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I have a friend who has been in China for 4 years. He

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I have a friend...

I have a friend who has been in China for 4 years. He completed a 3 year construction job in 12/16 and was paid by a US company $2.4 Million dollars. Out of that check he had to pay his co-workers 240,000 dollars. However , he can't cash or deposit that check in China because of the amount. Therefore, he is still in China What can he do?

Submitted: 6 months ago.Category: Finance
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Answered in 1 hour by:
7/31/2017
Financial Professional: bkb1956, Finance Enthusiast replied 6 months ago
bkb1956
bkb1956, Finance Enthusiast
Category: Finance
Satisfied Customers: 4,833
Experience: IRS Enrolled Agent, 20+ years of experience in tax preparation with associated finance experience.
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Welcome to Just Answer. My name is ***** ***** I will be happy to assist you.

Does your friend have a bank account in the US?

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Customer reply replied 6 months ago
No
Financial Professional: bkb1956, Finance Enthusiast replied 6 months ago

Does he have an account with a bank in China that also has a branch in the U.S.?

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Customer reply replied 6 months ago
He has no bank account anywhere. They would not let him get an account or cash the checks because of the amount.
Financial Professional: bkb1956, Finance Enthusiast replied 6 months ago

Can he contact the US company and ask them to re-issue several checks in smaller amounts so that he can open and deposit the checks?

Can he open a bank account in China with a small amount and then ask the US company to wire the funds into the account?

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Customer reply replied 6 months ago
For the last 15 months that company is still making money off that check. It has never been cashed. I thought the same thing. Issue smaller checks. Aren't they obligated by law to pay him? He has been to his x employer because a have an office in China but are talking like they are not going to do any kind of replacement check.
Customer reply replied 6 months ago
His visa will be up very shortly and he has no money.
Financial Professional: bkb1956, Finance Enthusiast replied 6 months ago

They did pay him. It's not the company's fault that he cannot cash/deposit the check.

What about my second suggestion of opening a bank account in China with a small amount of money, and then ask the US company to wire the funds into that account?

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Customer reply replied 6 months ago
What will happen if his visa expires.
Customer reply replied 6 months ago
They know he can't cash that check and also know why. You are telling me that they are not obligated to do something?
What if they issued a check for a small amount of money so he could get home and another check for the balance.
Financial Professional: bkb1956, Finance Enthusiast replied 6 months ago

Of course, they can re-issue the check in smaller check amounts.

Can't he speak to someone in the US and tell them what's going on?

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bkb1956
bkb1956, Finance Enthusiast
Category: Finance
Satisfied Customers: 4,833
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Experience: IRS Enrolled Agent, 20+ years of experience in tax preparation with associated finance experience.

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