Etirement Account, Topup With Foreign Currency Travels Checks?

[pcruzer]

since the in country exchange rate is better then the foreign rate can you add funds to your retirement account with travelers checks purchased outside of thailand? what documentation is required?

[pcruzer]

since the in country exchange rate is better then the foreign rate can you add funds to your retirement account with travelers checks purchased outside of thailand? what documentation is required?

[Jingthing]

Not sure, but this isn't really a problem to wire in money in your home country currency (assuming its a major currency). Then the the funds are converted into baht by your Thai bank.

[Krub]

since the in country exchange rate is better then the foreign rate can you add funds to your retirement account with travelers checks purchased outside of thailand? what documentation is required?

The cheaper way is to wire your own currency to Thailand. Your Thai bank will then convert it at the in country rate which is better.

[lopburi3]

When and if they look for documentation they want to see wire transfers as most passbook savings account will notate that and bank has records that can be copied/checked. When you transfer foreign currency to Thailand you receive the Thai exchange rate so you gain nothing by using travelers checks in that regard.

[pcruzer]

When and if they look for documentation they want to see wire transfers as most passbook savings account will notate that and bank has records that can be copied/checked. When you transfer foreign currency to Thailand you receive the Thai exchange rate so you gain nothing by using travelers checks in that regard.

thanks.

i was misinformed thinking the currenxy was converted to thai baht before transfering

[lopburi3]

It can be so you want to make sure that it isn't. My bank never even asks and always sends USD but some will ask and then you have to tell them to send the foreign currency. I do not believe they can legally make exchange without your OK as long as you specify the amount in your foreign currency.