I got into a situation whereby i need to bank in a US cheque into a Singapore bank.
The first thing that puzzles me is that the check, unlike a USD cheque issued by singapore bank, odes not indicate that it is in USD. So that got me abit concern.
However, everything went smoothly.
The thing to note however, is the handling charges for banking in a US cheque issued by a non singapore bank. The bank that i use is DBS.
DBS charges a commission of SGD 10.00 for the transaction. Additionally, there is a SGD4.00 of Postage.
The US agent charges USD 5.00 for the transaction as well.
All in all, if you do not want transaction cost to reach 1% of your amount, your cheque must be valued at least SGD 2500.
The cheaper method is probably to wire money to a Singapore bank or Custom House. Actually, you calclulate the amount it took to clear my cheque, it might not be cheaper after all as Custom House charges around SGD 20 for wire services.