# Money transfer or ATM fees



## Kiniyeow

My question is how are those that are living in Thailand getting access to there money? Are you just withdrawing it from a local ATM or transfering larger amounts to a bank in Thailand? 

If I remember right, it cost me (from my bank here in the states) $7 total to make a withdraw from the ATM's in Thailand when I was there on vacation, and it costs me $35 to make the bank to bank transfers (at 28.89THB exchange rate). is the exchange rate better just withdrawing funds from the ATM?

What method are you using for getting gaccess to your funds?


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## cnx_bruce

Kiniyeow said:


> My question is how are those that are living in Thailand getting access to there money? Are you just withdrawing it from a local ATM or transfering larger amounts to a bank in Thailand?


There are too many variables to give you a neat & tidy answer. Depends on number and size of withdrawals/transfers, on fees charged and exchange rates provided by transmitting bank/receiving bank and any intermediary bank.

For most people living in thailand the best way is via creating a thai bank account and transferring fewer large transfers into it and then withdrawing with a thai debit/atm card at atm's. Even then, you need to shop around different thai & foreign banks to get the best deal - and of course you need access to internet banking. Best thing is talk to others from you country and see who they use. But even then do your own research before committing as many people are unaware of the extent of fees they are paying and/or the relatively poor exchange rates they are given.


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## jb44

Open Thai bank account,(green one is probably the best) write a cheque from your home bank,costs 153 baht to present it, then $10 to compete ,takes between 2 to 5 weeks to get funds through,exchange rate is the moment it is cashed,no spread. Use local banks atm to take the cash
Try Aeon bank atm ,no 150 baht fee,or simply take passport to yellow bank in local branch of Tesco,get cash from debit card, no 150 baht fee, (not from mine anyhow)but will pay fee of 150 baht at main bank branch


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## mikechudej

Open a bank account in Thailand and transfer your money over using above methods or try

Bangkok Bank (Blue) - You can transfer any amount of money via their New York head office. The fee is the same 400 Thai Baht. The exchange rate is depend on the day. It usually take 3-4 days for this. Try to do it on Monday or Tuesday so you will get your money by Friday. It will take longer if you do it before the weekend. 

That's how I do it.


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## bigcrackrod

*Money!!!!!!!!!!!!!*

Get a Thai bank account and a bank account where you are from. open a paypal account in both countries. ( This takes time but the cost is very little! ) withdraw money from your home bank to your paypal account, then when it clears, transfer it to your paypal account in Thailand. Then withdraw to your thai bank. The whole process takes about 2 weeks but it only cost about 3 dollars lane:







Kiniyeow said:


> My question is how are those that are living in Thailand getting access to there money? Are you just withdrawing it from a local ATM or transfering larger amounts to a bank in Thailand?
> 
> If I remember right, it cost me (from my bank here in the states) $7 total to make a withdraw from the ATM's in Thailand when I was there on vacation, and it costs me $35 to make the bank to bank transfers (at 28.89THB exchange rate). is the exchange rate better just withdrawing funds from the ATM?
> 
> What method are you using for getting gaccess to your funds?


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## jb44

bigcrackrod said:


> Get a Thai bank account and a bank account where you are from. open a paypal account in both countries. ( This takes time but the cost is very little! ) withdraw money from your home bank to your paypal account, then when it clears, transfer it to your paypal account in Thailand. Then withdraw to your thai bank. The whole process takes about 2 weeks but it only cost about 3 dollars lane:


Considering the spread and the exchange rates Paypal imposes,plus the fees in,out then in and out again I would not touch this method.


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## Song_Si

had not heard of the PayPal option before; I bank with Kasikorn, have transferred funds in/out of Thailand, my NZ bank charges NZ$20 it is in my account here on the third working day; never a problem. 
Once it is here I don't have to pay any ATM fee as long as I use one of their machines, but 20 baht if I use another bank's one.


