Its my money - And I can do what I want with it...Nope not according to the Bank

[mania]

Not sure if this is a problem now, as Thai banks seemed to have moved into a bit more

normal international banking. Sitting at home, I can log into my Bangkok Bank account,

and with a few button pushes easily send a wire to my account in America. No scenes

at the bank pleading for your money...... Not sure of the upper limits, last time I did a wire

transfer think it was about 3000 dollars..

I also have Bualuang Banking with Bangkok Bank

Yes they allow online international transfers within pretty high limits if USD is correct as stated on their site

Less than USD 50,000 per day

Up to USD 100,000 per month

Up to USD 500,000 per year

Also of interest it is really only allowed if you have a work permit & are repatriating income

If your Thai then you may send for many reasons

For Thai nationals

Educational expenses

Family support

Living expenses

Payment for goods

Payment for services

Travel expenses

Personal expenses

Gift

Donation

If your foreign not so many reasons listed

For foreigners

Salary repatriation

May I ask if you have a work permit?

If so maybe it is not strictly controlled?

In which case I will activate that feature too

http://www.bangkokbank.com/OnlineBanking/PersonalBanking/iBanking/BualuangiBanking/Services/Pages/BualuangiBankingServices.aspx

Also more explanation

http://www.bangkokbank.com/OnlineBanking/PersonalBanking/iBanking/BualuangiBanking/Services/pages/ift.aspx

Edited March 5, 2014 by mania

[seb2015]

I have a Baluang account registered with a WP here. Never tested the limits but thanks for sharing.

Before you register to the IFT I suggest you check with your homeland bank what are the receiving fee.

In my example for a yearly amount (much smaller than the 1500 THB stated on their account), I don't get any receiving fee when wiring money home.

That leaves me with the standard 300 THB fee for any sum wired abroad, which I think is a pretty good deal.

Sent from my iPhone using Thaivisa Connect Thailand

[mortenaa]

I transferred money several times to Singapore and Europe. Never any questions asked. Just fill in the form.. Kasikorn Bangkok.

[oxo1947]

" I've seen this used as an excuse by the bank not to release funds. Also, if they've gotten a new passport (with a new new number) since opening the account "---spambot

This is true & something that I only came across recently with BKK Bank-- I live in Essan but was in Pattaya when a ATM ate my card (I think it was my fault for not taking it out quick enough) No Problem, I rang head office and asked them if I could show my passport & pick up another card from one of their local branches, he took some details & I was quite surprised when he phoned back & said no- as my passport was not the same number as I had opened the account with--some 15 years ago, apparently when you get a new passport you should up-date it with the bank records at your bank, of course no one at the bank explained that. I asked what I could do & he explained that I would have to go into my branch as they had my signature, I pointed out to him that my branch was 700 Klms away--I think he was just shrugging his shoulders on the other end of the line----- Amazing customer relations---Amazing Thailand.

[merideur]

Can anyone tel me where is the Bangkok Bank's Kad Suan Kaew branch , please In Bangkok or Pattaya or else

Thanks to all for your kind help

[mortenaa]

" I've seen this used as an excuse by the bank not to release funds. Also, if they've gotten a new passport (with a new new number) since opening the account "---spambot

This is true & something that I only came across recently with BKK Bank-- I live in Essan but was in Pattaya when a ATM ate my card (I think it was my fault for not taking it out quick enough) No Problem, I rang head office and asked them if I could show my passport & pick up another card from one of their local branches, he took some details & I was quite surprised when he phoned back & said no- as my passport was not the same number as I had opened the account with--some 15 years ago, apparently when you get a new passport you should up-date it with the bank records at your bank, of course no one at the bank explained that. I asked what I could do & he explained that I would have to go into my branch as they had my signature, I pointed out to him that my branch was 700 Klms away--I think he was just shrugging his shoulders on the other end of the line----- Amazing customer relations---Amazing Thailand.

An easier solution would just ask the ATM provider to get your card back.. Problem solved!

[chiang mai]

Can anyone tel me where is the Bangkok Bank's Kad Suan Kaew branch , please In Bangkok or Pattaya or else

Thanks to all for your kind help

Kad Suan Kaew is Chiang Mai.

http://www.kadsuankaew.co.th/?lang=en

[HUAHIN62]

Does anyone have practical experience with cash exchange from Baht to other currencies within Thailand?

Remembe some remarks that even this might be problematic for foreigners,

(I assume this "give it to a Thai friend" goes into this direction?)

