Best Way To Transfer Or Bring Money To Thailand

[lostpacket]

I'm coming to live with my fiancee at the end of this month and need suggestions on how to bring money to Thailand.

First off, yes, I will declare it in the US as well as in Thailand. I'm not sure if I will need to declare it in Seoul, but I will ask when I land.

Originally I thought I would just leave it in my account in the US and do a transfer. Well, my bank is worthless and will not transfer money internationally. They suggested I used bill pay, which will essentially mail myself a check. What a joke. So it appears that any wire transfer from my bank is out. I want to transfer the whole amount and don't want to leave anything in the US. This part is not optional, it has to be like that.

My next thought was to just get a cashiers check for the full amount (~20-25k) in my fiancees name, then deposit it in her Thai bank account. (please, no "you can't trust Thai women or any side arguments) The problem is that from what I have read, it takes 30-45 days to clear a cashiers check. Is this true? If it helps, the account it will be withdrawn from is a joint account we own in the US.

Someone suggested to me that I should use travelers checks. I'm not sure how I feel about this. Since I don't have a work permit, I can't have my own account, so I'm not sure if the Thai bank will have an issue with this. I also don't want to sign 250 $100 checks in front of the teller.

We do share a debit/credit card from our bank in the US. I'm not sure if the Thai bank can just pull all the money directly from that. I don't want to get over there and find out at the last minute that they can't do it. I would also need to remove all daily spending limits from my debit card.

My last option is to just carry cash, but that is pretty risky even if I keep it next to me at all times.

Any suggestions on how to do this?

[garyh]

You can withdraw money using an ATM for a small fee from international bank accounts so long as your card can access Cirrus or Plus. There would be a daily limit, arriving with a large amount of cash may not be the best move. As well as you may think you know your fiancé there are many tales of woe and leaving lots of cash lying around is tempting fate.

[Garry9999]

Firstly, you don't need to work permit to open a Thai bank account.

I'd suggest putting the money in an international Master Card account and withdraw from ATMs. Master Card gives a good exchange rate, withdrawal fees are low if the account is in credit.

[retiredusn]

You can withdraw money using an ATM for a small fee from international bank accounts so long as your card can access Cirrus or Plus. There would be a daily limit, arriving with a large amount of cash may not be the best move. As well as you may think you know your fiancé there are many tales of woe and leaving lots of cash lying around is tempting fate.

Why not just change banks?? Several of the US banks will do either monthly or recurring transfers.

[lostpacket]

As well as you may think you know your fiancé there are many tales of woe and leaving lots of cash lying around is tempting fate.

I understand why you would give the advice, I have read many things too and seen a lot of questionable Thai women. She is not one of them. I didn't want to get into too much personal data trying to prove her honesty, but we have been engaged and lived together for many years with zero issues. She is by far the most sincere trustworthy person I have ever met. She also has a job far better than mine, highly educated, and more cash than me. If anything, the lowly farang would be more likely to steal from her.

Firstly, you don't need to work permit to open a Thai bank account.

Yeah, despite my search, I read the thread about Bangkok bank just after posting. I still have to get the money there in some manner.

I didn't switch banks because I didn't think it was too fair to go to another bank and then immediately transfer all the money out a few weeks later.

The money is not as safe here as it would be in a Thai bank, hence why I want to move it all.

[needforspeed]

BIg amounts use a dilomat to hand carry your chash to Thailand, you can exchange when the exchange rate is better or Thai Baht needed, charge you between 4 and 6 %

Only 25K, just ATM each time you need cash cost you every 20.000 Thai baht between 120 and 150 Baht ( 0.6%), plus a few percent on currency exchange.

[MeMock]

Cash.

Bring cash with you. Declare it when you leave your country but don't declare it when you arrive in Thailand. Head down to super rich and exchange for baht. Walk across the street and open a bank account at Kasikorn (5 minutes and only need your passport) and get an ATM card as well.

[ozzieovaseas]

Cash.

Bring cash with you. Declare it when you leave your country but don't declare it when you arrive in Thailand. Head down to super rich and exchange for baht. Walk across the street and open a bank account at Kasikorn (5 minutes and only need your passport) and get an ATM card as well.

Have you done this MeMock?

Exactly which branch did you use?

Always been asked for a work permit each time ive tried it.

[MeMock]

Bringing money over with cash I have done many times. If I am not travelling myself I get a family member or friend to bring it for me.

As for opening bank accounts I have opened four of them with Kasikorn with only my passport. Other friends have done the same (with KBank) as well. Twice in Bangkok and twice in Ubon. I cannot remember the name of the branches in Bangkok though sorry.

[ozzieovaseas]

Bringing money over with cash I have done many times. If I am not travelling myself I get a family member or friend to bring it for me.

