Random RCBO Trip...What Next?

[samuiseagull]

Hi folks

Have got a lump sum in Thai Baht that I need to get from My Thai Bank Account back over to the UK.

It should be a relatively simple process anywhere else but this is Thailand!!!

Are my requests to be greeted with a look of amazement at the Thai Bank or will my doubts be cast away in a matter of seconds??

Obviously an electronic transfer would be the safest and easiest way of doing this. However, i've also had the idea in my head of changing it

all back up into STERLING before i depart back to the UK as i'd get a more favourable rate within Thailand.

So,

1) Electronic transfer - easily done by the Banks in Thailand?? Do they send as Baht or Sterling??

2) Could the Thai Bank give it to me in cash in STERLING with some advance notice??

3) Do I just take it all out myself in Baht and exchange in Thailand back to STERLING over a period of time??

Many thanks for your help.

[CharlieH]

Electronic transfer is the safest and what I would recommend.

You shouldnt have any problems but dependant on the amount you may be required to state where the money came from ? as they are suspicious and and dont like large amounts being transferred out of the country. If it is from the sale of property etc (as an example) and you can prove it then no worries.

[theoldgit]

Last year I needed to transfer 5,000 Baht from my bank, Kasikorn,I was asked for proof of what the money was for, it was a club subscription, copies of my passport, I was in my branch and they they ask for a copy of my passport almost every time I want to do anything, I'm sure they would ask for my passport if I wanted to use their toilet - they must have a storeroom in Bangkok full of copies of passports.

They then wanted a passport copy of the recipient in the UK, and seemed suprised when I couldn't produce it.

I had to explain the reason I wanted to send a hundred quid to three different bank employees also explaining that I didn't have a copy of their passport.

Eventually they sent it off to their HQ, and a few days later I got a call asking the same things again. The following day I got a further call saying the recipient was on a "watch list" and they needed further details. The irony is that the recipient is a senior member of staff for a branch of the UK Secuirity Service and I doubt very much if he is on any watch list.

I really wonder what would happen if I wanted to send a large sum.

[BuaBS]

I have the same problem. I want to get money back to europe but how ?

Paper money : You exchange THB for Euro's , you pay 1,5 % av for the exchange . But what do you get ? A high amount in 50 's and 100's ? Then you come in your country and there are fake notes , they don't give them back and you lose.

Thais check the UV security , but not much more. In a packet of a couple of hunderd notes , there are going to be counterfeit notes. And another thing I noticed, Thai banks write on received foreign notes...

Option 2 : transfer.

You need a FCD account ( foreign currency deposit account) , which if you live in the province , is not always possible.

You get much better exchange rates ( TT rates) , but if you transfer it to europe , you pay 0,5 % commision fees and

about 500 B fee.

If you are living in a overtaxed country like mine , Incoming money over 10.000 EUR is investigated...

You need to leave a minimum amount of foreign currency on the account , or you will be fined by the bank.

If you still want notes out of your FCD account , you pay 1 % commision and the same problem of counterfeit notes,

but nobody knows you bring it back to your country.

If you don't have online banking , which for a thai account , I certainly don't trust , it is a pain to get the dummies at the

local provincial headoffice of the bank to do the transfert .

Ideal for me would be GOLD. As I don't want USD or EUR ,... It is easy , small and 1 little kg is already arround 1,6 M THB. But in a country full of scams , as a farang you are going to get screwed and in thailand of course you have no rights. Also , it is hard to get 99,99 % bars. Lower 99,95% or less , and if they are real , you going to get less , selling them in europe because they have to be refined to 99,99 %

So for the ones who brought in money years ago , when you could still buy land ( company) , and want it out of Thailand , we're scewed between high costs ( exchange rates , transfer fees,...) , stupid Thai banks , and the tax man back home who is going to think

that I earned it here , and want their cut .

Why do I want it out of Thailand? No need to keep so much money here , spiecing up the profit of Thai banks with my money (I hate banks) , And while the EUR and USD are down the drain , THB will be following with what this government is doing and has planned. Only Thailand is a small country compared to USA or the euro zone , and the THB could fall a lot harder.

Yes there are easier ways , like western union.... But that is only when you want to pay an arm and a leg and bend

over.... And same papertrail to your account back home.

Edited January 8, 2012 by BuaBS

[highchol]

if you go to the money changer there are no fees that iam aware of. I had concerns about fake notes but my recent experience was good, no fakes found ( uk £ pounds )

[nahkit]

I transferred £7,500 sterling from my Bangkok Bank account to my account in the UK without any problems at all. They wanted to see my passport, which they ask for almost every time I go in there. There was a form that I had to fill out and one of the questions it asked was the purpose of the transfer but everything was very straight-forward. The lady then quoted me the current exchange rate, filed out a withdrawal slip in baht for the equivalent amount plus a 500 baht charge.

The money was in my UK account within 24 hours which was a very pleasent surprise. All in all, a good experience with Bangkok Bank.

Edited January 8, 2012 by nahkit

[BuaBS]

I transferred £7,500 sterling from my Bangkok Bank account to my account in the UK without any problems at all. They wanted to see my passport, which they ask for almost every time I go in there. There was a form that I had to fill out and one of the questions it asked was the purpose of the transfer but everything was very straight-forward. The lady then quoted me the current exchange rate, filed out a withdrawal slip in baht for the equivalent amount plus a 500 baht charge.

The money was in my UK account within 24 hours which was a very pleasent surprise. All in all, a good experience with Bangkok Bank.

I'm at the Bangkok bank too.

Withdrawel of EUR or GBP via draft or SWIFT , 0,5 % commision , 500 B minimum, so for 7500 pounds = 37,5 GBP or about 1800 THB.

Or was it to your Bangkok bank account in GB?

Not only is it on their website ,http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Transaction%20Accounts/Foreign%20Currency%20Account/pages/fcd%20fees.aspx but last time I was in BKK , I also asked .

So you transfered 7500 GBP ( from your FCD account ?) to GB , and only paid 500 B ?

No fees in GB ?

For the others : when I mean exchange fees i.e : the difference between the real spot forex (http://www.xe.com/ucc/convert/?Amount=1&From=EUR&To=THB ) and the amount you receive for your notes or have to pay more to buy back EUR or GBP notes.

A "good " bank gives you 1% less from forex spotprice for notes and about 1,5 % more from spot if you sell THB for EUR or GBP. This means if you change 1.000.000 THB for USD/EUR/GBP their commision is more than 15.000 THB ! If your exchange THB on your account to your FCD account , you get the TT-rate , you "only " pay about 10.000 in exchange fees.

If you are with a broker , and want to convert 100.000 EUR to USD , I pay 8 $ commision on the spotprice ! 1 % like the best of the banks that's 1.000 $ !

[Phatcharanan]

I go along with Nahkit's post. I transferred 450,000 Thai baht to my bank in Qatar and only had to provide passport (everytime) and reasons for doing this. No problem at all and this is with Kasikorn Bank at the The Mall, Bang Kae, Bangkok.

[Chivas]

Assuming cash is currently in a bank withdraw over time ensuring you keep withdrawal paperwork and change back into Sterling from one of many private money changers.....

Walk back into the UK ensuring you have paper trail with you.....No problem.

[PattayaParent]

Show the banlk your work permit and there's no problems at all.