Wire Transfers

[rotherman]

Hi - I have a savings account with bangkok bank, with a bank book and a ATM card. Now I have made wire transfers from the UK into my account in the past - no problems. I want to know if i can do a wire transfer OUT of the account to another country (USA). The wires IN to the account were done via the main branch in Bangkok, I believe.

[ericthai]

You can wire money out, but you have to show where the money came from, you have to declare why you are sending the money out. It is very much regulated. They may decline your request to send out.

[PattayaParent]

Showing them your work permit prevents any problems for transfers out.

[ericthai]

Just showing a work permit does not mean you can send money out. It all depends on how much you are sending and why you are sending it. They are strict about sending large dollar amounts out of Thailand. When buying equipment for my company ans sending out $30K or more I need to show invoice etc. Try to send this amount out with just showing a work permit is not going to work. So like I said it depends on the dollar amount your are sending and provide where the money came from.

If you all of a sudden have $5K USD and want to send it out it wont work, you need to show where money come from. this is to prevent money laundering. This is not just for Foreigners but for Thai's too.

My Thai friend has his son in school in the USA and he has to show them this money is for his son and where the money came from.

[PattayaParent]

I was not asked the source of the money when I transferred out 1 million Baht, or why I was sending it, the bank (TMB) were only interested that I had a Work Permit.

Edit: this was 2 years ago.

Edited October 20, 2009 by PattayaParent