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[Suiken]

open up a baht account in your home country, also in Thailand open up a USD or your home country currency account.  Then wire baht from your home country's baht account when rate is to your advantage, if not wire your home currency to Thailand USD( or your home country currency )account in Thailand

[pkrv]

Suiken, on 2010-11-05 22:37:10, said:

open up a baht account in your home country, also in Thailand open up a USD or your home country currency account.  Then wire baht from your home country's baht account when rate is to your advantage, if not wire your home currency to Thailand USD( or your home country currency )account in Thailand

Err... have you done this - please explain.

[HPRFARANG]

QUESTION:                                                                                                                                                                    
  MONEY TRANSFER,GLOBAL,OUTWARDS IN INTERNET BANKING.                                                                      
  1. BUALUNG iBANKING. to repatriate income T(                                                                                                                                                                                                             
   IS IT TRUE THAT YOU MUST BE A SALARY-MAN HERE IN THAILAND?AN BKB-ACCOUNT+ VISA+IBANKING-   ACCOUNT IS NOT ENOUGHT.
YOUHAVE 5 MIL BT ,--- BUT NIL.YOU ARE MR NOBODY .,ONLY A WEALTHY SENIOR WITH MULTI O-VISA.
2. AT SCB YOU HAVE NON BROBLEMS .AN ACCOUNT IS ONLY REQUIREMENT + QUITE A  HIGH CEILING .
3. I SOLD MY CONDO AND PUT EVERYTHING ON 1.ONE,ACCOUNT IS NOT SO INTELLIGENT.
     IF SOMONE CAN EXPLAIN THIS BKB.BANK REQUIREMENT(MUST HAVE SALARY IN THAILAND)
       PLS HELP THE OLD MAN!!!!!!!!!!!!!!

Edited by HPRFARANG, 2010-11-21 12:01:08.

[Daveroc]

HPRFARANG, on 2010-11-21 11:55:52, said:

QUESTION:                                                                                                                                                                    
  MONEY TRANSFER,GLOBAL,OUTWARDS IN INTERNET BANKING.                                                                      
  1. BUALUNG iBANKING. to repatriate income T(                                                                                                                                                                                                             
   IS IT TRUE THAT YOU MUST BE A SALARY-MAN HERE IN THAILAND?AN BKB-ACCOUNT+ VISA+IBANKING-   ACCOUNT IS NOT ENOUGHT.
YOUHAVE 5 MIL BT ,--- BUT NIL.YOU ARE MR NOBODY .,ONLY A WEALTHY SENIOR WITH MULTI O-VISA.
2. AT SCB YOU HAVE NON BROBLEMS .AN ACCOUNT IS ONLY REQUIREMENT + QUITE A  HIGH CEILING .
3. I SOLD MY CONDO AND PUT EVERYTHING ON 1.ONE,ACCOUNT IS NOT SO INTELLIGENT.
     IF SOMONE CAN EXPLAIN THIS BKB.BANK REQUIREMENT(MUST HAVE SALARY IN THAILAND)
       PLS HELP THE OLD MAN!!!!!!!!!!!!!!

Not sure what the reluctance of the Bank to process your requesr would be. The usual requirement is to prove you either brought the money into the country or that you have earned the funds while here and now wish to repatriate offshore. Proof of earnings can either be the Salary slips or a letter from your employer. Under the BOT regulations the Banks are unable to remit without sighting evidence in either case.

If your situation is outside of either of thiese examples the Bank will need to make application to the BOT on your behalf

[HPRFARANG]

Daveroc, on 2010-11-22 13:28:44, said:

HPRFARANG, on 2010-11-21 11:55:52, said:

QUESTION:                                                                                                                                                                    
  MONEY TRANSFER,GLOBAL,OUTWARDS IN INTERNET BANKING.                                                                      
  1. BUALUNG iBANKING. to repatriate income T(                                                                                                                                                                                                             
   IS IT TRUE THAT YOU MUST BE A SALARY-MAN HERE IN THAILAND?AN BKB-ACCOUNT+ VISA+IBANKING-   ACCOUNT IS NOT ENOUGHT.
YOUHAVE 5 MIL BT ,--- BUT NIL.YOU ARE MR NOBODY .,ONLY A WEALTHY SENIOR WITH MULTI O-VISA.
2. AT SCB YOU HAVE NON BROBLEMS .AN ACCOUNT IS ONLY REQUIREMENT + QUITE A  HIGH CEILING .
3. I SOLD MY CONDO AND PUT EVERYTHING ON 1.ONE,ACCOUNT IS NOT SO INTELLIGENT.
     IF SOMONE CAN EXPLAIN THIS BKB.BANK REQUIREMENT(MUST HAVE SALARY IN THAILAND)
       PLS HELP THE OLD MAN!!!!!!!!!!!!!!

