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How can I transfer 800K THB to apply for retirement in Thailand without hitting money transfer limits?

Thai Visa Rules Retirement Visa Bank Transfers Money Laundering Laws Expat Financial Transfers Bangkok Bank Wise Schwab International Transfers

Dec 7, 2021

3 years ago

ORIGINAL POSTER

I have been reading about not being able to send more than 50KTHB to Bangkok bank due to money laundering laws... HOW does one get 800KTHB into an account to apply for retirement. Will a wire transfer from a fidelity or schwab account have the same restriction? I am currently OUTSIDE Thailand.

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TLDR : Answer Summary

Many expats face challenges with transferring money into Thailand for visa requirements due to anti-money laundering regulations. While there seems to be confusion about limits, it has been suggested that transferring amounts over 50K THB can require bank reporting, and not all banks comply with this requirement. Several users mentioned successful transfers above this amount to Bangkok Bank without issues, especially through services like Wise or using Schwab to treat the transaction as a domestic wire. It appears that Bangkok Bank is currently compliant with the new laws, easing the transfer process.

NON-O RETIREMENT VISA RESOURCES / SERVICES

Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
Explore recent discussions by using the Non-O Retirement Visa tag in the search box at the top of the page.
Join the Thai Visa Advice Facebook Group to ask your questions, and get advice from others.

Chan *************

just use bank 2 bank transfer. if you use 3rd party transfer, the name shown in the list is a local company name, which will raise suspicious from the bank.

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Brian *******

Fake news. its supposedly Dollars not Baht.

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Sid *******

I think you are right. I read on another post awhile back it was 50k dollars.

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Sid *******

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Sameal ********

I transferred 100k baht just two days ago for my upcoming trip . I usedSCB

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Brett *********

Bangkok bank is so far the only bank that is compliant in the new AML laws in Thailand. You can transfer more than 50,000 baht to Bangkok bank as they can manage and report according to the rules.

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Dan **********

I think that 50K limit was for Dee Money.

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Peter *********

Use wise no problems

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Jp *******

I use Schwab wire transfer with no restriction. And u can treat it as a domestic wire transfer when u use the Bangkok Bank New York routing number

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Bobby ********

As Garrett has explained I did my transfer via Wise into Bangkok Bank. The last one was actually one of the fastest transfers I've had in several years

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Paul ********

mine was 4seconds doing the same

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Nigel ********

..... is it still showing in your BB account as a foreign source deposit?

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Bobby ********

Nigel Phipps. Yes it shows as FTT

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Bobby ********

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Bobby ********

Not quite sure what you mean. Have you got a link to your source for this information? I transfer 65k every month, and did the latest one three days ago with no problem.

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Garrett ***********

Into what bank?

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Bobby ********

Garrett Greenwald. Bangkok Bank via Wise

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Garrett ***********

Then you wouldn't have had any issues.

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Bobby ********

Garrett Greenwald. That's good. I knew nothing about this.

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Bobby ********

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Garrett ***********

It's not that you cannot transfer more than 50k, it's that more than 50k baht requires the receiving Thai bank to make a specific filing with the government, and apparently not all banks are setup to submit those filings.

I haven't seen any issues with anyone transferring to a Bangkok Bank account, other banks some people's seem to go through, others there's a delay. Wise doesn't seem to be affect as much as the other transfer services.

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Garrett ***********

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Thai Visa Advice and Everything Else

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The Thai Visa Advice And Everything Else group allows for a broad range of discussions on life in Thailand, beyond just visa inquiries.

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