Sending money to Thailand
Sending money to Thailand
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.
Re: Sending money
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.
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
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.
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.
Re: Sending money
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.
If you don't have a Smartphone you can also transfer via your laptop or PC.
“Never argue with an idiot. They will only bring you down to their level and beat you with experience.”
― George Carlin
“The further a society drifts from the truth, the more it will hate those who speak it.” -George Orwell.
― George Carlin
“The further a society drifts from the truth, the more it will hate those who speak it.” -George Orwell.
Re: Sending money
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.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.
Talk is cheap
Re: Sending money
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
does tranferwise work in the opposite direction
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Re: Sending money to Thailand
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
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.
Re: Sending money to Thailand
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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Re: Sending money to Thailand
Check out these providers if they do TH > AU
BahtSmart
WorldFirst
torfx
OFX
TransferMate
BahtSmart
WorldFirst
torfx
OFX
TransferMate
Re: Sending money to Thailand
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.
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.
“Never argue with an idiot. They will only bring you down to their level and beat you with experience.”
― George Carlin
“The further a society drifts from the truth, the more it will hate those who speak it.” -George Orwell.
― George Carlin
“The further a society drifts from the truth, the more it will hate those who speak it.” -George Orwell.
Re: Sending money to Thailand
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
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
Re: Sending money to Thailand
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.J.J.B. wrote: ↑Wed Aug 16, 2017 12:23 pmI 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.
Courage is grace under pressure and when circumstances change you change your mind.