Repatriating Swift transfer of Bangkok Bank fixed account

[frantick]

I'm repatriating next month back to the @GinBoy2 area. I plan on keeping my savings account, but want to do a Swift transfer of my fixed, 800k account. I believe my home branch on Pattaya Klang, just east of Big C, has closed. I've been doing my banking at Soi Buakhao branch, ie lost bank card, extension letter.

 

My questions (because the banks are closed until Tues and want other's experience) :

 

Is that Klang location really closed? 

 

Will the Soi Buakhao location do this for me? 

 

Is there a Main Branch of BB and if so, where? 

 

Also, but less important, how much will they penalize for early withdrawal; half year of a 12 month, and how much are swift/BB fees? 

 

Thanks and sorry this isn't a political post. 😅

[GinBoy2]

22 minutes ago, frantick said:

I'm repatriating next month back to the @GinBoy2 area. I plan on keeping my savings account, but want to do a Swift transfer of my fixed, 800k account. I believe my home branch on Pattaya Klang, just east of Big C, has closed. I've been doing my banking at Soi Buakhao branch, ie lost bank card, extension letter.

 

My questions (because the banks are closed until Tues and want other's experience) :

 

Is that Klang location really closed? 

 

Will the Soi Buakhao location do this for me? 

 

Is there a Main Branch of BB and if so, where? 

 

Also, but less important, how much will they penalize for early withdrawal; half year of a 12 month, and how much are swift/BB fees? 

 

Thanks and sorry this isn't a political post. 😅

Can't help you on the banking questions, but where are you headed?

[frantick]

15 minutes ago, GinBoy2 said:

Can't help you on the banking questions, but where are you headed?

Rapid 

[GinBoy2]

16 minutes ago, frantick said:

Rapid 

Good choice. We live over in Chapel  Valley

 

If you have a Thai partner in tow we can hook her up with the local Thai ladies

Edited August 10 by GinBoy2

[frantick]

29 minutes ago, GinBoy2 said:

Good choice. We live over in Chapel  Valley

 

If you have a Thai partner in tow we can hook her up with the local Thai ladies

Nope, live like a king here, but couldn't do that with a TL in tow. Though I might dm you for Thai food shopping advice, scarce, I'm sure. 

[LosLobo]

I don't think you are easily able to repatriate money from Thailand, through a normal fixed/savings account as you need an international account and some documentation to justify the transfer.

I have opened a Dee Money account expressly for that purpose.

 

Edited August 10 by LosLobo

[Mike Teavee]

1 hour ago, frantick said:

I'm repatriating next month back to the @GinBoy2 area. I plan on keeping my savings account, but want to do a Swift transfer of my fixed, 800k account. I believe my home branch on Pattaya Klang, just east of Big C, has closed. I've been doing my banking at Soi Buakhao branch, ie lost bank card, extension letter.

 

My questions (because the banks are closed until Tues and want other's experience) :

 

Is that Klang location really closed? 

 

Will the Soi Buakhao location do this for me? 

 

Is there a Main Branch of BB and if so, where? 

 

Also, but less important, how much will they penalize for early withdrawal; half year of a 12 month, and how much are swift/BB fees? 

 

Thanks and sorry this isn't a political post. 😅

No penalties for early withdrawal, you just lose the interest that has accrued so far. 

 

Have you considered using Dee Money https://www.deemoney.com/ (Granted they're in Bangkok but I'm sure you at least used to be able to open an account online) ? Friends of mine use them to send money back to the UK & they seem to get very good rates with quite a low commission charge.   

[topt]

12 minutes ago, LosLobo said:

have opened a Dee Money account expressly for that purpose.

 

5 minutes ago, Mike Teavee said:

Have you considered using Dee Money

The OP may want to have a look at the Jobs/Economy/Banking etc forum as there were some recent reports about "issues"with Dee Money - mainly on time taken from memory. Otherwise I would have agreed.

[frantick]

4 minutes ago, Mike Teavee said:

No penalties for early withdrawal, you just lose the interest that has accrued so far. 

