Transfering Money To A Thai Bank Account

[bri1guy]

Is there a free or cheap way to send money to a Thai account from the US? What about Depositing a private check into a Account also?

[johnnyk]

Is there a free or cheap way to send money to a Thai account from the US? What about Depositing a private check into a Account also?

No free way, we are dealing with banks here.

Check around some banks are cheaper than others.

A foreign cheque will be eaten alive by every outfit that handles it. It can lose 30% of its nominal value not to mention take ages to clear and possibility of it being lost etc.

[bolt]

Hi do you have a Thai bank account, if so easy maybe the charge on average is 1,000 baht give or take.

if you dont have a thai bank account then?

Edited October 18, 2006 by bolt

[suiging]

HSBC account in your own country, withdraw from HSBC LOS, with HSBC credit card .

[thaiflyer1]

I transferred 40k pounds sterling earlier this year from the Uk to my account with Siam Commercial Bank and never got charged at the Thai end.

Did get charged at the Uk end though 18 pound.

Edited October 19, 2006 by thaiflyer1

[suiging]

I transferred 40k pounds sterling earlier this year from the Uk to my account with Siam Commercial Bank and never got charged at the Thai end.

Did get charged at the Uk end though 18 pound.

Yes, if you TT the money charges are loaded at the front end . I have transferred quite large amounts for building work to accounts with SCB and only charged at UK end.

[prism]

Is there a free or cheap way to send money to a Thai account from the US? What about Depositing a private check into a Account also?

Probably the best way to send money into Thailand is to have your US bank wire the funds to your Thai bank account. Your US bank will charge you a nominal fee for this, maybe around $30.00. I never been charged for this service by a Thai bank. You'll be able to get the required paperwork from the Thai bank for proof of the source of funds if you should desire to buy a condo or obtain a visa if you follow this route. Make sure you have the funds transfered in US dollars for the best exchange rate.

[pnustedt]

My main bank a/c is with HSBC in HK and I have a deposit a/c with Bkk Bank in Thailand. This Bkk Bank a/c is registered with my HSBC a/c for internet transfers and this enables me to transfer up to Bt4.75mil/day to Thailand. It normally takes 12-24 hrs, the TT charges for my last transaction (about Bt2mil) were about Bt600 and I got a good exchange rate.

I was told that depositing a cheque with Bkk Bank would take up to 40 days for the transfer, was expensive and the beneficiary a/c must be more than six months old.

Edited October 19, 2006 by pnustedt

[eddie eagle]

HSBC account in your own country, withdraw from HSBC LOS, with HSBC credit card .

If you are a Brit there are better and cheaper alternatives to HSBC.

HSBC charge a ATM fee (about GBP 4.50 on THB 20,000) and levy a transaction / currency exchange fee of 1.75% on top of the daily buying / selling rate. I used to use HSBC but now have a Nationwide Flex Account (easy to open) and get a much better deal, no ATM fee and no 1.75% on top of the daily buying / selling rates.

If you are a Brit then get yourself a Nationwide account and save GBP 9.50 per transaction or if you prefer have enough for a free ST on Nationwide every time you use the ATM.

If you are transferring a large amount from Bank to Bank i.e. GBP 10,000 upwards then HSBC is ok.

Edited October 19, 2006 by eddie eagle

[rocky]

When you send the money from America, on the sending form tick the box you pay all fees, this keeps the costs down. You will then only get charged once for sending the money

What i find to be a con though is the bank charge you to send the money, then take 0.5-1.5bht in every dollar as a currency charge. Rip Rip Rip

[hgvneil]

I have a nationwide account in th u.k.Whenever i send a few grand sterling to my siam commercial bank account,i pay 20 pounds in u.k to send it but always end up paying roughly the same again when the bank recieves it.. But yes,if you have a nationwide account you can use the card to withdraw from any ATM and dont pay any commision.

[Pink Mist]

We have the accounts here in Oz and sent cards to LOS, you want to transfer money, just use internet banking to move money between accounts, Westpac charge AUD$5.00 per ATM transaction.

[Tolley]

Bronco

Wizard now have a mastercard that has no ATM fees and no foreign exchange conversion fees i think this is the best deal you could ever get.

As long as you pay the money back before the end of the month you are laughing.

Everytime you withdraw money from an ATM if you are using an overseas card they charge you an ATM fee which is shown on your statement but the nasty one is the conversion fee which is not generally shown on your statement but is as much as 20 - 30 dollars for a 500 dollar withdrawl.