Need Explaination On The New 30% Foriegn Transfer Law

[rudolf von hamburg]

I am not a regular reader of Thai news or Thai forum. So I did not know what is going on except I knew there was a military coup last year. I just came to Thailand with my Thai wife a few days ago and this time we want to stay for 2 -3 months in Thailand before we go back to Malaga where we presently stay now. Before we came Thailand, I wired 35,000 Euros to here from Germany. I intend to give her family 15000 euros for a gift to buy more lands for agriculture. And 20000 euros for our 2-3 months travel and living expenses and take the remaining home.

I went to checked my bank balance to see if the money is in. The money is already in my Bangkok Bank. And then some Thai old timer in my service apartment just told me something about the 30% of the money the Thai government will take away from me for a year. He said the money is in my account but the government will lock 30% of it to keep for themselves. I am totally shocked to speechless and totally confused about what he told me. The money is in my account already but the government will lock 30% and keep for themselves under some new rule.

I just cannot comprehend that the money is already in my bank account and according to my friend he said the government of Thailand will lock and take away 30% of it for a year? So if that the case, the Thai governments is running and managing our private bank accounts?? need some other Thai old timers to explain. My wife has absolutely no clue about what this Thai old timer just told us.

[backflip]

If the money is in your account, why are you worried? If the money isn't in your account, THEN you should be worried.

[Maestro]

If Bangkok Bank had applied the 30% reserve requirement then only 70% of you inward remittance would have been credited immediately to your account. Now that the full amount is in your account you are free to use it as you please.

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Maestro