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Old 21.05.2012, 15:35
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Deposit a check from the IRS -- here or there?

Hello, people. A question for those of you who come from the the U.S. of A. or have experience with its banking system.

Last summer I was in the U.S. for a paid internship. Back in CH, since I am not a U.S. citizen, this year I applied for tax refunds from the IRS. I had chosen to have a check mailed at home here in Zürich and I just got it in today's mail.

I am going to be back in the U.S. for a longer period in 2013 (will actually have to leave CH, but that's another story...) so I was wondering where is best for me to deposit the check -- here at my swiss bank (I hear from other threads that it's only 20-30 CHF for a personal check), or there at my (future) U.S. bank? My concern is that the check, even though has my name on it, carries my swiss address, and having already had experiences with U.S. banks, I guess they could make problems about it.

Any idea?

Cheers, Giovanni
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Old 21.05.2012, 15:43
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Re: Deposit a check from the IRS -- here or there?

I believe IRS checks have an expiration date. You probably want to check that when making your decision.
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Old 21.05.2012, 15:51
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Re: Deposit a check from the IRS -- here or there?

Hi Corbets,

thanks for pointing this out, I have just noticed the line “void after one year” on it...

It's the first time I get a check from them so it's not clear to me what is the expiration date, even though I see a "12/11" just above said line.

For example, does this one:

http://www.unlearning.org/images/irs2a.jpg

expire on 12/04 -- which I guess should stand for April 2012 ?

Cheers,
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Old 21.05.2012, 15:55
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Re: Deposit a check from the IRS -- here or there?

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For example, does this one:

http://www.unlearning.org/images/irs2a.jpg

expire on 12/04 -- which I guess should stand for April 2012 ?

Cheers,

No, it says that it expires after one year.

Tom
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Old 21.05.2012, 16:02
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Re: Deposit a check from the IRS -- here or there?

Also some Swiss banks don't like cheques more than one month old, as I found out to my cost a couple of months ago. Ended up having to send it back to the UK, to get deposited there.

Edit: It was Zuger Kantonal btw, and it was a cheque from the Inland Revenue (yes, hell had indeed frozen over at the time).
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Old 21.05.2012, 16:04
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Re: Deposit a check from the IRS -- here or there?

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Hi Corbets,

thanks for pointing this out, I have just noticed the line “void after one year” on it...

It's the first time I get a check from them so it's not clear to me what is the expiration date, even though I see a "12/11" just above said line.

For example, does this one:

http://www.unlearning.org/images/irs2a.jpg

expire on 12/04 -- which I guess should stand for April 2012 ?

Cheers,
In the US the month often comes first, so 12/04 would mean December 4th. But in that image, I think the date is up in the left hand corner,
02/25/05 or Feb. 25, 2005. So that check would be valid through Feb 24, 2006. I think

Also, our Raiffeisen bank said it could take up to 6 months(!) to get a check cleared here...

Last edited by drmom; 21.05.2012 at 17:13. Reason: fixed a typo
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Old 21.05.2012, 16:07
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Re: Deposit a check from the IRS -- here or there?

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No, it says that it expires after one year.

Tom
Hi Tom, thanks for your reply. So isn't that “12/04”, that you see just below the word “refund” on the image I linked, the expiration date of the check?

What date should I consider then? One year from now? I will be back in early 2013 so it should be OK I guess.

But any idea on whether I could get problems for the swiss address on it?
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Old 21.05.2012, 16:12
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Re: Deposit a check from the IRS -- here or there?

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In the US the month often comes first, so 12/04 would mean December 4th. But in that image, I think the date is up in the left hand corner,
02/25/05 or Feb. 25, 2005. So that check would be valid through Feb 242, 2006. I think

Also, our Raiffeisen bank said it could take up to 6 months(!) to get a check cleared here...
Hi DrMom, thanks for your reply! Then my check says 04/04/12 -- April 4th 2012. Thanks!

I guess I will ask at my bank (UBS) how long could it take then. I definitively prefer to spend some money for the commission and be gently ripped off with the FOREX here than having to fight with a bank teller there ...
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Old 21.05.2012, 16:14
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Re: Deposit a check from the IRS -- here or there?

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Hi DrMom, thanks for your reply! Then my check says 04/04/12 -- April 4th 2012. Thanks!

I guess I will ask at my bank (UBS) how long could it take then. I definitively prefer to spend some money for the commission and be gently ripped off with the FOREX here than having to fight with a bank teller there ...
Actually -- 04/27/12 which would be OK anyway!
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Old 21.05.2012, 18:46
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Re: Deposit a check from the IRS -- here or there?

3 years ago, I deposited a check in Credit Suisse from the US - it was either University of North Carolina or University of Michigan. Took 4 weeks to clear - had something to do with Deutsche bank, which is who CS goes through.

Last year, I deposited a check in the same account from Unv of Michigan - it was at least 3 months old (they sent the check to my husband's old work address). It cleared within a week.

No rhyme or reason. Ask at the bank though.

Am waiting for this year's checking adventure. I did learn that if you use Bank of America (I hate them, but I don't have another option at the mo), you can transfer money back to switzerland electronically if you can do it from a US IP address. Hello VPN.
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Old 21.05.2012, 18:58
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Re: Deposit a check from the IRS -- here or there?

Hi edot,

thanks for sharing your experience, I will definitively ask the folks at UBS.... hoping they don't freak out when they see the IRS logo ;-) They actually told me I can't keep my account with them, once I will move in the U.S. -- very disappointing.

Thanks everyone for the replies!

G
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