Bangkok Bank - Can You Put Personal Checks In The Bank

[vacationman]

Question for you guys there in Chiang Mai.

I have a Bangkok Bank - Bank Account.

Does anyone know if they accept Checks written from personal accounts in America.

If so how long to clear the bank where funds would be accepted.

Trying to figure out the best way to bring money into Thailand without going over the $10,000

limit allowed when traveling.

Thanks.

[JohnLee]

Can't say about Bangkok Bank but I have used this method several times with Kasikorn and no problems. They say it takes 40 days to clear and end up in your account. I guess this has a safety margin build in, in fact on every occasion it has taken only 3-4 weeks. My UK bank does not charge for the clearing process and Kasikorn charges 200 Baht/transaction.

Cheers

JL

[Beetlejuice]

My advice is, don`t use this method.

A Thai bank will accept personal cheques from anywhere in the world.

The cheque takes from 4 weeks up to 6 weeks to clear.

Then you will be charged the same bank fee as pertains to a Telegraphic Transfer. In the case of a personal cheque paid in sterling, it is from £25 to £40.

So you could wait up to 6 weeks for the cheque to clear, still be charged the same as a TT and you will receive the exchange rate according to what it is on the day that the cheque clears, not when the cheque was paid in.

2 years ago one of my personal cheques, for the amount of £4000 somehow got lost in the system. I was still charged the £25 bank fee. My Bangkok bank blamed my UK bank for the problem and my UK bank blamed the Bangkok bank. It took 3 weeks to resolve the problem and by that time the exchange rate had gone down 4 bahts in the £ and I lost out big time.

[Tywais]

I've used Bangkok Bank several times for this and it has been 3 weeks for the money to show in the account. There is a $10.00 (300 Baht) administrative fee for the transaction. Conversion rates were the same as TT.

[vacationman]

Thanks for the input.

[silverhawk_usa]

I've used Bangkok Bank several times for this and it has been 3 weeks for the money to show in the account. There is a $10.00 (300 Baht) administrative fee for the transaction. Conversion rates were the same as TT.

Same; I have been using, and recommending, this process for a number of years. There are no fees or service charges at either end other than the $10. I asked what the max amount was that they would accept, and Bangkok Bank said it had recently been increased to $50K. Note: it is deducted from your U.S. account almost immediately. They say it takes 1 month to process, but usually it is just over 3 weeks before it shows up in your account here.

[NancyL]

I've used Bangkok Bank several times for this and it has been 3 weeks for the money to show in the account. There is a $10.00 (300 Baht) administrative fee for the transaction. Conversion rates were the same as TT.

Same; I have been using, and recommending, this process for a number of years. There are no fees or service charges at either end other than the $10. I asked what the max amount was that they would accept, and Bangkok Bank said it had recently been increased to $50K. Note: it is deducted from your U.S. account almost immediately. They say it takes 1 month to process, but usually it is just over 3 weeks before it shows up in your account here.

Also the same story for us. They say it takes 30 days, but start to check your account after a couple of weeks -- the funds always show up before their 30 day promise. Also, see what your U.S. bank charges for wire transfers. Our U.S. credit union charges just $10 for a wire transfer and BKK Bank charges something really small, like 100 baht, so we use wire transfer if we're in a hurry for the money. Most finanacial institutions in the U.S. charge much more than $10 for a wire transfer, though.

Incidentally, I'm so glad we kept small accounts at the credit union of a former employer for many, many years. We did our banking with banks in the U.S. for years, but when we shut down our business and retired to Thailand, we investigated U.S. banking options and decided to consolidate everything back to the old credit union. They charge just 1% foreign exchange fee on their visa card (3% is the norm), there's no annual fee on the visa card, we get cash back on that card, based on the "profits" of the credit union. Plus, there are something like 6 ladies in their call center so it's been easy to get to know them. They're very used to working with U.S. residents living overseas since it's the credit union of a multi-national corporation. Of course we do internet banking thru them to handle our few remaining U.S.-based bills, but just about any financial institution has that feature.

[lopburi3]

It has been many years since I have used Bangkok Bank for a check but as I recall they charged $10 plus .25% exchange plus put a hold (bad check fee charge) on account for the three week period check was pending and were extremely negative (but this was not my check (to me) so may account for caution). This at a foreign exchange bank branch where have hold account 20 years and never been below six digits on deposit.

Use ACH transfer for funds to Bangkok Bank NY and transfer here as normal method and have started to use 1% debit cards as very close to same total loss when cashback counted and most places here now welcome cards. For those pinching tighter there are zero percentage cards available from some places.

Do not believe there is any 10k limit to funds when traveling. There are requirements to report more than that perhaps but nothing prevents having more that I know of (but admit have not traveled in awhile).

