Anyone in CM sending regular transfers "home"?

[CMSteve]

Looking for some advice from people that are sending transfers to the US, Europe, GB, or anywhere really. What's the preferred method? How much is the expected charge?

Or even not so regular.. Is there a difference in how you would send if you just sold a car, house, business in Chiang Mai?

[Thighlander]

more than 20,000 usd requires approval from the central bank. Basically, you do a "TT" and at BKK bank the fee is 300 thb (it was anyway) and you would convert at the TT "sell rate" currently at 32.52 (as opposed to 32.27 on the buy side)...http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx note if you were buying USD with THB, you would pay 32.67 but if you would take 20s 32.62.....but I'll bet that guy on LK is closer to the TT rate. Interest rates are still pretty low, so they may have quit playing the 1 or 2 day stall game, but I wouldn't count on it.

[Oscar2]

300 THB for a TT x-fer to Europe or America? what year was that? i occasionally send over some cash to my partners in Europe and perhaps every couple of months send some cash to my USA account in order to pay my American Express bill and it has been 1400 Bath for as long as I can remember. (well it may have been about 1200 in 2005 or before.) i've sent from BBL, K-Bank and Thai Pannich. all the same fee. i just checked BBL website and it is 1550 Bath to all countries but Japan which is 2500 Baht. if you sign up for a special service ("for foreigners - salary repatriation" only) then it is reduced to 1350/2400.

Edited June 14, 2014 by Oscar2

[Thighlander]

300 THB for a TT x-fer to Europe or America? what year was that? i occasionally send over some cash to my partners in Europe and perhaps every couple of months send some cash to my USA account in order to pay my American Express bill and it has been 1400 Bath for as long as I can remember. (well it may have been about 1200 in 2005 or before.) i've sent from BBL, K-Bank and Thai Pannich. all the same fee. i just checked BBL website and it is 1550 Bath to all countries but Japan which is 2500 Baht. if you sign up for a special service ("for foreigners - salary repatriation" only) then it is reduced to 1350/2400.

Welcome to the TV "I only do things the hard way club."

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringOutOfThailand/Pages/OutwardFAQs.aspx#6

300 if you do it on the internet, 400 if you do it at the branch...but 1150 if you want to pay receiver fees at the other end, which would be silly if you are using one of the many institutions that do not charge a fee to receive wire transfers. Not having a no fee bank account in the US is a common mistake, like for the people getting their SS checks deposited to BKK Bank NY. KISS...Keep It Simple, Stupid....

[Oscar2]

300 THB for a TT x-fer to Europe or America? what year was that? i occasionally send over some cash to my partners in Europe and perhaps every couple of months send some cash to my USA account in order to pay my American Express bill and it has been 1400 Bath for as long as I can remember. (well it may have been about 1200 in 2005 or before.) i've sent from BBL, K-Bank and Thai Pannich. all the same fee. i just checked BBL website and it is 1550 Bath to all countries but Japan which is 2500 Baht. if you sign up for a special service ("for foreigners - salary repatriation" only) then it is reduced to 1350/2400.

Welcome to the TV "I only do things the hard way club."

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringOutOfThailand/Pages/OutwardFAQs.aspx#6

300 if you do it on the internet, 400 if you do it at the branch...but 1150 if you want to pay receiver fees at the other end, which would be silly if you are using one of the many institutions that do not charge a fee to receive wire transfers. Not having a no fee bank account in the US is a common mistake, like for the people getting their SS checks deposited to BKK Bank NY. KISS...Keep It Simple, Stupid....

there is no such thing as "institutions that do not charge a fee to receive wire transfers." in Europe. it does not exist. it is always 40 EUR, 40 CHF, etc.

as for the USA aspect, i have not been there in 11 years and only have addresses in Thailand. not possible for me to open another account there. i'm not old enough for social security so.....1400 Bath it is...

it's good to know that there is an option for people who go to the USA and have an address there. they can open one of the accounts you mentioned which will save a lot of money.

[CMSteve]

Thanks guys. Doesn't look too bad for the one off , large transfers. Anyone have any tips for transferring smaller amounts (~$2-300 of THB)

[Oscar2]

Thanks guys. Doesn't look too bad for the one off , large transfers. Anyone have any tips for transferring smaller amounts (~$2-300 of THB)

for small amounts up to around 6000 Baht i always send cash by registered post or EMS. i always enclose the cash in thick black paper inside a bubble or padded envelope. i read about doing it this way about 15 years ago and it has always worked for me. i send cash this way about 6 times a year and have been doing so for the last 16 or 17 years and have never once had anything go missing. i do this regularly to Germany, USA, Switzerland, Slovakia, and Japan. never lost a satang. whatever works for you....but this works for me.

[Thighlander]

300 THB for a TT x-fer to Europe or America? what year was that? i occasionally send over some cash to my partners in Europe and perhaps every couple of months send some cash to my USA account in order to pay my American Express bill and it has been 1400 Bath for as long as I can remember. (well it may have been about 1200 in 2005 or before.) i've sent from BBL, K-Bank and Thai Pannich. all the same fee. i just checked BBL website and it is 1550 Bath to all countries but Japan which is 2500 Baht. if you sign up for a special service ("for foreigners - salary repatriation" only) then it is reduced to 1350/2400.

Welcome to the TV "I only do things the hard way club."

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringOutOfThailand/Pages/OutwardFAQs.aspx#6

300 if you do it on the internet, 400 if you do it at the branch...but 1150 if you want to pay receiver fees at the other end, which would be silly if you are using one of the many institutions that do not charge a fee to receive wire transfers. Not having a no fee bank account in the US is a common mistake, like for the people getting their SS checks deposited to BKK Bank NY. KISS...Keep It Simple, Stupid....

there is no such thing as "institutions that do not charge a fee to receive wire transfers." in Europe. it does not exist. it is always 40 EUR, 40 CHF, etc.

as for the USA aspect, i have not been there in 11 years and only have addresses in Thailand. not possible for me to open another account there. i'm not old enough for social security so.....1400 Bath it is...

it's good to know that there is an option for people who go to the USA and have an address there. they can open one of the accounts you mentioned which will save a lot of money.

And did I use the word "Europe" one time in my previous posts? There's a relatively small, obscure, company with 2 trillion USD in assets that doesn't charge a fee to receive wires.

https://www.fidelity.com/cash-management/bank-wires

Also, since Amex has a large presence in Thailand, you may ask them about getting an Amex Thai card, or if you could pay your US Amex bill here. But since, you seem to have such a difficult time communicating; just keep wasting money.

http://www.americanexpress.com/thailand/en/cust_svce/payyourbill.shtml

To the OP, If I am paying small debts in the US...like my debt from the Belmont; I just have my free US account send them a check to their address, and that is also free of charge. There's always PayPal, MoneyGram, and Western Union.