Bank Taxing Money?

[Jimbob1]

I have been sending money for a woman I met last June to try help her out and she sends me an email ... here is an extract.

You send me money 5000 B but

i get only 3000B after tax.

I am finding it hard to believe that the bank would do this?? It is The Siam Commercial Bank Naklue Rd ....

Maybe I am naive but this seems to be excessive bank charges or for a bank to even pull this as "TAX"?

I am a pensioner and just trying to help but .....

I want to tell you about money,your money me

useful for pay room 2000 B and pay for anything so the money not enough.

I know it sounds like I am being 'had' but if she is correct then I can make an alternate payment method.

So does anyone have the facts on money transfers and any idea why such a large fee?

Thanks , Jim

[awayfoe]

I have been sending money for a woman I met last June to try help her out and she sends me an email ... here is an extract.

You send me money 5000 B but

i get only 3000B after tax.

I am finding it hard to believe that the bank would do this?? It is The Siam Commercial Bank Naklue Rd ....

Maybe I am naive but this seems to be excessive bank charges or for a bank to even pull this as "TAX"?

I am a pensioner and just trying to help but .....

I want to tell you about money,your money me

useful for pay room 2000 B and pay for anything so the money not enough.

I know it sounds like I am being 'had' but if she is correct then I can make an alternate payment method.

So does anyone have the facts on money transfers and any idea why such a large fee?

Thanks , Jim

jim

it's not tax ! it's the minimum charge for this kind of operation with bank transfer !

the best way for sending small money is Western Union and you pay the commision transfer in your country ! like this it's net cash money in thailand

[Bizz]

wery interesting thread

[Jimbob1]

The thing is I have payed a $20 transfer fee from my bank ?

So you say that they are charging 2000 Baht ($74 AU ) to accept my money?

I have sent an email to The Siam Commercial Bank and hope to get a reply but was wondering if anyone else has come across this in sending money to Thailand??

Thanks , Jim.

[bluedragon]

I send about $450 each month, and my bank charges me $25 international wire fee, for a total withdrawal from my bank of $475. According to my girlfriend her bank ,(Bangkok Bank) charges her about 500 baht to receive the money. Hope this helps. Regards, BD

[swain]

Been wiring money to the same bank for over 2 years now. No tax, no fees that I have run into other then my wire fee I pay to get the money over there. Exchange rate seems to be in line. Sorry but it sounds like bunk to me.

[Totster]

The thing is I have payed a $20 transfer fee from my bank ?

So you say that they are charging 2000 Baht ($74 AU ) to accept my money?

I have sent an email to The Siam Commercial Bank and hope to get a reply but was wondering if anyone else has come across this in sending money to Thailand??

Thanks , Jim.

I made a couple of transfers a few years ago... on the transfer form I could check a box to pay all fees at that point. Maybe this is possible with your bank

I have to say though that bt2000 seems far too high, and from experience when I didn't pay the fees when transferring it was only about bt500

totster

[fat boy slim]

I have been transfering 1000 pounds every month to myself from England for about six years and with my bank there is a fee of 25 pounds in England to send whatever amount you want and then no fee in Thailand. The exchange rate is also good.

Through experience I have learned a couple of tips. Always send your money in the currency of your country, ie dollars or Sterling and always make sure the bank you are sending it to in Thailand is a "sister " bank of the one you use in your country. When I mean sister I mean they deal with them all the Time.

For example HSBC bank is the sister bank with Krung Thai, my bank in Thailand. I believe Nat west has an arrangment with Bangkok bank etc.

Years ago My father sent some money over for himself (10,000 pounds)to my bank( krung Thai ) but he sent it from The Nat west In England. It went to the main clearing house in Bangkok then to a Bangkok bank in Pattaya and then to my Krung Thai bank in pattaya. By the time I received it, at the current rates there was only 9,500 pounds in my account. After much complaining, the explaination given was the one I said above that I used the wrong bank to send it. This was about seven years ago so the system may have changed now, but it may be an answer for you. Hope this has been of help.

[Jimbob1]

Hey this is great feedback !

I have been considering 2 options right now to get me out of this 'extortion' (if it is the bank) ...

