Transferrring Money From Usa To Thailand

[vagabond48]

I just got off the phone with HSBC and it appears my online savings account doesn't allow international transfer.

The rep mention "choice" checking account allows this but the charge for the transfer would be $30, which is not a bargain.

The other checking accounts requires a fairly large sum of money balance to avoid a monthly fee of either $15 or $50.

What type of HSBC account do you have that allows a transfer to BB for $3?

Thanks

Edited December 19, 2009 by vagabond48

[lopburi3]

Suspect it is a domestic ACH transfer to Bangkok Bank, New York rather than an international transfer.

[vagabond48]

Open up a Bangkok Bank account in Thailand. Open up a HSBC account in the US; you can do this online from Thailand. Then you can make online transfers from HSBC to BB at no charge.

Suspect it is a domestic ACH transfer to Bangkok Bank, New York rather than an international transfer.

I am only interpreting what the above poster wrote. I didn't sound like a domestic transfer unless opening a BB account in Thailand links you somehow to the NY BB branch.

Hopefully the poster will clear up the confusion.

[ianguygil]

Here is the link. As you said, what happens is a domestic transfer in the US and a transfer from Bangkok Bank NY branch to the Head Office via Due To / Due From accounting.

So without getting technical, what matters is it is cheaper, it is reliable, and it is only available at Bangkok Bank due to the branch in New York.

Good luck

http://www.bangkokbank.com/Bangkok%20Bank/...from%20USA.aspx

[barryofthailand]

I know many people use a debit card with either a visa or master charge logo to transfer money from the States. my question is Are you charged the 1% conversion rate that Visa and master charge charges normally on ATM withdrawals?

[vagabond48]

I know many people use a debit card with either a visa or master charge logo to transfer money from the States. my question is Are you charged the 1% conversion rate that Visa and master charge charges normally on ATM withdrawals?

I can't answer your question but as far as I know if you use a DC over the counter, you are still limited by the maximum allowed by Thai bank or your home bank, which ever is lower.

[hhgz]

"I would suggest Charles Schwab Bank which remburses all ATM fees and does not charge percentages for foreign transaction fees. No minimum balance required and you can do it on line. Small fee ($25 I believe) for wire transfer."

I too use CS, and it's a easy as pie. CS didn't charge me anything for a wire transfer and, when I bought condo, the only charge was 500THB by the receiving bank. I set up the wire transfer without being in the US, and have had money transferred with a single email and phone call (CS called me on its dime).

[lopburi3]

I know many people use a debit card with either a visa or master charge logo to transfer money from the States. my question is Are you charged the 1% conversion rate that Visa and master charge charges normally on ATM withdrawals?

I can't answer your question but as far as I know if you use a DC over the counter, you are still limited by the maximum allowed by Thai bank or your home bank, which ever is lower.

The daily max for ATM use is not the same as for OTC withdrawal at my home bank. In my case $500 ATM and $5,000 withdrawal.

[vagabond48]

I know many people use a debit card with either a visa or master charge logo to transfer money from the States. my question is Are you charged the 1% conversion rate that Visa and master charge charges normally on ATM withdrawals?

I can't answer your question but as far as I know if you use a DC over the counter, you are still limited by the maximum allowed by Thai bank or your home bank, which ever is lower.

The daily max for ATM use is not the same as for OTC withdrawal at my home bank. In my case $500 ATM and $5,000 withdrawal.

I think I'll call the various banks/brokerage firms that I have DCs with and ask them. It would be great if I was mistaken.