bank will not let me transfer my money home to UK

[pumpjack]

i sold condo unit 8 months ago.    it was a private sale between me and an australian guy who tranferred the money to my bank ( the sale did not go through matrix developments )

i have ( copy )  of a reciept from the buyer , i also have a contract sales agreement ( original ).

 

i went to kasikorn bank 2nd floor pattaya klang yesterday to make a swift transfer.   they told me that i need show chanote , land title deed.  they did not let me make the transfer.

 

how am i going to get this money out of thailand now ( 2.8 million baht )  i need it to put deposit down on house in uk. 

1. maybe shut my account and open a new account then make transfer from that bank ?

2. dont tell bank that i sold a condo but instead tell them that my uncle/ family sent me this money ?  but on receipt it states it was transferred for condo sale .

3. shut bank account and take all cash money to super rich in bangkok ?   maybe they can do something ? 

 

if all options fail i am left with having to make daily ATM withdrawls in UK which would surely cost me a lot wouldnt it and if i done that then the uk bank would want to know where i got money from to buy house in uk and i would  need show them all recepts from daily cash withdrawals which would maybe not satisfy them under money laundering rules in UK

 

worst case scenario put it into an investment fund getting a little interest ? 

 

what would you do ?       really need to get this money out.  thanks in advance

[NanLaew]

16 minutes ago, pumpjack said:

they told me that i need show chanote , land title deed.  they did not let me make the transfer.

I understand that the bank needs to see copies of these documents?

 

Did you make copies while you owned the condo? Can the lawyer assist with getting copies from the new owner? Can you ask the new owner directly to assist?

 

Going back to when you purchased this condo, was there any transfer of funds from overseas into the country to fund the purchase the condo and were these funds flagged as such?

[The Fat Controller]

If you had a condo in the "foreign" allocation, you should have originally transferred the funds from overseas and consequently have the relevant foreign exchange transfer document.

That, along with the sale details should be sufficient for the bank to allow you to transfer out at least the original amount and maybe the whole sum.

If Matrix did you a dodgy deal with dodgy funds, then it looks like you are stuffed regarding a SWIFT transfer.

Move the funds to another bank and you will likely come up against the same issue, you have to prove the money came from overseas to send it out again.

Edited October 7, 2017 by The Fat Controller

[Pib]

Yeap, any bank will want to see the documents showing the funds originally coming into the country and documents associated with the sale.

[johng]

If you don't have the correct documents, send SWIFT
in smaller amounts, say you sold your car,motorbike etc

[Rc2702]

Why not just take the cash out and handball it back to UK?

 

 

[lungbing]

Because when you convert it back to GBP in the UK you would get an awful exchange rate.

[ExpatOilWorker]

6 minutes ago, lungbing said:

Because when you convert it back to GBP in the UK you would get an awful exchange rate.

You can exchange it all to GBP in Thailand at a very good rate: https://www.superrichthailand.com/#!/en

 

[Jip99]

I transferred 990,000 Baht back to the U K on behalf of a friend. No questions asked.

 

Try smaller amounts by SWIFT and then consider drawing out cash and see what someone like Superrich will give you.

 

Take a walk down soi Buakhao and buy up Pounds, Dollars and Euro from the exchange shops.

[Coconut007]

Buy 20 bitcoins, cash in Europe

[wimpy]

If it was me, I would buy bitcoin in Thailand and convert back to my home currency. Will have pay some fees, to do this.

[Minnehaha]

Sold a condo but

Cannot show purchase and sale or ownership of the asset from 3rd party like Land Office issued Chanote

 

Cannot show how you got the money to buy condo mentioned above

 

Then you have to be simple minded to think any govt or bank will let you launder the cash. 

 

Best move is Bit coin as mentioned above.  

[SpeakeasyThai]

5 minutes ago, Minnehaha said:

Sold a condo but

Cannot show purchase and sale or ownership of the asset from 3rd party like Land Office issued Chanote

 

Cannot show how you got the money to buy condo mentioned above

 

Then you have to be simple minded to think any govt or bank will let you launder the cash. 

 

Best move is Bit coin as mentioned above.  

How do you purchase bit coin?

 

(A very volatile form of currency btw can could go tits up)

[Monomial]

24 minutes ago, SpeakeasyThai said:

How do you purchase bit coin?

 

(A very volatile form of currency btw can could go tits up)

 

Setup an account with bx.in.th.  Deposit your Thai Baht. Leave it as Thai Baht. Do not buy any cryptocurrency.

 

Then, set up an account with an overseas bitcoin exchange linked to your UK bank account.

 

When you are ready, log into bx.in.th, convert THB to Bitcoin, transfer Bitcoin to your UK exchange, convert BTC back to GBP. Deposit to your UK bank.

