What issues can expats face with Thai bank accounts, especially regarding large money transfers?

Question

Has anyone had any trouble with their Thai bank account locking them out of their account or freezing their account? The reason why I ask is I might need to do a big money transfer from China/Canada.

Ask Thailand · Answer

This discussion addresses the concerns about Thai bank accounts being locked or frozen, especially with large money transfers from China or Canada. Many users report having no problems with their Thai banks, including those who have been expats for years. However, some mention that significant transfers may prompt questions from the bank regarding the source of funds, particularly if one holds a Smart S Visa. Additionally, it is highlighted that while foreigners can purchase condos in Thailand, they cannot own land, which is relevant for any financial transactions connected to property. The conversation also touches upon challenges faced when transferring money out of China.

Evelyne ********************** · Answer

Does owning a condo facilitate opening a bank account?  Tia

Paul ******* · Answer

[mention redacted] any foreigner can purchase a condo in Thailand. No visa allows you to purchase land in Thailand. Not a SMART visa, not a retirement or work visa. None. Under BOI rules, a foreign company can technically own the land your investment sits on, but it doesn't belong to you as an individual. Only ever to a company.

Terry ******** · Answer

It’s notoriously difficult for a foreigner to send money out of China. I speak from experience. But since I lived in Guangzhou, I used to make regular trips down to Hong Kong where you can send or receive money extremely easily and the transaction is usually completed within 1-2 hours

Todd ********* · Answer

It appears that the need for a photograph to be on file at your bank is becoming a requirement for certain transactions.

Cassandra ****** · Answer

They will never question you if you have Smart S Visa, as smart s visa allowed to buy property here and if the bank saw that you are Smart S visa holder they will not question your incoming money transaction because they knew that you are Start up entrepreneur here, I had smart visa that's why I knew it.

Mark ******** · Answer

Just send it via my Thai account....

Brown ******** · Answer

Nope. I spend 3-4 months a year outside Thailand and never had an issue

Michael ******** · Answer

Never had problems like that and had bank account since 1988. My friend was questioned once when doing a big transfer in and they just phoned asked what money is for (building house) and that was it.

What issues can expats face with Thai bank accounts, especially regarding large money transfers?

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