Transferring To Thai Bank

[niggle]

Have read about limits on transferring from UK bank to Thai bank - 30% holding tax by Thai.

I am planning to transfer 900,000 BHT from UK to Bangkok Bank. AM I better to do it in 2 transfers or would it be OK in a single transfer ?

[ajahnlau]

Have read about limits on transferring from UK bank to Thai bank - 30% holding tax by Thai.

I am planning to transfer 900,000 BHT from UK to Bangkok Bank. AM I better to do it in 2 transfers or would it be OK in a single transfer ?

Doesn't apply to private accounts.

[Luckydog]

Have read about limits on transferring from UK bank to Thai bank - 30% holding tax by Thai.

I am planning to transfer 900,000 BHT from UK to Bangkok Bank. AM I better to do it in 2 transfers or would it be OK in a single transfer ?

Just did that via Swift from my UK bank to Bangkok.

The Swift form has to be sent to your uk bank in the first instance.

They called me here in LOS twice to check that my request was Kosher.

In UK now they spell Thailand FRAUD!

[lopburi3]

First do not send baht - send foreign currency (UK Pounds in your case) or you will loose about 3% of value. Let the exchange to baht take place in Thailand at the Thai bank onshore rate.

I would make several transfers unless this is for condo purchase where you need the special paperwork. Normally if you advise the Thai bank the reason for the money they will not automatically transfer 30% but it is up to each bank how they treat it.

[phutoie2]

After reading many posts on swift transfers from the UK, I thought I would add my "two pence worth"

I sent off my completed swift transfer form together with a covering letter confirming where I lived, bank details and the reason for transfer, plus full contact address/e-mail/phone, to Nationwide Chaps department, head office Swindon (UK) on 18 April.

Yesterday after becoming a little concerned I telephoned NW number, its a call centre in Northampton, I later learnt that the "Swift" department do not take incoming calls.

Nationwide received my request on 27 April, but would not action it until they had personally spoken to me confirming some personal security questions.

On further probing they claim that they had tried to call me on my mobile number but without success etc.

Anyway all sorted now, but after keeping a "cool heart" I can understand Nationwides caution as far as Thailand is concerned. In the UK you have to present some form photo ID with your swift application at the bank counter, and when I was doing some work in Ramkhamhaeng, Bangkok in 2005 some nice person used my Nationwide credit card details to buy themselves a mobile phone!

So I will now always follow up a swift application with a telephone call, but to my local branch instead of a call centre. That call cost many baht!!

I hope this is of some use to any forum NW building society members.