Can I transfer 1 million baht from Thai bank to Australian bank?

[MrPatrickThai]

 

Is there a maximum of how much I can transfer to an Australian bank from Siam Commercial bank?

 

 

[catman20]

YES  1 million baht no questions asked 

[steven100]

I can get it to your Aussie bank,  1 mil,  2 ... whatever you like  .... just let me know ....       no problem. 

[wirat69]

Possibly limited by the amount you brought into the Kingdom and the Bank still has the exchange declaration records.....

[simoh1490]

You can't transfer more than 50k baht out of Thailand, except to selected neighbouring countries, THB is a restricted currency and cannot be freely exported.

 

If however, you want to convert your money into another currency, as a foreigner you may be able to export it to Australia as long as it meets certain criteria: you have a work permit and earned the money here; you sold a property in Thailand that was paid for using money brought in from overseas and you have the associated paperwork. Most other criteria depends on the relationship you have with your bank and what they are prepared to allow, banks act as BOT's agents in this respect. Note: funds brought into Thailand from overseas for living expenses, are not necessarily allowed to be repatriated because you were supposed to have lived off them hence they should have been spent.

 

 

[MrPatrickThai]

Thanks the last 2 posters. I do have a work permit and earned some money here but some has also come from abroad.

 

[simoh1490]

5 minutes ago, MrPatrickThai said:

Thanks the last 2 posters. I do have a work permit and earned some money here but some has also come from abroad.

 

Go see your bank, you shouldn' have a problem.

[MrPatrickThai]

24 minutes ago, simoh1490 said:

Go see your bank, you shouldn' have a problem.

Online should be ok - http://www.qropsspecialists.com/money-transfers-thailand/

$50 k no prob.

[recycler]

Talk to some money changers, the larger established ones may have customers that want money from OZ to TH, that will give you a much better rate. I had Euro's for Baht that way at almost the mid rate.

[Austrian26]

hi. Transferwise is your best and cheapest option. They have a bank  acc in basically every country worldwide and their fees are the lowest possible. You basically send them money to their thai bank.. they convert it and send you the same amount in Australia. I send regulary to different countrys with that. 

1 Mio shouldnt be a problem. 

 

Disclaimer: ref link 

 

*link removed*

Edited December 1, 2017 by Scott
Link removed

[Minnehaha]

Buy Bitcoin. And give it a couple weeks till you see a favorable increase in value and convert it to Auzzie dollars.  

[12DrinkMore]

There does appear to be a bunch of "cannot doers" on this subject.

 

1. I have transferred amounts up to 1,5 million Baht (converted in Thailand to forex) abroad, using both the SCB and BBL. No questions, no documentation of where the money came from and all done in a short time. The money was also in my destination account way quicker than UK banks have ever managed to achieve. I told them I wanted the money to go travelling.

 

2. AYB had to call head office, who wanted some proof of where the funds came from. I took the money out in cash, walked to the BBL, paid it over the counter into my deposit account and made the transfer. Done in an hour.

 

3. As you have a work permit you can enable international transfers in BBL internet banking. I cannot because I am on a retirement visa. This makes it all even easier, as you can then do everything from home. I do not know what the limits are.

 

I reckon all those naysayers() or bitcoiners () are ether living in the past, have never tried to make a transfer or have listened to way too much barstool banter.

 

Above USD 50k there is another declaration to fill out. I have always kept beneath this limit.

 

[natway09]

The "source of funds " question may come up

[wazzupnow]

i do not know i always taught money transfers in thailand is one way traffic, IN only?

[simoh1490]

18 minutes ago, wazzupnow said:

i do not know i always taught money transfers in thailand is one way traffic, IN only?

That's seriously untrue, I've exported THB to the UK on many occasions over the past 15 years, all without a problem.

[digger70]

6 hours ago, Austrian26 said:

hi. Transferwise is your best and cheapest option. They have a bank  acc in basically every country worldwide and their fees are the lowest possible. You basically send them money to their thai bank.. they convert it and send you the same amount in Australia. I send regulary to different countrys with that. 

1 Mio shouldnt be a problem. 

 

Disclaimer: ref link 

 

https://transferwise.com/u/karimb11

Problem,,,,Transferwise does NOT transfer money OUT of Thailand YET..

[bazza73]

7 hours ago, Austrian26 said:

hi. Transferwise is your best and cheapest option. They have a bank  acc in basically every country worldwide and their fees are the lowest possible. You basically send them money to their thai bank.. they convert it and send you the same amount in Australia. I send regulary to different countrys with that. 

1 Mio shouldnt be a problem. 

 

Disclaimer: ref link 

 

https://transferwise.com/u/karimb11

A bit off topic, I'm a bit puzzled by the repeated statements Transferwise is the best option.

I transfer lump sums of about $20K - $30K from Australia to Bangkok Bank for living expenses. I do an International Telegraphic Transfer which costs me $30 ( Australian ) at that end. Bangkok Bank charges me 200 baht, and exchanges at 0.2 baht under the cross rate on the day.