 

Have you considered using Dee Money https://www.deemoney.com/ (Granted they're in Bangkok but I'm sure you at least used to be able to open an account online) ? Friends of mine use them to send money back to the UK & they seem to get very good rates with quite a low commission charge.   

 

12 minutes ago, LosLobo said:

I don't think you are easily able to repatriate money from Thailand, through a normal fixed/savings account as you need an international account and some documentation to justify the transfer.

I have opened a Dee Money account expressly for that purpose.

 

 

4 minutes ago, Mike Teavee said:

No penalties for early withdrawal, you just lose the interest that has accrued so far. 

 

Have you considered using Dee Money https://www.deemoney.com/ (Granted they're in Bangkok but I'm sure you at least used to be able to open an account online) ? Friends of mine use them to send money back to the UK & they seem to get very good rates with quite a low commission charge.   

 

I have read that repatriating is commonly used as a Swift reason for transfer. I also have all the codes, addresses, etc. Also I've read of others using Swift from here.

 

Even though I'm keeping a savings account here, I don't intend to ever send that money back. I really don't want to sign up for another service, such as Dee Money, that I'll never use again. 

[couchpotato]

1 hour ago, frantick said:

I'm repatriating next month back to the @GinBoy2 area. I plan on keeping my savings account, but want to do a Swift transfer of my fixed, 800k account. I believe my home branch on Pattaya Klang, just east of Big C, has closed. I've been doing my banking at Soi Buakhao branch, ie lost bank card, extension letter.

 

My questions (because the banks are closed until Tues and want other's experience) :

 

Is that Klang location really closed? 

 

Will the Soi Buakhao location do this for me? 

 

Is there a Main Branch of BB and if so, where? 

 

Also, but less important, how much will they penalize for early withdrawal; half year of a 12 month, and how much are swift/BB fees? 

 

Thanks and sorry this isn't a political post. 😅

1) You have to close the fixed Deposit Account first and transfer to your savings account, as you cannot transfer money overseas directly from a Fixed account.

2) Once that is done you can transfer online (using mobile app or website) or go directly to your branch.

3) Actually transferring money overseas is quite easy these days.

[Jingthing]

4 minutes ago, couchpotato said:

1) You have to close the fixed Deposit Account first and transfer to your savings account, as you cannot transfer money overseas directly from a Fixed account.

2) Once that is done you can transfer online (using mobile app or website) or go directly to your branch.

3) Actually transferring money overseas is quite easy these days.

Is it really?

Is a work permit no longer required?

[couchpotato]

Just now, Jingthing said:

Is it really?

Is a work permit no longer required?

I think that requirement went out a while ago. These days if you have money in your account, then easy to transfer.

Example last week.  My daughter is travelling in the UK (and asked Dad for more money). Went onto the Krungsri app (but any will do) and within 5 minutes had confirmed transaction into her friends UK account.

Just make sure you have all the correct addresses , IBAN, Swift codes etc ready. Took 2 days.

[Jingthing]

1 minute ago, couchpotato said:

I think that requirement went out a while ago. These days if you have money in your account, then easy to transfer.

Example last week.  My daughter is travelling in the UK (and asked Dad for more money). Went onto the Krungsri app (but any will do) and within 5 minutes had confirmed transaction into her friends UK account.

Just make sure you have all the correct addresses , IBAN, Swift codes etc ready. Took 2 days.

So you don't have a work permit?

[couchpotato]

1 minute ago, Jingthing said:

So you don't have a work permit?

What credentials I have are not pertinent here. I just said a work permit is not necessary. But if you are skeptical then suggest you follow up with the Bank. The end.

 

[Jingthing]

Just now, couchpotato said:

What credentials I have are not pertinent here. I just said a work permit is not necessary. But if you are skeptical then suggest you follow up with the Bank. The end.

 

Uh huh.

I'll take that as a YES, I do have a work permit.

Otherwise there would be no need to be so cagey.

