Foreign Currency Transaction form (TT3)

[TheCruncher]

I have transferred a considerate amount of foreign currency into a foreign currency account with a Thai bank.

My intention is to use some of the money to buy a few condo's over time. This may happen next week or next year, when the right occasion presents itself, but until that time the money will stay in the FCD.

How do I go with the foreign currency transaction form?

Do I get 1 for the whole amount now or do I get one each time I take out a certain amount of money to purchase a condo?

Do I need to take any precautions at this time?

[KittenKong]

You wont get an FET form until you exchange the money. At that time you should be given a form for each transaction, normally without asking.

Of course, if you think that the Baht is likely to appreciate against whatever currency your account is in, or if you prefer to get 2% interest rather than whatever that currency account gives you, then you might like to do the transfer sooner rather than later. Or vice versa.

There is nothing else that you need to think about now as far as I can see (apart from the advisability of buying a condo here).

[TheCruncher]

Ok, I understand now that I will be issued an FET only when I exchange to Thai Baht.

Now since you brought up the second possibility, that is that for some unspecified reason I want to exchange into Thai Baht before I have purchased any condo's.

At that point I would exchange the equivalent of several condo's, so how do I go in such a scenario.

Do I get 1 FET for the total amount at that point, which I can use for several separate purchases, or what are my options?

[KittenKong]

Now since you brought up the second possibility, that is that for some unspecified reason I want to exchange into Thai Baht before I have purchased any condo's.

At that point I would exchange the equivalent of several condo's, so how do I go in such a scenario.

Do I get 1 FET for the total amount at that point, which I can use for several separate purchases, or what are my options?

That's an interesting question to which I have no answer. Sorry.