Cannot send an international transfer? This can't be true

[ericjt]

Paypal, Western Union, Bitcoin, Moneybookers/Skrill, XE.com website, etc. Most of these transfer services can work when banks won't. But "personal and business expenses" as the reason for sending the money should be OK for amounts under 200,000 THB. Non-bank services have their own share of headaches with their various security protocols, but they can be a good alternative to bank transfers. Setting up your own bank account overseas isn't always easy, and probably not worth it for a one time transaction, but if you're going to be sending money out of Thailand regularly, it's probably the best way. Setting up a foreign currency account inside Thailand to make transfers out easier also sounds like a good idea. Haven't tried it, but if you're not sending Baht out of the country, I'd guess there would be less scrutiny and questions. Hope all the suggestions above, and this summary, are helpful.

[Gonsalviz]

What's all the fuss about ? Just use Paypal - secure and comparatively cheap, and no questions asked. Been using it for over 5 years with no problem. To avoid bank-hassles i even use it to transfer cash to my lady when needed, even though we live together! Reason - deep in the Paypal data-base there is a handy file which stores all transfers made to any named person, and it is printable. This can be very useful for visa-applications etc. As for it being absolutely free as one poster says, no, that's not right. For 'personal' transfers direct from your bank - NOT from credit-cards which is costly - i pay 25 Baht on a 5,000 Baht transfer - and that might be a fixed amount regardless of the amount transferred - that i don't know for sure. Oh - and her Kasikorn account is the one linked to her Paypal account to receive the transfer. Paypal wins for me because it's so simple and provides such a good record of everything done through it for years. As for the different Thai banks - friends have said that Bangkok Bank is more farang-friendly than Kasikorn, and much more up to speed with international transactions. Maybe it's something to do with the history of the 'Farmer's Bank'.

I've been banking with Thai Farmer's Bank/Kasikorn for 35+ years and really never had a problem. Maybe I don't do anything complicated.

[Pib]

When it comes down to transferring money out of Thailand, it pretty boils down to the following list due to Bank of Thailand regulations which all Thai banks must follow. Of course there are some other reasons to send money out like the sale of your residence and you have the documents showing you originally brought the money into Thailand to buy the home...and some bank branches will bend the rules and let funds flow out with apparent little reason...TIT.

For Thai nationals

• Educational expenses
• Family support
• Living expenses
• Payment for goods
• Payment for services
• Travel expenses
• Personal expenses
• Gift
• Donation

For foreigners

• Salary repatriation

It wasn't the Thai banks that made these rules. It was the ever present and ever controlling United States Government.

Oh, give us all a break! Do you really believe that? If so, so sad.

[paz]

It wasn't the Thai banks that made these rules. It was the ever present and ever controlling United States Government.

No. In fact in the USA you can wire internationally any amount you desire

[paz]

I've been banking with Thai Farmer's Bank/Kasikorn for 35+ years and really never had a problem. Maybe I don't do anything complicated.

A problem for what? you wired large sums withou providing justification? Does that sound complicated to you ?

[12DrinkMore]

Excuse me? It's MY money.

Apparently not.. perhaps it stopped being yours when you changed it into Thai baht.

Many many countries will not permit you to export their currency, something to think about when bringing it in.

I was surprised to see the list above citing salary repatriation as the only permissible remittance for a foreigner... I thought if one sold a condo, and could show you brought the money into the country for the original purchase (Tor-tor-sam??), you were permitted to repatriate thee money.

When you deposit money into a bank it becomes the property of the bank, and is not yours any longer. This is an agreement you make with the bank when you open an account. In that document, the bank agrees to allow you to withdraw cash up to the amount you deposited when you ask for it. BUT the same document lists in agonizing detail the many circumstances in which the bank may not return the money you've deposited. Almost no one reads the banking agreement when they open an account, and appropriately enough that agreement is typically in very small type and is highly legalistic. In the larger picture, however, there have been thousands of instances of people who have either been unable to retrieve "their" cash in a timely manner, or have been unable to retrieve it at all.

