Internatinal Wire Transfer (from USA)

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papaguido
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Internatinal Wire Transfer (from USA)

Post by papaguido » May 17, 2009, 8:39 am

I'm exploring all means of transferring money from the US. Presently, I rely on cash adv from my debt card and works fine and only paying the 1% conversion fee on the EX.

I've never made made an int wire transfer and I'm wondering what fees are associated with this type of transaction, besides the service fee from the sending financial institution.

Would like to hear from anyone with experience in sending this type of transaction.

Thx in adv :D



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Pakawala
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Re: Internatinal Wire Transfer (from USA)

Post by Pakawala » May 17, 2009, 9:16 am

I used it once with B of A and the charge was $12.00. I emailed the and explained that the need for case was because of their error and they refunded the money to my account. Exchange at this end was normal. BTW, the normal for B of A wire transfers is $25 but I got the reduced rate because I have a 'Military' account. =D>

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banpaeng
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Re: Internatinal Wire Transfer (from USA)

Post by banpaeng » May 17, 2009, 9:18 am

I have done this several times. My Brother in Law does it about twice yearly. You need to check with the bank sending it as the price can vary. It runs 30 to 50 dollars. You can cut down on it a bit by doing a domestic wire transfer to Bangkok Bank in New York and then (I Think) they charge you 5 to move it to Thailand.

I am not sure if Polehawk is still doing it quite reasonable, but a phone call or PM to him might do the trick. Seems he was moving money for about 3 to 5 dollars. I may be wrong but you can check with him.

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Re: Internatinal Wire Transfer (from USA)

Post by aznyron » May 17, 2009, 9:32 am

just look at it this way if you pay 1% for cash advance which there is no limit to the cost do the math
let assume the charge is 50 bucks and you want to transfer 2000 USd now the 1 % will only be 20 bucks
so your transfer would have to exceed 5000 USD to make it worth while. my credit union charges 45 USD

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Re: Internatinal Wire Transfer (from USA)

Post by Farang1 » May 17, 2009, 10:42 am

I work on a military base and not allowed to leave. (To many people outside that want to get an extra jewel in their crown by killing an infidel.) Got to be to much hassle asking friends or family to wire the money for me. I used Western Union online but, that got to be a bit spendy. I found Citibank will let you do international wire transfers online. Cost is $30 and can be done from anywhere you have internet access.

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WBU ALUM
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Re: Internatinal Wire Transfer (from USA)

Post by WBU ALUM » May 17, 2009, 11:01 am

Send a $1,000 USD MoneyGram to yourself for $14 USD. Less than 1.5%.

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Re: Internatinal Wire Transfer (from USA)

Post by leehut » May 17, 2009, 11:40 am

This comparison site was reccomended by a UK newspaper (Daily Express I think) , a couple of weeks ago.


http://www.sendmoneyhome.org/Content/se ... itted=true

I'm NOT sure how accurate it is.... and you get a lot more comparisons if you send from the UK rather than the US.
Maybe worth a look though.

Lee

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Re: Internatinal Wire Transfer (from USA)

Post by BKKSTAN » May 17, 2009, 12:25 pm

Write a check,cost $10 for any amount,but you have to wait 6 weeks to receive it!I have done it twice through Kasikorn,once for $35K and once for $20K!

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Re: Internatinal Wire Transfer (from USA)

Post by aznyron » May 17, 2009, 12:56 pm

I believe citibank has office in Bangkok worth checking it out

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Re: Internatinal Wire Transfer (from USA)

Post by tutone » May 17, 2009, 4:53 pm

I have a money market account with Vanguard in the U.S. I can have wired to Bangkok Bank in Udon any amount over $1000 free of charge. I have done this three times. Very simple to do on-line once you get set up.

