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BANGKOK 12 December 2018 13:22

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I have a strange situation.  I am living in Bangkok on a 1 year extension Visa.  I would like to transfer some money to my home Bank Account.

The problem is that my home bank is a Credit Union and they don't have Swift Code.  Apparently Thai banks need a Swift Code to transfer out of Thailand?

Any advice would be appreciated.

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You credit union may not have a SWIFT code, but they use the services of another U.S. bank where you send your money to that bank's SWIFT code along with another code that represents your credit union...and of course include you account number.  Then that bank then relays the transfer to your credit union/your account.

 

Just for example look at the USAA Bank response at below weblink since USAA Bank does not have a SWIFT code either; but they have instructions on how to send an international transfer to them which is a relay through another bank.  I'm sure your credit union has similar instructions...may be on their webpage or you may have to call/email them for the specifics.

 

https://communities.usaa.com/t5/Banking/swift-code/td-p/155899

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23 minutes ago, Pib said:

You credit union may not have a SWIFT code, but they use the services of another U.S. bank where you send your money to that bank's SWIFT code along with another code that represents your credit union...and of course include you account number.  Then that bank then relays the transfer to your credit union/your account.

 

Just for example look at the USAA Bank response at below weblink since USAA Bank does not have a SWIFT code either; but they have instructions on how to send an international transfer to them which is a relay through another bank.  I'm sure your credit union has similar instructions...may be on their webpage or you may have to call/email them for the specifics.

 

https://communities.usaa.com/t5/Banking/swift-code/td-p/155899

 

Pib, I was wondering this myself: Can you use Transferwise to send money from a Thai bank account to a U.S. bank account, instead of the reverse way we normally talk about here?

 

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7 minutes ago, TallGuyJohninBKK said:

 

Pib, I was wondering this myself: Can you use Transferwise to send money from a Thai bank account to a U.S. bank account, instead of the reverse way we normally talk about here?

 

Nope.   Can not use Transferwise to send money out of Thailand.   

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4 minutes ago, Pib said:

Nope.   Can not use Transferwise to send money out of Thailand.   

 

Darn!!!!  Thailand is like a roach motel. The money comes in, but it doesn't come out!!! :tongue:

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OP, how are you situated on the Thai end?

 

In other words, on the Thai end, if you have a work permit, the Thai banks make it reasonably easy thru their methods to send money out of Thailand, AFAIK.

 

But if you do NOT have a work permit, sending money out of Thailand using the Thai bank channels becomes somewhat more difficult.

 

However, this is not my area of expertise, which is the opposite, being getting money INTO Thailand!

 

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No one has said it but it is very difficult to transfer money out of Thailand to another country.  You must prove that you brought this money into the country you must get clearance from the Thai Central Bank.  Lots of paperwork

 

Your best way is if you have a GOOD friend going to the states is to get them to take your money to the US and to deposit it into your account.  Convert the money into dollars before you do this.

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On 7/14/2018 at 4:10 PM, TallGuyJohninBKK said:

OP, how are you situated on the Thai end?

 

In other words, on the Thai end, if you have a work permit, the Thai banks make it reasonably easy thru their methods to send money out of Thailand, AFAIK.

 

But if you do NOT have a work permit, sending money out of Thailand using the Thai bank channels becomes somewhat more difficult.

 

However, this is not my area of expertise, which is the opposite, being getting money INTO Thailand!

 

It is very easy to transfer money out of Thailand.....providing you can show proof where the money originated from.

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Posted (edited)
17 minutes ago, Pdavies99 said:

It is very easy to transfer money out of Thailand.....providing you can show proof where the money originated from.

 

So go ahead and elaborate in the following example:

 

no work permit. Wire transferred 1M baht in retirement savings from home country to Thailand 10 years ago. The principal has been in Thai banks ever since earning interest, but moved from bank to bank with account changes. And now, I want to leave Thailand and take all my 1M baht plus accrued interest back home with me...  How?

 

Edited by TallGuyJohninBKK

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use internet banking Les than 1 mil. baht no problem

 

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Posted (edited)
3 hours ago, Henricus said:

use internet banking Les than 1 mil. baht no problem

 

 

AFAIK, the Thai banks where I have accounts won't give me any online banking capability to do international funds transfers since I am retired and don't have a Thai work permit, regardless of the amount I want to send.

 

Here's what Bangkok Bank says specifically in their online banking re international funds transfers:

 

1625661379_2018-07-1619_26_17.jpg.bca40111771f4a7cedc25182ad11306f.jpg

 

And if you read their actual application form, the ONLY category that listed and available for foreigners to state as their reason for transferring funds is "salary repatriation" -- which would be kinda hard for a retired person to do.

 

Wanna try again???

 

Edited by TallGuyJohninBKK
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On 7/16/2018 at 9:17 AM, TallGuyJohninBKK said:

 

So go ahead and elaborate in the following example:

 

no work permit. Wire transferred 1M baht in retirement savings from home country to Thailand 10 years ago. The principal has been in Thai banks ever since earning interest, but moved from bank to bank with account changes. And now, I want to leave Thailand and take all my 1M baht plus accrued interest back home with me...  How?

 

You need to be able to show proof of when the money entered the country.

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3 minutes ago, Pdavies99 said:

You need to be able to show proof of when the money entered the country.

 

And then what?  No online international wire transfers without a work permit.

 

Maybe a paperwork initiated wire transfer... maybe....

 

 

 

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23 hours ago, TallGuyJohninBKK said:

 

And then what?  No online international wire transfers without a work permit.

 

Maybe a paperwork initiated wire transfer... maybe....

 

 

 

Sorry to put it this way...Nonsense!

 

Many many people transfer in and out of Thailand monies and most of them are retired and certainly do not have work permits.

 

I suggest you speak again to your banks.

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1 hour ago, Pdavies99 said:

Sorry to put it this way...Nonsense!

 

Many many people transfer in and out of Thailand monies and most of them are retired and certainly do not have work permits.

 

I suggest you speak again to your banks.

 

So if you don't have a work permit, why don't you simply post here how you do it exactly and with which bank/banks?

 

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