How to take money out of Thailand?

[Confuscious]

As previously said, I plan to move back to Europe.

I have 25,000 EUR in a foreign currency bank account in Thailand, which I used every year for my visa extension.

When I will move out of Thailand, I would like to take this money with me.

The bank, UOB, made already clear that redrawing money will be only possible in Thai Baht.

This would mean a great loss of money.

Are there other (legal) ways to get this money out of Thailand?

TIA

[GrandPapillon]

nope, why is it a big loss? send THB and they will convert back to EUR, loss should be a small 1% or 2%, perfectly normal and acceptable

[Lacessit]

Take out the Thai baht, convert it to anything else ( US dollars, Swiss francs etc. ) at a money exchange. Small loss on the buy/sell pricing.

AFAIK taking Thai baht out of Thailand is prohibited. Any other currency can be exported.

[KhunLA]

Take it out in Thai baht and exchange to EUR elsewhere.  I took 40k USD back with me last time (2006), and BkkBank gal saved all the USD for me and rung me up everytime she got 5 or 10k worth.

 

No reason why they can't give you EUR, unless simply not having.  Go to a busier (intern'l cust.) branch.

[The Hammer2021]

The baht is quite a strong  currency but anyway I don't see why the OP doesn't just send the money via his banking app or on line banking to his own bank account.

[Boomer6969]

Don't get it. Can't they wire the money back to a bank in Europe. You  might have to prove the money came from abroad though.

 

Maybe I am naive.

[billd766]

I am sorry if this is long winded, but Thailand accepts anybody's foreign currency without a problem but getting it back out is like pulling teeth with no anesthetic and a broken pair of pliers. This was my experience a couple of weeks ago.

 

I got very interested in this a couple of weeks ago when I wanted to transfer Thai baht into USD and send it to my UK account at Wise. My normal bank is Kasikorn and my income transfer account is Bangkok bank. I live in rural Thailand.

 

First I checked with my local KBank and after a little discussion they said that they can do it and then I checked with their call centre. The call centre said yes, BUT you have to prove that the money came from offshore in the first place and for that you need credit advice notes from BBK.

 

I went to Kamphaeng Phet (65km) to the city branch of BBK and my account is in the BigC branch which is a sub branch of the city branch. Not  problem said the city branch as we cover the sub branch. Anything that they can do, we can do. I had taken my statements from Wise so that was easy. NOT.

 

I have to go to the branch where my account is. I did that and the staff looked confused so I explained what I wanted. The guy spoke to his mate and then they both went into the back and came back with a lady who gave me her mobile connected to the BBK call centre. She talked, I listened and I handed the mobile back and they went off again and came back 20 minutes later with my credit advice notes as proof, AND they were free. Normally BBK want 3 working days and 200 thb.

 

Then I ran into Xmas closing. I went into KBank after the Xmas break with my Thai wife and believed that I was home free, however...

 

The cashier started the transaction and then asked my the reason for the transfer. Blank minded I said to pay a bill. Where is the invoice? I don't have one yet. Then sorry we cannot complete the transaction without one. She had  a list and gave my wife a quick look but didn't show it to me. My wife was the voice of reason and dragged me out before I went Mo Ho at the cashier. Later I rang KBank call centre and the lady there said that she would try to sort the problem out and would call me back next day. The branch was correct and I needed another bit of paper which I didn't have.

 

I the looked around and found Dee Money here in Thailand and opened an account online and they CAN legally transfer money out of Thailand.

 

I would suggest that you contact them and explain the problem, open an account online and take their advice.

 

As for me I opened an account but decided to transfer the money from my Wise UK account.

[The Hammer2021]

Surely  your problem issue was Wise?

Did you try  to transfer  to your wise account or the wise bank, mines in London.

On my Thai bank app with Krungsri  there is an international  transfer option.

 

[Puccini]

I would ask the Thai bank to transfer the 25k Euro in my foreign currency account via SWIFT to my account.at my bank in Europe.

[mvdf]

Transfer via SWIFT or withdraw and convert to EUR, then take it with you. Be sure to have with you the following: 1) proof of withdrawal from UOB and ideally 2) proof of transfer from your overseas account to UOB.

