Paying for a vehicle , transfer or pay in cash ?

[Billpro785]

If this is not the correct forum, mods, please move it, thanks. 

I'm buying a used vehicle from local dealer in Kanchanaburi, have placed a down deposit , and the balance due is 450000 baht. My question, what are the options for paying the dealer ? I have the funds in my Bangkok Bank account now.

if I pay in cash It will take 9 days to withdraw the money, 50K limit per day. Is there another option such as transferring the whole amount to the dealer ? 

[Regyai]

Im not familiar with Bangkok Bank but my experience with others is that you can easily increase (online) the daily 'limits' to your requirements . Transfer or Branch/ATM cash

[Upnotover]

12 minutes ago, Billpro785 said:

if I pay in cash It will take 9 days to withdraw the money, 50K limit per day

Not if you go into a branch with your bankbook and passport.

Edited February 27 by Upnotover

[gargamon]

K-bank app allows you to set the daily limit right in the app without any intervention at an actual branch. Used it a couple of weeks ago and transferred 650k in one transaction, no problem at all. After the transfer I set it back to 50k limit.

 

Not sure about BKK bank. I quit them a while back. And I find k-bank much better than BKK bank. 

[KhunBENQ]

That's a new one.

50k limit for >cash withdrawal<??

No. As written, take passport, bank book and card to the branch and withdraw as much as you want/have.

Edited February 27 by KhunBENQ

[KhunBENQ]

For >online< transactions at Bangkok Bank I could set limits without a problem.

That after BKB as one of few banks was able to install facial recognition for foreigners.

Waived at SCB.

Edited February 27 by KhunBENQ

[bkk6060]

Yes, increase the limit.  Good luck with it, there is a reason Thais don't like to buy used cars.

[WhatMeWorry]

Smart man buying a car, only idiots buy motorbikes.

[NoDisplayName]

2 hours ago, Billpro785 said:

if I pay in cash It will take 9 days to withdraw the money, 50K limit per day. Is there another option such as transferring the whole amount to the dealer ? 

 

You can reset the individual transaction and daily limits in the app.  If you have withdrawal limit set at 50K, you likely also have transfer limit set at 50K.  I suspect that's the default limit applied when you set up online banking.

 

You can increase the limit, then reset it lower afterwards.

 

Or just go into the bank with your passport and bankbook and collect the full amount..

[Regyai]

29 minutes ago, NoDisplayName said:

 

You can reset the individual transaction and daily limits in the app.  If you have withdrawal limit set at 50K, you likely also have transfer limit set at 50K.  I suspect that's the default limit applied when you set up online banking.

 

You can increase the limit, then reset it lower afterwards.

 

Or just go into the bank with your passport and bankbook and collect the full amount..

 

Or go 'old school' and get them to make out a Bank Draft

[brianthainess]

Sorry can't answer for a dealer, but a "Tent" shop staff, came with me to the bank, and I took out the cash, handing the cash over, back at the tent quite a few photos were taken.

 

[The Old Bull]

Bank draft for sure, don't cost much and takes about five minutes. A no brainer.

[Gsxrnz]

Maybe you should ask the dealer you're buying from what his preference is for receiving the balance.

[stix40]

Bank cheque safest way .

[jippytum]

Purchase s cashier cheque made payable to the dealer

Simple and solves your problem

[ujayujay]

You can do a draft Cheque on your Bangkok Bank Branch. Need the Name and Adress of the Seller. With this Cheque you go with the Seller to its Bank (any Bank), so he have the Amount within Minutes. No cash Money in your Pocket, its secure and easy!

Edited February 28 by ujayujay

[Fairynuff]

Never pay with cash for large purchases. If things go wrong there’s no trail once you’ve taken the cash out of your account.

[Wake Up1]

My dealer had an employee drive me to Bangkok Bank and get a check.The employee spoke to the Bank teller and handled the issue.  You need your passport and bank book and sign for the bank check.
 

 I could have also paid with the Bangkok Bank app to the dealer’s QR code but the Bangkok Bank app was not working properly on that day.
 

[donmuang37]

Carry cash is risky - if somebody sees you withdrawing it and follows you...  you get the idea.

I have bought 5 vehicles for cash here and always went to my bank and got cashier's check made out to the seller.  It also provides reliable proof of payment.  Small fee.  Maybe 200 baht, I forget.  Good luck.