Best way to withdraw money from Bangkok Bank account while abroad?

[anubis752]

I was working in Bangkok for a while but I have recently moved away. I have some money tied up in my Bangkok Bank account. Before leaving Thailand a few months ago, I filled out the form to set up an international wire link to my American bank account. The woman at the bank said I would receive an email confirming that the account was linked but I have not received anything. What's the best (and cheapest) way to get my money out of the account from the US? I think I'd lose a lot in fees by withdrawing from ATMs here because of the daily limits.

[KKr]

Hi, and welcome.
what is an " international wire link " ?

If you have an ATM / debit card, I'd simply raise the daily limit and use the card for daily expenses and PayPal .
From what I understand, you'd need a permit to wire substantial amounts of money out from whoever is in charge of currency control. 

[Thailand J]

It does not sound like you have successfully established the online outgoing wire transfer option so the ATM may be the only way. Is there anyway you can complete the process?

Dee money is a new company but you have to register in person to start transferring money out.

[KamnanT]

Did you sign up for Bualuang iBanking (Bangkok Bank's online banking application) before you left Thailand?  If you did, you can check there to see if your US bank account is listed as a registered recipient for SWIFT transfers and, if it is, what limits they have placed on your transfer amounts.  The Bangkok Bank fee for a SWIFT transfer initiated via online banking is 300 baht and the receiving bank in the US will most likely deduct their own fee.  iBanking does not give you the option of sending THB - you can only send in the currency of the receiving account (in your case, USD) but that's probably the way you want it anyway: your US bank would give you a very unfavourable exchange rate on an "exotic" currency such as THB.

[Thailand J]

SWIFT transfers can be very expensive comparatively, especially if the amount is small. If the option is available, do a cost analysis and make a one time lump sum transfer.

Edited October 27, 2018 by Thailand J

[KamnanT]

44 minutes ago, Thailand J said:

SWIFT transfers can be very expensive comparatively, especially if the amount is small. If the option is available, do a cost analysis and make a one time lump sum transfer.

A SWIFT transfer is a one-time, lump sum transfer.  Bangkok Bank's online fee is a flat 300 baht, regardless of transfer size, so a single SWIFT transfer would inevitably be cheaper than multiple ATM withdrawals, where each would be subject to a fee in the US ($2.50-$7.50 per transaction, depending on the ATM) and in Thailand (100 baht per overseas ATM withdrawal).  Most receiving banks will also levy a charge on an incoming SWIFT transfer - in my experience this has been in the $10 to $20 range.

 

Much depends on the total amount of money the OP needs to repatriate.  If it's $200, then a single ATM withdrawal would be cheaper.  If it's $20,000, then a single SWIFT transfer would be cheaper than 40 ATM withdrawals (assuming a bank limit in the US of $500 per withdrawal).

 

KKr's suggestion would also work if the OP doesn't need cash and has a VISA-branded debit card on the Bangkok Bank account.  Just use the debit card for daily spending until the account balance is gone - no transaction fees and the exchange rate isn't too bad.  Unfortunately, most Bangkok Bank debit cards issued in the last few years are not VISA but China Unionpay: practically useless for purchases in the US.

[natway09]

Not linked to an ATM card ?

[khunPer]

On 10/26/2018 at 8:09 AM, anubis752 said:

Best way to withdraw money from Bangkok Bank account while abroad?

Just leave the ATM-card with your Thai partner...????
(Sorry, couldn't resist)

Apart from that, I would think a SWIFT-transfer via your Bangkok Bank's Internet-banking. The US branch of Bangkok Bank is often mentioned in this forum with questions about transferring money from US to Bangkok Bank in LOS, so that might also be a possibility to open an account in the US-branch and transfer between branches. Unfortunately I'm not from Us, so I don't know details.

[khunPer]

1 minute ago, khunPer said:

Just leave the ATM-card with your Thai partner...????
(Sorry, couldn't resist)

Apart from that, I would think a SWIFT-transfer via your Bangkok Bank's Internet-banking. The US branch of Bangkok Bank is often mentioned in this forum with questions about transferring money from US to Bangkok Bank in LOS, so that might also be a possibility to open an account in the US-branch and transfer between branches the other way round, i.e. from LOS to US. Unfortunately I'm not from Us, so I don't know details.

 

[Donut21]

Try Azimo.  I find them to be very helpful.

[simoh1490]

1 minute ago, Donut21 said:

Try Azimo.  I find them to be very helpful.

they don't have a Thai banking license, they are not authorised to send money outside Thailand.

[HHTel]

Don't know about the US but the ATM withdrawal limits are much higher than local limits in the UK.  The last time I was there I withdrew from the ATM 1,000 GBP at a time.  My limit on my BKK bank account is 50,000 baht from an ATM.