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Any Restrictions On The Amount On Money That Can Be Transffered

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Any restrictions or special procedures for transferring large amounts of money to Thailand and any specific way to be sure to get the best rate.

DK

I was required to fill in a Foreign Exchange Transaction Form when I transferred the money in for my house purchase, it says required for amounts over US$20,000 value.

Edited by RabC

Get proper advice, not from strangers on the internet.

Just make sure you put on the remittance what the money is for.

Get proper advice, not from strangers on the internet.

Just make sure you put on the remittance what the money is for.

Mine is not advice I was sent the form by the Thai bank before they would release the money, its a fact.

There are no restrictions on incomming funds although the purpose of the funds must be specified. Transfer your funds to arrive in your home currency and convert into THB in Thailand, also, on ammounts over 1 million the rate is usually negoitiable to some degree so ask for a preferential rate from the Banks Treasury Dept.

Edited by chiang mai

  • Author

Thanks appreciate the responses

DK

Is $20000 a large amount ?

I never filled any form or declared anything for less than $50000 and the banks also didn't ask.

Is $20000 a large amount ?

I never filled any form or declared anything for less than $50000 and the banks also didn't ask.

It used to be $20,000 but the figure was changed either early 2011 or late 2010. Certainly true for SCB as I had an incoming transfer for $30k that i expected to be held up last Autumn time and much to my chagrin it wasn't - and I got stuffed on the exchamge rate. It is now at least $50k.

Bangkok bank required I sign a letter stating the purpose of funds being transferred and what they were from before clearing the transaction, as well as a phone call at the time of the transaction..from them to me, done it twice other than that no issues.

You can transfer any amount from your country to yours or wife/GF accounts in Thailand banks, probably your country's bank needs you to fill in some kind of form if the amount is substantial...happy banking..

You can transfer any amount from your country to yours or wife/GF accounts in Thailand banks, probably your country's bank needs you to fill in some kind of form if the amount is substantial...happy banking..

Wrong, my UK bank were not interested in the slightest, it was the Thai bank that required the paperwork before they released the funds. Read what myself and others have written before wasting bandwidth.

Edited by RabC

It is a few years since I transferred what I consider a large amount but it was well above $20,000 when I transfered the money I put on the form that the funds were for ' House Purchase " I then got a confirmatrion form from my Thai Bank which I was told to keep as evidence should I ever sell my property and wish to return the funds back to where they came from. hope this helps

It is a few years since I transferred what I consider a large amount but it was well above $20,000 when I transfered the money I put on the form that the funds were for ' House Purchase " I then got a confirmatrion form from my Thai Bank which I was told to keep as evidence should I ever sell my property and wish to return the funds back to where they came from. hope this helps

Exactly my experience I concur.

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