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Restrictions For Incoming Money, Are there any restrictions for transfering money into Thailand |
 2008-08-04 16:49:29
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#1
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Senior Member  Group: Members Posts: 398 Joined: 2004-10-08 From: Nongkhai, Thailand Member No.: 13,502  |
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2008-08-04 21:17:31
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#2
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Having fun is half the fun Group: Advanced Members Posts: 1,007 Joined: 2007-03-02 From: You'll never guess Member No.: 42,849 |
Hi. In the Bank of Thailand web site you will find a policy on bringing money into and taking money out of Thailand. www.bot.or.th I think. It may take you a little while to find it but it is definitely there. I don't think you will have any problems with your wife unless she has been earning squillions of $$$
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2008-08-05 00:50:18
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#3
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Unobtainium Member Group: Advanced Members Posts: 3,015 Joined: 2007-09-16 Member No.: 51,988 |
http://www.bot.or.th/English/ForeignExchan...ControlLaw.aspx
QUOTE c. Currency Regulations
1) Foreign Currency Foreign currencies can be brought into Thailand without limit. Any person receiving foreign currencies from abroad is required to sell such foreign currencies to an authorized financial institution or to deposit them in a foreign currency account with an authorized financial institution within 360 days from receipt, except foreigners temporarily staying in Thailand for not more than three months, foreign embassies, and international organizations. |
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2008-08-05 01:34:28
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#4
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a slightly wrinkly member Group: Advanced Members Posts: 3,122 Joined: 2008-05-29 Member No.: 62,645 |
QUOTE (flying @ 2008-08-05 00:50:18)  http://www.bot.or.th/English/ForeignExchan...ControlLaw.aspx QUOTE c. Currency Regulations 1) Foreign Currency Foreign currencies can be brought into Thailand without limit. Any person receiving foreign currencies from abroad is required to sell such foreign currencies to an authorized financial institution or to deposit them in a foreign currency account with an authorized financial institution within 360 days from receipt, except foreigners temporarily staying in Thailand for not more than three months, foreign embassies, and international organizations. Excellent - in my view that information should be pinned - together with the later note about taking 500,000 Baht out to neighbouring countries or 50,000 Baht to other countries. |
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2008-08-05 06:46:51
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#5
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Unobtainium Member Group: Advanced Members Posts: 3,015 Joined: 2007-09-16 Member No.: 51,988 |
QUOTE (Chaimai @ 2008-08-04 08:34:28) QUOTE (flying @ 2008-08-05 00:50:18) http://www.bot.or.th/English/ForeignExchan...ControlLaw.aspx QUOTE c. Currency Regulations 1) Foreign Currency Foreign currencies can be brought into Thailand without limit. Any person receiving foreign currencies from abroad is required to sell such foreign currencies to an authorized financial institution or to deposit them in a foreign currency account with an authorized financial institution within 360 days from receipt, except foreigners temporarily staying in Thailand for not more than three months, foreign embassies, and international organizations. Excellent - in my view that information should be pinned - together with the later note about taking 500,000 Baht out to neighbouring countries or 50,000 Baht to other countries. Agreed ! http://www.bot.or.th/English/ForeignExchan...ControlLaw.aspx c. Currency Regulations 1) Foreign Currency Foreign currencies can be brought into Thailand without limit. Any person receiving foreign currencies from abroad is required to sell such foreign currencies to an authorized financial institution or to deposit them in a foreign currency account with an authorized financial institution within 360 days from receipt, except foreigners temporarily staying in Thailand for not more than three months, foreign embassies, and international organizations. Foreign exchange purchase or hedging with authorized financial institutions is generally available where a genuine underlying current or capital transaction exists. 2) Local Currency There is no restriction on the amount of Baht that may be brought into the country. A person travelling to Thailand's bordering countries including Vietnam is allowed to take out Baht up to 500,000 Baht and to other country up to 50,000 Baht respectively without authorization. |
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2008-08-07 11:30:39
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#6
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Advanced Member Group: Members Posts: 86 Joined: 2006-07-21 From: Bangkok Member No.: 32,329 |
What I would like to know is if there are any restrictions on taking foreign currency out of Thailand in cash. I'm much better off - exchange rate and bank charges wise - converting my Thai Baht in cash here at some of the specialist money changers than doing in through a normal bank transfer.
