Sending Money From Bangkok Bank To USA

[shortstop2]

I'm considering transferring money from Bangkok Bank to my Fidelity Brokerage in the USA.  It seems pretty easy, the fees are low, and the TT Selling Rate, while not great, looks reasonable enough for an approx 100K THB transfer.   

 

https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Out-of-Thailand/IFT-mB

 

For those who have used Bangkok Bank for sending money are there any surprises lurking or anything that I should be aware of?

[ianguygil]

On 7/3/2023 at 10:46 PM, shortstop2 said:

I'm considering transferring money from Bangkok Bank to my Fidelity Brokerage in the USA.  It seems pretty easy, the fees are low, and the TT Selling Rate, while not great, looks reasonable enough for an approx 100K THB transfer.   

 

https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Out-of-Thailand/IFT-mB

 

For those who have used Bangkok Bank for sending money are there any surprises lurking or anything that I should be aware of?

I do this myself a couple of times a year. It is smooth - just make sure that your bank details in the USA are right. If you are sending a large amount at any point it is worth asking for a special rate, but 100K THB will get the street rate which is good. 

 

I always tell people to simply divide the currency you purchased by the currency you sell to see the true rate. Other services can be deceptive hiding fees, commissions and spreads. Also you need to consider the credit worthiness of the company you are using to send your money. With us sending via SWIFT this is not an issue. 

 

PM me if you have any problem 

[shortstop2]

On 7/9/2023 at 5:14 PM, ianguygil said:

just make sure that your bank details in the USA are right

Sending a Swift to Fidelity isn't too straightforward and my money got sent back.  But I got it right the second time using the app.

 

For those who are sending money to their Fidelity Brokerage account you are not the Beneficiary.  National Financial Services LLC is the Beneficiary and their address is 499 Washington Blvd, Jersey City, NJ 0310 but the address probably doesn't matter.  Their account number is  066196-221.  In the comments area put FBO (your name) FFC (your Fidelity account number which probably begins with a Z or X followed by 8 digits.

 

Choose the JP Morgan Chase from the drop down menu that has the Swift code CHASUS33.  Their Fedwire number is 021000021.

 

https://www.fidelity.com/cash-management/information-needed-wire-to-fidelity-account