A couple of questions.

I will be selling my French house later this month. Some of the proceeds I want to transfer into my Kasikorn bank account (2 million baht).

I have a retirement visa, extended for the past 6 years or so.

Are there any questions asked as to the source of the money by the bank or Thai authorities - or is it a straight forward operation with 2 million

deposited no questions asked?

If there are questions asked, I wont be in Thailand for about 3 weeks after the transfer of money.

Second question - I propose to use a company called Halo Financial - Has anyone used them, if so, how do you rate them?

Thanks

banK

Have you transferred money before from Europe to Thailand ? If not, then first transfer something like 100 EURO and see if it arrives.

When I bought my Condo's I never transferred all the money in 1 go, but spread it over 3-4 times. 2 Million THB is around 50.000 EURO's so transfer each time around 12.5k or more, but there is one disadvantage to this that each time when you transfer you pay the costs for the transfer (for my European Bank it costs around 23 Euro's to Transfer 12.5k )

Ps: Can you check your Kasikorn account while you are still in Europe ?

Edited August 14, 201213 yr by MJCM

Have you transferred money before from Europe to Thailand ? If not, then first transfer something like 100 EURO and see if it arrives.

When I bought my Condo's I never transferred all the money in 1 go, but spread it over 3-4 times. 2 Million THB is around 50.000 EURO's so transfer each time around 12.5k or more, but there is one disadvantage to this that each time when you transfer you pay the costs for the transfer (for my European Bank it costs around 23 Euro's to Transfer 12.5k )

Ps: Can you check your Kasikorn account while you are still in Europe ?

I just transferred 100 Euros to Bangkok Bank, so it should arrive later this week. I'll then transfer larger amounts, but not all at once. I also do a test transfer of 100 Euros when transferring somewhere abroad that i haven't transferred n the past. Better safe than sorry. I also transfer odd amounts so that they are easier to find if they go missing. So instead of transferring 10,000 Euros, I'd transfer 10,067 or something similar.

To the OP - it's always been straightforward for me. I transferred 1m baht last year and no-one asked any questions. Last time I converted the money to Thai baht before sending. But this time I'm sending Euros, as I've been told I'll get a better exchange rate when the money arrives. So testing a small amount just in case it gets lost/rejected.

Edited August 14, 201213 yr by davejones

I just transferred 100 Euros to Bangkok Bank, so it should arrive later this week.

<snip>

When I transfer money from my European Bank Account (lets say 3pm Thai Time) it's usually here early morning the following working day (however Banks usually say it will arrive within 2-3 days, just to be on the safe side)

I just transferred 100 Euros to Bangkok Bank, so it should arrive later this week.

<snip>

When I transfer money from my European Bank Account (lets say 3pm Thai Time) it's usually here early morning the following working day (however Banks usually say it will arrive within 2-3 days, just to be on the safe side)

Well I'll let you know if it arrives tomorrow. Took 2 days from Croatia to UK, 2 days from Sweden to Croatia. So if it arrives tomorrow it means that Thailand has a more efficient banking system than the UK.

Have you transferred money before from Europe to Thailand ? If not, then first transfer something like 100 EURO and see if it arrives.

When I bought my Condo's I never transferred all the money in 1 go, but spread it over 3-4 times. 2 Million THB is around 50.000 EURO's so transfer each time around 12.5k or more, but there is one disadvantage to this that each time when you transfer you pay the costs for the transfer (for my European Bank it costs around 23 Euro's to Transfer 12.5k )

Ps: Can you check your Kasikorn account while you are still in Europe ?

Yes, over the past 6 years or so I have transfered on a regular basis maybe 4000 pounds every 3 or 4 months - no problem with the transfers always arrive. Also, have internet banking with Kasikorn so am able to check remotely.

The reason I asked the question of a 2 million baht transfer - I have not done such a big transfer before and was wondering whether there are any restrictions on incoming money to Thailand i.e. having to prove where the money origniates from (money laundering).

I just transferred 100 Euros to Bangkok Bank, so it should arrive later this week.

<snip>

When I transfer money from my European Bank Account (lets say 3pm Thai Time) it's usually here early morning the following working day (however Banks usually say it will arrive within 2-3 days, just to be on the safe side)

Well I'll let you know if it arrives tomorrow. Took 2 days from Croatia to UK, 2 days from Sweden to Croatia. So if it arrives tomorrow it means that Thailand has a more efficient banking system than the UK.

No, it didn't arrive.

Have you transferred money before from Europe to Thailand ? If not, then first transfer something like 100 EURO and see if it arrives.

When I bought my Condo's I never transferred all the money in 1 go, but spread it over 3-4 times. 2 Million THB is around 50.000 EURO's so transfer each time around 12.5k or more, but there is one disadvantage to this that each time when you transfer you pay the costs for the transfer (for my European Bank it costs around 23 Euro's to Transfer 12.5k )

Ps: Can you check your Kasikorn account while you are still in Europe ?

Yes, over the past 6 years or so I have transfered on a regular basis maybe 4000 pounds every 3 or 4 months - no problem with the transfers always arrive. Also, have internet banking with Kasikorn so am able to check remotely.

The reason I asked the question of a 2 million baht transfer - I have not done such a big transfer before and was wondering whether there are any restrictions on incoming money to Thailand i.e. having to prove where the money origniates from (money laundering).

there are no restrictions and nobody asks you anything concerning origin. all you have to do is stating "for personal use" or "living expenses". if the sender and beneficiary are the same person the question of money laundering does not apply. not that any Thai bank would care!

p.s. having said so, the situation might change soon and a few stupid questions might be asked but are easily answered.

Edited August 15, 201213 yr by Naam

Have you transferred money before from Europe to Thailand ? If not, then first transfer something like 100 EURO and see if it arrives.

When I bought my Condo's I never transferred all the money in 1 go, but spread it over 3-4 times. 2 Million THB is around 50.000 EURO's so transfer each time around 12.5k or more, but there is one disadvantage to this that each time when you transfer you pay the costs for the transfer (for my European Bank it costs around 23 Euro's to Transfer 12.5k )

Ps: Can you check your Kasikorn account while you are still in Europe ?

Yes, over the past 6 years or so I have transfered on a regular basis maybe 4000 pounds every 3 or 4 months - no problem with the transfers always arrive. Also, have internet banking with Kasikorn so am able to check remotely.

The reason I asked the question of a 2 million baht transfer - I have not done such a big transfer before and was wondering whether there are any restrictions on incoming money to Thailand i.e. having to prove where the money origniates from (money laundering).

there are no restrictions and nobody asks you anything concerning origin. all you have to do is stating "for personal use" or "living expenses". if the sender and beneficiary are the same person the question of money laundering does not apply. not that any Thai bank would care!

p.s. having said so, the situation might change soon and a few stupid questions might be asked but are easily answered.

Thanks Naam for the concise reply

banK