Are You A Sexpat Or Do You Ride The Backwards Morality Train?

[bigwilly]

My friend has just received a Westpac Bank Cheque from Australia and intends to deposit the cheque here in Thailand in a Thai Bank, the cheque is in excess of half a million AUD. Does anyone see any problems in the cheque being cleared, could it be delayed by the Australian Government? the Bank here say there may be a limit equal to 500,000USD. Anyone with first hand experience? your comments are welcome. We understand there is a 45 day wait for clearing and a 1,000Bt fee.

Note the cheque is from a Superfund with death benefit paid to the beneficiary (Thai).

Thanks BW.

[lemoncake]

I do not have experience with this kind of money by cheque, but see no hassles IF Westpac does not screw anything up.

With evidence of payout by fund, there should not be any problems with money laundering laws.

[bigwilly]

I do not have experience with this kind of money by cheque, but see no hassles IF Westpac does not screw anything up.

With evidence of payout by fund, there should not be any problems with money laundering laws.

lemoncake.

Thanks for your input, there is a letter from the Superfund showing the origin of the funds. So that should be ok.

Thanks BW.

[IMA_FARANG]

Yes, but for a much smaller sum.

I arrived in Thailand in 2010 with a one year Non o visa,

I opened a bank account with that visa and deposited a Bank draft (very similar to a Bank Check, just a different name) into that account,

It took about 60 days to clear my U.S. bank.

However it was only for about $30,000.

It cleared with no real problem.

That it took 60 days to clear didn't bother me as I had other funds to live on for that time, and I had a Non O one year multi entry visa keeping me in Thailand legally anyhow.

The check was for my retirement financial Thai bank account requirement, and it got me a retirement visa/extension in 2011,

it's 2013 now, and I'm still here in Thailand.

That's just the story of my experience as my answer to your question.

Edited May 3, 2013 by IMA_FARANG

[bigwilly]

Yes, but for a much smaller sum.

I arrived in Thailand in 2010 with a one year Non o visa,

I opened a bank account with that visa and deposited a Bank draft (very similar to a Bank Check, just a different name) into that account,

It took about 60 days to clear my U.S. bank.

However it was only for about $30,000.

It cleared with no real problem.

That it took 60 days to clear didn't bother me as I had other funds to live on for that time, and I had a Non O one year multi entry visa keeping me in Thailand legally anyhow.

The check was for my retirement financial Thai bank account requirement, and it got me a retirement visa/extension in 2011,

it's 2013 now, and I'm still here in Thailand.

That's just the story of my experience as my answer to your question.

Hi IMA FARANG.

Thanks for your comments, from what I can find out it is only high value cheques that may be difficult to clear. I am hoping someone here may have personal experience with an oversea bank cheque over half a million USD value. The cheque in question has been deposited so I guess we will see in about 45 days.

Thanks again BW.

[lemoncake]

Yes, but for a much smaller sum.

I arrived in Thailand in 2010 with a one year Non o visa,

I opened a bank account with that visa and deposited a Bank draft (very similar to a Bank Check, just a different name) into that account,

It took about 60 days to clear my U.S. bank.

However it was only for about $30,000.

It cleared with no real problem.

That it took 60 days to clear didn't bother me as I had other funds to live on for that time, and I had a Non O one year multi entry visa keeping me in Thailand legally anyhow.

The check was for my retirement financial Thai bank account requirement, and it got me a retirement visa/extension in 2011,

it's 2013 now, and I'm still here in Thailand.

That's just the story of my experience as my answer to your question.

Hi IMA FARANG.

Thanks for your comments, from what I can find out it is only high value cheques that may be difficult to clear. I am hoping someone here may have personal experience with an oversea bank cheque over half a million USD value. The cheque in question has been deposited so I guess we will see in about 45 days.

Thanks again BW.

If fails, can always deposit it into account in Oz and then do internet transfer. It will only cost $20

[bigwilly]

Yes, but for a much smaller sum.

I arrived in Thailand in 2010 with a one year Non o visa,

I opened a bank account with that visa and deposited a Bank draft (very similar to a Bank Check, just a different name) into that account,

It took about 60 days to clear my U.S. bank.

However it was only for about $30,000.

It cleared with no real problem.

That it took 60 days to clear didn't bother me as I had other funds to live on for that time, and I had a Non O one year multi entry visa keeping me in Thailand legally anyhow.

