lanwithatz 0 Posted January 17 Share Posted January 17 I'm in the process of planing to building a home on my wife's land in Khon Kean. What is the best way to get the cash required to Thailand from the US. Ideally I'll be legal and avoid paying huge exchange fees. Or do you find that contractors are ok with USD? Quote Link to post Share on other sites More sharing options...
Ohyesuare 2068 Posted January 17 Share Posted January 17 Wise.com 1 Quote Link to post Share on other sites More sharing options...
Popular Post Celsius 3056 Posted January 17 Popular Post Share Posted January 17 I think it's a great idea 3 Quote Link to post Share on other sites More sharing options...
Stocky 6302 Posted January 17 Share Posted January 17 1 hour ago, lanwithatz said: What is the best way to get the cash required to Thailand from the US. 56 minutes ago, Ohyesuare said: Wise.com Wise isn't so good for USD transfers, above USD8 to 10k it's cheaper to use SWIFT from the US. The margin between buy and sell is so tight for USD it make it hard for Wise to be competitive. 2 Quote Link to post Share on other sites More sharing options...
Jerno 2873 Posted January 17 Share Posted January 17 Check out Xe.com......no extra fees, just the competitive exchange rate. 1 Quote Link to post Share on other sites More sharing options...
EVENKEEL 13987 Posted January 17 Share Posted January 17 You just missed the good exchange rate, 32.8 and dropping. If you have your US bank transfer the money to Thailand make sure they transfer US dollars and don't exchange money first. 2 Quote Link to post Share on other sites More sharing options...
lanwithatz 0 Posted January 17 Author Share Posted January 17 4 hours ago, Stocky said: Wise isn't so good for USD transfers, above USD8 to 10k it's cheaper to use SWIFT from the US. The margin between buy and sell is so tight for USD it make it hard for Wise to be competitive. Will I want to open up a Bangkok Bank or HSBC account while in the states? Will I be able to access my USD in those international banks while in Thailand you think? or will I have to SWIFT over still? Quote Link to post Share on other sites More sharing options...
nigelforbes 4879 Posted January 17 Share Posted January 17 1 minute ago, lanwithatz said: Will I want to open up a Bangkok Bank or HSBC account while in the states? Will I be able to access my USD in those international banks while in Thailand you think? or will I have to SWIFT over still? HSBC doesn't have a retail bank operation in Thailand. Bangkok Bank would be a good choice, they have a commercial branch in the US. I do not think you will be able to open an account with Bangkok Bank (BBL) in the US, that will need to done in Thailand. You will need to remit USD to your account in Thailand. Do not remit THB, it's far better to convert to THB in Thailand. Your bank in Thailand will convert the USD to THB automatically. Your transfer should be via SWIFT. 1 Quote Link to post Share on other sites More sharing options...
sometimewoodworker 5733 Posted January 17 Share Posted January 17 1 hour ago, lanwithatz said: Will I want to open up a Bangkok Bank or HSBC account while in the states? Will I be able to access my USD in those international banks while in Thailand you think? or will I have to SWIFT over still? You misunderstand the situation with banks. Bangkok Bank Thailand though it has correspondence with Bangkok Bank in the USA they are independent entities. It is the same with all other banks Citibank is another example the only advantage with having accounts in more than one country is that a reference from one country can make opening an account in another country easier. So bank A in one country is independent of bank A in other countries, there is little advantage in holding accounts in different countries with the same bank. You still have to do the same international transfer. You can’t however open a Bangkok bank account in the USA, as they don’t accept retail customers. 1 Quote Link to post Share on other sites More sharing options...
timendres 9762 Posted January 17 Share Posted January 17 18 minutes ago, sometimewoodworker said: Bangkok Bank Thailand though it has correspondence with Bangkok Bank in the USA they are independent entities. It is the same with all other banks Citibank is another example the only advantage with having accounts in more than one country is that a reference from one country can make opening an account in another country easier. The Bangkok Bank branch in New York is owned by Bangkok Bank. It is a branch. It is the same account with the same account number. When I deposit USD into my account in New York, it instantly appears in my account in THB. But you are correct that you still have the deal with the conversion from USD to THB, and in this case, you get the rate that BB applies. Bangkok Bank's web page about their New York branch. https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/Transfer-money-from-US-to-Thailand-via-Bangkok-Bank-NewYork-branch 1 Quote Link to post Share on other sites More sharing options...
