How to Deposit Canadian Checks in U.S. Banks

If you sell goods or services over the Internet or have relatives and friends that live in Canada, you may run into a problem where you receive a foreign check. Although the money is in a different currency, these checks can be deposited into your American bank account. However, there may be an extended hold on the check to assure the funds clear.

Step 1

Fill out a deposit slip with the amount of money listed on the check.

Step 2

Endorse the back of the check as you would with an American check. Tell the bank teller it is a foreign check.

Step 3

Wait until the bank hold is removed to withdraw the funds. This may be as long as 14 business days depending on the amount of the check.

Tip

Most ATMS do not allow you to deposit foreign checks, you should always deposit these transactions to the bank.

Warning

Use caution when accepting foreign checks. There are scams where people pose as Canadian lottery officials and want you to deposit the check and then send them the money from your account until the check clears. Do not fall for such scams, a lottery official will never ask this of you via email or mail.

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