Travellers cheques?

Old Jan 29th 2014, 11:29 pm
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Default Travellers cheques?

Hi all,

I'm looking to move over to Thailand soon and am in the process of aquairing a condo..

How does it work if I take over some funds in travellers cheques!?
Bangkok bank shouldn't have an issue placing them in my sisters account there right??

Never used travellers cheques in thai before.

Any advice appreciated!
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Old Jan 30th 2014, 4:04 am
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Default Re: Travellers cheques?

the bank charges a small fee for processing each cheque . They can put the money anywhere you like . You might be better off just doing a simple transfer from your home account to your sister's account, it normally takes 3-5 working days for the money to clear.
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Old Jan 30th 2014, 6:49 am
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Default Re: Travellers cheques?

Originally Posted by nonthaburi
the bank charges a small fee for processing each cheque . They can put the money anywhere you like . You might be better off just doing a simple transfer from your home account to your sister's account, it normally takes 3-5 working days for the money to clear.
Cheers mate, but my funds are already in travellers cheques you see..
Any idea if Bangkok bank have any issues depositing them in someone else's account?? Is it just like cash? I've never used travellers cheques before and have no idea how they work?

I'm looking to take over a few thousand do you know what the max is to enter Thailand?
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Old Jan 30th 2014, 1:41 pm
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Default Re: Travellers cheques?

It's been decades since I last used a travellers cheque but the way it used to work is that you "cash" them at a bank ie you will receive cash.
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Old Jan 30th 2014, 2:24 pm
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Default Re: Travellers cheques?

Originally Posted by bakedbean
It's been decades since I last used a travellers cheque but the way it used to work is that you "cash" them at a bank ie you will receive cash.
Hmm ok cheers..

Any idea about the max amount u can bring into thai?
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Old Jan 30th 2014, 2:34 pm
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Default Re: Travellers cheques?

Not a clue....sorry.
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Old Jan 31st 2014, 12:15 pm
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Default Re: Travellers cheques?

According to the Thai custom, there is no limit to the amount of Thai or foreign currency you can bring into Thailand in form of cash, travellers cheques or bank drafts. All banks across the country can help you with the travellers cheques. Don't worry about that.
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Old Feb 2nd 2014, 5:15 am
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Default Re: Travellers cheques?

1. Foreign Currency

Foreign currencies can be transferred or brought into Thailand without limit. Any person receiving foreign currencies from abroad is required to repatriate such funds immediately and sell to an authorized bank or deposit them in a foreign currency account with an authorized bank within 360 days of receipt, except for foreigners temporarily staying in Thailand for not more than three months, foreign embassies, international organizations including their staff with diplomatic privileges and immunities, and Thai emigrants who are permanent residents abroad or working abroad.

Purchase of foreign currency from authorized banks is generally allowed upon submission of documents indicating international trade and investment. Companies in Thailand can engage in derivatives transactions with authorized banks to hedge against foreign exchange risk provided that supporting documents indicating future foreign currency receipts or obligations are submitted.

Any person bringing into or taking out of Thailand foreign currency bank notes in an aggregate amount exceeding USD 20,000 or its equivalent must declare to a customs officer.

2. Local Currency

There is no restriction on the amount of Thai baht bank notes that may be brought into the country.

A person traveling to Vietnam, the People's Republic of China (only Yunnan province) and Thailand's bordering countries is allowed to take out up to THB 2,000,000. Taking out Thai Baht bank notes in an amount exceeding THB 450,000 requires declaration to a Customs Officer.

A person traveling to other countries is allowed up to THB 50,000.

That was from the Bank Of Thailand website, so it seems that the only stipulation is that you have to declare it if bringing in over 20,000$ but no actual limit.
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Old Feb 2nd 2014, 7:14 am
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Default Re: Travellers cheques?

Originally Posted by nonthaburi
1. Foreign Currency

Foreign currencies can be transferred or brought into Thailand without limit. Any person receiving foreign currencies from abroad is required to repatriate such funds immediately and sell to an authorized bank or deposit them in a foreign currency account with an authorized bank within 360 days of receipt, except for foreigners temporarily staying in Thailand for not more than three months, foreign embassies, international organizations including their staff with diplomatic privileges and immunities, and Thai emigrants who are permanent residents abroad or working abroad.

Purchase of foreign currency from authorized banks is generally allowed upon submission of documents indicating international trade and investment. Companies in Thailand can engage in derivatives transactions with authorized banks to hedge against foreign exchange risk provided that supporting documents indicating future foreign currency receipts or obligations are submitted.

Any person bringing into or taking out of Thailand foreign currency bank notes in an aggregate amount exceeding USD 20,000 or its equivalent must declare to a customs officer.

2. Local Currency

There is no restriction on the amount of Thai baht bank notes that may be brought into the country.

A person traveling to Vietnam, the People's Republic of China (only Yunnan province) and Thailand's bordering countries is allowed to take out up to THB 2,000,000. Taking out Thai Baht bank notes in an amount exceeding THB 450,000 requires declaration to a Customs Officer.

A person traveling to other countries is allowed up to THB 50,000.

That was from the Bank Of Thailand website, so it seems that the only stipulation is that you have to declare it if bringing in over 20,000$ but no actual limit.
Thank you very much this has been a great help
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Old Feb 2nd 2014, 7:22 am
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Default Re: Travellers cheques?

So travellers cheques are just like cash? They can be cashed even if they belong to my brother to be placed in my sisters account without them needing anything?

So they don't belong to me and the account I'm putting them in doesn't belong to me and the bank will be fine with that?

I mean if they treat it as cash then I can understand that.. Otherwise I'm just trying to think if they will need any documents?

Don't want to go there and then be told I need A or B documents that's all.

Also condo ppl need proof that funds are brought in I take it that means receipt of travellers cheques being transferred into thai funds?

Sorry I'm very new at this questions coming out my ears lol!!
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Old Feb 2nd 2014, 1:15 pm
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Default Re: Travellers cheques?

Just on the comment about the condo people.....I would really check with them what is acceptable. They will know the ropes about property purchase.

Just speaking from past experience, and rules may well be different now, there was a set procedure for bringing the money in, then official receipts have to be issued by the banks. These are essential to have if you sell up later.....otherwise you may not get the money out.
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Old Feb 2nd 2014, 2:03 pm
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Default Re: Travellers cheques?

Originally Posted by bakedbean
Just on the comment about the condo people.....I would really check with them what is acceptable. They will know the ropes about property purchase.

Just speaking from past experience, and rules may well be different now, there was a set procedure for bringing the money in, then official receipts have to be issued by the banks. These are essential to have if you sell up later.....otherwise you may not get the money out.
Ahhh I see so you mean if you don't get receipts or letter from bank then later sell u get the money but what you can't transfer out the country??
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Old Feb 2nd 2014, 2:13 pm
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Default Re: Travellers cheques?

Well, something like that. But you really should check what the current situation is. If you have engaged a good lawyer for the purchase, then they should advise you.

All the best.....our first lawyer there (not Thai) was a crook.
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Old Feb 2nd 2014, 3:19 pm
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Default Re: Travellers cheques?

Originally Posted by bakedbean
Well, something like that. But you really should check what the current situation is. If you have engaged a good lawyer for the purchase, then they should advise you.

All the best.....our first lawyer there (not Thai) was a crook.
Ok thanks , if anyone has further information , appreciated
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