Transfer Baht OUT of Thailand to US

[CableTV]

What are some of the best ways to transfer Baht OUT of Thailand to the US for Investment purposes?  I have not used Bitcoin or other Cryptocurrencies but would consider that option.  Would prefer to use traditional banking.   What issues will I encounter both on the Thai side and the US side with either traditional or Crypto?

[CharlieH]

This is really dependent on the amount you want to move ?

[Henryford]

DeeMoney seems to be the option that many people use. They claim low fees and reasonable rates.

[YT3k72Em]

Do you have a work permit? if so, just use your online banking.

[kevin612]

Cash is difficult. 
currency already in the bank, wire is the best option since the Thai currency is so darn strong.

[topt]

8 hours ago, Henryford said:

DeeMoney seems to be the option that many people use. They claim low fees and reasonable rates.

Have not been able to send to  US, UK and a few other places for some months now. Dee money keep saying they are working at bringing these countries back online but no date given so unfortunately I would write them off for now.

[SteveK]

If you go into your bank and try and do an electronic transfer, they are going to ask you for an "invoice". Sheryl knows about it.

[CableTV]

My Thai wife's sister wants to invest about $60k in real estate here in Florida.  

We use Transferwise to send money to her family from the US but Transferwise does not seem to have a mechanism to transfer Baht out of Thailand.

She does have a Bangkok bank account and have thought about depositing it there and then taking it out of the NYC Bangkok Bank branch office.

Thanks in advance for your comments and suggestions.

[topt]

11 hours ago, CableTV said:

She does have a Bangkok bank account and have thought about depositing it there and then taking it out of the NYC Bangkok Bank branch office.

The branch there is not a retail branch - only commercial. Curious therefore if that is even possible?

[KhAOSONG]

Tried going thru remittance house if the amount is substantial.

[EricTh]

Yes, Thai baht is very strong now. Good time to remit fund abroad.

[cyril sneer]

thai paypal account to uk paypal account

[billaaa777]

Really, I have answered this so many times over the years, a nobody ever bothers to say thank you. Here it goes again.

 

You can send a bank wire to any country in the world for up to 800,000 Baht as long as you know what to say. And what's more, you can do it every day of the month until you get all the funds you want to the destination you desire.

 

Just tell the bank you want to wire 800,000 Baht out and give them your bank info. They are going to ask what is the reason for the transfer. Your answer is "Family Support". That's all you need to say. And then just sit there and be patient and they talk it out between themselves a little while and in somewhere between 15 minutes to a half hour your funds will be on their way and should be in your bank account in another country in about 24 hours.

 

And if 800,000 is not enough, just come back the next day and do the same thing.

 

 

[topt]

53 minutes ago, billaaa777 said:

 

You can send a bank wire to any country in the world for up to 800,000 Baht

Do you know, or how did you come to the understanding, why you believe this is the maximum?

[NiwPix]

56 minutes ago, billaaa777 said:

Really, I have answered this so many times over the years, a nobody ever bothers to say thank you. Here it goes again.

 

You can send a bank wire to any country in the world for up to 800,000 Baht as long as you know what to say. And what's more, you can do it every day of the month until you get all the funds you want to the destination you desire.

 

Just tell the bank you want to wire 800,000 Baht out and give them your bank info. They are going to ask what is the reason for the transfer. Your answer is "Family Support". That's all you need to say. And then just sit there and be patient and they talk it out between themselves a little while and in somewhere between 15 minutes to a half hour your funds will be on their way and should be in your bank account in another country in about 24 hours.

 

And if 800,000 is not enough, just come back the next day and do the same thing.

 

 

Eventhough I do not need to transfer money out, I may need to some day. Thank you for the information :).

[CableTV]

2 hours ago, billaaa777 said:

Really, I have answered this so many times over the years, a nobody ever bothers to say thank you. Here it goes again.

 

You can send a bank wire to any country in the world for up to 800,000 Baht as long as you know what to say. And what's more, you can do it every day of the month until you get all the funds you want to the destination you desire.

 

Just tell the bank you want to wire 800,000 Baht out and give them your bank info. They are going to ask what is the reason for the transfer. Your answer is "Family Support". That's all you need to say. And then just sit there and be patient and they talk it out between themselves a little while and in somewhere between 15 minutes to a half hour your funds will be on their way and should be in your bank account in another country in about 24 hours.

 

And if 800,000 is not enough, just come back the next day and do the same thing.

 

 

Thanks for sharing your knowledge on how to handle the "Reason" and the daily amount.   

[Doge]

I had cash lying about due to strength of thb. Opening a foreign currency acct was daylight robbery. I just walked the cash out. Got a cashier's check and a few MOs in US and sent to my bank.

[JimmyJ]

What happens when THB is wired to a US bank?

 

How is the exchange rate?

 

Any banks better than others for this - exchange rate; ease of transfer; not getting ripped off with fees from "intermediary banks" as well as the receiving bank fees; etc.?
 

[TallGuyJohninBKK]

22 hours ago, CableTV said:

 

She does have a Bangkok bank account and have thought about depositing it there and then taking it out of the NYC Bangkok Bank branch office.

 

 

No, AFAIK, it's not possible for anyone to withdraw funds from BKKB NY. As noted above, they're not a retail banking operation there. Just a middleman for U.S. to Thailand transactions for BKKB.

[TallGuyJohninBKK]

On 10/18/2019 at 6:39 PM, topt said:

Have not been able to send to  US, UK and a few other places for some months now. Dee money keep saying they are working at bringing these countries back online but no date given so unfortunately I would write them off for now.

