Transferring Money Out Of Thailand - Help!

[seand]

Hi, if anyone could give me some helpful advice that would be much appreciated.

I have 10 million Baht in my Bangkok Bank account - I have no proof of bringing it into the country. Is there any way I can get this money out of Thailand. I live in the UK and have a thai wife if that is of any help.

Any suggestions?

Many thanks.

[nakachalet]

seand

what is the nature of your problem anyway?

just walk into your bank and tell the manager what you want to do.

he/she will ask you to fill out a standard banking regulatory form which is common for this size of transaction.

if you or your wife's faces are not quite well known to the managing staff, they may fire off some questions to protect themselves....

it usually takes less than 5 min to completely filled out the required form....

if everything checks out including your destination financial institution's ability and willingness to accept such funds....

and if your cash is unencumbered and unattached and ready....

everything will fly.... and you will have to pay regular transactional fees....

unless, of course, there are suspecious circumstances.... then it is an entirely different ball game.... lol

just wander, why would any bank post any problem for a transaction of merely less than 200,000 pounds....?

bangkok bank in particular.... it is very facilitatious.... when even larger sum than mentioned were wired into and out of thailand....

friend.... do you have something to hide or something.... LOL

[pete_r]

Nakachet, which bank and branch do you use (as different branches of the same bank can have different policies)? When I want to transfer money back to my home country, my bank wants to see passport, work permit and evidence of salary (i.e. certificate from my employer). So I would be happy to switch to a bank that would require only to show a passport and to answer a few questions.

Thanks in advance for your reply,

[Yamantaka]

I agree with pete_r, it is not that easy to send money out. Our company was registered with an actual capital infusion of THB 20 million so we can export that much whenever we choose, but we still have to fill out paperwork when we send out large sums.

[seand]

Hi Nakachalet,

I have nothing to hide, just no paperwork to show that I brought this money into the country - I was under the impression that there were restrictions on taking money out of the country - however maybe this is just for carrying cash out?

Thanks for your reply and if anyone else has experiences of taking reasonably large amounts of money out of Thailand it would be interesting to hear about them.

Cheers.

[Soutpeel]

Hi Nakachalet,

I have nothing to hide, just no paperwork to show that I brought this money into the country - I was under the impression that there were restrictions on taking money out of the country - however maybe this is just for carrying cash out?

Thanks for your reply and if anyone else has experiences of taking reasonably large amounts of money out of Thailand it would be interesting to hear about them.

Cheers.

Nak has given a very simplistic and basically inaccurate explanation , yes there are restrictions sending money out, you need to justify to the BOT why you are taking them money out, (the form you would have to fill in the bank) and if you never justifed bringing it in, you are going to have fun a games trying to get it out..

If you are on a work permit you can justify sending money out as family support

[shaunoro]

I have just tried doing this and i was told by K bank that work permit was required as well as transaction/declaration form.

[gotlost]

I asked my bank (Bangkok Bank) what I could transfer or take out of Thailand legally and I was told what I could prove that I brought into Thailand which happens to be everything in my accounts. Proof is custom declarations, wire transfers, personal checks ,bank drafts, etc etc.

[aurelius]

If you are a foreigner with no work permit the BOT question is "where did you get your money from if you don't have a work permit". And therefore if it was sent to you, then there will be banking records, if it was obtained from working without a wp, then it will be more difficult to export. If it was achieved by buying and then selling a condo, there will be records of these transactions which can be used to support the value.

If you have family abroad and are working here, or are paying education fees abroad, you can send currency out for those purposes, or can repatriate income if you have evidence of having earned it (pay slips, tax receipts etc)

Excluding that, the limit for transactions without supporting documents is 10k USD, so multiple low value transactions is possible, if not inconvenient, but furthermore still runs the risk of BOT consolidating the transaction history and getting to your total transaction amount.

[seand]

OK, thanks for the info - I thought there would be some restrictions on transferring money out. So, say I have no documents has anyone come accross a way of getting round the BOT rules?

[Soutpeel]

If you are a foreigner with no work permit the BOT question is "where did you get your money from if you don't have a work permit". And therefore if it was sent to you, then there will be banking records, if it was obtained from working without a wp, then it will be more difficult to export. If it was achieved by buying and then selling a condo, there will be records of these transactions which can be used to support the value.

Even with a WP the BOT question why you are sending money out...

The simplest solution for the OP would be to hand carry the amount from Thailand in another currency and hope he doesnt get sprung in the UK...

[PattayaParent]

Use your ATM card to withdraw the maximum amount daily.

[braindead]

Change it to Euros and ship it out the country ... About 250,000 Euros should be easy to ship out

[ChiangMaiFun]

Change it to Euros and ship it out the country ... About 250,000 Euros should be easy to ship out

Will they ask questions about currency exchange? changing it to Euros? and 'ship it out' means what? take in a bag? or send it somehow? (Fedex?)

[AbeSurd]

Will they ask questions about currency exchange? changing it to Euros? and 'ship it out' means what? take in a bag? or send it somehow? (Fedex?)

Last time I looked at Suvarnabhumi - maybe a year ago or more - I saw signs saying the maximum you could take out of Thailand in cash was (I think) something like 24,000 US dollars (or, if in another currency, the equivalent of 24,000 US dollars, I suppose).

Can anyone confirm this figure?

[AbeSurd]

I don't think it will help the OP but some other people reading this thread might be interested in this thread I started many days ago about wiring money from the UK to Thailand and then back again.

People wiring money from abroad to satisfy the requirements for a retirement visa might be particularly interested, if they've ever wondered how in the future they might get the money out of Thailand should they want to:

http://www.thaivisa.com/forum/Wiring-Money...nk-t322664.html