Cheque Cashing


OKPAY accepts institutional and bank cheques in collaboration with our partner Mayzus FS Ltd. We are always happy to provide you with encashment services. We get your cheque, cash it in the bank, and make a transfer to your OKPAY account. Further operations are up to you: bank transfers, ATM withdrawals, online purchases, exchanges into other e-currencies, etc.

What is payment by cheque?

This kind of payment is widespread in the United States of America. You have done a good job for someone, delivered the goods purchased, and want to get paid for it. People in the US are used to drawing cheques. The cheque is drawn in your name and sent to you by post. It details your name and surname, the amount of money you’re to receive, and the payment purpose. The cheque has a deadline date for cashing after which it is treated as invalid.

Timing and Charges for Cheque Encashment

According to our rates, here are the charges for cheque encashment:

CAD Cheque 2,5% (min. 10.00, max. 400)
EUR Cheque 2,5% (min. 8.00, max. 300)
GBP Cheque 2,5% (min. 6.00, max. 250)

The cheque should be issued no earlier than six months before being presented for clearance. Additional commission will be charged for unidentified cheques deposited to Mayzus Financial Services accounts: CAD 5.00, EUR 4.00, and GBP 4.00.

After the cheque is received and cleared by the bank, funds are put on security hold for 30 days. Funds become available thereafter.


Cheque requirements

There are certain requirements depending on whom the cheque was issued to.

1. If the cheque is drawn in your name

The cheque may be drawn in the client's name:

E.g., John Smith

In this case, the following title John Smith pay to order Mayzus FS Ltd. #9311245 should be on the opposite side together with your signature.

2. The cheque is drawn for Mayzus FS Ltd

If the cheque is drawn in the company's name & client's name:

E.g., Mayzus FS Ltd. #9311245, John Smith

In this case the opposite side remains blank.

Where do I send the cheque?

Mail the cheque to this address:

Mayzus Financial Services
PO box c.5 Archeologicka 2256/1
155 00 Prague 5
Czech Republic

For registered letters (including express courier delivery), please use this address:

Mayzus Financial Services
Archeologicka 2256/1
155 00 Prague 5
Czech Republic

Cheque encashment takes seven business days from the day of receipt.


Terms and conditions of cheque encashment with OKPAY

Cheque encashment is available only for verified users registered with OKPAY. Click here to register.

Your OKPAY account balance should have €100 EUR for the cheque processing. If the bank detects forged or fake cheques, a penalty of €100 EUR is deducted from the account balance. We may also ask you to sign an indemnity form, including a power of attorney to confirm that you are fully entitled to the value of the cheque and that there is no attempt to obtain money by deception. This is a standard procedure for your protection in order to avoid fraud and meet the requirements of money laundering regulations.

Once the cheque is received, we will verify it in the bank. If everything is OK, funds will be credited to your e-wallet minus the processing charges.