Transfer limits from Thailand to the United States

[myanthai]

I'm interested in making some investments in the United States. I've formed a US holding company, and I am now shopping for banking relationships. Does anyone know if there are limits to Thailand-US transfer amounts? For instance, if I wanted to buy a building in San Francisco, I would likely have to transfer a couple of million dollars to the US. I know it can be done via Singapore, but I'd like to know if anyone has done this kind of thing before, or if it is even an issue for a Thai-US business structure.

 

Note: I am a US citizen. My Thai is terrible, so I haven't gotten very far asking at Bangkok Bank.

[chicowoodduck]

Prove me wrong, but IF you want to buy a building in SFO a few million will get you a cardboard box on Hwy101....????????

[Benmart]

2 hours ago, chicowoodduck said:

Prove me wrong, but IF you want to buy a building in SFO a few million will get you a cardboard box on Hwy101....????????

I think he was asking about bank transfers and not opinions about SF real estate. Focus is difficult when the eyes are partially open.

[geworthomd]

See below

Edited January 26, 2021 by geworthomd
edited

[geworthomd]

See below

Edited January 26, 2021 by geworthomd
edited

[geworthomd]

2 minutes ago, geworthomd said:

Unlimited transfers.  Your recipient bank will report any transaction over $10,000 to the Internal Revenue Service in America.  That isn't a big deal but because you did make the money as an American, just know that you might be questioned as to how you came by the money.  If your money was in Bangkok Bank and you used an American passport to open your account then you have already been reported.

Your transfer in large amounts will be reported to Homeland Security and that is a good thing so that you don't fund terrorist cells.  All things being said as you did, you should be fine.  You can just do your deposit here in Thailand to your regular Bangkok Bank.  In New York, just do your withdrawal.  You can do wire transfers from Bangkok Bank to the USA but that is expensive because they will charge you an international wire fee.  It is best to submit a wire transfer to the Bangkok Bank in New York.  They will ask you for the particulars of your Thai Bangkok Bank, your account and SWIFT and your recipient particulars.  You should not have trouble just remember that the request has to go to the Bangkok Bank in New York City.

 

[Matreusse]

On 1/25/2021 at 2:13 AM, myanthai said:

My Thai is terrible, so I haven't gotten very far asking at Bangkok Bank.

Did you try English?    BBL call centre staff speak near to perfect English as do most of the staff in main branches particularly when it comes to taking care of customers like you whose accounts hold several million dollars.

[connda]

7 hours ago, chicowoodduck said:

Prove me wrong, but IF you want to buy a building in SFO a few million will get you a cardboard box on Hwy101....????????

Actually, that should buy a shipping container in Vacaville.

[natway09]

BKB HO will be able to help in almost flawless English, which is who you need to speak to about 

transferring this kind of money (No standard branch will do it)

Remember that at the other end with that kind of money they will want to know exactly where, when & how accumulated & if tax paid

[timendres]

My Bangkok Bank account allows daily transfers of 50k THB, but required a work permit to establish. KBank accounts can transfer up to 50k THB daily from the mobile app with no problems and no requirements. Any bank should be able to accommodate wiring money out of the country in virtually any amount, as long as the destination account is in your name, and you can demonstrate the origin of the money (i.e., show you brought the money into the country originally, or earned it here), but as @natway09 stated, you will likely need to deal with the head office if the amount if exceptionally large. It is best to avoid multi-country "hops" when possible, as this can trip flags in many systems, increasing potential scrutiny, which can be annoying.

[chicowoodduck]

21 hours ago, Benmart said:

I think he was asking about bank transfers and not opinions about SF real estate. Focus is difficult when the eyes are partially open.

I see said the blind man man who picked up his hammer and saw....????????.  Now climb off your high horse, it it’s time for your afternoon nap...????