Cashing Personal Check

[jimmym40]

Anyone have any experience with cashing a personal check on a US Bank here in CM?

I really don't care how long it takes to "clear", just want to know if and where it's possible. What bank will do it?

[Rice_King]

I cannot comment on a personal check, but I will relate to you my experience last month with a registered check. The check was in the amount of $200 USD and was issued by a US State treasury. When I inquired at my branch of Bangkok Bank about depositing it in my account there, I was quoted a cost of 1,000 baht for the pleasure of doing so and a wait time of about three weeks. (Thanks... but NO way!) I mailed the check, with deposit slip, to my bank in the US, signing it with for deposit ONLY. It appeared in my account about 10 days later.

Edited July 30, 2008 by Rice_King

[PeaceBlondie]

Kasinkorn Bank only charged me about 320 baht for each IRS refund check. They believed my identity, but did not have any faith that the US Treasury would cash the check, so I had to wait three weeks. I will guess that a personal check is like a US Treasury check - they just forward it for clearing and wait till it clears.

[Tywais]

I've done it about 5 times in the last year. All with Bangkok Bank and the charge was 300+ Baht. Quoted 45 days but always cleared in 21 days. These were rather large sums which made the charge minimal.

[Mapguy]

Banks? Well, there is some useful experience here, especially if you are an account holder of some standing.

Banks are understandably wary. If you are on a trip and out of cash, you do indeed have a problem.

Not that anyone has meant to impune Thai banks, but the reticence of Thai banks to honor checks without the long confirmation process is certainly no more unexpected and onerous than banks in most countries. And I can understand the extra service charge, which may vary.

If it isn't a "travel" situation, then I suggest that the easiest and cheapest way is to keep a "home base" bank and mail off the check to that bank with a deposit slip, as previously advised.

For those in a travel situation? Better call the number on the back of your credit card to confirm the need for cash. There have got to be more ATMs per capita in Thailand than in any place in the world! Or you could try Western Union (probably --- I have never had the experience and don't know any details but offices are around town, such as in Central in Kad Suan Kaew).

Or as AMEXCO probably still says (and charges probably more than 25% per annum for the privilege of cash advances), don't leave home without it!

Otherwise, I know a great guy from (is it?) Burma, Laos, or China who will give you cash bhat for your check and your wrist watch! No... actually, I have forgotten his name.

Edited July 30, 2008 by Mapguy

[mcgriffith]

My dear old mother made the mistake of mailing me a check, payee an American bank, payable to me.

I promptly mailed it back to the US, for deposit to an account there.

Checks/drafts, etc. issued by foreign banks in foreign currencies (to Thailand) as noted above take forever to clear, and with big charges.

If you set up a special deposit account (say for regular US Social Security payments), fill out a bit of paperwork, etc.- you should not have these problems.

But trying to cash a personal check, drawn on a foreign bank, denominated in a foreign currency.....?

Look at it this way.

Say Mr. Gomez, from Rosario Argentina, walked into your local hometown branch in the UK, or wherever, with a personal check, denominated in pesos, drawn on the Banco De Rio Plato.....

[Mapguy]

My dear old mother made the mistake of mailing me a check, payee an American bank, payable to me.

I promptly mailed it back to the US, for deposit to an account there.

Checks/drafts, etc. issued by foreign banks in foreign currencies (to Thailand) as noted above take forever to clear, and with big charges.

If you set up a special deposit account (say for regular US Social Security payments), fill out a bit of paperwork, etc.- you should not have these problems.

But trying to cash a personal check, drawn on a foreign bank, denominated in a foreign currency.....?

Look at it this way.

Say Mr. Gomez, from Rosario Argentina, walked into your local hometown branch in the UK, or wherever, with a personal check, denominated in pesos, drawn on the Banco De Rio Plato.....

Yep!

[FolkGuitar]

Anyone have any experience with cashing a personal check on a US Bank here in CM?

I really don't care how long it takes to "clear", just want to know if and where it's possible. What bank will do it?

Open a foreign currency account with K-Bank, and you can deposit your checks and await clearance. Depending upon the source, the funds should be available anywhere from three to seven weeks. Of course there is a charge for each check, so if the check is for less than, say, $15 USD, use it as wallpaper.... it will cost more to cash it.

The alternative is, should you be receiving regular foreign checks, set up an account in your home country so you can deposit the checks either automatically or by mail, and withdraw using an ATM in Chiang Mai.

[jimmym40]

Thanks for all the responses. I should have included a bit more information. This would be a one time shot only and approx 9,000 USD. I do have a long standing account with Bangkok Bank and will check with them.

It was good to get other opinions.

[L&J]

Last week we deposited the US Treasury check into our account at Bangkok Bank in Kad Suan Kaew shopping center and

did have to pay 200 baht but it was cleared IMMEDIATELY and credited to the account. This is not true for personal

checks, which can take up to 30 days but generally less than 21 days at least at Bangkok Bank.

