Bangkok Bank Money Transfer Problem...

[Mumbo Jumbo]

To day I went to my Branch Of the Bangkok Bank,

To request an electronic transfer of money (600,000 BT)

To my UK bank, I was told that it was not possible

As I did not have a work permit, ( ive been on a Non ‘O”

Visa, with extension as married to a Thai) for 5 years now

and had my Bangkok bank account for that long.

The bank cashier said I would have to provide proof of

Where the funds came from, when I pointed out that

The funds came from my Bank in the UK and were

Transferred to my Thai bank over a period of time

Via electronic transfers, shown in my Bank book

She still maintained I had to show proof of where

The funds came from, I asked her would not the banks

Computer records show the past transfer details

Showing where the money came from (my UK bank account)

And the amounts involved …? And would not this be proof

Of the source of funds, She said that the bank’s computer

Records would not do as proof, and I would only be allowed

To arrange a transfer of money out of my Bangkok Bank

Account, if I provided her with an original document from

The senders bank (my bank) showing all the details Etc

As ive all ways arranged my bank transfers from my UK

Bank to my Bankok bank account here by sending my UK bank

A FAX, ive never received any paperwork from my UK

Bank relating to the transfers, only my Uk bank statement

Shows the transfer out of my account, but it does not show

Where it went to .

I was just wondering if any one had come across this problem at all

And can comment on it..?

Thanks ... Mumbo

[cclub75]

Your story is scary.

I never had this specific problem. I made many transferts, using friends, in and then out of Thailand. It was not BKK Bank and we had all work permits.

However, I would like to remind you the "golden platinium" rule regarding dealing with a thai bank : never, never, ever trust, nor listen, what an employee will tell you up front.

It's their speciality ("sorry, you can not do this because... thai central bank regulations").

I've heard this line dozen of time. And of course, it was... always a virtual regulation.

You must ask to talk to the manager (branch), and continue up if they follow with the same tune. And ask for a copy of the "regulation".

Edited May 4, 2007 by cclub75

[Mumbo Jumbo]

Thanks cclub75 for the comments, as i don't really know the regulations about transfering money

out of Thailand, I did not want to approach the Manager at this stage, hence my posting this

and may be getting some sort of feed back on the '' regulations on transfering money '' I did ask the

bank cashier what about me withdrawing the 600,000 Baht out in cash there and then , and then handing it back to her as a new deposit to be placed back into my account , then transferd out to the UK..? but it was again NO , as we dont know where you got money from .....

as you say .... never, ever trust, nor listen, what an employee will tell you up front.

I think is a golden rule , hopfully i can find out through this forum just what are the offical banking regulations about transfering money out of Thailand...?

one other thing i wondered about was using some thing like Western Union Money transfer, but they may also have some sort of rule about providing proof of where the funds you want to transfer out of Thailand come from ...?

Thanks Mumbo

[geoffphuket]

There are regulations regarding transferring money out of Thailand. From recollection, sounds like what the cashier was telling you is correct.

I haven't tried this, but how about getting a cheque made payable to yourself and sending it to your bank in the UK via TNT, UPS etc. - Doing it this way would take several weeks to clear, and I’m not sure if its cheating the system…..what do others think??

Edited May 4, 2007 by geoffphuket

[solo siam]

try a lower amount first, see if that will go through (like 180,000 baht)

[Mumbo Jumbo]

Thanks geoffphuket , may be that could work...? let's see what others forum members come up with,

Thanks .... Mumbo

[Mumbo Jumbo]

Thanks Ben, I had not thougth of that, but ive got a feeling if I go back and come up against the same

cashier ( which is very possible ) she will just say the same thing, where does the money come from.?

may be if no other way turns up I will give it a go, its a 4 hour trip to my bank, so i would like to

be fully armed with some offical info, or possibily another way to transfer the money...

Thanks Mumbo

[geoffphuket]

Thanks geoffphuket , may be that could work...? let's see what others forum members come up with,

Thanks .... Mumbo

I'd been giving this subject some thought recently because I might be in similar position in a few weeks.