The check was for my retirement financial Thai bank account requirement, and it got me a retirement visa/extension in 2011,

it's 2013 now, and I'm still here in Thailand.

That's just the story of my experience as my answer to your question.

Hi IMA FARANG.

Thanks for your comments, from what I can find out it is only high value cheques that may be difficult to clear. I am hoping someone here may have personal experience with an oversea bank cheque over half a million USD value. The cheque in question has been deposited so I guess we will see in about 45 days.

Thanks again BW.

If fails, can always deposit it into account in Oz and then do internet transfer. It will only cost $20

Hmm, not quite that simple as the Payee has no Bank account in Oz and is non resident , thus almost impossible to open an account from Thailand.

Regards BW.

[lemoncake]

Yes, but for a much smaller sum.

I arrived in Thailand in 2010 with a one year Non o visa,

I opened a bank account with that visa and deposited a Bank draft (very similar to a Bank Check, just a different name) into that account,

It took about 60 days to clear my U.S. bank.

However it was only for about $30,000.

It cleared with no real problem.

That it took 60 days to clear didn't bother me as I had other funds to live on for that time, and I had a Non O one year multi entry visa keeping me in Thailand legally anyhow.

The check was for my retirement financial Thai bank account requirement, and it got me a retirement visa/extension in 2011,

it's 2013 now, and I'm still here in Thailand.

That's just the story of my experience as my answer to your question.

Hi IMA FARANG.

Thanks for your comments, from what I can find out it is only high value cheques that may be difficult to clear. I am hoping someone here may have personal experience with an oversea bank cheque over half a million USD value. The cheque in question has been deposited so I guess we will see in about 45 days.

Thanks again BW.

If fails, can always deposit it into account in Oz and then do internet transfer. It will only cost $20

Hmm, not quite that simple as the Payee has no Bank account in Oz and is non resident , thus almost impossible to open an account from Thailand.

Regards BW.

Sorry confused. The money is from Oz superfund, but Payee does not have bank account? and how can he be non resident?

[bigwilly]

Hi Lemoncake.

You probably missed the fact in my OP the money is from a Superfund death and Super payout, the husband, of course was an Aussie, Thai wife is here in Thailand with no banking in Australia, she is the beneficiary, it isn't that simple to go to Australia and open an account without jumping through all the hoops.

BW

[lemoncake]

Hi Lemoncake.

You probably missed the fact in my OP the money is from a Superfund death and Super payout, the husband, of course was an Aussie, Thai wife is here in Thailand with no banking in Australia, she is the beneficiary, it isn't that simple to go to Australia and open an account without jumping through all the hoops.

BW

Ohhh ok, got you

[chainarong]

Bigwilly, I don't know, but is this a ordinary WestPac cheque or international WestPac check.Ordinary bank cheques I don;t think will be excepted.

[bigwilly]

chianarong.

It seems to be an ordinary Westpac Bank Cheque. The TMB Bank believe it will clear ok after 45 days, guess we will have to wait and see.

Thanks for your input.

Regards BW.

[chainarong]

chainarong.

It seems to be an ordinary Westpac Bank Cheque. The TMB Bank believe it will clear ok after 45 days, guess we will have to wait and see.

Thanks for your input.

Regards BW.

Yeah okay, I know International cheque's used to take 30 days, but I haven't used these for donkey's years , good luck

[Pib]

chainarong.

It seems to be an ordinary Westpac Bank Cheque. The TMB Bank believe it will clear ok after 45 days, guess we will have to wait and see.

Thanks for your input.

Regards BW.

Yeah okay, I know International cheque's used to take 30 days, but I haven't used these for donkey's years , good luck

From ThaiVisa posts I've read it seems international checks usually clear in 3-4 weeks but Thai banks will quote 45 days since maybe in some cases it does take that long.

[bigwilly]

chainarong.

It seems to be an ordinary Westpac Bank Cheque. The TMB Bank believe it will clear ok after 45 days, guess we will have to wait and see.

Thanks for your input.

Regards BW.

Yeah okay, I know International cheque's used to take 30 days, but I haven't used these for donkey's years , good luck

From ThaiVisa posts I've read it seems international checks usually clear in 3-4 weeks but Thai banks will quote 45 days since maybe in some cases it does take that long.

Pib.

Thanks for your input.

Regards BW

[bigwilly]

For any interested parties, cheque cleared today 28 days after deposit.

BW.