Bangkok Bank - Swift To Uk

[breadbin]

So, many posts on sending money to and from UK etc.

Here's my comment /question.

I know that (apparently) you can send up to max $20,000 or its equivalent without the necessary permission from Bank of Thailand.

So, how many of these transfers can be made in a day, week etc.?

As an example, can someone send the maximum to their daughter and then the same day send the maximum to their son in law?

Can this then be done again the next day and so on until a certain amount of money is sent to UK? I am talking about 5 million baht so quite a few transfers at say £12,500 per time to daughter and son in law.

Any comments or experiences of this?

Can it be done?

Yes? There'll be multiple transfer fees but that's ok.

Thanks.

[davejones]

I transferred about 1.5 million baht over a few days from Bangkok Bank to UK. No problem at all. No mention was made of any limits. I think it's easier to transfer money out than most people seem to think. Probably those that think it's difficult have never done it.

[darrendsd]

Pretty sure the rule has been changed recently to no limit?

[breadbin]

Thanks for your reply Darren.

I'm an still being told different things by the BKK bank in Udon Thani and BKK bank in London.

We're very unhappy with the lack of clarity and what seems utter rubbish in what is being requested such as documents,

If you've got any site to visit regarding any limits etc. I'd like to see them

Cheers again

[darrendsd]

I'm sure there was a thread on here not so long ago with a link to a article that said they were changing it to no limit

Wether that has happened yet I don't know

Send a PM to TV member ianguygil, he works for BB and comes on here sometimes to assist Farangs needing advice

Edited May 3, 2013 by darrendsd

[breadbin]

Nice one, thx, BKK bank is where I am having all my troubles.

[Rimkok]

$50,000 a day

$100,000 a month

$500,000 a year

It can be done online. Go to their website download the form for setting up a payee abroad. Fill it in and take it to your branch. They will send it to head office. One week later check your international payee list at it will be there. Reason for transfer I gave was "salary repatriation". I sent back 3.2 million recently. It took 3 days. Check the exchange rate first and go a little under to allow for fluctuations.

I hope this helps. Cheers

[Pib]

$50,000 a day

$100,000 a month

$500,000 a year

It can be done online. Go to their website download the form for setting up a payee abroad. Fill it in and take it to your branch. They will send it to head office. One week later check your international payee list at it will be there. Reason for transfer I gave was "salary repatriation". I sent back 3.2 million recently. It took 3 days. Check the exchange rate first and go a little under to allow for fluctuations.

I hope this helps. Cheers

Good info, but it appears you have to have a work permit/be working (i.e., for salary repatriation purposes) to get this ibanking payee approved. Link

[fotog]

International Funds Transfer via Bualuang iBanking

Bualuang iBanking is a great way to transfer money overseas securely, quickly and conveniently. The service requires a one-time registration set-up, including beneficiary registration – transfers can then be made on demand at your own convenience.

Funds can be transferred for any number of reasons, depending whether you are a Thai national or foreigner working in Thailand:

For Thai nationals

• Educational expenses
• Family support
• Living expenses
• Payment for goods
• Payment for services
• Travel expenses
• Personal expenses
• Gift
• Donation

For foreigners

• Salary repatriation

So what is the procedure if you are retired and do not have a work permit? Lets say you transfered several million THB at various times over a period of years into your Bangkok Bank account:

How do you transfer it out of Thailand?

When you sell your condo, how do you transfer the money out of Thailand?

[breadbin]

Had a message from the BKK vice pres, really nice of him to resond to my message seeing as he has no idea who I am.

Anyway, the saga so far is this.

My wife spoke to BKK bank in Udon today again. They confirmed what documents she needed to fax to her mother to give to the bank. She'll fax tomorrow. She was told that the swift transfer fee was 400bt. She queried this as it seems low but it was confirmed that this was the fee.

I spoke to Nationwide here in UK and they confirmed with me that if the cash is sent in GBP there is no charge this end.

