Australian Money Transfer To Thai

[Will27]

Greetings Trend Setters,

After researching the forum, I was going to use a SWIFT transfer from my bank in Oz

to transfer 1.5 million Baht for a property. As I have no bank account in Thailand, it was

going to be put in the wife's account at Krung Thai bank.

My bank, BOQ have now told me that I will need to go back to Australia to fill out a

security form to allow SWIFT transfers. This isn't going to happen. The only other

alternative I can think of is to bill pay the money onto my credit card and use ATM's

to slowly withdraw it out. Apart from the costs, it's a slow process at 25 000 THB

a go. I don't want to open a Thai bank account.

There has got to be a better way but I can't think of one.

Any advice?

Regards

Will

[Werfer]

ING direct has a good transfer facility, its web based net banking so physical forms are not required.

There is no dramas using swift codes with them.

You can then transfer the cash with bpay if you wish.

They will give you a bpay reference number and they will deposit the amount to your designated account.

Their transfer fees are very competitive as well.

[Mighty Mouse]

Obviously you are now in Thailand.

Would it be possible to have your Australian bank transfer the necessary funds to a relative or trusted friend's bank account in Australia, and then have that person do an International Money Transfer to your wife's Thai bank account?

With respect to the advice given by Werfer, I think ING Direct use OzForex for all International Money Transfers. You can apply on-line to register for OzForex services.

The only problem that I see in using OzForex, is that they convert to Thai Baht before forwarded to a Thai bank. Their conversion rates are not as good as Thai bank rates. It is therefore better to find a facility that can transfer funds in Aussie dollars and allow the Thai bank to convert.

Commonwealth Bank, ANZ Bank, NAB, Suncorp are some institutions who can transfer Aussie dollars.

Edited August 10, 2010 by Mighty Mouse

[xen]

Gidday Will,

I have just been told about this company that may be of some use for transfering money to Thailand . I haven't used it yet so i cannot recommend it but most of the Thais in Sydney use it for money transfers. They have a office near the Capital Theatre in ThaiTown section of Chinatown ,but can also be accessed over the web. They don't make their money off giving poor exchange rates like the banks and Travelex do - they work on a set commission from what i understand. If it helps in your situation i don't know. They are called First Money Transfer.

The site is http://first247.com/en/ .

I would be interested to hear if anybody else has used them and what they think.

Cheers

[farmerjo]

Have done it in the past with the bank faxing thru paper to sign and sent back,however this was a country branch where i new all the employees and the manager.

You might struggle in a city location.

[Artisi]

Will27 - as you have an Aussie bank account, set it up for internet banking. You can then transfer from your Aussie account to your wifes Thai account. You can transfer upto $10 000 per transaction without any reporting of overseas money transfer. I use ANZ and have transferred money on many occassions - it currently costs $A 24 / transfer - transfer $A to Thailand not Bht to Thailand - you will pickup a couple of Bht / $

[Will27]

Thanks for all of the replies and advice gang.

Will let you know how I get on.

Regards

Will

Edited August 11, 2010 by Will27