Transferring Canadian $ To Thailand

[shepsel]

I have been trying to find out which is the best way of transferring Canadian Dollars in a Canadian Financial institution to a bank in Thailand on a regular basis. Most of the Big 5 Banks have exhorbitant fees for wiring the money, and do allow you to take out a maximum of $500 per day with an approximate $5.00 foreign ATM charge which is charged to my Canadian Bank, in addition to the ATM charges. I looked at HSBC, and they can link me up to my Canadian Bank for a $200 charge, plus at CDN.$3.00 ATM charge for a maximum daily limit (which they refuse to tell me what it is).

I was wondering what other Canadians are doing to transfer funds economically and efficiently to Thailand on a regular basis.

[johnnyk]

The obvious question is, how "regular" is "regular basis"?

Big 5 wire transfers are about $50 each time, Western Union has exorbitant fees plus dismal xchange rate. If you want to do this "regularly" (I'm thinking monthly for your GF) there is no cost-free way.

Next visit put money in a Thai bank and transfer via online to the GF bank account when necessary.

[Sabaidii]

The obvious question is, how "regular" is "regular basis"?

Big 5 wire transfers are about $50 each time, Western Union has exorbitant fees plus dismal xchange rate. If you want to do this "regularly" (I'm thinking monthly for your GF) there is no cost-free way.

Next visit put money in a Thai bank and transfer via online to the GF bank account when necessary.

Online banking is not available to people who do not have a work permit and not residing in Thailand. I tried to apply for online account access last month and was told nope.

Edited August 22, 2008 by Sabaidii

[Guest Bellini]

Online banking is not available to people who do not have a work permit and not residing in Thailand.

There is no law or government regulation to that effect, as far as I know. It is up to the the individual bank if they want to give a customer online banking. I arranged it earlier this year for a savings account with a branch of Siam Commercial Bank and the entire procedure for sign-up was done online. I don't have a work permit and usually visit Thailand once a year for a few weeks with a tourist visa.

[johnnyk]

The obvious question is, how "regular" is "regular basis"?

Big 5 wire transfers are about $50 each time, Western Union has exorbitant fees plus dismal xchange rate. If you want to do this "regularly" (I'm thinking monthly for your GF) there is no cost-free way.

Next visit put money in a Thai bank and transfer via online to the GF bank account when necessary.

Online banking is not available to people who do not have a work permit and not residing in Thailand. I tried to apply for online account access last month and was told nope.

Beware of making blanket statements.

I move money around from K-Bank to other people (accountant/builder/lawyer/GF) in Thailand all the time.

I do it from my keyboard here in Canada.

Edited August 25, 2008 by johnnyk

[rethaired]

I have been trying to find out which is the best way of transferring Canadian Dollars in a Canadian Financial institution to a bank in Thailand on a regular basis. Most of the Big 5 Banks have exhorbitant fees for wiring the money, and do allow you to take out a maximum of $500 per day with an approximate $5.00 foreign ATM charge which is charged to my Canadian Bank, in addition to the ATM charges. I looked at HSBC, and they can link me up to my Canadian Bank for a $200 charge, plus at CDN.$3.00 ATM charge for a maximum daily limit (which they refuse to tell me what it is).

I was wondering what other Canadians are doing to transfer funds economically and efficiently to Thailand on a regular basis.

I think if you can, use credit unions: mine charges 2.50 CAD for a maximum of $400 CAD on a per 24-hour basis.

Edited September 15, 2008 by rethaired