Time To Clear Bank Draft In Thailand ?

[Trevor]

Bank drafts are quite cheap, e.g. Barclays £8, versus £28 for a telex transfer. But once your friendly Thai bank has received the draft or money order, just HOW LONG does it take to clear the funds? Some say WEEKS, which is really not practical for tourism or business purposes.

Khawp khun khrup.

[MadFrankie]

I would vary from bank to bank I would expect, and would probably also depend on the method your using to do the transfer

[Darlek]

Bank drafts are quite cheap, e.g. Barclays £8, versus £28 for a telex transfer. But once your friendly Thai bank has received the draft or money order, just HOW LONG does it take to clear the funds? Some say WEEKS, which is really not practical for tourism or business purposes.

Khawp khun khrup.

not a good idea i had some which didnt clear for ages for some reason then i heard from my bank that the thai bank had given up on clearing bank drafts.

they just refused to clear them ! cant figur eout why as they are supposed tobe foolproof

[george]

Bangkok Bank clears USD cheques in 21 days.

[Trevor]

Thanks for replies. Looks like banks make more money on telex transfers and traveller's cheques so can't be bothered with the cheap but inefficient draft / money order system.

[lopburi3]

Thanks for replies. Looks like banks make more money on telex transfers and traveller's cheques so can't be bothered with the cheap but inefficient draft / money order system.

I would say that they are protecting themselves from fraud; and probably for very good reason.