Sold my car - buyer brings cashier check.. 100% Safe?

[mortenaa]

Hi,

The new Thai owner is coming from Chonburi to Bangkok on Friday - with a Cashiers Check on a fairly big amount. We have agreed to meet at the Land and Transportation department.

Is there any chance at all that a Cashier Check would bounce or would cause any problem? He buys the check in Chonburi, and I am banking with Kasikorn Bank in BKK.

[ardokano]

If not fake.. any problem

its responsible for paying the amount from bank. so it mean hold ammount .

But i hear now have some anticoruption company so.... How it be .. can hold money and check... where from money

my friend sell house.. chek near 5 days. But his go out Thailand so take cash only after 3 weeks, and be angry.

Ps ammount be 7 m

Edited February 3, 2016 by ardokano

[JoeW]

If the cheque is stamped by the bank, the bank has checked his financials and guarantees it.

HOWEVER, if he just wrote his own cheque without a stamp from the bank then...I wouldn't trust it.

[NickJ]

I believe you can phone the bank and verify it.......or get the details of the check before you meet.

[Gsxrnz]

In a country where you see people at the Land office selling their homes/farms/condos holding bags or cases of the actual folding stuff, why would he want to go to the trouble and expense of getting a cashier's cheque just to buy a car of what value, half a mill??

I've done a bit of business in Thailand, and never yet seen a cheque, cashier's or otherwise.

Tell him to save himself the hassle and bring a brown bag. If he doesn't show up, you'll have your answer.

[JAS21]

When I sold my D-Max I asked the buyer to e-mail me a copy of the cashiers cheque ... then I took it to my bank and asked if it looked okay .... Getting it on a Friday could mean that you can't bank it until Monday and your car is long gone. You selling the blue one!

If he wants to deal ... tell him to buy the cheque on Thursday and e-mail or LINE a copy of it .... better safe than ....

[ardokano]

In a country where you see people at the Land office selling their homes/farms/condos holding bags or cases of the actual folding stuff, why would he want to go to the trouble and expense of getting a cashier's cheque just to buy a car of what value, half a mill??

I've done a bit of business in Thailand, and never yet seen a cheque, cashier's or otherwise.

Tell him to save himself the hassle and bring a brown bag. If he doesn't show up, you'll have your answer.

i guess his carlittle be more whan 500k i remember his had M bmw

In thailand many car its expensive and value more whan 2 ml even its second hand

But whatever..

in Thai low cost small cost of banknotes. so even 500k it not in wallet money. Cashier Check it more easy

Edited February 3, 2016 by ardokano

[Don Mega]

If the cheque is stamped by the bank, the bank has checked his financials and guarantees it.

HOWEVER, if he just wrote his own cheque without a stamp from the bank then...I wouldn't trust it.

How does one write their own "cashier check" ?

[MichaelSong]

I would arrange the meeting at the bank, arrange money business and sign documents there and then go to to the transport office - if necessary.

[Satcommlee]

I would arrange the meeting at the bank, arrange money business and sign documents there and then go to to the transport office - if necessary.

Not very practical as the exchange should be done at the DLT but maybe it would be a good idea to go together to a bank first to check authenticity, just claim "I'm a dumb farang"

[ardokano]

If the cheque is stamped by the bank, the bank has checked his financials and guarantees it.

HOWEVER, if he just wrote his own cheque without a stamp from the bank then...I wouldn't trust it.

How does one write their own "cashier check" ?

I guess its mean no fake..

Ofcouse "cashier check" get from bank as guaranty in account have money and its hold. So it mean check its responsible for paying the amount from bank not responsible owner account..

[Farma]

We had a small problem with a cashiers cheque during a property purchase a couple of years ago.

GSB wouldn't accept a cashiers cheque issued by KTB despite the KTB manager talking to the GSB manager.

In the end on KTB managers advice we and the seller went to KTB, exchanged the cashiers cheque for cash then gave the cash to the seller.

[Woodsie888]

Forget the cashier's cheque Morten.

I'm assuming you have accounts at a number of different banks like quite a few expats.

You both go to the bank together and he transfers the money directly to your account. Both of you then go to the Land Transport Department together and transfer the car to him. Job done, simple.

[richard_smith237]

I had a minor issue a couple of years ago with a Cashiers Cheque....

