Bring money into LOS?

[mekong.star]

What is the easiest and safest way to bring a

(For me) large amount of money to open a Thai bank account?

This, jp

 

 

 

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[mstevens]

Bring a small amount of cash in to Thailand and open the bank account. Then transfer the remaining large amount by telegraphic transfer from your country to your Thai bank account. That would be the safest way to do it.

[Colabamumbai]

In your crotch. 

[boonchu]

By the truck load would be a start.

[rwill]

1) Use a service such as transferwise to send it to a Thai bank.  TransferWise limits the transaction to 2 million baht maximum and for me(USA) the fee for that amount is about $470 but you get a good exchange rate.  A problem people are having with TransferWise if they have to show the transfer as international for visa purposes.  TransferWise transfers are showing as a domestic transfer now.

 

2) If you have a relative or friend you trust enough send the money to them and have them wire it to your account.  I have my sister do it for me.  Fee for her is $75.  But you can send much larger amounts this way.  You will not get as good an exchange rate as using transferwise, about 20 satang less if find.  So that eats some of your money too.

 

3) If your home bank allows you to do international wires online you can do it that way too.  Expect about the same as 2 above in costs. 

 

4)  You can also give the Thai bank here a check to deposit from your home account.  This is slower, 3 weeks to 3 months for the check to clear.  And may fail.  The Thai bank charges a fee for it and if the check does not clear they charge you an even larger fee.  Last time I tried it failed.  Reason given was that my home bank said they could not contact me. I think they took 2,000 baht from my account for that not clearing.

 

Some banks have transferwise integrated into them, such as N26.  That could make it easier for you.

 

(Crypto currency may be another way to do it.  But I don't have any knowledge about that.)

 

No matter what, other than bringing cash in with you when traveling, you are going to lose a pretty large amount of money on the transfer.  If you do bring in cash do not exchange it at banks or hotels here.  Use an exchange shop such as superrich for a much better exchange rate.

Edited August 2, 2019 by rwill

[dotpoom]

1 hour ago, Colabamumbai said:

In your crotch. 

You think that's a safe place?

[remorhaz]

The quickest way to move large sums of money into the kingdom is to simply get a girlfriend here - any gogo bar lady will do.  In no time at all you'll be moving large sums into Thailand with a 100% success rate.

[paulbrow]

Open a Thai account with a small amount, then wire anything you want into the account. My US banks charge $45 for a wire regardless of amount and my Thai bank doesn't charge anything to receive a wire. Money always in within 12 hours. I do this all online with banks at both ends.

Edited August 2, 2019 by paulbrow
more infor

[paulbrow]

50 minutes ago, remorhaz said:

The quickest way to move large sums of money into the kingdom is to simply get a girlfriend here - any gogo bar lady will do.  In no time at all you'll be moving large sums into Thailand with a 100% success rate.

I suspect he actually wants to see the money again...

[spidermike007]

Carrying cash is the most fun. 

 

Edited August 2, 2019 by spidermike007

[villagefarang]

3 hours ago, paulbrow said:

Open a Thai account with a small amount, then wire anything you want into the account. My US banks charge $45 for a wire regardless of amount and my Thai bank doesn't charge anything to receive a wire. Money always in within 12 hours. I do this all online with banks at both ends.

Mine is $45 dollars as well and arrives the next morning but requires and international phone call for approval.

Edited August 2, 2019 by villagefarang

[The Fat Controller]

@rwill

 

The OP DOES NOT have a Thai bank account yet !

 

He is bringing over money in order to open one.

 

@mekong.star

 

Bring over a small amount, try to find an accommodating bank and then use one of the other suggested services.

[Acharn]

Depends how much you're talking about. I used to transfer my monthly pension from the States by ATM. My credit union gives me a VISA card with a low APR and no fees. The Thai banks charged ฿220 (about $7) per transfer, with a maximum of ฿20,000, and there was a limit of $1,000 per day on my card. If you go to the bank counter you may be able to transfer a larger amount, I don't know -- never tried it. I now use Transferwise, but the ACH transaction takes five or six days. Fee is normally around $27 for over $2,000.

Edited August 2, 2019 by Acharn

[mekong.star]

I will open a Thai account
Then wire transfer to it.
Usd $39 per any amount transfer my bank.
Thanks for the replies.


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