Jump to content
BANGKOK
FracturedRabbit

Limits transferring money out of Thailand

Recommended Posts

I have sold a property  five years ago and now need to transfer the proceeds out of Thailand. I went to my bank (Bangkok Bank) with my TT3 and was told I could not use it because I didn't also have a document issued by the land office at the point of sale. Five years on, I have no idea where that has gone so will take a trip to the land office to try and get a copy (that will be fun).

 

Meantime, I asked the bank how much I could transfer out of the country without a TT3 and they told me 800k baht. I asked how often I could do that and they became very vague and said if I did it too often I would have to provide some documentation, but would tell me no more than that. I suspect they did not know the rules and just wanted to get rid of me.

 

Does anyone know what the actual limits are in terms of amount and frequency? Thanks

Share this post


Link to post
Share on other sites

There are limits you could use Deemoney or Bangkok bank and send max allowed over a period of time.

You said they told you 800k baht so send that as often as you can.   

Share this post


Link to post
Share on other sites

That's my question, how often can I transfer 800k before the system says I can't...?

Share this post


Link to post
Share on other sites

Would it be an idea to take the whole lot cash with you when going home. You declare it both on the Thai side as well on the other side (supported by documentation)....

Share this post


Link to post
Share on other sites

from another item on Thai Visa:

"You may wonder how much can a person send. Well, I asked at the branch I signed-up at and later asked their Support Center and below is their answer….a partial quote.  Basically it’s $15,000 USD per transaction (the Bt475K mentioned below) when sending to the USA….I didn’t ask about other countries/currencies…I expect it may vary from country-to-country/currency-to-currency….notice the max amount per month depends on whether you are sending via online of visiting a branch:

 

Quote

 

For USA we have a transfer limit per transaction at 475,000THB and you can send up to 800,000THB per day.

Note : Via mobile application customer can send only 690,000THB per month, but via branches of DeeMoney no limit.

"

  • Like 1

Share this post


Link to post
Share on other sites

DeeMoney all the way.  Bangkok Bank had a long list of transfer requirements.  If I had to wait for them, it would have taken months to line up all the documentation. 

 

I wired funds out to Singapore and the US.  You'll have to go in once to get registered.

 

I suggest doing a small token amount, confirming it was rcvd before doing larger sums.  The charge is only THB 150/transfer, and from time to time they run fee free promotions.  

  • Like 1

Share this post


Link to post
Share on other sites

As I understand it, the Bank of Thailand limits the exported cash upper limit to ThB 800,000 per transaction. This for Personal amounts. The limits are higher for commercial (Company) transfers.

 

Looking at DEE MONEY, they have an upper limit per transaction and it is lower than the 800k limit so would have to carry out two separate transactions daily to utilise the BoT limit of 800k.

 

My (Thai) wife is about to face this. She expects to sell a property and wants to transfer the proceeds to a UK account. When you are looking at (say) 25 million Thai Baht that would require two transactions per day for over a month if using DEE MONEY to avoid the much higher bank transfer charges.

 

Or am I see it wrong?

Share this post


Link to post
Share on other sites

Kasikorn bank just recently opened online international transfer, also for foreigners on their Kplus app. It says daily max 50k usd and is free of charge for a few more weeks. Transfer must be done during the banking hours.

Share this post


Link to post
Share on other sites
2 hours ago, PETERTHEEATER said:

As I understand it, the Bank of Thailand limits the exported cash upper limit to ThB 800,000 per transaction. This for Personal amounts. The limits are higher for commercial (Company) transfers.

 

Looking at DEE MONEY, they have an upper limit per transaction and it is lower than the 800k limit so would have to carry out two separate transactions daily to utilise the BoT limit of 800k.

 

My (Thai) wife is about to face this. She expects to sell a property and wants to transfer the proceeds to a UK account. When you are looking at (say) 25 million Thai Baht that would require two transactions per day for over a month if using DEE MONEY to avoid the much higher bank transfer charges.

 

Or am I see it wrong?

You are correct.  For that level of amount, one way to speed it up, would be to open a separate account (you, separate from your spouse) at Dee Money and remit to the same account - although not sure if that would complicate any reporting requirements in either country.  You may want to ask them if there is a separate process for higher amounts - ie. to get a waiver.

Share this post


Link to post
Share on other sites
2 hours ago, zhangxifu said:

Kasikorn bank just recently opened online international transfer, also for foreigners on their Kplus app. It says daily max 50k usd and is free of charge for a few more weeks. Transfer must be done during the banking hours.

Good to know - some people were commenting that a similar feature on SCB said open to Thai nationals only. 

Share this post


Link to post
Share on other sites

The answer to your question is not "set in stone"

The big question the banks will ask if over 10,000 USD is the source of the funds.

I now a friend who sent  over 150,000 USD in one go to buy a property.

In this case he had worked here for 20 years & saved it. The bank accepted his tax returns 

Share this post


Link to post
Share on other sites

If you feel competent to use Bitcoin, you could change your Baht into Bitcoin using a Thai company.

I have used https://bx.in.th/

 

You do this the day before you fly to wherever you want the money to end up.

Fly to wherever and then cash out the Bitcoin at an exchange in that country and into your bank account.

 

Your exposure to risk is minimised by doing the transfer into BTC just before you travel and at the other end, getting out of BTC, ASAP.

 

If you want to go this route, I suggest a lot of online research. I know that it can be done and you can test the system with a small amount first (you don't have to be in the receiving country to transfer money there and into your account there).

 

Good luck   😀

Share this post


Link to post
Share on other sites

I have sold a property  five years ago and now need to transfer the proceeds out of Thailand. I went to my bank (Bangkok Bank) with my TT3 and was told I could not use it because I didn't also have a document issued by the land office at the point of sale. Five years on, I have no idea where that has gone so will take a trip to the land office to try and get a copy (that will be fun).

 

 

typical moving the goal posts. i bought a house 15 years ago expensive property at the time i wanted to make sure i could get my money back out of Thailand trouble free if necessary, i was told all i needed was to have a TT3 which i have but now it would seem you need some else that i was not told about at that time of bringing the money in. please do let us know how it goes at the land office. thanks.

Share this post


Link to post
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now

  • Recently Browsing   0 members

    No registered users viewing this page.

×
×
  • Create New...