nigelforbes 4879 Posted January 17 Share Posted January 17 7 hours ago, sometimewoodworker said: You misunderstand the situation with banks. Bangkok Bank Thailand though it has correspondence with Bangkok Bank in the USA they are independent entities. It is the same with all other banks Citibank is another example the only advantage with having accounts in more than one country is that a reference from one country can make opening an account in another country easier. So bank A in one country is independent of bank A in other countries, there is little advantage in holding accounts in different countries with the same bank. You still have to do the same international transfer. You can’t however open a Bangkok bank account in the USA, as they don’t accept retail customers. Bangkok Bank NY is a wholly owned branch of Bangkok Bank (BBL) Thailand, ditto Bangkok Bank London, they are both commercial branches that lack retail banking licenses. The issue you described about branches of names banks being different entities is true of big name overseas banks in Thailand. UOB is UOB (Thai) and apart from shareholding is unrelated to UOB Singapore. Ditto CIMB Thai, etc etc. Quote Link to post Share on other sites More sharing options...
Skipalongcassidy 1800 Posted January 17 Share Posted January 17 Go to Wise.com... use the comparative analysis tool that they provide to determine which money transfer company provides the best option for you... right now Moneygram is most favorable for USD to THB. Quote Link to post Share on other sites More sharing options...
sometimewoodworker 5733 Posted January 18 Share Posted January 18 3 hours ago, nigelforbes said: Bangkok Bank NY is a wholly owned branch of Bangkok Bank (BBL) Thailand, ditto Bangkok Bank London, they are both commercial branches that lack retail banking licenses. They may well be wholly owned by Bangkok Bank (BBL) Thailand, they are however licensed and regulated by 3 completely different different authorities, as are the Bangkok Banks in Japan and China, again regulated by the respective authorities. It is just possible that they are considered to be branches of BBL Thailand, but the regulations governing them make the independent entities. Otherwise how would the various boards such as FSCS be able to guarantee compensation to depositors if a bank is unable to meet its financial obligations, you can be assured that the governance bodies making those guarantees have anything but charitable intentions. Banks rather more than other companies keep the structures rather less open than others, so I would be interested to know where the exact information of the Bangkok Bank structuring of the companies under the umbrella name “Bangkok Bank” came from? Quote Link to post Share on other sites More sharing options...
Gottfrid 7803 Posted January 18 Share Posted January 18 (edited) Just ask your wife. She will have a million ways to get the money here. 😂 Edited January 18 by Gottfrid 1 Quote Link to post Share on other sites More sharing options...
nigelforbes 4879 Posted January 18 Share Posted January 18 1 hour ago, sometimewoodworker said: They may well be wholly owned by Bangkok Bank (BBL) Thailand, they are however licensed and regulated by 3 completely different different authorities, as are the Bangkok Banks in Japan and China, again regulated by the respective authorities. It is just possible that they are considered to be branches of BBL Thailand, but the regulations governing them make the independent entities. Otherwise how would the various boards such as FSCS be able to guarantee compensation to depositors if a bank is unable to meet its financial obligations, you can be assured that the governance bodies making those guarantees have anything but charitable intentions. Banks rather more than other companies keep the structures rather less open than others, so I would be interested to know where the exact information of the Bangkok Bank structuring of the companies under the umbrella name “Bangkok Bank” came from? It is hardly surprising that Bangkok Bank in the US is licensed and regulated by US authorities whilst Bangkok Bank Thailand is licensed and regulated by bodies within Thailand's borders. I can't perceive any bank in the world that operates in a different country, being regulated and licensed by any body other than the one they reside in! Quote Link to post Share on other sites More sharing options...
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