How can a canadian take out 100k baht from bank while avoiding multiple fees?

[lastminutebozo]

Hi, I need to withdraw 100k baht from my scotiabank chequing account. I went to multiple banks but they said they aren't able to do it and that i should just use the atm and pay the fee everytime which is 220 baht. The problem is that i can only withdraw 11k baht per my bank limit and even if i have it raised, the atm only allows 20k to 30k baht per transaction. I went to weston union, they said they require the debit card to have the owners name on the card. Scotiabank debit cards don't have that. They weren't sure about the limit of how much i can withdraw at once anyway. 

 

Is there any solution to this? Any special bank that can work this out? Should I call my bank and see if they can arrange something? or Is there a way to send money cheaply to a friend who has a thai bank account? (The person is thai) Using this method i probably will not pay any fee or very little, under 100 baht i think. 

[MeePeeMai]

TransferWise. You can send the money to your friends thai bank account (if you don’t have one yourself)

[pgrahmm]

If you have a Visa or Mastercard debit card for your bank account....Take your card & passport to a Bangkok bank that has currency exchange - several in CM.....

Go to the teller & tell them you want a cash advance.....They will run the card and give you the cash....They will make a copy of your passport for you to sign across as well as the debit card receipt to sign.....

No charges from Bangkok bank but your home bank might charge a fee.....

Good up to 400k.....

I've done it many times......

[lastminutebozo]

2 hours ago, MeePeeMai said:

TransferWise. You can send the money to your friends thai bank account (if you don’t have one yourself)

Thanks

[lastminutebozo]

2 hours ago, pgrahmm said:

If you have a Visa or Mastercard debit card for your bank account....Take your card & passport to a Bangkok bank that has currency exchange - several in CM.....

Go to the teller & tell them you want a cash advance.....They will run the card and give you the cash....They will make a copy of your passport for you to sign across as well as the debit card receipt to sign.....

 No charges from Bangkok bank but your home bank might charge a fee.....

 Good up to 400k.....

 I've done it many times......

Oh great, thanks i'll do that!

[JamJar]

8 hours ago, lastminutebozo said:

Oh great, thanks i'll do that!

 

Let us know how it goes. 

First of all, it's unlikely to happen and secondly it would be relatively poor value as compared to Transferwise.

 

If it does happen, it will cost at least C$4,402.40

With Transferwise; C$4,310.58

[billp]

Transferwise and Canadian major banks is a big problem. I recently needed $25,000 CAD transferred to me in Germany and National Bank COULD NOT transfer the funds to my Transferwise borderless account because the recipient is not me personally (but rather the TW general account with my TW account number as info). If you’ve already jumped the hoops and have set up a TW account, as far as I can gather, the only way to get money into their system if you’re not personally in Canada, is if you have an account at Bank of Montreal, TW is part of their online bill-paying system. (Canadian banks do not have anything equivalent to the SEPA cross-bank, cross-country funds transfer system familiar to Europeans.)

 

Best solution would be for someone in Canada to front you the money and make a SWIFT transfer to a Thai bank account. If they’re part of your personal network, you can pay them back from your Scotiabank account.

[trevor67]

46 minutes ago, billp said:

Transferwise and Canadian major banks is a big problem. I recently needed $25,000 CAD transferred to me in Germany and National Bank COULD NOT transfer the funds to my Transferwise borderless account because the recipient is not me personally (but rather the TW general account with my TW account number as info). If you’ve already jumped the hoops and have set up a TW account, as far as I can gather, the only way to get money into their system if you’re not personally in Canada, is if you have an account at Bank of Montreal, TW is part of their online bill-paying system. (Canadian banks do not have anything equivalent to the SEPA cross-bank, cross-country funds transfer system familiar to Europeans.)

 

Best solution would be for someone in Canada to front you the money and make a SWIFT transfer to a Thai bank account. If they’re part of your personal network, you can pay them back from your Scotiabank account.

I've used transferwise using TD, Tangerine, EQ in Canada....both by bill pay and pulling (direct debit)...no problem and usually paid in 24 to 48hrs.

[Gold Star]

I am in the same situation as the OP, and to this date I have not found a cheaper way than to bring cash into Thailand, 40k or 50k each trip, couple times a year. Its a real pain flying with a wad of cash, and having to declare it leaving Canada and declare it again arriving in BKK.

A VISA cash advance is expensive with poor exchange rates, as well as withdrawing money from an ATM with fees on both sides.

To do a bank transfer, I have also found I must be in Canada in person at my TD branch to originate a wire transfer for a $30 fee, to my Bangkok Bank account.  As Billp pointed out, I could have a friend wire it to my Bangkok bank account for me, but then I still have to transfer it to him using email transfer in 3k chunks. With all bank transfers, when the money arrives in Thailand, the bank’s exchange rates are terrible, compared with the main offices of Pattaya TT exchanges using cash in 100s. You can ask them for a slightly better rate than posted if you have a few grand to change. The exchange rate spread on USD is much tighter than the CAD spread, so if you have USD cash in 100s, its the most economical solution for us Canadians that I have found to date due to our crappy banking system.  

