Bank 'clearing' Time

[LadyinRed]

I'm waiting for a payment to come through today, but I am not sure about the time.

For my case it's an inward remittance but is the 'next day bank clearing time' the same for cheque clearing as well?

These are the answers I get from various sources about 'the next day bank clearing time you will get your money':

- The moment bank opens

- After 10am

- After 11am

- After 12pm

- After bank closes

Can someone enlighten?

One more question: is the clearing time same for all banks?

Edited August 11, 2006 by LadyinRed

[Chang_paarp]

It is a bank.

All those answers are correct, as well as any time in the next few days. Don't hold your breath.

If it is a forieign cheque it can be up to 6 weeks.

[LadyinRed]

What about local cheques? The clearing time varies too between same/ different banks? It's hard to keep track!

[steveromagnino]

What about local cheques? The clearing time varies too between same/ different banks? It's hard to keep track!

For BAY....

usually if you get the check same bank to same bank before 3pm, then it get processed over night and is cleared funds by aruond 2pm the next day.

If it is one Thai bank to another Thai bank, and you get the check to them before 3pm, then it gets processed for one day, so it will be two days later again around 2pm. e.g. deposit lunchtime Monday, cleared funds on Wed at about 2pm.

If it is a foreign check, can take up to 6 weeks.

For each other bank it may vary. I used to be a wan,er, banker in NZ and each bank there used to be marginally different too.

[LadyinRed]

Any ideas on (inward) remittance clearance? Same time as cheques for the bank concerned?

I've 3 remittances so far and it varies from within 24 hours (next bank day in the morning) till 3 days later!

[visarunner]

Based on own experience from a German Bank to BKK Bank , with all correct details provided such as full name, swift , A/C number and send before 13.00 the money is normally in your A/C on the next day around 10-11.00am .

For the cheque clearing times the info indicated is correct .

[thohts]

Note that an actual person at the receiving bank must look at all incoming wire transfers.

So, if it's the day after a holiday or weekend then it will take longer.

Usually with SCB if they receive the wire in the morning, someone at the bank has already credited it to my account by noon.

SCB is the best with wires (and exchange rates) I think. Incoming never takes more than 24 hours for me. (Just transfer mid-week)