[frantick]

I had read, on BB site, that I could use mobile banking to transfer up to 2m. So I'll just head to the Soi Buakhao branch next week and see if they'll close the FCD account, and move my funds into savings. 

 

I'll also ask about the "photo/face scan requirement", or whatever the past issue was, I read about but never needed, with transferring >50k. 

 

Hopefully they won't refer me to another branch. 

 

I'm on a retirement extension, if anyone couldn't figure that out based on the 800k amount. I don't read anything in the online transfer page regarding WP requirement. 

Edited August 10 by frantick
Clarify

[Mike Teavee]

2 hours ago, frantick said:

 

 

 

I have read that repatriating is commonly used as a Swift reason for transfer. I also have all the codes, addresses, etc. Also I've read of others using Swift from here.

 

Even though I'm keeping a savings account here, I don't intend to ever send that money back. I really don't want to sign up for another service, such as Dee Money, that I'll never use again. 

Apologies, I said there was no penalty but I’ve just remembered that Bangkok Bank charged me approx. 580THB to move 552,429.15 from my Fixed Deposit to my normal savings account so am guessing it’s 0.1% fee +7% VAT. 
 

Edit: the exact numbers I transferred was 562,624.24 & after fees I received 562,042.24 so fees were 582 THB. 

Edited August 10 by Mike Teavee

[GinBoy2]

7 hours ago, frantick said:

Nope, live like a king here, but couldn't do that with a TL in tow. Though I might dm you for Thai food shopping advice, scarce, I'm sure. 

Actually non existent.

 

There is a Philippino store on E North St where you can get some stuff, at a price I might add!

 

What we do is make a trip to Denver every couple of months where you can get everything.

 

Lao Market on Federal Blvd in Westminster and GW in Aurora are our go to places.

 

Couple of ice chests and load up the car.

 

You can do it there and back in a day.

 

We normally do an overnighter since my daughter and our son both live in Denver

 

Let me put it this way. Unless we eat out my wife never eats farang food, which probably tells you everything!

Edited August 10 by GinBoy2

[cjinchiangrai]

You go to the local bank and fill in a form to change your "home bank". Then just ask. There may be a small fee but there is no VAT on cash.

[frantick]

36 minutes ago, GinBoy2 said:

Actually non existent.

 

There is a Philippino store on E North St where you can get some stuff, at a price I might add!

 

What we do is make a trip to Denver every couple of months where you can get everything.

 

Lao Market on Federal Blvd in Westminster and GW in Aurora are our go to places.

 

Couple of ice chests and load up the car.

 

You can do it there and back in a day.

 

We normally do an overnighter since my daughter and our son both live in Denver

 

Let me put it this way. Unless we eat out my wife never eats farang food, which probably tells you everything!

I figured as much. Do they have kaprow (holy basil) in Denver? It was scarce in Minneapolis when I lived there. Probably the only dish I'd cook, maybe Khanna too. 

 

My nephew lives in a Denver suburb, so could get it from him as he visits often, or go myself since I'm retired with no reason not to go. 

 

90%, if not more, of the Thai ladies I've met like only Thai food with an occasional Falang offering. 

 

Maybe have to return to Mexican food, for my spicy cravings. 

[GinBoy2]

Yeah they have kapow. My wife grows it here, but as I'm sure you aware the growing season is short. They ship it in from California.

 

Thai Basil, you can get that in Safeway

 

Oh if you want spicy, that Philippino store I mentioned before, they stock Vietnamese chillies. 

 

I never thought I would hear this from my wife, but she calls them 'evil chillies' since they are so spicy

Edited August 10 by GinBoy2

[cjinchiangrai]

Lao Market

7302 Federal Boulevard

Westminster, Colorado

[GinBoy2]

6 minutes ago, cjinchiangrai said:

Lao Market

7302 Federal Boulevard

Westminster, Colorado

They are really nice people. I work for United and if I fly down for free, my wife will call ahead and they will have everything ready for me. The lady's name is Tim, and she'll have everything boxed up ready for me to head back to DIA

[GinBoy2]

I think we have strayed from @frantick money question!

