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Easily send USD or Euro to Thailand. Receive same day. No transfer fees.


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8 minutes ago, sanooki said:

Actually as of now, the service is very limited, as I mentioned above, in the US you need to be a resident of NJ. I am a long time resident of Thailand, and I do have a need to send money out, but the options in general are very limited. I have figured out a way other than direct wires from Thai banks, but it's convoluted and who knows how long it will continue. Kasikorn has a K+ app that has an international transfer option. I've tried to use it a few times, but it never works. Support only tells me to try it again, smh. I don't like going into the bank for transfers because they make me feel uncomfortable, and anyway I think the rates are not great.

I understand being American make moving money more difficult. Did you check if other exchange (bitkub?) accept American? They also have USDC and then you can cashout via Coinbase. I have no idea if it's pratical. I'm not American and don't send money outside Thailand. 

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5 hours ago, Tayaout said:

I understand being American make moving money more difficult. Did you check if other exchange (bitkub?) accept American? They also have USDC and then you can cashout via Coinbase. I have no idea if it's pratical. I'm not American and don't send money outside Thailand. 

Thanks for the suggestion. I haven't yet gone down the rabbit hole of cryptos, but it makes sense there'd be some combination that could get me there. The fees, fluctuations, and unsure tax consequences kind of scare me. That's why I liked this solution in that it simplifies the process. I thought I might even dabble a bit, once comfortable.

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1 hour ago, sanooki said:

Thanks for the suggestion. I haven't yet gone down the rabbit hole of cryptos, but it makes sense there'd be some combination that could get me there. The fees, fluctuations, and unsure tax consequences kind of scare me. That's why I liked this solution in that it simplifies the process. I thought I might even dabble a bit, once comfortable.

Coinbase has a dollar pegged stable coin (USDC) that they don't charge fees for conversion to USD.  Everex accepts deposits of USDC.  Otherwise you're quite correct, the fees alone in crypto add up quickly, nevermind the volatility in prices.

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8 hours ago, MartinsAlmeida said:

Well, I'd also want to know that, any answer?

It could but it's probably not what you want. You would have to buy USDC from your British bank account. Transferwise or similar is probably better in this case. Also using this service doesn't show as international transfer for visa purposes. This service is best for those who already have or use Bitcoin or similar currencies. 

Edited by Tayaout
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On 10/16/2019 at 7:24 AM, sanooki said:

Actually as of now, the service is very limited, as I mentioned above, in the US you need to be a resident of NJ. I am a long time resident of Thailand, and I do have a need to send money out, but the options in general are very limited. I have figured out a way other than direct wires from Thai banks, but it's convoluted and who knows how long it will continue. Kasikorn has a K+ app that has an international transfer option. I've tried to use it a few times, but it never works. Support only tells me to try it again, smh. I don't like going into the bank for transfers because they make me feel uncomfortable, and anyway I think the rates are not great.

I have had great success on the Krungsri Bank website sending funds to the USA, and for transfers from the USA to Thailand.  Perhaps you just need to change to a Foreigner friendly bank?

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On 9/25/2019 at 5:03 PM, mitos said:

That rate its a pretty much to loss. 

 

I been doing through transwerwise...where its higher rate than in Thai bank foreign exchange rate. 

I agree plus after you transfer your money from your home bank to your TransferWise acct you can let it sit until rates are more favorable. With the rates fluctuating as they do I might transfer money to my TW acct. when the exchange rate is 30.345. The money I transfer from my bank in the US arrives in my TW acct by the next day. I let it sit and watch the rates. Before rates had fallen so far I found that within 1 or 2 days the rate would increase by some. Then I would look at what the rates had been doing in the last week and if that increase to say 30.6 looks like it won't go higher I forward the money on to my BKK acct and that rate of 30.6 is locked usually for 48hours but sometimes only 36hrs but regardless you know what you are getting... Just my experience...

Just a for instance, I sent $1820 usd from my TW acct to BKK fee was $13.88

Before transferring from my home acct through ACH to BKK New York it cost $10 just for the deposit that didn't show up on any of you ledger statements, then you paid a foreign exchange fee of either 250 baht or 500 baht depending on amount sent. As a rule I paid around $24 all said and done...I am quite happy with TW...But may experiment with this option just to have it...

Edited by armadillo215
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On 10/15/2019 at 1:17 AM, Blue bruce said:

why is it that all these money transfer ads promote sending money into Thailand but cannot send money out of Thailand. I have never seen an ad promoting  money transfer out of Thailand. What am I missing here ????

Check DeeMoney....Easy, you can do on your mobile, relatively inexpensive and no gov. paperwork. You can send cash or transfer from your bank here to where ever...

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On 11/12/2019 at 11:56 AM, armadillo215 said:

Check DeeMoney....Easy, you can do on your mobile, relatively inexpensive and no gov. paperwork. You can send cash or transfer from your bank here to where ever...

Except it is too difficult to apply.  I am in Chiang Mai.  I did an online application and received an immediate email reply that someone would contact me within 24 hours to finalize the application.  72 hours later someone did but I was unable to answer the phone at that time.  I called back and was told they wanted me to go to Bangkok to complete the application!  I said no and was told someone would call me back within a week.  I am still waiting.