Take your cash and passport to the Super Rich in BKK and change it to whatever currency. The best rates, no need to order and normally speedy service.

[deepcell]

Why don't use BitCoin ? But keep the eletronic hash with you in one SD card or similar (your own wallet).

Once you get back to your country, trade it, sell in market and get money back. No bank tax, no bank fees, no bla bla.., only bitcoin fee (a little, almost nothing).

BitCoin (crypto currency) still in beta, do not trust any bitcoin brokerage, as I said keep your bitcoin in your own wallet, and change for cash when desired.

[penwithcris]

Money laundering is at the heart of difficulties in drawing large deposits from banks.

I needed to withdraw £10,000 in cash quickly from Halifax Bank in UK and was quizzed for hours on what I was to use the withdrawal for. I flatly refused to tell them and they flatly refused to release the £10,000 despite me giving them several days notice of my requirements

In the end I decided that only direct and controversial action was necessary and went back into the central banking area and told the queues of customers in a very loud voice, 'don't put your money in here, you can't get it out when you need it'

After a few minutes of this I was called into the manager's office where a bundle of £50 notes was awaiting me

How could I tell the bank that I needed the cash urgently to satisfy all my carnal desires and enjoy all the other salacious activities on offer in magnetic Thailand?

[wym]

Why don't use BitCoin ? But keep the eletronic hash with you in one SD card or similar (your own wallet).

Once you get back to your country, trade it, sell in market and get money back. No bank tax, no bank fees, no bla bla.., only bitcoin fee (a little, almost nothing).

BitCoin (crypto currency) still in beta, do not trust any bitcoin brokerage, as I said keep your bitcoin in your own wallet, and change for cash when desired.

Very unstable ATM, changing large amounts back to cash not straightforward

[chiang mai]

Does anyone have practical experience with cash exchange from Baht to other currencies within Thailand?

Remembe some remarks that even this might be problematic for foreigners,

(I assume this "give it to a Thai friend" goes into this direction?)

Take your cash and passport to the Super Rich in BKK and change it to whatever currency. The best rates, no need to order and normally speedy service.

Subject to limits, as discussed earlier.

[Suradit69]

What I did not ask and I may go back to check this – Was if funds were not transferred originally directly into my account in Thailand from my UK account (since I use a currency broker to get better rates than my UK bank will do the conversion at) – would this be a problem in that I would need to show that the incoming funds actually came from me (my account) originally, but I guess this could be proved via other means with the currency broker.

"since I use a currency broker to get better rates than my UK bank will do the conversion at..."

If you transfer funds from abroad, in almost every case based on the consensus on threads I've read here and advice received elsewhere, you should make the transfer in foreign currency and allow your Thai bank to do the exchange. Certainly with my bank the rates are better and the fees less than they would be if I had my foreign bank sell me baht for the transfer. Additionally I can pay the money directly into the branch of my Thai bank in New York. Not sure if a broker would give you better rates, but if you're contemplating repatriating the money at some point, it certainly provides evidence of the funds' sourcing.

And assuming you were doing that you would then have a record, in my case bank passbooks going back for many years, with foreign sourced deposits indicated in the books... again at my bank it's coded "FTT" which is presumably "Foreign Telegraphic Transfer" or something to that effect.

I have no plans to send money out of the country anyway, but when I get the bank manager's letter to take to Immigrations for the extension of stay each year he does indicate all recent foreign sourced deposits. It may not be a requirement for Immigrations now, but policy on proof of such things may make that documentation useful in future.

Edited March 5, 2014 by Suradit69

[jerome2]

when you receive from abroad,it's the thai bank that makes the exchange price (TT telex transfer on buying side of the bank exchange page)

[chiang mai]

when you receive from abroad,it's the thai bank that makes the exchange price (TT telex transfer on buying side of the bank exchange page)

The choice of where to make the currency exchange is down to the individual customer, it can be done in either location - smart and sensible customers make the exchange in Thailand, true for both inbound and outbound.

[Suradit69]

" I've seen this used as an excuse by the bank not to release funds. Also, if they've gotten a new passport (with a new new number) since opening the account "---spambot

This is true & something that I only came across recently with BKK Bank-- I live in Essan but was in Pattaya when a ATM ate my card (I think it was my fault for not taking it out quick enough) No Problem, I rang head office and asked them if I could show my passport & pick up another card from one of their local branches, he took some details & I was quite surprised when he phoned back & said no- as my passport was not the same number as I had opened the account with--some 15 years ago, apparently when you get a new passport you should up-date it with the bank records at your bank, of course no one at the bank explained that. I asked what I could do & he explained that I would have to go into my branch as they had my signature, I pointed out to him that my branch was 700 Klms away--I think he was just shrugging his shoulders on the other end of the line----- Amazing customer relations---Amazing Thailand.

