Frequently Asked Questions
- Can I make an international funds transfer via the internet?
Yes, you can make an international fund transfer via our online service, Bualuang iBanking.
- How much does it cost in fees to send funds abroad?
We charge a fee of 400Bt per transaction to send funds abroad from a branch and 300Bt if sent via the internet. However correspondent banks and destination banks also charge fees which will be deducted from the amount to be sent. If you wish the recipient to receive an exact amount, you can elect to pay both sender and correspondent bank fees.
- Do I need to provide documents to declare my purpose of sending funds abroad?
The Bank of Thailand requires every commercial bank to obtain documents from customers outlining the reasons for sending the funds abroad before completing the transaction. For example, you may need to provide an invoice if you make a funds transfer to pay for goods or services.
If you are foreigner, you will need to bring a document declaring the source of your income (e.g. a salary certification) to complete your overseas funds transfer.
- What information do I need to send money to an overseas bank?
Bangkok Bank will need the following details:
Is there a limit to the amount I can transfer?
- The recipient’s account name and number
- The currency and amount of money
- The name and address of the recipient bank
- The SWIFT code of the recipient bank (if available)
- The purpose of the transfer
If you are transferring funds to a bank account in Europe, you should provide an IBAN (International Bank Account Number) in your payment instruction.
The maximum amount you can transfer out of Thailand is determined by the Bank of Thailand, depending on the source of funds and/or the purpose of payment, including supporting documents. For example, if you are a foreigner repatriating proceeds from the sale of a condominium, then you would need to submit the purchase and sales contract and ownership title documents. In this case, the maximum transfer amount would be the selling price for the condominium.
Regardless of how much is transferred, the Bank of Thailand requires senders to specify in their payment instruction the purpose of the payment (Thai residents) or the source of the income (for foreigners), as well as present any supporting documents.
Reason for Transfer
|Repatriating income (Foreigner)
||Letter from your employer stating your income |
|Paying for goods or services
|Paying for educational expense
A letter from the college or school stating tuition fees; or Invoice from the school
How much does it cost to send funds out of Thailand using SWIFT?
There are two fee options when remitting funds:
What exchange rate does Bangkok Bank apply to outward transfer transactions?
- Charge BEN - Pay the sender fee to Bangkok Bank (400Bt), and have the receiver pay the correspondent bank fee (fees may vary)
- Charge OUR - Elect to pay both the sender and receiver fees before sending the funds (1,150Bt for all currencies, except JPY*). Please note, recipients may not receive the funds in full if foreign banks charge extra fees.
* For JPY - 400Bt plus 0.05% of the funds transfer (min. 2,100Bt) per transaction
Bangkok Bank will apply its “Selling Rate – TT” to outward transfers via SWIFT to an overseas bank account. Click here to see Bangkok Bank’s latest foreign exchange rates
Can I send funds to an overseas bank account in Thai Baht?
Yes, provided the receiving bank accepts Thai Baht. A “commission in lieu of exchange fee” of 0.25% of the payment amount, (minimum 300Bt, no maximum) plus Bangkok Bank’s outward transfer fee of 400Bt.
What is an IBAN?
IBAN stands for ‘International Bank Account Number’, which is required when transferring funds to a bank account in Europe. Senders should ask recipients for their IBAN.