Making large deposits.

[Scoobydoo1]

I need to make a deposit into a KBank account under my own name of around one million baht, over the next few days. I do not work here, have no work permit (do have a Thai wife and kids) so was wondering if this action might raise any flags with my bank or the Bank of Thailand. Basically it's money of mine that some family members just brought from the UK for me. Any advice would be appreciated, thank you.

[ezzra]

try to make smaller deposits if you are concern being flagged by the BOT, but as long as this money is not tainted in anyway, you have nothing to worry about...

[Ks45672]

You can deposit any amount in my experience..... 

If its over 5 million you have to sign an aml form in some branches but only takes a second to sign that

You don't even have to fill it in

[KhunBENQ]

My case is somewhat different:

Took out a million from SCB.

Walked over the floor in the shopping mall to Bangkok bank.

Put it on the desk, they unbundled, let their counting machine run hot.

No question asked.

 

Yes I know, it sounds like a nidicolous way to "transfer" money but at the time there was no other method that quick.

[Ks45672]

12 minutes ago, KhunBENQ said:

My case is somewhat different:

Took out a million from SCB.

Walked over the floor in the shopping mall to Bangkok bank.

Put it on the desk, they unbundled, let their counting machine run hot.

No question asked.

 

Yes I know, it sounds like a nidicolous way to "transfer" money but at the time there was no other method that quick.

That's still the best way of doing things

 

Cashiers cheque or a banking draft won't clear instantly at the other bank like cash deposit will

And there maybe a charge on both sides for the privilege of using the cashiers cheque and a delay before funds can be credited

[Maradona 10]

I remember reading a few years ago that any deposits of 2 mil up is reported to the AML office. Thailand is a cash economy so large deposits are hardly even met with a blink. Years back I deposited by memory around 2k in a UK bank,  I was asked where it come from etc, treated a like a criminal...i told the woman 'it's only 2k' whilst sporting a grin..she didn't like it.

[Ks45672]

1 hour ago, ezzra said:

try to make smaller deposits if you are concern being flagged by the BOT, but as long as this money is not tainted in anyway, you have nothing to worry about...

That will get you flagged even faster

Cartels used to get around the 10k aml laws by breaking lodgements into 8-9k bundles and they all got busted eventually 

[Scoobydoo1]

13 minutes ago, Ks45672 said:

That will get you flagged even faster

Cartels used to get around the 10k aml laws by breaking lodgements into 8-9k bundles and they all got busted eventually 

10k meaning THB?

[ThailandLOS]

1 hour ago, Ks45672 said:

That will get you flagged even faster

Cartels used to get around the 10k aml laws by breaking lodgements into 8-9k bundles and they all got busted eventually 

What "cartels" and where? We are in Thailand dude, nobody raises an eyebrow at a million THB deposit, or even consecutive ones.

[Jimbo1964]

Whoever brought the money with them should have reported it if over 20K USD. But you stated that some family members brought it in, so it should have been below the reporting limit. So hopefully you shouldn't have a problem if they do ask you where you got it from 

https://www.thaiembassy.sg/visa-matters-/-consular/bringing-currency-in-or-out-of-thailand

[Lacessit]

I doubt very much if it would be a problem. As other posters have said, Thailand is a cash economy. Just tell them you sold some gold if asked, all Thais that work in banks would understand.

[khunPer]

7 hours ago, Scoobydoo1 said:

I need to make a deposit into a KBank account under my own name of around one million baht, over the next few days...

To my experience up to a couple of millions baht in cash is now problem; however some banks only let you withdraw up to 1,999,999 baht in cash; however you can always give a 1-baht coin in exchange...?

[upu2]

I have made a deposit of 6 million Baht into Bangkok Bank and nothing was asked regarding it

[SCOTT FITZGERSLD]

to be sure, you better keep the money exchange receipts. 

the exchange reciepts (with name and passport number of the farang) can be

used as proof that the money came from outside thailand,

and not earned it by working without

a work permit.

 

 

[blackcab]

A million baht won't even raise an eyebrow. Unless it's all in 20 baht notes that is.

[oldrunner]

Have a TNB account and deposit 5500 US monthly for living expenses. No questions asked.

[jimmyyy]

I transfer in money all the time, never had a problem.  Wife sold some land to buy another piece a few years back, 7 million in cash no one at the bank even batted an eye at it. 

[Scoobydoo1]

17 hours ago, khunPer said:

To my experience up to a couple of millions baht in cash is now problem; however some banks only let you withdraw up to 1,999,999 baht in cash; however you can always give a 1-baht coin in exchange...?

Is 'now a problem', or ,no problem'?

[khunPer]

1 hour ago, Scoobydoo1 said:

19 hours ago, khunPer said:

To my experience up to a couple of millions baht in cash is now problem; however some banks only let you withdraw up to 1,999,999 baht in cash; however you can always give a 1-baht coin in exchange...?

Is 'now a problem', or ,no problem'?

Thanks for making me aware of my typing error, it's of course no problem...?

[SCOTT FITZGERSLD]

22 hours ago, jimmyyy said:

I transfer in money all the time, never had a problem.  Wife sold some land to buy another piece a few years back, 7 million in cash no one at the bank even batted an eye at it. 

as long as you keep the money coming into thailand, there is no problem.

to send it out from thailand - now that's a different story.