Letter Form Bank For Inbound Property Tt

[haveaniceday]

When does the bank, in this case Bangkok Bank give me one of those letters for a inbound wire TT to say it is for property, that you need if exporting the money in the future? My branch, gives me the usual "mai-mee"

Grrrr

[givenall]

I always get an official letter from the bank that the moneywas wired from oversea and ask them to stamp and sign it. is normally enoughfor sending money back

[Pib]

About three years ago when I wired over a bunch of money to buy our Bangkok home I got my letter from the Bangkok Bank headquarters on Silom Road in Bangkok. The provincial Bangkok Bank branch in Nakorn Pathom (province bordering Bangkok) we wired the money to didn't seem to have a clue about the letter. But as mentioned, went to the Bangkok HQ on Silom and got the letter no problem. They pulled up the previous transfer information in their data system and then issued the letter. The HQ said their Nakorn Pathom branch could have issued the letter.

When we went to our Nakorn Pathom Bangkok Bank branch again on another paperwork issue and ended up dealing with the same person, we mentioned we had got the letter from HQ Bangkok Bank that the Nakorn Pathom branch previously said was a no-can-do...and the service representative we were talking to seemed really embarrassed. The service representative even called the HQ to ask about it...and then said it was just a miscommunication between her and the Thai wife and I...and the Nakorn Pathom branch could have indeed issued the letter.

It probably was just a mis-communications that happens a lot in Thailand simply because Thai's don't know much English and farangs don't know much Thai...makes a perfect recipe for miscommunications.

[kwonitoy]

I bought a condo on a 3 year payment plan in 2006 while it was being built, with the final 60% lump sum being paid upon completion.

I was transfering in money continuealy over the 3 years and always had to fight TMB for some documentation for the transfers. But when I transfered in the finaly payment and went with the paperwork from the condo builder of final payment then the bank did the tor por 3 letter with the full amount of the purchase price all stamped and signed by the bank manager.

The tranfered amounts in my case didn't add up correctly because I had transfered some money from different offshore account's to my Siam bank and then to the builder, so I thought I was done. The lady at the bank made a cash withdrawal and redeposited it to my account to make the numbers match, she just smiled and said no problem.

Worked for me, I got my letter for the correct amount and their books balanced.

TMB in Pattaya second road for what its worth.

[haveaniceday]

"tor por 3 letter"

Thanks for it's name, I will ask them to ring head office to give the branch staff advice on ow to do their job !

Anyone know the name of the letter in Thai writing?

[Kalbo]

When I asked for the documentation (Chonburi branch of Kasikorn Bank), I was given a bit of a run around, as no-one had heard of it. I was then asked to bring in the sales contract for the condominium, and after some

faffing around, they gave me the stamped and signed document. I don't think anyone in the bank had ever heard of a tor por 3, and it took my Thai estate agent friend about 15 minutes to explain to them why it was all necessary.

The other point you may need to watch out for is the place where it says 'reason for transfer'. Just ensure that 'For condominium purchase' or something similar is written there.

[PattayaParent]

Sometimes it is the Head Office that issue the TT3, now called a Foreign Exchange Transfer Form (FETF) the branch only has to ask them so push it with your branch manager if he doesn't have the forms in the bank. I filled in one myself though the second time I bought a condo.

The FETF is for transfers over US$20,000 equivalent (but I've read on this board that has now changed to US$50,000 equivalent).

If the amount is less than that required for the FETF you want to ask the bank for a 'bai rap rong' which will detail the foreign currency transfer and the exchange, again this may have to come from the head office as that's where the foreign currency was received.

[Daveroc]

"tor por 3 letter"

Thanks for it's name, I will ask them to ring head office to give the branch staff advice on ow to do their job !

Anyone know the name of the letter in Thai writing?

Haveaniceday, if you wish to PM me I will endeavor to sort the matter for you. As previously advised I work for BBL.

[Nawtier]

Daveroc.....can we all...or at least me....hit you up for some info re Bkk Bank and getting stuff done ??

[chiangmaibruce]

The FETF is for transfers over US$20,000 equivalent (but I've read on this board that has now changed to US$50,000 equivalent).

It looks like that increase to USD50,000 is correct - see link below:-

http://www.bangkokbank.com/Bangkok%20Bank%20Thai/Documents/Site%20Documents/GPSD/FXTransactionForm_15032011.pdf

[Daveroc]

Daveroc.....can we all...or at least me....hit you up for some info re Bkk Bank and getting stuff done ??

Happy to assist where i can. As these issues are likely to be of a personal/confidential nature please PM me.

Daveroc

[haveaniceday]

Fantastic tips, thank you.