1. Send money via Western Union and pay $35 transfer fee.

2. Open an account here in Oz and send her the ATM card which only attracts a $5 per transaction fee and I can manage my account on-line and make sure I know what is coming in and out and a weekly transaction will bring the fee to what I now pay to send from here once a month without the bank grabbing a commission at the Thailand end.

I have still yet to hear from The Siam Commercial Bank as to what explanation they might give for the excessive charges and hope that it is not a 'Bunk' from what my lady tells me as I would like to believe she is telling me the truth and I am believing her at this point as she, I believe , is an honest person.

JIM

[Noel]

I have been sending money for a woman I met last June to try help her out and she sends me an email ... here is an extract.

You send me money 5000 B but

i get only 3000B after tax.

I am finding it hard to believe that the bank would do this?? It is The Siam Commercial Bank Naklue Rd ....

So does anyone have the facts on money transfers and any idea why such a large fee?

Thanks , Jim

Siam Commercial charge ฿300 for outward internatonal transfers, although they do not mention charges for inward remittances on their website.

No way would they charge ฿2,000 IMHO. I transfer money in to a SCB account once per year and the net receipt (after charges, if there are any) always lines up with the exchange rate of the day of receipt.

How did you send the money?

Either the charges were at the front end, or your lady friend is errrmm, 'mistaken'...

[pap]

I have been sending money for a woman I met last June to try help her out and she sends me an email ... here is an extract.

You send me money 5000 B but

i get only 3000B after tax.

I am finding it hard to believe that the bank would do this?? It is The Siam Commercial Bank Naklue Rd ....

So does anyone have the facts on money transfers and any idea why such a large fee?

Thanks , Jim

Siam Commercial charge ฿300 for outward internatonal transfers, although they do not mention charges for inward remittances on their website.

No way would they charge ฿2,000 IMHO. I transfer money in to a SCB account once per year and the net receipt (after charges, if there are any) always lines up with the exchange rate of the day of receipt.

How did you send the money?

Either the charges were at the front end, or your lady friend is errrmm, 'mistaken'...

I have seen quite high fees on out of country checks as well as transfers. 35 dollars american to xfer from international bank to Thai banks is not uncommon. If large amounts over 100k fees are often waived with a business relationship with the bank. Western Union is probably a good bet for personel stuff. I doubt it is a tax. It is probably bank fee's. Your lady may be misunderstanding the fees or not be able to explain them properly to you. That does seem high however even for bank fees. Several options are available for Thai banks that have online servicing and are in English.

Your idea of sending her an atm card and controlling the account outside Thailand is interesting. Hadn't thought of that or expanded on how else that could be used. Interesting. Lots of possibilities with that one and so simple since many atm's can have very high limits.

[hiromj]

Hey this is great feedback !

I have been considering 2 options right now to get me out of this 'extortion' (if it is the bank) ...

1. Send money via Western Union and pay $35 transfer fee.

2. Open an account here in Oz and send her the ATM card which only attracts a $5 per transaction fee and I can manage my account on-line and make sure I know what is coming in and out and a weekly transaction will bring the fee to what I now pay to send from here once a month without the bank grabbing a commission at the Thailand end.

I have still yet to hear from The Siam Commercial Bank as to what explanation they might give for the excessive charges and hope that it is not a 'Bunk' from what my lady tells me as I would like to believe she is telling me the truth and I am believing her at this point as she, I believe , is an honest person.

JIM

I think option 2 would be your best bet.

I have heard that there is credit card that you can give her and you transfer the money to it from another credit card. Sorry but I forgot what the name is. A friend used this method a lot. An internet search may be able to locate it.

[barryofthailand]

I have accounts with SCB, and Krung Thai Bank and neither bank charges transfer fees for incoming transfers. Either one or two things are happening.

Due to the exchange rate you might think you are transfering 500 baht, or the most obvious is that if she lives in Pattaya she is stroking you.

Most of the single women in Pattaya and even a few married ones tell really good stories and westerners believe them and send money every month.

I once new one young lady that had five men from the U.S. sending money every month. She had a good business going, tax free.

