Receiving monies in Thailand

[truthfix]

Hi Guys

 

I've been looking into different ways to receive funds and well the cheapest that doesn't hurt your pocket to much especially with the state of the current UK GBP. Previously I've used ATM machines but then am paying a charge to my UK bank and an additional charge for using the Thai ATM. So have been looking for alternative routes that might be advantageous such as 'currencyfair' suggesting that you use them depositing an amount via bank transfer but I'm thinking you need a Thai bank account to receive. Hmmm It's all VERY time consuming to research it all. Can anybody advise of a tested route that might be of benefit. Any assistance will be gratefully appreciated.

[Nyezhov]

TransferWise has a world debit card it's very handy

[thinkingman]

Paypal Xoom, allows deposit at about any Thai bank or pickup cash in Thai bank branches.  Cost looks to be Bt1 per dollar, more or less. I would not link any service to my US bank account without being sure. Best method still Swift bank transfer to a Thai account.  I only use Xoom for sending small amounts, wire for larger ones.  Cost in US for a Swift wire transfer is $45.  I seem to get true exchange rate on deposit to SCB.

[gk10002000]

some financial institutions have no ATM fees.  That could be step 1 if you plan to continue using ATM transfers.

[Puchaiyank]

Ditto Transferwise...easy to setup...good exchange rate...charge about .01% to do the transfer and average 2 day service from the time you request the transfer until you recieve your money...????

[gk10002000]

9 minutes ago, Puchaiyank said:

Ditto Transferwise...easy to setup...good exchange rate...charge about .01% to do the transfer and average 2 day service from the time you request the transfer until you recieve your money...????

And depending on the reason for the transfer and the need or not the need to show foreign transfer in, be aware of some of the other posts on this site.

[jacko45k]

A good start would be to get a Thai bank account.

[CharlieH]

Not visa related, 

 

MOVED to finance/banking

[truthfix]

18 hours ago, jacko45k said:

A good start would be to get a Thai bank account.

As far as I'm aware being a 'tourist' I can't get a Thai bank account?

[scubascuba3]

As far as I'm aware being a 'tourist' I can't get a Thai bank account?

Which threads told you that?

[jacko45k]

2 hours ago, truthfix said:

As far as I'm aware being a 'tourist' I can't get a Thai bank account?

If you are a tourist, you could bring cash each trip.

I must admit I received a new Debit/ATM card recently and decided to test it here in Thailand, certainly not a cheap way to get money over. 

 

Some people seem to achieve bank accounts here on tourist visas, you may need a residence letter and be selective. 

Edited August 27, 2019 by jacko45k