Snake on side of road On Nut

[marmaduke]

Living off deposits made into my account (Chase Bank) in America.

Withdrawing from Kasikorn or BKK Bank every week.

Chase charges 3% to release funds internationally and Kasikorn

charges 3% as well. Any idea how to cut this 6% down?

I tried speaking with Chase and Kasikorn but to no avail.

[Psych01]

You could check out Paypal, works out they charge approx 2% on the exchange rate, not sure if your bank in the states would charge you to transfer into the Paypal account, I do know that the Kasikorn do not charge for transfers into your account.

[Spaniel]

Seems a bit high (6 %) to transfer money. I don't know what to recommend but just for comparison here is how I do it. I have a brokerage account with Fidelity and I have set up wire transfer between Fidelity and Bangkok Bank New York. When I want to transfer $$ I call Fidelity via their free international 800 number and tell them to transfer the amount needed to my Bangkok Bank NY account, then when they receive the money in NY they in turn immediately transfer the money to my Bangkok Bank Bangkok account. If I call Fidelity in the evening, local time, then I usually have the money the nexd day. Total charge is $15 to Fidelity and B500 to Bangkok Bank, so about $30 per transfer. Makes no difference what the amount transfered is.

[Rimmer]

Moved to Banking business forum

[Tiger7Moth]

If you do a wire transfer from chase.com (you can send a secure message on chase.com asking for instructions and they will respond), there is a flat fee of $40. So, if you were to transfer $8,000 as an example, the fee is 0.5%. If you have a $ account at K Bank, they charge you 3% to withdraw from the account - if you have a Thai baht account, there is no withdrawal fee.

I recently did a transfer from Chase to K Bank (a Thai baht account) - Chase gives you the option of transferring $ or baht (I chose $ since the baht rate did not appear favorable. I received in my K Bank account, the amount I had sent at a rate of 30.47 baht to the $ - not a bad rate and no apparent conversion fee ($ to baht).

[topt]

If you do a wire transfer from chase.com (you can send a secure message on chase.com asking for instructions and they will respond), there is a flat fee of $40. So, if you were to transfer $8,000 as an example, the fee is 0.5%. If you have a $ account at K Bank, they charge you 3% to withdraw from the account - if you have a Thai baht account, there is no withdrawal fee.

I recently did a transfer from Chase to K Bank (a Thai baht account) - Chase gives you the option of transferring $ or baht (I chose $ since the baht rate did not appear favorable. I received in my K Bank account, the amount I had sent at a rate of 30.47 baht to the $ - not a bad rate and no apparent conversion fee ($ to baht).

They (K bank) make their fee in the difference between the 30.47 and the Interbank rate which has been around 30.7 or so for a bit.

OP are you being hit for 3% on any amount or is that your calcualtion based on the amount you are transferring - IE it is a small amount?

[Tiger7Moth]

If you do a wire transfer from chase.com (you can send a secure message on chase.com asking for instructions and they will respond), there is a flat fee of $40. So, if you were to transfer $8,000 as an example, the fee is 0.5%. If you have a $ account at K Bank, they charge you 3% to withdraw from the account - if you have a Thai baht account, there is no withdrawal fee.

I recently did a transfer from Chase to K Bank (a Thai baht account) - Chase gives you the option of transferring $ or baht (I chose $ since the baht rate did not appear favorable. I received in my K Bank account, the amount I had sent at a rate of 30.47 baht to the $ - not a bad rate and no apparent conversion fee ($ to baht).

They (K bank) make their fee in the difference between the 30.47 and the Interbank rate which has been around 30.7 or so for a bit.

OP are you being hit for 3% on any amount or is that your calcualtion based on the amount you are transferring - IE it is a small amount?

Where can one find out the Interbank transfer rate? I am always happy to put money in my pocket rather than in a bank's pocket. However, I transferred more than $8,000 and using your figures, I paid less than 1% - so, I am not complaining.

[topt]

If you do a wire transfer from chase.com (you can send a secure message on chase.com asking for instructions and they will respond), there is a flat fee of $40. So, if you were to transfer $8,000 as an example, the fee is 0.5%. If you have a $ account at K Bank, they charge you 3% to withdraw from the account - if you have a Thai baht account, there is no withdrawal fee.

