Cheapest ways to send money USA to Thailand

[mja1906]

I'm looking to transfer some thousands (usd) from USA to Thailand. Can anyone recommend the cheapest and safest way to do this? Thanks

[beechguy]

I guess you can't use the search function? This gets mentioned often, the same answer generally speaking, is ACH transfer, if it is above the limits for you bank, or a one time deal, do a Swift transfer and be done with it.

I use Bank of America for ACH transfers, $3 for 3 day service, $10 for next day, and $25 for same day. For more than a $1000, have to use security features like Safe Pass.

[Langsuan Man]

One time transfer of a few thousand dollars if in no rush then the cheapest way would be to deposit a check into your Thai bank account and just be patient waiting for it to clear

Otherwise, for recurring transfer see this option from Bangkok Bank

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

[Pib]

I guess you can't use the search function? This gets mentioned often, the same answer generally speaking, is ACH transfer, if it is above the limits for you bank, or a one time deal, do a Swift transfer and be done with it.

I use Bank of America for ACH transfers, $3 for 3 day service, $10 for next day, and $25 for same day. For more than a $1000, have to use security features like Safe Pass.

But don't forget to mentioned the ACH fees charged at the Bangkok Bank New York branch ($5 or $10 for the usual amounts sent) and the in-Thailand Bangkok Bank branch receiving/conversion fee of 0.25% (Bt200 min, Bt500max). In your example the total cost of transfer say for $2,000 would be $3 BOA fee plus $5 Bangkok Bank NY fee plus $6.25 in-Thailand Bangkok Bank fee for a total of $14.25. The two Bangkok Bank fees will "not" appear on your Bangkok Bank statement or your BOA statement as the fees occur in-transit and before posting to your Bangkok Bank account which fools some folks into thinking no fees were applied. Now if sending over $2,000 up to $50,000 I think the Bangkok Bank NY fee is $10. All in all still a lot cheaper than the average SWIFT transfer costs...even using SWiFT the 0.25% (Bt200 min, Bt500 max) is still applied on the Thailand end.

[CMSteve]

If you have any American friends in Thailand that still get charged a 180B fee at the ATM, they will be the cheapest and fastest way to transfer. Just arrange it where you deposit into their US account and they deposit into you Thai account.

[beechguy]

I guess you can't use the search function? This gets mentioned often, the same answer generally speaking, is ACH transfer, if it is above the limits for you bank, or a one time deal, do a Swift transfer and be done with it.

I use Bank of America for ACH transfers, $3 for 3 day service, $10 for next day, and $25 for same day. For more than a $1000, have to use security features like Safe Pass.

But don't forget to mentioned the ACH fees charged at the Bangkok Bank New York branch ($5 or $10 for the usual amounts sent) and the in-Thailand Bangkok Bank branch receiving/conversion fee of 0.25% (Bt200 min, Bt500max). In your example the total cost of transfer say for $2,000 would be $3 BOA fee plus $5 Bangkok Bank NY fee plus $6.25 in-Thailand Bangkok Bank fee for a total of $14.25. The two Bangkok Bank fees will "not" appear on your Bangkok Bank statement or your BOA statement as the fees occur in-transit and before posting to your Bangkok Bank account which fools some folks into thinking no fees were applied. Now if sending over $2,000 up to $50,000 I think the Bangkok Bank NY fee is $10. All in all still a lot cheaper than the average SWIFT transfer costs...even using SWiFT the 0.25% (Bt200 min, Bt500 max) is still applied on the Thailand end.

Thanks, but I didn't forget, just not interested in rehashing the same stuff, that's been mentioned numerous times, and people are to lazy to do a little reading.

[Pib]

I hear you, but like you said a lot of people don't seem to do much searching for whatever reason. Guess I just want to ensure those kinda of folks still get a complete answer. Kinda like the Retirement Visa/Retirement Extension of Stay and 90 Day Reporting questions which have been asked and answered thousands of times so far....and many more thousands of time to come no doubt.

Edited October 21, 2014 by Pib

[gk10002000]

I have used Western Union before and I thought it was easy and decently priced. currently online, 2500USD will transfer at 80375 baht. 32.125 is their estimated exchange rate. 77290 baht is also listed so I am not sure which value gets to Thailand. The charge will be $45 USD. The western union website says 2999 is all they allow to be transferred at once. So might have to wait a few days or use a different account, etc. to send more.

[mja1906]

Looks like I'll be sending more now, so its gonna be in the 16k usd range, any advice on that?

Edited October 22, 2014 by mja1906

[claynlr]

If one doesn't want to rehash or answer the question...just don't reply! Seems easy...no need to get nasty about it. Geeezzzz

[mja1906]

Using an atm card isn't an option for me. I'll have to check out the swift/ach option. It's a large amount, 16k usd.

Meanwhile...Anyone tried forex.com ? They seem pretty good - good rates and fee free (for transfers >5k usd). Does anyone know how the receiving fees work? My bank (Kasikorn) aren't able to tell me how much will be deducted. She said depends on the sender, and if they accept to pay the fees. If they do, then I won't get charged anything, although there might be a slight loss due to fx rates.

I'm not entirely convinced this is true - anyone had experience?

[beechguy]

If one doesn't want to rehash or answer the question...just don't reply! Seems easy...no need to get nasty about it. Geeezzzz

Actually, it was to encourage others to use the search function, which isn't really necessary, because there are at least 3 similar topics going on this page now.

It's unfortunate people can't read and do a little research, rather than asking the same questions numerous times.

But, thank you for you valuable advice, do carry on now.