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Re: Internatinal Wire Transfer (from USA)

Post by parrot » May 17, 2009, 8:39 pm

[quote="tutone"]I have a money market account with Vanguard in the U.S. I can have wired to Bangkok Bank in Udon any amount over $1000 free of charge. I have done this three times. Very simple to do on-line once you get set up.[/quote]

Nice! Is Bangkok Bank providing the standard exchange rate? Are you depositing into a retirement account or just an ordinary savings account?

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Re: Internatinal Wire Transfer (from USA)

Post by WBU ALUM » May 17, 2009, 9:43 pm

tutone wrote:I have a money market account with Vanguard in the U.S. I can have wired to Bangkok Bank in Udon any amount over $1000 free of charge. I have done this three times. Very simple to do on-line once you get set up.
Good old Vanguard. Never thought to investigate that, and I have several options through them.

Thanks, tutone! =D>

I've sent you a PM with a question. :-k

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papaguido
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Re: Internatinal Wire Transfer (from USA)

Post by papaguido » May 18, 2009, 5:49 am

Thank you all for your replies.

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Re: Internatinal Wire Transfer (from USA)

Post by tutone » May 18, 2009, 9:36 am

parrot wrote:
tutone wrote:I have a money market account with Vanguard in the U.S. I can have wired to Bangkok Bank in Udon any amount over $1000 free of charge. I have done this three times. Very simple to do on-line once you get set up.
Nice! Is Bangkok Bank providing the standard exchange rate? Are you depositing into a retirement account or just an ordinary savings account?
They appear to be providing the standard exchange rate. Last time I did it I got aroung 35.5 per dollar. About a month ago. I really don't keep up with the rates too much. Also I'm just depositing into a regular savings account.

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Re: Internatinal Wire Transfer (from USA)

Post by jimboLV » May 18, 2009, 9:58 am

Bangkok Bank pays the TT Buy rate on electronic transfers. The rate is posted on their website and updated several times daily. I have my US social security deposited directly into my BKK account. They charge a fee of 0.25% - - pocket change. The funds are generally available on the same day they are sent. The only rub is that you cannot access the funds by ATM. You have to appear in person to withdraw the funds, or transfer into another account which is accessible by ATM. This is a US government rule, not the bank's.

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Re: Internatinal Wire Transfer (from USA)

Post by Stantheman » May 18, 2009, 10:09 pm

Tutone,
Is Vanguard on online bank or do you have an account in a specific state?

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WBU ALUM
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Re: Internatinal Wire Transfer (from USA)

Post by WBU ALUM » May 18, 2009, 10:35 pm

Stantheman wrote:Tutone,
Is Vanguard on online bank or do you have an account in a specific state?
Mutual Fund company based in the US.

They have money market accounts also.

www.Vanguard.com

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Re: Internatinal Wire Transfer (from USA)

Post by tutone » May 19, 2009, 8:40 am

Stantheman wrote:Tutone,
Is Vanguard on online bank or do you have an account in a specific state?
Vanguard is an investment company that deals primarily in mutual funds. They are very big but I have found them to be very customer friendly, and they have weathered this financial storm very well. They have money market accounts that allows you to use your money similar to a bank. Check their web site Vanguard.com.

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Re: Internatinal Wire Transfer (from USA)

Post by Ray.Charles » June 2, 2009, 3:23 am

Hi Tutone,which particular Vanguard money-market account are you using? Since they are not a bank, I am assuming that they do not have an ABA routing number. Anyway, after I get your reply, I have to check if I can have my pension checks go directly into Vanguard, then I can transfer to my Bangkok bank account as needed. Alternative would be to have my pension checks go into my Bangkok Bank account, but the hassle would be not being able to use an ATM card.

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Re: Internatinal Wire Transfer (from USA)

Post by WBU ALUM » June 2, 2009, 6:55 am

Ray, I transfer money at no charge from my bank to my Vanguard account and back. There would be no need for you to direct deposit your pension checks to Vanguard. In fact, I would advise against it. Better to keep the pension going to an FDIC-insured location (for now). :lol:

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