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Home » Reader question » Reader Question: What is the best way to transfer money to Thailand?
Reader Question: What is the best way to transfer money to Thailand?
Good day,
I transferred money from my ING bank account to the bank account number of my wife who is staying in Thailand.
The money was debited from my account the next day, but it is still not in my wife's account one week later.
My question is what are the experiences of the readers. How long does it generally take before a transfer from an ING account to the Kasikorn bank actually reaches the beneficiary's bank account.
And what are the experiences of the rates. I only get about 38,8 baht per euro while looking at the exchange rates the rate is much higher.
What is the best way to transfer money?
Thank you for your answer or any posting.
Yours faithfully,
Adje Henraat
The best in my opinion is to transfer euros which will then be exchanged in Thailand at the TT rate. Transfer takes a maximum of 2 working days.
@justharry. 2 days on the beneficiary's account??? Which bank are you talking about?
Just the ING bank, but then via internet banking, I don't know if the questioner also used that. By the way, AbnAmro does it in 1 day.
That is correct: At the ABN in the morning assignment, next day at the Bangkok Bank.
Costs ABN 5.50 Euro per assignment and at eg 2000 Euro another 200 bath costs here.
But at the rate stated here. I usually wait until it reaches 40.
The rest is money making and it is strange to always hear the same bank.
Frank F
Me too Abn I send money to the Bangkok bank and that takes an average of 3 working days.
Ps the banks in Thailand do nothing during the weekend, so if you make a booking on Friday, 2 extra days will be added.
@justharry.
Hi. If I understand correctly, you also transfer money via internet banking via ING. I have now received back the money that I transferred last time. Minus costs of course. The joke cost me all together 60 euros. I would not have filled in all the data. I now have all the data, but I do not encounter the problem that you can only enter 32 characters in the input fields. You must enter the address of the beneficiary and the bank. But those addresses are so long that I can't put them in the box. Shortening is also not possible. Do you possibly have a solution? Are you having problems entering your address? Thanks in advance for your help. Tips from others are also welcome.
@Ad
Hi Ad, I don't have that problem with long names. It all fits in.
The costs you mention are very high, if you transfer E5000, for example, then it costs
it is about E18 in total.
Anyway, good luck.
Abn-Amro to Kasikornbank idd maximum 2 days. Current Telex transfer rate 38,693. Good and easy. For larger amounts, the recipient will be informed by telephone of the amount received. Western Union is way overpriced in every way.
If I transfer money from my Rabobank account to my Kasikorn account in Thailand, it will be in the bank here in a maximum of 2 days
Often takes 1 week sometimes a little shorter. The exchange rate is also always lower due to the costs.
It is best to give your wife an extra ING bank card.
Then she can withdraw money in Thailand. Advantage: immediately available and good exchange rate and no costs from the bank. Disadvantage: 150 baht costs at ATMs in Thailand.
But this is always much less than the costs incurred with a transfer
That after a week the amount is still not in your wife's bank account is a shame. Maybe take another bank. ING is not very well known when it comes to service for their customers.
Transferring money to Thailand is also a separate story.
If I take the ABP pension and AOW transfers to Thailand as an example, they are always very fast. A day later the money is already on it.
When I sometimes hear stories from my Flemish friends, their money first goes to Germany and then to Thailand. The SVB and ABP pay the amount directly in euros
on the Thai bank. The latter has nothing to do with your question.
Perhaps ING is taking the same detour.
J. Jordan.
Transfers from ING account via Internet without fail within 3 days at beneficiary. It is wise to have the costs paid on the Thai side, approximately 300 Baht, so simply include it in the amount to be transferred.
When it comes to larger amounts, ING will not even cooperate with a transfer to Thailand. First had to transfer money from ING to ABN, after which they could transfer it to Kasikorn.
I am Belgian and had the same problem the first time I transferred money. It took 3 weeks before the money was in the account and the transaction costs were also very high. I have been using Western Union ever since. You will then receive a code and a few minutes later you can collect money in Thailand with that code at the local Western Union office. Works very quickly and easily and the transaction costs are also a lot lower.
How low are the costs and what is the exchange rate. Costs as % of the amount? For comparison look at interbank exchange rates, not tourist, nak paper or other rates
A Belgian who pays to transfer money to Thailand?
I live in Thailand and if I need money I send an email with a form for
"non-European transfer" from Argenta, I confirm that by telephone, although it is not necessary and a few days later it is here in my bank account. Normally that goes quickly, but once I had 20.000 euros transferred and that took a month for it to my account was, but apparently this has to do with the amount and they advised the bank never to transfer more than 5000 euros.
