Transferring large amount of money outside of Thailand

[MattT1981]

I have recently sold my condo and vehicle in Chiang Mai and will move back to the UK. What is the best way to transfer approximately THB1.5 million offshore? 

[metisdead]

Moving to the Banking forum for knowledgeable advice. 

[Grumpy John]

I am interested to know too!  My only experience with transferring large sums is into Thailand where they become small sums of money all to quickly! ???? That was my first 4 years in Pattaya......transfers are far less frequent now.  ????

[topt]

Bank to bank by Swift - presuming you have the relevant form data showing original import of the funds from abroad?

[Dazinoz]

I have used DeeMoney to transfer to Oz but only small amounts of 50k at a time but that was due to my bank's limitations sending money to DeeMoney. I think you can send 800k at a time through them.

[keithcresswell]

According to Kbank you can send up to 1.5m baht per day, you have to do it in branch. I haven't done it myself yet but hope to be in a position to in the near future.

[Don Mega]

23 minutes ago, Dazinoz said:

I have used DeeMoney to transfer to Oz but only small amounts of 50k at a time but that was due to my bank's limitations sending money to DeeMoney. I think you can send 800k at a time through them.

Deemoney does not transfer to the UK so is of no use to the OP.

[jaiyen]

But do any of them give a good exchange rate ?  I need to send a lot to Australia in the new year, dont want to lose thousands in the exchange. If so I will bring it in cash

[ezzra]

The latest on sending money overseas following a sale of a property,

apparently, it is possible to remite the full amount by way of a bank draft, ( will take up to 3 weeks to clear) all that needs to be done is to show the relevant and true land department showing the sale amount that you have sold a property, and according to BKK bank, you can remite the full sale amount back home regardless what is your TT3 says...

[Dazinoz]

20 minutes ago, Don Mega said:

Deemoney does not transfer to the UK so is of no use to the OP.

Sorry for trying to help.

[xylophone]

8 minutes ago, ezzra said:

The latest on sending money overseas following a sale of a property,

apparently, it is possible to remite the full amount by way of a bank draft, ( will take up to 3 weeks to clear) all that needs to be done is to show the relevant and true land department showing the sale amount that you have sold a property, and according to BKK bank, you can remite the full sale amount back home regardless what is your TT3 says...

Yes, way back in 2011 I transferred 4 million baht back to NZ after the sale of my house here and I wanted it done quickly and hadn't kept/hadn't been given any of the documentation which showed its transfer into the country a few years previously.

 

So I invested it in a government bond here for the grand period of one week and then cashed it up and sent the money back to NZ..........that satisfied the bank and the government from whence the money had come!

 

I think it's a lot easier now as others have mentioned.

[Fairynuff]

When I last sent money I was told by my bank that under 1m no need for any docs. When I was transferring above that amount the sales contract was enough.

[kevinmartyn]

That is not so large and should not be an issue

[Max69xl]

On 11/9/2019 at 10:34 AM, Grumpy John said:

I am interested to know too!  My only experience with transferring large sums is into Thailand where they become small sums of money all to quickly! ???? That was my first 4 years in Pattaya......transfers are far less frequent now.  ????

Everything depends on what thai bank you have. The money has to be foreign to start with,and visiting your branch is almost always a must. Kasikorn Bank just started with International transfers using the mobile app K+, but it's not possible to send money to every western country,yet. They said that they will add keep adding countries.

[Thomas J]

On 11/9/2019 at 10:12 AM, MattT1981 said:

I have recently sold my condo and vehicle in Chiang Mai and will move back to the UK. What is the best way to transfer approximately THB1.5 million offshore? 

Matt1981 if you are a foreigner you should have no problem going to your Thai bank and having it wired transferred to your account in your home country.  In terms of the exchange rate, you can inquire as to whether you want the wire transferred in THB and then converted by the receiving bank or vice versa.  You can also check with transferwise to see what they would charge. I know they transfer money into Thailand, I am not sure about transferring out. 

[RedPill]

10 minutes ago, Thomas J said:

I know they transfer money into Thailand, I am not sure about transferring out. 

That never has been a problem overall ????

 

 

[Max69xl]

26 minutes ago, Thomas J said:

Matt1981 if you are a foreigner you should have no problem going to your Thai bank and having it wired transferred to your account in your home country.  In terms of the exchange rate, you can inquire as to whether you want the wire transferred in THB and then converted by the receiving bank or vice versa.  You can also check with transferwise to see what they would charge. I know they transfer money into Thailand, I am not sure about transferring out. 

No outbound transfers with TransferWise. Yet. 

[metisdead]

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[kwonitoy]

On 11/10/2019 at 11:34 AM, ezzra said:

The latest on sending money overseas following a sale of a property,

apparently, it is possible to remite the full amount by way of a bank draft, ( will take up to 3 weeks to clear) all that needs to be done is to show the relevant and true land department showing the sale amount that you have sold a property, and according to BKK bank, you can remite the full sale amount back home regardless what is your TT3 says...

Mostly correct

Sold a condo in Jomtien for xx,xxx,xxx baht

Cashiers check deposited in my account Sept 17, must wait 1 day for funds to clear

Sept 18 show land department documents of sale price and transfer tax being paid, at bank

Have passport, IBAN number of your account, SWIFT number of your bank

Now wait while they fill out the paperwork (4 hours for me, with lots of phone calls to Bangkok)

Transfer complete and in my offshore account Sept 19