Transfering Money From Canada

[rhino533]

Hello,

I was wondering if there is any problem transfering $200,000 Canadian from a Canadian Bank account to a Thai Bank account? Does anyone know the Fee cost for such a transfer? Any problems with Thai Banks with such a large transfer? I'm going to transfer to SCB Bank is this a good bank to transfer money too? I live here in Thailand and I'm building a house that's why I'm transfering this money. Any information or experiences would be great. Thanks!!!

[johnnyk]

Fee cost? Ask your CDN bank.

Lots of info here on transfers. Make absolutely sure you get our Thai bank to issue a FE form.

Make sure your CDN bank states clearly on the transfer form "Funds for house purchase".

If you live in Thailand why not talk to your Thai bank about their policies etc. Logical, no?

[naka]

No problem at all, they will welcome your money.

And pay attention to what jonnyk said.

Naka.

[Sophon]

And, maybe most importantly, make absolutely sure that your Canadian bank transfers the amount in CAD so that the exchange to THB happens in Thailand. You will need this to get the Foreign Exchange certificate and also to get a decent exchange rate.

Sophon

[Crash999]

Your Canadian bank likely will ask for a reason for the transfer as it's required by Thailand- my Thai bank (also SCB) suggested I say 'for the purchase of property'. When the money arrived I went to my SCB branch for a Tor Tor Sam form, which can be used as evidence where the money came from later if you want to transfer money back out of Thailand.

As johnnyk mentioned, it's best to talk with your SCB branch and let them know your plan so they can help guide you through the process.

[kudroz]

Did you sign a phone and fax agreement with your Canadian bank? If not, I doubt they will wire the money to Thailand unless you have signed such an agreement beforehand. They will want you to go at the branch in person. You might consider writing yourself a check and deposit it at SCB.

[johnnyk]

All good points and I'd like to add that the CDN guys may give a bit of a paperwork runaround due to the large sum involved so don't expect it to happen fastfast.

Chok dee.