Cashing a US check in Thailand

[Nayet]

I just received a check from the US treasury. I have no plans on traveling to the States any time soon, so is there any way of getting it cashed in Thailand?

[ubonjoe]

If you have a bank account here you can deposit it your account and then after it clears the amount of the check will be credited to you account. 

[tonray]

You can cash at Thai bank...I don't know how long it will take but personal checks may take 4 or 5 weeks...perhaps a US Treasury check can be verified more quickly.

[Monomial]

As others have said, deposit it in your Thai bank account. It will take anywhere from about 30-60 days to clear, and cost anywhere between $20 - $50 US.  Depends on the specific policies of the bank. If you have accounts at more than 1 bank, as around to see who will give you the best deal. Last time I needed to do this, I found Siam City Bank had the most agreeable terms for US checks, but they have now been bought out by Thannachart so no idea if this is still true.

 

 

 

[Nayet]

Thanks, folks. 

[suzannegoh]

15 hours ago, Nayet said:

Thanks, folks. 

If you have a US bank or brokerage account you might be able to deposit the check over the Internet by scanning it.

[Juan B Tong]

I bring my pensions into Thailand by depositing checks I write on my US bank. Costs about 500 Bhat verses 3200 Bhat in ATM withdrawal charges in Thailand and flat fee and 1% from US bank charges.

 

It now takes 3 weeks to clear Rabobank (CA) and another 3 weeks to show in SCB.

I scan third party checks into my Rabobank account.

I currently get $4k a month and deposit when it accumulates to 9k.  I tried $20k once but it got caught up in US regulations of some type and was kicked back.  The US doesn't monitor anything under $10k.

Edited December 26, 2017 by Juan B Tong

[TallGuyJohninBKK]

Depositing a U.S. check into a Thai bank account typically is a long and expensive process... Not only does it typically take weeks for the funds to be made available here, but the Thai banks also charge a pretty hefty fee for the privilege of doing so. I believe, they're all pretty much the same in that regard.

 

These days, there are A LOT of U.S. banks that offer mobile check deposit, either via taking a photo of the check with their smartphone mobile app and/or scanning the check via a PC if you have access to a scanner. The mobile app approach probably is more common these days, with the dominance of smart phones. Takes a couple minutes and the funds are usually credited the same day.

 

The OP might want to check with whatever U.S. banks he has accounts with and see if that capability is offered thru any of their mobile apps or websites.

 

BTW, separately, it also appears it's possible to remotely deposit checks into one's PayPal account using the PayPal mobile app, and a service they call Ingo. It appears to have two speeds, one immediately with some hefty fees, and a second in 10 days that says no fees -- which might be a faster and cheaper option than going thru a Thai bank.

 

https://www.paypal.com/us/selfhelp/article/faq3735

 

https://www.paypal.com/us/selfhelp/article/what-is-the-ingo-money-cash-a-check-service-in-the-paypal-app-faq3725

 

I used to get small rebate checks and such sometimes from the U.S., and basically couldn't do anything with them here. Because the amount of the rebate would often be fully consumed by the Thai banks' foreign check cashing fees.

 

But with many U.S. banks' newer remote check depositing features and now the PayPal service that I'd never even heard of before -- but apparently has been around for many years -- that's no longer a problem.

 

Edited December 26, 2017 by TallGuyJohninBKK

[TallGuyJohninBKK]

In looking further, it appears that the PayPal service has a maximum check amount of $2500 per check.

 

Quote

What kinds of checks can I cash with the Ingo Money Cash a Check service in the PayPal app?

You can submit most check types for approval with Ingo Cash a Check, from $5, up to $2,500. This includes payroll and government checks with a pre-printed signature, business checks, two-party personal checks, handwritten payroll checks, insurance checks, attorney checks, cashier’s checks, money orders, rebate checks and refund anticipation checks. All checks must be made payable to you, endorsed by you, and drawn on a bank account in the United States or a U.S. territory.

Please note that we generally don’t accept conditional endorsement checks, counter checks, credit card checks, customer appreciation certificates, gift certificates, starter checks, traveler’s checks, warrants, or checks that aren’t made payable to you.

 

 

https://www.paypal.com/us/selfhelp/article/faq3728

[ToS2014]

Not sure of your banking status in the US; however, if given the chance and you may look into opening a USAA bank account.  They have a deposit at home option which is very simple and in your US account

[Doctorbu]

2 hours ago, suzannegoh said:

If you have a US bank or brokerage account you might be able to deposit the check over the Internet by scanning it.

Yes...I do this with an app on my phone. Then just transfer as needed. 

[Jaybott]

32 minutes ago, ToS2014 said:

Not sure of your banking status in the US; however, if given the chance and you may look into opening a USAA bank account.  They have a deposit at home option which is very simple and in your US account

Another benefit of having a USAA account is there is no foreign transaction fee for an ATM withdrawal and they will reimburse the ATM fee the Thai bank charges. It's a great bank.

