Depositing US Covid Check

[OliverKlozerof]

I just got the latest US COVID check ($600) in the mail here. It has my Thai address on it. I'm wondering how to deposit it.

 

1) The only acct I have in the US is with Charles Schwab. They have a check deposit feature in their mobile app I've used before which is very convenient. (Just sign check and photograph both sides.) I've heard that some US financial institutions have been stricter about not allowing people who aren't living in the US to continue to use their services. Schwab has not been so strict with this. Regardless, I'd rather they didn't know that the US gov't corresponds with me in Thailand. Or, is there anyone reading this who deposited their Thai-addressed COVID check using the Schwab app with no problems?

 

2) I have two bank accts in Thailand: Bangkok Bank and SCB. Just looked in both their mobile apps and don't see a way to deposit a check (not surprising, as I think checks are not used much here). I searched online, and may have found old info, but it sounded like depositing a check is not so easy, can takes weeks to clear, and can include substantial fees. Anyone have recent experience depositing a check like this to either bank? Is it now easy? (I don't really care how long it takes, as long as it's not more than a couple weeks. But I'd rather not have to pay a big fee.)

 

Thx

[lopburi3]

AFAIK it is 4 week or more and a good fee - if they still even accept checks - and not sure they will even accept US government checks (at times in years past Bangkok Bank would not).

[foreverlomsak]

Take it Bangkok Bank, they used to accept personal checks from me, for deposit into my account, which were drawn on my UK bank.

It cost $10 US, and took about 3 weeks to get.

Good Luck.

[Dagfinnur Traustason]

No problem. All big Banks like: Bangkok Bank, Kasikorn, Krung Thai Bank, Siam Commercial Bank and Bank of Ayudhya will accept a check from US government. They will charge a small fee of all from 10 to 60 dollar. The biggest problem is the time is takes very a lot.

[OneZero]

With those costs & timelines it seems just as easy & timely to mail it back to a US bank.

[Pilotman]

I thought 'checks' went out with  flared trousers, big collars and string ties.  Who uses them nowadays? 

[Sheryl]

2 hours ago, Dagfinnur Traustason said:

No problem. All big Banks like: Bangkok Bank, Kasikorn, Krung Thai Bank, Siam Commercial Bank and Bank of Ayudhya will accept a check from US government. They will charge a small fee of all from 10 to 60 dollar. The biggest problem is the time is takes very a lot.

Actually several people have reported banks refusing and mine (Kasikorn) just did today.

 

I have to pay taxes this year so rather than go to a lot of trouble to deposit it in the US am wondering if I could just tear it up and claim the tax credit. Anyone know any reason why not to do that?

[Dagfinnur Traustason]

4 minutes ago, Sheryl said:

Actually several people have reported banks refusing and mine (Kasikorn) just did today.

 

I have to pay taxes this year so rather than go to a lot of trouble to deposit it in the US am wondering if I could just tear it up and claim the tax credit. Anyone know any reason why not to do that?

Then I suggest you talk to the head office, so they call out to their branch to give them the national banking standard rules. Same as I do when a bank branch refuse to open an account, after they always sound much nicer.

Why you shouldn´t tear it appart and claim tax reduction, is simply because it is different branches in your home country and you are creating extra work they might not want to deal with.

[Sheryl]

7 minutes ago, Dagfinnur Traustason said:

Why you shouldn´t tear it appart and claim tax reduction, is simply because it is different branches in your home country and you are creating extra work they might not want to deal with.

I don't think that is the case.

 

Tax returns are all automated and claiming the deduction doesn't create work for anyone that I can see.

 

I would be cashing a check from the Treasury only to turn around and have to send them that much more.

 

[OliverKlozerof]

2 hours ago, Dagfinnur Traustason said:

No problem. All big Banks like: Bangkok Bank, Kasikorn, Krung Thai Bank, Siam Commercial Bank and Bank of Ayudhya will accept a check from US government. They will charge a small fee of all from 10 to 60 dollar. The biggest problem is the time is takes very a lot.

 

Sixty bucks to cash a check? Geezus

[Pib]

1 hour ago, Pilotman said:

I thought 'checks' went out with  flared trousers, big collars and string ties.  Who uses them nowadays? 

Used for folks who haven't provided the govt a bank acct number to make the stimulus payment to.  No bank acct number then you get a check or preloaded debit card.

