Moving Money From Japan

[keepwalking]

Hello,

Wonder if anyone could give me any advice. I am here on a tourist Visa with hopes of getting a work Visa sometime later in the year. For now, I need to transfer money from an account in Japan (Sumitomo Mitsui Bank) to Thailand.

I have their international ATM card but as a test I withdrew 5000 bhat from an ATM here (a challenge in itself because alot of the ATMs didnt allow its' use even though SMBC assured me all Cirrus ATMs would)..anyway, I had to call Japan to check the balance and damage. 5000 bhat is generally about 13000 yen...but the deduction from my account was 17000 yen (for UK people that is about a 25 pounds difference to put it in context).

So, the ATM option does not seem to be cost efficient. I gather from reading the forum that I cannot open an account here on a tourist Visa? I have used a bank transfer before to various countries and the rates are much better than the ATM was giving me with my international card so that would seem to be better but if I cannot open an account...

Anyway, any advice , experience shared etc gratefully received.

Thanks.

[TheWalkingMan]

Not sure where you are at the moment, but hit the pavement and a few banks and you should be able to open an account.

The Transfer

As you are in Thailand, it is virtually impossible to have SMBC transfer money without the appropriate counter party paper work filled out. If you are not able to return to Japan for awhile, you might be able to have the paper work sent to a friend and the friend forward it to yourself. Fill in the paper work (still have your hanko handy), send it to your friend and your friend sends it to send to SMBC and you might be ok. I have never tried this, but when you are stuck, you need to be creative with solutions.

4k for an ATM withdrawal? What a rip-off.

Good luck!

TheWalkingMan

[think_too_mut]

Hello,

Wonder if anyone could give me any advice. I am here on a tourist Visa with hopes of getting a work Visa sometime later in the year. For now, I need to transfer money from an account in Japan (Sumitomo Mitsui Bank) to Thailand.

I have their international ATM card but as a test I withdrew 5000 bhat from an ATM here (a challenge in itself because alot of the ATMs didnt allow its' use even though SMBC assured me all Cirrus ATMs would)..anyway, I had to call Japan to check the balance and damage. 5000 bhat is generally about 13000 yen...but the deduction from my account was 17000 yen (for UK people that is about a 25 pounds difference to put it in context).

So, the ATM option does not seem to be cost efficient. I gather from reading the forum that I cannot open an account here on a tourist Visa? I have used a bank transfer before to various countries and the rates are much better than the ATM was giving me with my international card so that would seem to be better but if I cannot open an account...

It does not work quite that way.

I have a JP Citibank ATM card and have been using it 6 years to take money out in Bangkok.

My last money wihdrawal from BKK, a transaction record from Kashikorn Bank shows:

On September 16th, I took out 20,000B and it was 64,906Y.

Oanda currency converter shows 20,000B were 61,599Y on that day.

Quite reasonable: the per-transaction fee (5$ for withdrawal itself, currency conversion fee 20$, transaction commission 10$ for under 2000US$) regardless of amount has been added to the withdrawal. That's roughly what you were charged for 5000B withdrawal. The point: take the max you can, you will be charged anyway. BKK Bank 25,000B.

They would charge you the same if you sent money from Japan and then give you worse exchange rate.

Nothing beats ATMs for smaller amounts. For 100s thousands of baht you will have to find some other way.

P.S:

Westpac, an Oz bank, charges the same money for usage of their ATM card in BKK.

One bank, Siam City Commercial Bank, does not charge any fee (which is about 5$) per withdrawal itself.

[keepwalking]

thanks for the advice..will chew this over