Transferring Funds From Aust Bank Into Thai Bank

[massein]

Are there any aussies out there who have transferred funds from a Commonwealth Bank savings account into a Bangkok Bank account? Later in the year I'm going to have to top up my thai account for visa purposes. Last year I made a short trip down to Perth and did it from there no worries but this year I'd rather not have to bother. Some bloke here told me that all I'll have to do is send a letter to my bank down there with a signature and all the details and they'll send it.......even to a Thai bank. I didn't think they'd want to risk it , if you know what I mean.

Thanks

[triplegee]

Are there any aussies out there who have transferred funds from a Commonwealth Bank savings account into a Bangkok Bank account? Later in the year I'm going to have  to top up my thai account for visa purposes. Last year I made a short trip down to Perth and did it from there no worries but this year I'd rather not have to bother. Some bloke here told me that all I'll have to do is send a letter to my bank down there with a signature and all the details and they'll send it.......even to a Thai bank. I didn't think they'd want to risk it , if you know what I mean.

Thanks

<{POST_SNAPBACK}>

You can do it over the telephone. Use the Commonwealth's phone banking service and speak to an operator to request a TT.

You may need to sign up for their phone banking service first. Call them on + 61 13 2221.

[lopburi3]

I strongly suspect he will have to have a wire transfer agreement (or whatever it is called in Oz) on file with the bank before they will accept a phone transfer. You may be able to do that without a visit but most US banks seem to want you there in person from my limited experience.

Edited May 19, 2005 by lopburi3

[mijan24]

I strongly suspect he will have to have a wire transfer agreement (or whatever it is called in Oz) on file with the bank before they will accept a phone transfer.  You may be able to do that without a visit but most US banks seem to want you there in person from my limited experience.

<{POST_SNAPBACK}>

Have sent money from CBA to Kasikorn & Bank of Bangkok numerous times.

Recently my brother had to send me some money and he was advised by the CBA to do it via netbank & there is no fee?? Still waiting to see if it is successful will keep you posted.

One other point it is normally advantageous to send it in Aust $ to be converted here.

Mijan24

[lopburi3]

Are you saying you do not have any agreement with your bank but you are able to send money where and when you want without you being in the bank? Or is this just a general confirmation that transfer can be done to Thai Banks?

Have heard of Bangkok Bank and Bangkok City Bank but had never heard of "Bank of Bangkok".

Your point about sending foreign currency is very true. Others have reported large shortfalls when they did not make that clear.

[bdenner]

I strongly suspect he will have to have a wire transfer agreement (or whatever it is called in Oz) on file with the bank before they will accept a phone transfer.  You may be able to do that without a visit but most US banks seem to want you there in person from my limited experience.

<{POST_SNAPBACK}>

Have sent money from CBA to Kasikorn & Bank of Bangkok numerous times.

Recently my brother had to send me some money and he was advised by the CBA to do it via netbank & there is no fee?? Still waiting to see if it is successful will keep you posted.

One other point it is normally advantageous to send it in Aust $ to be converted here.

Mijan24

<{POST_SNAPBACK}>

That’s interesting? I use both CBA NetBank and Kasikornbank eInternet facilities. Would be very convenient if I can transfer funds between CBA and TFB from the comfort of home, wouldn’t contemplate even trying to do it in the other direction. Will contact the CBA tomorrow and get the good news.

Fees are expensive if doing it through a normal international transfer from home --- last time I did it AUD$28.00 with a very poor x-rate. For that matter the fees hear are very high as well, an internet transfer between 2 of my own accounts at differing branches was 0.1% --- just cost me 420 Baht to transfer 420K, needed that so as to get a bullshit ‘Bank Certificate’ for my visa extn. without having to go to BKK to get it.

Although it confused ###### out of the bank I did a successful transfer by firstly flooding my MasterCard with funds (AUD) using NetBank then going the a Money Changer withdrawing the funds (THB) then depositing them into my TFB account. The 1.0%** transaction fee was easily offset by the better x-rate. There was no interest as the Credit Card had a positive balance.

** I believe that, in the true tradition of the CBA, the fee is now 1.5% but may well still be well worth it.