Transfer Money Out

[greenman2841]

I need to Transfer money from my Thai Bank Account to my Bank in the UK. I am with the kasikorn bank 

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Can anybody advise on the restrictions  and what is the best way I want to transfer around 400,000 TB (£9,500)

[Peter Denis]

Hi Greenman,

 

See this link > https://www.thethailandlife.com/how-to-send-money-to-thailand-no-bank-fees

 

The title of the article is somewhat misleading because it is not limited to sending money to Thailand, but simply about how to transfer money to a bank-account in another county, and this WITHOUT any bank fees being withheld.

Super-fast (max 2 days and the money is there) and better than the official exchange rate!

Read the article to understand how it works (in short TransferWise looks for somebody who is simultaneously looking to do the reverse transaction, and you only pay a small fee for their connecting service).

By the way, TransferWise is a British company and backed by sir Richard Branson who sees an opportunity in eliminating the longlasting and costly 'normal' interbanking money-transfer services.

Cheers,

 

Peter

 

[DUS]

Peter, afaik you cannot use Transferwise to transfer money OUT of Thailand which is what the OP asks for ....

[Peter Denis]

My apologies!

I presumed it would be possible to also send money out of Thailand to UK, as 'matching reverse operations' are the core of the TransferWise service.

But indeed, I do not see the Thai Bath in the - long - list of currencies from which you can transfer.

Strangely enough, it is possible to send money from elsewhere to a Thai bank account using the TransferWise service.

 

[Jack Mountain]

Maybe this is something for you ...

https://www.fxcompared.com/money-transfer/Thailand-Netherlands?amount=20000&aDir=0&bType=1&ref=filter

 

This is for TH-NL, play with the options and you know. 

[Pib]

Big difference between actually being able to transfer Thai baht out of Thailand versus just showing an exchange rate from THB to another currency, talking transfer of funds in general, etc.

 

Generally for a farang the transfer of THB out of Thailand is limited to salary repatriation, funds from the sale of a residence after proving the funds originally used to buy the residence were brought into Thailand, proving the funds you want to transfer out was originally brought into Thailand from abroad, etc.--documented proof required.  This is not to imply the Thai bank will not allow small amounts to be transferred like paying for something which may also require docs showing the the bill. 

 

Belos isthe K-bank webpage giving instructions on how to flow funds out.  Open the Global Outward Application Form for details/docs required.  And please note most of the outflow funds reasons are only available to Thai nationals....Thais have fewer restrictions on outflow of funds compared to farangs.   Basically for farangs it's limited to salary repatriation and flowing funds out you brought in before (gotta have the documented proof).   See partial quote below from the form regarding foreign nationals.   And  you find these rules repeated at other Thai banks because they are simply complying with Bank of Thailand regulations.   Documentation/proof req'd.

 

https://www.kasikornbank.com/en/personal/services/payment/Pages/outward.aspx