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BANGKOK 21 April 2019 23:31
atyclb

Monthly 65K Transfer and lump sum transfer out?

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after incurring 40-60 usd bank international transfer fees each month what is acceptable timeframe to transfer out to non thai bank with better interest rate?

 

idea after 6 months on incoming then transfer out what i dont need.   own condo so rent is just small common fee and eat local food mainly.

 

thanks 

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if you aren't spending the money, let's assume half, would it make sense to keep the excess in a thai bank ?  in roughly two years, you'd have the 800,000thb required and could switch from the income method and avoid the intl transfer fees each month.  i know thai banks aren't paying high levels of interest but the interest they do pay seems better than paying $50usd/mo to transfer money in each month.

 

 

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Probably best to withdraw the money out of the "incoming foreign transfers" account incrementally - as though you were paying 2x+ the going rate for condo-rent, eating foreign-food like from your home country, going to gogo-bars nightly and taking out the gals (or paying a large volume of "pocket money" to keep a gf around), etc. 

 

These sums can be immediately deposited into a 2nd Thai account when withdrawn.  Then make your transfers-back to your passport-country investments out of the other account.

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