I usually use PayPal but their fees are getting a bit high so I'm researching whether or not it would be cheaper to wire funds over from a US based bank. Can anyone advise approximately what KBank charge for accepting a wire transfer of say US$1000?

 

Are there better alternatives other than Crypto?

Moving to the Banking forum. 

I use Kasikorn and I don't think there is a fee to receive per se, but the exchange rate they give is where I think the "fee" is obtained.

 

 

YMMV 

Wise up!

For many years I was transferring monthly amounts in EUR to my KBank account.  The difference between the published T/T exchange rate and what I received was typically between THB-800 and THB-1400 on amounts between 2000 and 6000.  The % difference declined the higher the amount transferred so it appeared to be a fixed amount + a variable.  I never bothered to investigate further.

Your bank would likely be charging a wire fee on the sending end. Check their fees page

1 hour ago, DumbFalang said:

Can anyone advise approximately what KBank charge for accepting a wire transfer of say US$1000?

KBank doesn't charge me anything for receiving a wire from the US. I send via Wise which costs about 6.4$ per 1000$ sent.

Use Wise

Full Interbank rates (no one else comes remotely close)

Low fees

No "landing" fee

Funds land typically in "seconds"

7 hours ago, Chivas said:

Use Wise

Full Interbank rates (no one else comes remotely close)

Low fees

No "landing" fee

Funds land typically in "seconds"

Quoting myself but am not sure what @ukrules see's funny in any of that !

Entirely accurate on all 4 points

More than happy to elaborate if required.....full forex rates/low fees/no landing fee/lands in seconds

 

Well that certainly applies for when I transfer from RBS in the uk to SCB

21 hours ago, 86Tiger said:

I use Kasikorn and I don't think there is a fee to receive per se, but the exchange rate they give is where I think the "fee" is obtained.

 

 

YMMV 

 

Kasikorn charge a fee for inward global receipts of .25%, there's a minimum charge of 200 Baht and a maximum charge of 500 Baht.

 

Wise isn't an inward global receipt so doesn't attract that fee.

 

 

Kas fees1.docx

Previous post says it all for Kbank receiving foreign currency.

For the overall cost this is usually only a small part.

There might be cost by your US bank and intermediate banks.

The other earner for Kbank (and other Thai banks) is the applied exchange rate (compared to money market rate).

 

As written above, consider using WISE. Setup account and minimize transfer cost.

https://wise.com/

32 minutes ago, KhunBENQ said:

Previous post says it all for Kbank receiving foreign currency.

For the overall cost this is usually only a small part.

There might be cost by your US bank and intermediate banks.

The other earner for Kbank (and other Thai banks) is the applied exchange rate (compared to money market rate).

 

Indeed, I used my UK based bank to send cash here. they charged me £20 to send the cash, I was then debited with a further £25 from an intermediary bank, with Kasikorn taking a further cut to receive it and, as you rightly say, the exchange rate wasn't too good.