Foreign Exchange Transaction Form

[gdhm]

I have just transferred from my UK Bank 2 amounts, 1 into my Wife's Bangkok Bank savings account and 1 into mine for the purpose of land House and new car purchase.

I requested Foreign Exchange Transaction Forms ands to be honest not all the staff I was dealing with seemed to have any idea what they were.

Anyway all was sorted out and the forms prepared and were signed by me my wife and Certified by an Authorised official at the bank.

My wife and I have ONLY been given photocopies of these completed forms.

Can anybody advise whether this is adequate should we need to call upon them in the future or must we have originals, carbonised copies with original stamps and signatures or maybe photocopies duly stamped and signed with original stamp and signature

Kind regards

Dave

[tangoll]

If your local bank is Bangkok Bank, best to go to their Silom Road Headquarters branch, go up the escalators on the left side, up one flight, then go into the large room with the long sitdown counters, punch #4 (if I remember correctly) on the queue number machine, and wait for your number to be called. This is the section for inward remittance. They'll give you a form certifying your inward remittances, then you ask them where to go to get the FECF (still referred as tor tor sahm in Thai) , and they will point you to go to the end of the long room, around the corner to another smaller room with counter. There, you present your inward remittance forms, and the staff in this room will prepare the FECF's for you; one original stamped with the Bank's blue coloured ink, and one copy. Whole process will take less than 45 minutes. Be sure to bring your bank book, account number, and whatever ID you used when setting up the account.

[Irene]

The photocopies should be sufficient as long as it has a referenced number. The idea is for you to refer to that as evidence of inward remittance whenever required. If you are still uncomfortable, try to get a bank official to sign on your copy as true and correct and duly stamped with the bank's name.

[PattayaParent]

I beleive that originals are required by the land office to register a condo.

I think you'd be better being in possession of originals, my bank has always issued originals to me, even had to fill them out myself one time. If they won't for some reason then the certified copy as Irene suggests would be best.

By the way you don't have to prove that the money came from overseas to buy land (as you cannot own it) or a car, not sure about a house though.

[gdhm]

I beleive that originals are required by the land office to register a condo.

I think you'd be better being in possession of originals, my bank has always issued originals to me, even had to fill them out myself one time. If they won't for some reason then the certified copy as Irene suggests would be best.

By the way you don't have to prove that the money came from overseas to buy land (as you cannot own it) or a car, not sure about a house though.

Thanks for this and thanks to to other members who have replied.

I thought the main reason for these Exchange forms was for IF you at a later stage, wished to take monies out of Thailand. These would be needed to prove the monies came into Thailand from Overseas to avoid taxes etc.

Are these forms not the Tor Tor 3 (or equivalent) everybody talks about needing should you take money back out of Thailand?

My Bangkok Bank Branch seemed to think they are.

Regards

Dave

[Irene]

I beleive that originals are required by the land office to register a condo.

I think you'd be better being in possession of originals, my bank has always issued originals to me, even had to fill them out myself one time. If they won't for some reason then the certified copy as Irene suggests would be best.

By the way you don't have to prove that the money came from overseas to buy land (as you cannot own it) or a car, not sure about a house though.

Thanks for this and thanks to to other members who have replied.

I thought the main reason for these Exchange forms was for IF you at a later stage, wished to take monies out of Thailand. These would be needed to prove the monies came into Thailand from Overseas to avoid taxes etc.

Are these forms not the Tor Tor 3 (or equivalent) everybody talks about needing should you take money back out of Thailand?

My Bangkok Bank Branch seemed to think they are.

Regards

Dave

Your understanding is correct since your question was in respect of bringing in money to buy a house or a car and not a condo. The form is useful only when you want to take back the money. You need to give a proof that previously you have brought in the money and the party you have to prove to is not the Bank of Thailand but your own commercial bank.

[LivinLOS]

I beleive that originals are required by the land office to register a condo.

I think you'd be better being in possession of originals, my bank has always issued originals to me, even had to fill them out myself one time. If they won't for some reason then the certified copy as Irene suggests would be best.

By the way you don't have to prove that the money came from overseas to buy land (as you cannot own it) or a car, not sure about a house though.

Thanks for this and thanks to to other members who have replied.

I thought the main reason for these Exchange forms was for IF you at a later stage, wished to take monies out of Thailand. These would be needed to prove the monies came into Thailand from Overseas to avoid taxes etc.

Are these forms not the Tor Tor 3 (or equivalent) everybody talks about needing should you take money back out of Thailand?

My Bangkok Bank Branch seemed to think they are.

Regards

Dave

I was recently informed that people with tor tor 3's are having problems getting money out ??

Can anyone confirm this..

[PattayaParent]

It may depend on what reason they have for taking it out.

If they've sold the condo and want to transfer the money out and have the original purchase contract and the current sales contract and the TT3 that says the money was brought in to purchase a condo then it is possible.

Failing that if they have the blue tax receipt slip from the Land office then it is possible.

If that has changed recently then I don't know.

[Arkady]

I have used the photocopies of Thor Tor 3 and the credit advice to remittance money out of the country with KBank. Many branch office staff haven't a clue about foreign exchange regulations and (if you are lucky) will make you wait for a long time while they talk to their HQ foreign exchange dept to confirm that what you tell them is true. If you are unlucky......

