Check Clearing

[kerryk]

How long does it take a money order (cashiers check) from a US bank to clear if deposited in a Thai bank?

How long does it take a personal check from a US bank to clear if deposited in a

Thai Bank?

Thank you in advance

[ProThaiExpat]

Personal check at BKK Bank takes just short of 30 days to clear. No reason to believe a cashier's check will clear faster.

The mechanics are believed to be as follows: Check goes from local branch to central branch in BKK to the international division who then sends it on to the New York branch where it is entered into the U.S. depository system. When the Federal Reserve credits the BKK Branch in New York's account, the international division in BKK is notified and credited internall, and then it is sent on to the branch who credits your account.

Many manual steps involvd and lazy staff delays all along the way.

As you know, the bank makes overnight interest on every day it has control of the money so perhaps the obtaining your funds step is a lot faster than crediting you.

I have determined that even with wire transfers, the funds can sit in the BKK Bank main office for days before they get around to crediting your account.

SCB on wire transfers is far faster, how they are on checks I don't know.

[madmadang]

Personal check at BKK Bank takes just short of 30 days to clear

30 days is quick.Have known it take six weeks to clear a check.

[croftrobin]

I regularly write a cheque from one of my UK bank accounts and deposit it in my Kasikorn account.

The money comes out my UK account after about 2 weeks ( I check online) and 2-3 weeks later the funds are deposited in my Thai bank account.

Cost to bank the cheque is 10 US dollars at the US to THB rate on day of deposit (around 400 ish) and when the cheque is cleared into my thai account I get the rate (GBP-THB) that day. No other charges are due.

For me is a lot cheaper than withdrawing funds using my UK ATM card.

Thai immigration are also happy with this as a means of showing funds coming from abroad for visa extension purposes - as I have been doing this for nearly 3 years

Edited July 4, 2005 by croftrobin

[samran]

I regularly write a cheque from  one of my UK bank accounts and deposit it in my Kasikorn account.

The money comes out my UK account after about 2 weeks ( I check online)  and 2-3 weeks later the funds are deposited in my Thai bank account.

Cost to bank the cheque is 10 US dollars at the US to THB rate on day of deposit (around 400 ish) and when the cheque is cleared into my thai account I get the rate (GBP-THB) that day.  No other charges are due.

For me is a lot cheaper than withdrawing funds using my UK ATM card.

Thai immigration are also happy with this as a means of showing funds coming from abroad for visa extension purposes - as I have been doing this for nearly 3 years

<{POST_SNAPBACK}>

Croftrobin,

What particular piece of evidence in this whole process does immigration accept as the evidence that you have sent money from overseas?

[croftrobin]

I regularly write a cheque from  one of my UK bank accounts and deposit it in my Kasikorn account.

The money comes out my UK account after about 2 weeks ( I check online)  and 2-3 weeks later the funds are deposited in my Thai bank account.

Cost to bank the cheque is 10 US dollars at the US to THB rate on day of deposit (around 400 ish) and when the cheque is cleared into my thai account I get the rate (GBP-THB) that day.  No other charges are due.

For me is a lot cheaper than withdrawing funds using my UK ATM card.

Thai immigration are also happy with this as a means of showing funds coming from abroad for visa extension purposes - as I have been doing this for nearly 3 years

Croftrobin,

What particular piece of evidence in this whole process does immigration accept as the evidence that you have sent money from overseas?

I keep copies of the foreign currency cheque lodgement slips from the bank and provide them with the other paperwork at time of the visa extension application