As for costs, Argentina 0 euro .Kasikornbank 0 bath and the TT rate which is on average 0.20 bath better per euro.
As for western union, I did that once with 500 euros and had to pay 64 euros tax in the office at the station in Antwerp. Have been sick for a week.
In my case, transferring to the SCB bank in Thailand never takes more than 2 to 3 days from my bank in Belgium.
I have only heard that amounts of 15.000 Euro and above can cause problems and delays.
Costs client, and transfer in euros.
Same experience – from AXA to SCB normally 2-3 working days. If there is a weekend or public holiday in between, you must add it. Transferring on Friday means it will be in the account on Monday or four days.
The bank is obliged to report transactions of 10000 Euro or more, just as you must do yourself if you would transfer more than 10000 Euro in cash. This may therefore cause delays. They may have to wait until they are cleared to execute the transaction.
No, years ago I once transferred 4 million baht which was in two days. But the bank tries to tell you late that it has arrived with an excuse to earn free interest for a little longer
In Belgium, the bank must report transactions above 10000 euros. I don't know whether the delay has anything to do with that, which is why I used "maybe".
It probably depends on ING because from Rabo to my Kasikorn account it takes 2 to 3 days, except as RonnyLadPhrao also mentioned with regard to weekends and public holidays. During Songkran and Loi Kratong it can take more than a week.
SirCharles,
live permanently in Thailand and have been transferring money from ING to my account at Bangkok Bank for over 6 years now. Assuming that the transfer takes place on a Dutch working day, money is normally in my Thai bank account the next day, whereby the TT rate is indeed leading. Transfers on weekends cause delays.
Example: order a transfer on Tuesday around 20.00 PM Thai time and money will be in my Thai bank account around 10.00 AM on Wednesday.
In my view, the comment that it is up to ING is factually incorrect.
That's why I used the word 'probably' instead of 'actually' dear RobN. 🙂
Dear SirCharles,
that's why I actually mentioned because you wrote that it was probably ING's fault.
regards
The best way also depends on your intentions.
If you want to transfer money regularly to the same person in Thailand, I would advise you to open a 2nd account with your bank. Simply with your own (ING) bank and in your own name. Do not allow "red" standing. You send the corresponding bank card to Thailand and so money can be withdrawn at any ATM in Thailand. If necessary, you can open a new bank account with ASN bank. That costs € 1 per month and they are not difficult. Other banks such as ABN and Rabo only want to open an account for you if you also purchase other products (credit card, insurance, deposit salary), otherwise you cannot open an account there (apparently too much effort and it shows again that customer friendliness at the large Dutch banks is totally below par, but this aside).
If you transfer money to third parties, you can consider doing so via Western Union. Or Moneygram. But that is relatively expensive (20 to 30 euros per transaction).
Transferring money from your ING account to Kasikorn is also relatively expensive. You will have noticed that this costs 25 euros + a percentage of the amount transferred.
Indeed. If I transfer money, I will have to pay a minimum of 30 euros transaction costs.
I think if I open a second account and send the bank card to Thailand, you will also pay costs with every withdrawal.
Looking at the previous responses, the problem seems to be ING. I hope to receive more responses.
The transaction costs for withdrawing money with a PIN card (ATM) are much lower than the transaction costs for transfers.
At an ATM you pay 150 baht (approximately € 3,75) withdrawal costs and € 2,25 to the ING. So in total about € 6. In addition, the bank uses a less favorable exchange rate, but they also do that for transfers.
I recently indicated in another topic that I had had problems with ING. I have received an explanation letter from ING about this. It appears that ING is temporarily (1 day to 2 days) suspending the option in certain countries (including apparently Thailand) if they (ING) believe that the number of ATM withdrawals is noticeably higher or if there is a lot of debit card use with PIN passes known as “skimmed”. Although I naturally appreciate ING's vigilance, it is an inconvenience for the ignorant and innocent customer. That is why, on the advice of Dick v//d Lugt here), I opened an additional account at another bank. In my case ASN bank, because you can easily open an account there. This means you have 2 independent bank cards available in Thailand and, if the ING card does not work, you can quickly transfer money to the other account and you can withdraw money with that card the same day or 1 day later. Because these are Dutch bank accounts, there are no costs involved (for transferring money, of course if you withdraw money in Thailand). The costs for the ASN account are €1 per month. The costs for withdrawing money in Thailand are the same as those of ING: € 2,25 per withdrawal plus a surcharge on the exchange rate (and of course 150 baht, unless you withdraw money from AEON in Thailand).
