Easy To Transfer Money Into Los But Difficult To Transfer Out

[nokia]

hi CM folks,

Is it true that it's easy to transfer Money into LOS but difficult to transfer out?

A few months ago, i tried to transfer money out of LOS from CM's BKK bank & Kasikorn banks,

but it was gently rejected because i didnt had any letter of credit/invoice.

Alternatively, i could try Western Union but i heard the exchange rates are no so good.

So, what do you when you need to transfer money out of LOS, after transferring it in.

Any advice appreciated.

Cheers!

[Fore Man]

Hmmm...never had this problem...we've sent money back on occasion from BKK Bank. Did they explain why you needed a L/C?

[wimpy]

If you can't show income earned here, you need to show the T/T form that you should have received when you wired the funds into Thailand.

[haybilly]

If you can't show income earned here, you need to show the T/T form that you should have received when you wired the funds into Thailand.

As this thread has been covered many times before--maybe try a search?

As I stated before, when I transferred funds from LOS to UK and was asked to show a T/T form, which I could not find, I then produced a number of Foreign Exchange certificates to exceed the amount being transferred--end of problem; however, I now keep ALL T/T forms, F/Ex certs etc.. on the slim chance I may have cash to 'repatriate' again.

[nokia]

If you can't show income earned here, you need to show the T/T form that you should have received when you wired the funds into Thailand.

As this thread has been covered many times before--maybe try a search?

As I stated before, when I transferred funds from LOS to UK and was asked to show a T/T form, which I could not find, I then produced a number of Foreign Exchange certificates to exceed the amount being transferred--end of problem; however, I now keep ALL T/T forms, F/Ex certs etc.. on the slim chance I may have cash to 'repatriate' again.

Is the T/T form from the foreign bank which i filled in to transfer to the Thai bank,

or do i ask the Thai bank to issue a T/T form after the transfer from the foreign bank?

[wimpy]

The Thai bank should give you the T/T when the funds arrive.

If you can't show income earned here, you need to show the T/T form that you should have received when you wired the funds into Thailand.

As this thread has been covered many times before--maybe try a search?

As I stated before, when I transferred funds from LOS to UK and was asked to show a T/T form, which I could not find, I then produced a number of Foreign Exchange certificates to exceed the amount being transferred--end of problem; however, I now keep ALL T/T forms, F/Ex certs etc.. on the slim chance I may have cash to 'repatriate' again.

Is the T/T form from the foreign bank which i filled in to transfer to the Thai bank,

or do i ask the Thai bank to issue a T/T form after the transfer from the foreign bank?

[elektrified]

I have transferred money out of my Kasikorn Bank account multiple times to accounts in Europe and the USA. I just filled out the transfer form and handed it to the teller at both Chang Klan and Tha Phae branches. No questions were ever asked. I don't even know what a T/T form is. Note that not all Kasikorn Bank branches can do International money transfers.

[wimpy]

Were these large amounts?

I have transferred money out of my Kasikorn Bank account multiple times to accounts in Europe and the USA. I just filled out the transfer form and handed it to the teller at both Chang Klan and Tha Phae branches. No questions were ever asked. I don't even know what a T/T form is. Note that not all Kasikorn Bank branches can do International money transfers.

[sbk]

Perhaps better off in the banking forum since this is not really CM specific but banking specific?

[nokia]

Opps, i forgot to ask the bank for a T/T form after the funds arrived in the thai bank account.

The Thai bank should give you the T/T when the funds arrive.

If you can't show income earned here, you need to show the T/T form that you should have received when you wired the funds into Thailand.

As this thread has been covered many times before--maybe try a search?

As I stated before, when I transferred funds from LOS to UK and was asked to show a T/T form, which I could not find, I then produced a number of Foreign Exchange certificates to exceed the amount being transferred--end of problem; however, I now keep ALL T/T forms, F/Ex certs etc.. on the slim chance I may have cash to 'repatriate' again.

Is the T/T form from the foreign bank which i filled in to transfer to the Thai bank,

or do i ask the Thai bank to issue a T/T form after the transfer from the foreign bank?

Maybe i can try either Chang Klan or Tha Phae branch, because the Airport plaza branch declined the transfer form.

