ray richards Posted September 26, 2021 Share Posted September 26, 2021 Is it possible for me to transfer £100,000 from my UK bank to my Bangkok Bank in Thailand in 1 transaction for a condo purchase as I am coming to Thailand to live when I am permitted to do so. The large amount will be from the sale of my property in the UK. I don't really want to go back to the UK once I come over to live to transfer small amounts e.g £25-30,000 I just want to do it in 1 lump sum ???? 1 Link to comment Share on other sites More sharing options...
scubascuba3 Posted September 26, 2021 Share Posted September 26, 2021 Yes you can, you need to prime your UK bank as probably it will be blocked initially due to extra checks. For a large amount like this you can also contact the International desk at your thai bank who may give you a better rate. Could alternatively use Wise but max transfer is 2m baht. Also worth sending a small test amount first to ensure it settles correctly. If it goes to the wrong account you are shafted 1 Link to comment Share on other sites More sharing options...
Popular Post Jingthing Posted September 26, 2021 Popular Post Share Posted September 26, 2021 (edited) Years ago I did similar with 75K USD. In that case I was in the U.S. and effected the transfer directly in person from my bank branch. The amount wasn't an issue. The issue was doing it properly so that you'll be able to get the documentation in Thailand so that you will be able to repatriate the money later upon a sale. If you don't know about that already, consult the real estate forum. There are very specific guidelines for that. Edited September 26, 2021 by Jingthing 3 1 Link to comment Share on other sites More sharing options...
CharlieH Posted September 26, 2021 Share Posted September 26, 2021 MOVED to Banking Link to comment Share on other sites More sharing options...
Popular Post Oxx Posted September 26, 2021 Popular Post Share Posted September 26, 2021 As far as your bank is concerned, GBP 100K isn't a "large money transfer". It's a piddling little one. Your bank will make the transfer by SWIFT, and there are literally no limits on the amount that can be transferred by SWIFT. Do note that you'll be way over the Deposit Protection Agency's limit of 1 million baht when the money arrives here. 5 1 2 Link to comment Share on other sites More sharing options...
Popular Post scubascuba3 Posted September 26, 2021 Popular Post Share Posted September 26, 2021 Also... don't panic buy, lots of condo deals once you get here. It's easy to transfer UK to Thailand when in Thailand, in fact it's exactly the same as it's online 4 Link to comment Share on other sites More sharing options...
Peterw42 Posted September 27, 2021 Share Posted September 27, 2021 Yes, you can do a transfer of that size anytime. you will probably have to change your daily limit at the UK end, its usually set by default at a lower amount but can be changed. (phone call, branch visit, online etc) Why the urgency, with online banking nowadays you can literally transfer anytime from anywhere. if both banks are open for business its an instant transfer. With that amount, it would be worth keeping an eye on the Bangkok bank TT rate, and transfer when the pound is up. The rate changes 3-4 times a day, usually up at the start of the month, down at the end of the month etc Nowadays, there is no reason why, you cant come to Thailand, sit by the pool and transfer your money using your phone. Set up online banking, come to Thailand, then worry about transferring money. 1 1 Link to comment Share on other sites More sharing options...
AsiaCheese Posted September 27, 2021 Share Posted September 27, 2021 10 hours ago, scubascuba3 said: Yes you can, you need to prime your UK bank as probably it will be blocked initially due to extra checks. For a large amount like this you can also contact the International desk at your thai bank who may give you a better rate. Could alternatively use Wise but max transfer is 2m baht. Also worth sending a small test amount first to ensure it settles correctly. If it goes to the wrong account you are shafted I think it's not just Wise that has the THB 2 million limit; it may be a general limit. Talk to your Thai bank! Also, the full sum for a condo doesn't need to come in one lump; it can be several money transactions, but you will need a FET statement for each from your bank, to take to the Land Office. It is possible to send <deleted> ds through Wise to Bangkok Bank or Kasikornbank; they will write a statement that the funds are from abroad. Consult the help pages in the Wise website on the how-to. Saves a large pile of money vs. SWIFT transfers (mostly bc. exchange rate, somewhat relativized by Wise fees, but you still save big!) Link to comment Share on other sites More sharing options...
