Withdrawing/transferring money from a Thai bank account?

[bodo]

Say I have 800.000 Baht on a Thai bank account. Is it easy to withdraw this or transfer it to a bank account outside Thailand?

[blackcab]

You can withdraw that amount in cash with no problem at all. Occasionally, if the branch is low on cash they may ask you to come back later or possibly tomorrow.

[Jingthing]

No, it is not easy to transfer out of Thailand.

[bodo]

^

Don't the banks have to do it, upon request?

And if they don't want to do it, how to handle this situation?

[Henricus]

Easy to do with online banking go to your bank and ask to activated online banking and you can do it from your home

[Jingthing]

Easy to do with online banking go to your bank and ask to activated online banking and you can do it from your home

Online banking overseas transfers are restricted.

[Jingthing]

^

Don't the banks have to do it, upon request?

And if they don't want to do it, how to handle this situation?

No, they don't have to do it.

Transfers out of Thailand are restricted. You can do it if you meet their specific rules.

The Thai government is involved in this.

It is in Thailand's interest for foreign funds to come in from abroad.

It is not in Thailand's interest for funds in Thai banks to go out of Thailand.

Edited July 19, 2016 by Jingthing

[Naam]

^

Don't the banks have to do it, upon request?

And if they don't want to do it, how to handle this situation?

No, they don't have to do it.

Transfers out of Thailand are restricted. You can do it if you meet their specific rules.

and their rules are a pain in the àrse!

[Henricus]

KTB Bank 14000 USD a day no restrictions no questions online from home do this many times that`s more than 490.000 THB

Everything above 2.000.000 in one time you get questions and need to proof were the money comes from

Edited July 19, 2016 by Henricus

[soalbundy]

try TransferWise.

[DrDave]

try TransferWise.

The OP wants to transfer money OUT of Thailand.

According to the TransferWise website, Thai Baht is not supported as a source currency (i.e. for outbound transfers from Thailand).

TransferWise says it's based upon a peer-to-peer model, and funds are not actually transferred between countries. That is, there's a bucket of money in each supported currency funded by people who want to transfer from that currency to a different currency. These buckets reside in that currency's country. If this is truly peer-to-peer, then this would require that each destination (inbound) currency be available as a source (outbound) currency. But... there's a number of supported destination currencies are not supported as source currencies, so I'm not sure how this peer-to-peer model works in these cases.

[chiang mai]

Extremely simple to do as long as you have the Foreign Exchange Transaction certificate, or similar, showing that the money came into the country in the first place, from outside Thailand.

[Alex2015]

On a slightly different topic, I had too withdraw money from my UK Bank Account yesterday, Kasikorn ATM, 200baht charge.

[JacChang]

KTB Bank 14000 USD a day no restrictions no questions online from home do this many times that`s more than 490.000 THB

Everything above 2.000.000 in one time you get questions and need to proof were the money comes from

How are the exchange rates? I'm interested.

[soalbundy]

try TransferWise.

The OP wants to transfer money OUT of Thailand.

According to the TransferWise website, Thai Baht is not supported as a source currency (i.e. for outbound transfers from Thailand).

TransferWise says it's based upon a peer-to-peer model, and funds are not actually transferred between countries. That is, there's a bucket of money in each supported currency funded by people who want to transfer from that currency to a different currency. These buckets reside in that currency's country. If this is truly peer-to-peer, then this would require that each destination (inbound) currency be available as a source (outbound) currency. But... there's a number of supported destination currencies are not supported as source currencies, so I'm not sure how this peer-to-peer model works in these cases.

You transfer money in Baht to TransferWise account in Thailand and on receipt they transfer the amount in pounds from their account in the UK to where you want it to go,at least that was how it was explained to me, as i was going to transfer some money (only about 500 pounds) from Thailand to the UK. I wrote an E-Mail to TransferWise and asked if this was possible,they said no problem and cheaper than going through the banks.In the end though i didn't need to transfer the money so i have no real experience.

Edited July 20, 2016 by soalbundy

[jippytum]

Easy to do with online banking go to your bank and ask to activated online banking and you can do it from your home

Not correct BB and SCB have online transfer facilities but you can only transfer overseas direct online if you have prior arrangement and a work permit

[DrDave]

try TransferWise.

The OP wants to transfer money OUT of Thailand.

According to the TransferWise website, Thai Baht is not supported as a source currency (i.e. for outbound transfers from Thailand).

TransferWise says it's based upon a peer-to-peer model, and funds are not actually transferred between countries. That is, there's a bucket of money in each supported currency funded by people who want to transfer from that currency to a different currency. These buckets reside in that currency's country. If this is truly peer-to-peer, then this would require that each destination (inbound) currency be available as a source (outbound) currency. But... there's a number of supported destination currencies are not supported as source currencies, so I'm not sure how this peer-to-peer model works in these cases.

You transfer money in Baht to TransferWise account in Thailand and on receipt they transfer the amount in pounds from their account in the UK to where you want it to go,at least that was how it was explained to me, as i was going to transfer some money (only about 500 pounds) from Thailand to the UK. I wrote an E-Mail to TransferWise and asked if this was possible,they said no problem and cheaper than going through the banks.In the end though i didn't need to transfer the money so i have no real experience.

Correct - that's the way it's supposed to work.