The Bangkok bank cannot refuse to give you a cashiers cheque in your name, and I don't see how the receiving UK bank could refuse it. I think the only problem is the amount of time involved because it has to be returned to Thailand for clearance and apparently that can take 6 weeks - or more!

[Mumbo Jumbo]

Thanks again geoffphuket, So I ask for a cashiers cheque for 600,000 baht made out in my name ( they should not refuse me ) and I send it by post to my UK bank with a covering letter, then my Uk bank would send it back to my Bangkok Bank Branch for clearance , which could take 6 weeks or more,

I wonder if my Bangkok bank branch could ''not clear'' the cashiers cheque when they see it came from them in the first place, as the money used for the cashiers cheque was out of my Thailand account

( we cannot clear this cheque as we can't say where the money came from in my account )

just a thought ...?

Thanks .... Mumbo

[Pattaya_Fox]

Bangkok Bank have to inform the BOT (Bank Of Thailand) about a transfer out of the Kingdom for the amount which you want transferring.

One of the reasons for this is to ensure that the correct tax has been paid on the amount should the money have been earned in Thailand.

Therefore it is expected that the bank cashier would ask you for proof that the funds had originated from overseas.

Your overseas bank should be able to provide an itemised list showing the dates and amounts transferred into the Kingdom and to what recipient source.

[Mumbo Jumbo]

Thanks Pattaya Fox, would you know the minimum amount i could ask to be Transferred where by the bank did not have to infirm the BOT (Bank Of Thailand) ....?

Thanks .. Mumbo

[geoffphuket]

Thanks again geoffphuket, So I ask for a cashiers cheque for 600,000 baht made out in my name ( they should not refuse me ) and I send it by post to my UK bank with a covering letter, then my Uk bank would send it back to my Bangkok Bank Branch for clearance , which could take 6 weeks or more,

I wonder if my Bangkok bank branch could ''not clear'' the cashiers cheque when they see it came from them in the first place, as the money used for the cashiers cheque was out of my Thailand account

( we cannot clear this cheque as we can't say where the money came from in my account )

just a thought ...?

Thanks .... Mumbo

Good point Mumbo, we really need to hear from someone who's tried it......anyone??

[Tywais]

Might look at this page > BOT

Curious about item C. "No restriction is imposed on drawing funds from the accounts including conversion into foreign currencies for remittance abroad."

However it could be tied to item C. 1) proceeds from sale of foreign currencies that originate from abroad or foreign currencies from nonresidents’ foreign currency accounts.

Possibly contact the BOT and see what they say.

[cclub75]

There are regulations regarding transferring money out of Thailand. From recollection, sounds like what the cashier was telling you is correct.

No.

I think the confusion is coming from the buy/sale condo (proof of the money coming in to buy, then proof of taxes paids locally when resale in order to send the money out).

However, when you're a customer of a bank since 5 years, and that you just want to send back 600 000 THB in the UK, where the money came first... i'm sorry but i never heard that a work permit would be needed to do this operation !

[geoffphuket]

Thanks again geoffphuket, So I ask for a cashiers cheque for 600,000 baht made out in my name ( they should not refuse me ) and I send it by post to my UK bank with a covering letter, then my Uk bank would send it back to my Bangkok Bank Branch for clearance , which could take 6 weeks or more,

I wonder if my Bangkok bank branch could ''not clear'' the cashiers cheque when they see it came from them in the first place, as the money used for the cashiers cheque was out of my Thailand account

( we cannot clear this cheque as we can't say where the money came from in my account )

just a thought ...?

Thanks .... Mumbo

Good point Mumbo, we really need to hear from someone who's tried it......anyone??

Considering this further, once you've got the cashiers cheque, the money is no longer in your account, so it would clear from the bank's reserves. I can't really see a problem.

Why not get someone to telephone your bank and ask.... It would save facing the same cashier again!

Geoff

[Mumbo Jumbo]

Thanks geoffphuket, as you say may be its not a problem ''if'' the cashiers cheque actually goes back to the bank's reserves dept and not to my branch , where the cashiers cheque was frist made out, if it does may be my branch would pick up on it ...? who knows its a long wait ( apparently that can take 6 weeks - or more! ) to find out that the chashiers cheque has not been approved by my branch ...?

