How I Do Bring The Money

[shasta]

Hello,

I am planning to move to Thailand soon and I would like to know how I can transfer/bring my money.

I know the easiest and fastest way to send money is via wire from bank to bank but I am outside of Thailand now and I don't have Thai bank account yet. Since it's large amount, I don't think travellers checks are very practical.

Should I make a chashier's check and cash it out once I arrive in Thailand? Do Thai banks exchange foreign (U.S.) issued cashier's checks? If they do, how much do they usually charge and how long does it take for transaction? Will I get poor rate for doing this?

Is there any way that I can open Thai bank account in U.S.? If there is better option, please let me know. Sorry to ask you too many questions. Any info would be appreciated.

[backflip]

Search the forums. This question has been asked and asnsered many times.

[LivinLOS]

Why not come, open bank account, and then send it ??

I mean your bank answers the phone no ??

[Chang_paarp]

Having read some of the previous threads on this topic, you will realise that the general advise is to leave your money in a stable economy and bring to Thailand what you need as you need it. The reasons are many and varied, but they include;

• This gives you an exit strategy should you need one in the future.
  
• Banks in Thailand are long on paperwork and short on responsibility, if they stuff up it is your problem.
  
• You will get better interest in almost any other country than as a foreigner in Thailand.
  

As was said in the posts above set up the ability to transfer with your current bank, pending your advising them of the destination account. Ask what information they will need to ensure it goes to the correct place and get this from the bank here. For a start send a small amount to your Thai bank to see how long it takes to arrive and make sure it does arrive, then send larger amounts as you require them. In the mean time your money is sitting in a US bank with US banking regulations to cover it, earning interest. OK the US is doing its best to lose it's place at the top of the financial tree, but it still a lot more secure than in almost any bank in Thailand.

There are other relatively stable economies in the Asia Pacific reigon if you would rather move you money out of the US, most are foreigner friendly if you wave enough money under their noses.

In the mean time live on an ATM card or credit card and transfer only what you need when you need it.

[shasta]

Having read some of the previous threads on this topic, you will realise that the general advise is to leave your money in a stable economy and bring to Thailand what you need as you need it. The reasons are many and varied, but they include;

• This gives you an exit strategy should you need one in the future.
  
• Banks in Thailand are long on paperwork and short on responsibility, if they stuff up it is your problem.
  
• You will get better interest in almost any other country than as a foreigner in Thailand.
  

As was said in the posts above set up the ability to transfer with your current bank, pending your advising them of the destination account. Ask what information they will need to ensure it goes to the correct place and get this from the bank here. For a start send a small amount to your Thai bank to see how long it takes to arrive and make sure it does arrive, then send larger amounts as you require them. In the mean time your money is sitting in a US bank with US banking regulations to cover it, earning interest. OK the US is doing its best to lose it's place at the top of the financial tree, but it still a lot more secure than in almost any bank in Thailand.

There are other relatively stable economies in the Asia Pacific reigon if you would rather move you money out of the US, most are foreigner friendly if you wave enough money under their noses.

In the mean time live on an ATM card or credit card and transfer only what you need when you need it.

Thank you for the useful information. I like Thailand but it seems like they have more strict bureaucracy in their banking system for foreigners. I think that I will just have to follow your advice.

[britmaveric]

Well just use your atm card for time being.