bank Cashier's cheque queery - Any ideas ?

[properperson]

I'm in the process of buying a house here in Hua Hin.........

The people who own the house live in Bangkok................

My intention was to pay for the place by a cashier's cheque from my K Bank account in HH, when the chanoote was transferred - but the seller tells me that because the cheque will be drawn "out of region" - there will be huge charges for them to pay when they bank the cheque with their account in BKK with Bangkok Bank...

i'm flabbergasted - does anyone know what kind of cheque (bankers Draft) i can get from K Bank that will be accepted as guaranteed payment and not attract such high charges...

Any help greatly appreciated.

[scorecard]

I can't give you total answers but I can confirm that some cheques / cashiers cheques are based on clearing with the same region, and in some cases can be cleared in another region but with large fees (exactly what you said).

I have two examples:

- Two years ago I did work for a large consulting company, they are based in Bkk. They gave me a cashiers cheque drawn on their bank in Bkk . I took it to my bank in Bkk, but my account was located 800 kilometres away. My bank said they could accept it (at Bkk branch) but clearance would be 14 days, and 1,000Baht fee plus ??% commission.

- About three years ago a Thai friend sold a house in Pattaya, Thai buyer came from Roi Et. riend (seller) was aware of all the above and told the buyer they had to bring a cashiers cheque written at a Pattaya branch of the buyers branch.

Buyer turned up at Pattaya land office (early morning) with cashiers cheque and said 'it's local', but in fact all lies, it was drawn on bank branch in Hua Hin.

Seller insisted the land office folks stop the transfer.

Buyer was adamant that the seller (by law) had to accept the cheque drawn not on his home branch (in Roi Et, but at another branch in another region Hua Hin) and had to process the land transfer immediatelly, on the spot.

A heated argument ensured, the Officer In Charge at the land office intervened and told the buyer:

- Your totally wrong - the seller warned you to be careful about this, and the seller gave you correct advice.

- I will now not process the transfer of the chanut until you have paid and the seller tells me he is totally satisfied.

Then something else happened. A rep. from another bank was there doing some other business and he told the buyer 'bring the cashier's cheque to my bank and within about 3 to 4 hours we can reissue the cheque from our Pattaya branch. Fee 3,000Baht.

Buyer now insisted that seller pay the 3,000Baht.

Seller refused and quickly the Officer In Charge at the land office intervened again and told the buyer he cannot demand the seller pay this fee, then turned to the seller and said 'don't pay the fee'.

Buyer came back 3 or 4 hours later, meantime the Officer In Charge at the land office has told the seller to pay for a rep. from his own bank to come and inspect the cheque.

The rep did come and said the cheque intervened and said it was OK.

[meatboy]

the buyer should draw out the cash at his /her bank and make the seller come and get it.

then the seller finds an honest taxi driver to take him to his/her bank.

whats wrong with that.

[dean008]

Huge charges. its all relative, ask them how much. I bought a burger for 699 baht that is huge compared to a big mac. how huge is huge?

[delgarcon]

Seems simple to me, ask the vendors how they want the money!

[Robert24]

that's really not your problem, but the seller's problem. If their bank in Bangkok charge them a very high fee for depositing a cashier's cheque from KBANK in Hua Hin because it is out of province, they can open a new account in Hua Hin and deposit on this account and then later transfer the money to wherever they want it to be. At the end of the day, the property is in Hua Hin, the land office in hua hin, your bank is in hua hin, only the seller uses a bank somewhere else. Really their problem to sort out.

[N47HAN]

Your buying a house for xxxx million and the fee will be sub a few thousand baht , dont really see the problem.

Just give the seller the charge the bank want in cash ?

Or of course dont buy the house

Sent from my GT-N7100 using Thaivisa Connect Thailand mobile app

[ThaidDown]

From memory (a transaction we did long ago) think you need a Demand Draft maybe called Bankers draft as well) . This is drawn on the Head Office of your bank and money is deducted , together with fees, at time of issue. Cannot remember costs, could not have been high else I would have remembered...

Suggest ask at bank...'Demand Draft'