How to cash a cheque made out in Thai baht

5005

I have sold a property in Thailand. It appears due to money laundering issues all transactions must be paid by cheque in baht. However, I don't have a Thai bank account and as a UK national don't seem to be eligible to have one.There must be a way to resolve this . Ideas? 

Alderbank

Just pay it into your UK bank?

Mainstream banks like Lloyds and Barclays have no problem with this but some newer online banks might not accept cheques written in BHT. 
The exchange rate will not be the best though and it could be a few weeks before the cheque is cleared.

Cheques in general are old fashioned, much better to have it paid electronically into your bank. Use your IBAN number (International Bank Account Number). This is similar to your sort code and account number.

100BHT is currently worth about £2.18

Hoenir

Many UK banks are no longer offering foreign cheque clearing services to personal customers. Most international transfers being electronic these days. 

wmb194

5005 said:

I have sold a property in Thailand. It appears due to money laundering issues all transactions must be paid by cheque in baht. However, I don't have a Thai bank account and as a UK national don't seem to be eligible to have one.There must be a way to resolve this . Ideas? 

HSBC used to be a good choice but in a recent thread someone said that from 01/01/24 it stopped processing US and perhaps other foreign cheques.

LHW99

Looks like Nat West may still offer this (don't know what currencies)

https://www.natwest.com/support-centre/help-with-your-product/cheques/how-long-does-it-take-for-foreign-cheques-to-clear.html

I think Barclays has given up though

BeachNut

5005 said:

I have sold a property in Thailand. It appears due to money laundering issues all transactions must be paid by cheque in baht. However, I don't have a Thai bank account and as a UK national don't seem to be eligible to have one.There must be a way to resolve this . Ideas? 

Assume its a condo since that's the only property you can 'legally' own as a foreigner, so how do you pay your management fees or utility standing charges if you don't have a THB bank account? 

Beddie

5005 said:

I have sold a property in Thailand. It appears due to money laundering issues all transactions must be paid by cheque in baht. However, I don't have a Thai bank account and as a UK national don't seem to be eligible to have one.There must be a way to resolve this . Ideas? 

Does your estate agent or solicitor in Thailand have any suggestions? Surely you cannot be the first person they've worked for who has ended up in this position.

fifeken

5005 said:

I have sold a property in Thailand. It appears due to money laundering issues all transactions must be paid by cheque in baht. However, I don't have a Thai bank account and as a UK national don't seem to be eligible to have one.There must be a way to resolve this . Ideas? 

If you are in Thailand an agent can arrange a bank account for you for a fee.