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## mikechudej

I believe that Paypal have a "cross boarder" fee just not sure how much. You might want to look into this.


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## Kiniyeow

well i already know that my bank will charge me $35 per international transfer, so if the cost thru PayPal is the same or cheaper, i will still have to figure out there exchange rate to accurately compare them, but this is something i didnot think of before so it is something to at least consider.

Thanks for all the comments and ideas.


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## bigcrackrod

Well, I have done it several times, better exchange rate than an atm and it only cost 3 dollars to send 1,000 dollars. Like the Asian girls say, it's up to you! 




jb44 said:


> Considering the spread and the exchange rates Paypal imposes,plus the fees in,out then in and out again I would not touch this method.


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## .noodles.

As others have mentioned, your best bet is to open a Thai bank account (Kasikorn or SCB are preferred and more farang friendly) and do an internet transfer of funds from your home bank using their SWIFT code. 

There are no bank fees that i've come across except for a 20 baht fee if you withdraw your money from a different bank's ATM or an ATM from the same bank but in another province. 

Thailand's banking system seems a bit odd in some ways.. each branch seems to act independently and have their own rules, e.g you can open an account with SCB (purple bank) at one soi but the same bank a few soi's down the road will have different rules. Some will want to see a 1yr visa (non-imm) but others will let you do it on a tourist visa. I've also heard storys that any interest earned will not be paid if you are a farang.


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## cnx_bruce

It's correct that some Thai banks will not pay interest to non-residents in relation to some of their accounts. Each bank generally has a page within their wweb site dealing with interest paid on their accounts - this is where you need to check. Again, the way that the term "non-resident" is defined varies across banks.


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## TomTao

Kiniyeow said:


> My question is how are those that are living in Thailand getting access to there money? Are you just withdrawing it from a local ATM or transfering larger amounts to a bank in Thailand?
> 
> If I remember right, it cost me (from my bank here in the states) $7 total to make a withdraw from the ATM's in Thailand when I was there on vacation, and it costs me $35 to make the bank to bank transfers (at 28.89THB exchange rate). is the exchange rate better just withdrawing funds from the ATM?
> 
> What method are you using for getting gaccess to your funds?


I have an account in Thailand and an account in Australia, I have the bulk of my money paid into my Thai account, this is with the Bank of Ayudhya, they give the best excahnge rate and pay interest on my savings, the rest of my money can only be payed into an Australian account, it costs about $5 either side for overseas withdrawals so I do one large withdrawal and deposit into my Thai account.


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## fredthedog

cnx_bruce said:


> There are too many variables to give you a neat & tidy answer. Depends on number and size of withdrawals/transfers, on fees charged and exchange rates provided by transmitting bank/receiving bank and any intermediary bank.
> 
> For most people living in thailand the best way is via creating a thai bank account and transferring fewer large transfers into it and then withdrawing with a thai debit/atm card at atm's. Even then, you need to shop around different thai & foreign banks to get the best deal - and of course you need access to internet banking. Best thing is talk to others from you country and see who they use. But even then do your own research before committing as many people are unaware of the extent of fees they are paying and/or the relatively poor exchange rates they are given.


I want to take 1.5 mill from my thai bank back to the UK....anyone know the best way......


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## fredthedog

.noodles. said:


> As others have mentioned, your best bet is to open a Thai bank account (Kasikorn or SCB are preferred and more farang friendly) and do an internet transfer of funds from your home bank using their SWIFT code.
> 
> There are no bank fees that i've come across except for a 20 baht fee if you withdraw your money from a different bank's ATM or an ATM from the same bank but in another province.
> 
> Thailand's banking system seems a bit odd in some ways.. each branch seems to act independently and have their own rules, e.g you can open an account with SCB (purple bank) at one soi but the same bank a few soi's down the road will have different rules. Some will want to see a 1yr visa (non-imm) but others will let you do it on a tourist visa. I've also heard storys that any interest earned will not be paid if you are a farang.


can you throw any light on how is the best way to get 1.5 mill baht from my thai account back to uk.....


