Banking Transfers

[timber]

Having sold some real estate money needs to be transferred to multiple owners.  My bank limitation is 200,000 baht per day and money to be transferred will run into millions. 

Is there a way that additional money can be transferred.  200,000 baht isn't that much in the scheme of things.

[The Fat Controller]

Cashier's Cheque (CHECK if you're not British)

 

Very cheap to buy from your bank

 

20 Baht at Bangkok Bank for a 1 million Baht cheque.

Edited March 18, 2018 by The Fat Controller

[Crossy]

When we had to do something similar, SCB suggested drawing cash for the full amount and depositing it via the relevant ATMs to other accounts.

 

[timber]

Thanks guys for the comments.  Would like to use internet transfer to avoid carrying a large amount of cash around.  Partners live all over Thailand so would rather use transfer than checks.  We did go to one of the owners bank and do a interbank transfer.  Surprised how much it was.  To transfer money from one bank to another really should be a customer service rather than a chargeble service.  Can't really cost anything.

 

[The Fat Controller]

Yes, transfers are very expensive compared to other countries.

 

Cashier's checks using EMS signed-for post would be the most cost-effective solution I would think.

[blackcab]

If you have to move millions inter-province it's probably going to get expensive.

 

Bank cheques are the way to go. SCB charge us 25 baht per cheque.