Easiest Wire transfers from USA?

[soirunner 0]

I am trying to find a bank that will allow me to wire money from USA to Thailand whike I am in Thailand. I have found most banks and my current credit union DO NOT allow international wires unless I am present in the USA office to do the paper work. I have contacted ING, several local banks, Fidelity, etc. Waiting to hear from Citi Bank as they have an office in Bangkok.

Basically I want to wire my social security and IRA moneu I use for monthly expenses.

Thanks

[Gary 4,096]

I am trying to find a bank that will allow me to wire money from USA to Thailand whike I am in Thailand. I have found most banks and my current credit union DO NOT allow international wires unless I am present in the USA office to do the paper work. I have contacted ING, several local banks, Fidelity, etc. Waiting to hear from Citi Bank as they have an office in Bangkok.

Basically I want to wire my social security and IRA moneu I use for monthly expenses.

Thanks

 

 

Citibank Bangkok may as well be Citibank bumfuck no where. I damaged my Citibank ATM card and they refused to help me in any way. The wouldn't even request a new card for me. That said, I use Citibank US for wire transfers. I am able to do the transactions online with no problems. If I request the transfer on a business day the money is always in my Siam Commercial account the next day. The fee is a flat $30 US regardless of the amount of the transfer.

[Kev 173]

Citibank Bangkok may as well be Citibank bumfuck no where. I damaged my Citibank ATM card and they refused to help me in any way. The wouldn't even request a new card for me. That said, I use Citibank US for wire transfers. I am able to do the transactions online with no problems. If I request the transfer on a business day the money is always in my Siam Commercial account the next day. The fee is a flat $30 US regardless of the amount of the transfer.

Mmmmm believe Citibank has been hit hard by the crisis

[js007 795]

Call and talk to Bank of America. You may need to set up some sort of a phone password and such beforehand, but from what they told me when I asked, you could request the wire transfer over the phone. So far, I've never tried it, as I usually just use the ATM.

 

I have found a bank that allows for free ATM withdrawals: Washington Mutual.

 

J

[Eneukman 1]

Surely, the banks in the USA could do what I had to do with my bank in the Isle of Man - complete a form giving full details if your Thai bank account and the password you propose using when giving transfer instructions. This allows me to transfer funds either over the internet or by telephone.

 

Alan

[redwood13 56]

From what I've read and experienced US banking laws require you to apply in person at your US bank in order to transfer funds out of the USA.

 

I applied at my bank (Wells Fargo) in person for a repetitive wire transfer agreement. This allows me to request wire transfers for a period of several years. I telephone the USA and give them my details including a ID code number and the money, in US dollars, is transferred to my Bangkok Bank account using its SWIFT code. A call at midnight sees the money in my account here by late afternoon. Some banks will allow you to request transfers by email and/or fax once the paperwork has been done.

 

AFAIK you'll have to wait until you return to the US to initiate this process.

 

-redwood

[Eneukman 1]

From what I've read and experienced US banking laws require you to apply in person at your US bank in order to transfer funds out of the USA.

 

I applied at my bank (Wells Fargo) in person for a repetitive wire transfer agreement. This allows me to request wire transfers for a period of several years. I telephone the USA and give them my details including a ID code number and the money, in US dollars, is transferred to my Bangkok Bank account using its SWIFT code. A call at midnight sees the money in my account here by late afternoon. Some banks will allow you to request transfers by email and/or fax once the paperwork has been done.

 

AFAIK you'll have to wait until you return to the US to initiate this process.

 

-redwood

 

I've just phoned my bank and instructed the transfer of funds to cover my purchase of a condo. A couple of questions and a password was all that was required.

 

Alan

[Gary 4,096]

Call and talk to Bank of America. You may need to set up some sort of a phone password and such beforehand, but from what they told me when I asked, you could request the wire transfer over the phone. So far, I've never tried it, as I usually just use the ATM.

 

I have found a bank that allows for free ATM withdrawals: Washington Mutual.

 

J

 

Bank of America charges a flat $40 for a wire transfer. Citibank rips you off for a three percent currency transaction fee when you use the ATM card. Wammu won't allow me to open an account without being a resident of the US. US banks don't much like expats.

[soirunner 0]

Thanks for all the replies! I am in USA now so I canset up an account where the best deal is. I know a friend of mine living in Thailand can transfer money to Thailand using his Schwab account. I just checked out the WaMu web site, I will send them an inquiry

Thanks

[PerpetualTroll 0]

I am trying to find a bank that will allow me to wire money from USA to Thailand whike I am in Thailand. I have found most banks and my current credit union DO NOT allow international wires unless I am present in the USA office to do the paper work. I have contacted ING, several local banks, Fidelity, etc. Waiting to hear from Citi Bank as they have an office in Bangkok.

Basically I want to wire my social security and IRA moneu I use for monthly expenses.

Thanks

 

Call you bank in America - tell them you will fax your id and instructions for a bank wire. They'll do it, you just aren't speaking to the right person. Better to call the branch manager where you bank - the one that knows you and get their fax number.

 

I do it all the time.

[Mescalito 19]

I'm with Bank of America. They gave me a list of banks in Thailand with whom they have formal business affiliations. I'll open an account with one of them (Siam Commercial, probably) on my next trip and since I also have Online Banking with B of A I can link the accounts and initiate wire transfers that way way. It's how I plan to start moving money over there while building up for The Big Move.

