Receiving Money Through Bank?

[NHkidCudi]

Ok, I just opened up an account a few days ago with the Siam bank (purple bank) and I am wondering what the best option of receiving money is? I need the funds immediately or within a week so whats the best way for my grandparents to send it to me? Thanks!

[gotlost]

Bank to bank transfer. They will need your bank detail including transfer information. You can get this from your bank they well be open tomorrow.

[smokie36]

You need the bank's SWIFT code your account number and an address of the branch.

[NHkidCudi]

I have all that. Will they put a hold on the money or will it be available?

[smokie36]

Money is usually in the account two/three days after sending...and available immediately.

[KhunBENQ]

I have all that. Will they put a hold on the money or will it be available?

Depending on the sum (>20000 USD equiv.), some paperwork might be necessary.

Better to send amounts below that limit.

[chiangmaibruce]

Depending on the sum (>20000 USD equiv.), some paperwork might be necessary.

Better to send amounts below that limit.

Sorry Benq, but I think of a few circumstances where that "paperwork" could be mighty useful. For e.g. to create a paper trail to prove you paid for property or other belongings in the event of divorce OR to obtain a Foreign Exchange Transaction Form is you want to buy a condo in your own name ... plus more transfers can mean more fees.