Barry

[Nam Kao]

Stop sending her $$$, you are being conned

Send it to someone who really needs it, give it to a good charity, dont be a kwai

nam

[Jimbob1]

Stop sending her $$$, you are being conned

Send it to someone who really needs it, give it to a good charity, dont be a kwai

nam

Its not as though she is asking for more money just to send it where it isn't whittled down.

This woman is from Korat and is 40 without an education but intelligent enough.

She doesn't drink or smoke and is a battler.

She is a very good masseur and like some of the older ladies has 'the touch' and having been to visit her family in Korat and found them to be genuinely hospitable people, while we were there neighbors and family were lining up for massages.

She is a very caring person and it isn't a lot of money I send her but I do know it makes a difference in her life so I will see how things 'pan' out as I will be back in Thailand for 3 months next trip and living together and taking care of her as she will take care of me.

I have been to Thailand in '86, '87 and again this year and think I do have a bit of knowledge as to the spivs that occur.

I think their comes a time you do have to trust someone sometimes

I am 54 and would like to spend what may be the last 20 years of my life with someone that cares for me.

I could be proven wrong but this world would be a crappy place if you didn't at least give someone the benefit of the doubt.

JIM

[pap]

Stop sending her $$$, you are being conned

Send it to someone who really needs it, give it to a good charity, dont be a kwai

nam

Its not as though she is asking for more money just to send it where it isn't whittled down.

This woman is from Korat and is 40 without an education but intelligent enough.

She doesn't drink or smoke and is a battler.

She is a very good masseur and like some of the older ladies has 'the touch' and having been to visit her family in Korat and found them to be genuinely hospitable people, while we were there neighbors and family were lining up for massages.

She is a very caring person and it isn't a lot of money I send her but I do know it makes a difference in her life so I will see how things 'pan' out as I will be back in Thailand for 3 months next trip and living together and taking care of her as she will take care of me.

I have been to Thailand in '86, '87 and again this year and think I do have a bit of knowledge as to the spivs that occur.

I think their comes a time you do have to trust someone sometimes

I am 54 and would like to spend what may be the last 20 years of my life with someone that cares for me.

I could be proven wrong but this world would be a crappy place if you didn't at least give someone the benefit of the doubt.

JIM

It is a crappy world..... and a great one.

[Thai-Spy]

Western Union is convenient but expensive. Money Gram has much better rates in most cases.

[Chang_paarp]

Its not as though she is asking for more money just to send it where it isn't whittled down.

This woman is from Korat and is 40 without an education but intelligent enough.

She doesn't drink or smoke and is a battler.

She is a very good masseur and like some of the older ladies has 'the touch' and having been to visit her family in Korat and found them to be genuinely hospitable people, while we were there neighbors and family were lining up for massages.

She is a very caring person and it isn't a lot of money I send her but I do know it makes a difference in her life so I will see how things 'pan' out as I will be back in Thailand for 3 months next trip and living together and taking care of her as she will take care of me.

I have been to Thailand in '86, '87 and again this year and think I do have a bit of knowledge as to the spivs that occur.

I think their comes a time you do have to trust someone sometimes

I am 54 and would like to spend what may be the last 20 years of my life with someone that cares for me.

I could be proven wrong but this world would be a crappy place if you didn't at least give someone the benefit of the doubt.

JIM

Jim

If you decide to go the ATM card route explain to the lady that every time she uses the card it costs her 300-500B of her money. If she is as frugal as she appears you will notice that it is used only 1 or 2 times a month.

A little trust can go a long way.

[Jimbob1]

Jim

If you decide to go the ATM card route explain to the lady that every time she uses the card it costs her 300-500B of her money. If she is as frugal as she appears you will notice that it is used only 1 or 2 times a month.

A little trust can go a long way.

Thankyou ... he he ... you are so right and if it were me using ATM I would too ...

OOps hang on ... I do ...

[billd766]

Stop sending her $$$, you are being conned

Send it to someone who really needs it, give it to a good charity, dont be a kwai

nam

About 11 years ago I used to send my girlfriend about 15,000 a month for the best part of 4 years and I never asked her what she spent it on.

Does that make me as stupid as you think I am to be conned for those 4 years?

I married her 6 years ago and we have a 2 year old son.

