Transferring From Nz Bank To Thai Bank

[SlyAnimal]

1) Foreign Currency

Foreign currencies can be brought into Thailand without limit. Any person receiving foreign currencies from abroad is required to sell such foreign currencies to an authorized financial institution or to deposit them in a foreign currency account with an authorized financial institution within 360 days from receipt, except foreigners temporarily staying in Thailand for not more than three months, foreign embassies, and international organizations.

Foreign exchange purchase or hedging with authorized financial institutions is generally available where a genuine underlying current or capital transaction exists.

Ok I was reading the pinned topic, but with all of the posts and what not I'm a little bit confused and not sure which apply to my situation. Was reading something about needing specific purposes and having to get a certificate or something when you transfer money in. Is that only when you transfer into a foreign currency account? Or when you transfer it into a Thai Bhat Bank Account aswell??

As I want to transfer some money from my NZ Bank account, into my Thai Bank Account. Are there any complications with it? And do I just use the exchange rate which my bank in NZ gives me? Or the ones which someone posted from this site (http://bankexchangerates.daytodaydata.net/default.aspx)

And are there any additional fees usually? My bank said that there might be, but that they didn't know and was upto the Thai banks, but they only charge a flat fee of $20 (500THB) I think. Likewise, as I'm going to transfer a decent sized amount, is there a better way to do it? So that I can maybe pickup a better exchange rate.

Thanks for any assistance.

[Daveroc]

_{There are no complications in transferring funds from New Zealand to Thailand. Suggest you transfer the New Zealand dollars here and have your Thai Bank do the conversion. You will likely get a better rate. To confirm this, Look at the TT Sell rate for Thai baht on your NZ Bank website and the TT Buy rate for NZD on your Thai Bank website. Do the calculations. If you are bringing funds into Thailand that you may wish to send back out at a later date, it is advisable to ask your Bank for a Foreign Exchange certificate. This is evidence you brought the money in and are generally issued for amounts equivalent to USD20,000 or more.}

_{The charges will be in the region of NZD20 by your NZ Bank and will be .25% of the amount transferred with a minimum of 200 baht and maximum 500 baht by the Thai Bank.}