Bangkok Bank Money Transfer Problem...

[stonybonytony]

The first time I transferred money to my Thai bank, I asked for an 'Exchange control form' (though I did this mostly by sign language and pidgin English, but they appeared to know what I was talking about). In theory, this proves the money came in from abroad and should allow you to export it again without paying tax or worrying the cashier. I've not asked for one since, as I assumed they could produce them whenever I needed them, if I ever needed to take the money back out of the country again. Maybe I should have got one each time, if they won't accept your bank book as proof the funds came in from abroad!

I'll see if I can find it, to tell you what it's called in Thai - if your bank could produce these for you, this may solve the problem (or at least if you ask for them in future it may stop the problem in the future - sorry if it's too late to be of help in this case).

[stonybonytony]

I think it's a Thor Tor 3 form, the exchange control thing.

[Mumbo Jumbo]

Thanks Guy's for the info, now have some ways to possibily go , I will post how I get on

Thanks ...... Mumbo

[thohts]

keep in mind that you will probably have to go to the province or city of your original bank account opening to get the exchange control form.

When I wanted to transfer money they told me I had to go to Chiang Mai to get the form from the original branch (not convenient), so I just did multiple transfers under the limit.

Again, the guy at the bank said there's no problem with doing it. Just a regulation if it's over the limit per instance.

[Mumbo Jumbo]

Well to day the wife went to her bank ( Thai Farmers bank ) and asked to Transfer money

From her account to my UK bank, this was just a test to see what the bank would say

If they said OK then I would deposit the 600,000 Baht in my wife’s account

And then she would transfer it to the UK.

Well the bank clerk told my wife that the bank could not arrange any transfer of money

From her account to any foreign bank with out her supplying evidence of what the money to

Be transferred was for, and that there are restrictions as to where the money would be allowed

To be transferred to , such as paying for education fees abroad, would be allowed but any

Transfer without a documented reason that does not meet the banks criteria would be

Rejected, it seem’s that if you want just to send money abroad to a relative Etc , according

To the bank clerk, it would be rejected; the clerk also said that the regulations applied to

Any amount of money you tried to transfer..?

Although I was not there when my wife asked the questions ( I thought it best to keep

A low profile and stay away) I have a feeling that the bank clerk was in some way

Just making it difficult and may have not known the real bank procedure.

Well its back to the drawing board and try another approach, I will post

How things progress.

Mumbo

[sonicdragon]

I haven't read the whole of this thread - just the last few posts - but I would not be surprised at all if the clerk your wife spoke to was wrong. I'm sure there is a requirement to document what the funds are to be used for, but I don't think they will reject transfers to overseas friends and relatives. Maybe they want to document the stated use for international money laundering cooperation.

I would ask your wife to go back and ask for a written copy of the regulations the clerk mentioned.

[Mumbo Jumbo]

Thanks sonicdragon I think you are right and the bank clerk just did not know

About the rules Etc, my wife did say to the clerk can I send money to my friend

In the UK, No Etc was the clerk’s answer and I think she would get the same reply

If she went back to her bank, which I think just puts people off some times with

Any answer they can think of, so I am now looking at other ways to send the money

To the UK as discussed in the rest of this subject. I will post how I get on, just one point

I forgot was the bank clerk did suggest to my wife she may want to try the Post Office

Who have a Western Union facility, but just the thought of handing over all that money

To my local post office makes me shudder! And surely if the Bank want proof

Then the Thai Post Office will as well …

Mumbo

[Firefan]

In Thailand one often get this kind of "run-around" by banks as well as other institutions. Front staff does not know rules for sure and will therefore avoid the job if possible.

Trying to arrange wires IN at above $20k and thereby obtaining the TT3 (now called certificate of foreign currency transaction) is probably the best advise to give. Even THEN I can imagine the problems if the ORIGINAL TT3 used for condo purchase - and one then try to transfer profits out after sale (despite having paid taxes on it Etc.).

In the OPs case I would look into converting it to USD/GBP or whatever and hand carry it out, or use Western Union.

Cheers!

[Firefan]

BTW The rules you mention sound like the rules required for ONLINE BANKING (at least according to BKK Bank rules) transfer. Ie.:

1. education payment (typically for Thai children studying abroad)

2. family support (again; focused on Thais)

and a 3rd one I do not recall.

They require proof of funds - where a work permit and decent salary proof is enough. Your case is naturally a bit diff.

Cheers!

[Mumbo Jumbo]

Firefan, thanks for the comments ... I thought about trying Western Union , but not ever

using it, I wonder just how safe it is..? , and if they also have some sort of rules about the

amount you are allowed to send out of Thailand ...?

Thanks Mumbo

[Firefan]

Afaik Western union is quite a bit more expensive but requires much less info Cheers!I would not worry about safety with western union> Cheers!

[thohts]

All of this is totally unnecessary. Just follow the steps I outlined above

[Firefan]

Thohts; but the OP already HAVE the money here and no TT3 doc. Probably too late to obtain that, and even if NOT too late, the amounts that were wired in might not have been above $20k/time wherefore he can not obtain the TT3(CFCT).

Finally even WITH the TT3 there is VERY little info about being allowed wires out of the country of money earned here without having a work permit to prove the origin. If you had experience with it I would love to hear more.

A sales contract of a condo with proven transfer taxes paid might do it together with the TT3 though. The TT3 ORIGINAL will however be kept by the land office (when one bought) - so only a COPY of same is available upon wanting to transfer money out again - and you can imagine what the sweet bank girl will ask for, at least if you have lived here for a while.....

Right? Or am I missing something? Cheers!

[thohts]

Yes, I know.