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Clearing AUS cheque into Thai bank account


10 replies to this topic

#1 baywatch82

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Posted 2013-06-21 20:18:46

Such a nightmare.

25 April I went to Kasikorn Bank on Nimman Road to clear the cheque I have recieved from Australia.

They told me waiting time is 45 days.

On day 47 I went there again, because did not get money into my bank account.

They called Head Office to check it. They told me it takes 45 days, but working business days, does not count weekends and bank holidays.

In few days it will be 2 months while I am waiting for this money.

Nightmare.



#2 mesquite

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Posted 2013-06-21 21:21:48

I guess all you can do is keep on top of the situation.  I closed down a Kasikorn bank account at another branch due to their incompetence. 



#3 elektrified

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Posted 2013-06-21 21:35:42

A few months back I deposited a check from the USA into my account at Kasikorn Bank. With weekends and [many] holidays in Thailand and the USA, it took about 71 days to clear. I was also told that all checks going into the accounts of USA citizens have to first go through a special office somewhere in the Bangkok area to see if any money laundering or tax issues exist - at the request of the U.S. government. That adds about 4-5 days to the process.



#4 pitchag

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Posted 2013-06-22 06:08:21

I brought a bank draught to Thailand and the Bank of Bangkok said it would take 3 months to clear, I thought I might have trouble when the clerk was trying to read it upside down



#5 sustento

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Posted 2013-06-22 06:19:43

A check/cheque/bank draft is simply a piece of paper. It has NO VALUE AT ALL until it gets back to the issuing authority who will then transfer real money to redeem it. The fact that it has immediate value in the country of issue doesn't mean it has the same value anywhere in the world.



#6 huli

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Posted 2013-06-22 16:00:58

Mail the check to your home bank for deposit. Registered or whatever. That won't take too long.

Then transfer the money from that bank to your Thailand bank on the internet. That's free and takes three business days in my case.

IMO, this is the best way to access the money from a foreign check.



#7 baywatch82

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Posted 2013-06-22 16:26:45

Mail the check to your home bank for deposit. Registered or whatever. That won't take too long.

Then transfer the money from that bank to your Thailand bank on the internet. That's free and takes three business days in my case.

IMO, this is the best way to access the money from a foreign check.

Thanks for the advice. Already too late but I will remember in the future !



#8 stoli

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Posted 2013-06-22 16:30:35

Mail the check to your home bank for deposit. Registered or whatever. That won't take too long.

Then transfer the money from that bank to your Thailand bank on the internet. That's free and takes three business days in my case.

IMO, this is the best way to access the money from a foreign check.

Oh how I wish it were that easy. I spent last night on the phone trying to get my bank in the states to allow me to transfer funds from my account there, but they only allow transfers within accounts inside their banking system. They charge me a $40 wire fee to push a button and transfer my money here, rather than let me do it for free. I would like to own that button!



#9 huli

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Posted 2013-06-22 20:34:22

 

Mail the check to your home bank for deposit. Registered or whatever. That won't take too long.

Then transfer the money from that bank to your Thailand bank on the internet. That's free and takes three business days in my case.

IMO, this is the best way to access the money from a foreign check.

Oh how I wish it were that easy. I spent last night on the phone trying to get my bank in the states to allow me to transfer funds from my account there, but they only allow transfers within accounts inside their banking system. They charge me a $40 wire fee to push a button and transfer my money here, rather than let me do it for free. I would like to own that button!

 

 

In my case, I have a Citibank checking account in America, and my official residence with them is now in Chiang Mai. I got the account in preparation for moving to CM using an American address and then later changed my address to CM. I don't think I could have opened the account using the CM address initially. I have my SS and pension deposited in there. I can access the account online. I don't know how many other banks do online money transfers, but there must be others.

 

To transfer money from Citibank to Bangkok Bank via online I send the money as an interinstitution transfer to the NY Branch of BB. These interinstitution transfers can be to any bank in the US, not only another Citibank. Citibank views this as an in-country money transfer, but the money actually ends up in my CM BB savings account in 3 business days. Citibank doesn't charge me anything, but BB charges me 500 baht (I think) for each $2000 I bring in.

I also have an option to wire transfer money to BB for $30, and that comes the same business day as an international wire, I believe what you refer to. However, you can send a lot of money for just the same $30, lowering the cost per dollar.

 

So, it is good to get a bank account where you can transfer money to any bank within the country online, and then just send it to the NY Branch of Bangkok Bank.

 

I hope someone will find this information helpful. It works like a charm for me.



#10 kiniyow

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Posted 2013-06-22 23:30:12

U.S Treasury Tax Refund checks takes a few Months as well once deposited into a Thai Bank Account then a $5.00 Fee on top of this due to the check is from another country....



#11 elektrified

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Posted 2013-06-23 00:26:03

U.S Treasury Tax Refund checks takes a few Months as well once deposited into a Thai Bank Account then a $5.00 Fee on top of this due to the check is from another country....

Yes I forgot about the fee. I think most Thai banks charge 289 Baht commission to deposit a foreign check.







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