Best way to transfer money to Thailand please?

[problemfarang]

Hi

im looking for a fast, easy and cheap way to transfer money to thai bank account (kasikorn or bangkok bank)

 

im aware that i can transfer money to the account directly from my account. it takes 2-3 days and also sender bank + middle bank + kasikorn or bangkok bank cuts almost half of the money. so im looking for another way

 

i also know about wise. but i think its only for USA? because it connects only usa bank account to wise mobile app i tihnk.. if not please let me know how to do.

 

bangkok bank mobile app also has western union / prompt pay international.. how fast is western union and cheaper than 3 bank cuts?

 

or please let me know if you know any other way.. 

 

thanks

[ukrules]

I use an international wire transfer (SWIFT), yes, it can take 2 to 3 days - but I've also had it arrive within 1 day

 

[problemfarang]

1 hour ago, ukrules said:

I use an international wire transfer (SWIFT), yes, it can take 2 to 3 days - but I've also had it arrive within 1 day

 

 

yes thats what im doing. but like i said there are lot of cuts. like almost half of the money gone

so im looking for another way

[Lacessit]

I use WISE for money transfers. I get the cross-rate, the fee WISE collects is less than a SWIFT transfer.

 

It sounds like the OP is the victim of Dynamic Currency Conversion, the polite term for currency theft by the banks concerned.

[ripstanley]

I have used Wise since about 2017. About 95% it is same day. I transferred today from Australia this morning and was in my bank at 1403. It was coded as a foreign transfer which I need for my extension of stay.

[ukrules]

22 minutes ago, problemfarang said:

 

yes thats what im doing. but like i said there are lot of cuts. like almost half of the money gone

so im looking for another way

 

You're doing something wrong then. Send USD directly to a the Thai bank, never send it as Baht - that will cost you a load.

Also it's only really worth it for at least a few thousand dollars. The more you send the better.

Suggest $3k per send and only do it in USD, if your bank in the US is charging insane fees for wires then change bank. The actual cost of doing a wire is just a few dollars and if you bank with a major bank there is generally no intermediary bank - it's direct from bank to bank,

For example Chase to Kasikorn - not going to be a problem

[norsurin]

24 minutes ago, ripstanley said:

I have used Wise since about 2017. About 95% it is same day. I transferred today from Australia this morning and was in my bank at 1403. It was coded as a foreign transfer which I need for my extension of stay.

I used Wise today to transfer money to kasikorn bank.It only took 6 seconds and the money was in the account.

Fastest i ever experienced.I transferred directly from my creditcard.

[problemfarang]

1 hour ago, Lacessit said:

I use WISE for money transfers. I get the cross-rate, the fee WISE collects is less than a SWIFT transfer.

 

It sounds like the OP is the victim of Dynamic Currency Conversion, the polite term for currency theft by the banks concerned.

 

 

1 hour ago, ripstanley said:

I have used Wise since about 2017. About 95% it is same day. I transferred today from Australia this morning and was in my bank at 1403. It was coded as a foreign transfer which I need for my extension of stay.

 

 

1 hour ago, ripstanley said:

I have used Wise since about 2017. About 95% it is same day. I transferred today from Australia this morning and was in my bank at 1403. It was coded as a foreign transfer which I need for my extension of stay.

 

have any leads for me?

Such as how to setup on mobile phone? Or how to transfer wise video?

 

I dont have bank account in america. Is it still possible to send money from not american country to thai account?

 

Thnx

[Free the 115]

4 minutes ago, problemfarang said:

 

I use UK banks. Use your phone to download the WISE app, and follow instructions 

 

 

 

have any leads for me?

Such as how to setup on mobile phone? Or how to transfer wise video?

 

I dont have bank account in america. Is it still possible to send money from not american country to thai account?

 

Thnx

 

[JakeC]

Countries and regions we don't support

There are some places where we don’t offer our services:

Afghanistan, Belarus, Burundi, Central African Republic, Chad, Congo, Democratic Republic of the Congo, Cuba, Eritrea, Iran, Iraq, North Korea, Libya, Myanmar, Somalia, Republic of South Sudan, Russia, Sudan, Syria, Yemen, Venezuela, and the Ukraine regions: Crimea, Donetsk, Luhansk, Kherson, Zaporizhzhia.

Restrictions

You can't: 

• send or receive money to or from these countries and regions

• log into your Wise account, register a new account, or use your Wise card if you’re in these countries and regions

If you use Wise from these countries

If you use Wise from a country or region where we don't operate:

• your account might get temporarily restricted

• your transfers and transactions might be cancelled and refunded without further notice

• our teams might reach out to you to collect additional information about your transfers — we might put your transfers on hold while we wait for and review this information

[Upnotover]

8 minutes ago, problemfarang said:

 

 

 

 

 

have any leads for me?

Such as how to setup on mobile phone? Or how to transfer wise video?

 

I dont have bank account in america. Is it still possible to send money from not american country to thai account?

 

Thnx

Wise is not a US thing.  Where are you?  Wise almost certainly operates there.  Go to their website.  So easy.

[CanadaSam]

Wise is not restricted to US bank accounts.  You can open a Wise account in many currencies, and many countries.  And it is 95% within seconds.

 

Normal swift bank accounts take a couple days.  Forget about Western Union, IMHO they are crooks.  Huge fees for both parties, and also terrible exchange rates, much time wasted at WU counters to collect funds, etc. etc.

[problemfarang]

46 minutes ago, JakeC said:

Countries and regions we don't support

There are some places where we don’t offer our services:

Afghanistan, Belarus, Burundi, Central African Republic, Chad, Congo, Democratic Republic of the Congo, Cuba, Eritrea, Iran, Iraq, North Korea, Libya, Myanmar, Somalia, Republic of South Sudan, Russia, Sudan, Syria, Yemen, Venezuela, and the Ukraine regions: Crimea, Donetsk, Luhansk, Kherson, Zaporizhzhia.

