Guest Posted October 16, 2006 Report Share Posted October 16, 2006 Anyone know the full details on moving money from the UK to Thailand...how much is the maximum i can transfer for example...i simply want to move money from my english bank account to my Thai one, but i want to move a lot...millions of baht....or if someone wants to deposit money in my account from theirs in the UK, any problems i might encounter?? I want to buy a condo....thanks! Link to comment Share on other sites More sharing options...
cavanami Posted October 16, 2006 Report Share Posted October 16, 2006 Each bank, on both sides, have their own rules. Will need to check with the UK bank; fees, amounts you can xfer, procedures, etc. Thai side; need the bank's SWIFT number, bank address, etc. I frequently xfer from the USA > Malaysia and from China > USA and it is quick and easy. I use Citibank, on the USA side and Kasikorn in Thailand. For ease, Citibank is everywhere; China, Singapore, Malaysia and Thailand. Link to comment Share on other sites More sharing options...
Mekong Posted October 16, 2006 Report Share Posted October 16, 2006 Not entirley sure of the actual law, then again I doubt if the banks theselves are, but I have heard that if you transfer in more than 1 million THB in one shot you need a letter to the bank explaining source of funds and what you wish to use them for. I have only transferred in sums less than 1 Mill at a time and have never had a problem even when I did 10K STG on 2 consecutive days (1.4 mill ish). Sorry my info is not much help, I can only tell you my own experiences. Link to comment Share on other sites More sharing options...
drogon Posted October 16, 2006 Report Share Posted October 16, 2006 I have recently transfered a few millions of bht from my belgian account to my thai account. No problem at all. I do not know about UK banks but thai banks only charge a minimal fee (which is ricidulously low compared to the millions you transfer) If I remember well it was around 800 bht that kasikorn bank took on the amount. Now as it is Europe the transfer fees are quite high but not that high in my case (I paid around 80 british pounds) I did not have any question neither from the thai bank or the belgian bank and the wire transfer was well above 1 million bht. now one important thing, when you make an international wire transfer you can choose to transfer (lest say from your UK account) in pounds or in baht, if the transfer is in pounds then the thai bank will make the currency conversion, if the amount is in baht then this is the uk bank (and banks in europe do not have good exchange rates in general). Another thing is that you have to choose wether the sender pays the fees or if it is the receiver or if the fees are split. I would advise you to pay the fees fully as the sender so you can control how much they will take as a commission. Check the commission rates with your UK bank. Link to comment Share on other sites More sharing options...
Guest Posted October 16, 2006 Report Share Posted October 16, 2006 Thanks for the info thus far, much appreciated...is there a ceiling on the amount? I read somewhere that 10 million is the most? Link to comment Share on other sites More sharing options...
Mekong Posted October 16, 2006 Report Share Posted October 16, 2006 My Bank in The Isle of Man Charges a fixed 35 STG transfer fee regardless of the amount involved. As for requirements for others transferring into your account, as Cavanami rightly pointed out, Bank Name, Bank Address, SWIFT Code, Account Holders Name and Account Number. What I found with Bangkok Bank is that the Branch Address is the Head Office on Sathorn and not the Branch I hold my account at Link to comment Share on other sites More sharing options...
Torneyboy Posted October 16, 2006 Report Share Posted October 16, 2006 I know the banks in OZ report to the Tax office all transfers over $10k (300kTHB).. Link to comment Share on other sites More sharing options...
samak Posted October 16, 2006 Report Share Posted October 16, 2006 be aware that european banks report all transfers above a certain amount to the CIA!!! Link to comment Share on other sites More sharing options...
Mekong Posted October 16, 2006 Report Share Posted October 16, 2006 be aware that european banks report all transfers above a certain amount to the CIA!!! What the Fux does the CIA have to do with a Non-American moving funds from a Country that is not America to a Third country that is also not America? Samak I think you are talking Shite with this comment and if you cannot back up your rediculous comments with proof then you will demonstrating you are talking shite. Admittedly when I opened my IOM account I had to fill in reams of paperwork including verification from a Thai Lawyer that I did live in Thailand, Working in Saudi, getting paid out of UAE and transferring funds to Thailand did look a bit suspicious at the time, but I very much doubt that the Freakin CIA had to sanction or authenticate my credentials. Dillussions of grandeur from a US perspective. Link to comment Share on other sites More sharing options...
ThaiHome Posted October 16, 2006 Report Share Posted October 16, 2006 Actualy I belive it is SWIFT (not the banks themselves)that has allowed the CIA to use data mining on transfer information. I don't think the OP was concerned about reporting, just any legal limits. To my knowledge there are no legal limits on tranfer of USD to Thailand. TH Link to comment Share on other sites More sharing options...
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