Will Bangkok Bank Accept an Inbound Draft in US $

[allane]

I am in the process of transferring funds for renewal of my retirement visa. I use the "B 800,000, money in the bank" method. I am having a bit of trouble persuading my new, home-country bank to transfer funds via SWIFT. While I am still working on that, they did mention the possibility of sending me a Bank Draft in US $.

The Bangkok Bank's website does not have a "Contact Us" button, or I would certainly use it. My account with them is in Bangkok, and I live 500 km from there. I realize that I could walk in to a local branch here and ask the question, but they might say anything or nothing, hoping that they could get me to go away.

1. Does anyone here have recent experience with this ?

If yes, what kind of charges did you incur, both on the exchange rate, and for inbound fees ?

2. I don't have a US dollar acct. with them, would they take the incoming transfer, convert it to baht, and deposit it into my regular savings acct. if the incoming instructions asked them to do that. If I have to travel to Bkk. to open a US dollar acct. I need to do this soon, given the geography.

3. Do I have to ask my home-country bank to include any "magic words" on the paper to ensure smooth processing ? If yes, what are they ?

4. Anything else pertinent ?

I live in Roi-et city, and would especially value replies from anyone who has done this here. Also, does anyone have an E-mail address for a relevant person at the Bangkok Bank. Send me that by Private Mail if you do, please.

[lopburi3]

I would suggest you call them to confirm, but yes they would convert to baht - I do know that not all branch banks will accept foreign checks and when they do it is subject to about 3-4 week processing if over $500 (they offer on-line service for some low value check cashing now).

Phone 0-2645-5555 or four digit 1333

For email contact you could try this link

http://www.bangkokbank.com/BangkokBank/PersonalBanking/WaysYouCanBank/BranchServices/BankBranches/Pages/ContactUs.aspx

[IMA_FARANG]

I retired in October 2010. To enter Thailand i recieved a one year Non O multi-entry visa to Thailand.

I used that visa to enter Thailand in November 2010, intending to eventually retire in Thailand

To open my Thai bank account in a Thai bank for my Thai retirement visa. I opened and deposited in my acccout a U.S. Dollar Bank Cashiers Check for the sum of $30,000 dollars drawn on my U.S. Bank account.

To clear that U.S. Bank Cashiers check took about 3 months before it showed up in my Thai bank account ..... well before the year my Thai visa that allowed me to stay in Thailand expired.

I don't remember the exact fee i was chrged to clear that $30,000 U.S. dollar into my Thai bank account, but to my best recollection it was about 2000 Thai Baht .... well less than $100 dollars for the entire process.

As I said, it took about 3 months for the money to clear my U.S. bank and appear as a deposit in my Thai bank.

I used thse funds for the financial requirement to apply for my Thai retirement visa/extension in October 2011.

I physically carried that paper Cashiers Draft into Thailand in November 2010 .... no problems then, and no questions asked.

I realize that U.S laws may have changed since 2011, but thta's what i did in 2010 with no problems ..... except waiting for about 3 months for the funds to clear from my U.S. bank to my Thai bank account.

It worked for me.

[allane]

Thanks to the two who have replied. I will see if I can contact the bank via the link suggested. If the funds can't be credited to my savings acct. within a day or two, I won't be able to use this to get the funds here in time.

[lopburi3]

Suspect Swift transfer or Western Union type is about your only chance of getting credit in a day or two. But all is not lost having to get a new entry and then starting yearly extensions again if you have no choice.

[usnftcret]

Since you already have an account at Bangkok Bank, why don't you do an ACH online money transfer to the New York branch? This would be the easiest way to transfer money to a Bangkok Bank acct.

[allane]

What is "ACH" ? Since I am not American, I think that doing a transfer via NY would cost me more money by having to exchange currency twice.

[lopburi3]

ACH is the normal transfer bank to bank in USA (using bank routing numbers). But it would not get the money here in time as takes at least two days to complete (workdays). It is cheaper than any other for most people as often there is no charge for a bank transfer of funds at home bank (or it is very low) - the charge at Bangkok Bank NY is a sliding scale of $5 or less for up to 2k USD and $10 for most above that in normal transfer amounts. When gets to Thailand a normal fee of .25% in range 200-500 baht is the final charge. So total cost of most transfers will be in the $20 range and you obtain full TT exchange rate.

As you are not American suspect your account is not in USA so this would not be an option in any case - although a similar system is available in UK I believe.