Anyone cashed a US check at Kasikorn?

[Poppadom]

Hi all - My ex company still owes me some USD 3k and they want to mail a check to me.

Has anyone cashed a US check at Kasikorn Bank? I am in Phuket. Two questions:

1.) Is it possible?

2.) Do I have to go to one of their main branches to do it?

 

Thanks.

[Pib]

 

Fee-wise I think you will find a $15 fee "plus" the fee charged by the U.S. bank K-bank uses (don't know who) charges to clear the check.    And that clearing bank fee may not be cheap...a lot more than $15 fee K-bank charged up front.  Clearing time will probably be 2 to 4 weeks.  And the exchange rate use will probably be the Cheque/Sight bill Buying Rate that is a little lower than the TT Buying Rate used for incoming international transfers.

 

https://www.kasikornbank.com/en/rate/fee/ChargesDoc/FeeService_en_30032018.pdf

Edited July 26, 2018 by Pib

[scorecard]

Some years back I had a cheque from a  US bank.

 

Both of the main Thai banks indicated that step 1 was to do a check if their responding bank in US had a link to the US bank on which the cheque had been drawn.

 

Luckily they was a connection, the Thai bank then accepted the cheque, I received the funds minus 2 bank charges and minus a commission 5 weeks later.  

 

[rocketman777]

You will not be able to "cash" it , to the best of my knowledge, but you can deposit it into your K-bank account.

I used to transfer money this way by writing a personal check on my US Account and depositing this into my K-Bank account.  Cannot remember the total cost but it was not unreasonable.

[Jonmarleesco]

As with a British one, they'll no doubt accept it, but it won't be worth anything for a few weeks. 

[fxe1200]

Tell them to use transferwise as everybody else does, who can think further than from 12 to noon.

[Poppadom]

1 hour ago, fxe1200 said:

Tell them to use transferwise as everybody else does, who can think further than from 12 to noon.

This is a sh1tty too big to fail bank with loads of incompetent idiots. I told them step by step how to wire THB instead (all the internal bookings, etc. but they are still in the dark) Looking into other alternatives, too. Ie. cut check to US employee friend who would then transferwire to me, etc.

[Suradit69]

10 hours ago, Poppadom said:

Hi all - My ex company still owes me some USD 3k and they want to mail a check to me.

Can't you ask them to do an electronic transfer to your US bank or broker? 

 

Been awhile since I got a US$ check, but when I did I just mailed it back to my US bank. A couple of month's ago someone wanted to send me a check and I just asked them to transfer the amount to my Bank America account in Chicago. They had no problem doing it.

[Rhys]

...what is the exchange rate....for this type of service with the bank?

[Tracyb]

Seems like your ex employer should either perform a domestic wire transfer or....an ACH transaction.  They’ll need your banks routing number and your account number....all of which are printed on the bottom of any checks you might have ( if it’s a checking account you want it deposited to).  Or just contact your bank and get the necessary info.  Good luck!

 

[elgenon]

Apparently if the check is made out to the bank the funds will be immediately available. Check to make sure I am right but I was told this by BB.

[Poppadom]

On 7/27/2018 at 8:19 AM, Tracyb said:

Seems like your ex employer should either perform a domestic wire transfer or....an ACH transaction.  They’ll need your banks routing number and your account number....all of which are printed on the bottom of any checks you might have ( if it’s a checking account you want it deposited to).  Or just contact your bank and get the necessary info.  Good luck!

 

Haha, no... First they would have to post manual journals against their error account (if any) and move USD internally over to FX, who would then execute a spot FX transactions and finally they'd have to set up a manual payment to my THB account. This seems to be too much for them.

[Tracyb]

Well, maybe they could mail your check to a friend or relative living in the US, and assuming you have a bank account over there... your friend or relative could deposit the check into your account for you and you could initiate your own TransferWise transaction.

 

[Poppadom]

So the way it worked out was they wired USD to my brokerage in Singapore. I got that FX-ed into SGD by the broker and they deposited a check into my SG bank account, from where I wired some of the money to my Thai account. ?