[thaikahuna]

If you have a US bank and a smart phone, no problem. Most banks an credit unions have apps that will allow you to deposit checks with photos of the front and back. I do it all the time as I do not have need or desire to wait 45-60 days for the check to clear and lose a percentage to the Thai bank for the privilege.

[milwaukeeboy]

When you deposit the treasury check in your Thai Bank account, be sure to go to a bigger branch of the bank.  Some small branches don't have the experience and can't do it.

[Suradit69]

22 hours ago, tonray said:

You can cash at Thai bank...I don't know how long it will take but personal checks may take 4 or 5 weeks...perhaps a US Treasury check can be verified more quickly.

I always thought "cashing a check" meant handing over the check (and ID) and getting cash on the spot.

 

As has been said, you can deposit it in your Thai bank account and it will show up as a baht credit eventually. No cash until you are able to withdraw it from your account.

 

Alternatively, if you have a US bank account, send it to them  for deposit or use one of the online apps if you have that service available. I've done that a few times without a problem.

 

 

Edited December 26, 2017 by Suradit69

[TallGuyJohninBKK]

39 minutes ago, Jaybott said:

Another benefit of having a USAA account is there is no foreign transaction fee for an ATM withdrawal and they will reimburse the ATM fee the Thai bank charges. It's a great bank.

 

Last time I checked, USAA did in fact have a 1% foreign currency fee -- though off the top of my head, I'm not recalling whether that applied to ATM withdrawals, POS purchases or both.

 

[Nice Boyd]

4 hours ago, suzannegoh said:

If you have a US bank or brokerage account you might be able to deposit the check over the Internet by scanning it.

I can do with Charles Schwab, and my credit union

[Monomial]

4 hours ago, TallGuyJohninBKK said:

BTW, separately, it also appears it's possible to remotely deposit checks into one's PayPal account using the PayPal mobile app, and a service they call Ingo. It appears to have two speeds, one immediately with some hefty fees, and a second in 10 days that says no fees -- which might be a faster and cheaper option than going thru a Thai bank.

 

https://www.paypal.com/us/selfhelp/article/faq3735

 

https://www.paypal.com/us/selfhelp/article/what-is-the-ingo-money-cash-a-check-service-in-the-paypal-app-faq3725

 

 

Unfortunately you must be physically present in the USA in order to use this service. This is checked through your phone's GPS. You may be able to fake this with a VPN and GPS spoofing as long as you remove your SIM card first so that Google can't verify your location against the cell towers.

 

https://www.paypal.com/us/selfhelp/article/faq3731

[watcharacters]

4 hours ago, Juan B Tong said:

I bring my pensions into Thailand by depositing checks I write on my US bank. Costs about 500 Bhat verses 3200 Bhat in ATM withdrawal charges in Thailand and flat fee and 1% from US bank charges.

 

It now takes 3 weeks to clear Rabobank (CA) and another 3 weeks to show in SCB.

I scan third party checks into my Rabobank account.

I currently get $4k a month and deposit when it accumulates to 9k.  I tried $20k once but it got caught up in US regulations of some type and was kicked back.  The US doesn't monitor anything under $10k.

 

 

 

 

 

Congratulations, you have a pretty decent pension compared to most.    

 

I'm surprised to see your willingness to  spend 3200 Baht unnecessarily.

 

By depositing your check in a US bank your would avoid that cost.     It would only require googling to find out which bank will  issue you  a fee refunded debit card.   I think Capitol One was a bank that at least used to do that.

 

You're looking at saving  roughly  a third of a month's  pension check annually by doing this.

 

Good luck.

[TallGuyJohninBKK]

28 minutes ago, Monomial said:

 

Unfortunately you must be physically present in the USA in order to use this service. This is checked through your phone's GPS. You may be able to fake this with a VPN and GPS spoofing as long as you remove your SIM card first so that Google can't verify your location against the cell towers.

 

https://www.paypal.com/us/selfhelp/article/faq3731

 

Thanks for finding that additional detail. I've never personally used this PayPal service in or outside of the U.S.

 

But, I have many times successfully used services on my smartphone that required physical presence in the U.S. using the combined two methods you reference above. Never had any problems about that. But also, I keep a couple of active U.S. SIM cards (T-Mobile $3 a month and FreedomPop) for when I'm back in the U.S. and also to assist in these kinds of circumstances.

 

And the free Android app "Fake GPS" is a personal favorite that comes in handy in a variety of situations.

 

 

Edited December 26, 2017 by TallGuyJohninBKK

[CNXman2551]

I have my accounts at Bangkok Bank. On three occasions I received US Treasury checks that I took to my branch bank. In one instance they cashed the check immediately. The other two checks the bank manager deposited the checks close to closing time. The cash was in my account and available for withdrawal the next morning.  For any other check, U.S. insurance check, personal check, etc., it will take 30-60 days for it to clear. 

