Cashing A Check

[tajartale]

Somewhere in this mess about the ATM fees vs wiring money, I read that it is possible to have a check cashed over the counter at some banks. Is this true? A personal check? From the USofA?

Are there limits to this? What are the fees?

Any info?

[Gary A]

Most banks will cash a check. Some require you to have an account with them. The problem is the wait. They won't give you the money until the check clears and the clearing time is 30 to 45 days.

[nakachalet]

try bangkok bank, several years back, i took in several third party checks for various reasons, it took about 21 days for clearance. the offer for discount from face value was 15%. it was fortunate that there was no NSF. nowadays, most tourists are using their credit cards instead of personal checks. the added on fees for purchase was about 2-3%. gary was correct, many times a person would have to wait for a month or so before funds in thai baht would be handed to you, even though the bank might already have received the clearance in usd from the issuing banks in the us. the thai banks just want to hold on to your money and many others' for a while longer in their accounts. normally, no one from the bank would call you either to inform you that you may come in to pick up your thai baht.... lol

[Thanyaburi Mac]

Somewhere in this mess about the ATM fees vs wiring money, I read that it is possible to have a check cashed over the counter at some banks. Is this true? A personal check? From the USofA?

Are there limits to this? What are the fees?

Any info?

I cash a personal check at my local SCB branch on my U.S. credit union. Do it in the $$$ equivalent of baht 65,000 and change so I can show Immigration that amount coming in monthly.

There's one paper to sign at the bank, and yes, they hold access to the funds for 45 days, altho interest is accrued from date of deposit.

Exchange rate is good. For example, it'd be 33.7 if I did one right now at the bank:

http://www.scb.co.th/exchange/bk-txtexchange.htm

Charges about to baht 203, that's baht 200 for the bank and a baht 3 Thai tax stamp.

Been doing this for lots and lots of years now, nary a problem.

Mac