May be a call to my bank would shed some light on this, but from past experiances with calling any

Thai bank or business , what you are told over the phone is some times not true !! .

Thanks ... Mumbo

[IMA_FARANG]

To day I went to my Branch Of the Bangkok Bank,

To request an electronic transfer of money (600,000 BT)

To my UK bank, I was told that it was not possible

As I did not have a work permit, ( ive been on a Non 'O"

Visa, with extension as married to a Thai) for 5 years now

and had my Bangkok bank account for that long.

The bank cashier said I would have to provide proof of

Where the funds came from, when I pointed out that

The funds came from my Bank in the UK and were

Transferred to my Thai bank over a period of time

Via electronic transfers, shown in my Bank book

She still maintained I had to show proof of where

The funds came from, I asked her would not the banks

Computer records show the past transfer details

Showing where the money came from (my UK bank account)

And the amounts involved …? And would not this be proof

Of the source of funds, She said that the bank's computer

Records would not do as proof, and I would only be allowed

To arrange a transfer of money out of my Bangkok Bank

Account, if I provided her with an original document from

The senders bank (my bank) showing all the details Etc

As ive all ways arranged my bank transfers from my UK

Bank to my Bankok bank account here by sending my UK bank

A FAX, ive never received any paperwork from my UK

Bank relating to the transfers, only my Uk bank statement

Shows the transfer out of my account, but it does not show

Where it went to .

I was just wondering if any one had come across this problem at all

And can comment on it..?

Thanks ... Mumbo

1. Are you in BKK. You will probably need to go to the main Bangkok Bank branch in BKK. I think it is on Silom Road (?).

2. Be sure to bring your bankbook with proof of the incoming transfers to your account.

3. All transfers incountry to any Bangkok Bank branch are first cleared thru the main bank.

4. Be polite, and carefully explain what and why you need verification of the incoming transfers.

5. Once you can get them to agree, the data for incoming transfers is always entered into the computer database. If they are willing to check, it is there, at least for the last year or so.

6. If you can get someone at your branch to check (you may have to ask to see someone higher than the teller, like her/his boss.)

7. I thought I had a problem with monthly transfers not being properly credited into my account. The normal bank records will only show credits for the last three months, but I wanted to see incoming foriegn transfers for at least 6 months. It took time to get them to agree, but finally I did. The database can show incoming transfers for up to one year, but someone probably has to get the computer to spit out that information. Not all the branch tellers know how to do this, but as always in Thailand the "face" thing comes in, and the teller won't want to admit he/she doesn't know how to get the computer to do what you want. That is why the Bangkok main bank may give you better results than any branch bank.

Good Luck.

[Jingthing]

Are you talking about getting a cashier's check in UK pounds or baht?

[ballbreaker]

I use the Bangkok Bank located on Sukhumvit between Soi 8 and 10. Once upon a time I needed copies of incoming transfers to my account and was able to obtain from my branch. The people that dug it out of the computer were the same people that do currency exchange because they also happen to handle incoming wire transfers. I'm not talking about the tellers that you change foreign currency to baht but the ones you go see to change baht into foreign currency. In my branch they are on the second floor. I'm not sure how far back you need to go but they should be able to dig it out if you provide dates and where transfer came from.

Edited May 5, 2007 by ballbreaker

[soundman]

Instead of jumping through all those hoops with cheques & authorisations, withdraw the money in cash, place it in your Thai wife's (or Thai friend's) account, (different bank would be better) & then have her send it overseas. Much smaller commisssion & no hassels at all.

Cheers,

Soundman.

[Mumbo Jumbo]

Thanks for the replys...

I live out in the sticks and its a day's outing to go to my bank , but may be a trip to Bangkok may be required in the end..? , My wife has an account with Thai Farmers bank, and she will go and ask them on Monday morning about her transfering some money to the UK, I just wonder if as the amount to be transferd is large large ( and may be not normal for a rural Thai ) her bank may ask her '' where does the money come from'' ....? I will post how I get on going down this route..

