Repatriating cash.

[tgeezer]

Is it a simple procedure do you think, to transfer the 800,000 THB from a Bank in Thailand to a UK account if the account holder is in the UK? 
 

[metisdead]

Moving to the Banking forum. 

[MarleyMarl]

Yes, easy if you have a work permit and Thai bank already.

 

I recently went through this process to add my home bank account to the list of international accounts I can transfer to within my Thai internet banking, I had to send them copy of my work permit, visa, passport and fill out some form, along with a bank statement of my home account to show I was the account holder.

 

If you don't have a work permit could be tough, Thailand is a strange country compared to many others, they're very strict on trying to keep as much money in the country as possible by the looks of their policies and how those forex exchange services can't operate here.

[PETERTHEEATER]

The Bank of Thailand restricts the amount that can be transferred daily to a foreign account. Register for Internet access to the senders account. Fill out the details of the initial transfer for an amount just under the maximum permitted and transfer it. Repeat this every 24 hours until you have txd the total amount. The system records the details of the first transaction so that it is easy to make subsequent transfers. Avoid asking your local bank who will usually tell you it cannot be done. Make sure you have all the required bank codes for the recipient  account. You will need to state a reason for each transfer. I stated ' Purchase of property' on each of my txs. You will need to check the daily foreign exchange rates to ensure you do not exceed the daily maximum in Thai Baht or the system will reject it. Check the BoT website for the max daily amount for an individual. I think its about ThB 1,000,000

[natway09]

Go to your bank's HO & explain.

Good chance you will be OK with a small amount like that.

I suggest change to sterling here 

The banks in the UK hate Baht (if they even know what they are) & will give you a dismal rate

[jackdd]

Three answers and nobody did read the short OP properly?

OP said the account holder is not in Thailand, so how is he supposed to register for anything or visit a bank branch?

 

Do you have online banking? If not there is probably no way to do it without being in Thailand.

If you have online banking just try to transfer it, in case it's working: Good. If it's not working you could potentially transfer it to somebody else in Thailand (if you have somebody who you trust with 800k and who is either Thai or has a work permit) who could then transfer it abroad.

[tgeezer]

Well done!  So not straightforward at all for me. Since the Wuflu has prevented mine and probably other people's annual winter sojourn in Thailand I was just wondering if a discussion would be useful.  In fact the bank interest in Thailand at 1.5% compared with England .01% which makes leaving it there more sensible. It has been my routine to escape the cold for five months for the past fifteen years during which time the sterling value of that money has increased by about five thousand pounds also!  Thailand seems uninterested in us any more and the NWO doesn't look likely to encourage freedom of travel for any but the oligarchs so I may be forced into some arrangement if I need the money. 

[jimn]

I go back to the UK every summer. You can transfer the money to my Thai account and I can take back to the UK for you.

[Heng]

There's always crypto and you don't have to ask anyone's permission that way.   

[HighPriority]

13 minutes ago, Heng said:

There's always crypto and you don't have to ask anyone's permission that way.   

Not sure he was looking for a punt in the lottery...

 

Why are all the crypto guys like born again Christian used car salesmen ?

[keithcresswell]

If you have Kbank and have their app you can transfer the money to your UK account with it.

[sapson]

12 minutes ago, keithcresswell said:

If you have Kbank and have their app you can transfer the money to your UK account with it.

 

Can you change to GBP here for a much better rate and have the stirling amount transferred to a UK account using your Kasikorn account or do you need to open a GBP account with them as well?

[Heng]

3 hours ago, HighPriority said:

Not sure he was looking for a punt in the lottery...

 

Why are all the crypto guys like born again Christian used car salesmen ?

 

Yeah, I didn't say he should invest in crypto.  Simply to use it to move his funds from point A to B.  hint: don't use any of the cryptos that 'swing'

[impulse]

What's the OP's visa/WP status?

 

I don't pretend to know the rules, just what happened to me.  When my contract ended and WP expired, I was no longer able to transfer funds from my K-Bank account to overseas.  Lengthy discussion with the branch manager, and it's a Thai law as opposed to a bank policy.  No-can-do on a tourist visa or visa exempt.  I didn't ask whether it's possible on other long term extensions like marriage or retirement because that wasn't my situation.

 

Cautionary tale: before you change visa status, make sure you understand how it's going to affect your ability to move any funds out of the country.  I can see where that may bite a lot of guys whose visa status has changed as a result of being stuck outside the country.

 

 

[NoshowJones]

12 hours ago, keithcresswell said:

If you have Kbank and have their app you can transfer the money to your UK account with it.

When you are in the UK?

[Cricky]

On 1/14/2021 at 12:31 PM, tgeezer said:

Is it a simple procedure do you think, to transfer the 800,000 THB from a Bank in Thailand to a UK account if the account holder is in the UK? 
 

Over the years I have wanted to send money back to Australia, my bank told me I cannot send THB, they will only send AUD.

So it will be a costly exercise as the banks exchange rate is poor.

[beau thai]

not possible to transfer from your thai bank to Transferwise who will send to your aussie bank at great rates and low fees??

[Henryford]

Isn't Dee Money a good option to transfer money out of Thailand. never used them myself though.

[Dagfinnur Traustason]

On 1/14/2021 at 6:31 AM, tgeezer said:

Is it a simple procedure do you think, to transfer the 800,000 THB from a Bank in Thailand to a UK account if the account holder is in the UK? 
 

Only easy if you have proof that the money originates from abroad, or that you have a work permit and can show that you paid taxes on money earned in Thailand.

[userabcd]

2 hours ago, Dagfinnur Traustason said:

Only easy if you have proof that the money originates from abroad, or that you have a work permit and can show that you paid taxes on money earned in Thailand.

So, should be easy as the proof of money originating from original bank account abroad and transfer into TH, the bank statements abroad and in TH should evidence this. Or there should normally be other evidence of the origin of the money.

 

If not it would be a bit suspicious where the money came from.

Edited January 18, 2021 by userabcd

[Dagfinnur Traustason]

5 hours ago, userabcd said:

So, should be easy as the proof of money originating from original bank account abroad and transfer into TH, the bank statements abroad and in TH should evidence this. Or there should normally be other evidence of the origin of the money.

 

If not it would be a bit suspicious where the money came from.

Correct