 

When you arrive in Europe, declare the money. Customs will want to see proof of source of funds (at least that was my experience when I returned to Germany a few years ago with 33k EUR). Re-injecting the funds back into the banking system in Europe could trigger questions which is why it is important to have proof of source of funds.

 

Edited January 11, 2022 by mvdf

[Confuscious]

3 hours ago, The Hammer2021 said:

The baht is quite a strong  currency but anyway I don't see why the OP doesn't just send the money via his banking app or on line banking to his own bank account.

UOB does not allow banking app or on-line bank on a Foreign Currency Device account.
You see it now?

[Confuscious]

15 minutes ago, Puccini said:

I would ask the Thai bank to transfer the 25k Euro in my foreign currency account via SWIFT to my account.at my bank in Europe.

Again, to clarify, UOB does not allow to withdraw money out of FCD account.
It will ALWAYS be converted to Thai Baht first.

 

[Confuscious]

59 minutes ago, The Hammer2021 said:

Surely  your problem issue was Wise?

Did you try  to transfer  to your wise account or the wise bank, mines in London.

On my Thai bank app with Krungsri  there is an international  transfer option.

 

How do "Wise" work?
Do you need to give them access to your account(s)?

TIA

[Confuscious]

3 hours ago, Boomer6969 said:

Don't get it. Can't they wire the money back to a bank in Europe. You  might have to prove the money came from abroad though.

 

Maybe I am naive.

In my opinion it is a naive question.
When I transferred the 25K Euro from Europe to Thailand, I and UOB received a signed document that the money came from abroad and that the money was earned in a LEGAL WAY. 

[david555]

Last December i send from my mobile phone by Kasikorn app 400 000 Thai baht whitout not one problem same day arrived at my E.U. account  ....

 

i dont have working permit just a ret.ext for 8 years into a total 13 years Kasikorn client ....If trace from money brought in to Thailand from abroad as i have to KK account there should be no problem , as i even did transfer out by mobile app from my home seat ????????

[Confuscious]

1 hour ago, billd766 said:

I am sorry if this is long winded, but Thailand accepts anybody's foreign currency without a problem but getting it back out is like pulling teeth with no anesthetic and a broken pair of pliers. This was my experience a couple of weeks ago.

 

I got very interested in this a couple of weeks ago when I wanted to transfer Thai baht into USD and send it to my UK account at Wise. My normal bank is Kasikorn and my income transfer account is Bangkok bank. I live in rural Thailand.

 

First I checked with my local KBank and after a little discussion they said that they can do it and then I checked with their call centre. The call centre said yes, BUT you have to prove that the money came from offshore in the first place and for that you need credit advice notes from BBK.

 

I went to Kamphaeng Phet (65km) to the city branch of BBK and my account is in the BigC branch which is a sub branch of the city branch. Not  problem said the city branch as we cover the sub branch. Anything that they can do, we can do. I had taken my statements from Wise so that was easy. NOT.

 

I have to go to the branch where my account is. I did that and the staff looked confused so I explained what I wanted. The guy spoke to his mate and then they both went into the back and came back with a lady who gave me her mobile connected to the BBK call centre. She talked, I listened and I handed the mobile back and they went off again and came back 20 minutes later with my credit advice notes as proof, AND they were free. Normally BBK want 3 working days and 200 thb.

 

Then I ran into Xmas closing. I went into KBank after the Xmas break with my Thai wife and believed that I was home free, however...

 

The cashier started the transaction and then asked my the reason for the transfer. Blank minded I said to pay a bill. Where is the invoice? I don't have one yet. Then sorry we cannot complete the transaction without one. She had  a list and gave my wife a quick look but didn't show it to me. My wife was the voice of reason and dragged me out before I went Mo Ho at the cashier. Later I rang KBank call centre and the lady there said that she would try to sort the problem out and would call me back next day. The branch was correct and I needed another bit of paper which I didn't have.

 

I the looked around and found Dee Money here in Thailand and opened an account online and they CAN legally transfer money out of Thailand.