A gentleman travelled from out of Bangkok with a Cashiers Check for the value of my car (minus deposit which he'd transferred previously).

We agreed to meet nearby and travel to the Bank to confirm authenticity of the Cashiers Check.

My Bank 'wouldn't' confirm - His Bank 'couldn't' as the check was from a branch outside of the province !... (yes, its already getting silly).

In the end we had withdraw the some of money on his Cashier check and then travel to my Bank and pay in the money. We then travelled straight to the DLT and transferred our car.

It was a little trying, banks didn't make it easy either - what should have taken an hour took a handful of hours...

I'd done this before without issue..

Thus: Cashiers Checks are the norm, but as the seller double check the cheque before making the transfer at the DLT and better still, pay the cheque directly into your account before going to the DLT.

[momtaz]

I would recommend you to verify with your KBank,

Ask this guy to send you a copy of this check, and verify with your Bank,

the banks knows better about this and they will tell you exactly the condition and statement of instant liquidity available or postponed etc ,,,

[kartman]

Forget the cashier's cheque Morten.

I'm assuming you have accounts at a number of different banks like quite a few expats.

You both go to the bank together and he transfers the money directly to your account. Both of you then go to the Land Transport Department together and transfer the car to him. Job done, simple.

Best advice if the buyer says no the reply is i don't trust you either.

[JoeW]

If the cheque is stamped by the bank, the bank has checked his financials and guarantees it.

HOWEVER, if he just wrote his own cheque without a stamp from the bank then...I wouldn't trust it.

How does one write their own "cashier check" ?

Anything is possible in Thailand.

[stevenl]

Tell him to cash the check himself and hand you the cash.

[pieeyed]

A cashiers check from the bank costs all of 20 baht. It just needs to be made out the person that will need to cash it.

[paddyjoe41]

DO NOT TAKE IT,under no circumstance,its so easy to get these stamped today,ESPECIALLY IN THAILAND.CASH ONLY.its simple if it is no problem to get the check,why not have him transfer it to your bank,you can go with him and then use the same machine to check if its gone in to your account.Taking a check.is a receipe for a SCAM.MY OPINION ONLY.

[khunano]

Probably anything can be faked in Thailand though I have never had any bad experience with cashier or manager cheques as they are called sometimes. When buying them at the bank counter the money is deducted from the account of the person who has it issued. Hence cashier cheques cannot bounce. In any case it is probably a good idea to have the cheque emailed to you once it has been issued so you can verify its authenticity with your bank.

[wanna3030]

PLEASE only cash ..... let the buyer go to the bank and take the money from him ..... then u safe

[realenglish1]

Checks can bounce Cash does not contain any rubber

[bark]

If not fake.. any problem

its responsible for paying the amount from bank. so it mean hold ammount .

But i hear now have some anticoruption company so.... How it be .. can hold money and check... where from money

my friend sell house.. chek near 5 days. But his go out Thailand so take cash only after 3 weeks, and be angry.

Ps ammount be 7 m

What ?

[spoonzor]

Today we have mobile/online banking, we can transfer with a push of a button on the phone, and it will be in the others account in just minutes even inter-bank.

you are very likely being scammed! And even if not, it will only make things more complicated like this. Please be careful.

Edited February 4, 2016 by spoonzor

[Canuk23]

If cashier check is from same bank no problem they can clear it right away, but if from different Bank

it can take up to 3 days to know if the funds are there.

[Henryford]

Checks can bounce Cash does not contain any rubber

Yes but would you want to walk around with 1-2 million in cash on you. I would be very nervous. Cheques can't be stolen cash can.

[vogie]

Do not release any goods till the cheque clears, even a bankers draft, there has been many times where bankers drafts/cheques have been stolen.

[sahteep]

Having been here for quite some time, I really think there is nothing like cash if online-banking transfer is not an option.

- why not take the buyer to his bank where he withdraws cash, then go to the transportation office where all docs are signed and transfer of car is accepted; cash is handed over and you take it to your bank and deposit it....?

(Allright, technically there is a small chance of being mugged on the way.... if a lot of money, bring one or two friends along )

Best of luck.

[bazza40]

Best option is to go to the bank with the buyer and cashier's cheque to verify if it is genuine. I can understand some people could be nervous carting around large amounts of cash.

If he baulks at going to the bank, I'd say you have your answer as to whether it is kosher.