This, incidentally, is why banks are so very wealthy, and are able to make a constant stream of huge investments -- sometimes in rather dicey enterprises. They do not have just the fees they collect to their credit, they quite literally own everything that's been given them.

That is a small part of the story.

The bigger part is that the banks create, out of nothing and at no cost, some 97% of the "money" in existence. Anything which is not cash has been created by the banks through the process of "loaning it into existence".

[davejones23]

I've transferred money to UK from my Bangkok Bank account three times. No questions asked. Money took less than a day to arrive in UK account. The money in that account is money I transferred in from UK originally. With Bangkok Bank you can also transfer internationally via online banking. I was told you had to nominate one account and that's the only one you could transfer to online. You need to set it up at a branch. You can also change the account to another one at a branch.

[Ulic]

I use Western Union from time to time. I don't find the exchange rate so bad but the cost of the

transfer is high. But for small amounts it is cheaper than bank transfers from Canada

Quick, efficient , extensive. Take the baht equivalent plus transfer cost to any place displaying

a Western Union sign. Bring passport/ID you will need the correct spelling of the name of the

person you are transferring the money to. (as displayed on their government ID) Takes 5 minutes.

You can have instant transfer or 24 hours. (24 hour window saves you a little) Send the verification

code to the person you are sending the money to. They can pick up the cash at any Western Union

convenient to them.

[MeowBundit]

This really seems like a very stupid setup to me. So if my sister needs emergency money back home and I want to send money to help her, I can't?

Yes, because you earn this money while working here illegally The question is source of your money. This is unclear for bank and even more, they must to follow BOT regulations.

To be able send money back, you need to have salary and legally work here OR you can use FET form, if you transfer money from abroad before. Just use Western Union now and next time ask bank for proof of your funds source. You can transfer FET-ed money back with no problem. Some banks give FET-s for 20k USD or more, but BBL can give FET for any amount, even for 5000 THB....

[IsaanUSA]

You can do it western union and they will ask no questions. Cost to send it will be about the same as bank. But they will not give as a good exchange rate as bank. I have found it much is easier and quicker for small amounts than through bank.

Ok, so Western Union might be the answer, then. I need to send the equivalent to U$850. I did a quick check and it looks like the exchange is so bad, I actually need to send $880 for them to get $850 in local money.

The currency units used here are a bit confusing, but since I'm American and you say "U$", then I assume you are talking US Dollars. $30 is a good price for a money transfer. My bank in the US charges me $50 to wire money to Thailand because Thailand is on their high risk countries list. $25 for non-high risk countries.

Edited February 26, 2014 by IsaanUSA

[ChiangraiTony]

I have sent money out of the country with no problems at Western Union - just a bad exchange rate plus fees.

BTW, maybe a bit off topic, but has anyone here reversed their pension bsck to the US? I currently have my Social Security deposited directly to Bangkok Bank in NY, thence it is transferred here. But one of the catches, so to speak, is that you must appear in person to collect your funds, (that way, they know it is you and not someone else collecting for years after you pass on), and no atm cards come with this type account. Now I am planning a several month trip back to the US where I still maintain a bank account.and will need the funds whilst there. Any suggestions? Have tried to go on the Social Security site but it never seems to connect, and waiting on the phone can be a long, long wait.

You can show up in person at your THAI bank and transfer the funds to another account that has an ATM.

Hello? Tony. Just wake up?

Oh, ok now I understand. I guess I was thinking that you already had a large sum in the account but now I understand that you meant for "each" month that the money continues to come into the account. Sorry for the confusion.

[Pib]

The currency units used here are a bit confusing, but since I'm American and you say "U$", then I assume you are talking US Dollars. $30 is a good price for a money transfer. My bank in the US charges me $50 to wire money to Thailand because Thailand is on their high risk countries list. $25 for non-high risk countries.

Me thinks your bank is just using a weak excuse to charge some of its customers higher transfer fees. Like they are probably using some U.S. govt list which lists certain countries into groupings that the U.S. feels has weak money laundering laws...or they have the laws it's just they don't adequately enforce them. But disregarding how the funds are used after they are transferred to another country, in terms of any risk of the money getting lost "in the transfer" between a U.S. bank and Thai bank I'm sure its no more (i.e., close to zero) than if you would transfer money from a U.S. bank to any other western bank say as to the U.K. bank.

