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Sorry for this question if it has already been asked-answered on money transfer into Thailand.


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Very tiny bit dangerous but i think simple and quicker. I was thinking when i move to Thailand to bring a certified bank check from my reputable US bank in my wallet to open my Thai bank account and purchase my condo and the 800k baht threshold. Is this legal? Has anyone done it? Etc.?

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if you have a Thai bank accout, your bank should be able to use swift codes to transfer money but I have only done this once.

You have to declare cash on your person of $10,000 or more as I recall.

There are some very experienced expats that can clarify this stuff.

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It is best to have the money transferred into your Thai bank account with the reason for the transfer being for the purchase of property. When the transfer arrives you need to get some paperwork from the receiving bank (Tor Tor Tor ?) that states the transfer is for purchase of property, this way when the property is sold you can transfer the funds out of Thailand. There are all sorts of issues about transferring money out of Thailand without the paperwork, the government wants the money to stay in the country.

You may also want to send the money in 2 transfers with the second one being labelled as being for personal use, food and so om. there are categories in the transfer information, that way the money in your account is pegged as being eligible for your retirement funds. This will keep immigration happy.

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I didn't even think to try and bring a certified cheque. I did transfers to my Thai account once I had it established. I used SWIFT transfers, 3 or 4 of them to stay below my limit and to finance a house purchase. The transfer confirmation mentioned above I believe is Tor Tor Sam, used to be needed to send money back out if you sold the condo. Although some banks made it easier than others. More recently, Thailand has liberalized its currency controls and there is Dee money to send money out. Living here retired, it is all one way traffic though! 

Think about the commitment of buying  a condo for yourself. They don't sell as easy as they buy, there is an oversupply. Renting may suit you better. As to the 800k in the bank to get the retirement extension, ways around that too. I am a bit negative on people moving here now, the climate is definitely moving the wrong way. 

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I think that you will find a certified cheque a problem in the time taken to clear, even if they accept them at all. Although not  directly relevant, I enquired about using one to bring money from UK to Australia many years ago and it was impractical. US domestic practice in the acceptance and handling of cheques is uncommon outside the US.

Edited by Bob Belzy
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Thank you to all of you gentlemen for your time-knowledge-opinion on my question. And Jacko, yes i have noticed lately there is an over supply of condos in the Pattaya-Jomtien area; but that just HELPS me as a buyer and my leverage even more as a cash buyer. So i think i should get a better than fair price with the current atmosphere on condo prices. Now as we all kmow the BIGGEST issue currently is the currency debacle going on at this time. 

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  • 1 year later...

I use TransferWise, both to move money, exchange money and hold money.

My U.K. state Pension is paid into the TransferWise account in GBP. When I "like" the exchange rate, I change it within TransferWise, from GBP > THB. Because I work in Thailand ( I have a Work Permit ) I am subject to inspection / audit by the Thai authorities. If I transfer funds remitted "this year" into Thailand, this same year, they are subject to tax. However, if I transfer funds into Thailand in, say, January, that were remitted the previous year, those funds are tax exempt - so that is what I strive to do. Should I have a financial crisis, I am able to access ( transfer ) THB from TransferWise direct to either Kasikorn or Bangkok bank accounts as a "bail out" - but Thai tax may then be due. Such a transfer typically takes just a minute or two to arrive, although I have read reports of it taking longer if over a week-end or Bank holiday.

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1 hour ago, Proffesor said:

. Such a transfer typically takes just a minute or two to arrive, although I have read reports of it taking longer if over a week-end or Bank holiday.

I presume this is your question? Personally I just avoid weekends for this reason....Mine seem to take at least 24 hours these days, from the time the money is pulled from my UK account, and I transfer into Bangkok Bank. Thai holidays will extend that but you would be unfortunate if it took a week. Thai banks would not receive over the weekend. 

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1 hour ago, jacko said:

I presume this is your question? Personally I just avoid weekends for this reason....Mine seem to take at least 24 hours these days, from the time the money is pulled from my UK account, and I transfer into Bangkok Bank. Thai holidays will extend that but you would be unfortunate if it took a week. Thai banks would not receive over the weekend. 

I was referring to the time it takes for funds already lodged in my TransferWise account ( in THB ) to transfer to my Thai Bank Account.

Yes, instigating a Transfer of GBP in a UK account, direct to a Thai Bank Account ( arriving as THB ) can take longer.

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1 hour ago, Proffesor said:

I was referring to the time it takes for funds already lodged in my TransferWise account ( in THB ) to transfer to my Thai Bank Account.

Yes, instigating a Transfer of GBP in a UK account, direct to a Thai Bank Account ( arriving as THB ) can take longer.

I have never held a bank account with TW, ie lodged funds. Interesting concept...can I transfer Sterling into Thai baht for them to hold and pull it back into the UK as Sterling later at the current rate.... seems a way of currency hedging?

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17 hours ago, jacko said:

I have never held a bank account with TW, ie lodged funds. Interesting concept...can I transfer Sterling into Thai baht for them to hold and pull it back into the UK as Sterling later at the current rate.... seems a way of currency hedging?

TransferWise have the option of a "Borderless Account", which is what I have. It allows you to transfer funds in, to hold on Deposit. You can then opt to transfer those funds into another denomination. I believe Funds can be transferred out in any denomination, but I've always sent THB to my Thai Bank Account.

The "cost" of transfers, both "in" and "out" are clearly stated, and are low compared with other International Currency Exchanges.

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19 hours ago, Proffesor said:

The "cost" of transfers, both "in" and "out" are clearly stated, and are low compared with other International Currency Exchanges

Except my bank which offers free transfers.... TW is preferred simply because they offer far better exchange  rates. If anything their transfer costs are high for the type I do.

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2 hours ago, jacko said:

Except my bank which offers free transfers.... TW is preferred simply because they offer far better exchange  rates. If anything their transfer costs are high for the type I do.

Yep. Some time last year I compared transferring different amounts of money using my TSB Account (Set transfer fee but worse exchange rate) versus using TW... (Variable transfer fee but better exchange rate)

IIRC the crossover was approximately 1,000 quid. Below 1,000 TW was better. Above 1,000 TSB was better ..

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From another lifetime, a certified check would probably be accepted for deposit.  It likely would not be credited until the check cleared.  That might take a while.

Don't forget the requirement to declare it to treasury if over  $10K.

Several years ago, brought about $4K in travelers checks to open a bank account.  I'm risk adverse as to carrying cash.  Had to have the account before making SWIFT transfers.

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