Hi. Me and wife want to buy a used (second hand) house for about 3 mln. She will pay 2 mln, I will pay the rest 1 mln ($30.000). For a simplicity we're going to buy for her name. Question - what's the easiest way to transfer money from my home account? Should I open an account in thai bank, transfer to the account, then transfer to my wife account? Or maybe transfer to my wife's account directly? Or use credit card when buying the house - she would transfer 2 mln from her account, I would pay the rest using my credit card?

Transferring the money directly into wife's account would be the easiest, no need to open an account etc.

Not sure how you envisage paying by credit card, people selling houses or real estate agents dont take credit cards. Even if you found a person that accepts credit cards (via a business maybe) they would certainly add the 2-3% fees to the amount you pay.

I transfer with USD check - name must match the Thai bank account exactly.  It costs about 500 baht (used to be 300) and takes about 45-50 days but avoids bank charges otherwise.  Not sure about other currencies.  

Whatever your nationality, the easiest way is a SWIFT transfer from your bank account to your wife's account.

 

Using a cheque (deleted) is laborious and time comsuming and not worth the meagre savings.

 

Highly unlikely anybody would take any sort of card payment for such a large amount.

12 hours ago, stapoz said:

For a simplicity we're going to buy for her name. Question - what's the easiest way to transfer money from my home account? Should I open an account in thai bank, transfer to the account, then transfer to my wife account? Or maybe transfer to my wife's account directly?

I would recommend you open your own bank account because if you ever want to take out money from Thailand, you’ll have proper proof that you transferred $30,000 into the country, which you wouldn’t have, if you transfer directly to your wife’s account.

14 hours ago, stapoz said:

For a simplicity we're going to buy for her name.

 

You realize, of course, that it's not just for simplicity?  That's the only way allowed by law.  Unless she buys the land and you buy the structure. 

 

BTW, I'd suggest paying for legal advice to make sure your method of getting the money to your wife isn't going to cause problems in the future, with her appearing to be your illegal proxy.  Keep in mind that things change, and just because something works today, doesn't mean it won't bite you in the ass in a few years' time.

 

 

If you are a US citizen and she has a Bangkok Bank account then you could just add her BB account to your US bank transfers via EFTS, (electronic funds transfer system)  depending upon the rules of your home bank you may not even have do a test deposit (if you do,  then sign up for BB's SMS notification system to provide you with the exact amount of the test transfers)

 

Since this is not for a foreign owned condo there is no need for a currency exchange certificate.  Since the land is not going to be in your name, then I don't understand all these posters concern about "source of funds".  Yes some land offices look askance at the source of funds for the purchase of land if the husband appears to be having an interest in it, but I don't know of any Thais that have to prove where they got the funds to purchase land in their names

 

But I am not married so there may be special rules for those married to a Thai that I am unaware of.  I did the above with BB and transferred funds for a new car to my girlfriend with no questions asked 

You can use Transferwise (dot com) to transfer to her Bangkok bank account directly. Fund will reach next day. You can use your credit card but your credit card company will charge it as cash advance and slap you with a cash advance fee and interest from day one (no grace period for cash advance). If you you use a debit card, you don't have to pay any cash advance fee or interest.

20 minutes ago, Langsuan Man said:

(if you do,  then sign up for BB's SMS notification system to provide you with the exact amount of the test transfers)

I did sign up for their SMS service but I never received the test transfer amount. I received all other transfer that I made through Transferwise. Does is show up online? I could not get my online account with BB because they said I could not  get online banking with a tourist visa. I am in the US now and planning to go to Thailand next week with a Non O-A and get the online banking.

4 hours ago, impulse said:

For a simplicity we're going to buy for her name.

Does she hold your last name, if so & your out of thailand, they may want you to sign the forms saying that you shall have no interest in said property

take out the million in cash and give it to your wife.

job done...lol

 

21 minutes ago, wombat said:

take out the million in cash and give it to your wife.

 

Would be simple, but there is a limit (small) when carrying cash into thai.

 

Quote

I would recommend you open your own bank account because if you ever want to take out money from Thailand, you’ll have proper proof that you transferred $30,000 into the country, which you wouldn’t have, if you transfer directly to your wife’s account.

That's important as probably, if we sell the home in future (maybe with profit) and buy another, I would like to send some money (if have) back to my country (Poland).

 

Quote

Does she hold your last name, if so & your out of thailand, they may want you to sign the forms saying that you shall have no interest in said property

Yes, she does, but why should someone want me to sign documents about our assets if we are married and not going to divorce? And who would have a knowledge about me, my wife, my assets when I leave thai? There are thousands of tourist leaving thai everyday...

 

I created this thread because not sure if someone, at some buying stage will require me to show any document confirming where the money come from. As I read in this forum, FETF is issued only when transferring more then $50.000.

 

Opening an account in thai bank and send by SWIFT then transfer to my wife's account seems to be the best option (except the SWIFT price).