Mbolo Posted September 27, 2021 Share Posted September 27, 2021 Barclays Bank only allowed me a maximum of £50,000 per transaction. Done online easily. Link to comment Share on other sites More sharing options...
crazykopite Posted September 27, 2021 Share Posted September 27, 2021 Set up a wise account the first two transfers are free if I’m correct plus they give the best rate best way would be to transfer your 100k into you new wise account and when your happy with the exchange rate send it to your Thai bank account there is a charge 1 Link to comment Share on other sites More sharing options...
crazykopite Posted September 27, 2021 Share Posted September 27, 2021 Just went into my wise account if I was sending 100 k this is what I would get the transfer charge is just over£500 1 Link to comment Share on other sites More sharing options...
crazykopite Posted September 27, 2021 Share Posted September 27, 2021 Just now, crazykopite said: Just went into my wise account if I was sending 100 k this is what I would get the transfer charge is just over£500 1 Link to comment Share on other sites More sharing options...
crazykopite Posted September 27, 2021 Share Posted September 27, 2021 2 minutes ago, crazykopite said: It looks like it would have to be two tranches as it states the most a recipient can get is 2 million Link to comment Share on other sites More sharing options...
howerde Posted September 27, 2021 Share Posted September 27, 2021 Lloyds bank have no limit on what you send from a branch, internet banking/ the app you can send 100 000 pounds daily, i sent money to my Bangkok bank using the app, i thought there would be issues as i sent a similar amount to yours there were non, the charge was 9.50 from lloyds and no fees from Bangkok bank, i looked and sending through a 3rd party, but the difference was negligible 1 Link to comment Share on other sites More sharing options...
skorts Posted September 27, 2021 Share Posted September 27, 2021 Any foreigner planning to purchase a property in Thailand must follow the correct procedures for Transferring Money into Thailand. If the proper steps are not taken it may prove impossible to repatriate the money when it comes time to sell the property and/or leave Thailand. If more than US$ 50,000 is being remitted for the purchase of a condominium, a Foreign Exchange Transaction Form (FETF) must be requested from the receiving bank. The Condominium Act states that any non-resident of Thailand who wishes to buy a condominium, must transfer the requisite funds from overseas specifically for that purpose. Regardless of the buyer’s country of origin, the funds must be sent in a foreign currency, to be converted into Thai Baht (THB) by the receiving bank upon arrival in Thailand. In order to register the condominium with the Land Department, the FETF documentation must be presented to prove that the full purchase price was transferred into the Kingdom from abroad. (The instruction on the bank transaction form should also state that the payment is for the sole purpose of purchasing a condominium.). 2 Link to comment Share on other sites More sharing options...
mrfill Posted September 27, 2021 Share Posted September 27, 2021 Could your solicitor pay the proceeds directly into your account at the London branch? Bangkok Bank 2, 33 St. Mary Axe, The City, London, EC3A 8AA Tel 020 7929 4422 Link to comment Share on other sites More sharing options...
Chris.B Posted September 27, 2021 Share Posted September 27, 2021 10 hours ago, Oxx said: As far as your bank is concerned, GBP 100K isn't a "large money transfer". It's a piddling little one. Your bank will make the transfer by SWIFT, and there are literally no limits on the amount that can be transferred by SWIFT. Do note that you'll be way over the Deposit Protection Agency's limit of 1 million baht when the money arrives here. It is to him!! So why are you putting him down with a sarcastic remark? 2 Link to comment Share on other sites More sharing options...
Oxx Posted September 27, 2021 Share Posted September 27, 2021 1 hour ago, Chris.B said: It is to him!! So why are you putting him down with a sarcastic remark? I'm not making a "sarcastic remark". Banks handle transfers of millions and millions every day. Stating that GBP 100K is a trivial amount to transfer is simply a fact, not a put down. 1 Link to comment Share on other sites More sharing options...
topt Posted September 27, 2021 Share Posted September 27, 2021 1 hour ago, mrfill said: Could your solicitor pay the proceeds directly into your account at the London branch? Bangkok Bank 2, 33 St. Mary Axe, The City, London, EC3A 8AA Tel 020 7929 4422 The UK branch is for commercial accounts only - they do not handle retail banking. Saying that you used to be able to set up direct transfer from the UK to your BBK account in Thailand via this branch but it needed to be set up from Thailand. Was mainly used for regular pension type payments from memory. Not sure if this is still done? Link to comment Share on other sites More sharing options...
Popular Post KannikaP Posted September 27, 2021 Popular Post Share Posted September 27, 2021 2 hours ago, crazykopite said: Just went into my wise account if I was sending 100 k this is what I would get the transfer charge is just over£500 And this is where a SWIFT would be cheaper, at Nationwide it is £20 for any amount. 3 Link to comment Share on other sites More sharing options...
