Hi all,

Is it possible to pay in a cheque from a UK bank account in sterling to a thai bank?

Is this a good way to get a healthy exchange rate and how long would it take to clear?

Thanks

I would think the cheque would be sent to the UK for clearance and once cleared you would get the exchange rate at that time - Bank charges would also be high - So I wouldn't bother

I haven't done it for some time, but yes, it's possible.

It was $US10 processing fee and it takes between 2 and 6 weeks to clear. You have no control over the exchange rate as you will get the rate that is in force on the day it clears. Should be the same as the TT rate.

Often you can only do this at the branch with your account.

At least my experience doing checks on USD at Bangkok Bank was 3 weeks for it show up in the account and around 300 Baht charge. Exchange rate was onshore rates.

The simple answer is yes and the counter staff are, in my experience, very helpfull.

as mentioned elsewhere, there are a few drawback;

• the cheque will be cleared in the UK, this also goes for bankers drafts etc and this can take 30 to 50 days it depends on how well the paperwork was done, if someone had a heavy night etc
  
• if the sum breaches the $20k limit you will have to explain the reason for it and this can delay things
  

i find the charges, if any are hidden and given the exchange rate tends to be better than uk tourist you are often better off.

Transfer (wire) is much faster (a couple of days) but my bank has a heavy charge so the next time i am in the uk i may just get a wad of old fashioned cash and do it that way!