How to affordably transfer money bank-to-bank from Thailand to USA

[bangkokgalaxy]

I have an account at Bangkok Bank. I need to transfer 100k Baht to my US Bank. The problem is that nobody

at Bangkok Bank can tell me the total transfer fees and how much will I actually receive at my US bank once the

transfer is completed.

I completed a 'test' transfer where I sent 3300 Baht from Bangkok Bank mobile app to my US bank (this included

a 300 baht bank fee to BK bank). A few days later, my money arrived at my US Bank which showed "Burger King Deposit"

of $81.92 USD (which means another middle man is taking a fee)

 

I inquired about this at Bangkok Bank and they can't say what the "burger king" fee was for, or if I transfer a larger

amount if mysterious middle-man fees will take a large percentage of any large transfer (i.e. 100k baht).

 

Does anyone know 1) how to transfer money with a transparent (and accountable) fee structure?

and, 2) is there a better way to make Thai Bank-to-US Bank transfers where there are no surprise fees?

I can not use a service like Western Union because they only transfer to individuals, not banks.

 

Any ideas out there?

 

Thanks in advance.

[CharlieKo]

Try Dee Money!

 

https://www.deemoney.com/

[Liverpool Lou]

2 hours ago, bangkokgalaxy said:

2) is there a better way to make Thai Bank-to-US Bank transfers where there are no surprise fees?

Do a SWIFT transfer from the branch, opt for "all charges to be paid by the sender" and instruct that the received amount has to be whatever you want your US account to receive in dollars.  The Thai account will then be debited with the full cost.

[mania]

I have never heard of such a middle man & have transferred millions of baht out of Thailand using Bangkok Bank. But I never used the mobile app. Instead I go into the bank. I was sending max of 1.5 million per time & charge was roughly $30/1000thb (although this was  couple years ago now)

 

You may also want to check your receiving bank

Is it a major bank or a credit union etc? Some smaller institutions do not receive directly but go thru another bank & that could also have a fee

[Skipalongcassidy]

Going thru Bangkok Bank or any bank is the most expensive way to transfer money... not only in the amount of fees but also in exchange rate differential... Deemoney is the best... Western Union next best... Swift least.

[DFPhuket]

You should look at Dee Money. Although I've not used it for four years, while I was working in Thailand (I'm now retired and send money the other direction with Wise) I used it many times to send money to my US bank. It was reliable, quick, and had much lower fees than a bank to bank transfer. 

[orang37]

good information here ... thanks.

 

could i use dee money to send payment to a private person in the us or asia ?

[zzzzz]

1 hour ago, orang37 said:

good information here ... thanks.

 

could i use dee money to send payment to a private person in the us or asia ?

yes, i use it to transfer to my citibank account

[LikeItHot]

Deemoney first choice.  In a pinch I used the International transfer on my BBK bank app because Wise would not transfer to my Italian attorney.  Always good to have options.

[jcmj]

I have always used Wise. Everything is transparent and I get good rates. What makes Dee money better ?

[Unify]

4 hours ago, jcmj said:

I have always used Wise. Everything is transparent and I get good rates. What makes Dee money better ?

What makes Dee money better in this instance is that Wise doesn't transfer to the US from Thailand -- only to Thailand from the US. 

[bradiston]

4 hours ago, jcmj said:

I have always used Wise. Everything is transparent and I get good rates. What makes Dee money better ?

Wise doesn't handle THB. You have to use Dee.

[Gecko]

On 7/8/2023 at 7:41 PM, CharlieKo said:

Try Dee Money!

 

https://www.deemoney.com/

You have to go to deemoney in Bangkok in person to open an account, right?

[bradiston]

1 hour ago, Gecko said:

You have to go to deemoney in Bangkok in person to open an account, right?

No, you do it online.

[zzzzz]

8 hours ago, Gecko said:

You have to go to deemoney in Bangkok in person to open an account, right?

NO; I opened an account via email and sending docs>

[Sigma6]

On 7/9/2023 at 1:22 AM, Skipalongcassidy said:

Going thru Bangkok Bank or any bank is the most expensive way to transfer money... not only in the amount of fees but also in exchange rate differential... Deemoney is the best... Western Union next best... Swift least.

Western union has been terrible whenever I've compared rates - are you taking into account the exchange rate also?

[Skipalongcassidy]

18 hours ago, Sigma6 said:

Western union has been terrible whenever I've compared rates - are you taking into account the exchange rate also?

Yes... compare your bank's exchange rate and fees... your bank will always be the most advantageous to the bank.