| With over 32,000 ex-pats in Bangkok alone it is | | | | all over Bangkok and throughout Thailand. |
| fitting that they have a variety of options for | | | | Some firms such as iKobo use a system |
| transferring money overseas. Many residents | | | | combining ATM cards to send money overseas. |
| need to regularly send money back home to | | | | The fee for this may be more expensive for |
| family, loved ones and so on. Here is an outline of | | | | Thailand so check with the company offering the |
| the variety of the more convenient, fast and | | | | service. |
| inexpensive ways to transfer money from | | | | Send money via a bank transfer in Thailand is a |
| Thailand. | | | | good idea for large amounts of money as it is |
| The three main expenses when transferring | | | | very safe. They use a safe system with |
| money are due to: | | | | encrypted messages. To do this you would need |
| 1) The actual money transfer fee | | | | a Thai bank account. |
| 2) The current exchange rate. | | | | To acquire one of these you would need to |
| 3) Additional fees that may need to be paid by | | | | provide several different documents such as: |
| the recipient of the money transfer. In Thailand | | | | passport with a non-tourist visa, work permit and |
| this is often the case for bank wire transfers. | | | | proof of earnings amongst other things. It may |
| Of course most companies make there money | | | | however be slightly easier to open a bank |
| from the money transfer fee. this fee is | | | | account outside of Bangkok as restrictions seem |
| calculated dependent upon various factors such as | | | | to vary dependent on location. However Thai |
| the amount of baht being sent, how soon you | | | | banks are usually very helpful and efficient when |
| wish the recipient to receive the money transfer | | | | processing wire transfers overseas. If you are |
| and where you are sending money to. Be careful | | | | sending to the UK you would need to provide a |
| here for some companies will advertise no money | | | | BIC number and an IBAN number so the bank |
| transfer fee. this may be the case but if you | | | | knows exactly where to send the money to. |
| take a look at the exchange rate they are | | | | Western Union and MoneyGram also play a big |
| offering to you it may well be the case that it is | | | | role for transferring money overseas from |
| a very poor exchange rate and overall you may | | | | Thailand. western Union has two very convenient |
| be losing money despite not paying a money | | | | branches in tourist areas on Khao Sah road a |
| transfer fee. | | | | main backpacker ghetto and Sukhumvit road |
| The exchange rate is of course very important. | | | | where many ex-pats frequent. |
| rates change daily and you can check them in | | | | At time of writing the exchange rate for UK |
| Thailand in the daily Bangkok Post newspaper or | | | | pound sterling and US dollars is: |
| of course online. Money transfer firms generally | | | | Thai baht, 10,000 = 320 US Dollars |
| have slightly different exchange rates so double | | | | Thai baht, 10,000 = 161 UK Pound Sterling |
| check with as many companies as you can. | | | | As ever with money transfers it pays to take |
| As mentioned previously if you are looking to | | | | care of any reference numbers, receipts, carbon |
| perform a bank wire transfer the recipient may | | | | copies and so on just in case you run into any |
| actually incur a fee at their end which shouldn't be | | | | problems. This is generally not the case but better |
| overlooked. Some of the major banks who are | | | | to be safe than sorry. with so many money |
| able to perform a wire transfer from Bangkok | | | | transfer service agents available at the moment |
| are: Kasikorn Bank, Siam Commercial Bank, and | | | | the key advice would be to shop around. |
| the Bank of Audhya. They have many branches | | | | |