I recently did a transfer from Chase to K Bank (a Thai baht account) - Chase gives you the option of transferring $ or baht (I chose $ since the baht rate did not appear favorable. I received in my K Bank account, the amount I had sent at a rate of 30.47 baht to the $ - not a bad rate and no apparent conversion fee ($ to baht).

They (K bank) make their fee in the difference between the 30.47 and the Interbank rate which has been around 30.7 or so for a bit.

OP are you being hit for 3% on any amount or is that your calcualtion based on the amount you are transferring - IE it is a small amount?

Where can one find out the Interbank transfer rate? I am always happy to put money in my pocket rather than in a bank's pocket. However, I transferred more than $8,000 and using your figures, I paid less than 1% - so, I am not complaining.

The only way to improve on the TT rate you were given would be to negotiate with your receiving bank before the transfer is made for a slightly better than normal rate. However I am not sure they would be bothered for much less than 20-30k however you never know till you ask.

Remember the exchange rates are dynamic and constantly fluctuating but you can get an idea from any of the sites like XE.com or Oanda amongst others.

Also the Superrich site in BKK shows a cash rate which is normally as good if not slightly better than most of the Thai banks TT rates -

http://www.superrichthailand.com/editor/rate.html currently 30.71 vs. SCB TT rate at 30.59 (on their web site)

[TallGuyJohninBKK]

OP, how exactly are you transferring the funds from Chase in the U.S.to Kasikorn in Thailand?? ATM withdrawal from Kasikorn in Thailand? Wire transfer from Chase to Kasikorn? Other??? And what area of Thailand are you/would you be staying, BKK or other?

Chase isn't a particularly friendly bank in terms it handling foreign currency transactions. But a lot of the other major U.S. banks also charge 3% or more in foreign currency fees on ATM withdrawals and POS purchases made outside the U.S. using their cards.

If you're doing wire transfers, you want to send (usually free) domestic ACHs to Bangkok Bank's New York branch and then onward to a BKK Bank in Thailand. That is one of the lowest fee methods for wire-type transfers, but you need to set up a BKK Bank account in Thailand as the recipient account. You can't do that in the U.S. You use BKK Bank's New York Branch 9 digit ABA/routing number along with the full BKK Bank account number for their Thai account.

If you're doing ATM withdrawals, ditch using the Chase card abroad and find yourself a better bank or credit union that doesn't charge any foreign currency fee for using its bank cards abroad -- Cap One Bank, State Farm Bank, Charles Schwab Bank and a variety of others. If you want to keep the Chase account, you can ACH the funds from your Chase account into the other fee-free account/card that you would use abroad.

[avidflyer]

You simply set up a transfer option to transfer funds from your Chase Bank checking account to your Bangkok bank savings account via the Bangkok bank New York City branch. 48 hours turn aroun and its FREE! I do it every week. $1,000 USD out and 30,257 TB in yesterday...

[gk10002000]

Many posters have shown several ways to transfer money. I will be in the retirement situation soon. One obvious thing that can help is to save up and only do it once a month or once every two months or more if possible. I understand you may be on a cash flow limit basis and have to do frequent transfers, especially if on a strict pension and don't have a lot of cash liquidity. I will be starting retirement with a fairly good sized nest egg, and not with just a built pension payouts, so I don't think I will need to bring over a little bit of money every month as it becomes available. Since I hate papwerwork and fees, I can see me doing it maybe twice a year. I also suspect I will be going back to the states once a year anyways for personal reaons and I would bring in another 10K USD at that time too.

[TallGuyJohninBKK]

You simply set up a transfer option to transfer funds from your Chase Bank checking account to your Bangkok bank savings account via the Bangkok bank New York City branch. 48 hours turn aroun and its FREE! I do it every week. $1,000 USD out and 30,257 TB in yesterday...

As I mentioned above, the route of sending money via BKK Bank's New York branch is probably the best/most economical wire transfer route for Americans. However, it is NOT free.