Now I give her nothing but we have a joint bank account both here and offshore and if she takes money out she always tells me.

Please don't tell me that there are always exceptions as that works both ways.

I think that there are more honest women in Thailand than dishonest.

I also think that there are more falangs willing to run ALL Thai women down without knowing the facts.

[thatguy]

for a few years now, the wife has had an atm card from an account i have here in the US. exchange rate is good, $1.25 bank charge. i got a notice that they are going to start charging a foreign exchange fee similar to credit cards, but I haven't seen it yet. atm is the easiest, cheapest way to go.

[Chang_paarp]

for a few years now, the wife has had an atm card from an account i have here in the US. exchange rate is good, $1.25 bank charge. i got a notice that they are going to start charging a foreign exchange fee similar to credit cards, but I haven't seen it yet. atm is the easiest, cheapest way to go.

It would still be cheaper than bank transfer or Western Union or several others.

[Mobi]

There is no reason for you to doubt your lady's honesty until you have evidence to the contrary. From what you have said she certainly sounds like a genuine person.

However, there are certainly a lot of bad eggs around so please be careful.

It shouldn't be hard to get to the botttom of this. Just ask her to retain the bank documentation, and ask her to send you a copy (or get someone to scan it and email it to you), or inspect it on your next visit. In the meantime give her the benefit of the doubt. If she cannot produce the document, then I would start to worry.

I know many people recommend using atm's linked to foreign bank accounts, and in the Uk everyone seems to extoll the virtues of Nationwide as the best way to access sterling abroad. However, I know for a fact that many banks, even though they make no explicit charges for using their atm's overseas, are actually screwing you on the exchange rates they apply as away to levy charges. I actually had an official from Abbey national confirm this to me when I was aking her if it was cheaper to TT money or use my ATM card. She said the TT would definitely work out cheaper, in spite of the fact that there are no explicit fees for using my atm card. So check it out carefully.

[wpcoe]

Another economical option, I believe (I read it from another poster here on ThaiVisa.com), is to have her open a Bangkok Bank savings account. Then have your bank (I'm assuming the OP is American, since he mentioned a $20 transfer fee) electronically transfer funds to Bangkok Bank in New York City. Then for a $5 fee the NYC branch will forward it to the Thai branch. She then withdraws the funds from an ATM with no fee as long as the ATM is in the same province as the branch where the account is held.

The fees to electronically transfer funds from an American bank to Bangkok Bank in NYC vary: the person who posted said he had a Bank of America account and he could transfer the funds online for a $2 fee. I checked with my credit union, and they will transfer the funds with *no* service charge if I do it online.

And, further, if you opt for online-banking (Bua something?) with Bangkok Bank, you can monitor the transactions online from anywhere in the world to verify that the transfer made it, and see how often/when she withdraws the money.

Now, having explained all of that, there may be an even easier way, but I'm just speculating. Bangkok Bank is the only Thai bank that the Social Security and Veterans Administrations can direct deposit to in Thailand. An ex-officer from the Social Security Administration wrote that the way he arranged that was to use the bank code number (from the routing information at the bottom of a check or deposit slip) for the NYC branch of Bangkok Bank, but to use the actual Thai account number as the second set of numbers. I'm not sure if that will work for simple money transfers, or not, but if it did, it could be even easier than the two-step procedure I explained above.

[Firefan]

If you use a wire from your bank it will normally go via Bangkok Bank as corresponding bank in NYC they charge $5. BKK Bank Thailand then charge 500 Baht minimum in receiving charges. So close to $20 in total charges. Cheers!

[Jimbob1]

I am in Australia so the exchange rate on the AU$ is about 27Bt to the $1.

I think for now I will send money Western Union @ $35AU (945Bt) transaction for one month. Then when I go back next February I will have opened an new account with my bank and have an ATM card for her.

When I was there in June/July this year using my ATM with my bank the fee was $5AU per transaction so even using this with one withdrawal a week comes to $20AU for the month, I think thats not bad.

It is nice to see your comment 'billd766' as I like to believe that the majority of Thai people still have the old traditional values and consider "Honor" not to be a dying characteristic of their makeup.

Thanks everyone I do appreciate your feedback.

Cheers , Jim