Best way to transfer money out of Thailand ?

[KhunHeineken]

17 minutes ago, bravo19 said:

It is not possible to add a Thai account or Thai debit or credit card to my Wise account!

WISE have their own Visa card. 

 

 

[topt]

21 hours ago, Mike Lister said:

Yes you can but you may have to give advance notice in order for them to collect the amount from their branches and this could take time, depending on the amounts involved..

Yes and they will charge you 2% - minimum 500 baht with no maximum

https://www.bangkokbank.com/-/media/files/personal/other-services/view-rates/table5/feesfcd_table5_20feb2024_en.pdf

 

Depending on the amount I would suggest that @Barry864 works out which will be the cheapest for him after all the fees based on the amount - and it may well be simply SWIFTing it which should also be the least complicated.

[treetops]

18 hours ago, Mike Lister said:

Wise does not transfer money out of Thailand, end of.

But the banks do and that is what happens when you use your Thai bank card details to fund a Wise transaction.

 

11 hours ago, bravo19 said:

It is not possible to add a Thai account or Thai debit or credit card to my Wise account!

No need to add it even if the guy who reported on it said his was added.  Just use the 16 digit card number, expiry date and CVV when you make the payment.

 

 

Look, I know the "you can't send baht out of Thailand" story was widely told and most folk just took it as gospel.  Then Dee Money turned up and all of a sudden everything changed to "you can't send baht out of Thailand unless you use Dee Money".

 

Well the banks always could even if they made it difficult at times and this is what happens here apparently.  I haven't done it but a couple of guys allegedly have as recently as February this year.  I don't stand to gain anything by reporting it so anyone should feel free to try it out and if it works it's cost you a few baht in fees but you can confirm it works, or come back here and call me a dolt if it doesn't but please let me know where the process breaks down as it rings true to me.

[AsiaTraveler1234]

On 6/14/2024 at 8:38 AM, novacova said:

For transferring funds outside of TH? How I wonder?

Didnt realize Wise had issues in Thailand. I've used it successfully and without issue in so many countries that I just assumed it would apply to Thailand, too, since THB is a currency handled by Wise.

 

From reading the other comments, at least it seems to work for inbound transfers to Thailand.

 

It is noteworthy how greedy Thailand is when it comes to fees surrounding foreign money transfers. ATM fees here are ridiculous (none in Malaysia).

 

Malaysia seems much more advanced and is actually my preference for a place to live while nearby Thailand remains ideal for nightlife.

 

[novacova]

3 minutes ago, AsiaTraveler1234 said:

Didnt realize Wise had issues in Thailand. I've used it successfully and without issue in so many countries that I just assumed it would apply to Thailand, too, since THB is a currency handled by Wise.

 

From reading the other comments, at least it seems to work for inbound transfers to Thailand.

 

It is noteworthy how greedy Thailand is when it comes to fees surrounding foreign money transfers. ATM fees here are ridiculous (none in Malaysia).

 

Malaysia seems much more advanced and is actually my preference for a place to live while nearby Thailand remains ideal for nightlife.

 

I’ve tried every-which-way to do a wise transfer from TH to my US bank, no can do. My k-bank acc offers swift transfer globally, though haven’t looked into it yet. 

[Mike Lister]

2 hours ago, treetops said:

But the banks do and that is what happens when you use your Thai bank card details to fund a Wise transaction.

 

No need to add it even if the guy who reported on it said his was added.  Just use the 16 digit card number, expiry date and CVV when you make the payment.

 

 

Look, I know the "you can't send baht out of Thailand" story was widely told and most folk just took it as gospel.  Then Dee Money turned up and all of a sudden everything changed to "you can't send baht out of Thailand unless you use Dee Money".

