saintofsilence Posted October 17, 2011 Share Posted October 17, 2011 Kasikorn online banking will not allow international money transfers on internet banking I want to send about 300k baht to australia and convert it to AUD what is the easiest way and who offers the best rate in Australia. Link to comment Share on other sites More sharing options...
sbk Posted October 17, 2011 Share Posted October 17, 2011 Moving to Banking forum Link to comment Share on other sites More sharing options...
Boater Posted October 17, 2011 Share Posted October 17, 2011 sending money out of Thailand is very difficult, do you have proof of how you got the money in thailand? why you want to transfer ect ect ..... Link to comment Share on other sites More sharing options...
OZEMADE Posted October 18, 2011 Share Posted October 18, 2011 You can transfer cash from the Bangkok Bank to your bank in Australia on line. I transfer cash both ways.Go to their web site it explains it all and how much you can transfer out each time. Link to comment Share on other sites More sharing options...
Daveroc Posted October 18, 2011 Share Posted October 18, 2011 (edited) If you have the option, consider transferring the funds to Australia in AUD . Current rates on BBL website show a sell rate of 31.4725. which would give you 9,532.13. A buy rate of Thai baht from the NAB website will be .0297 giving you 8910. There probably is not a big market for Thai Baht in Australia which is reflected in the rate the Banks are offerring. Edited October 18, 2011 by Daveroc Link to comment Share on other sites More sharing options...
IMA_FARANG Posted October 18, 2011 Share Posted October 18, 2011 Again I'm not an expert on these matters but: 1. I believe you will get a better exchange rate at your bank by converting the Baht here (buying foriegn currency) and then transfering that amount (as Austrailian) as a foriegn exchange transfer at your bank. They will charge you fee for the transfer, and give you a lower exchange rate for converting here to Aussie dollars. But since the Baht exchange rate in Austrailia is going to be less than that here in Thailand, if you send a signifigant amout of Thai Baht you usually save on the total cost by converting it here in Thailand first. 2. Of course, you can document the source of the funds, can't you? That will make the Thai tax people as well as the income tax people in Austrailia very happy. Otherwise, they won't be happy. Link to comment Share on other sites More sharing options...
saintofsilence Posted October 18, 2011 Author Share Posted October 18, 2011 I never reslised that the I would get less taking baht out just thought it would be the same as bringing aid in. I have no problem showing where it came from . Link to comment Share on other sites More sharing options...
saintofsilence Posted October 18, 2011 Author Share Posted October 18, 2011 Thanks everybody for the advice looks looks like buying AUD in thailand will save about 20000 baht but it will have to be hand delivered. Link to comment Share on other sites More sharing options...
barryw52 Posted October 19, 2011 Share Posted October 19, 2011 If you hand delivering don't for get you cannot take out more than US$10,000 out of Thailand I think it is. Same bring Money into Australia where it is $10,000. It is an anti money laundering prevention. Link to comment Share on other sites More sharing options...
Daveroc Posted October 19, 2011 Share Posted October 19, 2011 Thanks everybody for the advice looks looks like buying AUD in thailand will save about 20000 baht but it will have to be hand delivered. If you are looking to transfer through the banking sysyem please PM me and we can discuss if options available. (BBL employee) Link to comment Share on other sites More sharing options...
saintofsilence Posted October 21, 2011 Author Share Posted October 21, 2011 Thanks everybody for the advice looks looks like buying AUD in thailand will save about 20000 baht but it will have to be hand delivered. If you are looking to transfer through the banking sysyem please PM me and we can discuss if options available. (BBL employee) Thanks for the Offer Dave now I have it sorted. Link to comment Share on other sites More sharing options...
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