Transfer of funds to Australia

[Jimmyteee]

Hi all

Selling our house in Bkk
Hi all can anyone suggest the best way to transfer the proceeds once we sell here to send money to Australia.

[chelsea]

Do an international transfer via your bank account in Thailand the same way as you would to transfer money from Australia to Thailand. From Aus you incur a one off $26.00 (last time I did one) charge with the CBA, bot sure about others.

[Nereus]

Hi all
Selling our house in Bkk
Hi all can anyone suggest the best way to transfer the proceeds once we sell here to send money to Australia.

To transfer funds out of Thailand via a Bank, you need to have a paper trail showing where you bought the funds into Thailand. There is a specific form that you should have applied for from the Thai receiving bank when you originally transferred the funds in.
Without that proof you are limited to, if I recall correctly, around 10K dollar equivalent.

Also be aware that if you try and buy cash dollars to take in your pocket, you have to declare them on arrival in Australia, where there is a limit of 10k dollars.

[StevePIraq]

"There is no limit on the amount of Australian and/or foreign cash that may be brought into or taken out of Australia. However, amounts of more than $A10,000, or equivalent in foreign currency, must be reported on arrival and departure. Failure to do so is an offence under the law. Currency means notes and coins of legal tender but does not include travellers' cheques or other monetary instruments. Forms for reporting currency transfers are available from customs officers at ports or airports." extract from Oz immigration site.

Also each person traveling can take the equivalent.

You can change up to baht up to a max of 10kUSD at any one time in a Thai bank with few problems.

Taking or transferring say 200kAUD or more out of Thailand will be just about impossible without the above mentioned paper trail which strangely enough the banks do not tell you about. Taking money into a country is never difficult.

[mat]

I tried to transfer money back to Holland some years ago and also i never received the paper when i brought the money in (i was not aware of it at that time). But the bank told me it could still be fixed but that could take some time and would cost some money. When i told it was to pay the college for my children, suddenly it was no problem anymore. No proof asked (they did not even check if i had children) and i could transfer 1,500,000 without a problem.

[Jimmyteee]

Hi All
Thanks for your replies,we have no proof of any money's coming in from outside Thailand as this house is owned by my Thai wife who lives with me and our two children in Australia, we will probably use this towards their education.Need every cent for that over here!
Does that make it any different to transfer the funds seeing they are of "Thai Origin"

Thanks again

[Nereus]

Hi All
Thanks for your replies,we have no proof of any money's coming in from outside Thailand as this house is owned by my Thai wife who lives with me and our two children in Australia, we will probably use this towards their education.Need every cent for that over here!
Does that make it any different to transfer the funds seeing they are of "Thai Origin"
Thanks again

That is an entirely different ball game. I have no idea, but as there are many Thais that have migrated overseas, I guess that there is a procedure for a Thai national. Your wife should ask a Thai bank about it.

[J.J.B.]

I'm not clear on the rules regarding limits on transfers out of the country but try www.currencyfair.com

[StevePIraq]

I have been to Kasikorn Bank today as I need to send funds to my son in Australia, no problem at all as long as I could show that I had brought the money in to Thailand, this was quite easy as I have Kasikorn statements showing money coming in each month. I was advised I can send out by bank transfer 2m Baht with no problem.
If your funds were generated in Thailand then you may have a problem, I should have asked about this but I only though of this later.
I was really surprised by this but it is good to know.

[aragon]

Does anyone have any idea what the situation is if the money didn't go through a Thai bank in your name on the way in?? We have paid for our villa by making direct transfers from offshore accounts, into the account of the developer in HH.

[StevePIraq]

Does anyone have any idea what the situation is if the money didn't go through a Thai bank in your name on the way in?? We have paid for our villa by making direct transfers from offshore accounts, into the account of the developer in HH.

I questioned this as I did the same when buying my place, it is no problem at all. Just show proof that you transferred to Thailand.

PM me if you need to know more