Cashier's cheques - convert to cash?

[GroveHillWanderer]

Can you take a cashier's cheque and convert it directly to cash in Thailand? I have always paid them into my account but was wondering if you can get them issued in such a way that the recipient can convert them directly into cash at the bank instead of depositing the funds? And if so, how long does it take to get the cash? Can it be done the same day?

 

 

[Pib]

Sure...you can cash Traveler Cheques for cash at Thai banks.  It costs Bt153 "per cheque" (so I hope you have large denomination cheques).  You get the bank's Cheque/Sight Bill Buying Exchange Rate.   Some branches will want to call some central number to confirm the cheques are valid/not reported stolen.  Plan on 15 to 30 minutes to get it done.

 

 

 

[GroveHillWanderer]

I'm talking about cashier's cheques, not travellers cheques. Different thing.

[sanmyintmaung]

Does your cashier's cheque has cross on it with "A/C payee only" written on it. A crossed cashier's cheque can only be paid into a bank account. An uncrossed cashier's cheque can be exchanged for cash at a bank branch.

[Pib]

8 hours ago, GroveHillWanderer said:

I'm talking about cashier's cheques, not travellers cheques. Different thing.

Whoops...sorry....I obviously had travellers cheques on the brain.  

[Thaidream]

I have  had some cashiers checks mailed to me from the US- A Thai bank regards these type of checks in the same manner as writing a personal check from your overseas account- even thought we know they are not the same- you have to deposit them- wait for them to actually clear- about 2 weeks- and then you can get access to the funds. However, if you can get a bank manager to OK the check- you could get it deposited and posted immediately.

[natway09]

Only if they are drawn on a Thai bank.

I do not think any cashiers cheque will be honoured for  cash anywhere in the world

except the bank who issued it.

 

[Pedrogaz]

18 hours ago, Pib said:

Sure...you can cash Traveler Cheques for cash at Thai banks.  It costs Bt153 "per cheque" (so I hope you have large denomination cheques).  You get the bank's Cheque/Sight Bill Buying Exchange Rate.   Some branches will want to call some central number to confirm the cheques are valid/not reported stolen.  Plan on 15 to 30 minutes to get it done.

 

 

 

What a racket.....153 baht a cheque? Don't you also pay 1% of the value when you buy them? I haven't used them in donkey's years....and found them extremely inconvenient when I did...I'm surprised they are still around. I use cash, credit and debit cards depending on the situation.

[Pib]

7 minutes ago, Pedrogaz said:

What a racket.....153 baht a cheque? Don't you also pay 1% of the value when you buy them? I haven't used them in donkey's years....and found them extremely inconvenient when I did...I'm surprised they are still around. I use cash, credit and debit cards depending on the situation.

Yea, their glory days are pretty gone by, but some people still use them when the feel uncomfortable in carrying a lot of cash and/or their debit/cards have a foreign transaction fee....or just afraid the cards will not work outside their home country.   Up until about a decade ago the wife and I would use them when visiting Thailand but then the cashing fee was only Bt33 per cheque compared to Bt153 now.  The "3" is govt tax/stamp....and the rest is the bank fee/pure profit for them.  Most banks/credit unions charge to issue traveler cheques but some don't like one US credit union I use to get my cheques at before traveling. 

[PerkinsCuthbert]

Yes, cashier's cheques drawn on a specific Thai bank are negotiable at any branch of that bank for cash. I'm not certain but there may be a small charge if the exchange is done between different provinces.

[TBKK]

Has anyone tried to withdraw a cashier's check from their bank in Thailand, travel to the U.S, and deposit the check in their U.S, account. 

Charles Schwab informed me that I could withdraw a Cashier's Check in Thai Baht from my Thai Bank, mail it to them and they would deposit it in my account at the exchange rate on the date it was received. The only charge would be the cost of the Cashier's Check from BKK Bank, Schwab would not charge me any type of conversion fee.