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Does anyone know anything about cashing a Costa Rican Bank check in the USA?. I want to send my grandchildren checks for there Birthday.

Missy

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I find it practical to send an Amazon.com gift certificate.

They can purchase anything they want...not just books.

I came up with a (I think) novel concept.

For b'days and Christmas I send a gift certificate towards their next trip to visit the Grandparents in CR.

Edited by Upper Canadian

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Missy,

 

Do you still have a bank account back home? If so the best suggestion I can offer is for you to contact your bank and ask to speak to the head teller and ask him/her your question.

 

You might need to provide that head teller with a bank routing number on one of the CR checks to help trace whether it could be cashed up there.

 

Just a suggestion...

 

Regards,

 

Paul M.

==

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Are these grandchildren minors who live at home with mommy and daddy or are they adults?

 

If they are not adults with bank accounts then I doubt that any bank would cash a foreign check for them. If mom & dad have a bank account then you might send the check to them to deposit (well ahead of time) at their bank.

 

Regardless, I doubt that any bank would "cash" a CR check. They would probably accept a check for deposit with a loooong delay before the check clears and the funds are available.

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Having worked in the U.S. banking industry most of my life, I can assure you that a depositor can submit a foreign check into what is know as the collection process. It can take anywhere from 5 to 20 days for the cleared funds to be credited to the depositor's account, depending on the country. In today's market, I'm pretty sure the depositor will incur a hefty service charge, almost as bad as a wire transfer. With that having been said, if you are sending a grandkid a $25 check, it may cost the parents $25 in service charges.

 

As stated earlier, the better option is an Amazon Gift certificate.

Edited by TxTita

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...In today's market, I'm pretty sure the depositor will incur a hefty service charge, almost as bad as a wire transfer. With that having been said, if you are sending a grandkid a $25 check, it may cost the parents $25 in service charges.

 

As stated earlier, the better option is an Amazon Gift certificate.

If a person has maintained any banking presence in the US they could set up a PayPal account and send money that way. Not sure of the fees but I think they are minimal if you only do transfers occasionally.

 

If the recipient/relative has a PayPal account, too, you can just send the money to them to their PayPal account, drawing it out of your own bank account in the US or from one's PayPal balance, should there be one. Then they can request that the money you sent to their payPal account be placed into their bank account. PayPal indicates that there may be up to a three-day wait for this to be done, but that's not bad, really. I have had someone send me money rom CR that way on several occasions but it has never actually taken tree days for the request that PayPal move the money into my bank account to be effected.

 

As far as I have heard PayPal inside Costa Rica is limited in various ways by the CR banking system. That's why a US (or other country's) bank is usually needed outside CR to use PayPal without a lot of restrictions. (I'm citing some private conversations I had with ARCR about the organization's experiences with PayPal)

 

So, I was just wondering whether PayPal might be another option for the OP.

 

Regards,

 

Paul M.

==

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If a person has maintained any banking presence in the US they could set up a PayPal account and send money that way. Not sure of the fees but I think they are minimal if you only do transfers occasionally.

 

PayPal is also a great option. You could set it up the PayPal account with just a credit or debit card, but you have to have a U.S. bank setup on PayPal if you want to payments/transfers debited to a bank account. Transfers to a person without a bank account restrict how the funds can be accessed, by limiting them to shop only where PayPal is accepted. Here is the info on PayPal fees, taken from their web page:

 

What fees apply?
To send someone money for 'Personal payments' (split an expense or repay a debt):
  • It's free to transfer money when you use the balance in your PayPal account.
    2
  • There are
    when you use your credit card. You'll be able to choose who pays the fee - either you or the recipient.

To send money to pay for 'Online purchases' (goods or services):
  • It's free to transfer money for the purchase of goods/service – regardless if your balance or credit card is used.
    2
  • Fees incurred for transferring the money will be charged to the recipient.

Edited by TxTita

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Having worked in the U.S. banking industry most of my life, I can assure you that a depositor can submit a foreign check into what is know as the collection process. It can take anywhere from 5 to 20 days for the cleared funds to be credited to the depositor's account, depending on the country. In today's market, I'm pretty sure the depositor will incur a hefty service charge, almost as bad as a wire transfer. With that having been said, if you are sending a grandkid a $25 check, it may cost the parents $25 in service charges.

