Cannot send an international transfer? This can't be true

[dotx]

This isnt to complicated is it. They need a paper saying what its for right? You have a computer just print a invoice..

i sent out $4800 with kbank yesterday no issues as long as you have a invoice or a bill.

SCB bank also asked me for a work permit or to show where I got the money. Kasikorn also asked me for a scan of the passport of the person RECEIVING the money. This wouldn't necessarily be hard to get, but I find all the requirements really annoying.

This is a one-time payment to somebody, so it's not worth it to go through so much trouble. I'd rather do WU if it works.

Strangely, I have sent up to 750,000 Baht out with no problem using K Bank. Also, have had money sent in as well. never any questions.

I have money sent into my Thai account every month and never had a problem. Was the 750,000 baht sent to your own account overseas? I was told the requirements "disappear" if I'm sending money to an overseas account with my name on it. But if I'm sending to somebody else, then I have to show all these papers.

Just tell them where the money came from. If you can't do that, then you've got a problem.

I have a small business in the US and money is deposited into my account here in Thailand every month. I'm not really sure how to show that except for them logging into my account and checking that the money is coming into the account from overseas. I asked about that and they told me "no, show us paper to prove where money is coming from." I asked what papers. Answer: "Pay stub." When I repeated I don't work here, they were really confused.

ETA: Actually, that's not really true. The money is sent from the US into my Paypal account and I transfer it from there to my Thai bank account. Maybe that doesn't qualify as the money coming from overseas?

Edited February 26, 2014 by dotx

[dotx]

Just a case of the bank employee not bothering to read the Bank of Thailand (AMLO) rules. For a walk in customer they only need these details if the amount exceeds B50,000. If you have an account they only need the details if the amount exceeds B100,000. Above these amounts you have to provide details of the transactions, the recipient and what the money is to be used for. The same limits also apply also to Western Union. Which in the case of BBL is situated in some of their branches such as Seacon Square.

However the problem may be that you have to go to the Bank's International Branches in order to send money overseas. I had to send money to pay a medical bill in Australia and was told that I could not do it at my BBL branch in Seacon Square but must go to their International Branch near Central Bangna. This was actually easier as there were no queues.

Any cash transaction worth two million baht or more is required to be reported to AMLO.

• Transactions that are electronic fund transfers or electronic payments involving cash worth one hundred thousand baht or more are subject to AMLO’s reporting requirements.

  Note: Bill payments involving cash worth seven hundred thousand baht or more per one payment are subject to reporting requirements.

• Transactions involving an asset worth five million baht or more are subject to AMLO’s reporting requirements.
• Transactions that are money transfers or electronic payments involving a movable asset worth seven hundred thousand baht or more are required to be reported to AMLO.

This would make a lot of sense. If we're talking about really big amounts of money, then I would understand the extra requirements. But this is a tiny amount. Unfortunately, I'm in Hua Hin, and going all the way to Bangkok to find a larger branch just to send this money seems like way too much work.

[kentfx]

Excuse me? It's MY money.

Apparently not.. perhaps it stopped being yours when you changed it into Thai baht.

Many many countries will not permit you to export their currency, something to think about when bringing it in.

I was surprised to see the list above citing salary repatriation as the only permissible remittance for a foreigner... I thought if one sold a condo, and could show you brought the money into the country for the original purchase (Tor-tor-sam??), you were permitted to repatriate thee money.

When you deposit money into a bank it becomes the property of the bank, and is not yours any longer. This is an agreement you make with the bank when you open an account. In that document, the bank agrees to allow you to withdraw cash up to the amount you deposited when you ask for it. BUT the same document lists in agonizing detail the many circumstances in which the bank may not return the money you've deposited. Almost no one reads the banking agreement when they open an account, and appropriately enough that agreement is typically in very small type and is highly legalistic. In the larger picture, however, there have been thousands of instances of people who have either been unable to retrieve "their" cash in a timely manner, or have been unable to retrieve it at all.

This, incidentally, is why banks are so very wealthy, and are able to make a constant stream of huge investments -- sometimes in rather dicey enterprises. They do not have just the fees they collect to their credit, they quite literally own everything that's been given them.

