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Banker's Draft, Delay Receiving Money.

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After selling a Condo recently I asked a BKK Bank employee which would be the best way to take the money out of Thailand (internet transfer wasn't an option) and she assured me a banker's draft (if no more than 1,500,000 baht) would be the easiest way and would only take 3-4 days for the money to arrive once it was deposited in a bank in Europe.

So they did a banker's draft, left the remainder in my account and I deposited the cheque into a German bank account on 24/04, they then requested the money from BKK Bank on 26/04 but it still hasn't been sent! I emailed the general info address on their website to ask why they haven't sent it yet but no reply, anyone have an email address which I'm more likely to get a reply from or it actioned quicker, no need at all for it to take so long!

Thanks

Years ago I remember a Bankers Draft was treated like cash,no clearing time.

But I suppose now the banks don't even trust each other,and will wait for it to

clear like a normal cheque, these banks have a lot to answer for,trust,service,

and been helpful, all things of the past.

regards Worgeordie

  • Author

Made further enquiries today and it was sent on April 29 but they said international banker's drafts can take up to 3wks now!

The bank draft has to be issued payable in the country of the receiving bank. In your case BKK bank has to issue the cheque in Euro and payable in Germany. Otherwise it will take a long time for collection. I guess this might be the problem.

  • Author

The bank draft has to be issued payable in the country of the receiving bank. In your case BKK bank has to issue the cheque in Euro and payable in Germany. Otherwise it will take a long time for collection. I guess this might be the problem.

It was a Euro cheque with a local citibank as the clearing bank which is why I don't understand the delay.

"they then requested the money from BKK Bank on 26/04 but it still hasn't been sent"

This does not seem to be a bank draft. If a bank issues a bank draft the money is normally immediately payable by the bank (the one shown as payable bank) abroad. If the bank draft was payable by Citibank in Germany

than Citibank Germany will pay, not Bangkok Bank in Thailand. At least this is my understanding.

The collection process within Germany might however take a few days between your bank and Citibank in Germany.

Did a little googling on "a bank draft" just to make myself a little smarter and it seems while surety of payment is higher with a bank draft compared to a regular check, the clearing period can be about the same. For example, a cut and paste from one web site regarding a bank draft.

What is the difference between a cheque and a bank draft?
A bank draft is similar to a cheque, with the primary difference being that it is drawn on a bank rather than a customer account. Because of this, bank drafts have a certainty of fate in that they will not be returned unpaid unless they have been counterfeited, fraudulently altered or stolen. It is for this reason that it can be a preferred method of payment instead of a cheque. However, it should be noted that the value clearing cycle for a bank draft is usually the same as that for a cheque. Of course, an electronic credit transfer is generally quicker and more cost-efficient to process than a bank draft.


A bank draft is used for international transactions. If you use a normal cheque in another country the receiving bank has to send it to the country of origin to collect the payment. A bank draft can be issued payable in another country at a correspondence bank and this makes it easier and faster for the receiving bank to receive the money because for the receiving bank it will be a local transaction. The draft has not to be sent back to the issuing country for collection.

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