seasoning of $25,000 or 800,000

[oogster8]

anyone just deposit a $25,000 PERSONAL CHECK in their bangkok bank account to get started. and do you get reasonable market exchange rates?

[Mario2008]

You can deposit money in foreign currency account, but must be careful that during the seasoning period the value doesn't come below 800,000 baht due to exchange fluctuations.

[oogster8]

sounds good. i know it takes a month to clear but my main concern is if theyll take a usa check at all. i vaguley remembering depositing a small usa check before and it went through.

ill just dep. more to cover the exchange fluctuations.

thanks.

[ubonjoe]

The date you deposited the check would not start the seasoning of the funds. That would start on the date the check cleared and funds were made available.

You would get the published exchange rate.

Transferring the funds via swift would be the best way to do it.

If in the US and you have a Bangkok Bank account you can transfer the funds to their New York branch at domestic transfer rates.

[NancyL]

Yes, the banks will accept a personal check, but it can take up to a month for the check to clear and be credited to your account. That's when the clock will start for the seasoning of your money. Also, they charge a fee for depositing a personal check that may cause you to reconsider the wisdom of doing a wire transfer.

If you're from the U.K. or U.S. and depositing into Bangkok Bank, you may wish to consider doing a ACH transfer via on-line banking since Bangkok Bank has branches in NYC and London. This topic is well-covered in the Banking forum of Thai Visa and also addressed on the Bangkok Bank website. It's very slick -- I use it several times a year to transfer funds from my U.S. credit union to my Chiang Mai Bangkok Bank account. The money arrives within hours and it's much cheaper than wire transfer.

[WBS2555]

anyone just deposit a $25,000 PERSONAL CHECK in their bangkok bank account to get started. and do you get reasonable market exchange rates?

Personal Foreign Cheque, the bank use a buying rates - Sight bill is applied to foreign exchange transaction (change foreign currency to baht) and plus a cheque clearing process from $20 to $32.

The best rate is using "Buying TT" rates when the funds transfer via swift.

If transfers fund from USA using ACH system via Bangkok Bank's New York, you can save on fees
start from $3 unto $20 depending on the amount transferred.

You can have the funds transferred into the Thai Baht account or Foreign Currency Deposit account you maintains with Bangkok bank.

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/Accounts/ForeignCurrencyAccount/Pages/ConditionsandFees.aspx


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