"apparently when you get a new passport you should up-date it with the bank records at your bank, of course no one at the bank explained that."

Apparently the bank felt you would understand something that basic without any hand-holding on their part. If you use your passport as proof of identity when opening the account or withdrawing money directly from the bank or getting a new ATM card or whatever, it would seem pretty clear the bank would need to know if you got a new passport.

And, if you've been following Thai Visa for any length of time, that 's been commenting upon repeatedly.

Edited March 5, 2014 by Suradit69

[Torrens54]

Many thanks for taking the trouble to post this information.

Greatly appreciated!

[KIWIBATCH]

transfer the lot to into 200 / 500 euro notes or 1000 swiss franc notes

these are very easy to fly with and they add up to a lot of baht in a small amount of paper

Precisely........withdraw the lot from the Thai Bank...exchange it (in Thailand) into whatever currency you require and fly with it or have a trusted friend/family member do the same.

Most currency exchanges from Thai Baht equal alot less of a "paper bundle" to carry when exchanged for another currency.

If it's a large amount you are taking into/back too your (I assume) home country...spread it throughout your luggage.....stick some in your shoes...(equal amounts so that you don't develop a limp..........checked in luggage.....carry-on luggage....in your wallet...and the pockets of the clothing you are wearing on the day

Remember to look relaxed and smile alot as you walk from the plane to your countrys inbound Customs/Immi checkout......CCTV is watching you...!!

A poster mentioned a few days ago on TV.....you can always "create" an invoice to present to the Thai Bank...so as to meet their requirements ...and then be able to transfer it through their system.

Lets face it this country is a Hub of Corruption, Scams....no harm in you trying to head them off for the number 1 spot.

[MadDog2020]

The case the OP discusses seems to be where the money was originally transferred from one's own bank account abroad to one's own bank account in Thailand, and paperwork still exists to support this fact. In that situation, it may be possible to transfer up to that amount back to one's own account abroad, whether all at once or in installments, as discussed.

However, for all other situations, I was under the impression that it is impossible to transfer any money abroad, whether to one's own account or not.

Am I wrong?

[MadDog2020]

The case the OP discusses seems to be where the money was originally transferred from one's own bank account abroad to one's own bank account in Thailand, and paperwork still exists to support this fact. In that situation, it may be possible to transfer up to that amount back to one's own account abroad, whether all at once or in installments, as discussed.

However, for all other situations, I was under the impression that it is impossible to transfer any money abroad, whether to one's own account or not.

Am I wrong?

I am on a work permit earning money in Thailand and I transfer money directly from my Kasikorn account to my account in the US fairly often. No hassle at all and I do it with on-line banking.

[chiang mai]

The case the OP discusses seems to be where the money was originally transferred from one's own bank account abroad to one's own bank account in Thailand, and paperwork still exists to support this fact. In that situation, it may be possible to transfer up to that amount back to one's own account abroad, whether all at once or in installments, as discussed.

However, for all other situations, I was under the impression that it is impossible to transfer any money abroad, whether to one's own account or not.

Am I wrong?

You are not wrong, unless you have a work permit or you are a Thai who is sending money overseas subject to the strict criteria already mentioned.

[MadDog2020]

You are wrong.

I am on a work permit earning money in Thailand and I transfer money directly from my Kasikorn account to my account in the US fairly often. No hassle at all and I do it with on-line banking.

[chiang mai]

You are wrong.

I am on a work permit earning money in Thailand and I transfer money directly from my Kasikorn account to my account in the US fairly often. No hassle at all and I do it with on-line banking.

Read what I wrote again!

[ricardofel]

Sounds like a bunch of BS to me. I sold our land for 11,000,000 baht. The $$$$ originally came from my US bank. Brought a copy of my original transfer of funds into Thailand and over 6 days transferred $49,000 each day back to the US....SCB! NO problems! I also have a good banker.

[mania]

Sounds like a bunch of BS to me. I sold our land for 11,000,000 baht. The $$$$ originally came from my US bank. Brought a copy of my original transfer of funds into Thailand and over 6 days transferred $49,000 each day back to the US....SCB! NO problems! I also have a good banker.

