BahtSmart - New Online Money Transfer to Thailand.

[BahtSmart]

BahtSmart - New Online Money Transfer to Thailand.

Bahtsmart is a new online money transfer from Australia to Thailand. We provide great rates, no fees and charges on a secure online web and mobile platform at www.bahtsmart.com.

We offer much better exchange rates than the Australian banks, with no fees and charges. We are very competitive with the Thai money changers, yet offer so much more.

We are fast. Transfers done in the Australian morning will typically reach Thailand same day. In the afternoon they arrive next day.

Your money is secure with BahtSmart. We are licensed by the Australian Government. We have heavily invested in a new online platform, so you always know where your money is when being transferred to Thailand and we use the best of the banking networks in Australia and Thailand to ensure you money gets to your Thailand account.

What do you need? To register you will need your personal particulars and a clear and large photo or scan of a passport details page or your Australian drivers license.

One approved, your ready to transfer.

Please check us out at www.bahtsmart.com

Why choose Bahtsmart?

Great Rate: No fees, no commission, great AUD/THB rates

Real time Rates: Our rates update in real time meaning you always get the most up to date AUD/THB rate.

Convenient: Do your transfer from anywhere, anytime, any device

Easy to Use: Complete a transaction in a few simple steps

Fast: Immediately transfer your money to Thailand

Secure: Your data is kept secure and private at all times

Legal: We are fully licensed by The Australian Government

Management Team : Experienced Banking and Thai management team living in Australia and Thailand.

Stay tuned for more updates, information, and promotions!

[AyG]

On your Google+ page you write:

"Overall, what to be careful of when making a money transfer from Australia to Thailand:

1. Is the company you are using for transfer registered by the Australian Government and the Bank of Thailand?"

You appear to be registered in Australia, but not with the Bank of Thailand. Any comment?

[heybuz]

oz4x has better rate

[flyingdoc]

Why not extend to the U.K. too?

[horsewell]

oz4x has better rate

I've used them (oz4x) for years and that is the first thing I checked as well. However, the markets are closed and the live quote is always less than the advertised rate, so it's probably closer than it seems at the moment. It's good to have options, will keep my eye out.

[DwightWillis]

Hi Horsewell and Heybuz,

This is Dwight, CEO of Bahtsmart. Rest assured I wouldn't have launched a new business nor paid for a thai visa ad if we were more expensive than oz4fx or the aussie banks. Remember the cost of the transfer is not just the rate. It is also fees and charges. Oz4fx charge AUD $10-15 a transfer, plus you get deducted swift banking charges in Thailand. Anywhere from 200 to 400 baht depending upon the bank. Therefore, for a AUD1,000 transfer we cost just 3% to the customer whereas oz4fx are up to 5.6%. Then Aussie Banks up to 7-9% and western union about the same. We do this comparison everyday... The reason we are cheaper is because we charge no fees and charges, either in Australia or Thailand.

For larger amounts over AUD 20k call us on +61 (2) 80 730 593 or email us [email protected] and we will offer you a special rate, plus no fees and charges. I am confident we can beat our competitors every time.

Also we do transfers under 1,000 AUD which is important for some of our customers.

Oz4fx - your money can take up to a week to arrive in Thailand. For BahtSmart it can be same business day, worst next business day.

Our service is completely online. So pls check us out. Register online at www.bahtsmart.com and try our service. I am sure you will be pleasantly surprised.

Cheers

Dwight

Edited December 20, 2014 by DwightWillis

[Pib]

On the map at the web page I see some grayed out connections to the U.S. Canada, Japan, and China...does that mean "future, planned" transfer capability?

[wonder6281]

I use TT from my Aussie bank sending AUD, paying a $20 fee each time to my Thai bank. The money I receive is all down to the Exchange rate my Thai bank is paying. Can't really see any benefit except not paying the $20 and after a quick calculation using their website .. I'm still better off by 150 baht per 1000 AUD.

