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  1. #1
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    Transfering money

    Probably not the place to post this but>

    Anyone transfered money into Thailand lately?
    Tried today and keep getting message that the amount is too much, not allowed by bank of Thailand, started with 250k, down to 100k, same message!!!
    Cheers

  2. #2
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    Quote Originally Posted by Airportwo
    250k, down to 100k
    Dollars, Pounds or Euros?

  3. #3
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    I'll check out HSBC tomorrow.

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    Quote Originally Posted by Airportwo View Post
    Probably not the place to post this but>

    Anyone transfered money into Thailand lately?
    Tried today and keep getting message that the amount is too much, not allowed by bank of Thailand, started with 250k, down to 100k, same message!!!
    Cheers

    yeah not too much trouble, but if you talking dollars, no not that much,

    (and MtD would truly loose all faith in my intelligence!)

  5. #5
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    anything under $20k should come in under the radar of the new regs - or so I understand.

  6. #6
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    Easiest way is just to click on our donate button and send it thru that way, we only charge 8 percent on hard currencies and 10 percent on Baht

  7. #7
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    Quote Originally Posted by dirtydog View Post
    Easiest way is just to click on our donate button and send it thru that way, we only charge 8 percent on hard currencies and 10 percent on Baht

    just tried, didnt seem to work.....

    anything under $20k should come in under the radar of the new regs - or so I understand.

    oh that's why! mai pen rai, i'll buy u a beer instead next time i see you!

  8. #8
    RDN
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    Blimey! Two simultaneous threads about transferring money. See this one:

    http://teakdoor.com/financial-news-i...tml#post237777

    I just transferred more than the "limit" using S.W.I.F.T. - no problems.

  9. #9
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    Quote Originally Posted by RDN View Post
    Blimey! Two simultaneous threads about transferring money. See this one:

    http://teakdoor.com/financial-news-i...tml#post237777

    I just transferred more than the "limit" using S.W.I.F.T. - no problems.

    more than 2....wheneva i wanna wind up MtD - i post again on the getting married thread! hehe

    and i started a sending money to thai g/f's thread on the teachers channel - hit 100 replies in 3 days !

  10. #10
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    Quote Originally Posted by stroller
    Dollars, Pounds or Euros?
    Thai Baht!

    It seems HSBC no longer have Thai Baht on their list of currencys on the drop down menu, when trying to transfer it converts to GBP, good old hsbc, so customer ORIENTED!!!
    Last edited by Airportwo; 09-01-2007 at 06:31 AM.

  11. #11
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    Double posting, sorry yes, but this one was in Capt's lounge, bit strange for financial news, so reason of opening thread with infos from BOT and BKK. B over there...

    Aniway, William said it bestest shortest correctest... under 20 K Usd, is ok... above, read the message...



    When is that party RDN ?

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    RDN
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    Quote Originally Posted by forreachingme View Post
    Double posting, sorry yes, but this one was in Capt's lounge, bit strange for financial news, so reason of opening thread with infos from BOT and BKK. B over there...

    Aniway, William said it bestest shortest correctest... under 20 K Usd, is ok... above, read the message...



    When is that party RDN ?
    Anytime, (at your place)

  13. #13
    Member king of uranus's Avatar
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    Under $20K no bar, no witholding (I hear).
    Washington Mutual in the states has no ATM fees to Thailand with their 'free checking' accounts.

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    The problem is not when transferring the money to your bank account, but withdrawing it. The way Bangkok Bank explained it to Ms. AC, she can transfer over US$20K, but if she tries to withdraw it they will withhold the 30%, unless the withdrawal is for purposes exempt from the withholding. Buying property is one of the exemptions.

  15. #15
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    ^yes, but it causes another problem - proof of funds to avoid the "nominee" charge. How can Ms. AC prove the funds offshore belonged to her - and as a Thai citizen did she have the required permission to have offshore funds (depending on the sum involved).

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    ^
    No idea. Any suggestions?

  17. #17
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    ^ no. but if it is a land purchase, you won't be able to transfer it to your account, as you would not be able to rely on the exemption. OTH, transfer the money to Ms. AC's account, and now you have a problem with registering the land as to where the money originated from.

  18. #18
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    Quote Originally Posted by William
    OTH, transfer the money to Ms. AC's account, and now you have a problem with registering the land as to where the money originated from.
    Last year she bought some land for about US$10K and there was never any question about the origin of the money when registering the purchase.

    She recently asked them about purchasing a house and they told her that on a residence they never ask about the source of the funds. She's a pretty savvy woman and seems confident, based on her research locally, that there won't be any worry about there being a nominee when it comes to the purchase of any ordinary home.

    We'll see.

  19. #19
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    ^I truly hope you are right

  20. #20
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    Quote Originally Posted by William View Post
    ^I truly hope you are right

    I think he is, we have in the past two years purchased both a house (with land) and a condo, and never was there a question as to where the money came from.

  21. #21
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    ^ you purchased land since Oct 2006 (which is when I think the notification re use of "nominees" for land purchases was ciruclated to all land departments around Thailand)?

    As I said, I truly hope he is right; but the Land Department are on notice vis-a-vis this issue (i.e. it's on the scope)

  22. #22
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    ^It was well after October 2006 when Ms. AC made her inquiry with the land registration office....

    I will have her ask again.

  23. #23
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    I eventually transfered money, but it was in USD, not Thai Baht as it normally is? Guess it decreses the banks chance of ................???

  24. #24
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    Quote Originally Posted by William
    As I said, I truly hope he is right; but the Land Department are on notice vis-a-vis this issue (i.e. it's on the scope)
    I did a bunch of research on this trying to find what's what. What I did find was that the government is cracking down on corporate nominees. I found nothing on purchases of homes by foreigners using individual Thai nationals as nominees.

    Can anyone supply a reference, in Thai or English, which shows that the land registration offices will actually question or investigate land registrants to determine whether or not they are acting as nominees for foreigners?

    As I said, Ms. AC inquired of the local office here in Korat and they seemed completely unconcerned as to the source of funds for the purchase of a home.

    See this law firm's page, for example, which clearly states that
    There are various different ways in which you can structure your affairs so that you can possess land, and still comply with existing Thai laws as follows:

    A foreigner can use a Thai Nominee to purchase the house/land....
    SMC International Law Office
    Last edited by Anonymous Coward; 15-01-2007 at 07:14 PM.

  25. #25
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    AC:

    As I understand it, you may be OK. The term "nominee", however, is not restricted to shareholders of a company and under the directive sent to Land Offices "proof of funds" is suppose to occur in any circumstances where "doubts" may be raised.

    I would be the first to agree, however, that the likelihood of this occuring to an individual, as opposed to a company, is far less. After all, it's just not in their best interests

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