Sending money to Thailand

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hulltoon
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Sending money to Thailand

Post by hulltoon » Fri Aug 04, 2017 2:32 am

I will be sending a large sum of money to Thailand.Would like to know the safest and best way to send it from Australia.Cheers.

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Re: Sending money

Post by Nereus » Fri Aug 04, 2017 9:52 am

Do you have a Thai bank account? I use my Australian bank (NAB) to TT funds at a cost of AUD $30, and my Thai bank charges a maximum of Baht 500 to receive it.
BUT, you must insist that the funds are sent in Australian Dollars as you will get a much better exchange rate.
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Re: Sending money

Post by Bazoo » Fri Aug 04, 2017 11:21 am

If you have a smart phone download an App called TransferWise. You will also need a bank account in Thailand.

Mid market rates and typically if you send £1000 the charge is around £5.

Takes a few minutes to set up but once done it only takes a few clicks and the money has been sent.

Cash is cleared in 3 days or less.

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Re: Sending money

Post by sateeb » Fri Aug 04, 2017 1:12 pm

I've been using TransferWise for over a year now ( Sterling to THB). A lot cheaper and quicker than my bank and a much better rate. They tell you exactly how much to expect and the date of arrival, usually no more than 2 working days.

If you don't have a Smartphone you can also transfer via your laptop or PC.
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Re: Sending money

Post by caller » Sat Aug 05, 2017 12:29 am

sateeb wrote:
Fri Aug 04, 2017 1:12 pm
I've been using TransferWise for over a year now ( Sterling to THB). A lot cheaper and quicker than my bank and a much better rate. They tell you exactly how much to expect and the date of arrival, usually no more than 2 working days.

If you don't have a Smartphone you can also transfer via your laptop or PC.
It seems the banks are responding to the various transfer companies in a positive way. On the 26th July, I got my transfer UK bank to Thai bank on the same day. Prior to that, and possibly in the future as well, as I'm not sure that was a one-off, as long as I transferred across before 3pm UK time, the payment would arrive in my Thai account the following morning. Cost is a flat fee of a tenner.
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STEVE G
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Re: Sending money

Post by STEVE G » Tue Aug 15, 2017 6:07 pm

Bazoo wrote:
Fri Aug 04, 2017 11:21 am
If you have a smart phone download an App called TransferWise.....
I do quite a lot of international transfers so this got me interested, I checked it out with a couple of financial professionals I know and then gave it a try, from UK to Europe to start with and it's efficient and cheap, so it's a good recommendation. ( I didn't bother with the App, it was easy enough to use from their web page.)

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Re: Sending money to Thailand

Post by oakdale160 » Tue Aug 15, 2017 11:59 pm

does tranferwise work in the opposite direction

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Re: Sending money to Thailand

Post by StevePIraq » Wed Aug 16, 2017 11:18 am

I transfer from Australia to Thailand from my Westpac account in Oz dollars, Oz cost is AU$20 per transfer, usually arrives the next day. 500Baht fee at my Thai bank. Never an issue.
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Re: Sending money to Thailand

Post by STEVE G » Wed Aug 16, 2017 12:13 pm

oakdale160 wrote:
Tue Aug 15, 2017 11:59 pm
does tranferwise work in the opposite direction
I just tried that and it doesn't seem to be an option, you can go from major currencies to Thai baht but not the other way round.

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Re: Sending money to Thailand

Post by J.J.B. » Wed Aug 16, 2017 12:23 pm

STEVE G wrote:
Wed Aug 16, 2017 12:13 pm
oakdale160 wrote:
Tue Aug 15, 2017 11:59 pm
does tranferwise work in the opposite direction
I just tried that and it doesn't seem to be an option, you can go from major currencies to Thai baht but not the other way round.
I have had the same experiece with CurrencyFair and XE.com. They both allow you to buy Thai Bhat but neither of them are able to buy it back, it seems the Thai banks are pretty much the only route to a transfer of THB out of the country.
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Aussie69
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Re: Sending money to Thailand

Post by Aussie69 » Wed Aug 16, 2017 1:01 pm

Check out these providers if they do TH > AU

BahtSmart
WorldFirst
torfx
OFX
TransferMate


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Re: Sending money to Thailand

Post by sateeb » Thu Aug 31, 2017 3:29 pm

Just a quick update on Transferwise:-

5 a.m. requested transfer and monies in my Thai a/c by 1.30pm same day, the quickest transfer yet. If I had gone with my Bank i would think it would have arrived on Monday or Tuesday.

I used the debit card option which seems to be the quickest.
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Re: Sending money to Thailand

Post by Jimbob » Fri Sep 01, 2017 6:06 am

I regularly send money to Thailand for the Aussie based Gf so she can buy Thai cosmetics etc.
We use Xwing in Sydney. once registered I just roll up and hand over cash with no fees and same day service. Interesting to cue up behind the working girls, massage girls etc and see wads of dollars being handed over.
Now also using PT Money. They are on (Thai) Facebook and Line. I transfer money to their commonwealth bank account. copy the transfer details and send it to them with the Thai bank account details. usually same day service no fee

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Re: Sending money to Thailand

Post by PET » Fri Sep 01, 2017 7:21 pm

J.J.B. wrote:
Wed Aug 16, 2017 12:23 pm
STEVE G wrote:
Wed Aug 16, 2017 12:13 pm
oakdale160 wrote:
Tue Aug 15, 2017 11:59 pm
does tranferwise work in the opposite direction
I just tried that and it doesn't seem to be an option, you can go from major currencies to Thai baht but not the other way round.
I have had the same experiece with CurrencyFair and XE.com. They both allow you to buy Thai Bhat but neither of them are able to buy it back, it seems the Thai banks are pretty much the only route to a transfer of THB out of the country.
Going from Thai Baht to another currency I would expect the rate to be better from the Thai Bank, as they have more use for it.
VERAX - What matters in life is not where you are from but where you are going.

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