Transfer Of 800k For My Retirement Visa

[vertigo4u]

I will transfer 2 Times ( in 2 following Days ) each Time over 9000 € from Germany to my Thai Bank for my Retirement Visa - should I expect any Trouble with doing so? If so, anybody can give me an Advice?

[astral]

I don't see why it should be a problem.

Your bank will ask for a reason and you will say "funds to support retirement visa extension".

It would be cheaper to do it all in one transfer. One fee, not two.

[naka]

I don't see why it should be a problem.

Your bank will ask for a reason and you will say "funds to support retirement visa extension".

It would be cheaper to do it all in one transfer. One fee, not two.

Is there not a rule about retaining 30% of the funds for a year if

you bring in more than US 20,000 at one time ?

Naka.

[lopburi3]

There is indeed but it only applies to limited specific investment type transactions. But the bank may remove the money and await your explanation later so it is best to keep the transactions below the threshold.

[gennisis]

I will transfer 2 Times ( in 2 following Days ) each Time over 9000 € from Germany to my Thai Bank for my Retirement Visa - should I expect any Trouble with doing so? If so, anybody can give me an Advice?

Assuming the transfer is Bank to Bank,it will be a CHAPS transaction.I was asked for the reason for the transfer...told them Nessesary for a retirement visa....transfer went ahead in 3 days...the total of 950,000 bahts...plus a fee for my bank of about 40 euros.....

Edited June 7, 2007 by Maestro
Removed colour formatting for better readability.

[astor]

I will transfer 2 Times ( in 2 following Days ) each Time over 9000 € from Germany to my Thai Bank for my Retirement Visa - should I expect any Trouble with doing so? If so, anybody can give me an Advice?

No trouble at all for tranfer 800 K . The problens is not for tranfer them, the problem is to have them

[aznyron]

I will transfer 2 Times ( in 2 following Days ) each Time over 9000 € from Germany to my Thai Bank for my Retirement Visa - should I expect any Trouble with doing so? If so, anybody can give me an Advice?

I would wait before I transfer that amount of money the thai baht is over inflatted you wait 2 or 3 months you might get a better return on your money if not find another place to retire living in thailand is not worth it any more

[Sophon]

Assuming the transfer is Bank to Bank,it will be a CHAPS transaction.I

CHAPS is a domestic payment system only used within the UK. For cross border transfers the banks will use SWIFT.

Sophon

[Badbanker]

Assuming the transfer is Bank to Bank,it will be a CHAPS transaction.I

CHAPS is a domestic payment system only used within the UK. For cross border transfers the banks will use SWIFT.

Sophon

If you are making a TT or Wire to Thailand don't send it to Bangkok Bank as it will take 5-7 days to arrive in your account.   BBL play the short term money market with your money leveraged 9 times for 3-5 days and make real killing.

Send it through SCB or Kbank both are technically faster and don't have a policy to use your money for their own purposes.

Badbanker

[Krub]

Assuming the transfer is Bank to Bank,it will be a CHAPS transaction.I

CHAPS is a domestic payment system only used within the UK. For cross border transfers the banks will use SWIFT.

Sophon

If you are making a TT or Wire to Thailand don't send it to Bangkok Bank as it will take 5-7 days to arrive in your account. BBL play the short term money market with your money leveraged 9 times for 3-5 days and make real killing.

Send it through SCB or Kbank both are technically faster and don't have a policy to use your money for their own purposes.

Badbanker

I have never had to wait more than 24 hours for my money to be credited when TT from XXX Bank in Japan to Bangkok Bank branch upcountry

Are you sure it is not the ordering bank playing with the money before sending it ?

[lopburi3]

Perhaps only bad bankers get that treatment. My 11PM exchange request to US bank is always in account here in Bangkok Bank at a noon call to bank automated system. If weekends or bank holidays are involved there could be a delay but the old money exchange rate wait seems to be a thing of the distant past. Believe today the only playing of rates would be for second daily quote rather than opening.

[astral]

CHAPS is a domestic payment system only used within the UK. For cross border transfers the banks will use SWIFT.

True, but the fees are the same.

CHAPS guarantees same day payment,

that cannot be said of SWIFT, especially when funds are sent to Thailand.

[naka]

I will transfer 2 Times ( in 2 following Days ) each Time over 9000 € from Germany to my Thai Bank for my Retirement Visa - should I expect any Trouble with doing so? If so, anybody can give me an Advice?

I would wait before I transfer that amount of money the thai baht is over inflatted you wait 2 or 3 months you might get a better return on your money if not find another place to retire living in thailand is not worth it any more

Little black ... er ... GOOSE

Naka.

Edited June 7, 2007 by naka

[Badbanker]

Perhaps only bad bankers get that treatment. My 11PM exchange request to US bank is always in account here in Bangkok Bank at a noon call to bank automated system. If weekends or bank holidays are involved there could be a delay but the old money exchange rate wait seems to be a thing of the distant past. Believe today the only playing of rates would be for second daily quote rather than opening.

I have never done anything but retail business with Bangkok Bank and have had an account with them for more that 15 years.

6 weeks ago I transfered 15,000 USD into my account and it took 7 days to clear.  Normally it is 5+ days.  I know the money is coming from a swiss bank and I know the exact time the money left my bank and account.  Was almost instantly transfered to BBL but took a 7 days to get credited to my account.

Funny though it took 24 hours to tranfer money from BBL to my Swiss Bank account!

Badbanker

[lopburi3]

I and every other report from US posters that I read say the same thing - 12/14 hours to Bangkok Bank from a US account. I do every 3 months and it is always the same. I call bank at OOB US (22-2300 Thai time) and the money is in my account by noon Thai time. Mine is also just a non commercial account.

I do know the banks used to speculate on exchange rates, especially with checks. But believe this stopped at about the same time as the meltdown 10 years ago; when a lot of bankers got there fingers burnt.

[Badbanker]

I and every other report from US posters that I read say the same thing - 12/14 hours to Bangkok Bank from a US account. I do every 3 months and it is always the same. I call bank at OOB US (22-2300 Thai time) and the money is in my account by noon Thai time. Mine is also just a non commercial account.

I do know the banks used to speculate on exchange rates, especially with checks. But believe this stopped at about the same time as the meltdown 10 years ago; when a lot of bankers got there fingers burnt.

The OP said that he was going to transfer Euros from Germany and I was just making my comment about European banking transactions, which always take longer that US transfers.

And yes my last transfer did take 7 days and yes Bangkok Bank admitted to me this was normal for European transactions as it went through the UBS branch in the USA.   As everyone knows ALL USD TRANSFERS must go through a US corresponding bank.  

A Euro transaction into Thailand I have not personally done and I was pointing out it may take a while, and my experience with Thai banks and Euro transfers into them from European destinations is limited!  From experience SCB and Kbank are normally faster.

Badbanker

[Maestro]

Assuming the transfer is Bank to Bank,it will be a CHAPS transaction.

No. I don’t know from what country you make your transfers and in that country your bank may well call it CHAPS, but the OP talks about a transfer from Germany and there it is called SWIFT.

--

Maestro

[Maestro]

As everyone knows ALL USD TRANSFERS must go through a US corresponding bank.

I know, but perhaps not everyone does, and I believe this is exactly where the delay occurs, in the USA, not at the Thai end.

--

Maestro