When I plugged in  a transfer of $25K from Australia on the Transferwise website, I was quoted a fee of

$118 in USD. So why is it considered the best and cheapest option?

 

 

 

[simoh1490]

1 hour ago, digger70 said:

Problem,,,,Transferwise does NOT transfer money OUT of Thailand YET..

Not yet, not until they get a retail banking license from BOT, expect that to happen in 2050, maybe!

[pmarlowe]

worst case 500k per day; otherwise no problem. you can transfer thb or AUD equivalent. your choice.

[simoh1490]

20 minutes ago, pmarlowe said:

worst case 500k per day; otherwise no problem. you can transfer thb or AUD equivalent. your choice.

Let us know how you get on, asking any bank to transfer 500k THB to Australia, expect to get laughed at, a lot!

[pmarlowe]

  32 minutes ago, pmarlowe said:

worst case 500k per day; otherwise no problem. you can transfer thb or AUD equivalent. your choice.

Let us know how you get on, asking any bank to transfer 500k THB to Australia, expect to get laughed at, a lot!

 

OK may be different for OZ but i do it all the time to my USA account.

 

[simoh1490]

19 minutes ago, pmarlowe said:

  32 minutes ago, pmarlowe said:

worst case 500k per day; otherwise no problem. you can transfer thb or AUD equivalent. your choice.

Let us know how you get on, asking any bank to transfer 500k THB to Australia, expect to get laughed at, a lot!

 

OK may be different for OZ but i do it all the time to my USA account.

 

You do not transfer 500K THB to anywhere outside of Thailand, apart from perhaps to neighbouring countries. You may convert the THB to another currency first and then transfer it, that will work, but you don't transfer Thai Baht, BOT does not allow it.

[madusa]

My bad experience with bank in Australia. I sent some money to Australia buying some musical instrument strings, what shocked me was the amount the Australian bank charged because when the Supplier when to bank she got so much less. Hope you find out first before you go transfer the money.

[scorecard]

11 hours ago, Austrian26 said:

hi. Transferwise is your best and cheapest option. They have a bank  acc in basically every country worldwide and their fees are the lowest possible. You basically send them money to their thai bank.. they convert it and send you the same amount in Australia. I send regulary to different countrys with that. 

1 Mio shouldnt be a problem. 

 

Disclaimer: ref link 

 

https://transferwise.com/u/karimb11

 

Does that mean it must be deposited into an Australian bank account in your own name or can it be deposited to any bank account you nominate in Australia?

[Austrian26]

56 minutes ago, scorecard said:

 

Does that mean it must be deposited into an Australian bank account in your own name or can it be deposited to any bank account you nominate in Australia?

Hi , apparently so far money can not be transfered from Thailand to Australia, just from Australia to Thailand.. 

Personally i always send from my bank in Austria to my friends Thai Bank Account . so it doesnt have to be the same name.

About fees i think transferwise is perfect for small sums up to 100k baht 

because when i transfer about 40k it just takes 1-2 days and costs about 300 baht in fees, which is awesome (compared to western union wich can be up to 2000 baht) .. 

 

[pmarlowe]

  17 hours ago, pmarlowe said:

  18 hours ago, pmarlowe said:

Let us know how you get on, asking any bank to transfer 500k THB to Australia, expect to get laughed at, a lot!

 

OK may be different for OZ but i do it all the time to my USA account.

 

You do not transfer 500K THB to anywhere outside of Thailand, apart from perhaps to neighbouring countries. You may convert the THB to another currency first and then transfer it, that will work, but you don't transfer Thai Baht, BOT does not allow it.

 

My bad...you are correct...SCB offers to send in a foreign currency or "THB equivalent" for the online transfer. Why would anyone want THB in Australia anyway. Just curious.

[Sirbergan]

On 12/1/2017 at 11:09 AM, Minnehaha said:

Buy Bitcoin. And give it a couple weeks till you see a favorable increase in value and convert it to Auzzie dollars.  

Or, in case it's important to transfer it quickly, buy XRP and transfer from one exchange to the other instantly (Bitcoin can take days to transfer from one wallet to another). Such an approach would, as far as I know, require accounts on two different exchanges (one with the Thai bank account and one with the Australian bank account), as most crypto exchanges only allows withdrawals to the same account you deposited from.

Edited December 2, 2017 by Sirbergan
Clarification

[MrPatrickThai]

http://www.qropsspecialists.com/money-transfers-thailand/

 

Seems $50,000 is the max

[Naam]

On 12/1/2017 at 8:45 AM, MrPatrickThai said:

Online should be ok - http://www.qropsspecialists.com/money-transfers-thailand/

$50 k no prob.

$50 k no prob? little do you know!

[MrPatrickThai]

3 minutes ago, Naam said:

$50 k no prob? little do you know!

Please enlighten me!