 

No risk of any major currency fluctuation because you held the bitcoins all of an hour or two.  The biggest challenge is finding an overseas exchange that will let you link your bank account in the UK if you don't have a current address in the UK.

 

 

 

[Scouse123]

15 hours ago, Rc2702 said:

Why not just take the cash out and handball it back to UK?

 

 

Because the UK will not accept ' cash ' from unknown source as a deposit. It falls under money laundering rules. There is also a limit, if in Thai baht, what he can take out of the Kingdom of Thailand.

Edited October 8, 2017 by Scouse123

[Scouse123]

I have sent you a PM which may help

[luk AJ]

Buy gold


Sent from my iPhone using Thaivisa Connect

[david555]

21 minutes ago, Scouse123 said:

Because the UK will not accept ' cash ' from unknown source as a deposit. It falls under money laundering rules. There is also a limit, if in Thai baht, what he can take out of the Kingdom of Thailand.

In thai bills only 50 000 baht...in foreign the value of 20 000  usd a person carry each...but by entring eu or uk must declare from value 10 000 euros

[david555]

2 minutes ago, luk AJ said:

Buy gold


Sent from my iPhone using Thaivisa Connect

Forbidden to export thai bullions....and 96% thai gold more difficult to sell in europe as the 99% western standard...excuse shall be ...must melt & raffine to 999

[catman20]

17 hours ago, johng said:

If you don't have the correct documents, send SWIFT
in smaller amounts, say you sold your car,motorbike etc

you can send 1 million baht either every week or every month not sure which

[luk AJ]

Forbidden to export thai bullions....and 96% thai gold more difficult to sell in europe as the 99% western standard...excuse shall be ...must melt & raffine to 999

The gold I bought in Thailand in the passed was always 99%. You can buy a few necklaces same price as weight.



Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[ThailandLOS]

38 minutes ago, david555 said:

Forbidden to export thai bullions

Source?

[portly]

Superrich  Don't they simply exchange money     ,   doubt they send to UK   .  or  do they?             10,000 usd or equivalent and 10 ,000 usd gold is permitted according to various posts before   .........SWIFT seems best if you get the right bank teller on a good day  .    rules made up as they go along of course.

[lucjoker]

2,5 milj bht is small patatoos.

Put the cash  in your pocket and fly away.

In uk ,buy a second hand car ( can do with cash) sell it a week later and put the money

on a uk bank ,if they ask where you get the money ,show the the paper that you sold your car. I did it like that ,very easy

 

[Jip99]

1 minute ago, portly said:

Superrich  Don't they simply exchange money     ,   doubt they send to UK   .  or  do they?             10,000 usd or equivalent and 10 ,000 usd gold is permitted according to various posts before   .........SWIFT seems best if you get the right bank teller on a good day  .    rules made up as they go along of course.

 

 

We are talking about options in case he can't remit by SWIFT (which he can't at the moment).

 

 

In which case Superrich is a good option to turn his Baht into GBP/USD/EUR.

[DeeMak9]

15 hours ago, Coconut007 said:

Buy 20 bitcoins, cash in Europe

Yes, this actually works like a charm. But you do need to know what youre doing.

[KittenKong]

On 07/10/2017 at 1:36 PM, pumpjack said:

i sold condo unit 8 months ago.    it was a private sale between me and an australian guy who tranferred the money to my bank ( the sale did not go through matrix developments )

i have ( copy )  of a reciept from the buyer , i also have a contract sales agreement ( original ).

.......

if all options fail i am left with having to make daily ATM withdrawls in UK which would surely cost me a lot wouldnt it and if i done that then the uk bank would want to know where i got money from to buy house in uk and i would  need show them all recepts from daily cash withdrawals which would maybe not satisfy them under money laundering rules in UK

 

With the receipt from the buyer and the sale contract you have sufficient proof for a UK bank that your deposit is valid, even if you have to resort to carrying cash to get it to the UK. Presumably you also have Thai bank books in your name showing the amounts. UK banks are aware that Thailand has third-world foreign exchange controls.

 

Though in practice you should be able to send the money by bank transfer in several smaller amounts without any trouble.

[chingching]

Or buy ethereum,  just as easy to buy as bitcoin,  a bit less volatile at the moment , and save a bundle in fees, and you'll receive it in seconds, not an hour.

[4MyEgo]

I would exchange the money at superrich to a strong currency, take the money with you on your flight, with your paperwork of the sale.

 

If customs pulls you up, show them the docs, if they ask why didn't you send it by SWIFT, say that you didn't want to leave the money in a Thai bank, your choice and if it was a legitimate sale, you shouldn't have a problem, if it was all made up, good luck... 

[Suradit69]

5 hours ago, portly said:

rules made up as they go along of course.

Sort of like the advice given by resident "experts " on TV.