 

I would suggest that you contact them and explain the problem, open an account online and take their advice.

 

As for me I opened an account but decided to transfer the money from my Wise UK account.

EVERY transfer from Europe to Thailand goes trough the Deutsche Bank and Bangkok Bank in Bangkok.
Don't know what the inverse way is when sending money from Thailand to Europe.
Anyway, when I send the funds to Thailand, they wanted to have a signed document from my bank in Europe where it was stated that the money was earned legally.
Thank for the tip.
Wil take a look on "Dee Money".

By the way, the FCD bank account with Bangkok Bank claims that any funds coming from abroad will be transferred back to that bank account when the owner decide to leave Thailand.
I claimed that the funds was for Visa purposes.

[Confuscious]

7 minutes ago, david555 said:

Last December i send from my mobile phone by Kasikorn app 400 000 Thai baht whitout not one problem same day arrived at my E.U. account  ....

 

i dont have working permit just a ret.ext for 8 years into a total 13 years Kasikorn client ....If trace from money brought in to Thailand from abroad as i have to KK account there should be no problem , as i even did transfer out by mobile app from my home seat ????????

I have a FCD account with UOB bank.
Not Kasikorn.

[david555]

1 minute ago, Confuscious said:

I have a FCD account with UOB bank.
Not Kasikorn.

Si you took the wrong bank it seems ????

[Boomer6969]

11 minutes ago, Confuscious said:

By the way, the FCD bank account with Bangkok Bank claims that any funds coming from abroad will be transferred back to that bank account when the owner decide to leave Thailand.

Yes that's what I am doing, I transfers about 90k USD on the first business day of every year, from UBS Geneva without any question asked. On my UBS ebanking I just enter "Pension 2021". I do the same for my tiny Swiss pension, in SFr.

Edited January 11, 2022 by Boomer6969

[Maestro]

1 hour ago, Confuscious said:

Again, to clarify, UOB does not allow to withdraw money out of FCD account.
It will ALWAYS be converted to Thai Baht first.

 

It is understandable that UOB does not allow to withdraw money out of your foreign currency deposit account.

 

Therefore, I suggest that you visit the bank and ask not about withdrawing money, but about a SWIFT transfer of EUR to your account at your bank in Europe. If the person you are talking to does not understand what you mean and/or says that it is not possible, ask to speak to a higher ranking employee. If necessary, continue going higher up the chain of command at the bank until you get somebody who understands his business.

[billd766]

2 hours ago, The Hammer2021 said:

Surely  your problem issue was Wise?

Did you try  to transfer  to your wise account or the wise bank, mines in London.

On my Thai bank app with Krungsri  there is an international  transfer option.

 

Wise does not seem to be able to transfer funds out of Thailand as easily as they transfer it in.

 

There is an international option with KBank as well, but it is the hoops that you have to jump through to actually make the transfer that are the nitty gritty. 

 

If you transferred the incoming funds to the same bank that you wish to transfer them out from, it may be a bit easier.

 

It is also a lot easier if you have done your homework before you try to make the transfer, and of course they have told you everything you need to know.

 

Dee Money charges 250 thb per transaction but the first one is free, though you have to claim it.

[GrandPapillon]

certain Thai Banks like UOB have a different status than banks like SCB, they are "foreigner owned" banks (UOB is Chinese owned) and accounts held there will be under scrutiny by the BoT and certain restrictions will apply for moving money outside of Thailand

 

if you want to be safe, use KhrungThai or SCB, problem solved. UOB has nothing special as a bank.

[The Hammer2021]

2 hours ago, Confuscious said:

UOB does not allow banking app or on-line bank on a Foreign Currency Device account.
You see it now?

UOB is Thai bank branch in Thailand with Thai baht so when you send to UK or Europe  bank you elect to send in target currency so it leaves as baht and arrives as euro.  I am doing a test transfer this week using my Krungsri  app.

OR buy travelers cheques

OR just convert to euros and carry with you

and or take 50k baht too...

are you travelling  alone?

