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What is the best way to send very large sums of money overseas?


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1 hour ago, proton said:

Wise is for in not out

FYI..I used Wise for the 1st time last month to have my pensions from abroad sent to my Kbank account.Cheaper by 80% than using my own bank.

Easy to use and the transfer was completed in minutes as opposed to days.

I'll be using them for here on in.

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20 minutes ago, jaideedave said:

FYI..I used Wise for the 1st time last month to have my pensions from abroad sent to my Kbank account.Cheaper by 80% than using my own bank.

Easy to use and the transfer was completed in minutes as opposed to days.

I'll be using them for here on in.

But not from here on out????

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1 hour ago, bob smith said:

I think this is the way to go.

 

 

After checking some of the rates around I found Western Union to be the best so far but you can only do 250k at the time and max 800k a day charging a modest fees, so do your thinking.

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3 hours ago, ezzra said:

It has nothing to to do with legitimacy, my query is where to get the best rates.

I have heard various things about WISE real rates after fees, but have no problems using them

 

For 20 Mil baht primary concern would be security over a small change

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1 hour ago, bob smith said:

ive decided to invest my money in bitcoin as its the easiest and fastest way to potentially grow my money as well as transfer it.

 

thanks for the input!

don't forget to pay off all of the girls you got for free before you invest all of your money - 555

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1 hour ago, bob smith said:

ive decided to invest my money in bitcoin as its the easiest and fastest way to potentially grow my money as well as transfer it.

 

thanks for the input!

There, s your next topic. How to buy Bitcoin! 

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It is best to contact foreign banks that have branches here in Thailand and also in the destination country.

For example:

  • ABN AMRO.
  • BNP Paribas.
  • Calyon Corporate & Investment Bank.
  • Citibank Thailand.
  • Deutsche Bank.
  • Indian Overseas Bank.
  • JPMorgan Chase & Co.
  • Mizuho Corporate Bank

It may also be worth opening a foreign currency account in Thailand beforehand, i.e. exchanging the Thai baht in Thailand for US/Euro, etc. and then transferring the foreign currency. The exchange rates for Thai Baht are much worse in the destination countries.

 

Edited by tomacht8
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You ask best way to transfer a large sum of money? I went to my local Bangkok Bank to find out the procedures. For large sums I decided it was too much red tape. I was talking with a friend and he said since I have a Crypto account with Coinbase in the USA. Just take my money here and buy bitcoin through a Thailand Exchange. The second I buy it, I then can cash it out through my USA exchange. Last month I tried it and it worked perfect. It was so simple. 

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Open a Schwab one international account, you have to deposit $25,000 or the equivilant in stock to open one.  That's what I use.  I have sent $200,000 at a time using it.  There is a $15 fee but they instantly rebate mine back.  So the wire is free.

 

I have never had to explain where the money came from.  My bank here, SCB, calls me on transfers over $20,000.  They only want to know if it is for personal use or to purchase property.

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47 minutes ago, Crazy Noobie said:

You ask best way to transfer a large sum of money? I went to my local Bangkok Bank to find out the procedures. For large sums I decided it was too much red tape. I was talking with a friend and he said since I have a Crypto account with Coinbase in the USA. Just take my money here and buy bitcoin through a Thailand Exchange. The second I buy it, I then can cash it out through my USA exchange. Last month I tried it and it worked perfect. It was so simple. 

I take it your money is in a Thai bank account? Otherwise, how are you going to buy Kryptonite on Bitkub, for instance? In fact, you could just dump it in your wallet so long as you've done your KYC. But depositing millions of $ into your US account? No questions asked? I could be missing something here...

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