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BANGKOK 27 March 2019 03:09
Christopher Albert

Do not want to Retire in Thailand; how to get my deposit back from Bangkok Bank

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8 hours ago, RKASA said:

You can download and fill out the form for funds in excess 10k and declare it entering the US - best - because dividing it among others is not legal and so stated on standard customs form - it is not a problem declaring valid cash leaving Thailand (15k dollars or more) or entering the US (10k dollars or more) - it is a problem trying to structure the movement of cash or not declaring it.

A swift transfer from Bangkok Bank (your account)  to (your account) in the US is easy at any main branch and in that amount the fee would be not more then 1250Baht - funds will arrive in your account in as little as 5hour or up to 5 working days depends on trending rate - if moving for Thai banks i.e. dollar dropping it will take as little as 5 hours. 

The routing number is not your normal one like you use for ACH or direct deposit - find online your banks international wire transfer routing number and swift code.  Site that swift code and append your account number to that wire transfer routing number.  The details of the account in US must match the address and name of that account on the form.  If you have online banking with the us account check your profile and be sure you use the address they have for your account.

Just did such a transfer from a local BB branch for 12k - they said easier if a main branch but did it via a fax and telephone call with main branch while I waited took all of 15 minutes and they made copy of face page passport etc. If it starts to be hassle i.e. manager is in self inflicted ass covering mode which leads to no can do - just withdraw funds or find another branch - you can order the amount of dollars you need right from that branch and come back and pick it up if not in stock.  No need to run around town with wad of baht looking for exchange.  You can get 10k dollars to carry and transfer the rest or what ever

This type of transfer requires no online account at BB just pass book and ID and properly filled out form.

It is helpful if passbook shows the deposit from off shore and returning the funds to same account of origin,  at any rate just note in remarks on the form the truth - your returning your money from your account to your account.

 

Thank you for posting a first hand account of your experience. I also thank you for cautioning the person concerning structuring the movement of funds by dividing it up amongst others that may be traveling with the OP. The contrary "advice" from another poster, however well meaning, can lead to serious consequences; none of which would affect the wayward  advisor. 

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14 hours ago, NCC1701A said:

but i think you need to declare it coming back to the USA because more than $10k, if traveling with friend or family you can divide it up. 

 

So what? Go ahead and declare it. Fill out a form, show the same proof you showed Bangkok Bank that it came from the US if they ask, and explain your change in retirement plans. There's nothing ominous or heavy-handed about it.

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14 minutes ago, LawrenceN said:

So what?

:shock1: try not to start comments like this. it is rude. 

14 minutes ago, LawrenceN said:

There's nothing ominous or heavy-handed about it. 

who said anything about ominous or heavy-handed? i was just listing something for him to be prepared for. 

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OP,

Shouldn't be a problem.  Just be sure to bring along the account passbook/any other paperwork you have showing the funds were originally transferred into Thailand.  Also be sure you know the coding needing to transfer to your US bank.  I mean your US bank's SWIFT code, your account number, etc.  Get with your US bank to get this info.   Bangkok Bank will charge approx Bt1,200 to do the transfer and you will use the baht in your account to buy dollars at the bank's TT Selling Rate (i.e., how much baht they each dollar they will sell you). 

 

Or you could just hand carry the money out...be sure to declare it with outgoing and incoming customs.  Personally, I don't like carrying big sums of money....I would transfer it.

 

Or you could possibly use DeeMoney (a money transfer service in Bangkok) to transfer the funds depending on your US bank/credit union.

 

Where some one said maybe use Transferwise, you can not use Transferwise to send funds "out" of Thailand.  Great company for sending money "into" Thailand but they don't send money out of Thailand.

 

Also, if you currently have a debit card associated with the account you could use that card to pull the funds in small chunks.

 

 

 

   

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20 hours ago, xylophone said:

If he has online banking he can transfer his funds to a US account without coming to Thailand, can he not?

Not normally possible from USD (and other currency) accounts here. In fact I dont think that any of my banks here would let me do it from THB accounts either, though I admit I have never tried.

 

FCD accounts here usually require the physical presence of the account holder for withdrawals, though a friend of mine with one can make online internal transfers from his FCD account to his own THB account, and can then make online transfers from his THB account to my THB account with another bank.

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13 hours ago, Pib said:

Or you could possibly use DeeMoney (a money transfer service in Bangkok) to transfer the funds depending on your US bank/credit union.

For USD deposits, how would he get the money from his bank to DeeMoney?

 

If you withdraw from an FCD account in foreign cash many (all?) banks here make a handling charge of up to 1%. I dont know what system if any they have here for electronically transferring currency to another Thai bank but even if they have one I bet it isnt free, so that could be another cost.

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58 minutes ago, KittenKong said:

For USD deposits, how would he get the money from his bank to DeeMoney?

 

If you withdraw from an FCD account in foreign cash many (all?) banks here make a handling charge of up to 1%. I dont know what system if any they have here for electronically transferring currency to another Thai bank but even if they have one I bet it isnt free, so that could be another cost.

I know the OP said it put $20K in Bangkok Bank but he didn't specifically say it was a FCD account.    He could have meant he just transferred to $20K to his Bangkok Bank account which was a regular Thai baht account.  The OP has been silent mode since his post although he was on ThaiVisa today....maybe he will come out of silent mode and provide some more info.

 

He could hand carry the money to DeeMoney if desired to do the transfer.  Do it in a couple of smaller transfer if desired....the sending fee is only Bt150 per  transfer regardless of size.  And just like at a Thai bank where they use their TT "Selling" Rate to convert funds for transfer if necessary DeeMoney would use their selling rate but they call it the "Money Transfer Rate."  In either case of using either a Thai bank or DeeMoney there is around a 1% currency exchange markup which is basically an indirect fee.

 

Yeap, going to be costs involved in whatever electronic transfer method he uses to get the money back to the US.  He should have no problem in just having Bangkok Bank do a SWIFT transfer for around Bt1,200.  And if it is a FCD account, then that makes it even easier to transfer the funds out from the bank.

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On 1/21/2019 at 1:49 AM, NCC1701A said:

make sure you bring that funny passbook from 1965 they gave you.

:cheesy: 😄 :clap2:

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