[Phuketboy]

I went to Bangkok Bank yesterday and transferred Aus $760 to account in Australia no problem at all with no questions asked. The only reason I went to the bank was because my internet banking isn't working at the moment.

[dotx]

I went to Bangkok Bank yesterday and transferred Aus $760 to account in Australia no problem at all with no questions asked. The only reason I went to the bank was because my internet banking isn't working at the moment.

To your own account in Australia or to somebody's else account?

[pennine]

I was told by my Kasikorn branch that if I sold my house for Bt 15 million I could send the money to my overseas account as long as I gave copies of the sale contract and that I brought money in (less then 15 million) to buy the house.

[Arif Khalil]

And if the criteria wasnt in place would be Thailand...Land of money laundering.

This is unfair. Anybody should be allowed to move their money to a generous upper limit by stating any reason whatever one provides in the text box. This is the job of thousands of anti-money launderers to find out who is fair and who is not why banks??

[smccolley]

I have transferred money every month to myself and other people up to 1m baht without ever having an issue from Bangkok Bank. I have done it a few times from Kasikorn Bank as well,. No questions asked. I was really surprised to see the poster having such problem.

[merlen10002]

I bank with the Kasikornbank and have sent money back to Australia every month for over three years to my bank in Australia and to my brothers bank in Sydney Australia and to my mates bank on the Gold Coast, not every branch of the Kasikornbank can send money overseas, in Pattaya the Kasikornbank on Central Pattaya Rd is the only Kasikornbank that can send money overseas, I used the Kasikornbank at Sukhumvit 101 branch in Bangkok, any branch will tell you the branch that will send money overseas, you must have the Bank Name and address, Account Name, Account Number, Bank Code, SWIFT Code.

I never had to give a reason for sending money and always sent it to a personal person and account.

I have all the paperwork but don't want to post that on TV as it has all my personal details, account numbers bank .

I have accounts with the Kasikornbank and find them great to deal with very happy with the service.

[DrTuner]

Get a virtual visa in Kasikorns web bank, connect it to paypal or skrill and transfer the money there.

Thailand has capital controls, which is why I keep my money outside. Visit Singapore and open an account there, it's a civilized country.

[verywierd]

I've sent TT to Singapore from a Bangkok SCB branch with no problems. Filled in the TT form and that was it.

[Skytrain2hell]

I transfer money in and out of Thailand quite often. The thing that Thai banks look for is that you are sending it to yourself. If you do that, then it's ok. Keep in mind that it must be EXACTLY the same name. Middle name initial vs. middle name is not the same.

[dotx]

I transfer money in and out of Thailand quite often. The thing that Thai banks look for is that you are sending it to yourself. If you do that, then it's ok. Keep in mind that it must be EXACTLY the same name. Middle name initial vs. middle name is not the same.

No, the money is going to somebody else. I understand it would be a lot easier if it was to my own account.

[Gnasher328]

How about the exchange companies like Fair-Fx, Exchange-4 Free etc?

[vikingfromnorth]

Yes its true sounds like Thailand - they dont give anything away.

I also heard if you want go abroad it can be hard to get some valuta in the bank

I odnt understand why so many people feel this is a land of paradise,,

Many seems to think this is a modern and democratic country - in fact Thailand in most ways - is on same level as some of the worst countries in Africa-

Uneducated - not clever people - lack of intilligence - and so primitive -

Just look at the violence now - innocent people is victims and attacked by crazy protesters from both side on the street.

This country wil no develope.

Plus add all the cheating and lying and stealing every day,,and if you confron a thai why they are cheating and lying so much - they get upset- they can not handle a situation - loose temper.

But although they seem themself as a kind of asian " upperclass" - how redicilouse.

If foreigners knew how most thais talk about them behind their back - they would not be so crazy to stay in that country..where the staff in a 5 star

hotel hardly cna 5 words together in english and a university degree cant find hes/ her own country on the world map.

a complete sick redicilouse place to spend the last years -

It the woemn yes ? the girls ? the easy lifes ?

what can we use them for ? they dont know anything about other places and are not interested to know anything about it.

Its about to rip us all for as much money as possible - - and its from bottom to top..

forget it, leave and let them swim in their own shit - its their own fault the whole way but easy to blame others. foreigners .