You can take a payment account from ING, costs about 8 euros per 3 months, then you do not have to pay ING that 2,25 euros, you will have it out in no time
I recently transferred money from my ING account to my Siam Commercial bank account and that only took 2 working days. I had transferred it on Tuesday at about 21.00:10.00 PM Thai time and it was already there on Thursday morning at XNUMX:XNUMX AM Thai time.
I really didn't pay 25 euros in costs but only 5 euros
I transfer money every month from ABNAMRO to Kasikornbank within 1 working day, it is stated, I transfer euros and costs are shared
I also transfer money from abnamro to bangkok bank.
Ordered before 9.00:5.50 am, the next morning it will be at bangkok bank bangkok, in the afternoon at my branch here in Pattaya with always a good exchange rate. I always charge recipient. Previously it cost 10 per transaction, now abnamro charges considerably more, with larger amounts it can amount to tens of euros.
Last time I brought cash, you can also get a good exchange rate here.
See link;
http://www.yjpattayaexchange.com
We regularly receive payments from ING, Rabo and ABNAMRO.
Paid today, will be on the account in 2 to 3 days. Always runs smoothly if the correct data incl. Swift code of the bank are entered.
Dear Adje Henraat,
Never transfer money to Thailand via ING.
The most fast and reliable way is through Western Union.
ING is very expensive and not reliable.
As an example: I transfer an amount to Thailand and the costs are
(terribly high) written off.
After debiting, ING makes it even more colorful, they will even increase the amount.
I have been in contact with ING and as befits this institution they let you down.
I have all the evidence of this transaction and therefore I can ING for scammer
they will never be able to defend themselves against this.
But to answer your question : do it through Western Union and 10 minutes after the deposit
can the money be picked up in Thailand.
With very low costs.
Kind regards.
Jan
Hello Jan ,
What matters is: what does it cost??
How much does it cost via West Union?
With Western Union, the amount of the costs depends on the amount to be transferred. As I wrote elsewhere on this subject, it is cheaper to do it online than via the counter of an agency. All information can be found on the website http://www.westernunion.nl
Just made a calculation on the internet via western union.
amount 5000 euros
costs 131 euros
total 5131 euros
to receive186755 bath
Via Argenta 5131 euros amount and western union costs
TT course X 38.63
received 198210 bath
A difference of 11455 bath
I did that once with western union and the costs are high and the exchange rate is bad.
Every 3 to 4 months I transfer money from my account at ING
Always the next day in my account at Bangkok Bank
Never had a problem in 9 years.
Gerrit
My transaction costs via internet banking are €5,50 at ABN AMRO. The money is usually in my account at UOB within 3 to 4 days. I think the reported problems are not so much with the Dutch banks, but with the Thai banks. A lot of work is still done manually. That can take time. In my experience, Thai banks also charge significant transaction costs. Transferring small amounts is therefore not convenient. It's great that so much development money flows from the Netherlands to Thailand. Perhaps we should complain less when the balance of payments in the Netherlands is not going so well. The Thais only have to collect and spend (in their own country of course, Thai rak Thai after all).
Dear reader
Can someone tell me how we can get a visa for Thailand for about 2 months.
Dick: Type the word visa and Thailand into Google and you will find a wealth of information.
No problem in Belgium you go to the Thai embassy in Belgium (Brussels) and you apply for a visa for Thailand for two or three months after three days you can already find out costs € 30 to bring with you international passport your flight ticket with the dates of arrival and departure and the address where you stay in Thailand (hotel, family, etc.)
In the Netherlands I don't know
Greetings from a Belgian in Thailand now for two months
Have a tourist visa arranged by ANWB. Tourist visa only for 2 months.
Apply online at ANWB Visa Online
success
Adje,
we always choose western union.
The duration of the transfer is equal to the moment you pay in the Netherlands.
Course is known.
Amount is insured against non-arrival.
Amount that your wife receives is known.
your wife must bring a passport.
amount Can be collected at most Thai banks.
jeffrey
Western Union is fast and reliable. You can also transfer online via WU, the costs are then lower than if you do it via one of the agencies – including the GWK branches. Unfortunately, you can't do that directly from your bank account, but only through a payment with your credit card.
Moderator: Comments without initial capitals and periods at the end of a sentence will not be posted.
With a moneybookers card you can transfer money quickly and cheaply to any bank account.
It is credited within 2 days on average. Top up via ideal and then transfer to your Thai account.
