Travellers Cheques Or Other........

[skippybangkok]

Need to transfer money to Oz account from LOS for daughters school fee's.

Currently, have ATM card and account here, which she uses, generally works fine - 100 baht per withdrawl, compared to about 1,500 baht bank fee's for remittances, and on top the bad Oz bank exchange rates.

any better way? what about travellers cheques ? how much do you loose with the exchange rate and the admin fees.?

thx

[electau]

Get your daughter to open a bank acount in Australia at a branch near where she lives.

Then transfer from your bank account in Thailand directly to her bank account in AUD.

She will be able to use EFTPOS and ATM access with the debit card in Australia. She can pay the fees using EFTPOS. She can also use a Bank Cheque to pay her fees.

She will have to supply a 100 point ID check at the bank to open the account.

Edited December 6, 2010 by electau

[skippybangkok]

Get your daughter to open a bank acount in Australia at a branch near where she lives.

Then transfer from your bank account in Thailand directly to her bank account in AUD.

She will be able to use EFTPOS and ATM access with the debit card in Australia. She can pay the fees using EFTPOS. She can also use a Bank Cheque to pay her fees.

She will have to supply a 100 point ID check at the bank to open the account.

Thanks..........

I think on the use its not an issue, rather the method of xfer from Thailand to Oz. What's the best bang for the buck to xfer?

1. Cash hand carry - dangerous..... sent by me, and picked up on the other end by family.... but never know if there are swift fingers in the airports.

2. Travellers Cheques

3. Bank - Bank xfer ( usually bad rates, and lots of commission cuts on the way )

4. ATM card from BKK

5. Give her a credit card with limit from BKK.

6. Other ?

Basically if i.e 20k Thai baht, which channel would end up with the most A$ on the other side.

[karazyal]

Do you have a bank account in Australia? If so you can make internet transfers to her account or to a separate account in your name and hers. She can use a debit card or write a check off that account.

I use the internet to transfer money between my bank and credit union accounts all the time using the bank Bill Pay option. This way if my debit card account that I use in Thailand needs a boost I just move money from another account to it.

This should work if you have an account in Australia. If she is lousy handling cash you can dole the money out in small increments. My banks (not Oz) can be set up to make the same transfers automatically.

I can make transfers between my various accounts without any fees. The accounts I use most often are through credit unions where there are no fees for almost everything.

Edited December 14, 2010 by karazyal

[skippybangkok]

Do you have a bank account in Australia? If so you can make internet transfers to her account or to a separate account in your name and hers. She can use a debit card or write a check off that account.

I use the internet to transfer money between my bank and credit union accounts all the time using the bank Bill Pay option. This way if my debit card account that I use in Thailand needs a boost I just move money from another account to it.

This should work if you have an account in Australia. If she is lousy handling cash you can dole the money out in small increments. My banks (not Oz) can be set up to make the same transfers automatically.

I can make transfers between my various accounts without any fees. The accounts I use most often are through credit unions where there are no fees for almost everything.

Thanks for your kind input. I have a internet capable account there, so should not be an issue. Main issue was how to send $ from thailand to Oz and get the best bang for the buck. Currently the banks total would charge a 1500 baht fee end to end ( even on transferring 1500 baht ) and on top of that, a bad exchange rate.