Wiring Money Out Of Thailand - How And Where?

[007]

I recently had a lot of trouble wiring diddly 2,000 USD out of Thailand to my bank account in the U.S., as the bank here in Bangkok wanted bills or other nonsensical papers from me in order to process the SWIFT-transfer to the U.S. Of course I didn't have a bill, as both accounts are mine(!)

So, my question is, are other banks easier in this regard than Bank of Ayudhya? I also have bank accounts with Krung Thai Bank and Kasikorn Bank: any experience in wiring money out with either?

Edited October 7, 2008 by 7

[Marksamui]

I recently had a lot of trouble wiring diddly 2,000 USD out of Thailand to my bank account in the U.S., as the bank here in Bangkok wanted bills or other nonsensical papers from me in order to process the SWIFT-transfer to the U.S. Of course I didn't have a bill, as both accounts are mine(!)

So, my question is, are other banks easier in this regard than Bank of Ayudhya? I also have bank accounts with Krung Thai Bank and Kasikorn Bank: any experience in wiring money out with either?

I too have heard rumours that it is difficult to get money out of Thailand. Any truth to this anyone?

Someone told me that you could only trf out what you had brought in and you need a document to confirm that. So say you invest in a house for 1m and sell it for 2m after cost/tax for arguement sake you have 1.5m in the bank. I heard that you could trf out the original 1m but the remaining 500k would have to stay?? So what are the rules with this??

Thanks

[Marksamui]

Has anyone else experienced any troubles with transferring money out of Thailand?

Or know of any restrictions on how much you can transfer?

Thanks

[Jackson2516]

I recently had a lot of trouble wiring diddly 2,000 USD out of Thailand to my bank account in the U.S., as the bank here in Bangkok wanted bills or other nonsensical papers from me in order to process the SWIFT-transfer to the U.S. Of course I didn't have a bill, as both accounts are mine(!)

So, my question is, are other banks easier in this regard than Bank of Ayudhya? I also have bank accounts with Krung Thai Bank and Kasikorn Bank: any experience in wiring money out with either?

The Answer is: The most easier bank for SWIFT Transfer is Siam Commercial Bank in any of the Branch. When they are asking why you needs to send the USD Cash just answer them to maintaining your banking account in U.S.

I have SWIFT USD 2,500 recently. There is the Bank Service charge 500 Thai Baht and 850 Thai Baht for the Overseas Charging.

Good Luck guys

[tangoll]

After I sold my condo, Bangkok Bank transferred out the proceeds from the sale, and they are willing to transfer out up to the amount declared to the Land Department office upon the transfer of ownership. The most important documents that you must show Bangkok Bank is the original of the blue tax receipt document, and the copy of the transaction document (sanya su-khai hong chud in Thai) and both sides of the chanote (copy only as original goes with the buyer). Bangkok Bank didn't even bother to look at the copies of the Foreign Exchange Transfer Form showing the import of the funds for the purchase. Nor did the bank record on the transaction documents that the funds for this transfer has already been exported. I suppose they have a record somewhere of this funds export, but they didn't check whether an earlier export had been done.

[pampal]

Chinatown travel agents don't ask questions and give you a better exchange rate.

Have used them for years, fast and efficient.

[paddypower]

Chinatown travel agents don't ask questions and give you a better exchange rate.

Have used them for years, fast and efficient.

Do you live in BKK ?

I live in Samui.

I will leave Thailand permanently in August. I have a couple of mill baht, no paperwork and I have no idea how to go about this. any advice woudl be very welcome. paddy.

[phetaroi]

Someone told me that you could only trf out what you had brought in and you need a document to confirm that.

I was recently told that by a banker I trust. I asked what people did if they could not explain part of their funds. She said first they transfer out everything they can document (and your bank should be able to document anything you opened your account with if it came in from overseas in a transfer or something of the sort), then she said they usually close the account and take it in cash.

[Valjean]

I filled out some paperwork at Bangkok Bank and now have online foreign transfers from my online banking. There's a yearly limit of I think something like US$100,000 and a per transfer of $20,000 maybe. I forget. So if you were selling a condo or something you might have to go through that paperwork but for the rest it's real easy. You tell them it's for family support, education and such. I think there are some restrictions as to why.