Has anyone found a Thai bank that you can open up a Canadian funds account, or US funds account?

[rwill]

Do you have a relative or close friend in your home country that could wire it for you?  

 

If you can get your bank to raise the limit you can withdraw to 30K baht at a time (and if your bank does not charge a fee for withdrawals)  you could get 100K from an ATM in 4 withdrawals, which would cost 880 baht fee from the Thai ATM (ALWAYS select 'continue without conversion).  For me to send 100K using transferwise would cost about 1,000 baht.

Edited July 12, 2019 by rwill

[Colabamumbai]

You need to be in person at your Canadian bank to do a swift transfer, about 200 bucks. 

[RBOP]

Go online and ask Scotiabank. If you had setup online banking its a simple task of adding an international account to transfer too. There's no avoiding those transfer fees but your limit will be higher than going to an atm. 

[Gold Star]

12 hours ago, trevor67 said:

I've used transferwise using TD, Tangerine, EQ in Canada....both by bill pay and pulling (direct debit)...no problem and usually paid in 24 to 48hrs.

Please explain just how were you able to use Transferwise using TD Easyweb online using CAD$? I cannot find them as approved accounts to set them up as a payee in bill payments, or transfers, or even Global transfers.

[trevor67]

Sign in to Transferwise and do your debit from there.....TD bank will come up as one of your choices.

[treetops]

22 hours ago, rwill said:

If you can get your bank to raise the limit you can withdraw to 30K baht at a time (and if your bank does not charge a fee for withdrawals)  you could get 100K from an ATM in 4 withdrawals, which would cost 880 baht fee from the Thai ATM (ALWAYS select 'continue without conversion).  For me to send 100K using transferwise would cost about 1,000 baht.

This, plus withdraw in branch or use the Kasikorn VTM if possible, as opposed to ATM, which will allow 100K baht per withdrawal.  Not sure if there are any restrictions on VTM use.

[LammyTS1]

I withdrew 100,000 from inside Bangkok bank using my home banks Visa card and by showing my passport. 

It’s free of charge at all thai banks, my U.K. bank doesn’t charge a fee and they use the current MasterCard exchange rate, meaning no charges whatsoever.

i also get the a better exchange rate than anywhere else.  

I then simply transfer the cash online to my banks Visa card and pay it. No interest charges unless I delay payment for a few days/weeks.

Edited July 13, 2019 by LammyTS1

[JamJar]

14 hours ago, LammyTS1 said:

I withdrew 100,000 from inside Bangkok bank using my home banks Visa card and by showing my passport. 

It’s free of charge at all thai banks, my U.K. bank doesn’t charge a fee and they use the current MasterCard exchange rate, meaning no charges whatsoever.

i also get the a better exchange rate than anywhere else.  

I then simply transfer the cash online to my banks Visa card and pay it. No interest charges unless I delay payment for a few days/weeks.

 

You use a VISA card and get the Mastercard rate? ????

 

Which bank's card is this?

 

Regardless, it's definitely not free of charge at all Thai banks

[Sealbash]

Bitcoin


Sent from my iPhone using Thaivisa Connect

[LammyTS1]

 
You use a VISA card and get the Mastercard rate? [emoji846]
 
Which bank's card is this?
 
Regardless, it's definitely not free of charge at all Thai banks

Stating visa rather than MasterCard each time is quicker! Halifax clarity MasterCard.

I’ve withdrew large cash amounts at Bangkok bank, Krungsi & Siam all free of charge. Haven’t come across any yet that charges a fee but if unsure, just ask.


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[MeePeeMai]

14 hours ago, Sealbash said:

Bitcoin

I would agree but it might be hard to sell here.  

[JamJar]

2 hours ago, LammyTS1 said:

 

Stating visa rather than MasterCard each time is quicker! Halifax clarity MasterCard.

I’ve withdrew large cash amounts at Bangkok bank, Krungsi & Siam all free of charge. Haven’t come across any yet that charges a fee but if unsure, just ask.


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

 

 

 

SCB used to levy a 180 baht 'admin charge'. Perhaps it is/was just some branches that did so.

Of course not at all helpful for a Canadian. They don't have such a credit card and it is important that it is a credit card. Thai banks aren't as keen to transact with debit cards.

[Gold Star]

On 7/12/2019 at 7:14 PM, trevor67 said:

Sign in to Transferwise and do your debit from there.....TD bank will come up as one of your choices.

Wow. Many many thanks for this information. According to TD, it was impossible from their end, but by doing the debit from the Transferwise side, I can do it. After years of frustration with our Canadian banking system, I have finally set up my Transferwise account, been verified, and am now able to send up to $9500CAD per transaction into my Thai Bangkok bank account, at a cost of about 1.17% off current exchange rate. For $1000CAD it is about 1.57%. About 3 business days. Cheers!

[blackcab]

An off topic post has been removed.

[mrwebb8825]

If you're giving money to a Thai from a checking account then just write him/her a check. Thais can cash them much easier than a foreigner can.