[Rhys]

Went through the bank... it took three weeks to clear from the main office in BKK.... Even if with a retirement requirement in their kitty.

[Pib]

8 hours ago, Jaybott said:

Another benefit of having a USAA account is there is no foreign transaction fee for an ATM withdrawal and they will reimburse the ATM fee the Thai bank charges. It's a great bank.

As a USAA customer also that's only true if using an ATM "in the US."    Using their debit card "outside the US" like in Thailand incurs a 1% foreign transaction fee and no ATM rebate...the ATM rebate only applies for US ATMs.  That's why their debit card lives in the darkness of my safe.  

 

From the USAA website

 

 

 

 

 

[Rhys]

16 minutes ago, Pib said:

As a USAA customer also that's only true if using an ATM "in the US."    Using their debit card "outside the US" like in Thailand incurs a 1% foreign transaction fee and no ATM rebate...the ATM rebate only applies for US ATMs.  That's why their debit card lives in the darkness of my safe.  

 

From the USAA website

 

 

 

 

 

Insightful thanks... any Banks you would suggest?

[Pib]

9 minutes ago, Rhys said:

Insightful thanks... any Banks you would suggest?

If you mean US banks/credit unions that do not charge a foreign transaction and reimburse ATMs fees, Schwab Bank, St Farm Bank, and Service Credit Union at three.  Well, SCU does charge a 1% foreign transaction fee, but reimburses that so when the monthly statement dust settles no fee for your foreign ATM withdrawal.  St Farm and SCU will only reimburse so much per month (but its more than enough for most folks) and Schwab Bank is unlimited.  But regardless of whether unlimited or limited to so much per month, don't abuse (over use for small withdrawals) the Golden ATM Reimbursement Fee Goose as the Goose may decide you are costing them too much money.

 

 

[Rhys]

1 minute ago, Pib said:

If you mean US banks/credit unions that do not charge a foreign transaction and reimburse ATMs fees, Schwab Bank, St Farm Bank, and Service Credit Union at three.  Well, SCU does charge a 1% foreign transaction fee, but reimburses that so when the monthly statement dust settles no fee for your foreign ATM withdrawal.  St Farm and SCU will only reimburse so much per month (but its more than enough for most folks) and Schwab Bank is unlimited.  But regardless of whether unlimited or limited to so much per month, don't abuse (over use for small withdrawals) the Golden ATM Reimbursement Fee Goose as the Goose may decide you are costing them too much money.

 

 

Sorry do you mean SCB?

[tf6122]

Insightful thanks... any Banks you would suggest?

Charles Schwab has worked great for me, easy to set up, no # of ATM withdrawals or $ limit on the amount of fees for reimbursement. No foreign transaction surcharge.

Sent from my [device_name] using http://Thailand Forum - Thaivisa mobile app

[Rhys]

2 hours ago, tf6122 said:

Charles Schwab has worked great for me, easy to set up, no # of ATM withdrawals or $ limit on the amount of fees for reimbursement. No foreign transaction surcharge.

Sent from my [device_name] using http://Thailand Forum - Thaivisa mobile app
 

 

 

Thanks, I thought Thai Banks... Cheers mate..

[MyFriend You]

15 hours ago, Juan B Tong said:

I bring my pensions into Thailand by depositing checks I write on my US bank. Costs about 500 Bhat verses 3200 Bhat in ATM withdrawal charges in Thailand and flat fee and 1% from US bank charges.

 

It now takes 3 weeks to clear Rabobank (CA) and another 3 weeks to show in SCB.

I scan third party checks into my Rabobank account.

I currently get $4k a month and deposit when it accumulates to 9k.  I tried $20k once but it got caught up in US regulations of some type and was kicked back.  The US doesn't monitor anything under $10k.

Finally an answer we have all been waiting to hear, but, I'd like clarification on one thing:  

Are these Personal Checks you are depositing, or Cashiers Checks??  I have an account with a bank my rental income goes into, they refuse to make International transfers unless they are done in Person, face to face and I only get back there about once a year.  I have a checkbook or that bank and would gladly write checks and deposit in my SCB account. 

[Rhys]

1 hour ago, TunnelRat69 said:

Finally an answer we have all been waiting to hear, but, I'd like clarification on one thing:  

Are these Personal Checks you are depositing, or Cashiers Checks??  I have an account with a bank my rental income goes into, they refuse to make International transfers unless they are done in Person, face to face and I only get back there about once a year.  I have a checkbook or that bank and would gladly write checks and deposit in my SCB account. 

 

Good information... First... it was a check from the State of CA... took it to a Thai bank.. and waited 3 weeks for it to clear....  I will look into the SCB when the time comes.