Thai Bank Account for Foreigner: Internal Transfer Only is Standard?

[Dragonboat Ronin]

I recently got a bank account at a local  Krungsri branch (Si Sa Ket) but was told i would only be able to transfer funds in. So apparently i can transfer funds from abroad to my account here but cannot transfer funds from here out. Normally i wouldn't go for this but out of the 4 major banks in town they were the only one willing to give me an account. Wondering if others experience similar; if this is standard practice in Thai banks or is unique to my branch. Thank you folks.

Edited December 2, 2020 by Dragonboat Ronin

[allane]

In 25 yrs. here, I've never heard of an absolute prohibition on a foreigner transferring funds out. What is your current Immigration status ? Do you have a Work Permit ?

[dabhand]

If you are stuck and  need to transfer funds out of Thailand maybe look at using DeeMoney, if the destination country is supported by them. The transfer from your local bank to DeeMoney would be classified as an internal transfer so should not be a problem.

 

Plenty of information on the forum on setting up and using DeeMoney.

 

 

[Dragonboat Ronin]

28 minutes ago, allane said:

What is your current Immigration status ? Do you have a Work Permit ?

on amnesty after arrival as tourist. 

Dabhand, thanks for the info; i hadn't heard about DeeMoney.

[allane]

- Tourists are not permitted to open bank accounts

- those working or living here long-term need to show some evidence of that

- so the restriction is not on the account per se, but on you.

[Dragonboat Ronin]

6 hours ago, allane said:

- Tourists are not permitted to open bank accounts

Thanks allane; i guess that expains why other banks said no. I'm surprised they let me do it at the Krungsri branch tho. If my status changes from tourist to a more legit visa, do you know if that might change the restrictions on me? Salutes.

[Dogbarker]

Some other banks do not allow transfer out of Thailand simply as they do not have swift or other facilities. TISCO is a good example. I found when standard chartered Bank sold their retail business to them a few years ago... ( Never forgiven standard chartered for that !!)

[henry15]

With the Kasikorn KPlus app you can transfer money abroad in about 15 seconds

[jackdd]

Afaik Thai banks only allow transfers out of Thailand if you have a work permit. Do you illegally work in Thailand, or why would you need to transfer money abroad?

But you could either use a service like Deemoney, which might even be cheaper, or just transfer the money to a Thai person (or foreigner with work permit) and let them transfer it out of Thailand.

 

17 hours ago, allane said:

- Tourists are not permitted to open bank accounts

- those working or living here long-term need to show some evidence of that

- so the restriction is not on the account per se, but on you.

That's wrong

Edited December 3, 2020 by jackdd

[Srikcir]

Check with Western Union Online

 

[DFPhuket]

For international transfers, I agree that Dee Money is a better, cheaper, and usually faster option than doing a bank to bank transfer. I'd suggest you go ahead and set up an account with Dee Money now (you should be able to connect your bank account to it) so you have that as an easy option for transferring money out of Thailand.  

[LivinLOS]

Thailand has long controlled the outflow of funding, doubly so from those it deems may be tax avoiders (farangs not paying capital gains on the sale of a property, working illegally, etc) and to be fair, the only people I know sending funds out have been exactly that. I hear in the old days (80s or so) you couldnt even leave the kingdom without a tax clearance at the airport !! 

 

These days you can send out large lumps by showing the tortor3 or FETF inbound fund remittance paperwork, a work permit / tax history, or small amounts pretty easily with some banks, my Kasikorn has it in both online and mobile banking as an option limited to I think 50k usd. 

 

 

[jomtienisgood]

21 hours ago, Dragonboat Ronin said:

I recently got a bank account at a local  Krungsri branch (Si Sa Ket) but was told i would only be able to transfer funds in. So apparently i can transfer funds from abroad to my account here but cannot transfer funds from here out. Normally i wouldn't go for this but out of the 4 major banks in town they were the only one willing to give me an account. Wondering if others experience similar; if this is standard practice in Thai banks or is unique to my branch. Thank you folks.

My experience being: if funds arrive from abroad you can transfer to anywhere abroad as well. SCB & KBank..At main Branch they told me if only domestic money coming in, not possible?????

[Eugene art]

I am a Canadian in Thailand working in the middle east and have a krungsri bank, I get my money sent to my usd account and the transfer anywhere I want outside, never had an issue, very good bank for me

[gamini]

It really depends on who you and the relationship with your bank. I got a real credit card from Bangkok Bank without any collateral because I had a long relationship with them. I was also friendly with the current manager.

[JimmyJ]

22 hours ago, allane said:

- Tourists are not permitted to open bank accounts

 

 

False.

 

 

 

 

[PDPA2024]

My understanding is that tourist can do a SWIFT transfer, but it'll be processed manually, and you may need to provide documentation, unless you're sending money to close relatives. That's why it's usually disabled in the banking app. I never tried it though.

 

For those with work permit, the rules are more flexible, since they're allowed to send earnings back home.

[daejung]

On 12/2/2020 at 8:55 AM, allane said:

- Tourists are not permitted to open bank accounts

- those working or living here long-term need to show some evidence of that

- so the restriction is not on the account per se, but on you.

I did open an account at Bangkok Bank 2 years ago without any visa, only staying for 2 weeks with visa exemption

[Dragonboat Ronin]

13 hours ago, jackdd said:

Do you illegally work in Thailand, or why would you need to transfer money abroad?

Thanks Jackdd. I don't work here aside from girlfriend's farm (for free). I don't actually have a pressing need to transfer money out; just wasn't sure i wanted it to be a one-way street where i could only transfer in (i like to be prepared for anything and have all available options). Cheers folks.

[sometimewoodworker]

On 12/2/2020 at 2:55 PM, allane said:

- Tourists are not permitted to open bank accounts

- those working or living here long-term need to show some evidence of that

- so the restriction is not on the account per se, but on you.

There is no prohibition against someone on a tourist visa opening an account (but many branches say there is).
 

Go with a Thai who has a good relationship and you will have a better chance.

[sometimewoodworker]

On 12/2/2020 at 1:07 PM, Dragonboat Ronin said:

I recently got a bank account at a local  Krungsri branch (Si Sa Ket) but was told i would only be able to transfer funds in. So apparently i can transfer funds from abroad to my account here but cannot transfer funds from here out. Normally i wouldn't go for this but out of the 4 major banks in town they were the only one willing to give me an account. Wondering if others experience similar; if this is standard practice in Thai banks or is unique to my branch. Thank you folks.

It is your branch. If you have proof of a transfer into Thailand you can transfer the same or smaller amount out, this is for large amounts, for smaller amounts there are a few different ways.
 

If working here you can certainly transfer money  out.