International Wire Transfers

[CqK]

Does anyone know how I can find out what fees Thai banks charge on incoming international wire transfers of funds?

The financial institution can exchange my dollars for baht so the incoming funds would/could be baht.

I've emailed Siam Commercial Bank, Ayudhya and Kaisakorn asking what their incoming (I wanted to use "receiving" but second guessed myself and used "incoming" instead) fees are on international wire transfers of baht. Maybe I should try it again using "receiving"?

Kaisakorn's the only reply I've gotten but it's very clear there's a big misunderstanding (maximum transfer 500 baht) and I don't know if I'm up to trying to re-explain it.

Thanks.

[j0hnga1t]

I was at a branch of Siam Commercial last week and they said there were no fees for incoming wires.  I returned to the US and I just wired $20K US to my fiancee's account.  I'll find out in a couple of days if there were any fees....

[Maestro]

I’ve checked the websites of a number of big banks and they all charge 0.25% of the incoming amount, minimum 200 Baht, maximum 500 Baht. It is often a little difficult to find on their websites. For example on www.scb.co.th/index_en.shtml it is

– Personal Banking

– Others

– International Remittance

– Inward Remittance

--

Maestro

[lopburi3]

As said above it is one quarter of one percent in the range 200 (min) to 500 baht (max). The exchange rate will be the specific banks TT rate for the date/time processed.

Also be aware there will often be an intermediate bank fee. Bangkok Bank NY used to deduct $5 for the transfer service. Chase NY deducts $2 per transfer (for transfer in the 7-9k range - not sure if it varies by amount). This is for sending USD (which is what you should send for best exchange rate).

So your 20k transfer would be 20k out of your bank plus wire fee. If going via Chase $19,998 would be sent to Bangkok x exchange rate minus 500 baht.

Edited June 6, 2009 by lopburi3

[ubonjoe]

You might find it faster and cheaper to send it by Money Gram or Western Union for small amounts ($1000 or less).

Money Gram is the cheapest. http://www.moneygram.com

[CqK]

As said above it is one quarter of one percent in the range 200 (min) to 500 baht (max). The exchange rate will be the specific banks TT rate for the date/time processed.

Also be aware there will often be an intermediate bank fee. Bangkok Bank NY used to deduct $5 for the transfer service. Chase NY deducts $2 per transfer (for transfer in the 7-9k range - not sure if it varies by amount). This is for sending USD (which is what you should send for best exchange rate).

So your 20k transfer would be 20k out of your bank plus wire fee. If going via Chase $19,998 would be sent to Bangkok x exchange rate minus 500 baht.

DA! NOW I get the 500 maximum! God! The Kaisakorn person did understand my email! I'm the one who didn't "get it" on the reply!

Thank you.

[mahtin]

You might find it faster and cheaper to send it by Money Gram or Western Union for small amounts ($1000 or less).

Money Gram is the cheapest. http://www.moneygram.com

†In addition to the transfer fees applicable to a transaction, a currency exchange rate set by MoneyGram or its agents may be applied.

Check this first.