Snake on side of road On Nut

[petercr]

I am married to a Thai and would appreciate some comment on transferring funds from Thailand to Europe, the amount would be about 12Mil Bht, mainly from our property sale

I have a record of transfers from Europe in my Thai bank book but no other formal records.........obviously I could show historic debits from my European bank statements with corresponding credits in Thailand to account for all the money. Would that record between banks be sufficient for taking money out of the country??.......................OR

Would it be a better option for my Thai wife to make the transfer to our joint account in Europe or are there restrictions on overseas transfers which apply to Thai's

Thanks in advance for any advice

[soundman]

Yes, there are restrictions, or at least burdens of proof on Thai's. They will most likely be asked to show where the money came from.

Moved to banking forum.

[SamMunich]

Why don't you take it back to Europe as cash money?

No hassle with explaining, where you got it from, what you intend to do with it, etc.

And best of all you don't make the banks rich, as they will charge you half a fortune for a banking transfer. First the Thai banks will want it documented, whether the money is legal and legally yours, then they charge you.

I recently took cash money across borders, way above the stated limits. I had to press the officials to document my taking in and taking out of money, both in Asia as also in Europe. They simply don't want to be bothered with this! So take your money as cash and travel! I will do that in the future as well!

As long as you don't act suspicious, nobody will know, what you got in your pocket(s).

Just make sure it's not in the checked-in luggage!!!

[elektrified]

I would be very careful with "joint bank accounts". ALWAYS keep separate accounts.

[HullyGully]

I understand if you can prove the money coming into Thailand, then you can transfer the same amount out.

If you, you can transfer around 1.5 m Baht without any problems... you would have to make several transfer over a few months

The above info came from Bangkok Bank

[MrRealDeal]

Why don't you take it back to Europe as cash money?

No hassle with explaining, where you got it from, what you intend to do with it, etc.

And best of all you don't make the banks rich, as they will charge you half a fortune for a banking transfer. First the Thai banks will want it documented, whether the money is legal and legally yours, then they charge you.

I recently took cash money across borders, way above the stated limits. I had to press the officials to document my taking in and taking out of money, both in Asia as also in Europe. They simply don't want to be bothered with this! So take your money as cash and travel! I will do that in the future as well!

As long as you don't act suspicious, nobody will know, what you got in your pocket(s).

Just make sure it's not in the checked-in luggage!!!

That one of the top 10 most inaccurate and foolish posts I have seen in a long time. First off you would be breaking an number of Laws for no reason , second off the idea that only suspicious people get searched is also just plain wrong. It's absurd to advise someone to transfer money illegally just because they might get away with it. Just follow the laws and get the best deal you can.

It's also against Forum rules to advise people on how or why to do things illegally.

Edited November 25, 2012 by MrRealDeal

[h90]

Why don't you take it back to Europe as cash money?

No hassle with explaining, where you got it from, what you intend to do with it, etc.

And best of all you don't make the banks rich, as they will charge you half a fortune for a banking transfer. First the Thai banks will want it documented, whether the money is legal and legally yours, then they charge you.

I recently took cash money across borders, way above the stated limits. I had to press the officials to document my taking in and taking out of money, both in Asia as also in Europe. They simply don't want to be bothered with this! So take your money as cash and travel! I will do that in the future as well!

As long as you don't act suspicious, nobody will know, what you got in your pocket(s).

Just make sure it's not in the checked-in luggage!!!

And if someone cares about it, they confiscate the money....so the problem how to transfer it is also solved

[inapeartree]

This looks the easiest way http://www.bangkokbank.com/OnlineBanking/PersonalBanking/iBanking/BualuangiBanking/Services/pages/ift.aspx

Surely if a Thai is sending money overseas they don't need to prove where it came from? The limit is higher for Thais and fees are reasonable.

[purushanti]

Why don't you take it back to Europe as cash money?

No hassle with explaining, where you got it from, what you intend to do with it, etc.

And best of all you don't make the banks rich, as they will charge you half a fortune for a banking transfer. First the Thai banks will want it documented, whether the money is legal and legally yours, then they charge you.

I recently took cash money across borders, way above the stated limits. I had to press the officials to document my taking in and taking out of money, both in Asia as also in Europe. They simply don't want to be bothered with this! So take your money as cash and travel! I will do that in the future as well!

As long as you don't act suspicious, nobody will know, what you got in your pocket(s).

Just make sure it's not in the checked-in luggage!!!

If I had that kind of money, I would be concerned that some offical would call a buddy, perhaps outside the airport, to lessen the load. But maybe that is paranoia. Up to you!

Also, it seems that regulations and laws are tending to be same-same (excuse my Thai again!) in many countries, as there is a push toward one world sameness. So, if a country across the pond does something, the next thing you know, a lot of other nations may be picking up the idea. Therefore important to to keep up with the latest regs.

And, it is not just a matter of security people, nor of Immigration people, but Customs officials also. Their regs may even conflict with one another.

The bottom line is always to be compliant, but one needs to know what the latest regs are to be complied with, leaving arriving, and even transitng thru a third spot.

Finally, there have been cases in traveling where that which has not been declared is confiscated.

There is another forum, free also, where expats, and wanna-be expats discuss such topics---International Man.

[SamMunich]

Well, MR. RealDeal, if you think my experience is "That one of the top 10 most inaccurate and foolish posts I have seen in a long time. " then may I just return this compliment?

Inaccurate? How can experience be inaccurate?

Foolish? Foolish is to work hard for money and then have it taken away by people, who think they can get away with everything, just because they wear a uniform (even if it's a bank uniform).

I was just posting something that happened and offered my advice. It you or anybody else takes it or not, that's totally up to you.

Is somebody is too scared to carry larger amounts of cash with her/him, then simply don't do it...

If customs at several airports and in several countries don't give a sh*t about whether you bring in money in excess of what they (!) allow, then it's completely up to you, whether you go legal or not. I don't urge anybody to act this or that way, but I point out, what is possible in a given situation...

Unless somebody snitches you to customs, it is very unlikely that you get checked. In addition there are a few tricks I learned from a customs person many years ago, who told me, what customs staff are normally looking for. If they pick out every 100th person, and that is you, then that's tough luck, I agree.

But Inaccurate? Foolish? Hardly!

And about the fear of being robbed by a buddy of an official? More likely, if a customs guy is corrupt enough and calls up a friend and gives that guy your description. My point is, that if nobody knows what you have with you, then nobody bothers with you.

Finally I always get amused, if people try to tell others to stay legit and pay taxes etc. Most times the ones telling others are the rich and corrupt ones or fraudsters. Only they often are the ones, who avoid taxes and bend the law as they like. Example needed? There are plenty of them in Thailand and the rest of Asia, even in Europe or the U.S. of A., e.g Greek shipowners, who boast on TV, that they never paid any taxes!

It is always the honest ones who get shaved! I promise to get 100% legit, when all those big-shot fraudsters get legit as well. (And no, I didn't say "Taksin"!) Until then I will occasionally (!) take a shortcut, period!

Glad to be alive and kicking,

Sam M.