Getting Bank Cheque / Cashiers Cheque From Thai Bank To Deposit Overseas

[fly200009]

Hi,

I have read about the dramas about making a SWIFT transfer and I don't believe I have the necessary documentation.

I am wondering is it possible to get a bank cheque in either THB or USD easily for around USD $100,000 and then send it to the party overseas and they then deposit it into their bank account? Or do the same requirements apply (eg. showing work visa & payslips) apply to getting a bank cheque?

[cougar52]

Why not use Western Union? Send it to someone then they can receive it with proof of identity

[Daveroc]

Whatever channel you use to transfer that amount of money, SWIFT, Bank Draft, Cheque, somewhere along the line you are going to be asked for documentation. The funds are going offshore regardless of the legal methods used.

[cougar52]

Whatever channel you use to transfer that amount of money, SWIFT, Bank Draft, Cheque, somewhere along the line you are going to be asked for documentation. The funds are going offshore regardless of the legal methods used.

If you have the 30,000 Baht in cash or a Thai Bank account, a simple withdrawal or cash to Western Union is all you need no documentation other than a Passport. At the end of the day it is only 1,000 Dollars or the equivalent its not a lot of money.

[Pushit]

Whatever channel you use to transfer that amount of money, SWIFT, Bank Draft, Cheque, somewhere along the line you are going to be asked for documentation. The funds are going offshore regardless of the legal methods used.

If you have the 30,000 Baht in cash or a Thai Bank account, a simple withdrawal or cash to Western Union is all you need no documentation other than a Passport. At the end of the day it is only 1,000 Dollars or the equivalent its not a lot of money.

Read the OP again it's a hundred thousand dollars not a thousand.

Yes questions would be asked.

[IMA_FARANG]

Basically for ANY method of transferring that amount of funds out of Thailand to the U.S. you are going to need:

1. Good documentation of the source of the fumds.

2. Proof to the Thai tax authorities that Thai taxes...if required...have been paid on the funds.

3. And basically, proof that you acquired the funds legally here in Thailand.

Otherwise no bank or agency...including Western Union...is going to transfer that type of funds unless they are certain that the funds are not being illegally transferred...because otherwise THEY may be involved in an illegal financial transaction and therefore be liable to criminal charges later.

Not only that, but to transfer that amount of funds INTO the U.S. is going to set off alarms to the U.S. government financial regulators about where the money is coming from and WHY it is being transferred...both for you and the U.S. person who it is transfrred to.

Edited July 26, 2011 by IMA_FARANG

[cougar52]

Whatever channel you use to transfer that amount of money, SWIFT, Bank Draft, Cheque, somewhere along the line you are going to be asked for documentation. The funds are going offshore regardless of the legal methods used.

If you have the 30,000 Baht in cash or a Thai Bank account, a simple withdrawal or cash to Western Union is all you need no documentation other than a Passport. At the end of the day it is only 1,000 Dollars or the equivalent its not a lot of money.

Read the OP again it's a hundred thousand dollars not a thousand.

Yes questions would be asked.

Sorry, I read to quick I now defer to IAM Farang

[tolsti]

A hundred thousand dollars?

A cheque?

Yess Sirr..... just send it to me and once I have the cleared funds in my account ( and withdrawn immediately, of course) I will happily send you

a) a formal receipt AND

The plans of the bridge that you and all the other Trolls can live under. Free of charge!!

I mean, who else would be so generous especially in the rainy season?

It's a bargain!!

[fly200009]

Hi,

Thank you to IMA_FARANG for his response, but it kind of talks about general money transfer issues rather than about Bank Cheques.

Basically in most countries I could goto a bank and get a bank cheque. The bank does not know whether or not the cheque will be deposited by someone else in the same country or whether or not it will be deposited overseas. For example I have received cheques from US, Hong Kong, Singapore & UK and when I deposit these into my bank account in Australia there is no problem (other than a bit of a long delay).

I guess that I could get a bank cheque in THB fairly easily (I am not sure as I haven't done it, but have done so easily in other countries). My question is when the cheque is deposited into the Australian bank account, would there be any problems? Or do Thailand bank have different restrictions to prevent Thailand cheques being deposited into overseas bank accounts?

[gk10002000]

Hi,

Thank you to IMA_FARANG for his response, but it kind of talks about general money transfer issues rather than about Bank Cheques.

Basically in most countries I could goto a bank and get a bank cheque. The bank does not know whether or not the cheque will be deposited by someone else in the same country or whether or not it will be deposited overseas. For example I have received cheques from US, Hong Kong, Singapore & UK and when I deposit these into my bank account in Australia there is no problem (other than a bit of a long delay).

I guess that I could get a bank cheque in THB fairly easily (I am not sure as I haven't done it, but have done so easily in other countries). My question is when the cheque is deposited into the Australian bank account, would there be any problems? Or do Thailand bank have different restrictions to prevent Thailand cheques being deposited into overseas bank accounts?

Just thought I would mention that some banks do NOT accept checks from foreign banks. I use ETRADE as my routine bank and brokerage and they do NOT accept foreign checks. All the export paperwork aside, you might want to double check with your financial institution how they will accept foreign funds.

[chiang mai]

Go to Bangkok Bank and buy a cashiers check drawn on Bangkok Bank New York (or London), denominated in USD presumably. Courier the check to your home bank for deposit, three days later the funds will be cleared. The conversion rate is the same as the TT rate hence it's very good, the cost of the check is about Baht 150 - if you want to avoid questions being asked then buy ten such checks from say five different banks over the space of two weeks and courier them all, you just need to stay under the BOT limit of USD 20k. per transaction.

I've done the above and it works well.