[Tomtomtom69]

This is why most foreign investors or those making regular transfers overseas maintain accounts in Singapore, Hong Kong or other financial centers where such restrictions are not in place and another reason why Thailand will never become an offshore financial hub.

I've been to SCB and despite a work permit they wouldn't allow funds to be sent to a private person without some kind of documentation so I told them nicely to get stuffed and went to Bangkok Bank where they allowed me to make the transfer, with work permit, no problems. I've been able to send money back home to my own account from SCB online no problems though, but there is a procedure of first registering the account requiring copies of your passport, visa, work permit etc. which takes around a week before you can transfer any funds overseas though. For every account that you possess overseas, a separate application needs to be made.

[Jonmarleesco]

It's been a while since I transferred funds overseas from Thailand, though I never had a problem when I did; larger amounts typically did need extra documentation, but $850 is hardly large. But then banks here often work to their own rules, and will change them on a whim - announcing that a cheque which had always cleared upon presentation would suddenly need two months, for example. I should imagine Western Union would work, as it's their only business, but it's expensive.

[philipinphuket]

Absolutely no problems transferring overseas from Kasikorn UNLESS you try to set up on-line in which case they will ask you for the impossible information you mention. Just go in to your own branch, fill in the green form 'Global Outward Application', complete the details and enter the reason for transfer ie: family or if paying a bill attach a copy of an invoice which you can do yourself.

[johnnyk]

I will need to get almost 3 million out, I have paper from my bank showing I brought in about 2 million for house purchase (other amounts brought in small amounts so no FX document).

But, I didn't sell the property, I sold my company so no doc from the land office.

Can I get the 2 million out legally then?

Consensus seems to be that Bangkok Bank is the least hassles, what is the max transfer they will do without a lot of BS?

Thanks to all who can offer some info. PM it if you like.

Edited February 26, 2014 by johnnyk

[Pib]

I have sent money out of the country with no problems at Western Union - just a bad exchange rate plus fees.

BTW, maybe a bit off topic, but has anyone here reversed their pension bsck to the US? I currently have my Social Security deposited directly to Bangkok Bank in NY, thence it is transferred here. But one of the catches, so to speak, is that you must appear in person to collect your funds, (that way, they know it is you and not someone else collecting for years after you pass on), and no atm cards come with this type account. Now I am planning a several month trip back to the US where I still maintain a bank account.and will need the funds whilst there. Any suggestions? Have tried to go on the Social Security site but it never seems to connect, and waiting on the phone can be a long, long wait.

Preaching to the choir but you need to contact the Social Security folks, long phone wait or not, and then give them a routing and account number for your U.S. bank account to get it going in that direction. Or if you travel back and forth a lot, maybe you should switch to the Direct Express debit card to receive your federal benefits like your social security pension; however, they do have a healthy foreign transaction fee of $3 plus 3% of amount withdrawal, but for ATM withdrawals in the U.S. you get one free withdrawal per month and then each additional withdrawal costs 90 cents. See the Direct Express web site for more info. I'm not drawing social security (yet) so I can only speak to what their web sites says.

[VINCENT2012]

Don't use government thai bank .....go to another bank, like foreign bank, even bangkok bank could be ok

now i don't know, perhaps the circumstances have change recently.....it would be good to have more information trough this forum to see what's going on.

[dotx]

Don't use government thai bank .....go to another bank, like foreign bank, even bangkok bank could be ok

now i don't know, perhaps the circumstances have change recently.....it would be good to have more information trough this forum to see what's going on.

What kind of information?

Since this is a one-time thing, I'm just going to go ahead and use Western Union. However, if I ever need to send money out again, I'll give Bangkok Bank a try (even though I don't have an account there).

[crazydrummerpauly]

What's all the fuss about ? Just use Paypal - secure and comparatively cheap, and no questions asked. Been using it for over 5 years with no problem. To avoid bank-hassles i even use it to transfer cash to my lady when needed, even though we live together! Reason - deep in the Paypal data-base there is a handy file which stores all transfers made to any named person, and it is printable. This can be very useful for visa-applications etc. As for it being absolutely free as one poster says, no, that's not right. For 'personal' transfers direct from your bank - NOT from credit-cards which is costly - i pay 25 Baht on a 5,000 Baht transfer - and that might be a fixed amount regardless of the amount transferred - that i don't know for sure. Oh - and her Kasikorn account is the one linked to her Paypal account to receive the transfer. Paypal wins for me because it's so simple and provides such a good record of everything done through it for years. As for the different Thai banks - friends have said that Bangkok Bank is more farang-friendly than Kasikorn, and much more up to speed with international transactions. Maybe it's something to do with the history of the 'Farmer's Bank'.

