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- Checks in Chile
14/05/2017, updated 15/06/2023
Moving to Chile soon? Read this...
Since 2016, expat.cl has been maintaining this free online guide about Chile for foreigners, which takes a lot of time. Unfortunately, search engines now use this content to provide AI-generated answers. Therefore, our most up-to-date content is now only available in the Chile Handbook for Foreigners. Articles on this guide will still be updated, but less frequently.
DOWNLOAD TODAYEveryone knows how a check works, so I will not explain again.
However, there is a crucial point to know regarding checks in Chile (maybe it's the same in your country. As far as I'm concerned, it was different), which can cost you a lot of money.
How to lose money quickly with a check
In Chile, checks:
- can be exchanged for cash at any bank
- Have a mention on the right that says "al portador", meaning anyone who has the check can cash it.
Conclusion: if you write a check to someone, and it gets stolen, the thief can cash it, and you're screwed.
To avoid this, when you receive a new checkbook, we advise you to:
- Add two diagonal lines on each check: this prevents anyone from cashing it. All checks with diagonal lines will need to be deposited in an account
- Remove the two words "al portador": this prevents anyone but the designated beneficiary from using it.
Yes, this is a bit tedious to do… but it's best to be safe.
Here is a regular check (without the name/account number, of course) :
The safe version
Here is the modified and more safe version :
Ideally, this should be done on your entire checkbook as soon as you receive it. Otherwise, it is easy to forget, and when the check is issued, it is too late.
Do you want to go more in detail?
I wrote the Chile Handbook for Foreigners for anyone and everyone looking to move permanently and enjoy life in Chile. It's a 265-page book that goes over all aspects of relocating to Chile. Here is what you get:
✅ Practical tips based on 7-year relocation experience
✅ To-do lists to help you start
✅ Last updated in 2024