So, on Monday the Mother in law will go to the bank again (5th time) to give all requested documents and complete the forms if needed, change the THB into GBP and forward it to us in the UK.

I'll report back with the experience on Monday.

Thanks for all posts and thanks for the Thai Visa member name who is very high up in BKK Bank.

Ian, if you read this, thanks for your contact. I have replied to your work email and via this website.

Thanks again all.

[Rimkok]

$50,000 a day

$100,000 a month

$500,000 a year

It can be done online. Go to their website download the form for setting up a payee abroad. Fill it in and take it to your branch. They will send it to head office. One week later check your international payee list at it will be there. Reason for transfer I gave was "salary repatriation". I sent back 3.2 million recently. It took 3 days. Check the exchange rate first and go a little under to allow for fluctuations.

I hope this helps. Cheers

Good info, but it appears you have to have a work permit/be working (i.e., for salary repatriation purposes) to get this ibanking payee approved. Link

I don't have a work permit. I did notice that and I was not asked. Perhaps I got lucky.

[Pib]

Yeap, I expect you got lucky. Every time I've opened a Bangkok Bank account a three different branches I've been asked do I have a work permit (they seem to like a person having a work permit)...I say no and say long term/1 year visa and Yellow Book...they make copies of everything and then open the account.

From my experience with Bangkok Bank and how they seem to follow the rules closely, I'm surprised they let a farang without the required work permit/employee letter/etc., since supposedly only one reason exists to authorize ibanking international transfers on Thai bank ibanking and that is salary repatriation to be proven via the necessary paperwork (i.e, work permit, etc). However, for Thai's there are a bunch of acceptable reasons as shown in the Bangkok Bank link.

Edited May 5, 2013 by Pib

[chiang mai]

International Funds Transfer via Bualuang iBanking

Bualuang iBanking is a great way to transfer money overseas securely, quickly and conveniently. The service requires a one-time registration set-up, including beneficiary registration – transfers can then be made on demand at your own convenience.

Funds can be transferred for any number of reasons, depending whether you are a Thai national or foreigner working in Thailand:

For Thai nationals

• Educational expenses
• Family support
• Living expenses
• Payment for goods
• Payment for services
• Travel expenses
• Personal expenses
• Gift
• Donation

For foreigners

• Salary repatriation

So what is the procedure if you are retired and do not have a work permit? Lets say you transfered several million THB at various times over a period of years into your Bangkok Bank account:

How do you transfer it out of Thailand?

When you sell your condo, how do you transfer the money out of Thailand?

When you sell your condo you will be issued with a blue reciept by the Land Office showing the amount of tax paid on the sale and the value of that sale, use that blue reciept to transfer funds out, up to the limit shown on the reciept - the banks know all about this. (Note: if you lie about the sale value in order to pay less tax, that will be reflected in your inability to repatriate all your funds).

[Pib]

Yea, there a different rules and supporting required docs for special international transfers like repatriating money from a residence sale which you would initiate in the bank at the counter compared to getting international transfer capability to a certain overseas account added to your Thai bank ibanking,

[highchol]

Had a message from the BKK vice pres, really nice of him to resond to my message seeing as he has no idea who I am.

Anyway, the saga so far is this.

My wife spoke to BKK bank in Udon today again. They confirmed what documents she needed to fax to her mother to give to the bank. She'll fax tomorrow. She was told that the swift transfer fee was 400bt. She queried this as it seems low but it was confirmed that this was the fee.

I spoke to Nationwide here in UK and they confirmed with me that if the cash is sent in GBP there is no charge this end.

So, on Monday the Mother in law will go to the bank again (5th time) to give all requested documents and complete the forms if needed, change the THB into GBP and forward it to us in the UK.

I'll report back with the experience on Monday.

Thanks for all posts and thanks for the Thai Visa member name who is very high up in BKK Bank.

Ian, if you read this, thanks for your contact. I have replied to your work email and via this website.

