Please can someone tell me what this rule means if i want to put money into my wifes thai account from UK

Don't worry and don't listen to the gloom and doomers. Just send the money, no problem. I just transferred $60,000 to my account a couple weeks ago. Doesn't matter if it's your wife's account. The 30% is for buying Thai bonds.

Don't worry and don't listen to the gloom and doomers. Just send the money, no problem. I just transferred $60,000 to my account a couple weeks ago. Doesn't matter if it's your wife's account. The 30% is for buying Thai bonds.

Thanks very much,will she have to pay any tax on it

No.

The 30% is for buying Thai bonds.

Wrong!

The 30% reserve is for every remittance of USD 20,00 or more exept for purposes that are specifically exempt, and it does matter in whose name the account is.

30 percent reserve requirement

30 percent reserve requirement – summary

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Maestro

Transferred 5000 sterling on Friday last week, nothing witheld. Get your UK bank to send the funds for "personal expenses" no problem. (I have a Bangkok Bank account)

Edited January 23, 200719 yr by andyadam

warning everybody

I just transfered 20,500 us to my ayuthaya bank account and it was withheld for 10 days. They asked me what the money was for (bank of Thailand rules for sums over 20,000us). I pleaded that I wanted to buy a car (bullshit) and they made me sweat for 2 more days before allowing me to have my money.

MACA

The 30% is for buying Thai bonds.

Wrong!

The 30% reserve is for every remittance of USD 20,00 or more exept for purposes that are specifically exempt, and it does matter in whose name the account is.

30 percent reserve requirement

30 percent reserve requirement – summary

--

Maestro

So if i transfer 15000 sterling to my thai wifes bank in Thailand can they keep 30% ?

The 30% is for buying Thai bonds.

Wrong!

The 30% reserve is for every remittance of USD 20,00 or more exept for purposes that are specifically exempt, and it does matter in whose name the account is.

30 percent reserve requirement

30 percent reserve requirement – summary

--

Maestro

So if i transfer 15000 sterling to my thai wifes bank in Thailand can they keep 30% ?

It's extremely unlikely that they will hold anything back. I transferred 15k sterling only last week no problem at all. Every last satang in my account within a few hours.

Give the bank a quick call, tell them you are about to make a transfer and what's its for if you relly want piece of mind.

Transferred 5000 sterling on Friday last week, nothing witheld.

Remember that the reserve requirement is about remittances equivalent to USD 20,000 or more. Last time I looked, GBP 5,000 was equivalent to much less than USD 20,000.

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Maestro

So if i transfer 15000 sterling to my thai wifes bank in Thailand can they keep 30% ?

The rules about the 30% reserve requirement say it depends on what the money is to be used for. Then it depends of course also on whether and how your bank applies the rules.

If you want to exclude any risk, split your transfer into two remittances, each less than the equivalent of USD 20,000. That’s what I would do, if I needed to transfer that much money.

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Maestro

I just transfered 20,500 us to my ayuthaya bank account and it was withheld for 10 days. They asked me what the money was for (bank of Thailand rules for sums over 20,000us). I pleaded that I wanted to buy a car (bullshit) and they made me sweat for 2 more days before allowing me to have my money.

Thanks for your testimony. It shows clearly how stupid is the BOT's regulation.

Right from the begining. A system on money inflows, means that a system to "discriminate" the money is compulsory.

So... 20 000 USD ? To drink in Bangkok ? To give to your darling ? To buy a car ? Or maybe to be an uggly farang speculator and a currency player ?

Hum... "Oh my head hurts", must be thinking the clerk at the bank.

I can imagine the "work" for 10 days in the bank... "OK guys what do you think about those 20 500 USD coming ? Hot money ? Speculation ? Well... i'm going to eat my som tam, and I will think about it tomorrow".

Allez Miss "doctor" Tarisa. A last little push : and you'll gently make a U-turn and scrap this idiotic system... that you have created.

http://www.nationmultimedia.com/2007/01/24...es_30024981.php

They've just announced other... "exemptions" ! Well done Tarisa.

Transferred 5000 sterling on Friday last week, nothing witheld.

Remember that the reserve requirement is about remittances equivalent to USD 20,000 or more. Last time I looked, GBP 5,000 was equivalent to much less than USD 20,000.

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Maestro

Not for long the way the Dollar is going!!!!!!!!