As the OP said .. good to have options.

[DwightWillis]

Why not extend to the U.K. too?

Hi Flyingdoc,

Agreed, would love to extend to UK. We are deep in planning to make this a reality. Watch this space later in 2015. Cheers Dwight

[wonder6281]

Hi Horsewell and Heybuz,

This is Dwight, CEO of Bahtsmart. Rest assured I wouldn't have launched a new business nor paid for a thai visa ad if we were more expensive than oz4fx or the aussie banks. Remember the cost of the transfer is not just the rate. It is also fees and charges. Oz4fx charge AUD $10-15 a transfer, plus you get deducted swift banking charges in Thailand. Anywhere from 200 to 400 baht depending upon the bank. Therefore, for a AUD1,000 transfer we cost just 3% to the customer whereas oz4fx are up to 5.6%. Then Aussie Banks up to 7-9% and western union about the same. We do this comparison everyday... The reason we are cheaper is because we charge no fees and charges, either in Australia or Thailand.

For larger amounts over AUD 20k call us on +61 (2) 80 730 593 or email us [email protected] and we will offer you a special rate, plus no fees and charges. I am confident we can beat our competitors every time.

Also we do transfers under 1,000 AUD which is important for some of our customers.

Oz4fx - your money can take up to a week to arrive in Thailand. For BahtSmart it can be same business day, worst next business day.

Our service is completely online. So pls check us out. Register online at www.bahtsamrt.com and try our service. I am sure you will be pleasantly surprised.

Cheers

Dwight

Hi Dwight,

Given your information about the Swift charges (Kasikorn is 203 Baht) then this makes your business a much better option. Good luck with it.

[DwightWillis]

On your Google+ page you write:

"Overall, what to be careful of when making a money transfer from Australia to Thailand:

1. Is the company you are using for transfer registered by the Australian Government and the Bank of Thailand?"

You appear to be registered in Australia, but not with the Bank of Thailand. Any comment?

Hi AyG,

Wow I am really surprised and pleased somebody has taken the time to read these blogs. They took me a while to write, while I was researching the market. We are registered in Australia by Austrac, but you are right not in Thailand yet. This doesn't restrict our current Australia-Thailand business model and I hope in 2015 we have some exciting news to share in this space for people based in Thailand.

Cheers

Dwight

[DwightWillis]

Hi Horsewell and Heybuz,

This is Dwight, CEO of Bahtsmart. Rest assured I wouldn't have launched a new business nor paid for a thai visa ad if we were more expensive than oz4fx or the aussie banks. Remember the cost of the transfer is not just the rate. It is also fees and charges. Oz4fx charge AUD $10-15 a transfer, plus you get deducted swift banking charges in Thailand. Anywhere from 200 to 400 baht depending upon the bank. Therefore, for a AUD1,000 transfer we cost just 3% to the customer whereas oz4fx are up to 5.6%. Then Aussie Banks up to 7-9% and western union about the same. We do this comparison everyday... The reason we are cheaper is because we charge no fees and charges, either in Australia or Thailand.

For larger amounts over AUD 20k call us on +61 (2) 80 730 593 or email us [email protected] and we will offer you a special rate, plus no fees and charges. I am confident we can beat our competitors every time.

Also we do transfers under 1,000 AUD which is important for some of our customers.

Oz4fx - your money can take up to a week to arrive in Thailand. For BahtSmart it can be same business day, worst next business day.

Our service is completely online. So pls check us out. Register online at www.bahtsamrt.com and try our service. I am sure you will be pleasantly surprised.

Cheers

Dwight

Hi Dwight,

Given your information about the Swift charges (Kasikorn is 203 Baht) then this makes your business a much better option. Good luck with it.

Thanks. If you are transferring money from Australia to Oz pls feel free to register and give us a try.. Cheers Dwight

[DwightWillis]

On the map at the web page I see some grayed out connections to the U.S. Canada, Japan, and China...does that mean "future, planned" transfer capability?