Thanks again all.

can confirm its straight forward for thais to transfer from bkk bank and the 400baht fee. No documents required except for the receiving bank details ..iban, swift code, address etc.

mrs recently done the same with approx 5 M baht, spread over a few months trying to benefit from the recent favourable exchange rates. classed as expenses for kids studying. Largest individual tx was for £20K.

All tx were in £

Good info ( for next time ) that nationwide are fee free to receive funds.

Barclays charged £6 each time.

[breadbin]

Excellent comments, thanks

[breadbin]

My wife spoke with a lady today who works at BKK bank in Bangkok dealing with the international transfers and it has been confirmed there should be no problems with the SWIFT transfer on Tuesday.

The fee is 400bt and no other fees apply.

An excellent service on a Sunday.

[fotog]

This has been extremely useful and thanks to all for their input. I do however have one more question in connection with the Bangkok Bank International Transfer application.

Where it says 'Currency', that would certainly mean to transfer out in THB?

Beneficiary Bank Name

ชอธนาคารผ ่ื รูบเง ั นโอน ิ … …SWIFT Code… … …

Beneficiary Account No./IBAN

เลขที่บัญชีผูรับเงินโอน

สกุลเงิน

Currency______ THB? Correct? They will send THB to the beneficiary bank and the Beneficiary Bank will convert it into US Dollars.

I just want to make sure this is correct because of an error that occurred many years ago doing a transfer into Thailand.

[breadbin]

The best thing to do is have your currency exchange sent in the currency of your country, in my case GBP as if I were to send THB to the UK it is then converted in the UK and the rate is a lot worse so I'd get less.

Check it out to make sure but for the UK I always have it sent to the UK in GBP

[highchol]

_Fotog

_{the earlier posts were particulary worded for transfers to the UK where there is less transparency and higher charges levid by UK banks when receiving funds not in £ GBP.}

_{it is better to convert the thaibaht in the thai bank and send £}

_{Not sure if this is the case with european /. US / AUS banks etc}

_{maybe other members have experience with non UK transfers}

[Pib]

The best thing to do is have your currency exchange sent in the currency of your country, in my case GBP as if I were to send THB to the UK it is then converted in the UK and the rate is a lot worse so I'd get less. Check it out to make sure but for the UK I always have it sent to the UK in GBP

Good advice...outside of Thailand you usually don't get a good exchange rate for baht since it's not a widely used/needed currency...pretty much only used/needed in Thailand. Let the Thai bank convert to/send in GBP which will mostly like end up getting you an exchange rate that is several percent better than from your home country bank. Usually a bad idea to let your home country bank convert to baht before sending money to Thailand or letting the home country bank convert from baht to your home country currency for incoming money.

[darrendsd]

So what was the outcome of this Breadbin?

Can you confirm that the transfer out of the country is no limit for farangs no matter what the reason for the transfer?

[breadbin]

Well, as a further report, received my cash yesterday, no issues.

The SWIFT transfer fee was indeed only 400thb. Nationwide took NO fee this end.

I provided scans of the bank statements showing the cash leaving the UK but nothing showing it going into a Thai bank account etc. although it did to buy a property.

I can't confirm anymore than that really.

All I can say is that I had to get a very high up person at the bank to assist, he passed my details to the necessary depth and dept head who passed this to a great lady who my wife spoke with on a Sunday and sorted it out. It shouldn't if been necessary but the lady at the branch in Udon, to be honest was giving. My MIL incorrect information that I knew was wrong and apparently she's had calls from head office.

So, in my case a happy ending as to say.

Thanks

[wooloomooloo]

I'm an still being told different things by the BKK bank in Udon Thani and BKK bank in London. We're very unhappy with the lack of clarity and what seems utter rubbish in what is being requested such as documents...

Attempt a transfer, breadbin. The worst that can happen is a block.

You can only learn by experience.

Don't waste your money phoning call centres.

[breadbin]

As per my above post the transfer was successful. All done.