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Pengyou

Using a Chinese check 汇票 - huìpiào to send money home

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Pengyou

I have been doing some research on how to get $$ back to the U.S. so that I can continue my existence there.  I just found out about this method.  Go to a Chinese bank, have them convert rmb to $$, the bank writes a "check" (it really seems more like a money order, but that is a minor point) and then mail the check back home.  Has anyone used this method?  I have read two conflicting points...one source said that this check had to be physically sent to a bank to be cashed and could not be deposited electronically.  The other source said that the check could be deposited electronically.  Which one is correct? 

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If the check is drawn in US dollars on a US bank, has all the printed codes normally found on US checks, is made payable to your order, and has been properly endorsed by you, then you should be able to deposit it electronically.

 

Note though that most banks limit the dollar amount of checks for electronic deposit. As well, it's possible your bank might block phone deposits when you're outside the US.

 

EDIT: Let me step back from that advice. I just came across a bank that clearly states that checks issued by a foreign financial institution cannot be deposited by phone banking; they have to be mailed in.

 

Considering the paranoia over international money laundering, I suppose this isn't surprising. You'll just have to ask your bank.

 

https://www.psecu.com/help/770/what-cannot-be-deposited-with-mobile-deposit

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6 hours ago, Pengyou said:

Has anyone used this method?  I have read two conflicting points...one source said that this check had to be physically sent to a bank to be cashed and could not be deposited electronically.  The other source said that the check could be deposited electronically.  Which one is correct? 

 

I've done it. My friend in the US endorsed and physically deposited the check. 2017. Worked just fine. 中国银行

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