Foreign cheque into Thai bank account

[c1samd]

could you write yourself one out for 3.000 pounds?

This is an excellent question.

Will the Thai banks change a personal check from abroad?

Could save me a lot on ATM fees.

Anyone ever do it?

If you want to send money over, the best website to use is www.transferwise.com

Their rates are always the best going, although you will get hit for a 1.5% charge which evens it out a little, but will still be an excellent rate

I have sent thousands with this service, is extremely reliable and always clears 4-5 business days after sending from home account (which is the UK for me)

Better still if you use this link https://transferwise.com/u/68998f your first transfer is free as long as you send between £200 and £2000

[wpcoe]

Banksters are just that way.

"Banksters"

I love that term.

[CcCowboys]

I deposited personal checks in the past and bank always said it would take up to 45 days before it appeared in my account. In my case it always took 30-45 days to appear in my account. I stopped because the checks cleared my US account within 7 days but took another 3-4 weeks to show up in my Thai bank account.

The most interesting question here is: In who's account did the money sit after it cleared your US Account.

We all know that a digital transfer take a day.... so basically the thai bank is "sitting" on the money for a month.... sounds amazing...

But

TIT

[Guest]

One possible alternative: if you still have a UK bank account, many banks have mobile check deposit where you take a photo of the check with your phone and it gets deposited in your account. Then you can withdraw though the ATM or do a wire transfer, etc.

If that works ... very clever.

[SOTIRIOS]

...why not ask your bank.....

[Jonmarleesco]

I can only tell you that I used to pay one into KKB every six months, modest fee and it cleared immediately - which always amazed me. Then, on one occasion, they suddenly announced it would take two months to clear and they wanted to charge me in USD, to pay a GBP cheque into a THB account; unsurprisingly, no one could explain that one. My wife sorted it out there and then, but I subsequently changed the payment method.

You'll need to check with your bank but you might end up rethinking it. And if it's a business account and a modest cheque amount, the fees will probably make it unfeasible.

[Jonmarleesco]

I have received a cheque to my Thai address from the UK Inland Revenue worth about GBP11 (B500). Non-negotiable, so effectively, given costs of depositing to my bank, not worth the bother. Am I right?

Right. But if you still hold a U.K. account, post it to that bank for deposit into your account.

[wooloomooloo]

If you want to send money over, the best website to use is www.transferwise.com

Their rates are always the best going, although you will get hit for a 1.5% charge which evens it out a little, but will still be an excellent rate

Good post and I'm always shopping around for a better rate and charge for the transfer. If I'm honest, 1.5% is a little high for my sensibilities.

The main point is is that you're happy with the rate and fee in addition to the reliability of the transaction.

My advice is always to keep shopping around as there's always a more competitive deal on offer in this internet age. It changes every day.

[Thaidream]

Most Banks have check by mail service- meaning you endorse it in Thailand with the statement for 'Deposit Only Into Account XXXX' I have done this many times- If a large check I use Express Mail- time to US is 3-5 days and normally posted the same day they receive it. If a smaller amount I use Registered mail- takes about 10 days to US. However, this beats waiting 45 days in Thailand for it to clear. Once in your US bank or other country you can take out by ATM or have it wired.

[nongsangcity]

Bangkok bank either 10 US or 600 bht thai.....takes at least a month in my experiance......as they send your cheque in my case back to the UK so it can clear...

[gandalf12]

I was going to pay in a cheque I received from the Canadian tax authorities into my Bangkok Bank account. I didn't as they said it would three weeks and cost me Baht 5000

[Thaidream]

In this age of technology any banks that charge more than $10-$20 are thieves- or as the poster stated Banksters- try the check by mail system with your home bank or you can sign it over to a trusted family member/friend who can then deposit it to their account and reroute to your overseas account. Even if a bank in Thailand sent the check via regular mail to clear in the USA or Canada- 5000 Baht is absurd. Express mail costs approx 1600 Baht and I find that to be expensive. Don't let the bastards win.

[ableguy]

Most Thai bank accept foreign cheques with a fee of around Bt300 and it usually takes 3 to 6 weeks before the cheque will be cleared and funds made available in the person's account.

I put my USA govt tax rebate in Bangkok Bank cleared in two days.

[Pib]

Most Thai bank accept foreign cheques with a fee of around Bt300 and it usually takes 3 to 6 weeks before the cheque will be cleared and funds made available in the person's account.

I put my USA govt tax rebate in Bangkok Bank cleared in two days.

Good to hear, but that's not a personal check. But a foreign govt check is still a foreign check I will admit. Expect the Thai banks know the chances of a govt check bouncing is very low assuming it's not a forged check. But for a personal check that's a different story since it can bounce simply because of not enough money in the person's account and other reasons.

Edited June 1, 2016 by Pib

[ozyjon]

I brought a cheque into Thailand some years ago, my

bank is BBK, in my name in Australian dollars, they

would not accept it, must be in Thai baht,, best to

check that first, cash has the highest exchange rate.

[johnatong]

I brought a cheque into Thailand some years ago, my

bank is BBK, in my name in Australian dollars, they

would not accept it, must be in Thai baht,, best to

check that first, cash has the highest exchange rate.

Rubbish !

Are you really trying to say that Thai Banks will reject ANY cheque not denominated in Thai Baht ?

Why have I been able to pay cheques denominated in £ into Thai banks ?

