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.

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.

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, 200817 yr by Sabaidii

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.

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, 200817 yr by johnnyk

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, 200817 yr by rethaired