I have quite a few U.S. bank accounts (too many probably, need to close one or two) and none of them charge extra for a ACH or SWiFT/wire transfer based on the country you are sending it to...in fact, ACH transfers to Thailand via the Bangkok Bank NY branch are free with the exception of my Bank of America account which charges $3 fee for a 3 business day ACH transfer (this is one of the accounts I really should close)...and even evil Bank of America don't charge more on a SWIFT/wire transfer based on country its going to. You must be with an even more evil, fee hungry bank than BoA.

Yeap, your bank is just using making up a weak excuse to charge you a higher wire transfer fee.

[shadmo63]

Try using pay-pal accounts. will take about 5 to 7 days for money to be available to your friend but cost is much less.

One more vote here for PAYPAL. Costs nothing or max $0.50 + 50 Baht and better exchange rate when I send money to gf in Thailand. Bank to bank from Australia cost me $22 here in Aus, then 600 Baht at SCB there - plus a poorer exchange rate than Paypal.

[Pib]

Try using pay-pal accounts. will take about 5 to 7 days for money to be available to your friend but cost is much less.

One more vote here for PAYPAL. Costs nothing or max $0.50 + 50 Baht and better exchange rate when I send money to gf in Thailand. Bank to bank from Australia cost me $22 here in Aus, then 600 Baht at SCB there - plus a poorer exchange rate than Paypal.

Absolutely no way SCB gave you a poorer exchange rate than PayPal's crappy rates. The SCB exchange rate would have been their TT Buying Rate which is about the best the common man can get...PayPal's exchange rate would have been several percent lower. Now if you allowed your Oz bank to convert to baht before sending then you most likely got a crappy exchange rate from them (your Oz bank) and then the SCB currency receipt/conversion fee is still applied regardless of what currency the funds arrived as...even baht. However, I will say if you are sending "small amounts" then PayPal may be better when all the exchange rate and fee costs are considered due to the bank Sending & Receiving fees you pay when going the bank transfer route.

Edit: just checked the SCB TT Buying Rate used for incoming wire transfers and PayPal Exchange rate. SCB TT Buying Rate 28.84 baht/AUD...Paypay Exchange Rate 28.39 baht/AUD which is 1.5% lower than SCB's rate. PayPal's rate will vary from currency to currency as to how much lower percentage wise they will be...usually varies from around 1.5 to 2.5% lower depending on the currency pair involved. While PayPal has no transfer fee is some cases, their hidden fee is basically their lower exchange rate.

Edited February 27, 2014 by Pib

[louse1953]

I couldn't even open an account at Siam Commercial the other day.They asked for my work permit.I said i was retired and said i already had accounts at Kasikorn and Bangkok Bank.No can do,never mind,their loss and plenty of other banks in the street.Too slack to deal with farangs?

[louse1953]

When it comes down to transferring money out of Thailand, it pretty boils down to the following list due to Bank of Thailand regulations which all Thai banks must follow. Of course there are some other reasons to send money out like the sale of your residence and you have the documents showing you originally brought the money into Thailand to buy the home...and some bank branches will bend the rules and let funds flow out with apparent little reason...TIT.

For Thai nationals

• Educational expenses
• Family support
• Living expenses
• Payment for goods
• Payment for services
• Travel expenses
• Personal expenses
• Gift
• Donation

For foreigners

• Salary repatriation

It wasn't the Thai banks that made these rules. It was the ever present and ever controlling United States Government.

Oh, give us all a break! Do you really believe that? If so, so sad.

I believe it.Money laundering is big business and there are still loopholes in the Thai system.

[stevie403]

I send money to the uk every month from kasikorn bank to set it up I just had to show that my salary comes from outside Thailand filled up some paperwork then 3 days later I got email saying my transfer had been accepted and now I send it online every month as school expenses

Sent from my iPhone using Thaivisa Connect Thailand

[louse1953]

Try using pay-pal accounts. will take about 5 to 7 days for money to be available to your friend but cost is much less.