However, if you go to their website, Thai Baht is not an option in the dropdown list when selecting your "source" currency. Thai Baht is only available as a "destination" currency, meaning you can "send" GBP from your UK bank and have it deposited as Thai Baht in your Thai bank, but you cannot "send" Thai Baht from your Thai bank and have it deposited as GBP in your UK bank.

According to their website, the only source currencies they support are:

AUD, BGN, BRL, CAD, CHF, CZK, DKK, EUR, GBP, HUF, JPY, NOK, NZD, PLN, RON, SEK, SGD, USD

And further, from the Help section of their website:

Thailand - Thai Baht (THB)

TransferWise can only deliver THB to bank accounts based in Thailand,

We send THB out via domestic transfers within Thailand.

Currently TransferWise cannot send money from Thailand.

[Henricus]

KTB Bank 14000 USD a day no restrictions no questions online from home do this many times that`s more than 490.000 THB

Everything above 2.000.000 in one time you get questions and need to proof were the money comes from

How are the exchange rates? I'm interested.

Not bad at all last time was 2 weeks ago pay 35.47 for the dollar, fees for the bank 1100 THB for 14.000 usd

Edited July 20, 2016 by Henricus

[Henricus]

Easy to do with online banking go to your bank and ask to activated online banking and you can do it from your home

Not correct BB and SCB have online transfer facilities but you can only transfer overseas direct online if you have prior arrangement and a work permit

I don`t have a work permit with KTB it was no problem from Thailand to America 36 hours in working days.

[MANFROMBOCA]

Extremely simple to do as long as you have the Foreign Exchange Transaction certificate, or similar, showing that the money came into the country in the first place, from outside Thailand.

not true anymore

[bazza40]

I have seen Thais taking out wads of cash the size of housebricks from their bank. I've also made withdrawals up to 200,000 baht myself.

The method may be a bit long-winded; however, I would withdraw the money 200,000 baht at a time, and convert it to US dollars at a money exchanger. Then take the dollars out of the country. I don't think the Thai authorities have any limits on the foreign cash you can take out.

You will have to declare amounts above $10,000 dollars in Australia; however, it should not be a problem if you have the supporting bank books.

[jasonsamui55]

Does anyone know if transfer wise allows you to convert thb to USD or GBP and then transfer that within Thailand to their USD or GBP account within Thailand and then the make the deposit to your US or UK acct the same amount of USD or GBP? It would be great if they did.

[Naam]

I have seen Thais taking out wads of cash the size of housebricks from their bank. I've also made withdrawals up to 200,000 baht myself.

The method may be a bit long-winded; however, I would withdraw the money 200,000 baht at a time, and convert it to US dollars at a money exchanger. Then take the dollars out of the country. I don't think the Thai authorities have any limits on the foreign cash you can take out.

You will have to declare amounts above $10,000 dollars in Australia; however, it should not be a problem if you have the supporting bank books.

anybody can withdraw any amount of cash any time. a small branch might need a day advance notice.

there is also no need to withdraw cash and take it to a moneychanger. once in a while i need substantial amounts of EURos and Dollars. no problem to order forex in desired denominations with your bank.

i am referring to Siam Commercial and Kasikorn. have no experience with other banks.

[Naam]

Does anyone know if transfer wise allows you to convert thb to USD or GBP and then transfer that within Thailand to their USD or GBP account within Thailand and then the make the deposit to your US or UK acct the same amount of USD or GBP? It would be great if they did.

cannot! and if you ask "why not?" the answer is "cannot because no can do!"

[Naam]

I have seen Thais taking out wads of cash the size of housebricks from their bank. I've also made withdrawals up to 200,000 baht myself.

The method may be a bit long-winded; however, I would withdraw the money 200,000 baht at a time, and convert it to US dollars at a money exchanger. Then take the dollars out of the country. I don't think the Thai authorities have any limits on the foreign cash you can take out.

You will have to declare amounts above $10,000 dollars in Australia; however, it should not be a problem if you have the supporting bank books.

I don't think the Thai authorities have any limits on the foreign cash you can take out.

you have to declare if the value exceeds US-Dollars 20,000.-

[Naam]

Extremely simple to do as long as you have the Foreign Exchange Transaction certificate, or similar, showing that the money came into the country in the first place, from outside Thailand.

not true anymore

Siam Commercial (Pattaya main office) demands Forex certificate not older than 12 months. but even a hassle when "expiry date" months ahead.

no limit and no hassle changing Baht into foreign currency and withdrawal of cash.

[chiang mai]

Extremely simple to do as long as you have the Foreign Exchange Transaction certificate, or similar, showing that the money came into the country in the first place, from outside Thailand.

not true anymore

Then change your bank, it's no problem for me at my bank.

[JacChang]

Please never exchange cash for foreign cash at the banks. Use superrich please, google it and be the wise one. You will never exchange anywhere EVER again. Now you know.

[Naam]

Please never exchange cash for foreign cash at the banks. Use superrich please, google it and be the wise one. You will never exchange anywhere EVER again. Now you know.

now you know that only an idiot drives several hundred miles with a substantial amount of cash in his car because there's no Superrich in his vicinity.

[Naam]

Extremely simple to do as long as you have the Foreign Exchange Transaction certificate, or similar, showing that the money came into the country in the first place, from outside Thailand.

not true anymore

Then change your bank, it's no problem for me at my bank.

and your bank is...?