Wiring money out from Thailand Siam Commercial Bank

[reenatinnakor]

Apologies if this has been asked many times before! But I can't get a hit on Google.

Do I really need to show documents on why I want to wire the money abroad? Even if it was my own money coming into the account in the first place?

Also how much does it cost for wiring money out? Is is a flat rate like 30USD or is it a percent of the amount I am sending out?

My example:

I wired in 2m THB from my HSBC Hong Kong account to SCB joint account in Thailand.

I now want to wire out 800k THB to my HSBC in Hong Kong.

Is this as easy as just going to the counter and request the transfer or do I really need a reason and documents as to why the money is going out? Or is it just better to take out in USD and take it to Hong Kong? Thanks for any advice!

Edited July 17, 2014 by reenatinnakor

[AbeSurd]

What currency is your "HSBC Hong Kong account" in?

I'm no banking expert but I'll offer two comments/opinions....

1. So long as you haven't moved the money out of SCB at any point in time, I believe you should be able to repatriate the money to Hong Kong with just your passport and your passbook in hand at the SCB bank in Thailand.

2. You probably will not be able to repatriate your money as Thai baht. SCB will want to convert it to some other currency.

Hmm, I just noticed you say your SCB account is 'joint'. Not sure what complications that might add.

Good luck!

[reenatinnakor]

What currency is your "HSBC Hong Kong account" in?

I'm no banking expert but I'll offer two comments/opinions....

1. So long as you haven't moved the money out of SCB at any point in time, I believe you should be able to repatriate the money to Hong Kong with just your passport and your passbook in hand at the SCB bank in Thailand.

2. You probably will not be able to repatriate your money as Thai baht. SCB will want to convert it to some other currency.

Hmm, I just noticed you say your SCB account is 'joint'. Not sure what complications that might add.

Good luck!

It will just be sent out in THB and then it will be converted to HKD once it hits my HSBC. That's what always happen in banking - it gets converted at the destination currency of your account.

I'm just not sure if they will ask me for docs on such a small transfer. I have read this on the internet that it's not easy to send money out of Thailand.

I guess can just go in and ask!

[falang07]

still you might consider changing it in SCB since I suspect you would get better exchange rate than in HSBC

[keeniau96]

Central bank rule is that international transfers of more than US$50k need to be documented for reason i.e invoice, buying house, supporting your mia noi, etc. Your Thai bank will have a 1-page form for you to fill out for the transfer of any amount, and will probably call into their central office for OK. If the amount is more than US$50k you need to provide the documentation. You may be asked for such if less than the US$50k (about 1.6 mn baht).

[chiang mai]

If you transferred the money in to Thailand from overseas and you can prove that, either by bank treasury records or more likely by retaining a copy of the Foreign Exchange Transaction form, that will allow you repatriate the funds without further question. If however you do not have those records and presuming you do not have a work permit AND the amount is over USD 20k equivelent, that will be a problem.

[reenatinnakor]

If you transferred the money in to Thailand from overseas and you can prove that, either by bank treasury records or more likely by retaining a copy of the Foreign Exchange Transaction form, that will allow you repatriate the funds without further question. If however you do not have those records and presuming you do not have a work permit AND the amount is over USD 20k equivelent, that will be a problem.

Ah ok. Thanks for the heads up. I still have the original wire receipt from hk, will show that to them.

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