[PeaceBlondie]

Last week we deposited the US Treasury check into our account at Bangkok Bank in Kad Suan Kaew shopping center and

did have to pay 200 baht but it was cleared IMMEDIATELY and credited to the account. This is not true for personal

checks, which can take up to 30 days but generally less than 21 days at least at Bangkok Bank.

Glad to here that at least one bank in Thailand (which may be the only Thai bank with a branch in New York) still thinks the US Treasury honors its checks. Neither Bank of Ayuddayha or Kasinkorn has done that for 3 IRS refund checks I deposited over the years.

[Bill97]

The account holder's relationship with the bank can influence the way the bank handles the check, it is not the check alone.

[Bill97]

Last week we deposited the US Treasury check into our account at Bangkok Bank in Kad Suan Kaew shopping center and

did have to pay 200 baht but it was cleared IMMEDIATELY and credited to the account. This is not true for personal

checks, which can take up to 30 days but generally less than 21 days at least at Bangkok Bank.

Glad to here that at least one bank in Thailand (which may be the only Thai bank with a branch in New York) still thinks the US Treasury honors its checks.

A Google of "thai bank in new york" indicates that there are other Thai banks with branches in New York.

[silverhawk_usa]

Thanks for all the responses. I should have included a bit more information. This would be a one time shot only and approx 9,000 USD. I do have a long standing account with Bangkok Bank and will check with them.

It was good to get other opinions.

I have twice deposited personal checks made out to me in the amount of $6,000 at BKK Rimchoke. There is a $10 fee and the checks cleared in 30 days. No other transaction fees were charged at either end. Quite friendly staff there who also spoke English. Their one comment was that they will only do this if you have been a "long time" account holder.

[L&J]

There was one sidelight to depositing our US Treasury check. It was made out to my wife and I

and since we each have separate accounts at Bangkok Bank we were told we would need to open a joint account

to deposit the check. I replied that was fine but as soon as the check would be credited to the joint account

we would withdraw the funds and close the account. At that point it was "decided" that it didn't need to go

into a Joint account after all. Surely the bank staff gets credit for all new accounts but not if they close out

immediately.

[Mapguy]

Anyone have any experience with cashing a personal check on a US Bank here in CM?

I really don't care how long it takes to "clear", just want to know if and where it's possible. What bank will do it?

I am going back to the initial query here.

Hmmmmmmmmmm?

Why is it that so many people who post here don't bother to do any homework --- don't even use the "search function" (which is indeed more than a bit awkward), or --- in this case --- just visit a bank or two, for pete's sake, to get some information! Why would they blindly seek even fundamental advice from a public bulletin board of all places? [Hey, let me tell you about a deal....!].

In this case, why not just chat with a couple of bank managers!!! Over a period of time, sure, you get to know a few people on thaivisa locally and you come to listen to what some people say (and there has been some very decent advice on this thread). Never mind "Cruising in Chiang Mai" unless you are seriously concerned about (and perhaps not able to) navigate the notorious step at Spicey's! You really want to listen to the next guy you meet that walks down the cyber alley!!! Oy!

P.S. By the way, many of the regulars here are quite nice folks who will give you a very straight-forward (in their view) answer that might or might not be helpful depending upon the number of glasses of red wine consumed and other more serious factors. Caution! Some have been known to yank more than a few chains, and a few are very clever at it.

P.P.S. There is one very suspicious thread at present! Find it! And it isn't about kitties.

[Bill97]

Why is it that so many people who post here don't bother to do any homework

Yeh, it is like they have some kind of paper allergy so they can not touch a book or map, others can not seem to speak or listen let alone read, and so few bother with Thai language or culture. Hasn't it gotten a lot worse in the last year or two? Are they are some new category of handicapped that warrants special treatment?

[cophen]

A cheque (check) is a piece of paper. It has no validity at all until it reaches the institution that issued it and they agree to honour it.

[jimmym40]

Okay MAPGUY, I somewhat agree with you. However, how long have you been in Thailand or are you even IN Thailand?

You know, when some people ask for advice, they do a search, however, the comments are OLD.

You should know, this is Thailand, and things CHANGE on a DAILY basis, so I wanted any up to date information.

[Bill97]

Okay MAPGUY, I somewhat agree with you. However, how long have you been in Thailand or are you even IN Thailand?

You know, when some people ask for advice, they do a search, however, the comments are OLD.

You should know, this is Thailand, and things CHANGE on a DAILY basis, so I wanted any up to date information.

Exactly, things change fast in Thailand, so the only way you are going to find out if you can cash your check is go to the bank and ask. Also if you are in Thailand, you should know that the service given to people is not equal so any answer you get here may not apply to you. Given those well known facts, your question can not be answered on a forum. But since you state that you are not concerned about how long it will take to clear the check, I will make an exception to the rules to solve your problem and I will cash it for you.