buying a condo with cash

[linguini]

If I understood the bank rep correctly (and there were a few language translation problems) when I recently got an FTEF, that form is only issued for individual transfers into Thailand of US$50,000 or higher. What does the Land Office accept if, for example, you had done multiple transfers of US$20,000 each? Do you have to send the money back out of Thailand and then back in as a transfer of (or multiple transfers each of) at least US$50,000?

I wired in the first USD 10k and I received a Credit Note (but the credit note did specify USD amount transferred in and also did specify the purpose - which is to purchase a condominium) instead of FET. I asked the bank (Bangkok Bank) for FET and the staff told me this is it. Maybe over a certain amount gets a FET form and anything below that gets a Credit Note. I should wire-in more later. Hope Land department also accepts Credit Notes when I find the condo unit I like.

[HampiK]

If you have less than 50'000$ you still can ask your bank for a paper (i don't remember the name). Maybe even same. Which you can provide to land departement. Only if you tranfer more than 50'000$ then the bank do this TTF3 by themselve. They even call me to clarify that this money is arrived and they will exchange it with the atual interest rate.

So even with less than 50'000 you are able to use this money to buy a condo

[Maestro]

Some banks call it credit advice, others call it credit receipt, and many bank employees don't know what it is and you need to call or message the bank's helpline to educate the employee in question.

[wpcoe]

If you have less than 50'000$ you still can ask your bank for a paper (i don't remember the name). Maybe even same. Which you can provide to land departement. Only if you tranfer more than 50'000$ then the bank do this TTF3 by themselve. They even call me to clarify that this money is arrived and they will exchange it with the atual interest rate.

So even with less than 50'000 you are able to use this money to buy a condo

Some banks call it credit advice, others call it credit receipt, and many bank employees don't know what it is and you need to call or message the bank's helpline to educate the employee in question.

So, regardless what the bank calls the paper, it's acceptable to the Land Office as proof that the funds came from overseas and hence are usable for a farang to buy a condo?

I had made two transfers within about two weeks: one just for a B100k down payment, and another for the balance of funds to cover a potential condo purchase. Bangkok Bank had issued a FETF for the latter, plus handed me two printouts titled "CREDIT ADVICE / RECEIPT" -- one for each transfer. If I'm finally getting a grasp on this, I use the appropriate Credit Advice for the smaller down payment amount and the FETF for the larger amount?

[Maestro]

Yes, that's what you do. The Land Office will accept both types of documents. One thing, though: the credit advice often is a computer printout without signature. In this case, ask the bank for a signed credit advice or, if they can't do this for an old incoming remittance, ask them for a letter confirming the transaction. My bank did this readily when I needed it, some years ago.

[coulson]

Yes, that's what you do. The Land Office will accept both types of documents. One thing, though: the credit advice often is a computer printout without signature. In this case, ask the bank for a signed credit advice or, if they can't do this for an old incoming remittance, ask them for a letter confirming the transaction. My bank did this readily when I needed it, some years ago.

The letter form is called *bai rap rang*.....your previous post was also spot on. When asking for such you have a 50% chance of waiting for the manager to get up to speed.

Learning the hard way myself as i write....the remittance requires to be in a foreign currency and not converted by the foreign bank.