International transfers (American Bank to Thai Bank)

[Paul3456]

My bank in the US is Capital One 360 (formerly ING Direct) and they don't charge for ACH transfers to another bank.

[Guest King_Midas]

Many reports that transfers from American Banks are currently taking longer than usual averaging 5 days it appears. A transfer of my own to Krung Thai also hit receiving Bank on 5th day including day it was sent (Monday to Friday)

Makes no difference if Swift it appears. May be only a temporary issue

[MM]

My test transfers to Bangkok Bank took 2 days from USA banks.

 

Composed on a mobile phone.

 

 

[jacko]

Many reports that transfers from American Banks are currently taking longer than usual averaging 5 days it appears. A transfer of my own to Krung Thai also hit receiving Bank on 5th day including day it was sent (Monday to Friday)

Makes no difference if Swift it appears. May be only a temporary issue

HSBC to Bangkok Bank.... hours!

[nkped]

Wire transfer to Kasikorn in the wee hours of Friday morning Thailand time posted to my account Monday morning. BTW 31.85 bht to the USD.

[Skate]

Chase Bank lub me to mut.. No transfer free.. :-)

 

But... K-Bank charged me 800/bt a year to have the account.. wtf ?

 

I'll go talk to then next time I'm in Pattaya..

[packhike]

My credit union account to Bangkok Bank account online push a button. Easy, simple, and cheap. Use any bank in USA to send to Bangkok bank via their New York branch.......done.

[nkped]

My credit union account to Bangkok Bank account online push a button. Easy, simple, and cheap. Use any bank in USA to send to Bangkok bank via their New York branch.......done.

Had just about given up hope on you guy. Glad to see you are still top side.

[86Tiger]

I have read this post with interest as it seems inevitably there is always money needed in a thai account.........

 

 

It is interesting the various issues related with different banks. Currently, transfers are a piece of cake for me. I deal with small community bank, the folks there know me and I know them. I shoot an email indicating the amount, receiving bank, get a call over my skype number few minutes later to verify it is actually me or simply call them and ta da, the money appears the next day. What is really great is I have 3 accounts (2 Thailand, 1 Lithuania) and only have to say "send to my Kasikorn account" or "my SEB in Lithuania" and they take care of the rest, so no dealing with keeping up with account numbers, swift codes, etc.

 

But, I can not make the transfer online only via personal contact. I will be in Pattis end of month and plan to open new account with Bangkok Bank and see if I can get online transfers to work.

 

Thanks for all the details, guys!

 

JWP

[jacko]

I have read this post with interest as it seems inevitably there is always money needed in a thai account.........

 

 

It is interesting the various issues related with different banks. Currently, transfers are a piece of cake for me. I deal with small community bank, the folks there know me and I know them. I shoot an email indicating the amount, receiving bank, get a call over my skype number few minutes later to verify it is actually me or simply call them and ta da, the money appears the next day. What is really great is I have 3 accounts (2 Thailand, 1 Lithuania) and only have to say "send to my Kasikorn account" or "my SEB in Lithuania" and they take care of the rest, so no dealing with keeping up with account numbers, swift codes, etc.

 

But, I can not make the transfer online only via personal contact. I will be in Pattis end of month and plan to open new account with Bangkok Bank and see if I can get online transfers to work.

 

Thanks for all the details, guys!

 

JWP

I am not thinking the issue is with the Thai end.

Ex-UK, my transfer is straight forward and can be done without any personal contact, solely on-line, and if I get to it early Thai time I can see the money that day or early the next. Perhaps the advantage of -6or7 hours time shift. I did have to plug in my Thai account details one time which took a bit of verification effort, but since, the details are remembered and reused.

[JONPAT]

Can you walk-in to the Bangkok Bank near Soi 6 and ask in person the amount in cents ? I am not a phone person.

Thanks MM, worked like a charm. Had Schwab bank send test transactions, updated Bangkok bank book, showed bankbook to assistant handing out numbered tickets saying 'test transaction' 'international transfer', she gave me a ticket and said 'desk 10 or 11', those desks are the first two open desks on the left. The lady and her trainee at desk 11 knew exactly what I wanted, trainee printed out info and lady chatted about American banks and how much they charge to transfer money via ACH.

 

This was at the branch across from Soi 6/1 on 2nd road Pattaya. Watch when walking in the parking lot, there is a good sized hole you can twist your ankle in and painfully visit the pavement, mototaxi guys had a chuckle.

[streeteats]

Your probably better off using an atm card to get money from your home bank and than just depositing it. I did a topic on the US ones that don't charge a foreign fee a while back ad some well even reimburse you the fee from the Thai bank. The best ones are usually from the broker accounts like Ameritrade.

[jacko]

I did an international transfer yesterday, off topic as it was from a offshore/ UK bank.

 

It was completely free at the UK end.

It cost 500 baht at the Thai end.

But bugger me, the exchange rate dropped from 50+ (baht/£) when I initiated the transfer (in fact that was why I decided to do it), to 49.6 by the time it landed this AM. Has someone found my old pal Mervyn and prodded him with a stick......?