Restrictions

You can't: 

• send or receive money to or from these countries and regions

• log into your Wise account, register a new account, or use your Wise card if you’re in these countries and regions

If you use Wise from these countries

If you use Wise from a country or region where we don't operate:

• your account might get temporarily restricted

• your transfers and transactions might be cancelled and refunded without further notice

• our teams might reach out to you to collect additional information about your transfers — we might put your transfers on hold while we wait for and review this information

 

49 minutes ago, Free the 115 said:

 

 

46 minutes ago, Upnotover said:

Wise is not a US thing.  Where are you?  Wise almost certainly operates there.  Go to their website.  So easy.

 

26 minutes ago, CanadaSam said:

Wise is not restricted to US bank accounts.  You can open a Wise account in many currencies, and many countries.  And it is 95% within seconds.

 

Normal swift bank accounts take a couple days.  Forget about Western Union, IMHO they are crooks.  Huge fees for both parties, and also terrible exchange rates, much time wasted at WU counters to collect funds, etc. etc.

 

thank you

 

wise is downloaded.. it seems i cannot link my thai bank or any other bank but only american bank thats why i think its american thing. 

but seems i can send money via using debit or credit card (because cannot link my thai bank account) to a thai account.. is it true?

also it seems i can deposit some money into wise and send it..

 

[problemfarang]

52 minutes ago, Upnotover said:

Wise is not a US thing.  Where are you?  Wise almost certainly operates there.  Go to their website.  So easy.

 

im a volunteer fighter in ukraine for the last 2 yrs now.

but my family member from turkey will send some money from turkey to a thai bank account. he told me he cannot link his or my banks to wire because its only accepting american banks.

other way is to send via credit or debit card but he said asking passport and also documents to confirm your address. but i think thats because he said he opened an account in wise. can he still send to thailand without opening an account in wise?

he told me he came to the screen where he should enter the bank info but he didnt do anything before getting more info

thanks

[JakeC]

Wire is an American thing. European banks use SWIFT/IBAN etc Looks as if he's choosing the wrong option.

 

[Magictoad]

I use wise from my UK account 

[Magictoad]

48 minutes ago, problemfarang said:

 

 

 

 

thank you

 

wise is downloaded.. it seems i cannot link my thai bank or any other bank but only american bank thats why i think its american thing. 

but seems i can send money via using debit or credit card (because cannot link my thai bank account) to a thai account.. is it true?

also it seems i can deposit some money into wise and send it..

 

I use Wise formally Transferwise to move money between my UK & Thailand  accounts. It's fine. No problem. 

[gamb00ler]

3 hours ago, problemfarang said:

 

yes thats what im doing. but like i said there are lot of cuts. like almost half of the money gone

so im looking for another way

There is no way you're paying anywhere close to 50% in fees and poor exchange rates.  Try 5%... maybe.  Unless you're paying SWIFT fees for very small amounts.  How much do you typically want to transfer?

 

For small amounts WISE is probably best, for larger transfers SWIFT will be better.  I think WISE has upped it fees but about 4 years ago it was most cost effective for amounts under 22KUS$.  Above that amount SWIFT would be more efficient.

 

If you also have to pay fees from intermediary banks when transferring from USA, I would look for a better US based bank that doesn't require an intermediary bank for transfers to TH.

[problemfarang]

50 minutes ago, gamb00ler said:

There is no way you're paying anywhere close to 50% in fees and poor exchange rates.  Try 5%... maybe.  Unless you're paying SWIFT fees for very small amounts.  How much do you typically want to transfer?

 

For small amounts WISE is probably best, for larger transfers SWIFT will be better.  I think WISE has upped it fees but about 4 years ago it was most cost effective for amounts under 22KUS$.  Above that amount SWIFT would be more efficient.

 

If you also have to pay fees from intermediary banks when transferring from USA, I would look for a better US based bank that doesn't require an intermediary bank for transfers to TH.

 

well last time transfered 100usd got 3120 baht to kasikorn took 2 days

3 days later same amount this time kasikorn told me they got oly 64usd so i got 1810 baht.. sender and kasikorn has no idea what happened to 36usd?! they both blaming each other or the middle banks

but cannot explain why first time got 3k baht but now half of it

 

another time 400 usd should be around 8400 baht got 7200 baht

[Upnotover]

1 hour ago, problemfarang said:

 

 

 

 

thank you

 

wise is downloaded.. it seems i cannot link my thai bank or any other bank but only american bank thats why i think its american thing. 

but seems i can send money via using debit or credit card (because cannot link my thai bank account) to a thai account.. is it true?

also it seems i can deposit some money into wise and send it..

 

No you cannot connect a Thai bank account.  Where are you telling it you live/have residence?  You will need to prove your residency in that country to set it up.

[problemfarang]

Thanks all

I think my brother will use western union to send kasikorn bank account

 

But i was wondering.. can he send turkish lira or usd better?

 

Because turkish lira has no currency change in kasikorn. Or western union doesnt care it and it will change it?

[gamb00ler]

1 hour ago, problemfarang said:

 

well last time transfered 100usd got 3120 baht to kasikorn took 2 days

3 days later same amount this time kasikorn told me they got oly 64usd so i got 1810 baht.. sender and kasikorn has no idea what happened to 36usd?! they both blaming each other or the middle banks

but cannot explain why first time got 3k baht but now half of it

 

another time 400 usd should be around 8400 baht got 7200 baht

OK... don't use SWIFT for such small amounts.  The fees are not a percentage, they're a fixed dollar amount and for small transfers are way too high.  Use WISE.