 

Looks like that remains the case now. The only "western" country I see on their current recipients list is Australia... The U.S. and U.K. remain MIA.

 

[TallGuyJohninBKK]

I believe, as a farang with a regular savings account at Krungsri/Ayudhya, you can use their online banking to send funds internationally to a recipient bank account of yours in the U.S. without too much difficulty. Can do it entirely online once your online banking with them is established, and no work permit is required. But you will end up paying a typical international transaction fee one way or the other.

 

Quote

But on my Krungsri ibanking I have international transfer capability...it was just there....didn't have to apply for it separately....and I have used in once as a test to send money to my US bank as an actual test.  The Krungsri transfer was more costly than DeeMoney with a Krungsri Bt350 basic fee and another optional Bt800 fee to absorb any intermediary bank fees that might occur.  I intentionally did not opt for that Bt800 fee add-on fee but did incur an intermediary bank fee somewhere along the way of exactly $20 (approx Bt650).  So, I saved Bt150 in that transfer...and got my answer of would there be an intermediary bank fee.   When the fee dust settled that Krungsri transfer cost me Bt1000 which is a tad more than the DeeMoney Bt150 fee.

 

 

 

[sfokevin]

I am following this thread closely as I most likely will need to expatriate the 800k I have to maintain my retirement visa... 

 

I would assume I could just ask Bangkok bank to return the funds as I have records of the money coming from the US thru their N.Y. Branch via transfer...

[billaaa777]

12 hours ago, NiwPix said:

Eventhough I do not need to transfer money out, I may need to some day. Thank you for the information :).

I have done it many times, and that's all the banks will let you using the reason "Family Support". Like I said, if 800,000 is not enough, you can go back the next day and do it all over again.

[billaaa777]

13 hours ago, NiwPix said:

Eventhough I do not need to transfer money out, I may need to some day. Thank you for the information :).

You are quite welcome. And thank you for saying thank you.

[billaaa777]

10 hours ago, JimmyJ said:

Any banks better than others for this - exchange rate; ease of transfer; not getting ripped off with fees from "intermediary banks" as well as the receiving bank fees; etc.?

All the banks are going to take their little cut of the exchange rate off the quoted rate, it's not that bad. They are also going to charge you a wire fee. As for the receiving bank, each one is different and you need to contact your bank and ask them their cost. There are no intermediary banks that I am aware of. You are doing a bank to bank wire, and not using a firm like Transferwise that does use intermediary banks.

[billaaa777]

9 hours ago, sfokevin said:

I am following this thread closely as I most likely will need to expatriate the 800k I have to maintain my retirement visa... 

 

I would assume I could just ask Bangkok bank to return the funds as I have records of the money coming from the US thru their N.Y. Branch via transfer...

Any funds that have been wired into the country can be wired out. You just need to show the bank your bank book, and once again, be patient and let them talk it over between themselves and in 15 minutes to a half hour your funds will be on there way.

[Apiwan2]

If you have a Thai paypal account

Can you move money in and out of the country the same as PayPal UK moving to and from banks .

If so are the fees reasonable ?

thai paypal account to uk paypal account

Sent from my SM-G965F using Thailand Forum - Thaivisa mobile app

[kwonitoy]

On 10/19/2019 at 5:15 PM, billaaa777 said:

Really, I have answered this so many times over the years, a nobody ever bothers to say thank you. Here it goes again.

 

You can send a bank wire to any country in the world for up to 800,000 Baht as long as you know what to say. And what's more, you can do it every day of the month until you get all the funds you want to the destination you desire.

 

Just tell the bank you want to wire 800,000 Baht out and give them your bank info. They are going to ask what is the reason for the transfer. Your answer is "Family Support". That's all you need to say. And then just sit there and be patient and they talk it out between themselves a little while and in somewhere between 15 minutes to a half hour your funds will be on their way and should be in your bank account in another country in about 24 hours.

 

And if 800,000 is not enough, just come back the next day and do the same thing.

 

 

Just did some transfers last month with SCB in Udon Thani to offshore bank

The daily allowed amount is 50,000 USD.

I sent 1.3 million baht in one go, transfer done at noon her in Thailand, deposited in my offshore account 4 hours later

Correct on the "family support". They just need a blank spot filled in on the form.

My reason for having the extra money, sold some personal possessions, no paperwork or receipts needed

Have your IBAN number and SWIFT information.

The only pushback was they were worried about me paying bank fees, I said no problem bank has to make money also

1200 baht extra for not being in my home branch. Plus the transfer fee, bank charge 800 baht and commission of 550 baht.

[Number 6]

14 minutes ago, kwonitoy said:

1200 baht extra for not being in my home branch. Plus the transfer fee, bank charge 800 baht and commission of 550 baht.

So, do it at originating branch. Have SWIFT and obviously bank account number. Wire fee 800. Commission?? Exchange to other currency? That's a rip-off.

 

Bangkok Bank fees anyone?

 

Anyone done this with SCB Easy? Will the transaction just get halted over 50k. Do in person...? Thanks.

 

Bringing Thai tax returns help?

[Number 6]

47 minutes ago, Number 6 said:

 

I just called SCB. It can be done thru SCB Easy but I'll need to bring in pay stub and WP. The amount allowed to go out was quite large on my salary...850k. Charges: 550 for transaction. 800 for receipt. If your recving bank will charge less than 800b than you might let this go. I forgot how to ask it's transferred. I'm sure SWIFT prolly.

 

You can walk into the bank and do over counter avoiding some of the drama of set up.