Also would like to know what restrictions, amount wise, there are here on converting my baht to Foreign currency and sending it by TT to a European bank. I am aware of the Thai Baht limitations in hard currency, I've heard rumours you can't take out more than $10,000 per person in cash but nowhere have I been able to find a definitive guide |
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2008-08-07 12:22:37
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#7
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Star Member Group: Advanced Members Posts: 10,138 Joined: 2006-09-22 From: Nongprue (next to Mia Noi) Member No.: 35,218 |
QUOTE (MattFS218 @ 2008-08-04 16:49:29) I was wondering if there are any restrictions for transferring foreign money into thailand for a thai national? my wife has lived with me abroad for the past year, and would like to transfer some of her money she has made into her Thai bank account. Is the process strait forward? wire to Bangkok Bank account, money shows up next day? Are there any bureaucratic limits? none |
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2008-08-14 15:13:26
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#8
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gentleman of leisure Group: Advanced Members Posts: 1,804 Joined: 2008-01-04 From: Muang Thong Thani Member No.: 56,342 |
QUOTE (flying @ 2008-08-05 01:46:51) QUOTE (Chaimai @ 2008-08-04 08:34:28) QUOTE (flying @ 2008-08-05 00:50:18) http://www.bot.or.th/English/ForeignExchan...ControlLaw.aspx QUOTE c. Currency Regulations 1) Foreign Currency Foreign currencies can be brought into Thailand without limit. Any person receiving foreign currencies from abroad is required to sell such foreign currencies to an authorized financial institution or to deposit them in a foreign currency account with an authorized financial institution within 360 days from receipt, except foreigners temporarily staying in Thailand for not more than three months, foreign embassies, and international organizations. Excellent - in my view that information should be pinned - together with the later note about taking 500,000 Baht out to neighbouring countries or 50,000 Baht to other countries. Agreed ! http://www.bot.or.th/English/ForeignExchan...ControlLaw.aspx c. Currency Regulations 1) Foreign Currency Foreign currencies can be brought into Thailand without limit. Any person receiving foreign currencies from abroad is required to sell such foreign currencies to an authorized financial institution or to deposit them in a foreign currency account with an authorized financial institution within 360 days from receipt, except foreigners temporarily staying in Thailand for not more than three months, foreign embassies, and international organizations. Foreign exchange purchase or hedging with authorized financial institutions is generally available where a genuine underlying current or capital transaction exists. 2) Local Currency There is no restriction on the amount of Baht that may be brought into the country. A person travelling to Thailand's bordering countries including Vietnam is allowed to take out Baht up to 500,000 Baht and to other country up to 50,000 Baht respectively without authorization. But if you take morte than 20 000 $US or his equivalent you must report when entering the country. I have the following question. Next year I will move up to Thailand and will bring much more than that amount in Euro, cash to Thailand, due to the high transfer rate. If I don't report it will I have problems when I like to put that money in my FCD account at my local bank. And because I'm a believer in Murphy's law who sais what can go wrong wil go wrong, what will happend if Thai costums at Suva find that money without reporting it. |
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2008-08-14 18:13:24
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#9
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Star Member Group: Advanced Members Posts: 10,138 Joined: 2006-09-22 From: Nongprue (next to Mia Noi) Member No.: 35,218 |
QUOTE (henryalleman @ 2008-08-14 15:13:26) Next year I will move up to Thailand and will bring much more than that amount in Euro, cash to Thailand, due to the high transfer rate. suit yourself but be aware that changing cash will cost you a multiple of the "high transfer rate" (which is actually not high at all) 
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2008-08-14 23:56:37
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#10
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gentleman of leisure Group: Advanced Members Posts: 1,804 Joined: 2008-01-04 From: Muang Thong Thani Member No.: 56,342 |
QUOTE (Naam @ 2008-08-14 13:13:24) QUOTE (henryalleman @ 2008-08-14 15:13:26) Next year I will move up to Thailand and will bring much more than that amount in Euro, cash to Thailand, due to the high transfer rate. suit yourself but be aware that changing cash will cost you a multiple of the "high transfer rate" (which is actually not high at all) Thanks for your advise, I did calculate it, and indeed the changing costs are almost 8 times more compared with a Swift transfer. you did safe me a lot of money, thanks again. |
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2008-08-15 07:21:47
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#11
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Star Member Group: Advanced Members Posts: 10,138 Joined: 2006-09-22 From: Nongprue (next to Mia Noi) Member No.: 35,218 |
