Can you still deposit a physical cheque (foreign currency) in SA?

[potter123]

TLDR for reasons out of my control, I am set to receive a physical cheque from an overseas trust in USD. It's a fairly substantial sum of money for me and, unfortunately, they are not able (maybe allowed?) to use EFT/SWIFT etc. to transfer the money.

I currently bank with FNB and have a normal ZAR account and a global account with USD. My questions are whether it is possible to deposit a cheque in USD into either of these accounts? The amount is over $50k.

Secondly, if it is possible, what is the most affordable/economical way to do this.

Thank you in advance.

 

[MaisonP]

Yes you can. You will have to go into the bank, with Proof of residence, ID, etc etc etc.

The money will take about 6-8 weeks to clear if you are lucky and the bank will take a substantial amount.

I also used FNB the last time,.

 

[Pineapple Smurf]

Question is can you still get a physical cheque in 2021?
I thought those things disappeared 20 years ago

 

[MaisonP]

haha yes you can. I flew with Emirates the last time and took out travel insurance with an US company. Needless to say i had to put in a claim and they sent me a physical cheque which i then had to take to the bank to transfer to my account.

I guess using a cheque is still very relevant in US.

 

[Priapus]

Question is can you still get a physical cheque in 2021?
I thought those things disappeared 20 years ago

In the US they are still very common.