Not sure what the reluctance of the Bank to process your requesr would be. The usual requirement is to prove you either brought the money into the country or that you have earned the funds while here and now wish to repatriate offshore. Proof of earnings can either be the Salary slips or a letter from your employer. Under the BOT regulations the Banks are unable to remit without sighting evidence in either case.

If your situation is outside of either of thiese examples the Bank will need to make application to the BOT on your behalf

I HAVE BROUGHT MONIES FROM MY  HOMECOUNTRY ,OTHERWAYS  I COULD NOT TO BUY MY CONDO.--I BELIEVE THAT "MANAGER" IS NOT SO UP-TO-DATE OR PURELY HE DOESNT LIKE MY FACE.
I HAVE ASKED AND I NOW DO KNOW THAT THIS GENTLEMAN IS AN ECONOM WITH HON.--BUT---THERE ARE MANY MANY OTHER BANKS(ALSO IN SINGAPORE/HONGKONG!)
SO MANY THANKS FOR YOUR COMMENTS.

[dsfbrit]

pkrv, on 2010-10-15 18:33:39, said:

dsfbrit, on 2010-09-17 08:33:52, said:

Ok I am confused...

I understand the difference between the offshore rate and onshore rates etc...

I am advising a friend of mine who is coming to LOS to retire, about the best way to send over the 800K baht for the retirement visa. I have told him to send the money as a Sterling transfer as its always the best method and best exchange rate versus converting in the UK and getting the offshore rate. I always do this to my Kasikorn account.

However, I popped into this forum just to makes sure the good advice I was offered here a couple of years ago about this had not changed - and it appears it may have.

Could someone please confirm that I have told him correctly that a Sterling transfer is the best way to go.

Thanks very much...

The onshore off shore rate has indeed gone away - But the THB is not exactly the most traded of currencies. You correctly advised to transfer in Sterling..

Ohh and as I said previously the world is an ever changing dynamic - From a UK pespective forget Nationwide.

Thanks for this reply PKRV, you are right the world is an ever changing dynamic. My friends were here just 6 weeks and after realising how expensive it is to live here now, have decided to retire in the other country they love - South Africa. They can live there for about half the cost of the LOS, due mainly to rents in the part of SA where they will stay being so low and including all facilities ie: electricity, water and even satellite TV.

South Africa will require them to do border runs every 3 months, but with the baht exchange rate (pound) so low, offshore or onshore rates turned out not to be their major concern anyway.

[aurelius]

HPRFARANG, on 2010-11-21 11:55:52, said:

QUESTION:                                                                                                                                                                    
  MONEY TRANSFER,GLOBAL,OUTWARDS IN INTERNET BANKING.                                                                      
  1. BUALUNG iBANKING. to repatriate income T(     IS IT TRUE THAT YOU MUST BE A SALARY-MAN HERE IN THAILAND?AN BKB-ACCOUNT+ VISA+IBANKING-   ACCOUNT IS NOT ENOUGHT.
YOUHAVE 5 MIL BT ,--- BUT NIL.YOU ARE MR NOBODY .,ONLY A WEALTHY SENIOR WITH MULTI O-VISA.
2. AT SCB YOU HAVE NON BROBLEMS .AN ACCOUNT IS ONLY REQUIREMENT + QUITE A  HIGH CEILING .
3. I SOLD MY CONDO AND PUT EVERYTHING ON 1.ONE,ACCOUNT IS NOT SO INTELLIGENT.
IF SOMONE CAN EXPLAIN THIS BKB.BANK REQUIREMENT(MUST HAVE SALARY IN THAILAND)
   PLS HELP THE OLD MAN!!!!!!!!!!!!!!

Recommend that you send PM to IANGUYGIL who works at BKK Bank - he seems to be able to sort out some of these questions.

[Suiken]

hi guys, sent an international transfer to Kasikorn bank, but the rate seems low. (the rate should be BUYING RATE under TELEX transfer right? http://www.kasikornb...gnExchange.aspx    ) I called my bank and they told me that the middle bank  wachovia  will also charge a fee of 20 to 30 USD, and receiving bank in Thailand Kasikorn bank will also charge fee. But when I went into my account in Kasikorn it didn't list any fee when it got the wire transfer. or maybe it's listed somewhere else? So does Kasikorn charge you fee when it receives international transfer? if so how much? and middle bank also charges fee? how much does your middle bank charges you? wow so initial bank charges you, middle bank, and also end bank. so many fees! next time i need to wire it when the amount is bigger!  Also it took 1 day for Kasikorn to get the wire, pretty good I guess. Is that how long it takes usually? I am guessing anywhere from 3 hours to 1 or 2 days? 3 hours if you wire from similar time zone during bank's operating hours.

btw the coversion to baht is low now....USD to THB is like 30.1.....it will be low for awhile eh? probably to the middle of next year since that's when the QE2 will be finishing up. what do you guys think?