[Berkshire]

Perhaps BKK Bank takes personal checks written by the account owner, but I can tell you that they do not accept third-party personal checks, i.e., if someone writes you a check. I tried to deposit one recently, they took it, I paid the fee, and a couple of weeks later, was told that they couldn't take it (by main BKK office, I guess). They refunded me the fee in its entirety.

[NancyL]

We've had BKK Bank accept deposit of 3rd party checks, but not 3rd party personal checks. As I recall, they were checks for an income tax refund and the settlement in closing the sale of our home in the U.S.

It's widely assumed that the legal limit for a U.S. citizen removing cash from the U.S. is $10,000. I couldn't really find an actual verification of that in doing quick internet search. That's how much we brought in when we moved here and we were extremely nervous having that much cash on our person when traveling, but it did create nice customer service at the KSK branch of Bangkok Bank when we plopped it down on the counter, saying we wanted to open an account.

I know American citizens who have come into Thailand with more than $10,000 in cash on their person, but they didn't declare it to anyone. May not be legal.

[jjczap]

I have been depositing personal checks into BKK Bank for many years from my Fidelity acct in America and have immediate access to the funds. If you are a customer in good standing they have a process that is basically filling out a form in which you guarantee to pay back the funds if there is a problem with the check and of course the manager has to sign also. The key is being recognized as a good customer by the manager. Also when I check Fidelity as to the status of the check on average the funds are deducted from my account in 3 business days. Very easy efficient process.

[MrBrad]

I, too, have written a personal check from my account in the US, and it took some 40+ days to see the money in my Bangkok Bank account here. Since then, though, I've completed the paperwork at my US credit union to have on-going transfers to my account here in Chiang Mai through the Bangkok Bank in New York.

The fee is minimal, $20 I think at the credit union, regardless of the amount. Bangkok Bank charges no fee. And the money can be had in less than 24 hours. I send an email to the credit union early evening here; they process it promptly and get it to New York, and the following day after 12 noon, I see the deposit here. Painless.

Bangkok Bank New York

[hml367]

I, too, have written a personal check from my account in the US, and it took some 40+ days to see the money in my Bangkok Bank account here. Since then, though, I've completed the paperwork at my US credit union to have on-going transfers to my account here in Chiang Mai through the Bangkok Bank in New York.

The fee is minimal, $20 I think at the credit union, regardless of the amount. Bangkok Bank charges no fee. And the money can be had in less than 24 hours. I send an email to the credit union early evening here; they process it promptly and get it to New York, and the following day after 12 noon, I see the deposit here. Painless.

Bangkok Bank New York

In the link you provide there is a link to "view the fees"....

In addition, I would suggest anyone using this avenue to transfer to check the exchange rates. There is a certain amount where there is a difference because of the exchange rate. It has been discussed at length many times on ThaiVisa.

MSPain

[mesquite]

We've had BKK Bank accept deposit of 3rd party checks, but not 3rd party personal checks. As I recall, they were checks for an income tax refund and the settlement in closing the sale of our home in the U.S.

It's widely assumed that the legal limit for a U.S. citizen removing cash from the U.S. is $10,000. I couldn't really find an actual verification of that in doing quick internet search. That's how much we brought in when we moved here and we were extremely nervous having that much cash on our person when traveling, but it did create nice customer service at the KSK branch of Bangkok Bank when we plopped it down on the counter, saying we wanted to open an account.

I know American citizens who have come into Thailand with more than $10,000 in cash on their person, but they didn't declare it to anyone. May not be legal.

There is no limit on the amount of cash that one can legally take out of the United States. However, if the amount is over $10,000 the person must fill out a form

https://help.cbp.gov/app/answers/detail/a_id/195/kw/carrying%20cash%20in%20excess%20$10,000

Edited June 22, 2011 by mesquite

[vacationman]

Thanks again for all the helpful comments.

[MrBrad]

Earlier this month I transferred US$5,000 through Bangkok Bank in New York. My deposit here in Chiang Mai amounted to 150,072.38 baht, which is 30.014 baht to the dollar. Again, my credit union charged $20 for the wire ($5,020 was debited on my account). That's good enough for me.

[dannybrewer2000]

If you have a Bangkok Bank account you can transfer money from you America bank account to your Bangkok Account by using the Bangkok Bank in New York. They will only charge you $12.00 for the transfer and you account will be credit as soon as the Bangkok Bank New York receives transfer. It's the best way. If you have e-banking with your stateside account you can do it on line or call your bank and have them do the transfer for you. It's the fastest way I know possible.

[CaptHaddock]

If you need to cash US checks regularly, you might open an account at one of the banks/credit unions that will cash a check based on a computer scan, such as Pentagon Federal (cu) or USAA Bank (but only if you are military or former military). There are others as well. You could then transfer the funds to BB via ACH or wire, etc.