How to transfer money out of a Thai Bank to a US Bank?

[wasabi]

I have never needed to transfer funds from Thailand to the United States but I was surprised to see wise.com only allows you to transfer money from the US (and other countries) into Thailand. I could do a wire transfer from my Bangkok Bank account to one of my US Banks but the exchange rate would be poor which becomes problematic for large transfers. What do people with Thai Baht use to transfer larger amounts (500,000 THB and up) from Thailand to a US bank?

 

There are likely already threads discussing this but I could not find them.

 

 

[sanuk711]

I dont think its "Wise" thats the problem--- country/Banking  restrictions. 

 

 

 

That amount you would need an FTT paper.

 

 

Edited June 13, 2022 by sanuk711

[DaLa]

Kasikorn, however make it less than 1 million or it's a Spanish Inquisition. Reasonable rates.  Or take cash, better rates at SuperRich.

[Liverpool Lou]

Dee Money.

[proton]

13 minutes ago, Liverpool Lou said:

Dee Money.

Yes but if they can do it why not wise? I dont think Dee money is a Thai owned company

[Liverpool Lou]

Just now, proton said:

15 minutes ago, Liverpool Lou said:

Dee Money.

Yes but if they can do it why not wise? I dont think Dee money is a Thai owned company

"...if they can do it why not wise?"

I don't know, ask Wise! 

 

"I dont think Dee money is a Thai owned company".

I'm sure that's not correct regarding the company that is licenced, but what would the ownership of Dee Money have to do with it?

[DrJoy]

44 minutes ago, wasabi said:

What do people with Thai Baht use to transfer larger amounts (500,000 THB and up) from Thailand to a US bank?

I use Kasikorn Bank application, it allows 49,999 USD per day.

Charge - THB 250 flat

[smutcakes]

I just transfer 500K per day on my krungsri online. No idea on the exchange rate or fees, but its damn easy to do and no questions.

[Brick Top]

I transferred out 850,000 back to the UK last month using the SCB app . It was very simple and no paperwork required , I checked the rate with Dmoney who i also use to transfer funds out of Thailand and SCB were much better which really surprised me. The SCB app allows you to transfer up to 5 Million baht out if Thailand every month and do not require you to show an FET certificate. Things have changed over the past few years , I remember about 5 years ago I tried to send some funds back to the UK and it took a few weeks and several trips to the bank and i had to prove i originally had bought those funds into Thailand by showing FET certificates but even then they required many other documents. 

 

By the way , Wise can not transfer funds out of Thailand , i do however use them for transferring funds into to Thailand.

 

[keithcresswell]

1 hour ago, Brick Top said:

I transferred out 850,000 back to the UK last month using the SCB app . It was very simple and no paperwork required , I checked the rate with Dmoney who i also use to transfer funds out of Thailand and SCB were much better which really surprised me. The SCB app allows you to transfer up to 5 Million baht out if Thailand every month and do not require you to show an FET certificate. Things have changed over the past few years , I remember about 5 years ago I tried to send some funds back to the UK and it took a few weeks and several trips to the bank and i had to prove i originally had bought those funds into Thailand by showing FET certificates but even then they required many other documents. 

 

By the way , Wise can not transfer funds out of Thailand , i do however use them for transferring funds into to Thailand.

 

That option sounded good for me but the app says the recipients name must be different to the senders. 

[zzzzz]

I'd just use swift transfer from scb to US Citibank.   no problem

have also used dee money to send $$ to the states
https://www.deemoney.com/

Edited June 13, 2022 by zzzzz

[timendres]

17 hours ago, wasabi said:

I could do a wire transfer from my Bangkok Bank account to one of my US Banks but the exchange rate would be poor which becomes problematic for large transfers.

I have wired money to the US using both Bangkok Bank and Kasikorn Bank.

Every transfer was within 20 basis points of the spot exchange at the time I did the transfer.

[LikeItHot]

I used my BKK app to wire to my lawyer in Italy recently when Wise refused to send to him specifically (they refused to specify why). Presumably a US transfer would be as smooth.  Fee was about 1000 baht same as in person at the bank.

[Kenneth White]

I fill out a form with all the banking information for both Thai and US banks. I submit the form to the teller. It takes about 15-20 minutes and I am done and on my way. Although its not large amounts of money, I do this every month. Also, I asked what the baht limit is for a money transfer. I believe the bank quoted me up to 100,000 baht, but that was several years ago. The process is simple fast and easy. 

 

I would never use a third party to transfer money, to risky.

Edited June 13, 2022 by Kenneth White

[Brick Top]

16 hours ago, keithcresswell said:

That option sounded good for me but the app says the recipients name must be different to the senders. 

That's strange , because I sent funds directly to my myself from my SCB account in my name to my UK bank in my exact same name. 

[wasabi]

In the past Thai Banks have given me very poor exchange rates from THB to USD in small amounts. Perhaps that has changed and I should take a look at the BKK BANK app or website. Thank you.

[keithcresswell]

3 hours ago, Brick Top said:

That's strange , because I sent funds directly to my myself from my SCB account in my name to my UK bank in my exact same name. 

That's what I wanted to hear. So I think I will give it a try. Thanks.

[Brick Top]

[DrJoy]

On 6/13/2022 at 5:07 PM, keithcresswell said:

That option sounded good for me but the app says the recipients name must be different to the senders. 

Never a problem with Kasikorn.

 

In the reason for transfer select -

 

Repatriation of Earnings-Foreigners

[fusion58]

I’ve done it once since I’ve lived in Thailand. Note: I had to go through three different Bangkok Bank branches before I found an employee at the Emqartier branch who knew how to do an international wire transfer and who didn’t give me the usual BS stories about why “you cannot.” 

[zzzzz]

I have done multiple swift transfers over the years out of my SCB to my US Citibank ( and back)  from the comfort of my own home with my laptop