Reciving A Cheque

[N47HAN]

Am due to cash out some money from a company and have the option of taking the amount in pounds or dollars. The company concerned will use reutures exchange rate at time of request if i ask for sterling from dollars .

My questions are ...

1) dollars or sterling?

2)can i deposit either cheque into my thai scb account?

3)charge approx?

4)time to actually being able to withdraw the funds?

Thanks

[chinthee]

Am due to cash out some money from a company and have the option of taking the amount in pounds or dollars. The company concerned will use reutures exchange rate at time of request if i ask for sterling from dollars .

My questions are ...

1) dollars or sterling?

2)can i deposit either cheque into my thai scb account?

3)charge approx?

4)time to actually being able to withdraw the funds?

Thanks

With the bad US-Thai exchange rate, I would definitely get GBP. Why don't you go onto this site and research some dates: www.oanda.com

[Maestro]

1) dollars or sterling?

2)can i deposit either cheque into my thai scb account?

3)charge approx?

4)time to actually being able to withdraw the funds?

1) Up to you. See SCB website for exchange rates for buying cheques in foreign currency.

2) Yes.

3) I believe the same as for inward remittances, ie 0.25% but minimum 200 Baht, maximum 500 Baht.

4) Depends on the time required to clear the check, which in turn depends essentially on the country in which the bank on which the cheque is drawn is located. If outside Thailand, count on two to four weeks.

--------------

Maestro

[soundman]

As maestro pointed out above an overseas cheque drawn on your thai bank account takes between 10 days to a month to clear. (provided there are funds at the other end) You will then be credited with the TT rate on the day of the actual clearing.

Cheers,

Soundman.

[N47HAN]

thanks guys

[Forkinhades]

I had a bankers draft from the UK, and that took, 5 WEEKS to clear with the TMB bank!!!

[mikethevigoman]

Am due to cash out some money from a company and have the option of taking the amount in pounds or dollars. The company concerned will use reutures exchange rate at time of request if i ask for sterling from dollars .

My questions are ...

1) dollars or sterling?

2)can i deposit either cheque into my thai scb account?

3)charge approx?

4)time to actually being able to withdraw the funds?

Thanks

Id send it to the uk ( in gbp ) and draw it here by atm after it clears ,it takes ages to clear here, a month once !

[highchol]

if your cheque is issued by a foreign bank and presented in the uk it can take months to clear. Read your uk banks small print " several weeks " to clear....they can run you ragged.

My advice get them to telex transfer the money..lot easier in the long run.