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BANGKOK 20 October 2018 17:19
Pini

Maximum amount allowed in wire transfer to a Thai bank account.

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"No. Anything over $50,000 or something requires a note as to the reason"

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You just say you are buying a Condo I have done transfers like this 4-5 times in the last 15 years, they just seem to take your word on the Condo purchase.

I heard some time ago if you transfer more than 2 million Baht in one go the bank automatically reports it to the Money laundering Department.

If you fall under suspicion, make no mistake they'll have a close look at you and it would take them only a matter of hours maybe even minutes to find out if you have bought a condos with the money or not.

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"No. Anything over $50,000 or something requires a note as to the reason"

-------------------------------------------------------

You just say you are buying a Condo I have done transfers like this 4-5 times in the last 15 years, they just seem to take your word on the Condo purchase.

So what did you buy for $250,000 ? just curious.

Buriram cheesy.gif

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Hi All,

 

Digging up this topic from the past as I'm wondering if any of the rules have changed since 2014... I'm looking to wire transfer in a large amount between USD $50k - 60k from an offshore bank to my Thai bank account, this may occur more than once in the coming months. Seeking advice if there would be any potential problems or hold up by the Thai banks (most likely K-Bank, Bangkok Bank or SCB) and if there is any maximum?

 

Thank you all in advance as always!

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6 hours ago, sky3 said:

Hi All,

 

Digging up this topic from the past as I'm wondering if any of the rules have changed since 2014... I'm looking to wire transfer in a large amount between USD $50k - 60k from an offshore bank to my Thai bank account, this may occur more than once in the coming months. Seeking advice if there would be any potential problems or hold up by the Thai banks (most likely K-Bank, Bangkok Bank or SCB) and if there is any maximum?

 

Thank you all in advance as always!

Only hold up maybe the bank (in SCB case the main forex office) ringing you to find out the reason for the transfer (buy property/car/investment/living expenses etc.) which they have to record and to agree the exchange rate. 

Otherwise no minimum. 

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Posted (edited)

No maximum but if the incoming transfer is over US$ 50,000 (or equivalent in another currency) then the Thai bank are required to produce a Foreign Exchange Certificate stating the reason for the transfer.

 

My wife had to visit her branch to sign the document.

 

We had asked for the funds to be held on arrival so that we could negotiate the best rate, they emailed us when the transfer arrived, wife went to sign and whilst at the bank called the Bangkok office and managed to get a slightly better rate than published on the Krung Thai website.

 

KTB have been very good for the two big transfers we made for building works and our contacts at the KTB Bangkok office have even emailed us their new phone numbers when they moved location.

 

 

Edited by The Fat Controller

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On 03/05/2014 at 1:42 AM, Eli1 said:

So what did you buy for $250,000 ? just curious.

It's easy to burn a few thousand a month without really trying.... 

Cars

Bikes

Hotels 

Flights 

Rent

Alcohol

Medical

Restaurants 

Visas 

 

Wives/gfs kids etc will accelerate 

 

I've transferred in more than the OP  and they never seemed to care what it was used for

 

As mentioned, transferring it back out would be a much more painful process :) 

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5 hours ago, Ks45672 said:

It's easy to burn a few thousand a month without really trying.... 

Cars

Bikes

Hotels 

Flights 

Rent

Alcohol

Medical

Restaurants 

Visas 

 

Wives/gfs kids etc will accelerate 

 

I've transferred in more than the OP  and they never seemed to care what it was used for

 

As mentioned, transferring it back out would be a much more painful process :) 

Transfer out money using bitcoin :) until they start to ban that too

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13 hours ago, The Fat Controller said:

No maximum but if the incoming transfer is over US$ 50,000 (or equivalent in another currency) then the Thai bank are required to produce a Foreign Exchange Certificate stating the reason for the transfer.

 

My wife had to visit her branch to sign the document.

 

We had asked for the funds to be held on arrival so that we could negotiate the best rate, they emailed us when the transfer arrived, wife went to sign and whilst at the bank called the Bangkok office and managed to get a slightly better rate than published on the Krung Thai website.

 

KTB have been very good for the two big transfers we made for building works and our contacts at the KTB Bangkok office have even emailed us their new phone numbers when they moved location.

 

 

Good to know thanks! I was wondering would you know what the max transfer out to another thai bank is per day at Krungsri? K-bank, SCB, Bangkok Bank all told me there is a 500k limit each day transferring money to another thai bank.

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49 minutes ago, sky3 said:

Good to know thanks! I was wondering would you know what the max transfer out to another thai bank is per day at Krungsri? K-bank, SCB, Bangkok Bank all told me there is a 500k limit each day transferring money to another thai bank.

Kasikorn can transfer 3 million a day from online banking on portal 

I think you need to go into the branch in person  to make larger transfers 

For some reason the android app can only do 500k at a time but pc can do 3M 

 

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5 minutes ago, Ks45672 said:

Kasikorn can transfer 3 million a day from online banking on portal 

I think you need to go into the branch in person  to make larger transfers 

For some reason the android app can only do 500k at a time but pc can do 3M 

 

Hmm I called twice, both yesterday and again just now after reading your post but still the answer I got is that 500k is the max even with K-Cyber. They told me that under old policy customers could transfer up to 2 million per day but not anymore.

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Posted (edited)
On 4/13/2018 at 6:35 PM, The Fat Controller said:

managed to get a slightly better rate than published on the Krung Thai website

The rate on their site is tiered and only goes to $10,000 (last I checked).

 

The larger the amount, the better the rate, it’s not a negotiation.

 

They may ask you to confirm the rate, but your only alternative to accept their rate is to not sell the foreign currency at all.

Edited by lkn

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https://www.exch.ktb.co.th/exchangerate/#/counterRate

 

No "tiered" rates here on the new (or previous ) website !

 

You get the "TT Buying rate", same as ALL Thai banks show on their sites.

 

@lkn, you are talking rubbish.

 

Only time I have seen different rates for the same currency is for US $ notes of different denominations.

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4 hours ago, The Fat Controller said:

@lkn, you are talking rubbish.

Thinking that you can actually negotiate the exchange rate with your local branch is what’s rubbish!

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On 14/04/2018 at 8:25 AM, sky3 said:

Good to know thanks! I was wondering would you know what the max transfer out to another thai bank is per day at Krungsri? K-bank, SCB, Bangkok Bank all told me there is a 500k limit each day transferring money to another thai bank.

 

SCB it's 2 million to another bank, but that can be increased with Head Office approval. I have attached a screenshot of my mobile banking app.

 

Do check if there are any transfer fees. There may or may not be, and they may or may not be significant.

 

Don't forget you can withdraw the funds in cash at one bank for free, then walk next door to the next bank and deposit the cash for free. 

 

I have often done that for larger amounts of cash. It saves on transfer fees and there is no delay with the funds being credited to the account.

Screenshot_20180416-111517.jpg

  • Thanks 1

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