Hi PiB, Yes definitely. Nothing I can share just yet, but work is underway and watch this space in 2015 for more announcements.

[Psychic]

I use CanadianForex from Canada. Same company as Oz4x.

Not unhappy with their service but this does sound better if you're planning on being everywhere they are.

It sounds like you'll have lots of business since it's the best deal I've seen.

Sent from my iPhone using Thaivisa Connect Thailand

[Nuddy]

Hey Dwight ,

I hope you are still moderating this page.

Look most of us would be transferring Aussie dollars to Thailand. We get a better rate by fat at least a bart better on the small money.

Are you prepared to transfer Aussie Dollars to a Thai Bank and let the Thai Bank do the conversion and still with the no fee deal?

If so I'll give it a try.

[DwightWillis]

I use CanadianForex from Canada. Same company as Oz4x.

Not unhappy with their service but this does sound better if you're planning on being everywhere they are.

It sounds like you'll have lots of business since it's the best deal I've seen.

Sent from my iPhone using Thaivisa Connect Thailand

Thanks. Cheers Dwight

[Pib]

On the map at the web page I see some grayed out connections to the U.S. Canada, Japan, and China...does that mean "future, planned" transfer capability?

Hi PiB, Yes definitely. Nothing I can share just yet, but work is underway and watch this space in 2015 for more announcements.

Thanks. Keep us Americans in mind. We have a pretty cheap method using the Bangkok Bank New York branch ACH flow-thru capability to in-Thailand Bangkok Bank accounts, but it would be nice to have another method that is even cheaper on the Sending end (i.e., eliminating the Bangkok Bank New York flow-thru fee) and the Receiving end (i.e., the Thai bank typical 0.25% Bt 200 min, Bt500 max fee). Also the capability to send to any Thai bank since the Bangkok Bank ACH capability only works to Bangkok Bank accounts; for other Thai banks a person must use the pricey SWIFT method.

[DwightWillis]

Hey Dwight ,

I hope you are still moderating this page.

Look most of us would be transferring Aussie dollars to Thailand. We get a better rate by fat at least a bart better on the small money.

Are you prepared to transfer Aussie Dollars to a Thai Bank and let the Thai Bank do the conversion and still with the no fee deal?

If so I'll give it a try.

Hi Nuddy

Just took a quick break. Unfortunately, our systems aren't setup to do this kind of single currency transfer. Interesting idea though. I would charge a fee for it I would imagine but it would be less than the swift charges you pay for a AUD transfer from an Aussie Bank to a thai bank today. I have to make a dollar for my effort! Cheers Dwight

[scubascuba3]

Why not extend to the U.K. too?

Transferwise.com can be used from the UK.

[DwightWillis]

On the map at the web page I see some grayed out connections to the U.S. Canada, Japan, and China...does that mean "future, planned" transfer capability?

Hi PiB, Yes definitely. Nothing I can share just yet, but work is underway and watch this space in 2015 for more announcements.

Thanks. Keep us Americans in mind. We have a pretty cheap method using the Bangkok Bank New York branch ACH flow-thru capability to in-Thailand Bangkok Bank accounts, but it would be nice to have another method that is even cheaper on the Sending end (i.e., eliminating the Bangkok Bank New York flow-thru fee) and the Receiving end (i.e., the Thai bank typical 0.25% Bt 200 min, Bt500 max fee). Also the capability to send to any Thai bank since the Bangkok Bank ACH capability only works to Bangkok Bank accounts; for other Thai banks a person must use the pricey SWIFT method.

Shall do. Thanks for the cost breakdown. BBL US ACH product is the best banking product I have seen from a Thai Bank. Regards

Dwight

[DwightWillis]

I use CanadianForex from Canada. Same company as Oz4x.

Not unhappy with their service but this does sound better if you're planning on being everywhere they are.

It sounds like you'll have lots of business since it's the best deal I've seen.