It goes without saying that would be no problem as when money is brought in for real estate purchases it is earmarked as such.

But if you bring in 11 mil baht for a purchase & are fortunate enough to

have timed a good boom then sell for 20 mil baht it is the 9 mil profit

that some say is the problem to repatriate & again goes back to the 97-98 crisis.

[wym]

Sounds to me like no one is disagreeing with anyone else.

Just people not reading carefully.

[mania]

Precisely........withdraw the lot from the Thai Bank...exchange it (in Thailand) into whatever currency you require and fly with it or have a trusted friend/family member do the same.

Most currency exchanges from Thai Baht equal alot less of a "paper bundle" to carry when exchanged for another currency.

If it's a large amount you are taking into/back too your (I assume) home country...spread it throughout your luggage.....stick some in your shoes...(equal amounts so that you don't develop a limp..........checked in luggage.....carry-on luggage....in your wallet...and the pockets of the clothing you are wearing on the day

Remember to look relaxed and smile alot as you walk from the plane to your countrys inbound Customs/Immi checkout......CCTV is watching you...!!

This type of physical carry may work well for some amounts but caution should be

key if over 10k USD & traveling to USA

It is law to declare anything over coming or going into the country.

Try to hide it & go undeclared & be willing to lose it all if TSHTF

Some folks may also not know there is a law that states you must declare any currency over 20k USD

when entering or leaving Thailand. Risk that one & get caught & your sure to not have a leg to stand on. They will be

too happy to keep that.

Of course you can transfer any amount into Thailand as there is no limits

http://www.bot.or.th/English/ForeignExchangeRegulations/FXRegulation/Pages/ExchangeControlLaw.aspx

Any person bringing into or taking out of Thailand foreign currency bank notes in an aggregate amount exceeding

USD 20,000 or its equivalent must declare to a customs officer.

Edited March 5, 2014 by mania

[wym]

But if you bring in 11 mil baht for a purchase & are fortunate enough to

have timed a good boom then sell for 20 mil baht it is the 9 mil profit

that some say is the problem to repatriate & again goes back to the 97-98 crisis.

That doesn't happen from just luck in Thailand - for anyone smart enough to be able to actually do what you say IN REALITY, this little technical glitch would have long ago been anticipated and worked around.

And they wouldn't be trying to gather any knowledge on such matters here.

[chiang mai]

It goes without saying that would be no problem as when money is brought in for real estate purchases it is earmarked as such.

But if you bring in 11 mil baht for a purchase & are fortunate enough to

have timed a good boom then sell for 20 mil baht it is the 9 mil profit

that some say is the problem to repatriate & again goes back to the 97-98 crisis.

Using that example, the 9 million would be taxable and thereafter the balance can be repatriated.

[ggt]

I moved money from TMB to Bangkok Bank with good results...depending upon the branch manager...results may vary...welcome to Thailand...

Let me tell you the rest-of-the-story when it comes to money in banks in general...

1 - If you need somewhere to keep your money...because it is unsafe where you are located...then you are somewhat limited in your options...

2 - Today's world...banks pay so little interest in either saving or checking accounts...that it is not worth keeping money to increase your wealth...not going to happen...

3 - Your money is protected by the gov't...right...not necessarily so...

4 - The bank looks at your money as a loan...to them...so they can loan the money to their friends and get a kick-back...that is just the reality of the banking industry...the people who loan the money,,,get rich...far beyond their banking salaries...

5 - Banks make bad loans...banking industry has being printing gobs of fiat money...with no increase in precious metals...or increase in gross-national-product...to back it up...the value of printed money has decreased measurable over the past few years...paper money has less value now...and is loosing value at an accelerated pace...as the world comes to grips with a failed policy of printing money to relieve the debt stress...NO Working!

6 - If push comes to shove...the bank could close it's doors...and refuse to give anyone their money back...at best a small percentage might be distributed to the population...gov't protects the banking industry...they will let you and me fail...before they allow the banking industry to fail...brining down the (smoke and mirrors) financial system the gov't has created...

7. If possible...keep as little cash in the bank as you can...in order to do business...ie...receive money from home...make CC purchases...and write checks...

8. Your money may be safe in a bank for now...but the world's financing is a changing...watch the USD...it may go into free fall this year...bringing the world with it...

Edited March 5, 2014 by Rooo
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