Transferring money out of Thailand to USA help

[BobTH]

I will be moving back to the USA in 2019. I have been on a retirement extension 7 years here with no Thai income. I have documentation of sending the money to Bangkok Bank here and I am aware that transfers to the USA over $50,000 require reporting and so I will be making 2 transfers to the USA, each under that amount. I will go to the Bangkok Bank head office on Silom Road in Bangkok, second floor. I know sending money to Thailand you want to leave it in your home currency and convert to baht here. Is it the same going out? Should I try to send it to my USA bank in baht or dollars? I just wanted to ask if anyone has done this and be prepared if asked when I go to make the first transfer in the next week or so. I am planning on doing the transfers at Bangkok Bank because that is where I have the documentation of it being sent and assume that the best to send it back, if anyone know of a better way please let me know. I should also mention that when I transferred the money into Thailand I used my bank in the USA and wired the money to the Bangkok Bank New York branch to be deposited into my Bangkok Bank Thailand account.  Thanks in advance. 

Edited December 31, 2018 by BobTH
Add Bangkok Bank New York information.

[GinBoy2]

If when you transferred the money in, you should have an FET. If that the case you can transfer out anything up to that amount without issue.

 

As a general rule always transfer money out in the currency of the outgoing country, and let the transfer bank do the fx

 

[topt]

OP if you have problems with the bank (and I hope you don't) maybe worth looking at DeeMoney - been several threads on here and @Pib did a good write up on actually going through the process.

[KhunBENQ]

2 hours ago, topt said:

een several threads on here and @Pib did a good write up on actually going through the process.

https://www.thaivisa.com/forum/topic/1067993-my-experience-using-deemoney/

 

[moonseeker]

Any BKK branch will wire up to 1.5 Mio with a few weeks between transfers with a simple form. Never had any questions asked. Fees now, incl. both ends are 1,250.-

You need to send US$ which are changed at a reasobable good rate at time of transfer. Never send Baht abroad. You will loose several % due to terrible exchange abroad. Bring your passport, IBAN, Swift etc. and address of your bank. Happy New Year. MS>

[Kurtf]

Why couldn't one just get a certified check and take it to any bank in the US you want and deposit it? Or perhaps deposit it all into your Bangkok bank account and go to the NY branch and withdraw it all?

 

 

Edited January 1, 2019 by Kurtf

[wpcoe]

11 minutes ago, Kurtf said:

Or perhaps deposit it all into your Bangkok bank account and go to the NY branch and withdraw it all?

My understanding is that the NY branch of Bangkok Bank is not a retail office, i.e. they do not deal with the public directly, only commercial transactions.

 

I'm curious about the certified check, too.  Can Bangkok Bank issue a certified/cashiers check in USD?

[PETERTHEEATER]

 I have an FCD account in Sterling with Bangkok Bank into which my pensions are paid. You would think that you could do an Outward Remittance in the same currency and just debit the account plus charges but no, you have to change the FCD currency into Thai Baht then use Thai Baht to 'buy' the Outward Remittance currency!

[LucysDad]

4 minutes ago, PETERTHEEATER said:

 I have an FCD account in Sterling with Bangkok Bank into which my pensions are paid. You would think that you could do an Outward Remittance in the same currency and just debit the account plus charges but no, you have to change the FCD currency into Thai Baht then use Thai Baht to 'buy' the Outward Remittance currency!

 

 

Moving off topic perhaps....... but I have a Sterling FCD with BKB - I don't use it present as I prefer the greater flexibility (and cost-effectiveness) of Transferwise.

[BobTH]

23 hours ago, KhunBENQ said:

https://www.thaivisa.com/forum/topic/1067993-my-experience-using-deemoney/

 

I like what I read about deemoney. I think I will open an account with them, do a trial transaction and go on from there. It appears more cost effective than the Bangkok Bank option. Thanks for the informative link to their website. And thanks to Pib also for the write up.  

[KhunBENQ]

39 minutes ago, BobTH said:

Thanks for the informative link to their website.

No credit to me. Just looked up the contribution of Pib.

Unfortunately they don't seem to transfer Euros (yet).

 

[natway09]

Never, ever send Thai Bht offshore. You will get robbed blind at the receiving end

[chicowoodduck]

I was in a similar situation this month...after 14+years in LOS, got tired of all the BS and jumping through the hoops, just went to the bank and loaded up my suitcase and headed to Suvarnabhumi.....easy peasy.....just like when I arrived so many years ago....????????. Never looked back or shed a tear......????????

[Wake Up]

On 1/1/2019 at 10:22 PM, chicowoodduck said:

I was in a similar situation this month...after 14+years in LOS, got tired of all the BS and jumping through the hoops, just went to the bank and loaded up my suitcase and headed to Suvarnabhumi.....easy peasy.....just like when I arrived so many years ago....????????. Never looked back or shed a tear......????????

Hey that’s my suitcase ???????????????????? I left it in a Bangkok taxi. 

[chicowoodduck]

5 hours ago, Wake Up said:

Hey that’s my suitcase ???????????????????? I left it in a Bangkok taxi. 

Well, you snooze, you loose.....????