Cashing Us Checks In Austria: Is It Possible?

If you have received a US check and are looking to cash it in Austria, there are a few options available to you. Firstly, you could inquire with banks in Austria, such as Bank Austria, about their policies regarding cashing US checks. Some banks may offer this service for a fee. Additionally, you could consider signing the check over to a friend or family member with a US bank account, who can then transfer the funds to you. Alternatively, you may be able to deposit the check into a US bank account, either by opening a new account or using an existing one. It is worth noting that some banks may require you to be present in person with a valid ID to deposit a foreign check. Finally, online platforms like PayPal may also provide a solution, although this may require setting up a US PayPal account. Each option has its own set of requirements and potential costs, so be sure to research and understand the process before making a decision.

Banks in Austria that accept US checks

It is unclear whether US checks can be cashed in Austria. However, there are several options for recipients of US checks who are based in Europe.

Inquire with Local Banks

Not all banks accept US checks, but at least a few in each country are likely to. They may or may not charge a fee, so it is best to inquire with banks in Austria directly.

Sign the Check Over to a Friend or Family Member

You can endorse a check and send it to a friend or family member who has a US bank account. They can then cash the check for you at their bank and wire the amount to your account.

Open a US Bank Account

There are a number of commercial banks that allow you to open a US bank account from a non-US address. They may charge a fee to open an account.

Contact the IRS

You can call the IRS, explain your situation, and ask if there are any other options available for you to get the money.

Online Money Transfer Services

Online money transfer services such as TransferWise can provide you with US bank details so you can receive transfers directly from the IRS into your account. You can then transfer the money to your local account.

PayPal

PayPal is now allowing you to deposit your stimulus check for free with a US PayPal account. This requires setting up a free PayPal account but you need to verify it with a US phone number.

Banks in Europe that Accept US Checks

The following banks accept US checks in Europe:

• Bank of Scotland (UK)
• HSBC (International)
• DKB (German online bank)
• Sparda Bank (Germany)
• Sparkassen (Germany)
• Credit Suisse (Switzerland)
• Crédit Agricole (France)

Endorsing a check to a friend

If you have a US check and are based in Austria, you may be able to cash it at your own local bank, although a processing fee will likely be charged. Alternatively, you can open an account at a bank that accepts US checks, such as HSBC or Credit Suisse.

If you are unable or unwilling to do either of these things, you can endorse the check to a trusted friend or family member with a US bank account. Endorsing a check is a simple process, but it should be done with care. Here is a step-by-step guide:

Step 1: Plan

Before endorsing the check, you need to choose who you want to sign it over to. This could be an individual, a group of people, or a company. It is important to carefully plan the transaction ahead of time, as cashing or depositing a third-party check can be tricky.

Step 2: Confirm the recipient

Make sure that your chosen recipient is willing to accept the check. It is very important that both parties agree to the process.

Step 3: Ensure the recipient's bank will accept the check

The recipient will need to check with their bank to ensure that they will accept the check. This should be done before the check is endorsed to avoid causing confusion with multiple signatures.

Step 4: Sign the check

Every check has an area on the back that reads "Endorse Check Here." Sign your name as it appears on the front of the check in this section. Then, write "Pay to the Order of" and the third party's name below your signature.

Step 5: Give the check to the recipient

The recipient can now deposit the check at their bank. It is a good idea for you to accompany them to provide proof of identification.

Step 6: Get the money

Once the check has been deposited, the recipient can transfer the money to your account.

Opening a US bank account

While it may be possible to cash a US check in Austria, it is unclear. However, if you are a non-citizen looking to open a US bank account, this is possible. Here is some information to help you get started.

Eligibility Requirements:

• You must have a physical US address.
• You must not be a US citizen.
• You must not be a permanent resident of the US.

Required Documents:

• Two forms of identification, including a primary and a secondary ID. A foreign passport with or without a passport visa and a foreign driver's license with a photo are both accepted as primary forms of ID by Bank of America.
• A tax identification number. Non-residents who don't have a Social Security Number (SSN) can apply for an Individual Taxpayer Identification Number (ITIN) instead.
• Proof of both a foreign and US address.

Additional Information:

• Some banks may require an opening deposit to activate your account.
• Bank of America offers language interpretation services in over 206 languages.

Benefits of Opening a US Bank Account:

• You can receive payments directly and take advantage of direct deposits.
• It is easier to pay bills as you can use your account to pay online or by check.
• You can access debit cards and ATMs, avoiding possible fees associated with transactions using a foreign bank account.
• Opening an account can help build your financial history, which may improve your chances of approval for financing from a US financial institution in the future.

Banks that Offer Accounts for Non-Citizens:

• Bank of America
• State Department Federal Credit Union (SDFCU)
• Chase
• PNC Bank

PayPal

To use the Cash a Check feature, you need to have a PayPal Balance account. You can cash the check in a few simple steps:

• Go to your PayPal balance and select Cash a Check.
• Take photos of both sides of your signed check and select Next.
• Choose when you want to receive your money. If you want it within 10 days, it's free of charge. If you want it expedited, the fee is 1% for payroll and government pre-printed signature checks with a minimum fee of $5, and 5% for all other accepted check types, including hand-signed payroll and government checks, with a minimum fee of $5.
• Confirm the transaction.

Online money transfer services

• Wise: Wise offers fast, reliable, and secure money transfers to over 80 countries, including the US. It provides mid-market exchange rates and low fees, often as low as 0.41%. Wise is also the top-rated online transfer service, with a Trustpilot rating of 4.3/5.
• XE: XE allows you to send money to over 60 countries and offers a trusted and safe way to transfer money overseas. While XE exchange rates include a small markup, they can still be more competitive than traditional banks.
• OFX: OFX is a currency specialist offering quick international transfers and currency risk management solutions. It provides access to a 24/7 phone service, a broad range of supported countries and currencies, and no transfer fees from Austria.
• CurrencyFair: CurrencyFair is a cheap and fast international money transfer service, offering flat transfer fees and competitive exchange rates. It supports transfers in 15 currencies and offers same-day or next-day delivery in many cases.
• Western Union: Western Union is a well-known and trusted money transfer service, offering transfers to over 200 countries and territories. It provides flexible payout options, including bank accounts, mobile wallets, and cash pickup at agent locations.
• Revolut: Revolut is another popular online money transfer service, known for its fast transfer speeds and competitive fees.
• Remitly: Remitly is often the cheapest option for cash pickup transfers in the US and offers convenient cash pickup services through local agent locations.

When choosing an online money transfer service, it's important to compare fees, exchange rates, transfer speeds, and user reviews to find the best option for your needs. Additionally, ensure that the service you choose is properly registered and regulated in both Austria and the US for added safety and security.

Frequently asked questions