Canadian Swift Transfer Tax #

[rmacdon61]

I am off to the bank (Canada) to get money sent or a bank draft for Chiang Rai tomorrow.

The form asks for a tax number, which is confusing as we use a sin number here in canada?

I guess two questions.

1/ Just bring a bank draft? (how long to clear from Bangkok bank so money in my account)

2/ use swift and transfer money (if I can figure out what Tax # is)

Thanks guys

Hope to see and meet up with you all

Bob

[changraider]

There is no tax # required on a standard SWIFT transfer. If you are transferring a reasonably large amount into Thailand the Thai anti money laundering controls require the receiving bank to ensure that the money is clean, presumably this is why Bkk Bank is asking for your Canadian tax code (if I've understood your post correctly). In which case they will probably ask for your tax code or some similar assurance, even if you use a banker's draft. This is just conjecture based on the limited information in your post. The simplest and surest way for you to find out is to phone the bank and ask for clarification. Hope this helps, good luck.

[rmacdon61]

So reading the forms sssslllloooowwwwllllyyyyy this time, I note that it says:

"Possibly. The following countries have additional requirements in order to send a wire".

Thailand:

THB: Beneficiary's tax ID. The reason for this payment.

So the key being "possibly", not "required".

So I will include a reason and send it off to my BKK Bank, with swift code and see.

I can only hope this gets easier as I become familiar living with feet in 2 countries.

Thanks

[rmacdon61]

Well money sent off by Swift. Bank agreed no tax number as they assume if recipient is a national a tax number is required, not a tourist. Explanation was included in the note section to BKK Bank.

So we'll see when I get there.

Thanks all

[changraider]

Well money sent off by Swift. Bank agreed no tax number as they assume if recipient is a national a tax number is required, not a tourist. Explanation was included in the note section to BKK Bank.

So we'll see when I get there.

Thanks all

Assuming the currency conversion will take place in Thailand (which it will do unless you've instructed your Canadian bank to convert before sending) you may find that your Thai bank needs to contact you for your approval of the exchange rate - if the amount is over about 20k Euros equivalent. Good luck!

[rmacdon61]

Well money sent off by Swift. Bank agreed no tax number as they assume if recipient is a national a tax number is required, not a tourist. Explanation was included in the note section to BKK Bank.

So we'll see when I get there.

Thanks all

Assuming the currency conversion will take place in Thailand (which it will do unless you've instructed your Canadian bank to convert before sending) you may find that your Thai bank needs to contact you for your approval of the exchange rate - if the amount is over about 20k Euros equivalent. Good luck!

For whatever reason, my bank said they had to convert before sending? Guess confused and lucky go together

The exchange rate is hurting now with the Thb up, was told 28.? today. Should have converted a couple of months ago when the loony was doing well.

[changraider]

Well money sent off by Swift. Bank agreed no tax number as they assume if recipient is a national a tax number is required, not a tourist. Explanation was included in the note section to BKK Bank.

So we'll see when I get there.

Thanks all

Assuming the currency conversion will take place in Thailand (which it will do unless you've instructed your Canadian bank to convert before sending) you may find that your Thai bank needs to contact you for your approval of the exchange rate - if the amount is over about 20k Euros equivalent. Good luck!

For whatever reason, my bank said they had to convert before sending? Guess confused and lucky go together

The exchange rate is hurting now with the Thb up, was told 28.? today. Should have converted a couple of months ago when the loony was doing well.

Banks, arrgh what can we say! Your bank doesn't have to convert first, but they will make more money on the deal that way, as they will get the fx fee ;-) no problem either way, cheers.