Transfering Money Overseas

[Martin_F]

Some questions on transferring money overseas:

1. Are there any restrictions?

2. Which is the best method?

3. Is it better to be done by a Farang or Thai?

4. Any problems with importing money into UK?

Any answers would be most welcome.

Regards.

[duke69]

depends how much

If it's 15-20,000 Euros just put in your pocket and go (without declaring).

If it is more use TT transfer

If it is more than more open a second bank account and transfer from the overseas account to the Thai one (or viceversa)

don't trust local, don't trust Expats.

Don't talk, don't show off

Low profile and play safe

[thaiflyer1]

depends how much

Thats the crucial question! .....Dont think i would fancy walking out of Thailand with 20000 Euros (or equivilant) stuffed in my jeans.

[Martin_F]

I actually wanted to know if there are any restrictions on exporting money out of Thailand.

Is it better to use a Thai person as the transferor or a non Thai.

Anybody have experiance of transferring into the UK? (tax consequences)

Thanks.

[Heng]

Just hand carry it. Declaring anything just increases the hassle. I haven't TT'ed anything out in years, but back in '98, they wanted to see tuition receipts or shipping invoices. Incoming TT's, never a single question, on rare occasions an automated letter saying that 'you have received a SWIFT in the amount of... if this was received in error, please contact BBL at... " You don't even have to carry cash. American Express at the IBM building on Phaholyothin has no "practical" limits on the amount of travellers checks you can buy (who's to say you're not going watch shopping in Geneva or buying jewelry for your fiance?). I'd assume Visa (say, through Citibank) has no restrictions as well, but I don't know.

[thaiflyer1]

Still dont know how much we are talking about or how often but..........one way of doing it is to obtain off your Thai bank an international ATM card (300 baht with Siam Commercial) send the card back to the UK to someone you trust who can withdraw the cash from any ATM there, it/ll come straight off your account here. Ive heard that when you update your passbook here in Thailand there are codes to say where the money has been withdrawn but that is not my experience.........my bank book here shows no such codes only the decrease in balance (ie money has been withdrawn) when i make the next deposit...........i use this method every month

[Martin_F]

Still dont know how much we are talking about or how often but..........one way of doing it is to obtain off your Thai bank an international ATM card (300 baht with Siam Commercial) send the card back to the UK to someone you trust who can withdraw the cash from any ATM there, it/ll come straight off your account here. Ive heard that when you update your passbook here in Thailand there are codes to say where the money has been withdrawn but that is not my experience.........my bank book here shows no such codes only the decrease in balance (ie money has been withdrawn) when i make the next deposit...........i use this method every month

I think that will probably be too expensive on transaction costs.

But it is a nice idea.

BTW, how much are the transaction costs?

[Martin_F]

Still  dont  know  how  much  we  are  talking  about  or  how  often  but..........

Some money.