The New York branch charges a sliding scale handling fee based on the amount being sent, but it's generally small and less than most banks' wire transfer fees. For example, they charge a $5 fee for amounts between $100 and $2000. The only transfer amounts where there is not any fee is $50 or less.

Then at the Thai end, BKK Bank will automatically charge a commission for receiving the incoming funds, at a rate of 0.25%, minimum 200 baht and maximum 500 baht.

But still, with many U.S. banks charging $25 to $50 just for sending international wire transfers (and that price doesn't include the additional receiving commission by the Thai bank at their end), the BKK Bank New York route is a good deal.

Edited November 24, 2012 by TallGuyJohninBKK

[meatboy]

Many posters have shown several ways to transfer money. I will be in the retirement situation soon. One obvious thing that can help is to save up and only do it once a month or once every two months or more if possible. I understand you may be on a cash flow limit basis and have to do frequent transfers, especially if on a strict pension and don't have a lot of cash liquidity. I will be starting retirement with a fairly good sized nest egg, and not with just a built pension payouts, so I don't think I will need to bring over a little bit of money every month as it becomes available. Since I hate papwerwork and fees, I can see me doing it maybe twice a year. I also suspect I will be going back to the states once a year anyways for personal reaons and I would bring in another 10K USD at that time too.

if you have a decent nest egg do what i done trans.enough to last for 2yrs.then have your living exs.trans.every yr.to your chosen bank in thailand,that way you only have one lot of fee's.also you can watch the exchange rate and trans.when in your favour.i am waiting till next week hopefully it will hit 49bht.to £.

[TallGuyJohninBKK]

I should add, if someone is staying in Thailand anywhere near AEON ATMs, which are located in BKK and most of the other larger cities, often in malls or shopping centers, those are the best to use because they DO NOT charge the 150 baht flat withdrawal fee on foreign ATM cards that the Thai banks all charge.

Combine a no foreign currency fee U.S. ATM card, preferably VISA logo, with AEON ATM withdrawals on the Thai end and you have the best way of accessing cash from the U.S. -- more economical than any available wire transfer method. No fees at all, and usually a better exchange rate via the ATMs than the banks offer for wire transfers.

[camble]

I use my computer to initiate ACH transfers to my Bangkok Bank account, as needed. Takes 3 business days, very low fees as previously mentioned.

[Searat7]

I set up a dollar account at Bangkok Bank in addition to my baht savings account. Can transfer money between accounts online. I transfer dollars from USA via my USA bank's website. A $10,000 transfer costs $10 in USA and I get hit with about a $15.00 charge in Bangkok.

[marmaduke]

Thanks to all for taking the time to list some good ideas and suggestions.

I use Chase which is non negotiable. Problem is obvious. If I can manage to take out $$ Bi-Monthly I can save by doing a wire transfer for $45-US.The higher the lump sum the lower the cost. Above $3000- withdrawals its dirt cheap. Chase does acct balance transfers free but not Int'l transactions.

Already dealt with BKK Bank in NYC and in Thailand. They rip you on the exchange rate. NYC branch is the worst.

[meatboy]

Thanks to all for taking the time to list some good ideas and suggestions.

I use Chase which is non negotiable. Problem is obvious. If I can manage to take out $$ Bi-Monthly I can save by doing a wire transfer for $45-US.The higher the lump sum the lower the cost. Above $3000- withdrawals its dirt cheap. Chase does acct balance transfers free but not Int'l transactions.

Already dealt with BKK Bank in NYC and in Thailand. They rip you on the exchange rate. NYC branch is the worst.

no 1 rule on money trans.always send in your country's currency,never have your bank or agent to convert to bht.

[TallGuyJohninBKK]

BKK Bank has its various issues.... But a bad exchange rate on funds transfers thru the New York branch isn't one of them.

In fact, the New York branch doesn't handle or set the exchange rate, That's done by BKK Bank here in Thailand, and normally would be the bank's so-called buying TT rate, the normal one used for wire transfers.

Now, there will be small variances from Thai bank to bank in their buying TT rate on any given day. But while BKK Bank usually doesn't have the best rate among all banks, they also don't usually have the worst, more often in the middle of the pack. And regardless, any small variation in the exchange rate is going to be more than offset by the savings of that method over the normal U.S. fees for international wire transfers.

