Cheque from Panama

[chuckyD]

Hello OCT members. Can anyone help. I have a cheque issued to my company from by my bank in Panama. My other company accounts in U.K. will not accept the cheque so I am looking for a bank which can accept the said cheque. The Panamanian bank will not do a transfer so the balance can only be sent through the cheque.

 

[daniels27]

Will be difficult. Unless it is a lot of money, it must likely won't be worth the troubles. Some Latam banks can do it but as you don't already have an account there, I don't think it is worth checking.

 

[daniels27]

We recently had a discussion with a US check

R

Thread 'Cashing physical checks'

Feb 6, 2025

Hi friends of offshorecorptalk,

I'm writing to you today to ask for your help. I have an LLC (I'm a foreign owner) registered in New Mexico since 2022, processing payments with Stripe through my payment gateway without any issues.

When I started this business, I was able to open a Relay and Mercury account, but last year, my Mercury account was closed, and then my Relay account (on different dates).

Mercury proceeded to send me an ACH transfer of my remaining balance without problems, but Relay issued two checks to my registered address, which I was able to bring to my country. I've...

• ricky1
• Replies: 12
• Forum: Offshore Bank & EMI Accounts

• 

 

[chuckyD]

The cheque is for over 100k in the company's name. I am a British citizen. Thanks for the link to the thread.

 

[daniels27]

The cheque is for over 100k in the company's name. I am a British citizen. Thanks for the link to the thread.

Then, it is worth some troubles. Which bank are you using? I think HSBC is still able to do it for about £28
https://www.hsbc.co.uk/ways-to-bank/branch-banking/
While Barclays stopped doing it last year
https://www.barclays.co.uk/help/payments/cheques/pay-foreign/
NatWest and Lloyds may be able to help as well.

Is this a recurring business? If yes, you may want to open a local bank account in Panama as I would expect all banks in Europe to stop cheque processing in the long run, especially foreign ones.