Warning To Those Transferring Money To Thailand From Abroad

[Crossy]

I get paid in Yankee Dollars into my Luxembourg bank, any funds required in Thailand I transfer by TT to my Bangkok Bank account once a month, been doing it for years.

Tried to transfer yesterday, thought it odd that the destination country in my address book had changed to Argentina, try to change it back and Thailand is not on the drop down.

Bug thinks I, email to bank support explaining the problem and that I'd really like to pay my rent, reply below:-

Dear Mister Crossy,

As Thailand is being mentioned on the recent FATF list of countries

presenting certain strategic deficiencies with regards to Anti Money

laundering, Banque Raiffeisen decided to remove "Thailand" from the list of

countries in [email protected]. It is however still possible to make payments

to Thailand, but such instructions must be provided to the bank under paper

form.

For further information you may consult

http://www.fatf-gafi.org/document/31/0,3343,en_32250379_32236992_46237087_1_1_1_1,00.html

For information, please contact your branch office in Remich at the

following number +352 23 60 73 1 or + 352 23 60 74 1.

Kind regards

BANQUE RAIFFEISEN

Further contact indicated that a fax would not do, I have to write to them each time. Not the end of the world as I've got enough in reserve in LoS anyway but it's going to become one heck of a bind in future.

[IMA_FARANG]

I have been transfering money from the U.S. to my Thai family through a local Thai bank for many years. To establish the transfer on a recurring basis I had to fill out a form, sign it, and file it with my U.S. bank. I have what they call a "repetitive transfer code". So to initiate a monthly transfer, I simply ask my U.S. bank for a transfer of funds, the amount, and give them my repetitive transfer code. That initiates the transfer to Thailand.

Edited November 30, 2010 by IMA_FARANG

[BillR]

^ same here. very easy via phone, just call and give them the code. Takes 2 minutes. To get it set up I did have to fedex original documents though.

Edited November 30, 2010 by BillR

[ozsamurai]

For over 2 yrs now Citibank in Japan has refused the online transfer and amassing of THB in my foreign currency accounts, they will still allow a THB transfer if it is done in person, to a pre-registered account over the phone, but net-banking is out. Of course, they charge you more for the 'personal touch'. I'm not surprised other banks are following.

Oz

[PattayaParent]

^ & ^^ The OP is saying that he has had no problems transferring money UNTIL YESTERDAY, so your previous experiences of no problem may no longer be relevant if the rules have changed without your knowing.

Next time you make a transfer post the outcome, that will be more relevant.

Thanks for the heads up Crossy, I wish I was paid enough to warrant having a secret numbered account in Luxembourg.

[ESB7]

If this is ongoing, would it be possible to open a Bangkok Bank account in Singapore, get it transferred there from Lux and then onto Thailand.....just a thought but maybe worth looking into....

[ESB7]

If this is ongoing, would it be possible to open a Bangkok Bank account in Singapore, get it transferred there from Lux and then onto Thailand.....just a thought but maybe worth looking into....

Forgot...if you want the contact details of someone in Sing, PM me and will send by return

[surayu]

Perhaps time to consider giving some business to a different bank which still does online money transfers to Los, i just did mine today eh eh :jap:

[steelepulse]

The way I read this is that your bank chooses not to send to Thailand, not that it's some sort of int'l banking mandate.

[phaethon]

UK Halifax still have Thailand in their SWIFT setup system.

[Crossy]

It's definitely a local decision by the bank based upon the FATF list. My posting was intended to forewarn that if my bank has issues with transfers to Thailand then others might also.

I have a work-around which involves my HK employer sending money direct to my Thai account with the balance going to Lux, hopefully there won't be tax issues.

[lopburi3]

I made a normal online US domestic transfer from USAA to Bangkok Bank NY to Bangkok Bank PLC (paid today) with no issues.

[Naam]

^ & ^^ The OP is saying that he has had no problems transferring money UNTIL YESTERDAY, so your previous experiences of no problem may no longer be relevant if the rules have changed without your knowing.

Next time you make a transfer post the outcome, that will be more relevant.

Thanks for the heads up Crossy, I wish I was paid enough to warrant having a secret numbered account in Luxembourg.

secret numbered accounts have never existed... neither in Luxembourg nor in Switzerland. they only exist in Hollywood movies and novels.

[Naam]

Crossy,

you really should consider changing banks. BANQUE RAIFFEISEN was established to cater for peasants (no joke!).

[MattFS218]

Try selecting United States, and using the Bangkok Bank ABA number to send it via the Fed Wire System and Bangkok Bank in New York. I bet it makes it through. You might even save some money because Bangkok Bank NY has relatively low intermediary banking fees compared to other bangkok bank correspondent banks.