As for the OP, again, if you need to stick to Chase, the best route is to do an online ACH transfer from your Chase account to BKK Bank New York, using their 9 digit ABA/routing number and the full account number of your Thai BKK Bank account. Since that's a domestic U.S. funds transfer, you'll only be sending those funds in dollars. And then BKK Bank New York will automatically forward them onward to your Thai BKK Bank account, where the exchange to baht will occur at a normal rate.

OP, if you think you're getting ripped off by BKK Bank NY, you'd better look more closely into any transactions you've made. Because I seriously doubt the problem is where you think it is... There are far too many ThaiVisa members who regularly use that method and know it's probably the best means of international funds transfers between the U.S. and Thailand. If they were ripping people off somehow, we'd all know about it long before you came along.

[marmaduke]

BKK Bank has its various issues.... But a bad exchange rate on funds transfers thru the New York branch isn't one of them.

In fact, the New York branch doesn't handle or set the exchange rate, That's done by BKK Bank here in Thailand, and normally would be the bank's so-called buying TT rate, the normal one used for wire transfers.

Now, there will be small variances from Thai bank to bank in their buying TT rate on any given day. But while BKK Bank usually doesn't have the best rate among all banks, they also don't usually have the worst, more often in the middle of the pack. And regardless, any small variation in the exchange rate is going to be more than offset by the savings of that method over the normal U.S. fees for international wire transfers.

As for the OP, again, if you need to stick to Chase, the best route is to do an online ACH transfer from your Chase account to BKK Bank New York, using their 9 digit ABA/routing number and the full account number of your Thai BKK Bank account. Since that's a domestic U.S. funds transfer, you'll only be sending those funds in dollars. And then BKK Bank New York will automatically forward them onward to your Thai BKK Bank account, where the exchange to baht will occur at a normal rate.

OP, if you think you're getting ripped off by BKK Bank NY, you'd better look more closely into any transactions you've made. Because I seriously doubt the problem is where you think it is... There are far too many ThaiVisa members who regularly use that method and know it's probably the best means of international funds transfers between the U.S. and Thailand. If they were ripping people off somehow, we'd all know about it long before you came along.

Going to try the AEON ATM machine. BKK Bank in NY -the process may have been the problem. I gave US cash, and

they took the money and processed a wire transfer. Don't have the data any more, was 5 yrs ago. I remember the rate they gave was always 2-3 points below the exchange rate. I considered that a rip off. They also were

usually empty and seemed to lack business. BKK Bank here in Thailand is not bad. Did not have an acct with

BKK Bank NY, that may have made a difference. Will certainly check their policy next time I'm in NYC.

[Pib]

To the OP: I don't see how you can stand giving 6% of your money to the banks on each transfer...total ripoff. Chase is not known for being a fee-friendly bank...in fact, they are known for being one of the most-evil banks when it comes to high fees. Isn't their SWIFT fee around $40 for any amount? But maybe you are avoiding this fee by letting them covert to baht before sending, which is probably making them an even higher fee. If you let Chase convert your dollars to baht before sending that approach is will surely result in a lower exchange rate...significantly lower than the TT Buying Rate provided by Thai banks. Always send in home country currency....let the Thai banks do the currency exchange on the Thailand end. There will also be fund receipt/conversion fees on the Thai end...usually around 0.25% (200 baht min, 500 baht max) unless you have chosen some transfer method that allows them to charge more.

