How to transfer large sums out of Thailand

[Valter]

Hello,

My Thai wife and I are moving back to Europe. We are selling our house in Thailand. We would like to transfer all the money n her account from the sale of the house to my account in Europe.

Does anyone have had a similar experience? I would like to know which is the best way to transfer big amounts of money at the minimum cost.

[Naam]

big amounts of money at the minimum cost

no problem as the cost for a SWIFT transfer is the same for 100 and 1 million Dollars. your problem is to meet all legal requirements for the transfer to be authorised. i have been told that's a big headache.

[cornishcarlos]

Suitcases, just like the elite do..

[scoutman360]

You need to show where the money came from. If it came from abroad, then just show the paperwork. No problem. If you earned the money in Thailand, then show the paperwork, such as Work Permit, or Employment certificate. I have been through this and it is not a big deal. They just need to know where the money came from and it is not money laundering.

[happynthailand]

I just load my money in a wheel barrow and push it across the border,get some funny looks but nobody says any thing

[gk10002000]

I saw the OP post on another thread quoting > 1 Mil baht. OK, let's just say it is about 1 Mil. that is about 35,000 USD. A person can carry ,10 K usd and not have to declare anything if entering the USA. So unless you have many millions of baht, it seems that you and your wife can carry a good portion of the money on your person. I don't know the UK cash and carry enter limits. Anyway, whatever is left you can just use an ATM and withdraw it once you are in the UK?

[chiang mai]

If you're selling your house you'll need to show the transfering bank that tax was paid on the sale, for that you'll need the blue receipt from the Land Office. Present that to the bank and they will let you transfer out an amount equal to the value of the sale.

For other transfers you'll need the Foreign Exchange Certificates proving that the money came into Thailand from overseas, if you have them there's no problem sending the money back out again.

[markg]

I have just done this.

I did it online, in the comfort of my own home, using KrungThai online bank account to my own UK bank account.

I popped into the bank and they called Head Office to change my daily limit to 5 million Baht per day.

When you do the transfer, you need your receiving banks IBAN number etc

There is a drop down box within KrungThai which asks you what the money is for. (Sale of a house is one of the options)

It cost 1,500 baht irrespective of the amount being transferred.

The receiving bank may ask questions about where it came from but at no time was I asked to prove where the money had come from.

[chiang mai]

I have just done this.

I did it online, in the comfort of my own home, using KrungThai online bank account to my own UK bank account.

I popped into the bank and they called Head Office to change my daily limit to 5 million Baht per day.

When you do the transfer, you need your receiving banks IBAN number etc

There is a drop down box within KrungThai which asks you what the money is for. (Sale of a house is one of the options)

It cost 1,500 baht irrespective of the amount being transferred.

The receiving bank may ask questions about where it came from but at no time was I asked to prove where the money had come from.

Do you have a work permit in Thailand? If you do that would explain the ease with which you made the transfers because you are assumed to have earned money here which can be legally exported and the banks treat work permit holders differently.

Edited March 6, 2016 by chiang mai

[Gutenberg]

What work permit? For selling the house?

High chance it is in her name. Let her sell it and the funds transferred of course to the seller (your wife) of the house, your wife's bank account. Tax will be paid anyway at the land office while transferring to the new owner and a receipt will be handed. Your wife then walks into the bank with the tax receipt and says she needs the money for living abroad with her husband. If bank refuse, withdraw money, go to another branch. Done.

[chiang mai]

What work permit? For selling the house?

High chance it is in her name. Let her sell it and the funds transferred of course to the seller (your wife) of the house, your wife's bank account. Tax will be paid anyway at the land office while transferring to the new owner and a receipt will be handed. Your wife then walks into the bank with the tax receipt and says she needs the money for living abroad with her husband. If bank refuse, withdraw money, go to another branch. Done.

Poster Markg doesn't say he sold property, he just says he had his limit upped to 5 million and made a transfer from home, no indication at all about the source of funds other than the option is there to use house sale as a reason, hence my question!

EDIT to add:I now realize from a separate thread that poster Markg has a work permit, this makes outbound transfers quite simple, not so for people who don't have one, they must produce FET's.

Edited March 6, 2016 by chiang mai

[Gutenberg]

What work permit? For selling the house?

High chance it is in her name. Let her sell it and the funds transferred of course to the seller (your wife) of the house, your wife's bank account. Tax will be paid anyway at the land office while transferring to the new owner and a receipt will be handed. Your wife then walks into the bank with the tax receipt and says she needs the money for living abroad with her husband. If bank refuse, withdraw money, go to another branch. Done.

Poster Markg doesn't say he sold property, he just says he had his limit upped to 5 million and made a transfer from home, no indication at all about the source of funds other than the option is there to use house sale as a reason, hence my question!

EDIT to add:I now realize from a separate thread that poster Markg has a work permit, this makes outbound transfers quite simple, not so for people who don't have one, they must produce FET's.

Who do you think I responded to? Of course to the post starter and not some post hijacker.

[chiang mai]

Now now, play nicely, posters are making contributions in order to help, nobody's hijacking anything!

Work permit vs house came out of my post number 9, your response, "What work permit? For selling the house? " was to me, not to the OP, so don't weasel around!

[Gutenberg]

Now now, play nicely, posters are making contributions in order to help, nobody's hijacking anything!

Work permit vs house came out of my post number 9, your response, "What work permit? For selling the house? " was to me, not to the OP, so don't weasel around!

What the hell are you talking about? It was a response to the post starter including a response to post #4. Now get back to your place and stop bothering me.

[swissie]

Many years ago the Max that could be exported was 10 K $, Euros, CHF in form of cash or Bank-Transfer without paperwork.

The latest I heard was that these days those limits have been raised to 20 K, $, Euros,CHF. Still up to date, or has this changed yesterday ?

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Note: Western Union for example, claims on their Thai-Website, that the Max will depend on what the Westen-Union Affiliate will allow individually without paperwork. TIT.

Cheers.

[maanoi]

Since it's his Thai wife making the transfer of funds from the sale of her house does the OP having a work permit make any difference?

[Valter]

Thank you all for the information. It has been very helpful.

The money comes from my Thai wife selling a house. Havent sold it yet, just wanted some opinions on the procedures.

So I guess my wife will not have trouble transferring to Europe if she submits the house selling tax receipt.

Again, thank you all for the valuable tips.

[chiang mai]

It certainly used to be the case that a Thai citizen who wanted to send money overseas could only do so for a limited number of reasons, one was to support family members living overseas, another was to pay school fees, a third was to pay an oversea invoice. I have not heard that those rules have been relaxed although others may know.

[Gutenberg]

It certainly used to be the case that a Thai citizen who wanted to send money overseas could only do so for a limited number of reasons, one was to support family members living overseas, another was to pay school fees, a third was to pay an oversea invoice. I have not heard that those rules have been relaxed although others may know.

Well, you know how it is. One branch this another branch that.

[Bench499d]

My wife was able to get a banker's draft in GBP from her bank, she just carried the draft to the UK and paid it into the UK bank account. Better rate doing the currency exchange in Thailand.