Depositing foreign cheque and currency

[gkroo]

As the title suggests can anyone confirm that I can deposit a foreign cheque in AUD$ into my BKK Bank account as long as the name on the cheque is identical to my account name, thanks for any feedback.

[MMarlow]

Yes, you can.

[rott]

It has been stated in several posts on TV that it is possible to deposit a foreign currency cheque, though it can take about 6 weeks to clear and cost upwards of US$50. Never tried it myself.

Why would you want to deposit foreign currency? Easy enough just to change it.

[gabruce]

I've done this (Canada to Thailand). Unfortunately for me it took about 3+ months to clear. Largish check ~11,000CAD. The banks bounced correspondence back and forth very slowly wanting to make sure I really did want to cash the check and that I really was me. Multiple trips to the bank to copy the passport.

My recommendation is keep the check small or allow a long time.

[SamuiRes]

Deposited a USD 5,000 cheque to my company account about three years ago. Was told it would take 45 days to clear and that was about right. Cannot now remember the rate I received or the charges.

[Maejo Man]

I pay my cheques into my account at Siam Commercial and they charge me 200 baht per cheque. Other banks may vary.

They ask me not to draw on them for 45 days

Edited April 30, 2014 by Maejo Man

[gkroo]

Maejo Man, how long to clear each cheque at SCB ??

[Maejo Man]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

Maejo Man, how long to clear each cheque at SCB ??

I just edited my post while you were posting

[gkroo]

Sorry !! I didnt see your 45 days !!! oops

[LawrenceN]

We do this several times a year, moving money from an account in the US with a personal check. US$10 charge at K-Bank each time. As others have said, we're told it takes 45 days to clear, but sometimes it's faster.

Last year, however, I got a tax refund from the US govt. Bangkok Bank took it, no charge and said the funds were available immediately because it was a check from the US Treasury. OP didn't say what kind of check, so if it's from a major government, maybe you're in luck.

[Kerryd]

Yet at Bangkok Bank I tried to deposit a Government of Canada cheque and was told it would take up to 45 days to clear and sure enough, it did.

Couple years later I was going to deposit another one, but by the time I got the cheque (tax refund) and got to the bank, it was 1 day over 6 months old and they wouldn't accept it. I even showed them the Gov't website where it said that Government issued cheques don't go "stale" and can be cashed any time, but their system wouldn't accept it.

Som nom na. It sat in a pile of paperwork and when I went back to Canada (almost 2 years later) I deposited it into my Canadian account with no problem.

[Estrada]

Yet at Bangkok Bank I tried to deposit a Government of Canada cheque and was told it would take up to 45 days to clear and sure enough, it did.

Couple years later I was going to deposit another one, but by the time I got the cheque (tax refund) and got to the bank, it was 1 day over 6 months old and they wouldn't accept it. I even showed them the Gov't website where it said that Government issued cheques don't go "stale" and can be cashed any time, but their system wouldn't accept it.

Som nom na. It sat in a pile of paperwork and when I went back to Canada (almost 2 years later) I deposited it into my Canadian account with no problem.

Strictly speaking it is valid for 6 months. They do not have to honour it after that and you would have to refer back to the Bank that issued it. That is the rule in the UK and most places. It actually doesn't take 45 days to clear but they like to hang on to your money and earn interest on it. When HSBC were doing retail banking it only took 19 days max. The system is that the Government cheque is sent to you by post and then the Bank sends your cheque all the way back to Canada for collection.

I get my Government Pension paid to the Bangkok Bank London Branch and the money is deposited straight into my Bangkok Bank Account in Bangkok. If there is a Bangkok Bank Branch in Canada you could set up the same arrangement. For another pension they use a system called Baht Net operated by Citibank and again I get the money straight away.

[Tywais]

Several times with Bangkok Bank and nearly exactly 3 weeks each time to clear and $10.00 USD charge. They always tell me up to 45 days, canned response.

[ozyjon]

I tried doing that once only to return to Sydney with cheque in hand, you can prove me wrong if you want, Scenario, overseas bank draugh in Australian dollars to deposit into my Bangkok Bank, NO was the answer, if the cheque was in Thai Baht then no problem,, lucky i had aussie dollars also, might have changed now but i don't carry cheques any more, i do an internet transfer of money to my BKK Bank account before i travel.

[akentryan]

They are all the same now. Forty days plus or minus a couple. UOB used to be 14 days plus or minus 2 but that changed as it now clears US checks through a German savings bank. Just got one cleared in 37 days - a new record. Cost is still OK at 500 baht a check

[TheFishman1]

I did it once the check was from the UK and the fee that it ended up costing me well I won't do it again that was at K bank

[bigbamboo]

So of it takes 45 days to clear do you get the exchange rate at the time it was deposited or at the time it cleared?

If the exchange rate was to get a shift on it could be quite a difference.

[Gandtee]

So of it takes 45 days to clear do you get the exchange rate at the time it was deposited or at the time it cleared?

If the exchange rate was to get a shift on it could be quite a difference.

I received a cheque from Barclay's Bank yesterday so this forum has just come at the right time for me. Answers regarding when the exchange rate is applied will be interesting.

[Gillyflower]

I have a very small Canadian pension. It is so small that I get it every six months. But in the beginning The Regie des Rentes in Quebec sent me a cheque. There was no problem depositing it in my account BUT the fees for doing so were so large. I didn't haven't anything left.. It wasn't worth it. Finally it is sent through the banks now.

[timber]

I write a check to myself for deposit in my local account a lot. The exchange rate is acceptable and as far as I know there is no or a minimal charge.

[ericthai]

It has been stated in several posts on TV that it is possible to deposit a foreign currency cheque, though it can take about 6 weeks to clear and cost upwards of US$50. Never tried it myself.

Why would you want to deposit foreign currency? Easy enough just to change it.

someone gave you wrong info. Never was $50, I have paid 200B, Max i have heard is 300B. Takes about 1 1/2 months to clear. I have done it a few times when I was in no hurry for funds. The fee was lower than doing an international transfer.

[jacko45k]

I did it some years ago, giving a UK (offshore) cheque to my Bangkok Bank Branch.

Someone suggested it as a cheaper option wrt charges.

It all worked okay, I think it took a few weeks (3) before the money landed.

They cleared the cheque via the Bangkok Bank in London, then they 'telexed' the money over to my Thailand account and charged me what any UK Bank would have done.

End result, it worked, took a lot longer than my normal transfers, and cost the same.

Why bother I thought....

Edited April 30, 2014 by jacko45k

[shaurene]

You can yes but they will not pay you until it has been cleared by the issuing bank in Aussie.

[JimHuaHin]

It has been stated in several posts on TV that it is possible to deposit a foreign currency cheque, though it can take about 6 weeks to clear and cost upwards of US$50. Never tried it myself.

I was told the same at KBank a few months ago.

[Strangebrew]

Thai version of Spring Break?