Now, I don't do many wire transfers anymore since I use my no foreign transaction fee debit cards. However, on those occasions when I need BIG money fast, I do a a free/low cost ACH transfer...I never do SWIFT transfers since SWIFT transfers seem to be in the $20 to $60 range for all banks...a real cash cow for them. Instead I do a free ACH transfer (no fee charged by my U.S. sending bank(s)), I route it through the Bangkok Bank NY branch (using their routing number), and on to my in-Thailand Bangkok Bank account (using my account number at that bank). So, lets say I transfer $2000....as it's routed through Bangkok Bank NY they slice off a $5 fee, $1995 arrives my in-Thailand Bangkok Bank where they convert it to Thai baht using the TT Buying Rate (about the best the common man can get)....just to make the math easy lets say the TT Buying Rate is 30 baht to the dollar....30 times 1995 equals 59,850 baht...now before my Bangkok Bank posts this money to my account they deduct their fee of 0.25% (200 baht min, 500 baht max)....0.25% of 59,850 is 149.625 baht...but since that is below the minimum fee it's rounded up to a 200 baht deduction...59,850 minus 200 equals 59,650 baht which gets posted to my account. So, percentage-wise, how much was charged for this example transfer? Starting amount of 2,000 times 30 equals 60,000 baht starting the trip....59,650 ended up posting to my account which was 350 baht less than the starting amount or a 0.58% charge---sure beat a 6% charge.

Edited November 25, 2012 by Pib

[TallGuyJohninBKK]

Going to try the AEON ATM machine. BKK Bank in NY -the process may have been the problem. I gave US cash, and

they took the money and processed a wire transfer. Don't have the data any more, was 5 yrs ago. I remember the rate they gave was always 2-3 points below the exchange rate. I considered that a rip off. They also were

usually empty and seemed to lack business. BKK Bank here in Thailand is not bad. Did not have an acct with

BKK Bank NY, that may have made a difference. Will certainly check their policy next time I'm in NYC.

Marmaduke, you'd do yourself a service to read some of the threads here on ThaiVisa on the BKK Bank NY Branch transfer method... You're clearly not understanding how that process works.

For example, you can't and don't open any account at BKK Bank NY. You also don't need to go to New York and have anything physically to do with the New York Branch. The only thing you do need to do is send a domestic ACH transfer from your Chase account to the BKK Bank New York branch using their 9 digit ABA/routing number and your full BKK Bank account number for your Thailand account.

Before you can do that, typically, you'll need to link your home U.S. bank account in online banking to the BKK Bank New York branch, using the typical trial deposits method. Those two trial deposit amounts will show up in your BKK Bank Thailand account, and then you'll need to call BKK Bank Thailand's customer service number in English to get the amount in U.S. $ of those two small trial deposits. You'll then enter those two amounts back into your home bank's online banking set-up, which will confirm the banking link with the New York branch. After than, sending ACH transfers from your home bank to BKK Bank is just like sending any other domestic ACH transfer from your Chase account in online banking.

As for AEON ATMs, they're great in that you can withdraw up to 40,000 baht or more at a time, assuming your home bank account allows daily withdrawals up to that amount. Most home accounts typically have $500 or $1000 daily limits on ATM withdrawals. And as I said above, using AEON ATMs in Thailand will avoid the Thai banks' 150 baht withdrawal fee on foreign cards.

However, using AEON WON'T avoid the U.S. banks' foreign currency fees, if you use bank cards like those belonging to Chase or BofA or others, where you're going to get hit with a 3 or 4% surcharge on any transactions outside the U.S. To use AEON ATMs wisely, you need to use them with a U.S. bank or credit union that doesn't charge any foreign currency fee, like some of banks I mentioned above. Chase absolutely IS NOT one of those.

You can still keep your Chase account and do whatever you want with it. But if you're going to use any U.S. bank debit or credit card in Thailand, find ones that have no foreign currency fees. And then you can transfer funds from your Chase account to your other no-fee U.S. account via ACH transfer to use in Thailand as needed.

Edited November 26, 2012 by TallGuyJohninBKK

[marmaduke]

Going to try the AEON ATM machine. BKK Bank in NY -the process may have been the problem. I gave US cash, and

they took the money and processed a wire transfer. Don't have the data any more, was 5 yrs ago. I remember the rate they gave was always 2-3 points below the exchange rate. I considered that a rip off. They also were

usually empty and seemed to lack business. BKK Bank here in Thailand is not bad. Did not have an acct with

BKK Bank NY, that may have made a difference. Will certainly check their policy next time I'm in NYC.

John,

Marmaduke, you'd do yourself a service to read some of the threads here on ThaiVisa on the BKK Bank NY Branch transfer method... You're clearly not understanding how that process works.