Thanks .... Mumbo

[helitool]

Another possibility is to transfer your funds to Siam Commercial Bank and get a debit card tied to that account. According to the person who opened my account for me I would be able to transfer $5,000 per day from that account to any bank in the world. I haven't tried it myself, but its a thought. Also Bangkok bank has branches in other countries. What about transfering to one of their brances in UK etc. Also how much cash in dollars are you allowed to carry out of Thailand and into another country? I do not like BBB bank as they never seem to be very interested in helping their customers wereas SCB's main branch here in CM falls over themselves to make my life easier.

[thohts]

There's no problem here.

Just transfer 350,000 one day and then come back the next to do it again. I've done this a few times and they don't have a problem with it. (You can also try a different branch if you're afraid) Tourist visa no problem.

(maximum per time is 11,000 USD)

[Mumbo Jumbo]

Thanks Guy's for the replys , thohts I did ask the bank cashier at the time, what was the lowest

amount I could transfer from my account to UK, she said I could not transfer any amount with out proving where it came from first ... It seemed to me they either did not fully understand the rules

or were just blocking any thing i tried ...? as for trying another branch , in the past ive tried to

pay in a bank cheque made out to me, into another Bankok branch and I was told they would not accept the cheque as only my branch can accept or carry out any business transcations relating to my account ...?

thanks Mumbo

[pampal]

Take your money out of Bankok bank, get cash,Go to Chinatown to any travel agent and have them transfer it to the UK for you. Cheaper than any bank.

I've done it many times, never had a problem.

Also it'll get there the same day, no need to wait.

[geoffphuket]

Take your money out of Bankok bank, get cash,Go to Chinatown to any travel agent and have them transfer it to the UK for you. Cheaper than any bank.

I've done it many times, never had a problem.

Also it'll get there the same day, no need to wait.

Giving 600,000Bt.... in cash, to a travel agent is a good idea ?

[Mumbo Jumbo]

geoffphuket , that had crossed my mind too ....?

Mumbo

[teejay]

600,000 seems to be the limit for Bangkok Bank for transfers out of the money without asking questions and filling out papers. I've transferred 500K out many times without any questions, but the one time I transferred 1,000,000 they had me fill out a form and sign it (actually didn't even fill it out, just sign).

Try a smaller transfer of under 600k.

[chiang mai]

There is a long and well trodden thread on this subject in the business and economy section of about two months ago. In a nutshell, I had to get 4.5mill Baht out of the country following sale of my condo for which there was adequate proof of incoming funds yet the banks would not transfer the total amount. Answer is to go to Bangkok Bank, a major branch, and request a Sterling cashiers cheque drawn on Bangkok Bank London for an amount less than USD 20,000 and courier it to your home bank in the UK as a deposit - it will clear in three days. Do that as many times as you need.

[chiang mai]

Thanks Guy's for the replys , thohts I did ask the bank cashier at the time, what was the lowest

amount I could transfer from my account to UK, she said I could not transfer any amount with out proving where it came from first ... It seemed to me they either did not fully understand the rules

or were just blocking any thing i tried ...? as for trying another branch , in the past ive tried to

pay in a bank cheque made out to me, into another Bankok branch and I was told they would not accept the cheque as only my branch can accept or carry out any business transcations relating to my account ...?

thanks Mumbo

Understand the differences between a "Resident" and "Non Resident" bank account when you open one, you were asked the question at the time I would imagine. A "Non Resident" bank account does not accept deposits in Thai Baht because technically you do not live here, so how could you possibly ever have a deposit to your account in local currency! "Non Resident" accounts are intended for you to transfer large amounts of foreign currency into the country without too much of a free ability to transfer it out again!! "Resident" accounts behave like almost normal bank accounts but with the inevitable limitations. From my experience most, if not all bank cashiers and management staff understand very little about what is really required in the area of funds transfer and most seem to be worried that they may do something wrong and lose their job rather than alienate someone and lose a customer.

Edited May 5, 2007 by chiang mai