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

[mankondang]

Checks are worthless in Thailand. There are no protections for anything in Thai banks, money talks bull scat walks. Bought and sold many cars houses bikes here, always cash. Btw, 3 million will just fit under my bike seat.

Careful where you leave your bike.

[SpokaneAl]

How to sell or buy a car in Thailand ....

Step one .... Pay money.

Step two .... Transfer ownership.

Try taking a cashiers payment to a car dealer. You will sit and wait while staff take it to a bank and clear it before anything else happens. Your purchaser should expect you to do the same. At the moment the funds are cleared give him a receipt for the money as payment for the car, keys and blue book. Agree to meet at the transport office.

I would not accept a bankers payment on face value, here or anywhere, it's far too easy to forge these days. I strongly suspect your purchaser will be a "no show" once he knows you intend to clear the payment first.

Just last month we bought a new car from a Thai dealer via a cashiers check. As I mentioned previously, the sales guy made a quick call to the bank and we were on our way. It was easy, simple and quick.

[lovelomsak]

When I bought my last car the dealership gave me their account number it was at same bank as mine.They told me deposit the money there come pick up the car.with deposit slip. I opted to get cash and bring it to the dealership. But could tell the buyer to do the same deposit the money in your account and when he meets you he gets the car.

[canthai55]

Checks are worthless in Thailand. There are no protections for anything in Thai banks, money talks bull scat walks. Bought and sold many cars houses bikes here, always cash. Btw, 3 million will just fit under my bike seat.

In my previous life I found that one million dollars in 100 dollar bills just fit into a standard briefcase. Wonder how much would fit under the seat on a PCX ?

[HHTel]

Lived here for 14 years or so and used Cashier's Cheques (sometimes known as Banker's Draft) both ways and never had a problem. The only hiccup was presenting it to a Thai for the purchase of a block of land. He, like most Thais, preferred folding money. We took him to the bank where he was sat down and explained as if he were a child. 'A banker's draft is better than money. Only you can cash it and if it's lost or stolen, it can be replaced unlike money if it's robbed or lost'.

Large amounts of cash are far safer with a Banker's Draft. Believe me.

[spoonzor]

Yeah you are right, i had asked the bank to up the limit for me.

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.

Incorrect - Online Banking only lets you transfer limited amount online in Thailand...

My OLB (SCB) will not let me transfer large sums to a 3rd Party (Limited to 100,000 baht per day I believe).

I'm also limited to 500,000 baht between my own accounts and 300,000 baht to the SCB account of a 3rd Party.

These are the maximum limits - thus, Online Transfers are pretty much useless when transferring 2 or 3 million baht.

The Best / Safest Option is to have the buyer meet you in your bank with the cash - However, that places them at risk too.

Hence - The norm would be to receive the details of the Cashiers Cheque - call the bank and check the validity. Go to the Bank and deposit the Cashiers Cheque, then go onto the DLT and sign the car over (there will also be some transfer tax to pay at the DLT).

[spoonzor]

I know how much the limit is on my Kasikorn account.
But I admit i now remember upping that limit some time ago. Forgot about that.

For "online banking being scammed", nah, not like that.

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.

1. more easy be scammed from online banking.
I evry month get massege from bank care about security online banking. So its mean have problem. And its nean some one can trasfer money from scammed account. After even few hour its amount can be hold if owner scamed account call bank and police.
Even you can be arested. So risk with online transaction highest .
2. Have some limit any bank from this is limit amount cant be hold on. So you even do not see in you account money.
Different country and bank different limit. Do you know how much is in Thailand?

[JAS21]

Let us know on Monday how things turned out .... options

1 ... still have the car

2 ... no car but have money

3 ... no car and no money

[ardokano]

I know how much the limit is on my Kasikorn account.

But I admit i now remember upping that limit some time ago. Forgot about that.

For "online banking being scammed", nah, not like that.

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.

1. more easy be scammed from online banking.

