Fee'S On Transfers

[curlywatt]

i use to send money to the thai missus by way of her using my irish atm card, got expensive with 150bth on every transaction and daily limit on card of 250euro, i.e. she could only take 10k each transaction for which there was a 150bth fee + 1% comm. at my end and also a bad exchange rate, last week i decided to transfer money direct from my irish account to her siam commercial bank account, flat fee 15euro at my end which i'm fine with, but they took 476bth from the 27k i transfered at her end, i want to do these transfers twice a month but begrudge paying over 12k per annum to siam commercial bank, does anyone know if all thai bank operate in this way, in ireland when money is transfered into my account i get the amount the person transfered provided they have paid the fee at their end, thanks in advance for any replies

[surayu]

My bank in Italy charges me around 30 Euro for every transfer in the range of 3000 Euro, i can also specify it that fee has to be paid by the receiver, the sender or just shared between the 2 of them.

[scorecard]

My bank in Italy charges me around 30 Euro for every transfer in the range of 3000 Euro, i can also specify it that fee has to be paid by the receiver, the sender or just shared between the 2 of them.

Luckily I don't need to transfer funds, however I've noticed posts before where some TV members have their pensions paid into a local account (say within UK) of Bangkok Bank, then withdraw the funds inside Thailand same as a local Bangkok Bank account within Thailand.

Is it worth exploring this possibility?

[aurelius]

First, see if your international daily limit can be increased - local ATMs can dispense 20-25,000bt at one shot.Alternatively:Could you open a bank account in Thailand (your name) and then transfer larger amounts less frequently; then use internet banking locally to make the transfer to her account.Another option is to ask your local bank if they operate the VISA Money Transfer service (its not widespread yet, so maybe not) - this is a way of crediting funds directly to someone's VISA number (even if that is a debit card, e.g. like Be1st card).

[Mario2008]

Often you can chose who pays for the transfer of money: the sender, the receiver or shared by both. If you chose the receiver, the account in Thailand will pay for it. Thai banks have a standard fee of 500 baht for this, but check with your bank if this also goes for very large amounts. 300,000 THB is the largest I have send and it still was only 500 baht when I specified the receiver would pay the cost.

The daily limit on the ATM is very low. I would check if it is possible to increase it with the bank.

[BWPattaya]

Am I missing something here? You send her 27,000 Bt and complain that charges are levied for the use of the service? Or, you allow her to withdraw 10,000 Bt from your account and complain the bank here charges 150 Bt?

Why should the Thai banks offer a free service? They have to install and stock the machines with their own cash, plus maintain the machines and the systems the machines need to operate efficiently.

No doubt someone else will ask the questions about why you are sending money. I know a girl with 10 men sending her money every month.

[djayz]

Am I missing something here? You send her 27,000 Bt and complain that charges are levied for the use of the service? Or, you allow her to withdraw 10,000 Bt from your account and complain the bank here charges 150 Bt?

Why should the Thai banks offer a free service? They have to install and stock the machines with their own cash, plus maintain the machines and the systems the machines need to operate efficiently.

No doubt someone else will ask the questions about why you are sending money. I know a girl with 10 men sending her money every month.

Yes, I think you are missing something here. He's not complaining about paying the transfer fees - he even states that he's fine with that. He is merely trying to find a less expensive alternative of transferring money from his account back home to his wifes' account here. Nowhere in his post does he say anything about "free banking".

Not every Thai woman is like the girls you know - maybe you should get out of Pattaya more often - there really are some very fine and honest women here.

@ OP: You could also try opening a bank account here - even a Euro account - and transfer the money to that account. Then via internet banking transfer money from that account to your wifes' account (or simply transfer it directly to her account - depending on how much you trust her and how well she can "manage" money). Try to open an account at the same bank in the same province as your wifes' account - otherwise the banks will charge you another fee just to transfer from one province to another(!). From personal experience I find it less expensive to make one or two large transfers per year - the fees are usually about Euro 40 in total for approximately Euro 40,000.

[lopburi3]

The standard fee at Thai banks is 1/4 of one percent in the range 200-500 baht for foreign currency receipt. 200 baht being lowest and 500 baht being highest charged regardless of amount - if 1/4 of one percent between these figures the exact amount is charged.

On foreign bank transfers there is also a third party (correspondent bank) charge which is normally taken out in the foreign currency, so if $500 sent only $495 might be received for conversion to Baht.

[CharlieH]

I have details of a UK company i use to transfer funds into a Thai bank account, they DONT CHARGE ANY FEES, and if the receiving bank charges you ANY fee and you can show that on your statement/book you have been charged they will REFUND THAT FEE TOO.

They gaurantee NO FEES on their transactions or refund the money.

IM me for details, also if you use an AEON machine there is NO FEE of 150 baht like the others for withdrawal using overseas atm card.

Hope this was of help.

[curlywatt]

thanks for all the replies guys, thanks CharlieH but a UK company no good as i'm in the Republic of Ireland, thanks anyway