Sent from my iPhone using Thaivisa Connect Thailand

Thanks Psychic. Hopefully one day we get to Canada. Cheers dwight

[heybuz]

thank you dwight for the info. i have registered with you will try you next transfer.

[DwightWillis]

thank you dwight for the info. i have registered with you will try you next transfer.

Thanks HeyBUz. I'll keep an eye out for your registration. If you have any issues or questions feel free to contact me on [email protected]

[Torrens54]

Please provide us with:

A Full copy of your AUSTRALIAN and THAI Registrations and a complete list of the members of your Board of Directors along with all other relevant information, including an OFFICIAL Clearance by the Australian Federal Police.

If you are genuine, you should have no problems with the above.

Edited December 20, 2014 by Torrens54

[Nuddy]

Hello Dwight,

I have registered subject to approval.

Say I want to send A$2500 to Thailand to credit a Bangkok Bank account in my name.

You do the conversion to baht

Forget the exchange rate for now

Please tell me the fees I would pay please.

Reason is it seems to down to the fees as the issue for me

Regards

[DwightWillis]

Hello Dwight,

I have registered subject to approval.

Say I want to send A$2500 to Thailand to credit a Bangkok Bank account in my name.

You do the conversion to baht

Forget the exchange rate for now

Please tell me the fees I would pay please.

Reason is it seems to down to the fees as the issue for me

Regards

HI Nuddy

We will do the conversion to baht for you once we receive your AUD in our bank account. Instructions are included in the transfer confirmation.

Thee are no fees and charges at all.

Thanks

Dwight

[Nuddy]

Dear Dwight,

Hey thanks for that prompt answer.

The reason I asked was in one of your replies in this article I saw a line ...

"Therefore, for a AUD1,000 transfer we cost just 3% to the customer whereas oz4fx are up to 5.6%."

Anyhow if that above mentioned line does not apply it seems you could save me at least the A$22.00 that I pay my Australian Bank.

Looking good but would you be so kind as to explain the 3% charge above?

Regards

[DwightWillis]

Please provide us with:

A Full copy of your AUSTRALIAN and THAI Registrations and a complete list of the members of your Board of Directors along with all other relevant information, including an OFFICIAL Clearance by the Australian Federal Police.

If you are genuine, you should have no problems with the above.

Hi Torrens

It sounds like you know something about money remittance registration in Australia. These are the documents we need to provide to the Australian government to get a money remitters Austrac license. What I will do is refer you to those government websites. You can check we are licensed there. If you have any further questions I suggest you contact Austrac to check us out. This is better than me sending you the same information.

Austrac: https://online.austrac.gov.au/ao/public/rsregister.seam

ASIC: https://connectonline.asic.gov.au/RegistrySearch/faces/landing/SearchRegisters.jspx?_adf.ctrl-state=1d1nq6rkf7_40

Pls note Bahtsmart is our trading name. The company name is Dollarsmart Global Pte. Ltd.

I won't supply you the police checks. This contains personal information we provided to the Australian Government. If you have a concern pls check with the AUSTRAC.

Thanks

Dwight

[jpinx]

Anyone doing transfers knows that it's always better to transfer the hard currency in and let the Thai bank do the conversion. It's clearly cheaper every time.

Don't forget the cost of transferring the money from your home bank into this service. Everyone's cost will not be the same, but it should be taken into the overall calculations....

[Nuddy]

Anyone doing transfers knows that it's always better to transfer the hard currency in and let the Thai bank do the conversion. It's clearly cheaper every time.

Don't forget the cost of transferring the money from your home bank into this service. Everyone's cost will not be the same, but it should be taken into the overall calculations....

As well there could be a delay if BahtSmart are not the same Bankers as to your own Banker.

For instance I send money to a relative and the transfer takes overnight between the two Aussie Banks involved.

jpinx has pointed out that this transfer may also have a cost.

Hmm its getting pretty finite to consider using a non bank source converting the A$ to Bht before you send it!