International banking transfers

[lockwood74]

Hi, Just want some clarification on transfering funds.

I have a Bank account in Hua Hin and want to transfer funds to my UK bank.

What information do I need to give the bank in Thailand ????,

IBAN , sort code, swift code, etc etc.......

Regards

John

[malcolminthemiddle]

Depending on the source and how much you want to transfer you will also need a Foreign Currency Exchange Certificate (previously Tor Tor 3) and/or a tax receipt to prove taxes have been paid on the funds you now want to remit.

This is why a paper trail is so important when you bring funds into Thailand.

I always bring in Cash to Thailand and then exchange at one of the chinese exchangers

[Super Joe]

I've done about 10 now and sort & Swift Codes are asked for (isn't Swift the same thing as IBAN code!?)
As MITM said for large amounts, Bank of Thailand info says over 20k USD, additional documentation needed.
I've never been asked for anything other that you fill in the reason for transfer on their remittance form. I've never done over 10k GBP though, so depends on your amount.

Good luck,

SJ

[hhfarang]

Depending on the source and how much you want to transfer you will also need a Foreign Currency Exchange Certificate (previously Tor Tor 3) and/or a tax receipt to prove taxes have been paid on the funds you now want to remit.

Correct, bringing large amounts of money into Thailand seems to be a lot easier than taking those same amounts out! I suspect that some people get stuck living here longer than they wish simply because of the difficulties they encounter when they try to get their money out again.

I heard about the required paper trail only after I had already brought in millions of baht. The receiving bank here didn't bother to warn me about the paperwork that would be needed to take the money back out.

I haven't tried, but from what others have told me, I suspect that should I sell my home and try to transfer those millions back to the U.S., I would run into all sorts of problems.

[CraigDunn]

For larger ammounts, it's important to get The Foreign Exchange Transaction Form (for inward-transfers made in currency other than THB) or Credit Advice form from your Thai bank when you bring money in 'cos these are needed when you want to repatriate your money. Normally, the bank will only transfer back to the same name and account that the money came from. If you don't have these forms, ask your bank to issue them.

Smaller ammounts can be transferred out as SJ says. European banks use IBAN (International Bank Account Number), BIC (Bank Identifier Code) and SWIFT (Society for Worldwide Interbank Financial Telecommunication) systems.

Google your bank and look for info on receiving international transfers - that'll tell you what your bank needs and you can tell your Thai bank clerk what's needed too.

Lockwood - I see your location is London. I'm sure the account holder has to be here in Thailand to transfer out.

cd.

[canthai]

What is the case when the money is the result of inheritance. Example: Our house is left to our children upon death of my Thai wife. Our children have Thai citizenship but live in Canada. Can they dispose of the house and have the funds wired to Canada? ( assuming any property or land transfer tax is paid)