For example, you can't and don't open any account at BKK Bank NY. You also don't need to go to New York and have anything physically to do with the New York Branch. The only thing you do need to do is send a domestic ACH transfer from your Chase account to the BKK Bank New York branch using their 9 digit ABA/routing number and your full BKK Bank account number for your Thailand account.

Before you can do that, typically, you'll need to link your home U.S. bank account in online banking to the BKK Bank New York branch, using the typical trial deposits method. Those two trial deposit amounts will show up in your BKK Bank Thailand account, and then you'll need to call BKK Bank Thailand's customer service number in English to get the amount in U.S. $ of those two small trial deposits. You'll then enter those two amounts back into your home bank's online banking set-up, which will confirm the banking link with the New York branch. After than, sending ACH transfers from your home bank to BKK Bank is just like sending any other domestic ACH transfer from your Chase account in online banking.

As for AEON ATMs, they're great in that you can withdraw up to 40,000 baht or more at a time, assuming your home bank account allows daily withdrawals up to that amount. Most home accounts typically have $500 or $1000 daily limits on ATM withdrawals. And as I said above, using AEON ATMs in Thailand will avoid the Thai banks' 150 baht withdrawal fee on foreign cards.

However, using AEON WON'T avoid the U.S. banks' foreign currency fees, if you use bank cards like those belonging to Chase or BofA or others, where you're going to get hit with a 3 or 4% surcharge on any transactions outside the U.S. To use AEON ATMs wisely, you need to use them with a U.S. bank or credit union that doesn't charge any foreign currency fee, like some of banks I mentioned above. Chase absolutely IS NOT one of those.

You can still keep your Chase account and do whatever you want with it. But if you're going to use any U.S. bank debit or credit card in Thailand, find ones that have no foreign currency fees. And then you can transfer funds from your Chase account to your other no-fee U.S. account via ACH transfer to use in Thailand as needed.

hose

John,

I see it now. Called Kasikorn LA, they no longer accept those wires. Will touch base with BKK Bank NYC to make sure they do it and then I'll be ready to go. Not comfortable with just doing it . Thanks much!

[Psych01]

OK, years ago I used to work for HSBC Premier, sorry.

They used to have a way for you to transfer monies from an account, in your home country to another account in another country, would be transferred on the same business day and had no limit, as such from what I can remember. Only problem with it was that, you had to have your money, UK £250,000, invested with them or at least have a mortgage with them for a specified amount, other than that you were good to go. Exchange rate was determined by HSBC, probably not as beneficial as others but quite easy, so long as you had an account in both countries for the transfer, within HSBC.

[marmaduke]

Bangkok Bank is the ticket. Check this great email I received today from Bangkok Bank in New York.

Kudos to "TallGuy John"

.......................................

Dear Arty,

Our New York Branch is not licensed for retail banking therefore, unable to open

Account with us. I have attached circular regarding transferring of funds to Thailand.

Quote

With reference to your question, you have three options to transfer money to a beneficiary’s account in Thailand by the following methods:

1. Request your bank to wire transfer funds through our New York Branch Fed Routing no. 026008691 and indicate Beneficiary's account name and account number with our Bangkok Bank in Thailand.

2. If your bank has an online banking service, you may transfer by ACH direct deposit service through our New York Branch Fed Routing no. 026008691 and indicate Beneficiary's account name and account number with our Bangkok Bank in Thailand. Please obtain detail information from our bank’s website at www.bangkokbank.com Ø click: Personal Banking Ø enter: Transferring Funds Menu Ø select: Receiving International Funds Ø Funds Transfer from USA to Thailand.

On both options, when fund passes through our New York Branch we will deduct our fees** before transferring the balance in U.S. dollar on the same day of receipt to our Bangkok office who will further credit the Beneficiary's account in Thai Baht on the following day at the exchange rate in Thailand. You may check their rate on our Bank website at www.bangkokbank.com (TT rate). The difference is your bank may charge less for ACH transaction.

