Transfer Funds from Australia

[PercyinOz]

Hi,

Does anyone have any experience transferring funds from Australia to Thailand.

Are Ozforex the best way to go?

Has anyone who has transferred a large'ish amount completed a Foreign Exchange Transaction Form and can explain to me how this works, what I need to do etc?

Thanks in advance..

[newcomer01]

I use an Australian bank transfer (Telegraphic transfer). Largish amount??? Most OZ banks up to 20K a day using internet banking. 20-30 AUD per transaction. Just put the reason down in the transfer screen where asked. Living expenses etc.

Neet Swift address of bank here and sometimes, for some banks the secondary bank that the Australian bank may deal with when transferring funds.

You get the telegraphic transfer rate less a bank fee here. Normally get get very close to the amount shown on the banks website for TT.

Send in AUD not another currency. Exchange rate is down a bit at the moment but not the worst it has been. Luck of the draw.

I currently deal with Suncorp and Thanachart here. (needs the secondary bank details) Money arrives within a day or 2. I have done it with other banks and never had a problem up to now. (Except Citibank)

Worst bank from Oz for money transfers I dealt with was citibank as they had to call to confirm and this came from India. Very hit and miss from here. Not worth the hastle.

Edited December 11, 2014 by newcomer01

[xen]

Where are you in Oz because in Sydney there are a couple of small outfits that do transfers at an reasonable fee . Otherwise use Ozforex . I would stay away from the banks and Travelex just because of the costs involved.

[PercyinOz]

I live in Rhodes, work in the City. Do you mean Xwing xen? My partner has used them.

[xen]

I live in Rhodes, work in the City. Do you mean Xwing xen? My partner has used them.

I do. I used to use First Money but apparently they went out of business due to high rent according to the Thai gossip . I am about to start using X Wing myself as i have heard good reports . I think it depends on the amounts you intend to transfer. If it was a large amount then i would use Ozforex. Just my view on it.

[PercyinOz]

X-wing have a limit of $9990, but my gf has used them many times to send money home with no issues. The other day a company called www.smartbaht.com started trading but have no experience with them.

[ozziepete]

I do mine through Westpac. Cost $20 for what ever amount. Best to stay under the $10 000 mark and it is good. Send and receive in AUD to get the better rate. From Westpac to Bangkok bank if done before 1800 eastern states time the usually in the next day and to Kasikorn bank 2 days.

[gedster]

For the best rate, I found bringing cash and exchanging at Super Rich worked for me.

You can monitor the rates and make the exchange when rate is satisfactory.

You must however declare funds at customs in Australia and Thailand.

The latter comes in handy if you want to take funds out of Thailand at a later date.

[PercyinOz]

Thanks guy, appreciate you taking the time to reply.

[fredjones]

HI Guys

A new Australian Thailand online money transfer service was launched last week called bahtsmart. www.bahtsmart.com. Online service, rates look pretty competitive and they say no fees and charges and fast transfer. Has anyone used it?

Cheers..

[DwightWillis]

Hi Guys

I'm Dwight CEO of Bahtsmart. Like PercyinOz says, we are a new company offering online money transfer to Thailand. I'm like you many of you guys - an Australian living in Thailand. Actually living in Chiang Mai with my wife and son. Having worked in banks for 25 years I had the pleasure of being able to transfer money to Thailand fee free and got staff rates. It was only when I left banking last year I found out how bad it is for everybody else. I tried Oz banks, ATM withdrawal, money changers in Sydney, Thai Banks, etc.. but all were either too expensive or slow or too risky.

So like all good ideas, I teamed up with some experts, my co-founders and we started BahtSmar to try and solve this problem for Aussies living in Thailand. We went live last week and offer a complete end to end money transfer service online. Our pricing is far better than the banks and Ozforex and competitive with the money changers in Sydney. We offer special rates for larger transfers over AUD20,000. Also no fees and charges and we are pretty quick. Same day or next day delivery to your bank account in Thailand.

We are secure.. we are licensed in Australia by AUSTRAC the Australian Government agency overseeing money remitters. We are a Thai registered company as well and have a Board of Investment Approval to operate in Thailand. Our system is completely online. You get prices online.. then can register and transfer online.

So check us out... either on our website www.bahtsmart.com or our facebook page: https://www.facebook.com/bahtsmart?ref=hl

Cheers

Dwight

[PercyinOz]

Hi Dwight...I was looking at your website last week and I was trying to register an account by logging in via my facebook but it didn't seem to work? Also the same when I tried to register via your site, clicked the button but nothing happened? This was last Thurs.

Also another issue you might want to resolve is that you have to click the English icon on every page rather than just once.

All the best with your new venture.

Rgds,

Michael

Edited December 16, 2014 by PercyinOz

[fredjones]

Hi Michael

Yeah we had a few early problems with registration process, especially facebook login but hopefully now resolved. We've had a tonne of successful registrations and transfers since. I'll message you direct as I know how to fix your registration and get you on the platform asap.

Cheers

Dwight