How Can You Take Money Out Of Thailand

[Longsands]

A Japanese guy bought a condo in BKK about 5 years ago. Recently sold it for 6 million baht making no profit. Now the guy is back in Japan and TFB or rather Kasikorn Bank won't transfer the money to him in Japan, nor transfer it to his company's business account in Thailand ( he still has the company as a going concern.). He doesn't know why. Can anyone shed some light on this?

Thanks.

[Membrane]

He needs to get a document called a "Toto Sam" from the Thai bank. This proves the money came in to Thailand from a foreign source and it's purpose was for the purchase of the condo. This document will allow the bank to transfer the money back out of the country.

It's either that or .... lots of daily ATM withdrawals--but that would take a while!

[Longsands]

Thanks Membrane, I'll pass that on.

My initial advice was for him to use his ATM until I was informed of the amount!

I'm helping out a friend of a friend so the information available is a bit sketchy, but what if the money to purchase the condo actually came from the profits of the company in BKK? Interestingly the bank have refused to transfer the money to the company's Thai-held business account. I thought he could have absorbed it back into the company. Any idea why they would refuse to release the funds?

Thanks again.

[george]

5,000 or 10,000 USD in travellers cheques at different banks/branches would be no problems. Show an outbound flight ticket and say that you will go on holiday and need TC's!

[dr_Pat_Pong]

5,000 or 10,000 USD in travellers cheques at different banks/branches would be no problems. Show an outbound flight ticket and say that you will go on holiday and need TC's!

You old crook George

[NedKelly]

He can take out 10,000 US in cash but he would need to do this about 15 times to cover the whole amount. He can also set up a contact in Japan who can send bogus invoices to him or someone else in Thailand, so these can be used at the bank to transfer monies. As far as I know, you have to show an invoice for costs for something back home. The you can transfer the money to 'pay' the invoice. It would be smart not to have your own name on the invoice, but you could use a trusted source such as your brother/sister/ mother etc. with a seperate bank account. then just transfer the money into his own account back home.

Dont quote me on this....you should check it with the bank.

Ned

[dr_Pat_Pong]

He needs to get a document called a "Toto Sam" from the Thai bank. This proves the money came in to Thailand from a foreign source and it's purpose was for the purchase of the condo. This document will allow the bank to transfer the money back out of the country.

It's either that or .... lots of daily ATM withdrawals--but that would take a while!

Tor Tor 3

[hermit]

Checks.

I go to my local branch of Ayudhya Bank and pay a service charge of 103 baht for them to issue a bank draft from Citibank in American dollars. The last 2 checks I got were for $1800 and $1295 -- on the same day. I don't have an account there and they never ask for identification. I've gotten quite a few checks there over the past 18 months and not once have they asked for a passport or cared that I'd done it before. I could put any name on the check request form! I've also gotten checks in pounds and other currencies.

On the other hand, I used to get checks from Thai Military Bank in another city and they use to scrutinize every dot & dash. Took my passport and always made me return a couple times until the bank manager got off the golf course and came in to review it and okay it.

Not all banks are created equal... especially in Thailand!

[troy04]

Hi,

Thai Farmers or new Kasikorn Bank can change your account from the old fashioned, bank book run style to an e-account or what ever it is called, you got a book but can not see the transactions in it (good for visa application when u put the required money only for a few days on the account - u need a letter for 100 baht instead of bank book showing amount - not all immigration officers are aware of this kind of account do) , so with that e-account you can see/print your transactions on the ATM machine and...the best for this case here, you can withdraw 250'000 baht a day! While the normal account let you take 2x20'000 a day at probably all the banks.

I dont know if any other bank got the same. You also can transfer amounts up to 200'000 or so to another account from (same) Kasikorn Bank without commission. While if u transfer with ATM card from/to other bank you're limited to 20'000 a time and it cost something like 20-30 baht commission each time.

Another hint: if your bank ask you to close the account / or dont let u open one because you dont have a work permit -> they are wrong! after calling the main branch my bank had to close my account but could open a new one immediately where they dont have to justify to thai bank about the amounts and therefor need no work permit!