Transferring Money From Thailand

[Negita43]

I have a Euro account with my Thai bank. At the moment it contains a few Euros from my UK euro account. What I want to know is this:

If I transfer euro money into this account, are there any Thai restictions about tranfering some or all of the money back to the UK at some future date

[Daveroc]

As the money remains in EURO it technically has not entered Thailand. There will be no problems in transferring the funds in any event. you have the evidence that the funds came from offshore.

However, check with your Bank what the rate of commission will be to do the transfer. Because the Bank has not profited by converting it to Baht, often a commission charge of around .25% applies in addition to the SWIFT charges.

[Negita43]

Hi sorry for the delay in thanking you for your reply - I had problems accessing your post yesterday. Just one point - the EURO account is with a THAI bank (Kasikorn) NOT an offshore account with HSBC or someone like that - is what you say still true???

[phomsanuk]

Anyone use HSCB branch in HK?

[Daveroc]

Does not matter which Bank you are with. These are Bank of thailand regulations which provide guidance and oversight to all the Banks registered in Thailand

[chogiekim]

I want to take back about 700,000 baht to uk. What is the best way to do this? Transfer to my uk bank? Would i lose much in the exchange rate?

[Daveroc]

I want to take back about 700,000 baht to uk. What is the best way to do this? Transfer to my uk bank? Would i lose much in the exchange rate?

That depends on what rate you brought it into the country. To transfer this amount out you are best to do it through the banking system. While a few costs, it arrives within 24/48 hours to your account in the UK an is immediately available should you need it.

[chogiekim]

i work here and just saved it over the years. yeah think i will transfer it to my UK account. Do you know how much i can leave the country with in cash if i exchange some into pounds??

[PattayaParent]

i work here and just saved it over the years. yeah think i will transfer it to my UK account. Do you know how much i can leave the country with in cash if i exchange some into pounds??

If you have a work permit just go to your Thai bank and transfer it directly to your UK account.

[chogiekim]

Yeah think that's what i'll do! cheers

[4evermaat]

As the money remains in EURO it technically has not entered Thailand. There will be no problems in transferring the funds in any event. you have the evidence that the funds came from offshore.

However, check with your Bank what the rate of commission will be to do the transfer. Because the Bank has not profited by converting it to Baht, often a commission charge of around .25% applies in addition to the SWIFT charges.

so a work permit would NOT be required to transfer the funds in this case?

"The second best time to plant a tree is today" sent from TV android app (Galaxy Cooper).

[Daveroc]

As the money remains in EURO it technically has not entered Thailand. There will be no problems in transferring the funds in any event. you have the evidence that the funds came from offshore.

However, check with your Bank what the rate of commission will be to do the transfer. Because the Bank has not profited by converting it to Baht, often a commission charge of around .25% applies in addition to the SWIFT charges.

so a work permit would NOT be required to transfer the funds in this case?

"The second best time to plant a tree is today" sent from TV android app (Galaxy Cooper).

Correct. There is evidence the funds were brought into the country and as this is one requirement of BOT that allows the system to transfer money away they can be remitted back out.