Us-Arg. Banking Question

[UBelgrano]

Apologies in advance as I guess this isn't really an "expat" question, but I wasn't sure where else to ask - it's not for me, but an Argentine friend.

A couple years ago, my friend was awarded a scholarship to teach English in the US for 1 year at the university I was then attending. She's now back in Argentina, and still hasn't cashed one of her checks, because it would have to be wired to her at the "official" rate. She's trying to find out if it would be possible for her to endorse the check to someone else, and have them return with the cash in USD.

Just to clarify a couple things: The amount would be significantly less than the $10k limit (or whatever it is) that would have to be reported. I'm also not the one she would be endorsing it to, she has an Argentine friend currently in the US who will be returning soon.

Any comments or advice about the best way to deal with this is appreciated.

 

[sgibson123]

Check in the us have an expiration date. Usually you have only max 6 months to cash it.

 

[UBelgrano]

True, but she would be able to get a new check from the school in that case anyway.

 

[sgibson123]

Then she can easily endorse it to someone with a U.S. acct who is willing to being the funds to her. You just write on the check 'pay to the order of ___'. She signs and then they sign and deposit it.

I would see if the school will still give her the funds thoigh. Many don't carry funds for a specific budget past a year. They need clean financial books.

 

[sgibson123]

I just saw the other friend is argentine. They can do it at a check cashing place the same way as a bank but will be charged a fee. Usually most are 2-6% of the check value.

 

[UBelgrano]

alright, thanks!

 

[RodalfoWalsh]

Check in the us have an expiration date. Usually you have only max 6 months to cash it.

Not the case in argentina.