Fund Transfers Into Thailand.

Biggles

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A while ago DavidFL suggested a thread on Funds Transfers might be interesting, so heres a starter. I did this spreadsheet a few years ago for a friend who insisted his AU bank was doing the right thing by him re exchange rates & fund transfer costs to get his 800K into TH for his Retirement Visa requirement. Now, I know this is a MC forum, so lets just pretend its THB 810,000 you are transferring into TH for a nice new big motorcycle. Yes my spreadsheet is 2018, but much of this is still the same. Maybe you might want to copy my spreadsheet design to examine your home countries banks to the International Transfer Co’s, and put the results on here. When you look at my spreadsheet, you will see this is really worth the time to study, if you are transferring larger amounts
Fund Transfer.jpg
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Biggles

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If DavidFL wants to move this to another folder area thats fine. I looked around as to where to put this, and saw a mention of the word ‘Newbie’, so I put it there, because those most likely to need this kind of information will possibly be new to Thailand. Oh I should also say I have no connection to any of these companies, nor do I make anything from this. I did this spreadsheet as there are so many ways to transfer funds, all charge in many and varied ways, which makes it all very confusing. Hope this thread helps someone. The only other thing I should say is if you are wishing to get THB cash (at least in AU), get min THB before leaving. Don't buy it at airports as exch rate is not good. Just go to exchange streets in main shopping areas, or maybe SuperRich etc, as local TH exchange houses give better exch than anyone else.
 

Biggles

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Hello Scotty. As far as I know I uploaded it as a jpg. image last night. But I do not know how to 'upload it as a file' as you say. If I want to copy an image like this, I just do a screen save or I put cursor over image and download it. This is easy on a Mac, but I’ve no idea how to do these things on a PC or Linux machine.
 

scotty007

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Hello Scotty. As far as I know I uploaded it as a jpg. image last night. But I do not know how to 'upload it as a file' as you say. If I want to copy an image like this, I just do a screen save or I put cursor over image and download it. This is easy on a Mac, but I’ve no idea how to do these things on a PC or Linux machine.
Thanks mate very interesting and damming on using one of the banks! Was using World First until they stopped private accounts and am now using OFX who are very good, do you know of any limitations with TransferWise?
 

scotty007

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Thanks mate very interesting and damming on using one of the banks! Was using World First until they stopped private accounts and am now using OFX who are very good, do you know of any limitations with TransferWise?
Just signed up to Transferwise or Wise as it is now known, procedure was fairly straightforward with me having to make a small deposit into my Wise account and photograph my passport front page for verification!
 

Biggles

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Hello Scotty. I used OFX for a few years, and they were good, and they were AU owned, which was good. But one day a junior employee jammed my account. They apologised fairly well, but it took them near 3 weeks to unjam it. This was very inconvenient. By that time I was looking for an alternative and I went to TransferWise. Save one real hassle, again caused by a young inexperienced employee, they have been the best financial organisation I have dealt with. Best service, best deal, best software. Most well organised in every way by a country mile, the antithesis of an AU Bank. Look forward to meeting you one day. Best Regards from Biggles.
 

Biggles

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As always in dealing with such orgs, its easier to do things verbally. BUT BUT BUT BUT, if you do that, make sure there is a brief summary from both sides in writing. I speak from experience, & it ensures you can prove you have played the game to the letter, so if it goes pear shaped, its all on their shoulders to fix it. They cannot weasel out of responsibilities. Also know that say Wise are registered in all countries they work in, so must comply with laws, rules and watchdogs in those countries. AU is good for this. You might check Wise in this regard for your country of background/origin.
 

scotty007

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Thank Biggles, really appreciate you putting this post up, will give Wise a go next time! Catch you one day for sure!
 

Heineken

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I am also a monthly Transferwise user, for many years now, only had one hiccup in about 5 years, that got sorted out in a few days and I think the issue was with POLI

Some of my friends that also use Transferwise get their funds into their Thai Bank accounts alot quicker than I do, I think this may have more to do with my Australian bank.........................funds always arrive at 2pm in my Thai bank ?...........................except if there is a public holiday or weekend, its the next working day in that case.
 

Biggles

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I am also a monthly Transferwise user, for many years now, only had one hiccup in about 5 years, that got sorted out in a few days and I think the issue was with POLI

Some of my friends that also use Transferwise get their funds into their Thai Bank accounts alot quicker than I do, I think this may have more to do with my Australian bank.........................funds always arrive at 2pm in my Thai bank ?...........................except if there is a public holiday or weekend, its the next working day in that case.
Good luck to you Heineken. Hope we can compare thoughts on this and spend a few minutes solve all the worlds problems over a few beers one day. Hope to get to CR for a Pizza one day too. Regards from Biggles.