Us Cashier's Check

[Stephen99]

Hi,

A friend of mine has come here to retire, and has brought a cashier's check with him.

The check is in US dollars and is drawn on JP Morgan Chase - the payee is himself.

Will Thai banks accept it as a cashier's check or will it take a while to clear?

Thanks!

[Ratsima]

I've done this before with a cashier's check drawn on a US bank, but only at Bangkok Bank. I think they charged a fee of about 1000 baht and it took a month for the check to clear. The exchange rate they gave us was that in effect on the day they credited the account, not the day we deposited the check.

[lopburi3]

It will be handled as any other check and take the normal 3-8 weeks to clear and cost about $30 to deposit. Believe there will be a 1,000 baht hold on his account balance until the check is cleared (at Bangkok Bank anyhow). Checks are not liked in Thailand, be they local or foreign.

[PeaceBlondie]

Kasinkorn charged me about 300 baht to cash IRS refund checks. As far as I knew, they held back all the funds until they thought it cleared, which was many weeks.

[eljeque]

Cashier's check or personal check. Siam Commercial Bank, or any bank where he has an account will genrally tell him 45 days, but will in fact have the funds available in his account in about 21 days.

The fee will be in the 500 baht to 1,000 baht range.

He does not make the deposit in the normal deposit and withdrawal line, but in the international exchange desk.

[Pakboong]

JP Morgan has a Bangkok branch. Close to he Lumphini Park Metro stop.