Options to send Money from USA to Thailand

[Thailaw]

I need to send money from my account at BoA in the USA to my account at Bangkok Bank here in Thailand. Previously, I have sent money to Bangkok Bank's NY Branch via ACH transfer, which is then sent internally within BKK Bank to my account in Thailand. That option may no longer be available. I have read that Transfer Wise may be a good and low cost option. I have never used Transfer Wise, but I have no problem with it if it is safe and relatively easy to set up using a BoA account or credit card. Can someone tell me, based on personal experience, what options are presently available for transferring money from the USA to Thailand and which of the available options is reliable and lowest cost. Thanks a lot for help on this. 

[Pib]

Many Thaivisa posts/threads have discussed this in depth.  Transferwise works just fine...it's safe.  I personally have a Transferwise acct...so does the wife.  Many US folks use Transferwise for transfers to Thailand.

[Thailaw]

54 minutes ago, Pib said:

Many Thaivisa posts/threads have discussed this in depth.  Transferwise works just fine...it's safe.  I personally have a Transferwise acct...so does the wife.  Many US folks use Transferwise for transfers to Thailand.

Thanks. I am sure that the topic has been discussed, but the Thai visa search engine is so bad I cannot find the relevant threads -- I have even posted in 1 such thread, as have you (probably many times). Is the transfer through BBK BK NY using ACH still available? Is Transferwise cheaper than bank-to-bank (i.e., do you get more total Baht for a given amount of Dollars)?  Is the Transferwise account relatively easy to set up? Does it require a credit card? Thanks for your help/insights.  

[Pib]

Do a google search "not within" the Thaivisa webpage....like just startup your browser and begin a search  Search along the lines of "transferwise thaivisa" which will cause google to search for Transferwise related topics/posts with ThaiVisa.   I did such and came up with below l....o.....n.....g list of Transferwise threads/posts.    It's really been talked to death.

 

https://www.google.com/search?q=transferwise+thailvisa+site:forum.thaivisa.com&rlz=1C1CHBF_enTH776TH776&sxsrf=ALeKk02yBss7dXeR9IbdqsiupXFgeulEpA:1593226598622&sa=X&ved=2ahUKEwjlk9TL_6DqAhWs7XMBHY_7DWMQrQIoBDAJegQIBBAP&biw=1366&bih=625

[landosmiles]

The other major option is a wire transfer. It has fixed fees, so it may not be the best option for smaller amounts. Otherwise, you can compare the exchange rates. With larger transfers, banks may offer you a better rate upon receipt - but it can't be determined in advance. 

 

http://google.com/search?q=transferwise+site:thaivisa.com

Edited June 27, 2020 by landosmiles

[bkk6060]

I always do a wire transfer.

Chase bank 25 bucks.

Next day it is in my Bangkok B account.

[lopburi3]

As mentioned SWIFT (wire transfer) is a solid option for larger amounts, if you transfer USD, but for normal monthly transfers the higher exchange rate of Transferwise will normally be best.  Once set up Transferwise works easy online and you know exactly what will be received in baht before you make transaction.  No credit card is needed and normally they just pull from your bank account (set up involves log on to account for easy set up - otherwise believe deposits have to be confirmed).  Good records are available at any time for download.  

[bubba1]

I used to use the Bangkok Bank ACH option. Last week tried transferwise for the first time. Registration seemed easy. They finally debited my US bank account this morning and the status on the transferwise app is 'We're running some checks' and the estimated date is next week. This happen to anyone else the first time?

[lopburi3]

If they pull from your bank account they do have to wait for the money and it can vary in time - I requested a transfer on Sunday and they estimated payment on day 1 but got money yesterday so should arrive today at normal 1400 deposit time.  Has been long time since set up account but as I recall confirmed ownership by signing on to account in special financial window banks use for that and do not recall any delay later.  I do not have a Transferwise bank account, just use for transfers.  Also believe next weekend here is a 4 day holiday so that might also effect time required if first longer than normal.

[Pib]

11 hours ago, bubba1 said:

I used to use the Bangkok Bank ACH option. Last week tried transferwise for the first time. Registration seemed easy. They finally debited my US bank account this morning and the status on the transferwise app is 'We're running some checks' and the estimated date is next week. This happen to anyone else the first time?

Sounds like as a new member they are running verification checks on your registration....or have questions regarding your funding source.  The Transferwise website says somewhere (or use to) that your first transfer may take longer than normal for new members.   Also keep in mind that when using the Bank Debit (ACH) method how fast the funds show up as being debited from your bank acct is also partially determined by your bank....and ACH transfers are a business day Mon-Frid type of affair....weekends are dead time.

 

https://transferwise.com/help/16/status-of-your-transfer/2977963/how-long-will-extra-checks-on-my-transfer-take

 

 

Edited June 30, 2020 by Pib