Transfering funds from Krung Thai Bank to Phillipines Bank

[davehowden]

Any advice please on the best way of moving about 400,000 baht from Krung Thai Bank to a Philippines Bank account.

Many thanks.

[keeniau96]

Maximum SWIFT transfer from Thailand is set by the Thai Central Bank. Used to be US$20k but was raised to $50k about a year ago. Thus the max is about 1.6 mn baht currently. KT Bank will have you fill out a one-page application form with the usual from - to with full addresses, account numbers, etc. Ensure you have the correct SWIFT address for the PH destination, and that the account name and number there are exactly correct as in the PH bank because even slight mismatch is reason for failed transfer. Krunk Thai will also ask reason for the transfer, which could be support for your family, buying car, paying debt, whatever. They may require some documentation but usually not. A key aspect is where did your funds come from; if you sent money into TH originally then should be no problem.

[davehowden]

keeniau96

Thanks very much for the information.