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On 11/18/2019 at 1:03 PM, AAArdvark said:

Except it is too difficult to apply.  I am in Chiang Mai.  I did an online application and received an immediate email reply that someone would contact me within 24 hours to finalize the application.  72 hours later someone did but I was unable to answer the phone at that time.  I called back and was told they wanted me to go to Bangkok to complete the application!  I said no and was told someone would call me back within a week.  I am still waiting.

Has DeeMoney reestablished it's service to the US and/or UK? I've used them, but the only Western country available to send to was Australia.

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On 10/16/2019 at 7:36 AM, Tayaout said:

I understand being American make moving money more difficult. Did you check if other exchange (bitkub?) accept American? They also have USDC and then you can cashout via Coinbase. I have no idea if it's pratical. I'm not American and don't send money outside Thailand. 

Bitkub does not accept Americans nor they have USDC. They have USDT/THB pair at 0.25% commission. So for transfers out of TH, the best way would be : 
1) Buy USDC from Everex for THB cash deposit or free local bank transfer; 
2) Move USDC to Coinbase
3) cash out USDC to US bank account via Coinbase. 

 

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On 10/31/2019 at 4:29 PM, possum1931 said:

So this doesn't apply to British Pounds?

We are testing GBP right now. Soon should be able to offer direct GBP <-> THB exchange in Thailand using Everex wallet. With FPS instant transfer in the UK (unlike slow SEPA for EUR), the whole process should be quite fast (max a few hours). Check the teaser at https://everex.io/eu/ 

Edited by Alexila
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10 hours ago, Alexila said:

Bitkub does not accept Americans nor they have USDC. They have USDT/THB pair at 0.25% commission. So for transfers out of TH, the best way would be : 
1) Buy USDC from Everex for THB cash deposit or free local bank transfer; 
2) Move USDC to Coinbase
3) cash out USDC to US bank account via Coinbase. 

 

But, American citizens cannot be everex customers.

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On 11/18/2019 at 1:03 PM, AAArdvark said:

Except it is too difficult to apply.  I am in Chiang Mai.  I did an online application and received an immediate email reply that someone would contact me within 24 hours to finalize the application.  72 hours later someone did but I was unable to answer the phone at that time.  I called back and was told they wanted me to go to Bangkok to complete the application!  I said no and was told someone would call me back within a week.  I am still waiting.

To bad...When I was checking into it before I applied I can't recall what the deal was But the girl I spke with had me send by Line a copy of my passport and something else and she set it all up for me gave me user/pass which I changed on my first log in and I've sent money from LOS to USAA twice now. You might call the Sukhumvit office and just ask them...They were really helpful to me....Good luck..

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On 9/27/2019 at 9:29 AM, sanooki said:

Hi, can anyone tell me if this service works in the opposite direction, to get funds out from here? I am a customer of Transferwise, and they don't. I have recently tried DeeMoney with convoluted and mixed results. There doesn't seem to be a convenient, reliable, and quick service outside of bank wires to send to a western bank from here.

Deemoney were okay when they first started out but the remittances started getting more and more delayed . They returned the money I tried to send telling me that their system is down. I think they've gone out of business. I now find the cheapest way to send money from Thailand to another country is money gram. Other companies make their money on the exchange rate their fees are immaterial. The most expensive is PayPal

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On 9/26/2019 at 2:17 PM, Swen said:

Just used Transferwise to transfer euro to baht. It took less than 10 seconds to get it into my Kasikorn bank. On top of that, a lot better rate than official bank rates.

Easy to use app.

Yes but you do pay a .08 transfer fee or almost 1 percent. So if you transfer 1000 USA dollars on transferwise then transferwise actually transfers 992 of your 1000 dollars into thai baht and keeps 8 USA dollars. For some transferwise makes sense. Much better than western union who is the worst option. 
 

For those of us that do it free with a Charles Schwab atm card and/or bring cash into Thailand and/or use a Capital One credit card that pays us 1.5 percent to make credit card charges ——transferwise is not cheap for us. 
 

For USA Americans Charles Schwab atm card and capital one credit cards are the best way to get baht for dollar. Or bring cash over in an airplane if you are visiting USA or Cambodia. 

Edited by Wake Up
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13 minutes ago, sanooki said:

Hi. Interesting post. Do either of these work as well going the other way: money back to the US from Thailand?

Yes but I think they don't accept US customers. 

 

Edit: I'm talking about Everex. 

Edited by Tayaout
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9 minutes ago, KhunFred said:

So Everex does NOT accept US customers???   What possible reason?  This is a real disappointment.

Fred, Have you visited the Everex site? ... or will you make decisions based on other's opinions?  By the way, if you were going to Exchange Fiat currencies from your bank account to their product "Stablecoins" ... why even bother?  Willing to be their spread, plus interest, plus hassles ... etc ... dwarf the ease of simply using PayPal, or a SWIFT direct transfer! They do have a customer chat section ... FYI

Edited by Guest
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  • 2 weeks later...
On 9/25/2019 at 5:03 PM, mitos said:

That rate its a pretty much to loss. 

 

I been doing through transwerwise...where its higher rate than in Thai bank foreign exchange rate. 

Yeah I’ll always stick with TransferWise never found a better one

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