LTR Health Insurance : Self-insurance with US$100,000 Bank Deposit

[rocketmankabin1]

My buddy gets caught last Thursday on overstay. I am Dual Citizen with BKK Bank account in my Thai name. I pay bail money 20,000 cash. Police tell me to pick up a check about a week later. Check from Krungthai bank so I'm thinking it's there check, I better go cash it there. Nope cant' cash it if don't have an account with them. Need to deposit into my account first. Can't even cash it at BKK Bank. Really? What if I didn't have another account? I would have to go open one first. What if I was a foreign tourist helping a friend who got caught? I wouldn't be able to cash or open an account.

[SoiBiker]

Isn't that how cheques generally work?

[oncearugge]

Open cashable cheques are very rare.

[rocketmankabin1]

In my country, if it's a cashier's check, it's good anywhere.

[mahjongguy]

In my country, this is known as a counter check, a lesser item than a cashier's check, guaranteed only by the issuing account, not the issuing bank. It needs to be deposited and cleared.

[Pib]

OP,

Are you saying you went to "your bank" which is Bangkok Bank to cash the check and they would not cash it?

I know each year when I get my Thai tax return check which is issued by KrungThai bank I think that it has a banner/note on it in one corner which says for "Account Deposit Only" (or something very similar to those words) which means I can not go "cash it" at any bank, but I must "deposit it" in my account which can be any bank that you have an account at. And that's exactly what I do in that I deposit it in my Bangkok Bank account...usually by the end of the next day it has cleared and I can the withdraw that amount.

[manarak]

@OP:

totally true and very annoying !

in a country where transfers are done instantly, I can't understand why a cheque cannot be cashed anywhere, or at least compensated/settled between two banks, why not add 3 or 4 value days to rule out fraud...

this aspect of Thai banking is very backwards.

[Suradit69]

@OP:

totally true and very annoying !

in a country where transfers are done instantly, I can't understand why a cheque cannot be cashed anywhere, or at least compensated/settled between two banks, why not add 3 or 4 value days to rule out fraud...

this aspect of Thai banking is very backwards.

'this aspect of Thai banking is very backwards."

in many countries a check/cheque can be crossed and/or marked "for deposit only" or "deposit a/c payee only" or "not negotiable." It's hardly backward. It's considered a security factor.

[paz]

I call placing the inability to cash a check without having an account or paying a fee to a third party an unjust, discriminating practice, especially against foreigners.

[manarak]

@OP:

totally true and very annoying !

in a country where transfers are done instantly, I can't understand why a cheque cannot be cashed anywhere, or at least compensated/settled between two banks, why not add 3 or 4 value days to rule out fraud...

this aspect of Thai banking is very backwards.

'this aspect of Thai banking is very backwards."

in many countries a check/cheque can be crossed and/or marked "for deposit only" or "deposit a/c payee only" or "not negotiable." It's hardly backward. It's considered a security factor.

yeah, how about a mention "only payable to payee's account at the bank who emitted the cheque" ? is that considered a security factor "in many countries too" ? or is it an annoyance?

I too had to "donate" 500 baht to Krungthai because I was unfortunate enough to get a cheque from them, not counting the massive loss of time due to waiting for them to open an account. It's a PITA, period.

Edited October 30, 2015 by manarak

[paz]

My buddy gets caught last Thursday on overstay. I am Dual Citizen with BKK Bank account in my Thai name. I pay bail money 20,000 cash.

By the way, after bail you freind was let or deported? I in country, has the court day been made yet and what's the outcome ?

[rocketmankabin1]

I bailed him out Thursday night. He went to court very next day and paid 1000 fine. An Indian "friend" who was there the same day because his foreign Indian friend was also busted, and has some connections there, gave the BIB a few "smiles" to let my friend and his friend go. They were suppose to haul them off for deportation. Immigration police actually came back twice looking for them. My friend will be heading to Laos to renew visa tomorrow.