Answered Before But - Cheapest Way To Send Money?

[mja1906]

A question answered thousands of times already I'm sure but.........

what is the cheapest way to send money from the US - Thailand?

Any suggestions?

Also do KrungThai or Kasikorn charge for receiving money that is sent from a bank abroad?

Thanks

[pjclark1]

hifx (or similar) seems to be easy and no charges, google it online as not sure I should post a link here

[telco]

hifx (or similar) seems to be easy and no charges, google it online as not sure I should post a link here

Have you tried using Pay Pal? I transfered some cash from the UK using Pay Pal but there is a problem if the receiver does not have a ( verified ) account

[aurelius]

Info from BKK Bank website

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

[hhgz]

"A question answered thousands of times already I'm sure.."

Yet, asked again. Here's the answer: SWIFT.

[xen]

Kasikorn just deducted almost 600 baht for sending 5000 baht (in Thai baht, not Aussie dollars) from Australia yesterday. They say it is a tax which it is not but a fee and to my mind a form of theft but one must get used to that in LOS.

[antony77]

all the banks abroad and in Thailand try to make as much money as possible out of money transfers. Most have a minimum fee regardless of how much you send. They also often don't give you a good exchange rate. You get charged both ends.

If you set up internet banking at your bank in Thailand and also at your home bank and then do the transfer online you will find that this is probably the cheapest way.

[antony77]

Kasikorn just deducted almost 600 baht for sending 5000 baht (in Thai baht, not Aussie dollars) from Australia yesterday. They say it is a tax which it is not but a fee and to my mind a form of theft but one must get used to that in LOS.

I beleive that Bt600 is the minimum fee most banks charge. So sending small amounts like Bt5000 is not practicle

[flying]

To yourself or to someone else?

To yourself.....Bangkok Bank NY to a Thai branch

(you must have a Bangkok bank account to do so )

To someone else....

Get a separate ATM/share card mail it to the person.

After they get it they call you & you give the pin number.

From your end you can control the amount in the account & the PIN number is also easily changed from any machine on your end. Cost is minimal

[someoneelse]

If you're sending try www.oanda.com - they charge $25 and give you the interbank rate. The spread is usually something ridiculously small like 0.1% assuming you do the conversion during business hours, versus spreads of 1-3% charged by banks.

That said you still have to pay the transfer fees charged by your bank and the receiving bank, and processing time might be a bit longer, but if you're sending any decent size of money it'll probably be worth the hassle.

[xen]

Unfortunately we have to accept these charges, By the time You pay your bank's fees and their lower than it should be exchange rate and then another 600 Baht charge it is getting close to 1800 baht on a 5000 baht transfer. Siam Bank usually charges me 400 baht. The costs for Western Union/Travelex are also high but there is no charge in Thailand, they just hit you up with much lower exchange rates and higher fees on the senders side so it makes the 600 baht seem insignificant.

Sure ,the fixed charges are the same irrespective to the amount transfered but i need to send money for family reasons and need to send it every month. If it was too myself i was sending it too then i would be transferring larger amounts at less frequent times.

Someonelse , I will explore oanda as I use them to check exchange rates.

[mja1906]

I went to Kasikorn in CM yesterday, they said there is a fee of approx 270bt for any amount (up to about 40k), which seems a lot lower than the 600bt mentioned. Proven as I just received a 4,000bt transfer from Malaysia and was only charged about 350bt.

????

[tmhcks]

you should try boonspace.com - makes transfers for gifts a bit more pleasant.

[forqalso]

hifx (or similar) seems to be easy and no charges, google it online as not sure I should post a link here

I think it's changed it's name to: http://www.currencyonline.com/

I haven't tried it:; but, today it looks like the exchange rate $ to ฿ is 32.61 plus a $5 fee. I may try next time the in-laws need some help and report back here.