I have transferred money out of my Kasikorn Bank account multiple times to accounts in Europe and the USA. I just filled out the transfer form and handed it to the teller at both Chang Klan and Tha Phae branches. No questions were ever asked. I don't even know what a T/T form is. Note that not all Kasikorn Bank branches can do International money transfers.

[Tywais]

Perhaps better off in the banking forum since this is not really CM specific but banking specific?

I agree. Would like to get more feedback on this from a wider audience and will move it there maintaining a link in CM.

[5246jlg]

Have been in e-mail contact with Bangkok Bank, New York Branch, over the last week on just this subject (we came back to the US 2 yrs ago when signs of what was politically coming became VERY obvious). We have been told you can transfer up to $1,000,000 US/yr/person as long as you have the wire transfer information for when you brought the money into Thailand. The bank rep also said the Bank has the records of the wire transfers. For profits (a good chunk of the $750k we are looking to transfer out is profit from land sales) you need to show to the Central Bank that the taxes were paid on the profit and provide information on what are you going to do with the profits. In our case, taxes have been paid and have been told that showing we are going to invest in the US stock market (as it bottoms) or buy a home back here in the US would satisfy this criteria.

We loved living in Chiang Mai and miss Thailand very much! But given the fact that it has become blantantly obvious that Thailand has no real intentions of developing into a democracy (only providing enough appearance of Democracy to appease western governments so that economic/travel restrictions are not put in place), wild ass laws affecting foreigners are thrown out at a whim, and elections are good as long as the monoplies maintain their monopolies, we have in effect, voted with our feet.

[pampal]

Chinatown Bangkok travel agencies, better rates and faster service

oh and no questions asked or documents required

[elektrified]

Opps, i forgot to ask the bank for a T/T form after the funds arrived in the thai bank account.

The Thai bank should give you the T/T when the funds arrive.

If you can't show income earned here, you need to show the T/T form that you should have received when you wired the funds into Thailand.

As this thread has been covered many times before--maybe try a search?

As I stated before, when I transferred funds from LOS to UK and was asked to show a T/T form, which I could not find, I then produced a number of Foreign Exchange certificates to exceed the amount being transferred--end of problem; however, I now keep ALL T/T forms, F/Ex certs etc.. on the slim chance I may have cash to 'repatriate' again.

Is the T/T form from the foreign bank which i filled in to transfer to the Thai bank,

or do i ask the Thai bank to issue a T/T form after the transfer from the foreign bank?

Maybe i can try either Chang Klan or Tha Phae branch, because the Airport plaza branch declined the transfer form.

I have transferred money out of my Kasikorn Bank account multiple times to accounts in Europe and the USA. I just filled out the transfer form and handed it to the teller at both Chang Klan and Tha Phae branches. No questions were ever asked. I don't even know what a T/T form is. Note that not all Kasikorn Bank branches can do International money transfers.

Airport Plaza Kasikorn Bank is unable to make International money transfers. I tried there one time.

[tango]

Chinatown Bangkok travel agencies, better rates and faster service

oh and no questions asked or documents required

Is that the name of one particular travel agency; or a group, anyone of which in Chinatown Bangkok will transfer money? Thanks for the info.

[Pattaya46]

I have transferred money out of my Kasikorn Bank account multiple times to accounts in Europe and the USA. No questions were ever asked.

Hi,

In which currency is your account ?

If it's a EUR, USD, YEN,... account : no problem to transfer abroad.

If it's a THB account, KasikornBank South Pattaya will ask you T/T or FETF (?) for any transfer above 100.000 baht.

[elektrified]

I have transferred money out of my Kasikorn Bank account multiple times to accounts in Europe and the USA. No questions were ever asked.

Hi,

In which currency is your account ?

If it's a EUR, USD, YEN,... account : no problem to transfer abroad.

If it's a THB account, KasikornBank South Pattaya will ask you T/T or FETF (?) for any transfer above 100.000 baht.

THB account. The transfers were under 100,000.

[Pappiklon]

I have the Foreign Exchange Cert from when I transferred a large sum into Thailand, at the time it was 70.8 bht to the £, I now want to transfer back to the UK, will I be allowed to convert the Thai baht received amount into £ equivalent (now about 35% more because of the weaker £), or only the same £ amount I brought in: ie bring in £100,000 would have equated to 7,080,000 bht, convert to £ at current rate = £137,465, will I be expected to pay witholding tax simply because of the exchange rate fluctuation?