[jacko45k]

I expect Klang Branch closed until Tuesday, only Mall branches will be open over the long weekend.

Soi Buakhao can likely do it, I moved an account once at a sub branch without issue, it was in the same area so made little difference.

I believe the main branch is on 2nd Rd, at the top  of soi 6.

 

Edited August 10 by jacko45k

[GinBoy2]

So this is another slightly off topic, but may be humorous, sad or just downright dark.

 

I've been IM's with @frantick before his move to Rapid, I wan't him come work for me at the airport.

 

I was telling him a couple of days ago the Sturgis Motorcycle Rally(google it) generally ends up with us shipping out a few dead bodies.

 

Literally within 10 hours of my message to him, sure as shi++++t  I'm shipping out the first one in the morning on the first flight to Minneapolis

 

Middle aged men, motorcycles, alcohol, no crash hats, and general mayhem is never a good combo for life expectancy

[treetops]

On 8/10/2024 at 8:45 AM, frantick said:

Is that Klang location really closed?

 

No, it's not.

 

I was there a week or so ago at the ATM and it looked like business as usual.

[frantick]

So, to update this thread, here's what transpired:

 

Went to Buakhao location. First in line for the desk clerk. (I like this location because they seem to speak English better than my experience at Klang, but it's been 5 years) 

Anyway she tells me to go to a counter clerk to close/transfer, but then realizes it's the Klang location so I must go there. 

 

I scooter over to Klang, and indeed, as @treetops posted, it's still open. Busier than the Buakhao location, I get a ticket for one of the desk ladies as I also want the face scan done. Long wait... Then she tells me, in better English than 5 years ago, that I need to go to the counter, but she can do the face scan. Her camera doesn't work, so we interrupt the 2nd desk clerk to take my picture. I don't know if this is what I'm looking for, ie the scan required to xfer more than ฿50k from my phone, but whatever. (Other falangs were getting their personal phone cameras zoomed in and out on their faces, but I just got a pc camera pointed at me, so not sure.) 

 

I go to the counter, where she closes my account and transfers, hopefully, my 800k to the US. Says it'll take a couple days, so here's hoping. 

 

I mention the English speaking, not to be an ass, but because it's truly appreciated. I'm in their country after all. 

 

Still have 300k in BB savings that I have to move, share, party with, or whatever. 

 

I'll update the thread one last time once the money hits my US account. 

[Pattaya57]

16 minutes ago, frantick said:

I go to the counter, where she closes my account and transfers, hopefully, my 800k to the US. Says it'll take a couple days, so here's hoping. 

 

Well done getting the baht out but what documents did you show to meet these requirements posted on the Bangkok Bank website?

 

FAQ's:

Do I need to provide documents to declare my purpose of sending funds abroad?

The Bank of Thailand requires every commercial bank to obtain documents from customers outlining the reasons for sending the funds abroad before completing the transaction. For example, you may need to provide an invoice if you make a funds transfer to pay for goods or services.

 

If you are foreigner, you will need to bring a document declaring the source of your income (e.g. certification of salary) to complete your overseas funds transfer.

 

Edited August 14 by Pattaya57

[frantick]

1 minute ago, Pattaya57 said:

Well done getting the baht out but what documents did you show to meet these requirements posted on the Bangkok Bank website?

 

Do I need to provide documents to declare my purpose of sending funds abroad?

The Bank of Thailand requires every commercial bank to obtain documents from customers outlining the reasons for sending the funds abroad before completing the transaction. For example, you may need to provide an invoice if you make a funds transfer to pay for goods or services.

 

If you are foreigner, you will need to bring a document declaring the source of your income (e.g. certification of salary) to complete your overseas funds transfer.

No documents. I just provided the routing codes and reason for transfer as "repatriation of funds". She had a long form I partially filled out with names and addresses, routing, account, etc. Signed a small form as both sender and receiver, but that was it.