I doubt this means that Thailand Banks will happily let you wire $49,000 out of he the country though without a huge mess about.

Amazing Thailand

Edited April 9, 2011 by haveaniceday

[yankee99]

In my experience. First you have to go to the branch where you opened your account other branches dont usually have your info. If less then 20k they will write you a letter. If over they give you a fund transfer form. Kasikorn emails you the form and then you can take it to your branch to get stamped...You will need this form to complete the purchase at the land office. Interesting is now you can outbound (from thailand) wire 1.2 million baht a month out of bkk bank...

[SuperGers]

I am in the process of transferring funds from my UK Santander account into my Thai Kasikornbank account for the "purchase" of land to build on ( 2 x 30 year lease ). Does anyone know if i can get a Tor Por 3 for the incoming funds ? A slight complication is i am using HiFx, a foreign exchange company, who will be converting it to TB before paying it into my Thai account, so technically it will be entering Thailand as Baht ? Some of the posts on here suggest to get the TP3 the money has to enter as foreign currency ?

It's unlikely i would want to move funds back to UK but i'd like to keep the option open.

Any advice would be appreciated

[PattayaParent]

I am in the process of transferring funds from my UK Santander account into my Thai Kasikornbank account for the "purchase" of land to build on ( 2 x 30 year lease ). Does anyone know if i can get a Tor Por 3 for the incoming funds ? A slight complication is i am using HiFx, a foreign exchange company, who will be converting it to TB before paying it into my Thai account, so technically it will be entering Thailand as Baht ? Some of the posts on here suggest to get the TP3 the money has to enter as foreign currency ?

It's unlikely i would want to move funds back to UK but i'd like to keep the option open.

Any advice would be appreciated

The requirement to bring in foreign currency is for purchase of a condo in a foreign name and the TT3/FETF is proof of that, as you can't legally 'purchase' land in Thailand as a foreigner I doubt it would be issued but you may get a letter from the bank stating the Thai currency was received from overseas. I don't know if that would be of any use for re-transferring in the future though.

[Pib]

I am in the process of transferring funds from my UK Santander account into my Thai Kasikornbank account for the "purchase" of land to build on ( 2 x 30 year lease ). Does anyone know if i can get a Tor Por 3 for the incoming funds ? A slight complication is i am using HiFx, a foreign exchange company, who will be converting it to TB before paying it into my Thai account, so technically it will be entering Thailand as Baht ? Some of the posts on here suggest to get the TP3 the money has to enter as foreign currency ?

It's unlikely i would want to move funds back to UK but i'd like to keep the option open.

Any advice would be appreciated

The requirement to bring in foreign currency is for purchase of a condo in a foreign name and the TT3/FETF is proof of that, as you can't legally 'purchase' land in Thailand as a foreigner I doubt it would be issued but you may get a letter from the bank stating the Thai currency was received from overseas. I don't know if that would be of any use for re-transferring in the future though.

Foreigners (individuals) can not own land in Thailand, expect under some unique/big buck bond investments.

SurperGers, at best you are transferring money in to go into a least agreement (you won't own any land in your own name)....and beware of any lease deals/promises beyond one 30 year lease period.

[SuperGers]

I am in the process of transferring funds from my UK Santander account into my Thai Kasikornbank account for the "purchase" of land to build on ( 2 x 30 year lease ). Does anyone know if i can get a Tor Por 3 for the incoming funds ? A slight complication is i am using HiFx, a foreign exchange company, who will be converting it to TB before paying it into my Thai account, so technically it will be entering Thailand as Baht ? Some of the posts on here suggest to get the TP3 the money has to enter as foreign currency ?

It's unlikely i would want to move funds back to UK but i'd like to keep the option open.

Any advice would be appreciated

The requirement to bring in foreign currency is for purchase of a condo in a foreign name and the TT3/FETF is proof of that, as you can't legally 'purchase' land in Thailand as a foreigner I doubt it would be issued but you may get a letter from the bank stating the Thai currency was received from overseas. I don't know if that would be of any use for re-transferring in the future though.

Foreigners (individuals) can not own land in Thailand, expect under some unique/big buck bond investments.

SurperGers, at best you are transferring money in to go into a least agreement (you won't own any land in your own name)....and beware of any lease deals/promises beyond one 30 year lease period.

I've had a legal contract drawn up with a clause stating after first 30 year period expires, a second 30 year lease will automatically be granted free of charge ( land tax fees apply again ). Ratified by lawyer and signed by both parties . I think this is as watertight as i can get but whether it would stand up in Court, who knows ? This is Thailand after all, and i am a falang