Once the value of a foreign cheque has reached my account, can it still be dishonoured?
Foreign cheques processed ‘by negotiation’ can still be dishonoured even after they’re deposited to your account. Although the funds show in your account, you can’t withdraw them for a period of 21 days. This is to allow sufficient time for the issuing bank to let us know of any foreign cheques that are dishonoured. Even after the 21 day period has elapsed, foreign cheques can still be dishonoured (in which case you will need to return the funds to us).
In the event that a foreign cheque gets dishonoured, its value will be reconverted to the original foreign currency (using the ASB Sell rate at the time we process the dishonour) and that amount will be deducted from your account. Due to changes in exchange rates, the amount deducted from your account may be more-or-less than what was originally paid into your account.
Related Answers
-
We accept foreign cheques in a wide range of currencies. You can find details of the currencies we buy on ...
-
You can find out what your money is worth in a foreign currency by using our foreign exchange rate calculator.
-
Visit an ASB Branch and we can arrange a foreign currency cheque for you that same day in most currencies. ...
-
You can deposit a foreign cheque into your ASB account. It can be deposited to a New Zealand dollar account ...
-
Foreign cheques issued by ASB in a foreign currency must be deposited into an account that exactly matches the name ...
-
ASB uses two options to process foreign cheques; 1. By negotiation. This is where we immediately deposit the funds into ...
-
Your purchase will be converted at ASB's latest foreign currency rates.
-
Visit any ASB Branch and we’ll help you organise the currency you need. Most popular currencies will be available in ...
-
If you need to stop a foreign cheque purchased from ASB, you will need to either visit one of our ...
-
To make an International Money Transfer, log in to FastNet Classic internet banking and select Foreign Exchange. Select International Transfers. ...