QUOTE (henryalleman @ 2008-08-14 23:56:37) QUOTE (Naam @ 2008-08-14 13:13:24) QUOTE (henryalleman @ 2008-08-14 15:13:26) Next year I will move up to Thailand and will bring much more than that amount in Euro, cash to Thailand, due to the high transfer rate. suit yourself but be aware that changing cash will cost you a multiple of the "high transfer rate" (which is actually not high at all) Thanks for your advise, I did calculate it, and indeed the changing costs are almost 8 times more compared with a Swift transfer. you did safe me a lot of money, thanks again. you owe me a cold beer 
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2008-08-15 16:20:54
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#12
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gentleman of leisure Group: Advanced Members Posts: 1,804 Joined: 2008-01-04 From: Muang Thong Thani Member No.: 56,342 |
QUOTE (Naam @ 2008-08-15 02:21:47) QUOTE (henryalleman @ 2008-08-14 23:56:37) QUOTE (Naam @ 2008-08-14 13:13:24) QUOTE (henryalleman @ 2008-08-14 15:13:26) Next year I will move up to Thailand and will bring much more than that amount in Euro, cash to Thailand, due to the high transfer rate. suit yourself but be aware that changing cash will cost you a multiple of the "high transfer rate" (which is actually not high at all) Thanks for your advise, I did calculate it, and indeed the changing costs are almost 8 times more compared with a Swift transfer. you did safe me a lot of money, thanks again. you owe me a cold beer OK a Hoegaerden or Leffe when I'm in Pattaya, |
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2008-08-16 16:26:42
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#13
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gentleman of leisure Group: Advanced Members Posts: 1,804 Joined: 2008-01-04 From: Muang Thong Thani Member No.: 56,342 |
QUOTE (Naam @ 2008-08-15 02:21:47) QUOTE (henryalleman @ 2008-08-14 23:56:37) QUOTE (Naam @ 2008-08-14 13:13:24) QUOTE (henryalleman @ 2008-08-14 15:13:26) Next year I will move up to Thailand and will bring much more than that amount in Euro, cash to Thailand, due to the high transfer rate. suit yourself but be aware that changing cash will cost you a multiple of the "high transfer rate" (which is actually not high at all) Thanks for your advise, I did calculate it, and indeed the changing costs are almost 8 times more compared with a Swift transfer. you did safe me a lot of money, thanks again. you owe me a cold beer I own you 2 beers, I took some additional infornation by mail and phone with Kasikorn. Thai banks are a scam When I open an FCD account and take out Thai baht, not only I have to pay the banknote rate but also an additionel 1% on te the money taking out with a minimum of 1000 baht. So I think I leave my assets in my home country and will send money if needed by Swift. |
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2008-08-17 03:28:23
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#14
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Advanced Member Group: Members Posts: 98 Joined: 2008-07-30 From: Trang/UK Member No.: 65,591 |
I want to transfer 13 000 to a Thai Bank Account before the rate worsens...
I'm with LloydsTSB in the UK and the account is Siam Commercial Bank in Thailand, I'll get pretty poor rate doing it that way. I've read on here about Offshore accounts with HSBC and also SWIFT. I carried £8000 to Thailand on 24th July(ish) and got a better rate and wasn't charged by the bank changing it. I got a better rate by changing Sterling > Baht there. Saved about £700 quid overall (42 000ish). I'm back in the UK now and wish to transfer the 13k to Thailand. I want to transfer the money, same as OPs intention and I want to do it quite sharpish before the rate worsens with the dismal weakening of the pound at the moment. Best and quickest way? From your experience I mean, I'm not lazy to look on google etc just want some advice. The website I found was http://www.worldwidecurrencies.com -- is this what you use? I have only a UK Bank Account. Thanks - Shug |
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2008-09-03 13:09:52
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#15
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Senior Member Group: Members Posts: 306 Joined: 2008-09-01 From: bangkok Member No.: 67,346 |
QUOTE (Pappiklon @ 2008-08-07 11:30:39) What I would like to know is if there are any restrictions on taking foreign currency out of Thailand in cash. I'm much better off - exchange rate and bank charges wise - converting my Thai Baht in cash here at some of the specialist money changers than doing in through a normal bank transfer. Also would like to know what restrictions, amount wise, there are here on converting my baht to Foreign currency and sending it by TT to a European bank. I am aware of the Thai Baht limitations in hard currency, I've heard rumours you can't take out more than $10,000 per person in cash but nowhere have I been able to find a definitive guide my bank said could not wire or EFT out of thai, but im farrang not thai. cash, i learnd is problem, going out but not sure what ht elimit is. I got my mind on my money and my money on my mind. |
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2008-09-03 13:56:22
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#16
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Super Member Group: Advanced Members Posts: 1,620 Joined: 2005-02-10 From: Hampstead, London and The Park Chidlom, Chit Lom, Bangkok Member No.: 16,669 |
Just for completeness sake - if you are transferring money into Thailand to buy a condominium under the full or partial foreign 49% ownership quota, you must identify the purpose of the funds on the transfer form, otherwise you run into difficulties.