[wallyc 0]

On-line banking with B of A works very well. B of A charges $ 3 ( that is three dollars - not an error) and Bangkok Bank charges 500 baht ( at least that is what they are charging me on the last 3 transfers ). Approp $ 18 total and the currency conversion is done in Thailand for the On-Shore rate. Takes about 3 days for the transfer to complete.

 

wallyc

Edited January 17, 2008 by wallyc

[Skylar 0]

The biggest problem you will have currently is opening a new bank account.

Unless you have a one-year visa, work permit or retirement visa, you cannot open a new bank account in Thailand. I have tried a dozen different banks and branches in the last 6 months.

 

If any of you have knowledge that I am unaware of let, let me know.

[js007 795]

Plenty of people have reported opening Thai bank accounts with no more than a 30 day stamp in their passports. I had a one year visa when I opened mine at Siam Commercial Bank, but I don't think they even looked at my passport until most of the paperwork was completed. Basically, I think they just want your money.

 

J

[tko 219]

TDAmeritrade stock broker allows wire transfers to be initiated by fax after you've set up the transfer online the first time. They don't care where you are, only that you fax them the signed authorization form. If you're Apex level they don't charge for the wire transfer, though you're still charged a small amount by the intermediate and receiving banks.

 

WAMU does free wires but you have to go to a branch.

Edited January 17, 2008 by tko

[Skylar 0]

I believe the banking laws have changed in the last 6 months.

 

If anyone with just a 30 or 90 day vias has opened an account in Bangkok or Patts in the last 6 months, please let me know how and where you did it.

[PerpetualTroll 0]

I believe the banking laws have changed in the last 6 months.

 

If anyone with just a 30 or 90 day vias has opened an account in Bangkok or Patts in the last 6 months, please let me know how and where you did it.

 

Try Kasikorn - very friendly.

[Gary 4,096]

I believe the banking laws have changed in the last 6 months.

 

If anyone with just a 30 or 90 day vias has opened an account in Bangkok or Patts in the last 6 months, please let me know how and where you did it.

 

A friend of mine wanted to open an account with Siam Commercial Bank. He wanted Siam bank because it was in a convenient location. They would not allow him to open the account with a tourist visa. I took him to immigration and we explained to immigration that the bank wouldn't allow my friend to open an account and that he had to have a bank account to get his retitrement visa. Immigration gave him a paper to give to the bank. I have no idea what the paper said (Thai) but Siam Commercial opened an account for him and gave him an ATM card the same day. My friend was over 50 years old so I don't know if immigration would help a younger guy.

[joekicker 53]

Great story, Gary -- and by the way a great story about your wife and her friend with cancer, good for her and you for telling about it.

 

The thing to remember here is that actually you are not allowed to open an account unless you have a non-immigrant visa or above -- BUT individual bank branches will open one for you if you go looking, and keep a smile on your face.

 

The thing to remember here is that this is Thailand and everything can be done no matter what the stupid laws and regulations happen to say, because there is ALWAYS a loophole.

 

For those who believe strongly in the rule of law and are willing to take a stand on that -- please open your bank account only after you obtain a non-immigrant visa. Thank you.

[Skylar 0]

When I am in-country I have a hard time wiping the smile off of my face.

 

I will keep trying. I will also try immigration in Jomtien.

 

Thanks boys.

[pattayachip 0]

The biggest problem you will have currently is opening a new bank account.

Unless you have a one-year visa, work permit or retirement visa, you cannot open a new bank account in Thailand. I have tried a dozen different banks and branches in the last 6 months.

 

If any of you have knowledge that I am unaware of let, let me know.

skyler,go to the pattaya expat meeting,in the grand sole hotel on 2nd rd. most of the time banks and hospitals have special deals that otherwise are not available for the general public,hell you could even email tham or better yet get a lifetime membership for 600bht before it goes up

[rogercw 3]

As wallyc said above a combination of Bank of America and Bangkok Bank works fine. In your Bank of America account click Transfers and when that screen comes up click Make a Transfer Outside the Bank then follow directions. It takes a couple days to do the transfer and verify a few cents trick. After that it takes 3 or 4 days to do real transfers. The fee from Bank of America is three dollars like wallyc said. Bangkok Bank gives the deposit a small haircut but you do get the in-country exchange rate.

[jovy444 0]

Retirement auto deposit into Fifth Third Bank. Automatic, monthly-repeating wire transfers from 5/3 to my Thai account with Bangkok Bank. I had no problem opening an account with BB. I have a retirement visa.

[biosludge 0]

I don't know why, but different financial instituions have radically different requirements for wiring money from the USA. My credit union is the easiest. I just send them a secure e-mail requesting a wire transer to my Bangkok Bank or Kbank account, and presto, the money appears the next day. On the other hand, Fidelity Investments where I have an account places all kinds of absurd requirements on Money wire transfers (basically, if you are living outside the US, just forget it). I also have an e-trade account, and they are far more friendly in this regard. Once you have set this feature up (which is not a big hassle), you can request wire transfers on line, and the rate is a flat $25.00 (which is a little bit cheaper than doing it through my Credit Union). The bottom line is: shop around and you will probably find a financial institution that will meet your needs.

[soirunner 0]

Fidelity is the reason for my problem as that is where my money is and you are correct they are impossible to work with for international transfers