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IFT

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::Frequently Asked Questions:: 

1) What is the International Funds Transfer Service via Bualuang iBanking?    

With Bualuang iBanking, you can transfer money, quickly and conveniently, to beneficiaries living overseas.
 
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2) For what purposes can I use the International Funds Transfer Service?
  
This service can only be used for the following purposes:
  • Educational expenses (for Thai nationals) 
  • Repatriation of income from foreigners working in Thailand
  • To assist relatives who are permanent residents in a foreign country (for Thai nationals)

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3) How do I apply for this service?

If you have already registered for Bualuang iBanking then you can apply to make an International Funds Transfer via Bualuang iBanking by following these simple steps:

  1. Print out the Application for International Funds Transfer Service via Bualuang iBanking.
  2. Complete the application form.
  3. Submit your application along with the required supporting documents to any Bangkok Bank branch.

If you have not yet registered for Bualuang iBanking you can sign up for the International Funds Transfer at the same time as you apply for Bualuang iBanking. Click here to view details about how to apply for Bualuang iBanking.

Please note: You will need to sign the application form as well as the form titled Terms and Conditions governing the International Funds Transfer Service via Bualuang iBanking, which will be provided to you at branch, in front of a bank officer (the signature in the Application for Bualuang iBanking and Application for International Funds Transfer Service via Bualuang iBanking need to be the same).

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4) What supporting documents should I prepare for applying this service?

You need to bring the following documents to the branch when you apply.

  • For Thais, a citizen ID card or 13-digit government photo ID card
  • For foreigners, a valid passport 
  • Supporting documents to indicate the purpose of the transfer

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5) Please outline the documents needed to support my application.

Purpose of Transfer Supporting Documents Conditions

Educational expenses

Letter from an educational institution or government agency

The annual transfer limit will be based on the letter issued by the educational institution

Repatriation of income from foreigners working in Thailand

Letter issued by employer indicating salary

The annual transfer limit will be based on the salary stated by an employer less tax(and expenses)

Assistance to relatives who are permanent residents of a foreign country

1. Evidence from a foreign  government affirming that the recipient is a permanent resident in the foreign country

2. Account information from the intended recipient

The annual transfer limit will not exceed USD 1,000,000 or equivalent

 
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6) How can I make an International Funds Transfer?

After your application has been approved, you can transfer funds to registered beneficiaries. Go to "Transfer Funds" and select "International Funds Transfer" to start using the service.

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7) What is the transaction limit?

The amount of each transaction should be lower than USD 20,000 or equivalent. The total transferred amount cannot exceed the limit set for each beneficiary.

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8) Can I cancel a transaction?

You can cancel transactions which have not been processed by going to menu and clicking "Pending Transfer".

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9) How much does the service cost?

The bank will charge you Baht 300 per transaction.

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10) How can I change information relating to this service?

To amend information such as Beneficiary's Address, Beneficiary's Bank Name, Account, Address, Service extension and transfer limits, use the form called "Request to change information relating to International Funds Transfer Service via Bualuang iBanking".
Print it out, complete and submit along with supporting documents(if any) to a branch office.

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11) Can customers transfer funds via Bualuang iBanking to all countries worldwide?

Customers can transfer funds to most countries worldwide via Bualuang iBanking. There may be cases where Bangkok Bank may not be able to transfer funds to certain countries or financial institutions due to international rules and regulations. We will advise you if we cannot transfer funds to the country which you have registered.

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12. How many currencies can a customer transfer via Bualuang iBanking?

Currently, you can transfer funds in as many as 16 currencies as follows: USD, GBP, EUR, JPY, HKD, SGD, IDR, INR, PHP, AUD, NZD, CHF, DKK, NOK, SEK,and CAD.

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13. How does the bank determine the yearly limit for transferring money? 

The maximum yearly limit for transferring money out of Thailand is determined by the Bank of Thailand based on the purpose of the fund transfers and supporting documents. For example, the maximum amount for transferring funds to students studying abroad for one year is based on the amount specified in the supporting documents and other necessary expenses to be considered on a case by case basis. The maximum amount that a Thai national can transfer funds to relatives living permanently in other countries is not more than US$1,000,000 or equivalent. The amount an expatriate can transfer savings to his or her home country in a year is based on monthly earnings indicated in the supporting documents multiplied by 12.

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14. Can I print a receipt for my International Funds Transfer?

You can print a receipt from the "confirmation page" for any international funds transfer made during banking hours. Receipts cannot be printed for international funds transfers made outside banking hours or on bank holidays.

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