I evry month get massege from bank care about security online banking. So its mean have problem. And its nean some one can trasfer money from scammed account. After even few hour its amount can be hold if owner scamed account call bank and police.

Even you can be arested. So risk with online transaction highest .

2. Have some limit any bank from this is limit amount cant be hold on. So you even do not see in you account money.

Different country and bank different limit. Do you know how much is in Thailand?

so how much Kasikorn be limit to verify the transaction?

I mean for securety reason and londry money protection or another thinks..

in HK its 140-200k US.

In Latvia its 10k Euro if from Russian transaction..

in many another country 20-500k under cheking ..

so Tell us how much its not worry transaction in Thailand .. I mean not worry hold..

and if Hold its how long time you know about .. for example in some Latvian Bank its even no limit time.. until owner account call and ask about trasaction..

in HK can call next day and say about you have some hold transaction..

In German cal after few hour..

How is in Thailand?

Edited February 4, 2016 by ardokano

[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.

Yes but then you have his money and he has no car. That's why it's mainly done at the land office.

I agree with you. The seller holds the trump card. That's the way it should be.

I have done this many times in TH. I meet the buyer at the bank, who transfers the money to me. We then both go to the Land Transport Department in what is now his car and transfer.

Very simple, very fast.

I have the money, he has the car. It is in his interest to go to the LTD with me to complete the transfer.

I don't see the need to take any risks with cheques in TH or elsewhere for that matter.

Cheques can and do go wrong sometimes. Banks are not your friend.

[ardokano]

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.

Yes but then you have his money and he has no car. That's why it's mainly done at the land office.

I agree with you. The seller holds the trump card. That's the way it should be.

I have done this many times in TH. I meet the buyer at the bank, who transfers the money to me. We then both go to the Land Transport Department in what is now his car and transfer.

Very simple, very fast.

I have the money, he has the car. It is in his interest to go to the LTD with me to complete the transfer.

I don't see the need to take any risks with cheques in TH or elsewhere for that matter.

Cheques can and do go wrong sometimes. Banks are not your friend.

All can wrong some times..

Check it more easy trust way for both.

[fredob43]

I have never read so much drivel in all my life.

A bankers draft/cheque is as safe as houses. Have obtained two new cars and a house all with bankers cheques.

There is only one small problem if it's out of province they will want a certain form of draft/Cheque a standard one will not do. Your bank will enlighten you about same. Check with them prior if your not sure.

Then as some others have said take Draft to your bank pay in and do the transport bit after.

[HHTel]

I have never read so much drivel in all my life.

A bankers draft/cheque is as safe as houses. Have obtained two new cars and a house all with bankers cheques.

There is only one small problem if it's out of province they will want a certain form of draft/Cheque a standard one will not do. Your bank will enlighten you about same. Check with them prior if your not sure.

Then as some others have said take Draft to your bank pay in and do the transport bit after.

At last. Someone with a brain!

[jacko45k]

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.

You have not put limits on such transfers.?.... I have.

Certainly lower than the cost of a car. I have not yet needed to but I suppose those limits can be raised temporarily, but there is also a limit on how large a transfer can be to a 'New' Payee.

[mortenaa]

No. Cashiers checks are forged/counterfeited all the time. This is a common scam. Go to

the issuing bank or branch and have him/her not you cash the check and you take the cash.

If you deposit the cash into your account the check will clear in 3-5 days. If the money is

not in the account you are responsible not the bank.

BTW This could be legitimate but why take the chance.

This is wrong information. The check clears right away as long as its the same bank - as it is.

And the Bank would know if its forged. He's a young guy btw, he would never dare forging a check.

[mortenaa]

I strongly suspect your purchaser will be a "no show" once he knows you intend to clear the payment first.

So you really think he has come to BKK twice from Chonburi to buy a car, to rip me off? Interesting.

[mortenaa]

So here it is!

So every time I bought a car before, I also used cashiers check. You have to buy it, so whether its cash ur using or withdraw from an account, that money is gone. And your left with a check instead. So as long as the check is real, I don't think there is any way to cancel it.

