Check and bank fees

September 13th, 2006, 06:33 AM

A friend of mine who lives in Canada should receive a check from a canadian company and then he must give the amount to me. I'd like to know how much are the bank fees in average for a person who receives a check.
Thank you for your help.

September 13th, 2006, 07:08 AM

We have no idea what country you are in, so its impossible to say.

September 13th, 2006, 07:16 AM

It doesn't matter where I live, I want to know what kind of transaction fees my friend will have to pay in Canada.

Simpler:

My friend lives in Canada.
A company from Canada sends him a check of 300 CAD.

How much from this amount will pay my friend as a fee when he goes to the bank to take his check?

September 13th, 2006, 07:34 AM

Oh Then it shouldn't cost anything to cash the cheque at a Canadian bank in Canada.. He might have the wait a week for the cheque to clear and that's it. Zero cost.

September 13th, 2006, 07:52 AM

Thanks for your help but I'd like to hear a second opinion from a person who actually lives in Canada. For me it is really important to know how big the fee is (if any exists).

September 13th, 2006, 07:59 AM

I used to live in Canada Cayenne and still do daily banking in Canada with HSBC and TD Canada Trust. Neither bank charges anything to deposit cheques in US or Canadian dollars.

It's definately not like Germany where (IE.) Dresdner Bank charges me something like 5 different fees just to deposit a cheque. A friend of mine wanted to deposit a cheque here in Germany from the government for like 67$CAD and Citibank wanted to charge him like 45€ just to deposit it.

Believe me, Canadian banks do not generally charge anything to deposit a cheque except maximum 1,50$ (if it's a savings account) for using teller services.

September 13th, 2006, 08:37 AM

Ok, I'm happy to find out that the fees are non-existent or anyway very small compared with what I imagined. Thanks a lot.