Transfer money to UK.
- Thread starter mahdam
- Start date
R
robert1200
Guest
you're not money laundering are you?
mahdam
Surin Founding Father
No mate, all legit. I don't have the balls to get into that sort of thing.
mahdam
Surin Founding Father
A little over 800K.
CO-CO
Rather wrinkly & occasionally cantankerous member
Last year I sent 950k via Kasikorn Bank.
I expected to have to jump through loads of hoops but the lady at the bank just said "It is your money, you can transfer whenever you wish".
I am not sure that is the case though, I have heard of supporting paperwork being required to substantiate the source of the funds and a valid reason for the transfer.
I suggest you go and talk to the bank and perhaps have a range of answers ready. It may also come down to the person you actually speak to.
One other option to consider (particularly if you do hit a brick wall with the bank) is selling the Baht to other expats. You probably won't get many takers at the moment but we all need Baht to varying degrees. Example - Say I need 100,000 Baht, K Bank rate is 43 and you offer, say, 44. You transfer 100,000 Baht into my Thai bank and I transfer GBP 2,273 into your UK account.
mahdam
Surin Founding Father
The funds are currently in an account in my wifes name. So in in effect it will be her making the transfer.
CO-CO
Rather wrinkly & occasionally cantankerous member
What reason would she have for transferring that sort of amount to the UK ?
That is the sort of question she could expect from the bank - but, yes, I imagine the 'rules' will be different for a Thai.
Yorky
Fullritis Member
Yes, sorry. I said in my post that the limit was Bht 1,000,000.00 but what I should have said was that that was the limit without "jumping through hoops".
S
Surin
Guest
I was refused by several banks to transfer funds out of Thailand. They wanted reasons for the transfer and also stated it would most likely be held in a holding bank for several months and then maybe. Just maybe sent back to my Thai account. I withdrew cash and changed to $AUD in Bkk at VISU or whatever it's called and got through customs etc and declared it on arrival in Australia.. Did it 4 times. Beats going through the usual Thai crap.
Just don't get caught taking more than 50k baht in Thai banknotes unless exiting via Cambodia or Laos... 500k then is OK???
Just don't get caught taking more than 50k baht in Thai banknotes unless exiting via Cambodia or Laos... 500k then is OK???
S
Surin
Guest
VISU gives XE rates..I couldn't believe my luck.
Prakhonchai Nick
You chose a custom title
The current spread between buying baht (inward transfer) and selling baht (outward transfer) is about 1 baht at Kasikorn, Therefore if you can find a private buyer(s), at around 1 baht above the incoming TT rate, you save all the bank additional charges, hoops, and probably save money too. Makes sense.
alanthebuilder
Administrator
mahdam
Surin Founding Father
An update on my OP. We wnt
We were assigned a senior member of staff to deal with it. We wanted to send 823,000 Baht, and as this was more than double the
$10,000 or equivalent per transfer allowed, she had to seek approval from a higher authority. With the guidance of them on the phone
she was able to complete the transaction, but it took exactly one hour.
I had a mail from the recipient in the UK on Wed to say the money had arrived in his account 24 hrs later.
I was very impressed by the service we received at this Bank, and in particular by the professional, and courteous young Lady who dealt with us.
On Tues the Wife and I went into the Krung Thai Bank branch in Robinsons Buriram to make a transfer of Thai Baht to the UK,
We were assigned a senior member of staff to deal with it. We wanted to send 823,000 Baht, and as this was more than double the
$10,000 or equivalent per transfer allowed, she had to seek approval from a higher authority. With the guidance of them on the phone
she was able to complete the transaction, but it took exactly one hour.
I had a mail from the recipient in the UK on Wed to say the money had arrived in his account 24 hrs later.
I was very impressed by the service we received at this Bank, and in particular by the professional, and courteous young Lady who dealt with us.
Prakhonchai Nick
You chose a custom title
Would be interested to know whether the TT sell baht rate applicable at the time of transfer was used.....likely to have been circa 44baht/£
mahdam
Surin Founding Father
Not so much hoops realy. The person on the other end of the phone wanted to know why we were sending that much money. We told them we were buying a car. Then they asked to see the papers for the car, imposible I said they are in England. Told to take a seat while she thrashed this one out with the other end.
Obviously she sorted it, and we continued with the form. Next problem came with the SORT code and IBAN code. Not enough didgets said the person on the phone. Yes there are I said. "Please take a seat while I sort this out" Eventualy they agreed that the code's I had given them were OK. Transfer complete.
We took the blue house book, Wife's ID card, bank book, and kept calm. Job done.
mahdam
Surin Founding Father
4
43.81 Nick.