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2008-09-03 14:54:03
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#17
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Senior Member Group: Members Posts: 306 Joined: 2008-09-01 From: bangkok Member No.: 67,346 |
QUOTE (henryalleman @ 2008-08-14 15:13:26) QUOTE (flying @ 2008-08-05 01:46:51) QUOTE (Chaimai @ 2008-08-04 08:34:28) QUOTE (flying @ 2008-08-05 00:50:18) http://www.bot.or.th/English/ForeignExchan...ControlLaw.aspx QUOTE c. Currency Regulations 1) Foreign Currency Foreign currencies can be brought into Thailand without limit. Any person receiving foreign currencies from abroad is required to sell such foreign currencies to an authorized financial institution or to deposit them in a foreign currency account with an authorized financial institution within 360 days from receipt, except foreigners temporarily staying in Thailand for not more than three months, foreign embassies, and international organizations. Excellent - in my view that information should be pinned - together with the later note about taking 500,000 Baht out to neighbouring countries or 50,000 Baht to other countries. Agreed ! http://www.bot.or.th/English/ForeignExchan...ControlLaw.aspx c. Currency Regulations 1) Foreign Currency on flights from US passenger cant have more than 10k american, or you must report. sure i read their is law on other flights as well have not been able to find the info. re; murphys law, would it not be better to transfer the $ to your account and not risk some phony payoff, fine, bribe, or whatever? Foreign currencies can be brought into Thailand without limit. Any person receiving foreign currencies from abroad is required to sell such foreign currencies to an authorized financial institution or to deposit them in a foreign currency account with an authorized financial institution within 360 days from receipt, except foreigners temporarily staying in Thailand for not more than three months, foreign embassies, and international organizations. Foreign exchange purchase or hedging with authorized financial institutions is generally available where a genuine underlying current or capital transaction exists. 2) Local Currency There is no restriction on the amount of Baht that may be brought into the country. A person travelling to Thailand's bordering countries including Vietnam is allowed to take out Baht up to 500,000 Baht and to other country up to 50,000 Baht respectively without authorization. But if you take morte than 20 000 $US or his equivalent you must report when entering the country. I have the following question. Next year I will move up to Thailand and will bring much more than that amount in Euro, cash to Thailand, due to the high transfer rate. If I don't report it will I have problems when I like to put that money in my FCD account at my local bank. And because I'm a believer in Murphy's law who sais what can go wrong wil go wrong, what will happend if Thai costums at Suva find that money without reporting it. |
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2008-09-04 00:22:38
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#18
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Unobtainium Member Group: Advanced Members Posts: 3,015 Joined: 2007-09-16 Member No.: 51,988 |
QUOTE (robee @ 2008-09-02 21:54:03) But if you take morte than 20 000 $US or his equivalent you must report when entering the country. I have the following question. Next year I will move up to Thailand and will bring much more than that amount in Euro, cash to Thailand, due to the high transfer rate. If I don't report it will I have problems when I like to put that money in my FCD account at my local bank. And because I'm a believer in Murphy's law who sais what can go wrong wil go wrong, what will happend if Thai costums at Suva find that money without reporting it. The fact that you believe in Murphy's law makes that transfer rater look cheaper  Does it not? Just to carry into TL much more than 20k USD in Euro as you say makes me shudder. |
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2008-10-13 23:35:48
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#19
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Newbie Group: Members Posts: 2 Joined: 2008-10-13 Member No.: 69,620 |
QUOTE (flying @ 2008-09-04 00:22:38) QUOTE (robee @ 2008-09-02 21:54:03) But if you take morte than 20 000 $US or his equivalent you must report when entering the country. I have the following question. Next year I will move up to Thailand and will bring much more than that amount in Euro, cash to Thailand, due to the high transfer rate. If I don't report it will I have problems when I like to put that money in my FCD account at my local bank. And because I'm a believer in Murphy's law who sais what can go wrong wil go wrong, what will happend if Thai costums at Suva find that money without reporting it. The fact that you believe in Murphy's law makes that transfer rater look cheaper Does it not? Just to carry into TL much more than 20k USD in Euro as you say makes me shudder. |
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2008-10-31 21:54:29
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#20
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Advanced Member Group: Members Posts: 98 Joined: 2004-06-10 From: Bangkok Member No.: 10,544 |
I have money sent every month from the UK to my Thai bank account.