[fishbrando]

One possible alternative: if you still have a UK bank account, many banks have mobile check deposit where you take a photo of the check with your phone and it gets deposited in your account. Then you can withdraw though the ATM or do a wire transfer, etc.

If that works ... very clever.

I've done it a few times.

Check was sent to my mail service which scanned it for me.

I printed it out and took a photo with the bank's mobile app.

The money was deposited into my account a few days later.

[Seraphina]

In my experience, all banks have an 'express clearance' facility. You have to ask for it. They don't promote it because the longer they have your money - up to six weeks, the more money they make out of you. Express clearance usually clears a cheque within 24 hours max 48. Obviously you pay more for it, but it may be worth it just for peace of mind.

[Guest]

One possible alternative: if you still have a UK bank account, many banks have mobile check deposit where you take a photo of the check with your phone and it gets deposited in your account. Then you can withdraw though the ATM or do a wire transfer, etc.

If that works ... very clever.

I've done it a few times.

Check was sent to my mail service which scanned it for me.

I printed it out and took a photo with the bank's mobile app.

The money was deposited into my account a few days later.

Brilliant. I have not touched a paper check in 20 years .. but recently learned what a pain in the arse it is in BKK to try and cash American Express Travelers Checks. That is why I was looking at this thread.

Anyway, your solution is simply brilliant .. and in standard Thai Visa fashion, is being ignored to ... instead .. whine about "banksters" ... etc

Creative solution .. well done!

[Eneukman]

I deposited personal checks in the past and bank always said it would take up to 45 days before it appeared in my account. In my case it always took 30-45 days to appear in my account. I stopped because the checks cleared my US account within 7 days but took another 3-4 weeks to show up in my Thai bank account.

The most interesting question here is: In who's account did the money sit after it cleared your US Account.

We all know that a digital transfer take a day.... so basically the thai bank is "sitting" on the money for a month.... sounds amazing...

But

TIT

It's many years since I worked in branch banking (I worked in a specialist department for over 25 years). The procedure then was that the cheque would be posted by mail to the specific branch of the issuing bank. Here, the cheque would likely be sent to the Bank's Head Office from where it would be sent to the issuing Bank's Head Office (or possibly first tp a bank in the same country with which they have an agreement re such cheques). If the bank in your home country honour the cheque, they should then remit the funds, less costs, to your Thai bank account. Previously, the funds would be remitted via both your home country's and your Thai bank's Head Offices but today, the funds should be remitted direct to your account within 2 or 3 working days.

If your are expecting funds from abroad, it is always best to have it paid into an account in your home country.

Alan

As I reported in another thread, it took 2 weeks for registered airmail letters to reach the UK from Thailand

[JacChang]

Been doing this for years, it's the best cost wise way to transfer money from abroad. No fees deducted from my home country's bank, and the receiving banks take about 10-15USD, which is about 0.1% or less of my total amount. The time takes roughly 40 days. I get the current day's exchange rate. Not less or more than anyone else.

After using this method, never again any ATM withdrawals, credit cards, or TT transfers.

[jacko45k]

so this is cheaper than doing a normal transfer, just write yourself a cheque, must be a catch somewhere, exchange rate?

It wasn't cheaper for me, in fact more than my regular 'TT' transfer. That and the extra time involved makes it unlikely I will try it again.

[Khun Han]

In my experience, all banks have an 'express clearance' facility. You have to ask for it. They don't promote it because the longer they have your money - up to six weeks, the more money they make out of you. Express clearance usually clears a cheque within 24 hours max 48. Obviously you pay more for it, but it may be worth it just for peace of mind.

Even though the cheque's for a fairly large amount in Sterling, my in-law won't pay any more than the bare minimum in fees, and is prepared to wait.

An express service is potentially useful to myself (and, I expect, others on here) going forward though. Anyone now if one's available, and at what cost?

[LazySlipper]

Hi members,

Maybe I missed a thread, but I have a question following all I have read here. Any help/suggestions are most welcome.

Maybe Jaschang was talking about this but I am kinda banking illiterate...

Excuse me if I am making anyone repeat themselves--here goes

What about wiring money from my canuck bank to Bangkok Bank?

1. What is the waiting time?

2. How is the exchange rate decided? ( I read a pinned post about exchange rates and I am quite confused now)

3. Am I better off writing a check or doing a direct wire transfer?

OHHHH

4. and... is BKK Bank the best of the worst?

Thanks ahead

Edited June 3, 2016 by LazySlipper

[MichelBangkok]

I used to deposit my personal Canadian cheque written to myself in my Bangkok Bank account. It used to cost US$10 to deposit the cheque and I would receive the money in less than 30 days. Then all of a sudden things changed. I was charged US$75 for this service by Bangkok Bank. It seems that the Bank of Nova Scotia is no longer the corresponding bank, and The Toronto Dominion Bank replaced them along with a hefty US$ service charge to clear a cheque.

I don't know what it is like for personal cheques from other countries but this is the heads up whats happening on depositing cheques from Canada.

Exact same experience with Bangkok Bank at this end and RBC (Royal Bank of Canada) at the other. Told (more than six months ago) by Bangkok Bank (headquarters) that the fee to deposit such personal cheque has been substantially lifted and would remain high. Now use SWIFT transfers, more expensive, but you control the exchange rate, with a narrow window of a few days max for the entire process to be completed.

[Khun Han]

My in-law's cheque cleared yesterday, exactly 28 days after she paid it in. The bank charge was 600bt, and she got yesterday's inter-bank rate. As I said earlier, this was with Krung Thai.