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Cashing Foreign Traveler's Checks

My friend was recently in South Korea and came back to Canada with $14,000 in a kind of Korean currency that resembles a traveler's check or bank draft. He found out that he might have to go back to Korea to cash it. Is there any alternative way for him to cash it in North America?


Your friend may or may not be able to use a U.S. bank to collect his funds. Ideally, he should contact a bank with a foreign exchange department and ask that bank to examine the currency to determine if the bank can help out. He should start with one of the large Canadian banks that has international banking expertise.

Published on BankingQuestions.com 6/23/08