Fast/Best way to transfer money from Thailand to US Bank

[Coconut Kidd]

I don't know if they will do a standard wire transfer, and those can take weeks. Any other options?

 

Would PayPal work?

 

 

Thanks

Edited August 1, 2017 by Coconut Kidd

[NanLaew]

Thai bank will need proof of origin of funds and AFAIK this is limited to repatriation of funds from selling of a condominium (which was initially purchased with funds from overseas exclusively brought in for this condo purchase) and repatriation of earnings in Thailand with a Thai work permit required as evidence of qualifying local employment.

Edited August 1, 2017 by NanLaew

[Coconut Kidd]

I should mention it's only about 1500.00 USD and I can have the GF run it through her account if needed.

[NanLaew]

Good point. I am not aware if a Thai bank account holder has a similar proof of origin of funds restriction when it comes to bunging money overseas online.

[ncc1701d]

I saw an advertisement on macrumours.com for transferwise.com seems cheaper and at a good rate. They take their cut of course, but that seems to be about half what I pay at my bank when transferring. My problem is the cut the intermediary banks take in Thailand. It's B1,000 which is too high. So looking at transferwise. The only thing I am in the process of checking is what are the charges to transfer from transfer wise to account in Thailand once it has arrived. 

 

If if you want speed though, I guess PayPal would be the easiest (?)

[ericthai]

Doing a wire transfer from bank to bank takes 3-4 days depending the time of day you go to the bank as there is cut off time.   Paypal will work.  Your girlfriend will need to advise the reason for sending money out of the county. She can say she owes money to someone, they might request proof such as an invoice.  If you are sending then you need to show where the funds originated.  Western union is available too, but their exchange rate is not so good and fee are high, however it will be there immediately. 

[timendres]

PayPal will ding you about 3% on the exchange rate. But it is very easy and convenient.

I have one PP account here tied to my Thai bank account.

I have one PP account in the States tied to my US bank account.

I "send money to another person" from the Thai account to the US account.

No fee, but huge raping on the exchange.

For $1500, the loss on the exchange is similar to the fees to wire.

[Beats56]

World remit works for me now. There is a app for it. I never had a problem sending money I made here back home from the my thai bank. Swift code and it usually is three business days to get deposited in my home county bank. And wasn't a small amount either.

[Coconut Kidd]

Great info and appreciated much. I'll check out some of the newer apps, and have another look at Western Union, it appears you can do that all on-line as well.

 

Thanks you

 

Kidd

[ncc1701d]

2 hours ago, Beats56 said:

World remit works for me now. There is a app for it. I never had a problem sending money I made here back home from the my thai bank. Swift code and it usually is three business days to get deposited in my home county bank. And wasn't a small amount either.

What sort of charges did you have? The amount int was the same as expected amount arrived?

[Coconut Kidd]

I'm probably doing something wrong, but WorldRemit doesn't seem to have a "Send money from Thailand" option. PC version that is.

[maximillian]

Check out TransferWise.com

[Coconut Kidd]

11 hours ago, maximillian said:

Check out TransferWise.com

I'll give that a try....Thanks

 

Kidd

[Beats56]

15 hours ago, ncc1701d said:

What sort of charges did you have? The amount int was the same as expected amount arrived?

As for the swift transfers I don't remember the charges as it was 7 years ago when I was working in Maptaput. From Canada to my bank here it was 15cnd for a swift transfer and sent it in Canadian dollars and let.the bank convert it to baht. As for the world remit I only did it two times with small amounts to test it. Can't remember the cost but it wasn't high as I recall.

[ncc1701d]

Transferwise just wrote back to me. they say there is no charge for transferring from the Thai transferwise to your Thai bank account.

 

for me, there is very little difference between sending it via my bank and intermediary bank (which gives a better exchange rate) and transferwise (gives better fees). They end up cancelling each other out. 

 

[Coconut Kidd]

I just need the money there before the end of the month and reading the comments it appears a standard wire transfer from bank to bank is about 3-5 business days?

 

I am sending 1000 USD now, and if successful will send quite a bit more next month. I can prove where I got the money. Are there any other obstacles I might face?

[hereforgood]

On 8/2/2017 at 8:06 PM, maximillian said:

Check out TransferWise.com

https://www.google.com/url?sa=t&rct=j&q=&esrc=s&source=web&cd=12&cad=rja&uact=8&ved=2ahUKEwitj6Cypr_dAhVFuo8KHX4FC_AQFjALegQIBxAB&url=https%3A%2F%2Fwww.consumeraffairs.com%2Ffinance%2Ftransferwise.html&usg=AOvVaw3m-Uu-KBhU9Iz1n3CrQSET

[Bos Thai]

@timendres Have you transferred money from Thailand to US on PayPal recently? I've setup a US and Thai PayPal account. My Thai bank account is setup and verified on my Thai PayPal account, but it will only let me send money to the US with a credit card.

 

 

[timendres]

7 minutes ago, Bos Thai said:

@timendres Have you transferred money from Thailand to US on PayPal recently? I've setup a US and Thai PayPal account. My Thai bank account is setup and verified on my Thai PayPal account, but it will only let me send money to the US with a credit card.

It has been a long time since I have moved funds to the US from TH via PayPal, and, frankly, I cannot remember exactly how I did it, but I suspect that it pulled the funds from TH against my KBank Debit card, which is tied to PayPal. It definitely pulled the funds from my KBank account.

[marcusarelus]

On 8/2/2017 at 8:06 PM, maximillian said:

Check out TransferWise.com

Can't send money from Thailand.  Who told you that you could?