Overseas Pensions

[oldsailor35]

What is the cheapest and easiest way to get ones pension paid into a Thai bank account.

[Jessi]

From What Country?

[tom21]

never asked. just give my bank details to the pension provider

[meatboy]

there's no cheap way,unless you have it paid into your acc.in your country and trans.once a yr.[not in thai currency] by swift.

your pension provider will transfer but you will loose out on the exchange rate.

[KhunBENQ]

there's no cheap way,unless you have it paid into your acc.in your country and trans.once a yr.[not in thai currency] by swift.

your pension provider will transfer but you will loose out on the exchange rate.

Yes. if one has the necessary financial cache its best to accumulate the money in your country and then transfer a larger amount than a single month pension. If you watch the exchange rates you will also find the "right moment" to gain. Larger amounts result in lower percentage of fees.

Transfer:

either by wire transfer (Swift) or

by ATM withdrawal: I don't want to start the 1000th thread about this, but depending from where you come, there are still banks that offer free withdrawals even reimbursing the Thai banks ATM fee. If you have/find such a bank, that is the most cost effective.

Just for amusement :

the most cost effective method for smaller amounts is cash exchange!

The best money exchangers in Bangkok or Pattaya give a better result than any wire transfer or ATM withdrawal.

Sure: don't let someone send cash per mail!

[oldsailor35]

From What Country?

Australia

[bill1369]

My money comes from US Treasury directly transferred to BKK Bank. But, a caveat, the money is first deposited into BKK Bank's NYC branch. That branch takes out a fee - $5 to $10 depending on amount deposited (I have 4 separate government accounts deposited). The NYC branch then transfers the money to BKK Bank's head office on Silom which then takes out 204 baht for each deposit. But it's hassle free and deposits are always in my account on date they are supposed to be deposited.

[KhunBENQ]

which then takes out 204 baht

So you receive about 81000 Baht

[Suradit69]

My money comes from US Treasury directly transferred to BKK Bank. But, a caveat, the money is first deposited into BKK Bank's NYC branch. That branch takes out a fee - $5 to $10 depending on amount deposited (I have 4 separate government accounts deposited). The NYC branch then transfers the money to BKK Bank's head office on Silom which then takes out 204 baht for each deposit. But it's hassle free and deposits are always in my account on date they are supposed to be deposited.

I have my pension, investment income and Social Security deposited in my Chicago bank and then make transfers to Bangkok Bank in New York when and in the amount I choose, which reduces the bank charges to $10 (usually) in New York and Baht 200 (usually) in Thailand rather having to pay the fees for multiple deposits. Not a major savings, but I prefer having some control over the amount of transfers and I'm a cheapskate when it comes to paying unnecessary bank charges.