For buying/selling purpose (and transferring a large sum of money) is the Bangkok Bank the most recommended bank?

I just cant believe some of the questions that are asked on thai visa

30 minutes ago, stapoz said:

That's important as probably, if we sell the home in future (maybe with profit) and buy another, I would like to send some money (if have) back to my country

 

Don't worry about transferring money back to your home country, you won't make any profit on a house... 

Actually some of the answers above are not that simplistic anymore.

Your wife may be asked at the land office these days how & where she earned the money .

For a house maybe not so bad, but my wife has been grilled buying land.

Fortunately when set things up 14 years ago where she gets a good salary & has been in HER bank for 

many years so the bank books proved her money over a long period

You could & probably will  be asked to sign a form stating that you have no interest ib the property.

This is becoming standard practice now to avoid legal hassles if you split up.

Then it would remain TOTALLY hers

Hey ! yes, Cornishcarlos, there are still dreamers.

43 minutes ago, stapoz said:

1 hour ago, wombat said:

 

Would be simple, but there is a limit (small) when carrying cash into thai.

It's very simple and the amount is not small at all. USD 20,000 or less (or equivalent in other currency) is free from any form of declaration. Anything above needs to be declared but that's it. There will be no import duties applied.

Customs Department

9 hours ago, impulse said:

 

You realize, of course, that it's not just for simplicity?  That's the only way allowed by law.  Unless she buys the land and you buy the structure. 

 

BTW, I'd suggest paying for legal advice to make sure your method of getting the money to your wife isn't going to cause problems in the future, with her appearing to be your illegal proxy.  Keep in mind that things change, and just because something works today, doesn't mean it won't bite you in the ass in a few years' time.

 

 

Well said.

For a simplicity we're going to buy for her name. 

 

ou realize, of course, that it's not just for simplicity?  That's the only way allowed by law.  Unless she buys the land and you buy the structure ??????????????

 

could buy it in a company name  ?

1 hour ago, stapoz said:

Would be simple, but there is a limit (small) when carrying cash into thai.

 

No there isn't...

https://www.bot.or.th/English/FinancialMarkets/ForeignExchangeRegulations/FXRegulation/Pages/default.aspx

 

c. Currency Regulations

1. Foreign Currency

Foreign currencies can be transferred or brought into Thailand without limit...

...Any person bringing into or taking out of Thailand Thai baht bank notes, foreign currency bank notes or negotiable monetary instruments in an aggregate amount exceeding 450,000 Baht or USD 15,000 or its equivalent must declare to a customs officer.

 

But I believe the amount over which a declaration has to be made has been increased to $20,000.

26 minutes ago, natway09 said:

Then it would remain TOTALLY hers

Ok we're drifting a bit of topic, but it's something that maybe required

I'm just going of my experience

First of all it will be 50/50 since bought during marriage

In my case wife bought house from developer (on finance ) from me

But when it was paid for & transferred from Developer to my Wife & Son I still had to sign the Simros/Simras form to acknowledge that I had no right to the property (land / house )

26 minutes ago, catman20 said:

For a simplicity we're going to buy for her name. 

 

Don't forget the Kwais, a truck, and a bike. And the hospital bills for brother and mom. 

Hi 

Money transfer is very easy, containing some risk.

If you'll follow safe way, Kindly open an account under your name. Transactions are safe.

Ask your wife to open an account in same bank, transactions are "quite" safe following this way.

 

You can open an account for ex in BKK bank, which not easy.

 

After that you can transfer by internet the lump of money to her.

 

With Kasikorn that would be easier, but their internet banking is very poor, just nothing

 

Good Luck.!

 

-brpeter-

Transfer the money into my account and I will hand it on to your wife, honestly ?

13 minutes ago, pekka said:

With Kasikorn that would be easier, but their internet banking is very poor, just nothing

Gotta disagree with you on Kasikorn internet banking.  I've found it to be easy to use and robust.  Some vendors don't take Kasikorn but that's nothing to do with the paradigm.

4 minutes ago, bankruatsteve said:

Gotta disagree with you on Kasikorn internet banking.  I've found it to be easy to use and robust.  Some vendors don't take Kasikorn but that's nothing to do with the paradigm.

 

 

+1

+2
What's wrong with it? I've used it for years with no issues. The phone app is great too.

Sent from my SM-G930F using Tapatalk

8 hours ago, onera1961 said:

You can use Transferwise (dot com) to transfer to her Bangkok bank account directly. Fund will reach next day. You can use your credit card but your credit card company will charge it as cash advance and slap you with a cash advance fee and interest from day one (no grace period for cash advance). If you you use a debit card, you don't have to pay any cash advance fee or interest.

I use TransferWise and they are pretty good.

 

Having said that, I have not had a next day completion and any time I've ordered on a Friday,

then the money doesn't arrive until the following Monday.

 

Also there is a £2000 limit on debit card usage, although that may be an unique requirement

for me.