Transfer money to Thailand

[JOHN CHAN]

Hi

I hold UK passport on retirement visa and annual extensions.

My late sister had left me some money through a lawyer who is going to remit the sum of a few million bahts to my account in Bangkok.

I have heard that it is necessary to fill out a form from my bank and notify Bank of Thailand which can only "free" the money from my account after some time.

Does anyone have this experience? I am not investing in any business or buying a condominium with the money.

Many thanks.

John Chan

[wgdanson]

3 minutes ago, JOHN CHAN said:

I am not investing in any business or buying a condominium with the money.

I would have thought that a normal Swift transfer would do it OK, or maybe do it in a few goes. Transferwise is not economical over about 7000 quid.

[JaiLai]

nothing is required, just your account details

[OneMoreFarang]

FYI - from the Kasikorn Bank:

 

Note:

• If the amount received is less than US$20,000 or the equivalent in another currency, the bank reserves the right to deposit the money into the destination bank account immediately without notifying the client
• If the inbound money is US$50,000 and above or the equivalent in another currency, the transferee must submit an Application Form for Foreign Currency Transaction and supporting documents, depending on the purpose of the transfer, at a K-Bank branch or international trade service center nationwide
• The bank may request additional documents from the transferee, whereby the transferee is allowed 10 working days to submit such documents at a K-Bank branch or trade service center. Otherwise, the bank reserves the right to stop the remittance into the transferee's bank account, and the funds will be remitted back to the overseas origin bank
•  

https://www.kasikornbank.com/en/personal/services/payment/Pages/inward.aspx

[Pib]

Once the money arrives your Thai bank acct just go to your bank and request a Foreign Exchange Transaction (FET) form.  That will document the transfer and also allow you to transfer that amount out in the future if desired.    Heck around 11 years ago I SWIFTed over $200K to from the US to Bangkok Bank in preparation for buying our home....Bangkok Bank immediately posted it to my acct...funds were available immediately...but I still went in and processed a FET to have proof the funds arrived from overseas and in case I need to repatriate the funds in the future.