Or open a Thai bank account

 

[david555]

46 minutes ago, The Hammer2021 said:

UOB is Thai bank branch in Thailand with Thai baht so when you send to UK or Europe  bank you elect to send in target currency so it leaves as baht and arrives as euro.  I am doing a test transfer this week using my Krungsri  app.

OR buy travelers cheques

OR just convert to euros and carry with you

and or take 50k baht too...

are you travelling  alone?

Or open a Thai bank account

 

OR buy travelers cheques:                Does those still exist? In Thailand ?

OR just convert to euros and carry with you :        He has Euros .... but not in paper shape bills , and max allowed 20 000 USD value in any currency (if follow the Thai rules )

and or take 50k baht too...:              correct ,that's the official limit in Thai bills allowed 

are you travelling  alone? :               Remember by arrival customs E.U. or U.K. or U.S.A , each person has the amount  carry it himself, not one person !!  in case travelling with more person(s)

 

Or open a Thai bank account :     yes , an easy one ???? , but still need to change to baht first i guess

Edited January 11, 2022 by david555

[The Hammer2021]

25 minutes ago, david555 said:

OR buy travelers cheques:                Does those still exist? In Thailand ?

OR just convert to euros and carry with you :        He has Euros .... but not in paper shape bills , and max allowed 20 000 USD value in any currency (if follow the Thai rules )

and or take 50k baht too...:              correct ,that's the official limit in Thai bills allowed 

are you travelling  alone? :               Remember by arrival customs E.U. or U.K. or U.S.A , each person has the amount  carry it himself, not one person !!  in case travelling with more person(s)

 

Or open a Thai bank account :     yes , an easy one ???? , but still need to change to baht first i guess

Precisely. Travel with 20k euros and 50 baht and he's virtually there. Yes TCS do exist..

Each member of his party can carry their full allowance if he has  kids or wife

or write a cheque  and deposit  it in London branch of UOB

Start spending  some now! If he spends it wisely here in Thailand he could blow it all easily

[The Hammer2021]

2 hours ago, Maestro said:

 

It is understandable that UOB does not allow to withdraw money out of your foreign currency deposit account.

 

Therefore, I suggest that you visit the bank and ask not about withdrawing money, but about a SWIFT transfer of EUR to your account at your bank in Europe. If the person you are talking to does not understand what you mean and/or says that it is not possible, ask to speak to a higher ranking employee. If necessary, continue going higher up the chain of command at the bank until you get somebody who understands his business.

But Thailand  does not allow transfers of money out of Thailand to swift. If you CAN transfer  to swift  then you  can transfer  to a normal bank

[Aye right]

Rent a condo, get some escorts and bottles of the good gear from gulp.bkk!

spank it all!! Yolo 

[Liverpool Lou]

7 hours ago, Lacessit said:

Take out the Thai baht, convert it to anything else ( US dollars, Swiss francs etc. ) at a money exchange. Small loss on the buy/sell pricing.

AFAIK taking Thai baht out of Thailand is prohibited. Any other currency can be exported.

B50,000 in THB cash per person can be taken out of Thailand, more in some cases to countries bordering Thailand. 

 

Any amount of foreign currency can be taken out but amounts over USD20,000, or equivalent have to be declared to Customs on exit.

[Liverpool Lou]

7 hours ago, The Hammer2021 said:

The baht is quite a strong  currency but anyway I don't see why the OP doesn't just send the money via his banking app or on line banking to his own bank account.

He probably doesn't have  a work permit as some banks require to export funds, BBL, for example, and then it's only salary that can be sent.   

 

Transferring internationally (SWIFT) from a Thai bank online isn't as easy as you make out unless you have been specifically provided with that facility.

Edited January 11, 2022 by Liverpool Lou

[Liverpool Lou]

8 hours ago, Confuscious said:

I have 25,000 EUR in a foreign currency bank account in Thailand, which I used every year for my visa extension.

When I will move out of Thailand, I would like to take this money with me.

The bank, UOB, made already clear that redrawing money will be only possible in Thai Baht.

This would mean a great loss of money.

Are there other (legal) ways to get this money out of Thailand?

Have you tried Dee Money?   https://www.deemoney.com/th/