“U.S. citizens staying in Israel have discovered this week that they are no longer able to get Israeli shekels in exchange for their checks which are drawn to U.S. banks. Until this week, Israeli foreign exchange places would accept U.S. checks, at least from their regular customers, and would pay them out for a fee of 1 percent of their value. But this is no ,longer the case. ‘The problem is with the check clearance process,” a Jerusalem money changer told The Jewish Press. ‘No one outside the U.S. is able to do check clearance. It’s an international problem, it’s not a problem only in Israel.’ American banks are not processing for clearance any checks coming from outside the U.S.”
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