[Etaoin Shrdlu]

Bangkok Bank's head office will send US Government checks out for collection and will credit the proceeds to your Bangkok Bank account at any branch. You would need to go in person to the foreign transactions department on the second floor of BBL's HQ on Silom Road. I haven't used this service for a couple of years, but I seem to recall it costs about thb1,200 or so per check. I don't think it ever took more than two weeks for the funds to clear. My guess is that BBL sends the checks to their branch in New York for domestic clearing and then then credits the funds internally.

 

I realize this may not be much help if you don't have an account with BBL or don't live in Bangkok.  Best of luck.

[Dagfinnur Traustason]

1 hour ago, OliverKlozerof said:

 

Sixty bucks to cash a check? Geezus

Yes! ???? It´s horrible, but it´s that big difference. Sometimes, just getting them to accept the check takes some crazy talking.

[OliverKlozerof]

3 hours ago, Etaoin Shrdlu said:

You would need to go in person to the foreign transactions department on the second floor of BBL's HQ on Silom Road. I haven't used this service for a couple of years, but I seem to recall it costs about thb1,200 or so per check.

As I wrote in my opening post, I have a Bangkok Bank account. You think I have to go all the way to Silom to do this? There's a large branch in Nana, with desks upstairs where they've helped me with special needs before. I'll go to Silom if I must, but I'd like to know for sure that it can't be handled in Nana. (Or the Emporium branch in Phrom Phong, which is where I opened the account.)
(BTW, what's the L for? Limited?)

[DrDave]

Why not just continue to use your Schwab app to post the check to your account?  I highly doubt that any human will even see the check image (and thus your address). I also doubt that the automated check image processing would pick up your mailing address from the face of the check and somehow raise a red flag. Finally, if you're worried that Schwab might not allow the deposit because your IP address indicates you're in Thailand, use a VPN so that it appears you're in the US when using the app.

[Etaoin Shrdlu]

6 hours ago, OliverKlozerof said:

As I wrote in my opening post, I have a Bangkok Bank account. You think I have to go all the way to Silom to do this? There's a large branch in Nana, with desks upstairs where they've helped me with special needs before. I'll go to Silom if I must, but I'd like to know for sure that it can't be handled in Nana. (Or the Emporium branch in Phrom Phong, which is where I opened the account.)
(BTW, what's the L for? Limited?)

When I attempted to negotiate a US Government check at the Bangkok Bank branch where I have my account, I was advised that the only place that could help me was the head office on Silom. This may or may not be correct, so perhaps you could give it a try at your branch. Yes, I believe the L is for Limited. BBL is the ticker symbol used by the Stock Exchange of Thailand.

[mtls2005]

16 hours ago, OliverKlozerof said:

I'm wondering how to deposit it.

 

Have you installed the Schwab Mobile App? Have you used it? Personally I would use the Mobile App Deposit feature. 

 

Or print a Schwab deposit slip, endorse the check for deposit only with you acct no. Then mail it to Schwab. 

 

If Schwab asks just say you got stuck in Thailand because of COVID.

 

12 hours ago, Sheryl said:

I have to pay taxes this year so rather than go to a lot of trouble to deposit it in the US am wondering if I could just tear it up and claim the tax credit. Anyone know any reason why not to do that?

 

Fraud? Yes, you can claim a missing/unreceived stimulus check on your 1040, line 30, Recovery Rebate Credit, and then take that as part of a refund, which might get direct deposited. I am not a lawyer. I'd do a tiny bit of research, see if you are comfortable with this approach. If you "lost" the check, maybe convey this with a cover letter (you can attach a PDF to an eFile) attached to your 2020 1040?

 

Is this your first or second stimulus check? 

 

Simple enough to mail the check back to the U.S. for deposit.

Edited February 19, 2021 by mtls2005

[Sheryl]

5 hours ago, mtls2005 said:

Fraud? Yes, you can claim a missing/unreceived stimulus check on your 1040, line 30, Recovery Rebate Credit, and then take that as part of a refund, which might get direct deposited. I am not a lawyer. I'd do a tiny bit of research, see if you are comfortable with this approach. If you "lost" the check, maybe convey this with a cover letter (you can attach a PDF to an eFile) attached to your 2020 1040?

 

Is this your first or second stimulus check? 

 

Simple enough to mail the check back to the U.S. for deposit.

 

There would be  no refund, I owe taxes. It would just reduce the amount I'd have to pay. In effect it is a way to apply the stimulus check towards my tax payment.

 

How is it fraud? I don't get the money more than once. I simply elect not to cash the check and rather to apply the amount towards my tax payment.

[mtls2005]

15 minutes ago, Sheryl said:

How is it fraud?

 

I don't know. I merely mentioned it as a potential concern. I am not a lawyer. It's on you to determine what you think is right, proper, moral, legal, etc. I'm off duty.