One more vote here for PAYPAL. Costs nothing or max $0.50 + 50 Baht and better exchange rate when I send money to gf in Thailand. Bank to bank from Australia cost me $22 here in Aus, then 600 Baht at SCB there - plus a poorer exchange rate than Paypal.

Absolutely no way SCB gave you a poorer exchange rate than PayPal's crappy rates. The SCB exchange rate would have been their TT Buying Rate which is about the best the common man can get...PayPal's exchange rate would have been several percent lower. Now if you allowed your Oz bank to convert to baht before sending then you most likely got a crappy exchange rate from them (your Oz bank) and then the SCB currency receipt/conversion fee is still applied regardless of what currency the funds arrived as...even baht. However, I will say if you are sending "small amounts" then PayPal may be better when all the exchange rate and fee costs are considered due to the bank Sending & Receiving fees you pay when going the bank transfer route.

Edit: just checked the SCB TT Buying Rate used for incoming wire transfers and PayPal Exchange rate. SCB TT Buying Rate 28.84 baht/AUD...Paypay Exchange Rate 28.39 baht/AUD which is 1.5% lower than SCB's rate. PayPal's rate will vary from currency to currency as to how much lower percentage wise they will be...usually varies from around 1.5 to 2.5% lower depending on the currency pair involved. While PayPal has no transfer fee is some cases, their hidden fee is basically their lower exchange rate.

NAB,my Oz bank wouldn't let me send in Oz $,saw their crappy rate,+$28 for the priviledge of sending it,walked out the door.Cash is king,and no questions asked at this end.

[4evermaat]

I have sent money out of the country with no problems at Western Union - just a bad exchange rate plus fees.

BTW, maybe a bit off topic, but has anyone here reversed their pension bsck to the US? I currently have my Social Security deposited directly to Bangkok Bank in NY, thence it is transferred here. But one of the catches, so to speak, is that you must appear in person to collect your funds, (that way, they know it is you and not someone else collecting for years after you pass on), and no atm cards come with this type account. Now I am planning a several month trip back to the US where I still maintain a bank account.and will need the funds whilst there. Any suggestions? Have tried to go on the Social Security site but it never seems to connect, and waiting on the phone can be a long, long wait.

Preaching to the choir but you need to contact the Social Security folks, long phone wait or not, and then give them a routing and account number for your U.S. bank account to get it going in that direction. Or if you travel back and forth a lot, maybe you should switch to the Direct Express debit card to receive your federal benefits like your social security pension; however, they do have a healthy foreign transaction fee of $3 plus 3% of amount withdrawal, but for ATM withdrawals in the U.S. you get one free withdrawal per month and then each additional withdrawal costs 90 cents. See the Direct Express web site for more info. I'm not drawing social security (yet) so I can only speak to what their web sites says.

Why not just setup a low fee or no fee checking acct in usa, then withdraw in thailand when necessary? Much less restrictiobs that way.

"You dont need to learn to love yourself; you just need to UNLEARN all the reasons you reject yourself..." -sent from TV app (Note 2).

[dotx]

You can do it western union and they will ask no questions. Cost to send it will be about the same as bank. But they will not give as a good exchange rate as bank. I have found it much is easier and quicker for small amounts than through bank.

Ok, so Western Union might be the answer, then. I need to send the equivalent to U$850. I did a quick check and it looks like the exchange is so bad, I actually need to send $880 for them to get $850 in local money.

The currency units used here are a bit confusing, but since I'm American and you say "U$", then I assume you are talking US Dollars. $30 is a good price for a money transfer. My bank in the US charges me $50 to wire money to Thailand because Thailand is on their high risk countries list. $25 for non-high risk countries.

Yes, I was talking US Dollars. However, the extra U$30 I mentioned wasn't the cost of sending the money. They charged me U$55 to send the transfer. The additional 30 was because of the currency exchange. You send Thai Baht from here, and the exchange WU gives is very poor, so I had to send the equivalent to U$880 for her to receive U$850 (30 was "lost" in the exchange rate). Does that make sense? So the whole transfer actually cost me U$85.