 

Well the banks always could even if they made it difficult at times and this is what happens here apparently.  I haven't done it but a couple of guys allegedly have as recently as February this year.  I don't stand to gain anything by reporting it so anyone should feel free to try it out and if it works it's cost you a few baht in fees but you can confirm it works, or come back here and call me a dolt if it doesn't but please let me know where the process breaks down as it rings true to me.

Stop it!

 

1) THB is a restricted currency, it is not freely convertible.  BOT rules prohibit the export of Baht overseas, except within a few very clearly defined scenario's.

 

"Thai Currency 

       Tourists may bring with them no more than 50,000 baht per person, but exporters to countries bordering Thailand, namely Cambodia, Laos, Myanmar, Malaysia, Vietnam, and Yunnan province of China are allowed to hold up to 2,000,000 baht per time.

       But if the amount exceeds 450,000 baht, the currency must be declared to the customs officer while passing through Customs. If a person wants to take Thai currency out of the Kingdom of more value than the legal requirement, there must be a permission from the Bank of Thailand, and the evidence of permission from the Bank of Thailand must be presented to the customs officer at the international airport when leaving the country.

       In the case of bringing money into the country, individuals and tourists may bring in Thai currency with no limit".

 

https://thailand.go.th/issue-focus-detail/009-010

 

 

[treetops]

34 minutes ago, Mike Lister said:

Stop it!

Get off your high horse and go try and fund a Wise transfer from EUR or USD or GBP to another of these currencies (whichever you have an account in) and fund it with a Thai debit card from the screen in my screenshot upthread and tell us what the result is.

 

If it fails let us know where and why.

 

It's nothing about exporting baht it's about overseas spending which I'm sure you know is possible with a Thai bank card.

[Mike Lister]

27 minutes ago, treetops said:

Get off your high horse and go try and fund a Wise transfer from EUR or USD or GBP to another of these currencies (whichever you have an account in) and fund it with a Thai debit card from the screen in my screenshot upthread and tell us what the result is.

 

If it fails let us know where and why.

 

It's nothing about exporting baht it's about overseas spending which I'm sure you know is possible with a Thai bank card.

You wrote:

 

"Look, I know the "you can't send baht out of Thailand" story was widely told and most folk just took it as gospel.  Then Dee Money turned up and all of a sudden everything changed to "you can't send baht out of Thailand unless you use Dee Money".

 

Well the banks always could even if they made it difficult at times and this is what happens here apparently.  I haven't done it but a couple of guys allegedly have as recently as February this year.  I don't stand to gain anything by reporting it so anyone should feel free to try it out and if it works it's cost you a few baht in fees but you can confirm it works, or come back here and call me a dolt if it doesn't but please let me know where the process breaks down as it rings true to me".

 

You are wrong, plain and simple, BOT rules are very clear on this point.

 

And, "You can’t currently send money from THB". 

 

https://wise.com/help/articles/2932335/guide-to-thb-transfers

 

[Mavideol]

On 6/14/2024 at 1:38 PM, bravo19 said:

Absolut not possible!

spoke with wise and asked about my options. and they said exactly that, Not possible but unfortunately some keep pushing incorrect information. Same happened last year when I said the BKBK would be double charging for converting USD to THB and back, but many kept giving incorrect information, I gave up on the post, very hard to transfer foreign currency out of here

[Mike Lister]

Just now, Mavideol said:

spoke with wise and asked about my options. and they said exactly that, Not possible but unfortunately some keep pushing incorrect information. Same happened last year when I said the BKBK would be double charging for converting USD to THB and back, but many kept giving incorrect information, I gave up on the post, very hard to transfer foreign currency out of here

Amen, finally.

[Mavideol]

6 minutes ago, Mike Lister said:

Amen, finally.

agree, unfortunately still have a lot of misleading information and that should be checked and removed, Wise was very clear on their explanation, they can answered by email if necessary, I decided to call

[cdnvic]

As this topic has a lot of information that is apparently incorrect, I'm going to close it and hopefully knowledgeable people can start a new one, with citations from reliable sources.