Being a nitpicker, I think you mean 30 transactions:you would need to make 30,000 transactions,
300,000 / 10,000
Being a nitpicker, I think you mean 30 transactions:you would need to make 30,000 transactions,
Thanks for that. Made my day!Well spotted young man,
Yes you would definitely have the authorities climbing all over you, and Just as likely the Bank looking for their $900,000.00 fees base on a single transaction cost of AUD $30.00StevePIraq wrote: ↑Tue Jun 12, 2018 11:12 am
So based on this if you are bringing over 3m Baht roughly 300kAUD, which being the proceeds of a house sale and pension is on the low side, you would need to make 30,000 transactions, do you really think the authorities will not be climbing all over you. The only way is through a formal bank and from my experience with Westpac they will give a better rate than the norm when transferring substantial amounts. It will still not be a simple thing to do as it will have to be approved by the authorities who will want proof of where the money has come from. She will also have to go through the formal Probate process.
Might want to start a new topic for that, this one is about sending money to Thailand.StevePIraq wrote: ↑Wed Jul 11, 2018 10:51 am Has anyone any thoughts on alternatives for sending cash out of Ting Tong Land.
.”can’t open a new Australian account as although I have bank and investments I have no bills, driving licence or visa which are required to open accounts
You can set up ACH to Bangkok bank NY branch and then your Schwab fee will be a big fat $0. You'll only need to pay the usual incoming wire fee in Bangkok bank.
I lived and worked in Oz for 8 years so I do know the system there. I have accounts with Westpac, Commonwealth and ANZ However opening an account is not the topic.hin wrote: ↑Thu Jul 12, 2018 10:43 pm Steve P - do not know where you are or where your citizenship is but do not understand why you
“.”can’t open a new Australian account as although I have bank and investments I have no bills, driving licence or visa which are required to open accounts
When I was in Oz I had a Commonwealth checking acct and ATM card with no driving license and only ID was USA passport and a tourist visa. And same in New Zealand at ANZ Bank. Altho it was a few years ago. Why do you need references to put money in the bank? Getting a credit card tho would be a different matter. I got my first one without credit references and skipping all the bullshit by making a deal with the bank manager - opened a separate ‘frozen’ bank acct to cover the credit card and the amount in that frozen acct was my credit card limit. After 6 months the restrictions were taken off the credit card and I closed the frozen acct. There’s more ways to sc**w a cat than to hold him by the ears.. To fail without trying gets you zero but if you try and then fail you czn at least learn somthing
StevePIraq » Thu Jul 12, 2018 5:52 pm
...I can't open a new Australian account as although I have bank and investments I have no bills, driving licence or visa which are required to open accounts.
StevePIraq » Sun Jul 15, 2018 5:35 pm
...I lived and worked in Oz for 8 years so I do know the system there. I have accounts with Westpac, Commonwealth and ANZ However opening an account is not the topic.
Precisely, it is an Investment Bank - and exactly as I stated. I transfer thru my brokerage acct with no hassles. My perception was that your question was about transferring money and that is what my suggestion tried to address. Did not realize you had already narrowed down what type of banks or accounts would be acceptable to you - altho they did not work out in the past. It seems crazy to be so full of what cannot be done that it becomes pointless to research what might be possible.StevePIraq » Sun Jul 15, 2018 5:35 pm
...Schwab Australia is not a commercial bank it is an Investment Bank
Although low, Bkk Bank NY does have fees. On $20,000 would be $!0 + ฿500 but for the difference I prefer to stick with Schwab’s $25 and prefer their bookkeeping. Have not tried both ways but usually transfer less often in large lumps and have always had a better exchange rate with Schwab than what Bkk Bank publishes. Even right here in Thailand Bkk Bank is not the best for exchange rates.moater » Fri Jul 13, 2018 7:54 am
You can set up ACH to Bangkok bank NY branch and then your Schwab fee will be a big fat $0. You'll only need to pay the usual incoming wire fee in Bangkok bank.
BTW, since mid-2017 Schwab USA is no longer opening accounts for residents of Thailand. They redirect people to Schwab Singapore instead, which offers no debit card