Cashing Us Checks In Thailand

[dotx]

I'm expecting some money from a US company. If I deposit American checks in my Kasikorn account, any idea how long the checks take to open? And how much do they charge for the service?

[cougar52]

Several years ago, (2005), I deposited 20,000 in Bangkok Bank and it took nearly 3 weeks to have it posted in my Thai Bank. And that was a certified Check on top of it.

Edited June 24, 2011 by cougar52

[dotx]

That doesn't sound very promising.

[dave111223]

Took me about 3 weeks to clear a check from IRS at TMB.

Note they may do the rolling eyes "It's going to take sooo long, and may never clear at all, maybe you should just deposit it somewhere else" routine for 20 minutes before they finally agree to deposit it.

[gregb]

Typically 30 - 45 days. Some banks like SCB can get it done a little bit quicker, but they still won't guarantee it in less than 45 days. Cost is usually around $30 USD.

I deposited a US check in February into an account at SCIB. Took 33 days to clear and the cost was 500 baht plus $20 USD.

[dotx]

Typically 30 - 45 days. Some banks like SCB can get it done a little bit quicker, but they still won't guarantee it in less than 45 days. Cost is usually around $30 USD.

I deposited a US check in February into an account at SCIB. Took 33 days to clear and the cost was 500 baht plus $20 USD.

Thanks for the info. Doesn't seem like a very good deal. 30-45 days and almost $40. I had a friend in the US cash a check for me and then send me the money via bank transfer. Took 3 days and $45. I was hoping for a better deal so I didn't have to bother my friend again, but I guess it's the best option.

[endure]

A cheque is just a piece of paper. It has to be sent to the USA. Until it reaches your bank in the US and funds have been transferred to the Thai bank there's no guarantee for the Thai bank that you have the necessary funds to cover it.

[Mrjlh]

Why can't you have someone in the states deposit the check in your stateside account for you? Then transfer the money. It would be more secure and faster. Only need to give them the account number, they sign the back "for deposit only", done deal. The mail system here is not secure.

[IMA_FARANG]

Took me about 3 weeks to clear a check from IRS at TMB.

Note they may do the rolling eyes "It's going to take sooo long, and may never clear at all, maybe you should just deposit it somewhere else" routine for 20 minutes before they finally agree to deposit it.

-------------------------------

U.S. Treasury check:

If you have a U.S. treasury check from the U.S. government (i.e. an income tax refund as I just recieved)...and you have a Bangkok Bank account... you can deposit it into your account in the main Bangkok Bank office on Silom Road Soi 5. In that case it will take about 3 days to be credited to your Bangkok Bank branch account. I believe the 2nd floor is where you need to go for that.

So that answers the question on depositing a U.S. treasury check into your Bangkok Bank account. Be sure to bring your passport as they will want to see it.

A personal check:

For a usual paper check from a U.S. bank made payable to you to be deposited to your Bangkok Bank account you should expect between 30 and 45 days for the check to clear from the time they accept it at you branch for deposit to your account. This is because the check has to be verified with the issueing bank in the U.S. and a copy of the check is physically sent to the states for verification. It is not a fast process.

Last November I hand carried a Cashier's check for over $20,000 from my U.S. bank and put it into my Bangkok Bank account for collection. It took about 48 days to clear before the funds were credited to my account

Off hand, I can't remember the fee, and I'm to lazy to go searching for the paperwork right now.

Not sure about how long it would take to another bank becuse I deposited those two checks to my Bangkok Bank account, but I guess other banks in Thailand will be roughly the same.

Edited June 24, 2011 by IMA_FARANG

[Gonsalviz]

3 weeks is good. I would expect a month. I tried to deposit a check at Kasikorn. After 6 weeks they gave it back. Said it couldn't be done. The check was from the US Government which is probably the reason. Not Kasikorn Bank.

[dotx]

<br />Why can't you have someone in the states deposit the check in your stateside account for you? Then transfer the money. It would be more secure and faster. Only need to give them the account number, they sign the back "for deposit only", done deal. The mail system here is not secure.<br />

<br /><br /><br />

I don't have a bank account in the US anymore. Only the ones here in Thailand. So my only option is to have a friend deposit the check in his own account and then do a transfer.

Edited June 25, 2011 by dotx

[lopburi3]

A cheque is just a piece of paper. It has to be sent to the USA. Until it reaches your bank in the US and funds have been transferred to the Thai bank there's no guarantee for the Thai bank that you have the necessary funds to cover it.

Actually the paper check does not have to be sent these days - it can be done online.

[pepi2005]

Are there any regulations about maximum amount of a check?

And, just curious, are checks a legitimate way to transfer cash into Thailand for purchases of condominiums?

thanks, p.

[Gary A]

My refund check from the US IRS last year should have been direct deposited into my US bank. For some reason they sent me a check. I have deposited checks in my Thai SCB account in the past and other than a long time to clear, there was no problem.

This time SCB wouldn't accept that check and they told me they no longer offer that service. My becoming irate brought the manager out and he repeated that they no longer offered that service.

I found the mailing address for my US bank and sent the check to them EMS. Within a week the money was in my US account. It was much faster and all it cost me was the postage.

[lopburi3]

But EMS postage is 600 baht and the last check I sent that way was awaiting delivery for more than ten days by the USPS after it got to destination city. Would have been just as fast and a lot less stress if had just used normal mail service of 14 days at about 37 baht.

But for above poster do a wire transfer so you can obtain the required paperwork (you declare funds for purchase of condo) in case you ever want to sell it and take funds out of country.

[lopburi3]

Nonsense post removed.

[pepi2005]

@lopburi: afaik, these documents are required for condo purchases already, not just when intending to sell.

I just wondered, because basically a check proves the money is coming from out of the country as well, particularly if it comes from a foreign company?