Caspersfriend Posted September 27, 2021 Share Posted September 27, 2021 10 minutes ago, topt said: The UK branch is for commercial accounts only - they do not handle retail banking. Saying that you used to be able to set up direct transfer from the UK to your BBK account in Thailand via this branch but it needed to be set up from Thailand. Was mainly used for regular pension type payments from memory. Not sure if this is still done? I have had a personal [retail] account with the London branch of Bangkok Bank for many years. They provide you with a user-code and you transfer from your bank to them in GBP. The funds are available in the Thai branch next working day. If you have an FCD account it is transferred in GBP and you get to control the exchange rate when you transfer to THB. 1 Link to comment Share on other sites More sharing options...
topt Posted September 27, 2021 Share Posted September 27, 2021 2 minutes ago, Caspersfriend said: I have had a personal [retail] account with the London branch of Bangkok Bank for many years. They provide you with a user-code and you transfer from your bank to them in GBP. The funds are available in the Thai branch next working day. If you have an FCD account it is transferred in GBP and you get to control the exchange rate when you transfer to THB. I am guessing that is via the method I mentioned but happy to be proved wrong. Since you say you have a user code and I presume you use the account no of your account in Thailand I would suggest you don't actually have a separate account there? Did you set it up in the UK or from Thailand? Link to comment Share on other sites More sharing options...
Caspersfriend Posted September 27, 2021 Share Posted September 27, 2021 3 minutes ago, topt said: I am guessing that is via the method I mentioned but happy to be proved wrong. Since you say you have a user code and I presume you use the account no of your account in Thailand I would suggest you don't actually have a separate account there? Did you set it up in the UK or from Thailand? I was merely clarifying the current situation for the OP's benefit. In response to your comments: "The UK branch is for commercial accounts only - they do not handle retail banking. Saying that you used to be able ........." I set up the arrangement directly with the London branch. Obviously had to give them my Thailand account number for the transfer. How it is set up in the London branch I wouldn't know; or recall as it was some years ago. They act as a portal. I find it a convenient system and, from posts on previous topics, I believe I am not alone in that. 1 Link to comment Share on other sites More sharing options...
freedomnow Posted September 27, 2021 Share Posted September 27, 2021 Just quadruple checking the account number it is going to....???? I'd personally average it in to Thailand 10k or 25k at a time and you might be sending into a better exchange rate as the days progress...or worse though... 2 Link to comment Share on other sites More sharing options...
Peterw42 Posted September 27, 2021 Share Posted September 27, 2021 Bangkok bank in the UK is a UK bank with a UK banking license etc. Its not a branch of Bangkok Bank Thailand. Yes, it has the same parent company but otherwise it operates as a UK bank, no different to any other UK bank. Its the same for any banks that operate in other countries, they are usuallly individual banks that operate as banks of the country they are located in. 1 Link to comment Share on other sites More sharing options...
JackGats Posted September 27, 2021 Share Posted September 27, 2021 I would first transfer a small sum as a trial to make sure your have entered the correct account data your money lands into the right account. 1 Link to comment Share on other sites More sharing options...
harry94 Posted September 27, 2021 Share Posted September 27, 2021 Ten years ago i had £20.000 sent to my bank in Thailand (SCB) i received a phone call asking me what the money was for , i told them i need to show money in my bank to convert to a retirement visa i was told ok . One thing i think i should have done was ask for a certificate to show where the money came from in case i had a problem returning the money to the Uk in the future . £100.000 is lot of money i am no expert but if you ever wanted to return the money to the Uk you might need proof of having it sent here . Good luck with your move . Link to comment Share on other sites More sharing options...
topt Posted September 27, 2021 Share Posted September 27, 2021 23 minutes ago, Caspersfriend said: I set up the arrangement directly with the London branch. Seems like my memory was faulty or they changed it as according to this https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/Transfer-money-from-UK-to-Thailand-via-London-Branch you have to apply with documentation to the London branch as you stated. 1 1 Link to comment Share on other sites More sharing options...
SCOTT FITZGERSLD Posted September 27, 2021 Share Posted September 27, 2021 1 hour ago, Oxx said: GBP 100K is a trivial amount to transfer it might be trivial to the bank but very significant to the customer. depands on the customer profile with the bank, even 1000 can be an issue, if the customer is flagged as high risk. Link to comment Share on other sites More sharing options...
SCOTT FITZGERSLD Posted September 27, 2021 Share Posted September 27, 2021 14 minutes ago, harry94 said: if you ever wanted to return the money to the Uk you might need proof of having it sent here the bank cannot tell if it was the same money that was sent from the UK ...money has no smell...what counts for the bank is where the customer is resident. if he will reside in thailand for few years than the bank will see the source. Link to comment Share on other sites More sharing options...
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