[balo]

Just check the identity of the buyer , If he is a young guy from a very rich hi-so influential family , he is not there to scam you . If a Thai pays 3.2 mill baht for a car you really need to belong to the richer families in Thailand.

And then confirm with the bank that the check is valid .

[mortenaa]

Just check the identity of the buyer , If he is a young guy from a very rich hi-so influential family , he is not there to scam you . If a Thai pays 3.2 mill baht for a car you really need to belong to the richer families in Thailand.

And then confirm with the bank that the check is valid .

I have all his details, address, phone and ID card. A young fella, genuinely interested in cars. I think he asked me a thousand questions regarding the car so far

[scorecard]

I strongly suspect your purchaser will be a "no show" once he knows you intend to clear the payment first.

So you really think he has come to BKK twice from Chonburi to buy a car, to rip me off? Interesting.

Nice thought but...

Keep in mind people buy, falsify payment in some way, give the seller false names and addresses, then resell the object ... This sort of stuff happens many times every day here in Thailand (and everywhere).

He's visited you twice, did you see his ID card? It could be fake, Thai people know it's very easy to get hold of fake ID cards on the spot and not expensive.

There are tricky no morals people everywhere, they know they are breaking laws etc., but they are game enough to do these things.

I mentioned earlier in this thread about my son selling his house. The loud abrupt in your face Thai woman (farang husband the same) before agreeing to buy wanted to live in the house for 30 days to 'test whether they liked it', and also wanted my son to leave the original chanut with them so they could get confirmation it was genuine. Son refused.

The buyer lady wanted to buy so she could rent. Six months after sale she rang my son to complain she couldn't get a tenant and insisted she had a right to demand compensation from my son and she was about to send the police to see my son.

I had bought the house many years earlier with the chanut in my son's name. I bought the house from an Indian family. All proceeded well until the settlement day then they claimed (in a phone call) that I was required by law to reduce the agreed purchase price to comply with local regulations.

Luckily I had arranged for my lawyer from Bangkok to be with me on the final day. He challenged all their tricks and told them point blank to either proceed in the correct way or he would call the chief of police in Pattaya who was his personal friend (which was true). They did stop the games and the chanut was transferred to my sons name.

The Indian seller had also agreed to meet at the house 45 minutes after the chanut transfer was completed so they could accompany my son to the 3 govt., utility offices so my son could transfer the bills to his name. They never appeared.

They had already moved everything out of the house. Son tried many times to call the several mobile numbers he had for the Indian family members, they didn't answer.

Ultimately my son had to get police reports (signed with comments by the police chief and with his personal phone no.) to take to the 3 utility offices so that he could get the name changed to his name without having to pay the outstanding bills the Indians left. (They were operating a travel agency out of the house focusing on trips to India, final tel. bills unpaid totalled over 3,000Baht).

Maybe 60 days after son changed the telephone bill to his own name the police came to the house accompanied by a man from TOT. Turns out the Indian family had over several years changed the name on the telephone bills some 15 times, none of the old large bills had ever been paid. TOT man explained to son this happens all the time.

Why did they visit my son? They were hoping that maybe my son found some old documents (any documents) that might provide a lead to search further for the Indian family.

About 60 days later two debt collectors came to the house. Why? The Indians had absconded leaving very large debts on numerous credit cards (all 4 adult members of the family had numerous cards). Same as TOT they visited to see if son had found any old documents which might provide a lead.

But of course the majority of Thais (people from any country) are honest and sincere.

Edited February 5, 2016 by scorecard

[MrJ]

to OP - just curious what kind of car hav you sold for 3.2 MTHB?

[fosseway]

Lived here for 14 years or so and used Cashier's Cheques (sometimes known as Banker's Draft) both ways and never had a problem. The only hiccup was presenting it to a Thai for the purchase of a block of land. He, like most Thais, preferred folding money. We took him to the bank where he was sat down and explained as if he were a child. 'A banker's draft is better than money. Only you can cash it and if it's lost or stolen, it can be replaced unlike money if it's robbed or lost'.