** Fee structure:-

Amount Fees

Less than $50 no deduction

$50.01 - $100 $3

$100.01 - $2,000 $5

$2,000.01 - $50,000 $10

More than $50,000 $20

3. Transfer funds with our Remittance Department by completing our Remittance Application form and send back to us with Cashier Check or money order made payable to “Bangkok Bank PCL”. We will transfer funds on the third business day after receipt of your check, in Thai baht at our New York Branch counter-exchange rate on the day of transfer. You may call us at (212) 422-8200 Ext. 238 to request for the remittance application form or download from our website at www.bangkokbank.com/newyork Ø On the right column: Tips/Useful Info Ø click: Download Application for Foreign Remittance.

Our remittance fee is $20.00 per transaction.

Note : Limited to $2,500 per transaction for Postal Money order

No limited for Bank’s Cashier Check

Kindly note that either method, our Bangkok office will also deduct their fee of 0.25 Baht per 100.- Baht, minimum 200.- and maximum 500.- Baht, before crediting funds to your account.

Bualuang Phone Customer service: 011-662-645-5555

Unquote

Trust above information will assist you.

Best regards,

NYC Help Desk-Wilma Lagdameo

[Pib]

Info is on the Bangkok Bank web site....go to this Link. Once going to this link be sure to click/expand the sublinks such as "Advice to Senders Using U.S. Bank Services" and the "Fees." It is absolutely no different, repeat, no different than setting up a Funds Transfer Link to any U.S. bank since the Bangkok Bank NY branch has an ACH routing number. Their U.S. branch is really a commercial branch and don't open personal/common saving/checking accounts as far as I know, but that don't make a difference in using their ACH routing number. Just set the transfer link up using that routing number and your in-Thailand Bangkok Bank account number. Simple...easy...cheap on the Bangkok Bank end (and hopefully your U.S. sending bank offers free/low cost ACH funds transfer).

Just open a Bangkok Bank account, use the instructions at above link, and assuming your U.S. sending bank offers free/low cost ACH transfers then you can transfer money with around a 0.6% total fee charge....sure beat a 6% total fee charge.

[marmaduke]

AEON has been taking $5- from my bank for each transaction. For those who think its free. The only good thing is they allow large withdrawals each day, at least 30,000 Baht.

Tried the acct bal transfer through BKK Bank and they got nit-picky with me and denied transfer even though my wifes name is a secondary

name on account at Chase. The acct in Thailand has her name as well.

Will try to find out what the problem is from the banks. So far dis-enchanted with this posting. Nothing is as was stated. It seems the info was meant well but not up to date.

[TallGuyJohninBKK]

I can assure you that AEON ATMs in Thailand are not charging you any fee for withdrawals. You rather need to be looking and talking to your home country bank, because that's almost certainly where the fee is coming from... assuming you're actually using a real AEON ATM and not some other Thai bank's ATM that might look similar. If you're using a Chase U.S. ATM card in Thailand, they mostly certainly are charging you for using a foreign ATM...

As for the BKK Bank issue, typically, they want and require the account ownership names to be the same on the sending and receiving account. If there's another party named on one of the accounts, it's not surprising to me that that might be causing a problem with them accepting the transfer.

[marmaduke]

I can assure you that AEON ATMs in Thailand are not charging you any fee for withdrawals. You rather need to be looking and talking to your home country bank, because that's almost certainly where the fee is coming from... assuming you're actually using a real AEON ATM and not some other Thai bank's ATM that might look similar. If you're using a Chase U.S. ATM card in Thailand, they mostly certainly are charging you for using a foreign ATM...

As for the BKK Bank issue, typically, they want and require the account ownership names to be the same on the sending and receiving account. If there's another party named on one of the accounts, it's not surprising to me that that might be causing a problem with them accepting the transfer.

_________________________________________________

I am using a foreign ATM card from Chase. The charges appear on Chase online site as non-Chase fee $5- for each transaction.

The exchange rate is also lousy. Comes to under 30 Baht while Exchange booths in Pattaya are just over 30 Baht.

No extra 3% fee on the Thai end but with the $5- ATM fee,and the lousy exchange rate its probably similar.

Will try to sort out the name problem with Chase/BKK Bank and report later.

[TallGuyJohninBKK]

What exactly is a "foreign ATM card from Chase"? The detail of that might help explain why you're getting an ATM fee...