transfer money fron Thailand to Europe

[aligator]

Hi,

The law change very often in Thailand, i would like to know how to transfer money from thailand to abroad (europe) ? I have a account on Bangkok Bank. Is there any amount maximum ?

Thanks

[keeniau96]

Fairly simple to fill out the required form, US$50,000 limit required by the central bank of TH. Need a reason for the transfer, best if you have documentation eg. buying house, school fees, etc. Form is two pages, most entries not needed and all in English.

[aligator]

Thanks keeniau96, ok the limit is US$50,000 but we can transfer this amount several times per year ?

[keeniau96]

Don't know how often, checking at the bank will probably be non-informative. Probably best to contact the Bank of Thailand for true scoop.

[Pattaya46]

Are not requirements from post #2 for Thai people only ?

Don't have farangs just to prove they bring the money in Thailand before ?

[Briggsy]

The rules from the horse's mouth.

https://www.bot.or.th/English/FinancialMarkets/ForeignExchangeRegulations/FXRegulation/Pages/default.aspx

[Cheesekraft]

THB- > BTC -> EUR

just need to set up a way to exchange THB to BTC, and BTC to EUR, both are fairly easy and cheap. Nobody will stop or put limits on BTC transfers, as they can't.

[fletchsmile]

THB- > BTC -> EUR

just need to set up a way to exchange THB to BTC, and BTC to EUR, both are fairly easy and cheap. Nobody will stop or put limits on BTC transfers, as they can't.

OK maybe for small amounts maybe if you're also willing to take the credit risk on the particular bitcoin exchange you're using in the event that you're unlucky enough that it collapses before you get your money out the other side.

But for larger amounts the bid-offer spreads can be quite wide. Typically 1% on THB-BTC and 1% EUR-BTC are the rates they quote. That's 2% - ish

So while you may save on fees you may get hit on spreads.

Have you actually done this for large amounts?

Cheers

Fletch