FET for the perplexed

[selvein]

Hey guys,

It is my understanding that I need to transfer money from abroad to a bank in Thailand so that I can get an FET form.

 

For the sake of clarity, let's say that the condo if 2 million so let's say $60,000.

The problem is my US bank will only allow me to send $50k per day. So can I send myself $50,000+$10,000??

Will that create a problem at the land office? 

 

Please help

[chrisandsu]

I’m not an expert on this but I highly doubt it would make any difference . Maybe print out your bank rules/regulations and take it with you . 

[scubascuba3]

Probably ok, but go into your branch and get them to confirm it. Bangkok Bank issue a letter saying how much and for what condo purchase

[Peterw42]

OP, the daily limits at your US bank can usually be changed, but otherwise an FET can be from multiple deposits. 

An FET (I think you will find its a letter nowadays) wont have a breakdown of separate deposits, the bank will ask what amount you want an FET for, usually add the condo details etc. Its just a confirmation that X amount of money has been changed to Baht. (it can literally be a combination of any foreign deposits over time)

The money you actually hand over for the condo can be a different source of funds from a different account.

I have used deposits from 2-3 years ago, even used my 800k retire funds to produce an FET. then paid with funds that I got from selling a car.. 

 

Edited August 17, 2021 by Peterw42

[selvein]

@Peterw42 Finally, this makes total sense. And it looks like, if I understand it correctly, I just need a confirmation letter from the bank and not even an FET form proper, thanks so much!

[OneMoreFarang]

I am perplexed.

 

 

[Card]

Banks will only provide an FET above a certain any. I think it is 200,000 baht.

[PETERTHEEATER]

On 8/17/2021 at 2:27 AM, OneMoreFarang said:

I am perplexed.

 

 

That was my first thought too????

[Scott Tracy]

I read FET and immediately thought Field Effect Transistor. Must the way my brain is wired.

[Delight]

FET in the Thai land office /Thai banking system stands for:

Foreign Exchange Transaction (Certificate)

 

Less transistors are involved.