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## Newforestcat

Find some topup credit or debit cards, if all else fails. 

My bank is UK-based. I am lucky to have HiFx to transfer money to my Thai account. Transfers of £3000 and over are free of charge; the higher amount, the better the rate. It's £9 fixed fees for smaller amounts. Once registered, you can do it anywhere you are with an internet connection. I don't know if non-Brits can use the service because they do have to do credit checks on you first. You can check on hifx.co.uk

I find Paypal awful, given the exchange rates and the fees. But I will use it as the last resort.

For those from the UK, this is the best topup credit card that still gives Section 75 protection (for any purchase between £100-£30K anywhere in the world in case the goods do not fit descriptions or sellers go bust). Only go for this if card providers keep cancelling your cards as you are abroad for too long! ;(

Cashplus Prepaid Card – the prepaid credit card alternative with no credit checks | Cashplus

NEVER use it to buy used goods because working out if something old fits seller's descriptions or not is a nightmare and people don't tend to get their money back this way.

If you have a good friend in the UK, they could get one for you, but you have to keep topping it up. There are monthly fees involved, too.

Below are lists of best UK credit and debit cards to use abroad:-

Cheap Travel Money: Top cards for spending abroad...

Sending Money Abroad: How to send cash overseas cheaply... (this link tells you about using Paypal, too)

These FX brokers, apart from HiFx, may work for any expats in Thailand:-

International Money Transfer | Transfer Money Abroad | Moneycorp 

Currency Exchange - Best Foreign Exchange Rates & Currency Converter | Currencies Direct

What about Moneygram and Western Union?

I never use anything other than HiFx and the topup credit card. They are great! 

Cheers!


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## Newforestcat

fredthedog said:


> I want to take 1.5 mill from my thai bank back to the UK....anyone know the best way......


I can only guess:- 

If you are in Thailand, 

- buy gold jewelery and wear it on your body or put it in your hand luggage when you get on the plane and sell it in the UK ASAP. Is this risky with Imigration at both ends?

- exchange it into £££ and put it in tour hand luggage. Take it to England.

- use bank xfers or Moneygram. 

Just compare the rates first. Sorry, I wish I had more idea.

Any better suggestion?


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## fredthedog

TomTao said:


> I have an account in Thailand and an account in Australia, I have the bulk of my money paid into my Thai account, this is with the Bank of Ayudhya, they give the best excahnge rate and pay interest on my savings, the rest of my money can only be payed into an Australian account, it costs about $5 either side for overseas withdrawals so I do one large withdrawal and deposit into my Thai account.


I arrive in Phuket next week and want to get 1.5m baht out of my account to bring back to uk for my business .....I'm trying to find the best way to do it.....should I do it on Internet banking and can I take that much out without notice ? 
I don't fancy walking around Phuket with pockets full of cash.....


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## TomTao

fredthedog said:


> I arrive in Phuket next week and want to get 1.5m baht out of my account to bring back to uk for my business .....I'm trying to find the best way to do it.....should I do it on Internet banking and can I take that much out without notice ?
> I don't fancy walking around Phuket with pockets full of cash.....


If you want to do an internet transfer you would need to check with the Thai bank your account is with, they probably have a transfer limit, but I can't see you using any method and not being charged a fee of some description, the best way that comes to mind would perhaps be to ask the bank to do the transfer for you, it would definately mean paying a fee, but losing a little is better than carrying a bag full of cash around Phuket and risking losing it all.


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## kowpot

fredthedog said:


> I arrive in Phuket next week and want to get 1.5m baht out of my account to bring back to uk for my business .....I'm trying to find the best way to do it.....should I do it on Internet banking and can I take that much out without notice ?
> I don't fancy walking around Phuket with pockets full of cash.....


Can't you buy an international money order? Or split them up and buy several. 
Just a thought.


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