As for opening bank accounts I have opened four of them with Kasikorn with only my passport. Other friends have done the same (with KBank) as well. Twice in Bangkok and twice in Ubon. I cannot remember the name of the branches in Bangkok though sorry.

Thanks mate..So when you say "walk accross the street" was this somewhere near swampy? or another airport? or in the city?

I've heard other reports that the Kasikorn branch somewhere near the paragon will give you an account without a work permit

[lostpacket]

Bring cash with you. Declare it when you leave your country but don't declare it when you arrive in Thailand. Head down to super rich and exchange for baht. Walk across the street and open a bank account at Kasikorn (5 minutes and only need your passport) and get an ATM card as well.

But coming into Thailand with more than $20k is illegal. I hate to start out on a bad foot. Also, if I ever have to leave and need to declare it, how can I tell them where I got the cash from?

Since we both have a debit card in both our names connected to the bank account here, could we just use it to charge the old account and put the money in the Thai account? I would need to remove the daily limits, but it seems feasible.

Does anyone know the time range for cashing a cashiers check? I could always just come with 2k and a cashiers check for the rest. I'm sure I won't blow 2k in 30-45 days.

[geriatrickid]

C'mon use your noggin.

All banks are able to effect international transfers. Appreciably it may be a small community bank, but they an do it. Talk to the manager of the bank H.O.

If that's still futile, use $15,000. in large denomination AMEX cheques. Forget about Thomas Cook as they are next to useless in Thailand.You can then take the remaining balance on the ATM card. Yes there are charges but Bangkok Bank lets you withdraw 25,000 baht per transaction unlike all of the other ATMS that cap it at 20,000. That's what? 750$ per transaction. You can clear the account at a local charge of $5. per cirrus transaction. Ok so it costs you maybe $60. in transaction fees and perhaps a few small points in FX, but that's chump change.

[lostpacket]

All banks are able to effect international transfers. Appreciably it may be a small community bank, but they an do it. Talk to the manager of the bank H.O.

Actually I did, I spoke with the account manager that has the final say on international transfers and was told they will not do it. Hence my frustration with my bank.

Thanks for the info about large denomination AMEX cheques. I never saw anything over $100 denomination, but it looks like they have $1,000. I will just need to find a place that carries them.

[BigWheelMan]

The powers that be and the banks have it all sown up.

However which way we bring our money over to Thailand, there is not much chance of beating the present exchange rates.

It`s really just a case of choosing the options that suit you best, according to your circumstances.

[MeMock]

How can you 'beat' the present exchange rates? No one can ever beat them.

By using Super Rich you can however get the best possible rate compared to anyone else.

Ozzieoverseas - when I said 'across the street' I meant across the street from superrich is a Kasikorn Bank branch.

[hawthorne]

You are making this way too complicated. Use a combination of all the above if it has you confused. But yes Kasikorn will allow you to open the account as easy as mentioned and to me it is a good bank with good service.

You said the money was safer in a Thailand than a US bank? Not sure if that was a misprint or not. But the statement is false. You have FDIC insurance in the states not too mention many other arguments.

Charles

[mauiguy90]

Cash.

Bring cash with you. Declare it when you leave your country but don't declare it when you arrive in Thailand. Head down to super rich and exchange for baht. Walk across the street and open a bank account at Kasikorn (5 minutes and only need your passport) and get an ATM card as well.

Have you done this MeMock?

Exactly which branch did you use?

Always been asked for a work permit each time ive tried it.

Try the K bank at Asoke and Sukhumvit 18, Exchange Tower.

[longball53098]

I've read most of the posts here and forgive me but I do not see any mention of the US bank name that is flatly refusing this wire transfer? Just curious but hard to believe there is a bank like this. But if you are closing the account it may have some impact on why they are saying no.

Withdraw the cash and if you are traveling with a companion then when you arrive in BKK split the cash up between the two of you and then neither will have exceeded the amount yu can legally bring in. You may have to hand cuff yourself to the companion to keeps tabs on them but the money will be safe and legal. The cost is two money belts. 25 k USD is only 250 notes between two of you easy to conceal from prying eyes.

[needforspeed]

Bring cash with you. Declare it when you leave your country but don't declare it when you arrive in Thailand. Head down to super rich and exchange for baht. Walk across the street and open a bank account at Kasikorn (5 minutes and only need your passport) and get an ATM card as well.

But coming into Thailand with more than $20k is illegal. I hate to start out on a bad foot. Also, if I ever have to leave and need to declare it, how can I tell them where I got the cash from?

Since we both have a debit card in both our names connected to the bank account here, could we just use it to charge the old account and put the money in the Thai account? I would need to remove the daily limits, but it seems feasible.

Does anyone know the time range for cashing a cashiers check? I could always just come with 2k and a cashiers check for the rest. I'm sure I won't blow 2k in 30-45 days.

The amount is 10.000 USD above need to declare.