Is money received via paypal considered to be abroad money?

[Gik]

When i receive money (small sum) via paypal to my thb account is the money considered to be coming from abroad and can i get FETF form for that?

If this is the case can i get FETF form for money received 2 years ago?

Is there any restrictions on moving this money like if i want to sent them to bank in another country?

[Pib]

As far as I know a Foreign Exchange Transfer Form/Letter applies to foreign funds received and exchanged to baht at the Thai bank. In PayPal foreign fund transfers it's PayPal that converts the funds therefore the funds arrive the Thai bank therefore baht arrives versus foreign funds. Plus there is a $50K equivalent level for a FET "form" and for a less formal "letter" it can be a lower amount like around $20K I think but this depends on the bank. There are restrictions on moving money out of Thailand...usually for a farang it's based on money he can prove he brought in and/or has FET forms/letters for....or repatriating his salary which means he has a Work Permit ...but once again it varies from bank to bank as to how strict they are in flowing funds out of Thailand. No shortage of ThaiVisa posts of folks going to a Thai bank and flowing X-amount of funds out with little difficulty...and no shortage of posts where it was very difficult to a no-go....your results may vary.

[falang07]

Paypal is a scammer service that pretends to be a cheap alternative but is actually very expensive in the end, especially when you factor in the terrible exchange rates and ridiculous hidden fees.

[HerbalEd]

With Paypal, you can only withdraw in the local currency (THB in case of Thailand) for the Paypal's terrible exchange rates so forget about Paypal and FETF, impossible.

I have a Thai PayPal account and can withdraw to my Thai banks and to my bank accounts in the US. Also, PayPal is no scam, buddy. You either choose to use it or you don't. I have no problem with it or their rates. It's convenient and just one of many options available when exchanging, receiving, or paying money.

If you're receiving/exchanging via PayPal a few hundred dollars then the poor exchange rate is not so much a problem, but if your doing same with tens-of-thousands of dollars then the loss is substantial. But to each his/her own. It's your money, so waste it if you choose.

BTW, if PayPal is more "convenient" than your US banks then those banks are giving lousy transfer service, and/or you haven't thought this through thoroughly and are now trying to save face.

Edited September 18, 2015 by HerbalEd

[Maestro]

Removed off-topic posts and a flame.

[ScottMallon]

With Paypal, you can only withdraw in the local currency (THB in case of Thailand) for the Paypal's terrible exchange rates so forget about Paypal and FETF, impossible.

I have a Thai PayPal account and can withdraw to my Thai banks and to my bank accounts in the US. Also, PayPal is no scam, buddy. You either choose to use it or you don't. I have no problem with it or their rates. It's convenient and just one of many options available when exchanging, receiving, or paying money.

If you're receiving/exchanging via PayPal a few hundred dollars then the poor exchange rate is not so much a problem, but if your doing same with tens-of-thousands of dollars then the loss is substantial. But to each his/her own. It's your money, so waste it if you choose.

BTW, if PayPal is more "convenient" than your US banks then those banks are giving lousy transfer service, and/or you haven't thought this through thoroughly and are now trying to save face.

You're so off pal...what I wrote is that PayPal is convenient. I didn't write it was "more convenient," so don't get it twisted. There's a difference. PayPal is convenient in many ways but definitely not a necessity. Also, how many people actually transfer tens of thousands of dollars on a regular basis? While I have made $50-$100K transfers in the past, I used the banking system and made SWIFT transfers. Even transferring out of Thailand it was not a big deal as I had the necessary paperwork.

My US banks are excellent - I pay no fee on either end for ATM withdrawals and pay $3 for a two-day or $6 for a one-day international transfer to my Bangkok Bank account.

Again, it is entirely possible to transfer funds from PayPal to Thailand AND the US.

[MauiSteveBKK]

My Thai Wife and I:

+ Use PayPal HERE for credit cards at our retail store in Hawaii. Very fast to Paypal.

+ We have an On-Line business on both EBay and Amazon and most payments are with PayPal.

+ We buy women's clothing in Bangkok, ship via DHL, and the Thai companies will ONLY accept PayPal.

+ When I want to give my wife some of our profits, I give her USA Dollars. About 2-3-4 times a month,

I send money to her PayPal account. She moves the money into her Thai bank account.

+ I only send between $100 and $1,500.00. Never more than that via PayPal.

+ I use bank EFT transfers if it's significant money over $2K.

* I got SCAMMED using Western Union sending money to clothing companies in Shenjenz (sp?) because there is

no "certification" process like PayPal uses. You must get "certified" and PayPal is EXCELLENT with this.