[Langsuan Man]

I can add also that when I purchased my Condo, the Land Office (in Pattaya) kept the original and gave me a copy, with all the "official" stamps on it. When I got back to SCB after the "closing" they stated that this was the correct procedure and the copy would suffice for transfer of money out of Thailand

[PattayaParent]

Your understanding is correct since your question was in respect of bringing in money to buy a house or a car and not a condo. The form is useful only when you want to take back the money. You need to give a proof that previously you have brought in the money and the party you have to prove to is not the Bank of Thailand but your own commercial bank.

But surely if he hasn't brought it in to buy a condo then he cannot remit the money out say 10 years later as they won't beleive it's the same money he brought in?

[pkrv]

A question - I have the developers reciepts for a condominium and the funds did come from outside of Thialand - How do I go about getting the FETF? Or is this what the developers reciepts are? The developers bank is Siam Commercial, my Bank is Bangkok Bank (head office).

Can I use the advice given here to obtain these forms or do I have to deal with Siam Commercial?

If your local bank is Bangkok Bank, best to go to their Silom Road Headquarters branch, go up the escalators on the left side, up one flight, then go into the large room with the long sitdown counters, punch #4 (if I remember correctly) on the queue number machine, and wait for your number to be called. This is the section for inward remittance. They'll give you a form certifying your inward remittances, then you ask them where to go to get the FECF (still referred as tor tor sahm in Thai) , and they will point you to go to the end of the long room, around the corner to another smaller room with counter. There, you present your inward remittance forms, and the staff in this room will prepare the FECF's for you; one original stamped with the Bank's blue coloured ink, and one copy. Whole process will take less than 45 minutes. Be sure to bring your bank book, account number, and whatever ID you used when setting up the account.

Edited December 17, 2009 by pkrv

[aurelius]

If I understand your situation correctly, SCB will not know about your source of funds - you'll need to get the certs from the bank which held your a/c that received the international remittance - that sounds like BBL for you. The certs can be requested up to 10 years after the fact.

[pkrv]

If I understand your situation correctly, SCB will not know about your source of funds - you'll need to get the certs from the bank which held your a/c that received the international remittance - that sounds like BBL for you. The certs can be requested up to 10 years after the fact.

Thanks aurelius very helpfull as always - I think you have answered my question - The transfer of funds was to the developer which is OK they are a .SETI 30 company. So oddly SBC know about my source of funds, the developers bank, but not my personal Bangkok Bank account - god opening a bank account in Thailand is now at least a pinned thread!

I think you mean I some how have to engage SBC, and Bangkok Bank may not be able to help me - Even with a .SETI 30 company?

Edited December 17, 2009 by pkrv

[pkrv]

Ahh I have an answer to the Foreign Exchange Transaction Form, There was a hiccup with the developer of my condominium I think they simply forgot to sent it to me or I may not have understood the significance of an email and quite frankly I am not going to go back to check, in my case there is no need.

Some KEY features here: We are all in very different positions. I bought off the plan back in 2005.

This meant that I paid in instalments.

Many of these were less than 20,000 USD

This meant they were not added to the 'final overall cost of the condominium'

I now have a scan of my own FET but this is just for the final instalment which came it at over 20,000 USD.

I only get a photocopy/scan of the FET. The original is held at Thailand’s land registration authority. Basically because I am dealing with Hemaraj, a .SETI 30 company. I am pretty dam sure this information is correct; these guys are on the ball.

Very confusing, and believe you me buying off the plan in Thailand you need all the help you can get! Not that I regret it one bit!

Apologies I will do a double post to another thread.

[Maestro]

A question - I have the developers reciepts for a condominium and the funds did come from outside of Thialand - How do I go about getting the FETF? Or is this what the developers reciepts are? The developers bank is Siam Commercial, my Bank is Bangkok Bank (head office).

Can I use the advice given here to obtain these forms or do I have to deal with Siam Commercial?

It is correct that the receiving bank in Thailand, in this case the Siam Commercial Bank (SCB), can give the receipt and it will be the account holder, in this case the developer of the condo building, to deal with the bank and then give you the receipts.

For sums below USD 20,000 you remitted to the developer's bank account, the developer can get a credit advice, sometimes also called transaction receipt or some such thing, from SCB. This is usually in the form of a computer printout, which the bank stamps and signs.

For a link to the Foreign Exchange Transaction Form, available for inward remittances of USD 20,000 or more, see here:

http://www.thaivisa.com/forum/Transfering-...04#entry3326904

--

Maestro

[cmsally]

My bank (SCB) has only ever given me photocopies of the TT3 or FET.

Land office has never questioned.

I did question and was told bank head office wouldn't release the original.

Wouldn't be surprised if the info. was wrong, most of their info. is!

But so far no problems.

[pkrv]

Thanks for the replies guys. You know Thailand must get through a rain forest a day with paperwork

I also now have four letters from various financial institutions, that not even I have used. And these are unrelated to Hemaraj's account,

These seem to be acknowledgements of receipt of foreign funds.

How you would go about this if on your own - Well there you go

[pkrv]

For completness sake these letters (for amounts under 20,000 USD) seem to be called

Bai Rap Rong (s) and detail

Amount Transferred

Conversion Rate (if apppicable)

'Reason For Transfer' if specified on the SWIFT form - For us it was the specific unit in our condominium.