Faustian Posted November 10, 2007 Report Share Posted November 10, 2007 Sounds better...lets see what really happens... Link to comment Share on other sites More sharing options...
WorldFun Posted November 11, 2007 Report Share Posted November 11, 2007 LOL thanks for posting this article, but as this no matter what happens after 23dec, still is TiT I won't put much trust in such statements ;-) However what I've learnt so far with Thai banks is not to expect too much, be polite & persistant & to be well informed oneself before trying to query the bank in complicated matters :-) Link to comment Share on other sites More sharing options...
woooosh Posted December 6, 2007 Report Share Posted December 6, 2007 Hi All, My problem is not about transfering from abroad...it's transfering out of Thailand. Brief history...I am purchasing a condo in Thailand...My salary is sent from an Aussie company so 90% of my cash reserves is in a Thai Bank. I therefore must send my funds for a quick holiday abroad and bring them back for purchasing the condo. I believe any transfer greater than US$20k/day requires an invoice from the reciever (which would be me). So how do I transfer funds (about 6m to my aussie bank account without legit paperwork (ie invoice)? Link to comment Share on other sites More sharing options...
WorldFun Posted December 8, 2007 Report Share Posted December 8, 2007 I'm sorry to ask, but why the fuck do you transfer your AUD salary to a THB thai bank account??? The way to go is to keep as much money as possible outside of LOS as long as you can in order to avoid situations like these? But you're right I believe there's something called 'withhold' tax of say 10% when transferring money out of LOS & lots of other possible restrictions, so be very careful not to bering in more money than you need on a day to day basis ever! Perhaps in order to pull off your condo purchase you really have to truck out your 6M in cash, deposit overseas only to transfer it back to LOS & voila your ready to go buy that elusive thai condo! Now since OZ really is too far & expense to fly just to handle this technicality how about bringing the cash out to HK or SIN, deposit in new AUD/EUR/USD/SGD/HKD account & then transfer to THB the next day? Just a tip ;-) Link to comment Share on other sites More sharing options...
samak Posted December 14, 2007 Report Share Posted December 14, 2007 agreed with WorldFun! wooosh is obviously empoyed by a australian company working in thailand. why is his employer transfering all the money to thailand? that does not make sense. you will have trouble to get the money out of thailand when you leave! in most of the expat arrangements in thailand only the part of the salary locally used is transfered to or payed out in thailand Link to comment Share on other sites More sharing options...
Mekong Posted December 14, 2007 Report Share Posted December 14, 2007 I concur with Samak on this one, see I can agree with you once in a while Out of 1200 employees in the company I work for approx 100 of us are expats, we are all employed out of our Singapore office and seconded to Thailand. Salary goes from Singapore to an offshore account of our own choice. For WP reasons we are paid 55K THB / month "allowance" in Thailand. Local taxes are paid on our behalf by the company based on number of days / annum in kingdom. As Worldfun quite correctly stated, it is wise to keep as much as possable outside of Thailand, this place is a casino and one only has here what one can afford to loose. Back to the OP, once the wife and I had paid off the Mortgage on our properties, she "Sold Me" one of them for 1000 THB (2 Condos converted into 1, 2 housebooks)and I got one housebook in my name. Since then I have used the collateral of the property as securety against other loans to finance speculative investments in new developments and all profits made are totally legit according to my solicitor (one of the wifes cousins) Link to comment Share on other sites More sharing options...
Kite_Flyer Posted December 16, 2007 Author Report Share Posted December 16, 2007 Thanks to all for their advice, information and insights. Much appreciated. From experience, what banks have people found it easiest to set up accounts with as a farang, and easiest to transfer funds into/out of Thailand electronically? SuaDum's experience with Kasikorn Bank is positive. Any others? Any recommendations (for or against)? Regards, KF Link to comment Share on other sites More sharing options...
cavanami Posted December 16, 2007 Report Share Posted December 16, 2007 Kasikorn Bank is the best for a farang that does not have a retirement or work visa. Link to comment Share on other sites More sharing options...
woooosh Posted December 21, 2007 Report Share Posted December 21, 2007 Hi Gents. An update... Firstly, no need for me to disclose why 100% of my salary is sent to Thailand....I have my reasons. As far as "trucking it out"...too damn risky these days. Anyway, I appreciate all views and comments. I have now been semi successful in sending the funds via TT to my aussie account (in a round about way). As I said before...I believed a person could TT funds out of Thailand for the amount up to US$20K per DAY (without documented reason such as a PO). However, I did not really want to visit the bank 5 or 6 days in a row to make the transactions. But, thinking this was my only option, I began the process. All fine for first TT...I arrived the next day for more of the same and was told the the limit applies per MONTH...not day!!! However, they did say the FTT rule is NOT rigid and applies on a "case by case" request. I was told if I had good reason to send the funds to a family member and a letter from this family member requesting funds for tertiary expenses or some other fair and good reason (believable reason) then they would consider the case. I provided a letter the next day and it was APPROVED on the spot by the branch supervisor....and I was able to TT 5m baht to another family member's account. NB...I am posting this msg without notification of the money being in the beneficiaries account so fingers crossed that the bank of Thailand does not veto the TT. I will update you guys with the final outcome. Link to comment Share on other sites More sharing options...
woooosh Posted December 21, 2007 Report Share Posted December 21, 2007 Receipt has been confirmed Link to comment Share on other sites More sharing options...
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