Spaniel Posted September 7, 2012 Share Posted September 7, 2012 I received a $41.00 refund check from a company in the USA. Since I don't have an account in the US to send it to is their any way to cash it here in Bangkok? Link to comment Share on other sites More sharing options...
BillyBobThai Posted September 7, 2012 Share Posted September 7, 2012 If you have an account here in Thailand, you can deposit it and wait 3 to 4 weeks for it to clear before getting the funds. Link to comment Share on other sites More sharing options...
Microwave Posted September 7, 2012 Share Posted September 7, 2012 I doubt that you'd receive the full amount of the cheque as there would be some % of commission (or flat fee) for depositing a foreign currency cheque into your account. Link to comment Share on other sites More sharing options...
uptheos Posted September 7, 2012 Share Posted September 7, 2012 Bangkok Bank charge 150 Baht for the deposit and give you whatever the exchange rate is on the day it goes through. Link to comment Share on other sites More sharing options...
Sateev Posted September 7, 2012 Share Posted September 7, 2012 If you have an account here in Thailand, you can deposit it and wait 3 to 4 weeks for it to clear before getting the funds. More like 45 days. Link to comment Share on other sites More sharing options...
Spaniel Posted September 7, 2012 Author Share Posted September 7, 2012 Thanks for the info. I do have an account with Bangkok Bank so next week when I'm in town I'll try to deposit it. Link to comment Share on other sites More sharing options...
WilliaminBKK Posted September 7, 2012 Share Posted September 7, 2012 Bangkok Bank charge 150 Baht for the deposit and give you whatever the exchange rate is on the day it goes through. Just to clarify "Exchange rate is on the day it goes through" if I deposit on 01SEP and it clears on 15OCT it will be the exchange rate on 15OCT ? ? ? meaning the date it is credited to the account not posted ? Link to comment Share on other sites More sharing options...
Tafia Posted September 8, 2012 Share Posted September 8, 2012 If you have an account here in Thailand, you can deposit it and wait 3 to 4 weeks for it to clear before getting the funds. More like 45 days. Paid numerous UK cheques into my Bkk Bank Acc only ever taken between 20-28 days Link to comment Share on other sites More sharing options...
kamalabob2 Posted September 8, 2012 Share Posted September 8, 2012 You might look at the Bangkok bank web site. You might also consider phoning them and they can tell you on the phone ALL of the fees to deposit a check from America. Below is from the Bangkok Bank web site. I've never deposit a check here, drawn on a US bank, so I do not personally know how ALL the fees work out. Bangkok Bank advances the payment prior to collection from the foreign bank 200 Baht plus 3 Baht stamp duty per draft Foreign bank returns the draft as it cannot be collected 200 Baht per draft plus any additional fee imposed by the foreign bank. Bangkok Bank will also charge interest for advance payments to customers. The default payment loan interest rate is calculated from the date that the bank makes an advance payment to the customer until the date that the customer makes a repayment. Bangkok Bank collects from the foreign bank before paying to the customer USD 10 plus 3 Baht stamp duty per draft and any additional fees collected by the foreign bank Link to comment Share on other sites More sharing options...
Pib Posted September 8, 2012 Share Posted September 8, 2012 Beginning to look like after all the fees are applied there won't be much left to deposit. Link to comment Share on other sites More sharing options...
asiawatcher Posted September 9, 2012 Share Posted September 9, 2012 It would be far easier to assign the cheque if not marked 'Account Payee Only', and endorse it over to a relative who can then bank it in the US without extraneous charges and have your endorsee bank Thai Baht to your account here from overseas. Link to comment Share on other sites More sharing options...
Spaniel Posted September 11, 2012 Author Share Posted September 11, 2012 Thanks for all the suggestions. Here is what I did. Last night I called my son's bank in the USA to enquire if they would cash it. They said they would but I had to be there to endorse it and show ID. Then I could deposit it to my son's account. Well that's out since I don't have any immediate plans to go to the USA. So this morning I went to the Bangkok Bank branch where I have my account (Sukhumvit Road near Soi 8). They said I must go to the main branch on Silom. So I went to the Silom head office, completed a form, presented my bankbook, and a copy of my passport and visa and the check. They said it would be credited to my account in Bhat in 7 days and they would deduct 203 bhat service charge. They said if the check "bounces" then their would be several other charges plus they will charge interest for the money they already paid. Pretty simple as long as the check doesn't bounce. Link to comment Share on other sites More sharing options...
Pib Posted September 11, 2012 Share Posted September 11, 2012 Good deal. But too bad your branch made you go to the HQ to cash the check....all of that adds up cost-wise in getting the check cashed not to mention inconvenience. Do you know what exchange rate they gave you? That is, TT Buying Rate like you get in wire transfers, Sight Bill Buying Rate like you get for traveler checks, Notes Buying Rate, etc.? If I had to guess I would guess the Sight Bill Rate. Link to comment Share on other sites More sharing options...
lopburi3 Posted September 11, 2012 Share Posted September 11, 2012 Do not believe you have to go to Silom but you do have to do at a branch authorized foreign exchange (not all are). Link to comment Share on other sites More sharing options...
Spaniel Posted September 12, 2012 Author Share Posted September 12, 2012 Good deal. But too bad your branch made you go to the HQ to cash the check....all of that adds up cost-wise in getting the check cashed not to mention inconvenience. Do you know what exchange rate they gave you? That is, TT Buying Rate like you get in wire transfers, Sight Bill Buying Rate like you get for traveler checks, Notes Buying Rate, etc.? If I had to guess I would guess the Sight Bill Rate. I didn't ask about what exchange rate they would use since it was only a $41.00 check. I would have certainly paid more attention if it were a bigger check. Link to comment Share on other sites More sharing options...
Spaniel Posted September 12, 2012 Author Share Posted September 12, 2012 Do not believe you have to go to Silom but you do have to do at a branch authorized foreign exchange (not all are). Could be. I would have thought that the branch on Sukhumvit would do it as they deal with lots of foriengers, but not so. Link to comment Share on other sites More sharing options...
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