[JONPAT]

Your probably better off using an atm card to get money from your home bank and than just depositing it. I did a topic on the US ones that don't charge a foreign fee a while back ad some well even reimburse you the fee from the Thai bank. The best ones are usually from the broker accounts like Ameritrade.

Yes, you are correct.

I sent $579.65 from Schwab and my printout from 2nd road BangkokBankshows that I am credited with $574.65 at the NY Branch of Bangkok bank so $5.00 sent for a fee somewhere. I was given 32.39 baht to the dollar for a total of baht 18,612.91

Then another fee of 200 baht was charged before I finally got credited 18,412.91 into my account.

ATM at 18,000 baht a transaction from now on out, hope the exchange rate is reasonable via ATM.

[forcebwithu]

Yes, you are correct.

I sent $579.65 from Schwab and my printout from 2nd road BangkokBankshows that I am credited with $574.65 at the NY Branch of Bangkok bank so $5.00 sent for a fee somewhere. I was given 32.39 baht to the dollar for a total of baht 18,612.91

Then another fee of 200 baht was charged before I finally got credited 18,412.91 into my account.

ATM at 18,000 baht a transaction from now on out, hope the exchange rate is reasonable via ATM.

 

Bangkok Bank Fees:

ACH transfer BKK New York charges as follows

The fee for depositing the baht in your bank here is 0.25% up to 500 Baht (min 200 baht)

 

For those moving small amounts it would be more cost effective to use an ATM, but for those who move several months of living expenses at a time the ACH transfer makes more sense.

Edited March 3, 2015 by forcebwithu

[JONPAT]

K-Bank ATM transaction with the SCHWAB card had 35.95 baht per dollar.

 

Edit: that was 12th of December and the exchange booth was giving 35.64 to the dollar.

Edited December 12, 2015 by JONPAT

[Gary]

Three days ago I made a $24,000 dollar transfer from Citibank to Siam Commercial. Citibank charges a flat $35 but they steal another $10 using an intermediary bank which is also Citibank. During week days I have the money in my account within hours. After the Siam Commercial fee, which I really don't know how much it was, I got 35.87 baht per dollar. Since I made the transfer, I look for the dollar to gain on the baht simply because I made transfer when I did.

 

Years ago I used my Citibank ATM card. There was no fee and the Thai banks also had no fee. Citibank then started charging 1% and shortly after that, the Thai banks also had a fee. When Citibank got up to 3% I put the card in a drawer and haven't used it since. I'm certainly not in love with Citibank. In fact I have been trying for several years to find a replacement bank but the other banks have quirks too. Most refuse to do a wire transfer totally via the Internet.

Edited December 13, 2015 by Gary

[MM]

Bangkok Bank ACH transfer, Gary!

[Bob Belzy]

Sick of tired of all the banks. I can get a transfer from the leading Australian bank to the leading Thai bank in around 24 hours. Australian bank fucks me on the exchange rate and charges me a $20 fee on top, Thai bank charges 600 Thb for doing fuck all.

Edited December 13, 2015 by Bob Belzy

[mike_asia]

K-Bank ATM transaction with the SCHWAB card had 35.95 baht per dollar.

 

Edit: that was 12th of December and the exchange booth was giving 35.64 to the dollar.

Does that Schwab card have any fees from it or the thai Bank? Or is the 200 baht fee from kasikorn refunded?

[Gary]

Bangkok Bank ACH transfer, Gary!

 

I only do about two wire transfers a year. Looking at it that way, it's only a fraction of a percent for fees. I also use Citibank bill pay for misc. bills in the US. It is free.

[MM]

Does that Schwab card have any fees from it or the thai Bank? Or is the 200 baht fee from kasikorn refunded?

 

Schwab refunds all bank fees so you get the TT rate when you use the ATM.

 

I only do about two wire transfers a year. Looking at it that way, it's only a fraction of a percent for fees. I also use Citibank bill pay for misc. bills in the US. It is free.

Open a Bangkok Bank Account, send your Citibank transfer to that USA account (no fee) and then it shows up in your Thai Bangkok Bank account.

[JONPAT]

Does that Schwab card have any fees from it or the thai Bank? Or is the 200 baht fee from kasikorn refunded?

Schwab refunds the 200 baht (in dollars) at the end of the month.

[forcebwithu]

 

I only do about two wire transfers a year. Looking at it that way, it's only a fraction of a percent for fees. I also use Citibank bill pay for misc. bills in the US. It is free.

 

 

 

Schwab refunds all bank fees so you get the TT rate when you use the ATM.

Open a Bangkok Bank Account, send your Citibank transfer to that USA account (no fee) and then it shows up in your Thai Bangkok Bank account.

 

As MM stated, ACH transfer to Bangkok Bank is the most economical way to transfer funds to Thailand.

 

If you're really intent on continuing to use wire transfers, Chase allows online initiated wire transfers. It's what I used to use until I switched to using ACH transfers.

[MM]

Schwab refunds the 200 baht (in dollars) at the end of the month.

Interesting. I think it depends on the account type at Schwab. My ATM charge refund is given as a credit along with the debit for the amount I withdrew on the nearest following business day. It's a lot easier (for me) to track that way too.

 

I have a friend who gets his refund like you, at the end of the month, and we have different account types, so figure that's the reason.