Large amounts of cash are far safer with a Banker's Draft. Believe me.

I agree with HHTel, I have been reading so much here about cashiers cheques, this is the first post about a bankers draft. I am quite sure that a cashiers cheque can be stopped, a bankers draft cannot.

[DILLIGAD]

Lived here for 14 years or so and used Cashier's Cheques (sometimes known as Banker's Draft) both ways and never had a problem. The only hiccup was presenting it to a Thai for the purchase of a block of land. He, like most Thais, preferred folding money. We took him to the bank where he was sat down and explained as if he were a child. 'A banker's draft is better than money. Only you can cash it and if it's lost or stolen, it can be replaced unlike money if it's robbed or lost'.

Large amounts of cash are far safer with a Banker's Draft. Believe me.

I agree with HHTel, I have been reading so much here about cashiers cheques, this is the first post about a bankers draft. I am quite sure that a cashiers cheque can be stopped, a bankers draft cannot.

Having worked in a bank for over a quarter of a century (not in LOS), I'd NOT be quite sure of anything except cash in my hand especially here!!!!!

I have seen first hand what 'scullduggery' can be achieved in a Thai print shop. I will not expand on details here.

Edited February 5, 2016 by DILLIGAD

[JoeW]

I wouldn't even accept cash with all the fake money going around. Wire transfer only please

[ardokano]

I wouldn't even accept cash with all the fake money going around. Wire transfer only please

Wire transfer can be canceled(scamed some accounet) . even after can invistigate from police about " londry money"

So

cashier check its not bad thinks ,,,

[ardokano]

to OP - just curious what kind of car hav you sold for 3.2 MTHB?

I guess it be m1 BMW

OP many time talk about this is car and show .

And what I look OP care about car and love car, so it be in good condition... If I buy second hand I like buy car from same ovner

[scorecard]

I wouldn't even accept cash with all the fake money going around. Wire transfer only please

Wire transfer can be canceled(scamed some accounet) . even after can invistigate from police about " londry money"

So

cashier check its not bad thinks ,,,

'Wire transfer can be cancelled'. ?

[ardokano]

I wouldn't even accept cash with all the fake money going around. Wire transfer only please

Wire transfer can be canceled(scamed some accounet) . even after can invistigate from police about " londry money"

So

cashier check its not bad thinks ,,,

'Wire transfer can be cancelled'. ?

Sorry for my english..

canceled

yes can be canceled( hold)

If for example Your account be haked , and after send some where money.. you go police and bank

open case, if money still in account where send its can be hold.

If investigate from police get proof its money stolen so after transfer can be canceled and money back your account.

But owner occount where trasfered money can be under investigate and can charges of money laundering.

I know a few guys who came under investigation is the first arrested. only for the fact that the money received for the sale, with a hacked account.

Edited February 5, 2016 by ardokano

[Don Mega]

I wouldn't even accept cash with all the fake money going around. Wire transfer only please

Wire transfer can be canceled(scamed some accounet) . even after can invistigate from police about " londry money":whistling:

So

cashier check its not bad thinks ,,,

'Wire transfer can be cancelled'. ?

Sorry for my english..

canceled

yes can be canceled( hold)

If for example Your account be haked , and after send some where money.. you go police and bank

open case, if money still in account where send its can be hold.

If investigate from police get proof its money stolen so after transfer can be canceled and money back your account.

But owner occount where trasfered money can be under investigate and can charges of money laundering.

I know a few guys who came under investigation is the first arrested. only for the fact that the money received for the sale, with a hacked account.

This happened in Thailand ?

[Woodsie888]

So here it is!

So every time I bought a car before, I also used cashiers check. You have to buy it, so whether its cash ur using or withdraw from an account, that money is gone. And your left with a check instead. So as long as the check is real, I don't think there is any way to cancel it.

If that's the case Morten, and you know this to be the situation, your OP seems rather pointless.