Thailand bank account - experiences, AML limits, crypto exchange compatible?

miner · Apr 20, 2018

Any experiences with Thailand banks about account blocking, asking for sources of money?

Are Thailand banks okay with money from or to crypto currency exchanges?

How much money can you bring in per transaction without getting trouble?

How much money can you bring in per month without getting trouble?

How much money can you bring in per year without getting trouble?

How much money can you spend (wire transfer) per transaction without getting trouble?

Anyone got their account blocked and how difficult / fast was it to get unblocked?

Background: I made money using crypto currency trading. Would like to maybe buy a condominium.

No need to hide anything from my home country or tax man. I hate when banks block my account for days or weeks, asking more and more documents until they are finally satisfied and unblock. I don't like explaining to bank people why I am legally a prior taxpayer or providing evidence how I got the money, how much I have in total and so forth. None of their business.

orientalc · Apr 21, 2018

i never had this kind of problems with Thai banks, but heard that they might start asking questions if you spend more than 3 millions baht at once.

JohnLocke · Apr 21, 2018

Most people that live in Thailand and are not from there bank offshore. I believe there is a reason for that

MrTony · Apr 23, 2018

Could you kindly name some Thai banks, that you can advise?

miner · Apr 26, 2018

I wonder why there is so little interest if Thailand asks so few questions?

MrTony said:
Could you kindly name some Thai banks, that you can advise?

I haven't tried yet. Once I have experience in a few years. Ask me again.

DubaiOffshore · Apr 29, 2018

Thai banks start asking questions when you transfer 20 million thb inside the account from my experience.
The thing is, you can't take it out.

Nyep · Apr 29, 2018

DubaiOffshore said:
The thing is, you can't take it out.

You can take it out, but only if you can prove that the money originated from out of the country, or was made in the country legally (=work permit, etc.). For example, if you simply wire in a few millions and then immediately wire them out, no questions will be asked because the banker will see immediately that the money originated from abroad. Issues start when a few years pass between that inward wire and the outward wire. You need to keep documentation of the money flowing in (and how it morphs in the country in those years) if you want it to be able to flow out.

Benzouser · Dec 28, 2021

Kasikorn bank or Bangkok bank is to prefer in Thailand.

Keep in mind Jan22 they start to collect info for the 2023 CRS-AEOI .
Its still not in hand but TH has to end of december to Ratify there CRS agreement ... hope that fails

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Thailand bank account - experiences, AML limits, crypto exchange compatible?

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