If you send money from the UK you must tell your bank to send it as sterling and not let them covert it to Baht first as the rate in the uK is 4 or 5 Baht lower than here. Once it arrives in my Bangkok bank account they convert it at a very good rate. Doing it this way has save me loads of money. Whole process does take up t 5 days though. |
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2008-11-29 08:12:45
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#21
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Newbie Group: Members Posts: 4 Joined: 2008-11-29 From: Where those good trees be Member No.: 71,911 |
There shouldn't be any restrictions. Maybe fees.
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2009-02-12 13:13:55
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#22
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Member Group: Members Posts: 12 Joined: 2007-05-12 Member No.: 46,089 |
I have read the rules concerning foriegn exchange but can someone please answer for me the following questions.A friend is bringing me about 8000 GBP in cash which is not dodgy money but thats the way he wants to do it and as I do not have a foriegn currency account but just a savings account with TMB can I just walk in my bank and deposit the GBP and my account will be credited with Thai Baht. Thank you in anticipation.
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2009-06-11 00:55:38
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#23
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Senior Member Group: Members Posts: 111 Joined: 2009-05-25 From: Middlesbrough & Vientiane Member No.: 83,727 |
QUOTE (Cyprus1951 @ 2009-02-15 17:02:13) QUOTE (jonny48 @ 2009-02-12 14:31:01) QUOTE (ShugNorris @ 2008-08-17 03:28:23) I want to transfer 13 000 to a Thai Bank Account before the rate worsens... I'm with LloydsTSB in the UK and the account is Siam Commercial Bank in Thailand, I'll get pretty poor rate doing it that way. open a nationwide acc you dont pay a penny to draw money in thailand and they give a good exchange rate I've read on here about Offshore accounts with HSBC and also SWIFT. I carried £8000 to Thailand on 24th July(ish) and got a better rate and wasn't charged by the bank changing it. I got a better rate by changing Sterling > Baht there. Saved about £700 quid overall (42 000ish). I'm back in the UK now and wish to transfer the 13k to Thailand. I want to transfer the money, same as OPs intention and I want to do it quite sharpish before the rate worsens with the dismal weakening of the pound at the moment. Best and quickest way? From your experience I mean, I'm not lazy to look on google etc just want some advice. The website I found was http://www.worldwidecurrencies.com -- is this what you use? I have only a UK Bank Account. I used foreign Currency Exchange in the UK, got a good rate. very happy with then, they bought Bth for me and sent it. Took 5 days. Thanks - Shug I have never heard of problems putting money into a bank in Thailand, but many where the problem was taking it out. Then thats when all the questions start so be carful if you want to get it out fast for some reason |
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2009-08-15 09:45:34
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#24
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Senior Member Group: Members Posts: 266 Joined: 2005-08-19 Member No.: 21,447 |
I have heard/read from multiple sources that a foreigner can transfer up to $20,000 US into Thailand without the government being concerned/getting involved.
Is this $20,000 per transfer? Or per month Or per year? Thank you. This post has been edited by up-country_sinclair: 2009-08-15 09:46:29 |
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2009-08-17 02:17:42
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#25
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Advanced Member Group: Members Posts: 43 Joined: 2007-01-28 Member No.: 41,249 |
I'm thinking of transferring some Aussie Dollars via internet banking from my Aussie bank a/c to my Thai bank a/c. Will I get the exchange rate offered by my Thai bank (the receiving bank) or will it be set by the sending bank (ie Aussie bank)?
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