 

Destroying a federal check, then claiming you didn't receive it is at least "grey-ish", and seemed worthy of the mention. Chill.

 

 

17 minutes ago, Sheryl said:

There would be  no refund, I owe taxes. It would just reduce the amount I'd have to pay. In effect it is a way to apply the stimulus check towards my tax payment.

 

Yes, of course, if your tax is greater than your stimulus, well, that's pretty much basic math, you still owe some money, just less after you apply Line 30.

 

[Sheryl]

1 hour ago, mtls2005 said:

 

I don't know. I merely mentioned it as a potential concern. I am not a lawyer. It's on you to determine what you think is right, proper, moral, legal, etc. I'm off duty.

 

Destroying a federal check, then claiming you didn't receive it is at least "grey-ish", and seemed worthy of the mention. Chill.

 

 

 

Yes, of course, if your tax is greater than your stimulus, well, that's pretty much basic math, you still owe some money, just less after you apply Line 30.

 

I don;t intend to claim anything. Just not cash the check, and take the deduction.

[OliverKlozerof]

Logged into my BKK Bank account online and asked about this through their secure messaging there. Here's their boilerplate reply. It's (unsurprisingly) poorly written. The gist is, I guess: Yes, I can deposit the US check. (I've had an acct there many years.) It costs around 400 THB (or 15 USD), and can take anywhere up to 3 months. There's no mention I must do it at Silom branch. (Actually, I think I'll reply to double check that.) This is all fine by me.

--

"Reference to your enquiry of depositing a foreign personal cheque with Bangkok Bank, kindly be noted that the bank can consider the foreign cheque only the bank's customer who maintains the account with Bangkok Bank at least 6 months.

 

The processing time is depending on the terms and conditions applicable to the correspondent bank which processes the cheque clearing and the 'drawee' bank in the country where the cheque was issued, foreign bank cheque can take more than a month to clear.

 

The fees when buying the foreign cheque and draft from customer below:

Bangkok Bank advances the payment prior to collection from the foreign bank, 400 Baht plus 3 Baht stamp duty per draft.

 

Foreign bank returns the draft as it cannot be collected, 200 Baht per draft plus any additional fee imposed by the foreign bank. Bangkok Bank will also charge interest for advance payments to customers. The default payment loan interest rate is calculated from the date that the customer makes a repayment.

 

Bangkok Bank collects from the foreign bank before paying to the customer, USD 15 plus 3 Baht stamp duty per draft and any additional fees collected by the foreign bank.

 

The approximate times of US cheque clearing is 2-3 months."

[natway09]

Just about all businesses with TFN's use cheques as a way of doing business in Thailand.

Just for interest it is a criminal offence to write a cheque that can't be honoured on the cheque date in Thailand.

Don't know about the US but Australian cheques at BKB clear in about 14 working days.

You will need to at least go to the branch of your account 

My last charge 600 Bht

 

[Etaoin Shrdlu]

1 hour ago, OliverKlozerof said:

Logged into my BKK Bank account online and asked about this through their secure messaging there. Here's their boilerplate reply. It's (unsurprisingly) poorly written. The gist is, I guess: Yes, I can deposit the US check. (I've had an acct there many years.) It costs around 400 THB (or 15 USD), and can take anywhere up to 3 months. There's no mention I must do it at Silom branch. (Actually, I think I'll reply to double check that.) This is all fine by me.

--

"Reference to your enquiry of depositing a foreign personal cheque with Bangkok Bank, kindly be noted that the bank can consider the foreign cheque only the bank's customer who maintains the account with Bangkok Bank at least 6 months.

 

The processing time is depending on the terms and conditions applicable to the correspondent bank which processes the cheque clearing and the 'drawee' bank in the country where the cheque was issued, foreign bank cheque can take more than a month to clear.

 

The approximate times of US cheque clearing is 2-3 months."

It looks like BBL's information above pertains to personal checks, not government checks. Now that I reflect further, I recall paying thb1,200 baht and change, but I think I was sending three checks out for collection at once, not one. 400 baht sounds about right now. But all of the government checks I sent via BBL cleared within about two weeks. You might also want to clarify that you're seeking to clear a US Government check when you clarify the possible need for a trip to Silom.

[DogNo1]

Just telephone Schwab and ask whether you can use their mobile app to deposit.  I used the USAA mobile app to deposit mine.  Done in ten minutes, funds available immediately.  Regarding destroying the government chack: of course I did.  Deducting it from payable taxes should be fine.    I don't know of any law against not cashing US Government checks.  How could they prove that you received it?   I live here and have both Schwab and Fidelity accounts.  No problems so far.  