Edited February 26, 2014 by crazydrummerpauly

[djayz]

I needed to pay a settlement from a legal issue in Europe recently and had the exact same problem with SCB ("foreigner not allowed to send money to other person overseas"). Bangkok bank wanted a work permit (which I don't have at the moment), passport and invoice from beneficiary (which I also don't have.

The next best solution was to give the Eur 1,000 to the missus and she transferred it in her name.

I was frustrated at the whole "round about way" of doing it, but it seems to have worked out okay in the end.

Some people tell me it's to prevent money laundering, others tell me it's to prevent foreigners taking "too much Thai money out of Thailand....".

[ChiangraiTony]

I have sent money out of the country with no problems at Western Union - just a bad exchange rate plus fees.

BTW, maybe a bit off topic, but has anyone here reversed their pension bsck to the US? I currently have my Social Security deposited directly to Bangkok Bank in NY, thence it is transferred here. But one of the catches, so to speak, is that you must appear in person to collect your funds, (that way, they know it is you and not someone else collecting for years after you pass on), and no atm cards come with this type account. Now I am planning a several month trip back to the US where I still maintain a bank account.and will need the funds whilst there. Any suggestions? Have tried to go on the Social Security site but it never seems to connect, and waiting on the phone can be a long, long wait.

You can show up in person at your THAI bank and transfer the funds to another account that has an ATM.

[Anon999]

According to the Bangkok Bank website you can transfer money out of Thailand. Quote "Transfer funds overseas via Bualuang iBanking

A fast and flexible way to transfer money overseas is by using Bangkok Bank’s International Funds Transfer via Bualuang iBanking. You can select from 16 different currencies when you make your payment. Transfer records are kept online, giving you the ability to access and print them out any time.

An international funds transfer via Bualuang iBanking costs only 300Bt, a saving of 100Bt compared with the branch. Simply register for Bualuang iBanking and then apply for International Funds Transfer via Bualuang iBanking."

Edited February 26, 2014 by Anon999

[zeromoocher]

this is why bitcoin is so exciting. freedom to send money to anyone anywhere instantly at almost zero cost.

long time lurker but felt motivated to sign up to make this post

[gchurch259]

I use Bangkok Bank and they have a system where you complete a form and get approval for transfers. It is easier if you are transfering to a company outside Thailand. Just toady I transferred my annual corporation fee to Hong Kong, no problem and am setting it up for Internet Transfers.

By the way I keep two accounts in the USA where my retirement money goes. I use Internet banking to move funds around as needed.

Good luck, Jerry !!

[Gonsalviz]

When it comes down to transferring money out of Thailand, it pretty boils down to the following list due to Bank of Thailand regulations which all Thai banks must follow. Of course there are some other reasons to send money out like the sale of your residence and you have the documents showing you originally brought the money into Thailand to buy the home...and some bank branches will bend the rules and let funds flow out with apparent little reason...TIT.

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

It wasn't the Thai banks that made these rules. It was the ever present and ever controlling United States Government.

[Gonsalviz]

I have sent money out of the country with no problems at Western Union - just a bad exchange rate plus fees.

BTW, maybe a bit off topic, but has anyone here reversed their pension bsck to the US? I currently have my Social Security deposited directly to Bangkok Bank in NY, thence it is transferred here. But one of the catches, so to speak, is that you must appear in person to collect your funds, (that way, they know it is you and not someone else collecting for years after you pass on), and no atm cards come with this type account. Now I am planning a several month trip back to the US where I still maintain a bank account.and will need the funds whilst there. Any suggestions? Have tried to go on the Social Security site but it never seems to connect, and waiting on the phone can be a long, long wait.

You can show up in person at your THAI bank and transfer the funds to another account that has an ATM.

Hello? Tony. Just wake up?