If one receives a check in foreign currency....?

Question

How and what is the process to turn it into us dollars?

Answer 1

It depends on a few different things.

Mostly on your bank and what their procedures are.  

Banks consider a few different factors:

1.What country it is (there are a few countries most banks wont do business with)

2.what your relationship with the bank is.  If you have an account that you have had for a long time, in good standing, you are more than likely to have access to the money alot quicker.

If you have a good relationship with your bank and it is a country that they will exchange currency for, you can have it in about 3 business days after you deposit it.

If it needs to be "cleared" before they will let you access it, then you might be looking at about 3-5 weeks.

I hope this helps a bit!  Let me know if you need more help. =o)

Answer 2

take to your bank