[mwbrown]

I got my $600 check two days ago and used my US credit union's app-photo-deposit feature.  I got notification about an hour later that it was approved.

 

I understand your concern with Schwab thinking you're overseas.  I have the same issue with my investment company, they can't work human-to-human with me while I'm overseas but I do things like buy and sell stock and arrange for SWIFT transfers on their web site and they know I've relocated here.

 

Given the nightmare of processing the paper check here, I would go with the app deposit.

[DFPhuket]

I used my Ally bank app to deposit my $600 check. I use my US address for the bank and the check had my Thai address. There were no issues and it cleared in one day. I doubt a human reviewed it. 
 

interestingly, I first tried with my Capital One app but it recognized I was outside the US and wouldn’t allow a deposit. I imagine I could have gotten around that with a VPN. 

[OliverKlozerof]

1 hour ago, Etaoin Shrdlu said:

It looks like BBL's information above pertains to personal checks, not government checks. Now that I reflect further, I recall paying thb1,200 baht and change, but I think I was sending three checks out for collection at once, not one. 400 baht sounds about right now. But all of the government checks I sent via BBL cleared within about two weeks. You might also want to clarify that you're seeking to clear a US Government check when you clarify the possible need for a trip to Silom.

 

My question to them was: "I have a check from the US government. How can I deposit it in my account?" To which I received the above (boilerplate), answer. Being Thailand, whether or not this will apply in person is not guaranteed.

I did log back in and ask if I'd be able to do this at the Nana or Phrom Phong Emporium branch. (There was no way to Reply to their Reply, so I made a new message, referencing the previous exchange. TIT) Business hours are now over and I've received no reply. Will log in tomorrow to check status.

Again, being Thailand, who knows if I'll receive confirmation one way or the other on this. If I in fact receive no answer, then I may make a little game of it: First go to Nana branch (not my branch), and see if I can deposit there. If not, I'll see what they say, which I'm guessing would be, I either need to go to the branch where I opened the acct (Emporium), or the Silom HQ. I can think of other ways to entertain myself, but being retired with time on my hands....

[OliverKlozerof]

1 hour ago, DogNo1 said:

Just telephone Schwab and ask whether you can use their mobile app to deposit.  I used the USAA mobile app to deposit mine.  Done in ten minutes, funds available immediately.  Regarding destroying the government chack: of course I did.  Deducting it from payable taxes should be fine.    I don't know of any law against not cashing US Government checks.  How could they prove that you received it?   I live here and have both Schwab and Fidelity accounts.  No problems so far.  

I thought I'd heard Fidelity was getting strict about customers living outside the US. Or do you use a US address with them?

[new2here]

On 2/18/2021 at 6:24 PM, Pilotman said:

I thought 'checks' went out with  flared trousers, big collars and string ties.  Who uses them nowadays? 

For personal use, yes, checks are very very much a rarity... but for businesses - especially lower to mid-sized established businesses, checks are still a rather common sight..

 

When i first transitioned to BBLs elite banking unit, they offered me a personal checking, but commented that it’s so rare for an individual to have/use one and that many payees an individual might be sending a check to either don’t/won’t accept them, the process is much harder, that there simply isn’t all that much use for them at a individual consumer level.

[wwest5829]

On 2/18/2021 at 3:42 PM, OliverKlozerof said:

I just got the latest US COVID check ($600) in the mail here. It has my Thai address on it. I'm wondering how to deposit it.

 

1) The only acct I have in the US is with Charles Schwab. They have a check deposit feature in their mobile app I've used before which is very convenient. (Just sign check and photograph both sides.) I've heard that some US financial institutions have been stricter about not allowing people who aren't living in the US to continue to use their services. Schwab has not been so strict with this. Regardless, I'd rather they didn't know that the US gov't corresponds with me in Thailand. Or, is there anyone reading this who deposited their Thai-addressed COVID check using the Schwab app with no problems?

 

2) I have two bank accts in Thailand: Bangkok Bank and SCB. Just looked in both their mobile apps and don't see a way to deposit a check (not surprising, as I think checks are not used much here). I searched online, and may have found old info, but it sounded like depositing a check is not so easy, can takes weeks to clear, and can include substantial fees. Anyone have recent experience depositing a check like this to either bank? Is it now easy? (I don't really care how long it takes, as long as it's not more than a couple weeks. But I'd rather not have to pay a big fee.)

 

Thx

First $1200 check = Bangkok Bank said they would charge 400 baht to process. I used my Fideity App and deposited immediately without issue.