rickfarang Posted August 4, 2003 Report Share Posted August 4, 2003 One of the aspects of having a home in Thailand that I have been trying to optimize over the last couple of years, though with little success, is bringing in money in such a way as to minimize the fees associated with the transfer. I want to bring over a few thousand US$ every few months. International ATM transfer fees are (150 to 200 baht per transaction). Traveler's checks are expensive at about 2% of face value + the fee for each check. International wire transfers run $45 per. So, it looks like for transfers of a few thousand U.S. dollars or so, bring a wad of cash is the least expensive, though not attractive alternative. What methods are most popular? Any other ideas? I'm sure others have thought about this at length. RickF Link to comment Share on other sites More sharing options...
Guest Posted August 4, 2003 Report Share Posted August 4, 2003 International ATM transfer fees are (150 to 200 baht per transaction). Most banks charge under 100 baht. But even at 200 baht ($5 US ) for immediate transfer of several 'thousand' it's nominal. In fact downright cheap. Can not understand what you can complain about. Or are we bored tonight? :: :hubba: Link to comment Share on other sites More sharing options...
Guest Posted August 4, 2003 Report Share Posted August 4, 2003 Yeah...100 or 200 baht for an ATM transfer seems perfectly good value as insurance on that wad of cash you were going to stick in your sock. Link to comment Share on other sites More sharing options...
rickfarang Posted August 4, 2003 Author Report Share Posted August 4, 2003 Tell me what U.S. bank will make an international transfer for $5.00 and I'll open an account there. Thanks RickF. Link to comment Share on other sites More sharing options...
Guest Posted August 4, 2003 Report Share Posted August 4, 2003 An important factor not to overlook for that amount of money is going to the exchange rate! For example, on top of the 2% you pay for TC's, you then lose even more exchanging the money into baht. My understanding of best to worst exchange rates: ATM, TC's, cash. Wiring is all over the place and really depends on the institution. Link to comment Share on other sites More sharing options...
khunsanuk Posted August 4, 2003 Report Share Posted August 4, 2003 Hi, "Tell me what U.S. bank will make an international transfer for $5.00 and I'll open an account there." I have a stock account in the US with a debit card. I get charged $1 per withdrawal. Max. withdrawal is $750 a day I believe. Sanuk! Link to comment Share on other sites More sharing options...
Guest Posted August 4, 2003 Report Share Posted August 4, 2003 My US-based Bank of America checking and money market savings accounts are linked to a VISA debit card / ATM card which allows me to withdraw up to $1,000 per day. The transaction charge is $1.50. Given that Thai ATM's dispense a maximum of 20,000 baht per transaction, it would cost $3 in fees to withdraw 40,000 baht (approx. $1,000) worth. Link to comment Share on other sites More sharing options...
Guest Posted August 4, 2003 Report Share Posted August 4, 2003 Didn't say a wire transfer. As KS says, your ATM card is good for at 1,000 a day (and you can ask to have your limit raised. An offshore account or premium account can allow 10,000 a day withdrawal. And at the best rates an individual can get for exchange. If you need more than that, then :censored: Link to comment Share on other sites More sharing options...
think_too_mut Posted August 4, 2003 Report Share Posted August 4, 2003 >International ATM transfer fees are (150 to 200 baht per transaction). Any Australian bank would charge you about 1.5US$ per transaction, which may be 20K bahts each. Then u can do another one after few seconds time. Been doing that for years, no problems, no surprises. US banks are somewhere there, if not better. Link to comment Share on other sites More sharing options...
ThaiHome Posted August 5, 2003 Report Share Posted August 5, 2003 I usually bring about $8,000 in every 2 or 3 months and use the telegraphic transfer. For the convenience of doing it one go instead of hitting ATM 15 times over the same period, it is worth it to me. Still use BofA ATM for general spending money though. TH Link to comment Share on other sites More sharing options...
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