Money Transfer - Best Option

[mutyim]

Hi All TV PPL,

Please advise on the follwing. What is the bets way to transfer large amounts from my Thai Bank to Philiphines Bank.

Looking for the best rates and method to save on this. Thai rates seem to lose alot in the first instance, with 1200THB overseas bank transfer charges as well and low rate it is a loss.

Thanks all.

[allane]

I think the only practical way to do it is via SWIFT transfer. To do that you need the SWIFT code of the receiving bank, branch name, name of account holder and account number. You may also be asked for the street address of the bank head office and street address of the branch. Strictly speaking, these are not required, and might even serve to confuse matters. Have this info. ready, and give it only if you are asked for it. Cost of a SWIFT transfer is a few hundred baht.

I think it might also be possible to send a bank draft by mail, but that can take weeks or months, waiting for the cheque to come back to your branch, and with uncertainties related to the movement in exchange rates while you are waiting for that to happen.

[allane]

I think the only practical way to do it is via SWIFT transfer. To do that you need the SWIFT code of the receiving bank, branch name, name of account holder and account number. You may also be asked for the street address of the bank head office and street address of the branch. Strictly speaking, these are not required, and might even serve to confuse matters. Have this info. ready, and give it only if you are asked for it. Cost of a SWIFT transfer is a few hundred baht.

I think it might also be possible to send a bank draft by mail, but that can take weeks or months, waiting for the cheque to come back to your branch, and with uncertainties related to the movement in exchange rates while you are waiting for that to happen.

[Rhys]

Well, not sure what a large amount is in your situation.. but fast and reliable, there is always Western Union.. Check the maximun limit. Cheers Mate

[fritzzz25]

use a FOREX company. many of them out there, once you are set up it is quite easy

[Swiss1960]

Depends on what "large amount" means for you... in general, if you want to transfer money out of Thailand, you would need prove where the money came from, i.e. initially brought into Thailand from abroad... without that prove, the Thai bank might not allow you to transfer money out of Thailand

[Gonsalviz]

Swift and transfer in your own currency. I can call my US bank and have the money the next day, usually before noon.