Remittance senders and receivers must have a deposit account for making international fund transfers.
For remittance amounts starting from USD 50,000 or equivalent, a Foreign Currency Transaction Form and supporting documents as per the remittance purpose are required.
Fund availability in the receiver’s account varies by time zone and business hours of their bank.
For outward remittance transactions not following the Bank of Thailand’s requirements, the Bank of Thailand’s permission must be sought and granted before making the transactions.
SCB reserves the right not to provide service in the event that a receiver is on the OFAC sanction lists or other lists of individuals, parties, or organizations identified as representatives of sanctioned countries.
What you should know
Bank codes may vary, depending on each destination country.
For outward remittance transactions to receivers in Europe and certain countries in the Middle East, the receivers’ International Bank Account Number (IBAN) must be provided in the transaction form. Otherwise, the receiver’s bank will not be able to make funds available in the receiver’s account and the remittance instructions will be returned to the sender’s bank.
- IBAN codes are 15-30 digits
- IBAN currency: Euro (EUR)
Complete an outward remittance form (foreign fund transfer/exchange form).
Present your identity document. (Please make sure that it remains valid.).
Specify a remittance purpose. For remittance amounts starting from USD 50,000 or equivalent, supporting documents as per the remittance purpose must be provided in compliance with the Bank of Thailand’s regulations.
Submit the outward remittance form and supporting documents (if any) to a bank officer to process the transaction.
Receive a transaction slip and notify the receiver of the transaction.
BEN: An SCB outward remittance fee of 550 baht/transaction is charged to the sender. The receiver’s bank will deduct an inward remittance fee from the transaction amount, so the actual amount available to the receiver will be less than the transaction amount.
OUR: The sender is responsible for both the SCB outward remittance fee at 550 baht/transaction, plus an inward remittance fee charged by the receiver’s bank in the transaction currency, as follows:
- USD: 800 baht/transaction
- EUR: 1,200 baht/transaction
- GBP: 1,200 baht/transaction
- JPY: 0.05% of remittance amount/ transaction (minimum JPY 5,000 or equivalent)
- Other currencies: 800 baht/transaction
Commission in lieu of exchange in the event that a sender makes a payment for an outward remittance in the same currency as the transaction currency:
- USD & THB: 0.25% of remittance amount
- Other currencies: 0.50% of remittance amount