cashing a cheque in thailand ?

[Joinaman]

Hi

hope this is in the right place

can anyone tell me about cashing a cheque in a Thai bank

can it be cleared immediately on presenting it to the bank, or do i have to wait for a few days to clear first ?

it will be a business cheque, from the motor insurance company to pay for my motorbike repair.

it seems the cheque is made out in my name, rather than the repair shop, so i'm expected to go with the insurance guy to my bank and present their cheque, but not sure if they then expect me to draw out the money in cash to pay the dealers

If immediate clearance, then no bother, with no risk to me, but i will not draw on a cheque if it needs time to clear first

Not sure at all why this is so, why they do not just pay direct to the repair shop, but going to ring them tomorrow but would like some advice first , if possible

Thanks

 

[Suradit69]

Cashing a check/Cheque, no or unlikely.

 

Depositing a check into your Thai bank account and waiting for it to clear, yes. Waiting time depends on your bank.

 

Even a local Thai baht cashier's check can take a couple of days to be available ... again depends on bank. Foreign checks will definitely take longer. Ask the bank before/when you make the deposit.

 

i deposited a Krung Thai Bank cashier's check into my Bangkok Bank account recently on a Friday. The money was available on the following Monday. Haven't deposited a foreign check in many years.

 

 

 

Edited February 1, 2019 by Suradit69

[crees]

I cash a US, Wells Fargo Bank check at Bangkok Bank on the first of every month. I have my money the first of the next month. It is a much cheaper option than paying ATM's and Wells Fargo fees for using a foreign bank

[LukKrueng]

1 hour ago, Suradit69 said:

Cashing a check/Cheque, no or unlikely.

 

Depositing a check into your Thai bank account and waiting for it to clear, yes. Waiting time depends on your bank.

 

Even a local Thai baht cashier's check can take a couple of days to be available ... again depends on bank. Foreign checks will definitely take longer. Ask the bank before/when you make the deposit.

 

i deposited a Krung Thai Bank cashier's check into my Bangkok Bank account recently on a Friday. The money was available on the following Monday. Haven't deposited a foreign check in many years.

 

 

 

op asked about a local cheque, no foreign cheque was mentioned...

don't know about other banks, but in Kbank if deposit the cheque in the morning, the cheque is cleared in the afternoon of the next working day. If deposited in the afternoon - takes 1 more day.

however, if I deposit the cheque in the branch issuing the cheque it gets cleared on the spot

[Suradit69]

32 minutes ago, LukKrueng said:

op asked about a local cheque, no foreign cheque was mentioned

And I explained about both, including my experience with a local Cheque. 

[Suradit69]

44 minutes ago, crees said:

I cash a US, Wells Fargo Bank check at Bangkok Bank on the first of every month. I

You're depositing the check in your account.

 

"Cashing" a check implies you're handing over a check and receiving cash in a single transaction.

[Joinaman]

Thanks guys

it seems they are asking me to go to town to meet insurance rep, go to my bank and pay in the insurance cheque, which is in my name ?, then if needs time to clear, will have to return to town, draw the cash out and then pay the bike repair shop, so they can release my bike. will mean 2 trips of nearly 100k each, plus the extra waiting time to collect the bike, which is ready today

Trying to ring the insurance to find out why this is , and why they cannot just make the cheque out to the shop  and pay it themselves on Monday so i can ride away the same day.

something seems to be a bit odd here

 

[khunPer]

2 hours ago, Suradit69 said:

Cashing a check/Cheque, no or unlikely.

 

Depositing a check into your Thai bank account and waiting for it to clear, yes. Waiting time depends on your bank.

 

Even a local Thai baht cashier's check can take a couple of days to be available ... again depends on bank. Foreign checks will definitely take longer. Ask the bank before/when you make the deposit.

 

i deposited a Krung Thai Bank cashier's check into my Bangkok Bank account recently on a Friday. The money was available on the following Monday. Haven't deposited a foreign check in many years.

Agree, I have cashed several cheques and it takes from a few days, down to one day, for local cheques, and up to a month for foreign cheques.

[henry15]

In Kasiskorn within 24 houres, Sometimes eve the same day

 

[quandow]

I tried depositing a check from a U.S. insurance company (about $50) at a "purple" bank branch in Chonburi. They told me I had to deposit it at the branch in Pattaya where I opened my account, they wouldn't accept it at that branch, and it would take about six weeks to clear. That was my first and last such experience - never gonna try that again. I just wrote it off as a learning experience.