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BANGKOK 19 May 2019 21:20
magicroundabout

Any limits on sending money to Thailand

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Hi all, 

Hope you can help. Is there any limits on how much money you can send from the UK to Thailand via a swift payment? A friend is due to receive an inheritance in the next couple of weeks (approx 100k gbp). 

I'm just trying to find out if it would cause any problems. Her bank is the Bangkok bank. 

 

Many thanks 

 

 

 

 

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Would hold on and wait for a stronger pound if it were me + interest rate UK would be much better too.

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Yes, if it was me I would as well Sorry, should have said my friend is a thai national with no links to the UK. 

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Your question not answered yet.....but I don't think she will have a problem with a limit?

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No problems with a £100 transfer from the UK to Thailand. I personally transfer considerably more than that from my UK to Thai bank accounts each month in order to meet the minimum 65,000 THB rule for my next retirement extension!

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I would check out if she is liable for income tax prior to making the transfer.
Cash can bring in only 20.000 $, if I remember correctly, without declaration.
you could check with bank what their experience is, or with a tax advisor.

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Posted (edited)

With Nationwide, there is NO limit on the amount that can be transferred by SWIFT.

 

Other banks may have a limit, just ask.

Edited by The Fat Controller

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Posted (edited)

There is no limit. The UK doesn't have exchange controls.

 

You will need to state the source of funds. Some UK banks may require to speak to the sending account holder before transferring this amount as a standard fraud prevention practice.

 

Edited by Briggsy

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Sorry, I cannot give info about limit on transfer or tax implications in Thailand, but it may be to her benefit to open a Sterling account in her Thai Bank. 

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3 hours ago, OJAS said:

No problems with a £100 transfer from the UK to Thailand

He mentioned 100,000 GBP, not 100.

 

11 hours ago, magicroundabout said:

A friend is due to receive an inheritance in the next couple of weeks (approx 100k gbp). 

 

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If using Transferwise to send their limit is 2MM bt (just under 50kGBP, but easy to do it in 3 lots.  Plus you'll get a much better rate than sending via SWIFT.. Potentially around 100,000k THB will arrive due to a much better exchange rate...

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3 hours ago, KKr said:

I would check out if she is liable for income tax prior to making the transfer.
Cash can bring in only 20.000 $, if I remember correctly, without declaration.
you could check with bank what their experience is, or with a tax advisor.

Income tax where?  There would be no income tax in the UK as its an inheritance and in any case, the beneficiary is not resident in the UK.

 

I have no idea about Thai income tax but I would be very surprised if they taxed an inheritance.

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Thanks for the comments there doesn't look like any limits. The money is being from a uk solicitor so shouldn't cause any problems from the UK bank albeit I get her to check with them. 

Interesting point about the tax Im thinking as it's an inheritance it should be tax free. 

Am I right in thinking the transfer should be done in pounds not baht? 

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