I had actually wanted to remit my THB from the sale of my condo to Taiwan (to start a business). I have enquired with two banks, and both charged a 0.25% on the amount to be remitted - WITHOUT A MAXIMUM CAP. On top of that, I believe there is a service charge.

Instead, I have now been advised to convert my THB to USD and it will only incur a fixed charge of 400 baht. Is that the only way I can remit funds to overseas ? After all, they have also told me that I wouldn't be able to convert THB to TWD in Bangkok.

I'm looking for the cheapest and safest way to overseas. Is Western Union reliable ?

It is in fact true that banks charge 0.25% transfer fee for international transfers. However, some banks still charge lower; the 0.25% is the maximum rate but since some banks charge this, other banks follow to compete with the market.

For example the Krungsri Ayudhya Bank charges 1,300 Baht regardless of amount transferred. Converting your funds into a USD currency might be the most convenient solution to your problem. Western Union is quite reliable on foreign fund transfers, although their transfer fees depends on the amount you are transferring. For more info, you can refer to the Western Union website: http://www.westernunion.asia/en/?gclid=CMeB-YmerqMCFcpS6wodlxml5w

You can contact Sunbelt Asia at (66)2-642-0213 or email us here. Please visit our website for more information on doing business, working, investing, traveling, owning real estate, or starting your own business in Thailand at www.sunbeltasiagroup.com. We are located at 1 Ratchadaphisek Rd., Floor 26, Bangkok, Thailand 10400 and can easily be reached by public transportation at the Rama 9 subway stop, with the office located in the CP Tower II inside the Fortune Town complex.

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