 

As stated earlier, the better option is an Amazon Gift certificate.

 

Thanks to everyone that replyed. I think I will check out Amazon.com and Pay Pal. I have another question. I don't use credit cards. I have never order anything online. Is it safe to use a debit card? Thank you in advance.

Missy

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Thanks to everyone that replyed. I think I will check out Amazon.com and Pay Pal. I have another question. I don't use credit cards. I have never order anything online. Is it safe to use a debit card? Thank you in advance.

Missy

You need to check your banks policy as related to unauthorized debit card charges. My bank reimburses any unauthorized card transaction made at stores, ATMs, on the phone or online when reported promptly. The problem with a debit card is once a thief get a hold of your debit card number, they can very quickly wipe out your account balance before you get a chance to report the fraud to your bank.

 

Personally, I've had my debit card registered with both PayPal and Amazon.com for years, and I've never had a problem. They both have very solid reputations and do a good job of protecting their clients. I would never use a debit card online with an unknown merchant. I would also never let my credit or debit card out of my sight at a restaurant or merchant location. It's just too easy for a dishonest employee to copy down my card info.

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You need to check your banks policy as related to unauthorized debit card charges. My bank reimburses any unauthorized card transaction made at stores, ATMs, on the phone or online when reported promptly. The problem with a debit card is once a thief get a hold of your debit card number, they can very quickly wipe out your account balance before you get a chance to report the fraud to your bank.

 

Personally, I've had my debit card registered with both PayPal and Amazon.com for years, and I've never had a problem. They both have very solid reputations and do a good job of protecting their clients. I would never use a debit card online with an unknown merchant. I would also never let my credit or debit card out of my sight at a restaurant or merchant location. It's just too easy for a dishonest employee to copy down my card info.

 

Thank you Txtita, I have 2 debit cards and they are both From Costa Rican banks I will ask the banks. I just remembered that I have use one of my debit cards with Skype.

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The problem with a debit card is once a thief get a hold of your debit card number, they can very quickly wipe out your account balance before you get a chance to report the fraud to your bank.

 

---This is exactly why I always use my Bankofamerica Visa Credit Card from the USA and not my Banco de Costa Rica Debit card when I buy things via the Internet. If your debit card was compromized, how many of us EXPATs could give a detailed police report and acceptable explanation(IN SPANISH) to the Banco de Costa Rica or other Costa Rican Banks? Back in the year 1999 I had my BOA Visa Credit card compromized here in Costa Rica and had these debits eliminated from my account by the BOA people in less than 2 weeks. Try that in Costa Rica :unsure:

 

Rick

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If you have a U.S. bank account, which evidently you need for PayPal, why don't you just write a check on your U.S. bank account and mail it to your grandkids. That way they have a physical check in hand (what a treat!) and can take it to their parents bank to cash it, or to the bank on which it was drawn. Or deposit it for (likely) instant credit.

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If you have a U.S. bank account, which evidently you need for PayPal, why don't you just write a check on your U.S. bank account and mail it to your grandkids. That way they have a physical check in hand (what a treat!) and can take it to their parents bank to cash it, or to the bank on which it was drawn. Or deposit it for (likely) instant credit.

 

Thank You Shea, I will check into that I have a US account but it is not a checking account.

Missy

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If you have a U.S. bank account, which evidently you need for PayPal, why don't you just write a check on your U.S. bank account and mail it to your grandkids. That way they have a physical check in hand (what a treat!) and can take it to their parents bank to cash it, or to the bank on which it was drawn. Or deposit it for (likely) instant credit.

You do not have to have a U.S. bank account to open a PayPal account. I know, because I have 2 PayPal accounts, one uses my Banco Nacional Debit Card and the other uses my U.S. bank account. The difference between the two accounts is simple. I can transfer funds I receive into my checking account only if it is linked to U.S. account. I can't transfer funds sent to me into my Banco Nacional account. I can only use it to send money to others or make online payments.

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