And I also set up Bangkok Bank's NY routing info with my US account so it's online and very cheap to just do an intrabank transfer from US to TH.

I suspect SCB might be as good or better but have most of my experince with Bangkok Bank. I did just get my business online account at SCB and it's pretty solid set of features.

[jcon]

I filled out some paperwork at Bangkok Bank and now have online foreign transfers from my online banking.

I'd be very interested in that Valjean. What paperwork did you have to fill out?

Re: the other questions in the thread, you can transfer up to 20K USD at one go under 'family allowance,' etc. (like Valjean mentioned) and you can go over 20k USD, you just have to fill out another form (I've done it multiple occasions - last time I did it was 2 months ago but let's just say it's not as easy as it was - I transferred gobs out in 2006).

SCB made it sound like I would get audited if I wanted to transfer large sums out - that was talking to the manager at the Rachayothin branch... so I went with BKK Bank, where I had done it before. Each bank and bank manager is different, so go with one you know and have the best relationship with.

I like the Chinatown travel agent suggestion but I wonder if you could feel safe with larger amounts (mid 6-figure USD?)? Pampal? If you needed to get money out....

[paddypower]

I filled out some paperwork at Bangkok Bank and now have online foreign transfers from my online banking.

I'd be very interested in that Valjean. What paperwork did you have to fill out?

Re: the other questions in the thread, you can transfer up to 20K USD at one go under 'family allowance,' etc. (like Valjean mentioned) and you can go over 20k USD, you just have to fill out another form (I've done it multiple occasions - last time I did it was 2 months ago but let's just say it's not as easy as it was - I transferred gobs out in 2006).

SCB made it sound like I would get audited if I wanted to transfer large sums out - that was talking to the manager at the Rachayothin branch... so I went with BKK Bank, where I had done it before. Each bank and bank manager is different, so go with one you know and have the best relationship with.

I like the Chinatown travel agent suggestion but I wonder if you could feel safe with larger amounts (mid 6-figure USD?)? Pampal? If you needed to get money out....

jcon - thanks, you've made me think twice about any mode of moving funds, other than your bank or your money belt. couple of jumbled thoughts, if I may ask, to see if there is another thread I shud be using/ or shud I set up a new one:

my previous post was on behalf of a pal of mine. his problems are 2 fold. (i) getting the money out of thailand and (ii) getting it safely in to the other country. he tells me that he has an official limit for bringing in to Oz cash of Oz $ 20,000.

Question #1: one of the ideas posited here was: to fly to HK or SPore or KL, with some funds and deposit there to a transit account of your home country bank. Is there a web location where I can find out what is the max. carrying cash limit is, upon entry to all of these (and other) countries ?

Question #2: I stopped asking for Inward Remittance forms, when SCB started asking me to pay fees each time. Then I lost all my docs in the tsunami. I never replaced them. Now, reading this thread and listening to my pal have a pity party about his situation, I think I would like to !! Can anyone who has obtained multiple previous years' forms from his/her Thai bank, please post who do you approach, your local branch, or each branch where you had the account, at the time the transfer was received, or head office of SCB. ? I have had accounts over the years at SCB in 3 different branches/provinces. Thanks for any guidance, here. PaddyPower.

[paddypower]

you can transfer up to 20K USD at one go under 'family allowance,' etc.

jcon, I missed to ask you:

my pal says, the local bank branch says it is two thousand (2,000) not twenty thousand (20,000). can you re-confirm the US$20,000 ? and do you have a source i can give him to quote - we're living out in the sticks. so this is all first time for the branch in question.

and - which ever the amount is, 2,000 or 20,000 - have you had the experience of going back to the same branch day after day, to do similar transfers?

and, one more! some one on this thread emphasized that the transfer limit is for Thai baht. Does that mean that if you waltz in to any bank in Thailand with enough Thai baht in cash, you can buy a Oz$ bankers draft for $50,000 or, say $100,000 ?? thanks in advance. paddypower