Depositing Usd Checks In Los

[Shah Jahan]

My Thai wife receives Checks from a US bank drawn for USD periodically mailed to her from the States.

Currently in order to deposit these, we need to go into Bangkok Bank and wait while they run in circles for 1/2 hour and then pay some fee and maybe in 30+ days the money shows up in THB at whatever exchange rate they please

I would like a way to improve this process.

TOday I went to Bank of Adyutha because I heard they have USD dollar accounts.

After a broken conversation with the branch manger, it seems that even though they have USD accounts, there is still the same issue with having to run in circles and wait a long time to deposit the checks

What I would like to know is there any solution in Thailand (or even neighboring country if we could automate the process)

That will make depositing these USD checks quicker and less cumbersome.

Thanks for your replies.

[Garry9999]

Is there any way you can change from checks to electronic transfer?

I get money via electronic transfer from Australia in AUS$ sent to my Kasikorn account, it only takes 2-3 days and the exchange rate is alway very good.

[retiredusn]

I have some of my insurance checks sent to me in Thai baht from the US it only takes about 2 days to clear.

[lopburi3]

I have some of my insurance checks sent to me in Thai baht from the US it only takes about 2 days to clear.

Please check the exchange rate on those transfers as it is normally very, very bad if they send Thai baht from the US. As a rule it is much better to send USD and have the conversion take place in Thailand at the local bank TT buying rate.

Thai banks do not like checks; any checks. So foreign checks are even less desired. They impose various fees (usual is about $10 to process and then another fee after process). Normal wait is about 3 weeks. The exchange rate will be what happens to be in effect when they say it is cleared so can vary a lot.

An alternative is to not deposit checks here - send to US account. I use a local shophouse post office and have not lost a letter in the 3 years I have been using them. It is slow at about 2-3 weeks to US but has been reliable. Post Office EMS or registry should also be reliable and faster. You still have the problem of getting funds here but I do that with occasional large wire transfers.

[ballbreaker]

She should ask the US bank if they can wire funds instead of sending paper checks. If they say okay the funds can be wired to New York branch of Bangkok Bank using its ABA routing number with instructions to deposit in wife's account, which she will provide. Bangkok Bank branch in New York then sends to her branch and account in Thailand. Conversion to baht is done in Thailand.

I send money to Thailand by this means from my brokerage account all the time but

transfer fees are involved.

Edited June 13, 2009 by ballbreaker

[Shah Jahan]

She should ask the US bank if they can wire funds instead of sending paper checks. If they say okay the funds can be wired to New York branch of Bangkok Bank using its ABA routing number with instructions to deposit in wife's account, which she will provide. Bangkok Bank branch in New York then sends to her branch and account in Thailand. Conversion to baht is done in Thailand.

I send money to Thailand by this means from my brokerage account all the time but

transfer fees are involved.

That is an idea for sure.

Its Clickbank she gets the checks from , so they are slightly inflexible, but I can check.

[Jimjim]

I'm gonna say they're most likely inflexible.