Also before I set up the account with some hotel address, so I guess they  will mail monthly statement and other stuff to hotel? What if hotel  staff open it up and see my stuff, that won't be good , they will  know the account number etc...I am worried about this.

Edited by Suiken, 2010-11-30 12:36:18.

[DEREK-C]

Just to update the Nationwide, from 1/12/2010, no longer offers this service free. They now charge 2% of the transaction plus GBP1 for cash. This applies whether you obtain via an ATM or over the counter by cash advance. If you buy goods outside the UK using your card in a foreign currency you will be charged 2% but not the GBP1 for cash (How nice of them)

[Suiken]

before I set up the account with some hotel's address, so I guess they   will mail monthly statement and other stuff to hotel? What if hotel   staff open it up and see my stuff, that won't be good , they will  know the account number etc...I am worried about this. what do you guys think?

[david555]

Suiken, on 2011-01-01 14:06:06, said:

before I set up the account with some hotel's address, so I guess they   will mail monthly statement and other stuff to hotel? What if hotel   staff open it up and see my stuff, that won't be good , they will  know the account number etc...I am worried about this. what do you guys think?

in almost 3 years having KK never send me anything unless online by email , and not having a hotel adres but a normal street , number house /room ......use my ATM card& deposit ATM, sometimes passbook updating ,i handle KK online banking

[how241]

Silver Bars, Anywhere To Buy Them In Pattaya ?  ----I  want this to be a NEW topic but I don't see any links ???   Is there anywhere in Pattaya to buy silver bars ?  I was looking into giving some as a wedding gift. I can't afford to give gold. I have asked several gold shops but all of them say they don't handle silver, as it is not popular in Thailand. One shop suggested that I try Bangkok but that can be a expensive day out just to try and buy some silver bars and I would have no idea where to go in Bangkok or what shop might be trustworthy. Any suggestions? Thanks.

[Charger770]

I have a question re. transferring money to LOS:
I have an account there, but I'm wondering if there are any requirements or restrictions on transferring, say a million baht or more.
For instance, I know there is a $10,000 limit to transfer into Oz for example, then the ATO (Tax Dep.) starts asking questions.
Is there anything like this, or can I just move some/any amount of money there to my existing BBK bank or Ayudhya account?

[Daveroc]

Charger770, on 2011-07-17 15:19:45, said:

I have a question re. transferring money to LOS:
I have an account there, but I'm wondering if there are any requirements or restrictions on transferring, say a million baht or more.
For instance, I know there is a $10,000 limit to transfer into Oz for example, then the ATO (Tax Dep.) starts asking questions.
Is there anything like this, or can I just move some/any amount of money there to my existing BBK bank or Ayudhya account?

There are no restrictions on the transfer of funds into Thailand. However, over USD20,000 or equivalent, the Banks are required to complete documentation to the Bank of Thailand stating purpose of the transfer. Should you be wishing to return these funds at some later date, you should request a copy of this documentation from the Bank as evidence you brought the funds into the country in the first instance.

[scorpio]

Naam, on 2007-07-23 17:25:27, said:

exexpat, on 2007-07-23 13:16:56, said:

I wonder how everyone is managing?

i seriously consider sending my Old Lady to Germany. friends have told me she can make 12 €URos an hour wiping floors. that's nearly double what we paid our cleaning lady years ago! let's say she works 10 hours a day and i let her keep 20 €URos she could send 600 €URos every week to me. that's of course based on 6 working days. and if i could convince her to work 7 days a week... and perhaps some overtime...  

Are you for real,    send your ' old lady' to Germany to work while you enjoy yourself and her money in Thailand ,   I thought they done away with slavery years ago ,    and let her keep 20 euro,s a week out of the 600 she earns,    please forgive me but Im going to throw my guts up here!!!!!!

[davidxl]

Wife needed to send B100,000 to her 'Maire' in Surin.  I looked at the main UK banks they seemed expensive with on average a £20 fee and poor rate of exchange.  So I had a google and went for a company called the FX firm, UK based, no fees and they claimed the best rate I'd seen.  Opened an acount which took 2 minutes and emailed them on Tuiesday for the current rate, got a reply in less than an hour, rate was 48.40, about half a baht less than the rate on xe at the time .  So transferred the wife's money £2100 to their client account at Barclays the same day and it arrived at her mother's Government Savings account in Surin 3 days later (Today).  Her bank took B600 processing fee, nothing I can do about that I think, but overall it still worked out well compared to the banks.  I don't think you get the same government guarantee of safety your money as with the major banks, but worked fine for me and would do again.  Any better way of doing this sort of thing?