
Outward Remittance

1. How many
ways can corporate customer remits the funds outside the country
(outward remittance)?
Bank of Asia is sensitive of
the customer's needs for convenience, faster service and accuracy
when remitting the funds outside the country; thus, we offer 2 methods
of payment for outward remittance as follows:
- Funds Transfer at a branch
The customer can contact
any BOA branch in order to remit the funds outside the country.
Customer does not need to have an account with the bank.
- Funds Transfer through Asia
Cyber Banking
The bank provided an alternative
method for remitting the funds outside the country in order to
make it more convenient for the customer. The customer is able
to perform the transaction by him/herself anywhere in the world
by using the internet, and no longer need to come to the bank.
This approach allows the customer to save time as well as expense.
2. What
kinds of supporting documents are required when remitting the funds
at a branch?
If the customer would like
to remit the funds or transfer the money outside the country, customer
needs to provide additional supporting documents regarding the purpose
of the transfer. If the remittance is for payment of goods, then
the supporting documents are details and prices of the goods, such
as a purchasing/sales agreement or overseas invoice. However, if
the remittance is for loan payment, then the customer needs to provide
the copy of loan agreement as a supportive document, for example.
3. What
is the minimum remitting amount required to request for a special
exchange rate?
Normally, the customer will
have to remit in any currency with a value of at least USD 10,000
or more in order to be able to request for a special exchange rate.
However, the rate also depends on the market condition and other
external factors at that time.
4. How long
does it take before the beneficiary receives the funds?
Normally, the beneficiary will
receive the funds approximately within 2-4 working days, depending
on the final destination of that remittance. For example, if the
fund was remitted to United States, it may take up 3 days. However,
if fund was remitted to Australia, it may takes only 1-2 days. The
duration is due to the difference in working hours and the procedures
of each countries.
5. What
is the minimum and maximum amount required for outward remittance?
The bank does not set any limit
on the minimum amount when remitting the funds outside the country.
The customer can remits any amount desired, as long as the remittance
fee is paid accordingly. In addition, the bank does not set any
limit on the maximum remitting amount. However, if the customer
would like to remit funds in any currency with a value of USD 10,000
or more and the remittance is not for payment of goods that already
has supporting documents, then customer must submit the Thor. Tor.
4 form for reporting to the Bank of Thailand. The customer can request
for the Thor. Tor. 4 form at the branch that remits the funds.
6. What
is the outward remittance fee for remitting the funds outside the
country?
The normal outward remittance
fee is THB 550 per 1 oversea transaction, regardless of the amount.
However, if the customer remits the funds through Asia Cyber Banking,
then the bank will charge THB 350 only.
7. What
is the different between remitting the funds through Asia Cyber
Banking and remitting at a branch?
Remitting the funds through
Asia Cyber Banking is an alternative method for transferring money
outside the country that the bank offers to the customers. It is
a way which provides convenience, faster service as well as increase
transaction accuracy for the customer.
8. What
are the Asia Cyber Banking conditions for making an outward remittance?
The bank offers oversea outward
remittance services through Asia Cyber Banking for the Corporate
that has account with Bank of Asia and has applied for Asia Cyber
Banking and Asia Cyber Banking for Trade Finance.
9. Where
can customer obtain the application for Asia Cyber Banking and Asia
Cyber Banking for Trade Finance?
The application for Asia Cyber
Banking and Asia Cyber Banking for Trade Finance can be obtained
from any branch of Bank of Asia or at Bank of Asia's head office:
e-International Trade, e-Commerce and e-Banking Division Tel. 0-2343-4944.
10. Why
is it better to remit the funds through Asia Cyber Banking than
remitting at a branch?
1. An alternative approach
in remitting the funds to other country
2. More convenient and faster service
3. Increase transaction accuracy
4. Lower fee - the outward remittance fee when remit through Asia
Cyber Banking is only THB 350; whereas, the fee when remit at
a branch is THB 550.
5. Customer can track the remittance status to see whether the
bank is processing the transaction or the transaction has already
been remitted.
11. What
are the required supporting documents when remitting the funds outside
the country through Asia Cyber Banking?
The remitter must send the
relevant documents, such as overseas invoice, purchasing/sales agreement
and purchase order, to the bank after remitting the funds through
Asia Cyber Banking.
12. For
Asia Cyber Banking outward remittance transaction, where should
the supporting documents be sent to?
The documents can be sent to
head office or International Business Center via fax. Thus, the
customer does not have to visit the bank. The telephone and fax
numbers for the International Business Center are as follows:
Head office:
Customer Service Section |
Tel. 0-2343-3315-17
Fax 0-2285-1412, 0-2213-2618,
0-2285-1620 |
International
Business Center:
|
|
Bang-na
|
Tel. 0-2398-9234
Fax 0-2398-9235 |
Samyak
|
Tel. 0-2221-4451-2
Fax 0-2221-4454 |
Sriracha
|
Tel.
0-3832-6765-6
Fax 0-3832-6768 |
Hatyai
|
Tel 0-7424-7671-2
Fax 0-7424-7674 |
13. What
are the steps involved in remitting the funds outside the country
through Asia Cyber Banking?
Remitting the funds outside
the country through Asia Cyber Banking can be done by logging into
Asia Cyber Baking by typing in the User ID and Password. Then, select
from the menu "Import&Export" and choose "Remittance".
Fill out the details, and have an authorized representative electronically
approve the transfer. Once the transaction is completed, fax the
relevant documents for the transfer to the appropriate International
Business Center.
14. Who
can assist the customer in resolving issues when remitting the funds
outside the country through Asia Cyber Banking?
For assistance, please contact
e-International Trade, e-Commerce and e-Banking Division
Tel. 0-2343-4944.
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