More information on http://www.moneybookers.com
Totally agree with Dennis. Never again 'just' transfer (costs claws with money) and also no need to search for a Western Union branch. Open a second account, possibly with another bank and send the bank card to Thailand. Can simply be used in the flap tap. And rather just internet banking. As far as I know (and I've been doing it for two years now) only the Bangkok Bank and the KrungThai Bank (after my wife asked the general manager about it) offer the possibility to transfer money internationally and receive. Money comes in a few hours.
Dear readers.
Using a Dutch bank card in Thailand works well.
Please note: Rabobank charges 2 euros per transaction, I don't know if other Dutch banks do the same.
The Thai banks almost all charge 150 baht per transaction with pins.
This is therefore per transaction with the exchange rate of 40 Bath per Euro 3,75 and 2,00 Euro from the Dutch bank in total 5,75 Euro.
And the maximum pin assignment is 20.000 Bath per transaction.
So if your wife or girlfriend withdraws 5000 Bath per transaction, the total of 20.000 Bath withdrawals becomes expensive, namely 4x 5,75 Euro = 23,00 Euro.
So let them pin the maximum at a time.
Greetings.
Christ.
Dear Jan,
what am I doing different from you? I use the SHARE option, which means that ING charges 0,1% of the transferred amount, a minimum of 5 Euro and a maximum of 50 Euro. For transfers of up to EUR 5.000 at a time, this means a EUR 5 commission for ING. As of April 1, 2013, the minimum rate will go to 6 Euro. The Bangkok Bank charges 0,25% commission with a minimum of 250 Thb and a maximum of 500 Thb. Don't know if you find these costs exceptionally high, I certainly don't and have been doing it for over 6 years.
Note about service ING: will be personal but took money from the machine for a number of years. Pinned 10.000 Thb but saw on arrival home that it had only received 7.000 Thb. Contacted ING and 3.000 Thb was simply reimbursed.
How many transactions does ING process per day and how many cause problems? Simply saying that ING is no good goes a bit too far for me.
From ING to Bangkok Bank the fastest way is 2 – 3 days; consult your ING Bank!
How many? If it is a small amount, you will lose a lot, but say 10.000 euros, internet banking, foreign payment. You then have the interbank exchange rate and bad irest of 10 euro fee. Is there with normal payment in 2 working days
Dear Adje,
The fastest way is to Krung Thai Bank (KTB) on bank account number 089-5776-711 in the name of Cor verhoef. Small amounts, large amounts, live it up 😉
I transfer money from Rabo Bank to Kasikorn Bank myself. Normally this takes two working days, sometimes a maximum of three. The Dutch banks use the purchase rate for THB.
Hank,
can only talk about ING and Bangkok Bank. Thai bank does not use the purchase rate but the TT rate. TT stands for Telegraphic Transfer.
ABN-AMRO Hoofddorp to Kasikorn Hua Hin
Transferred 12 hours, credited 12 hours the next day
Bank transfer rate, always correct
Costs € 5.50 per transaction, regardless of the amount.
If it takes that long, it is likely that something is wrong with the transfer. What happens to us once with a transfer is that the name belonging to the bank account was not exact. The Thai bank then blocked it. I think it would be wise to inquire with the Thai vank.
good day dear people.
I transferred via the ING bank to the Bangkok bank.
At the Ing 5 euros extra and Bangkokbank has also deducted 5 euros.
The money was there in 3 days on the account of girlfriend.
You must enter your girlfriend's place of residence correctly.
because we who write differently if they want this to cause problems.
the problem of Khorat or korat.
Now there are 3 people happy with the Ing. Bangkok bank and a little boy of 6 😀
Sincerely Michel.
Hello
I always keep 3 working days and never encountered any problem
maybe you count saturday and sunday, but you shouldn't
If you transfer on Monday, she will have it on Wednesday or Thursday, but if you transfer it on Friday, for example, she will probably also have it on Wednesday
I send with Western Union, you pay costs for this, but 10 minutes later she can collect the money with the code in any office that is provided for this and best send euros and change there..... I exchanged there and then got 34 here and in Thailand 45 baht
For me, the best way is simply to use "Western Union". I have put it to the test myself. A deposit via KBC to an account in Thailand (Kasikorn Bank) took 6 days and in addition I had to pay 37,5 euros bank costs on an amount of 185 euros. (simply outrageous).
For the same amount I paid a 20 euro fee at Western Union and my recipient could get the money half an hour later at the post office or at a Western Union agency.
There may be other possibilities, but beware of malicious practices because the internet is full of them.
I gave my girlfriend a bank card from ING.
I deposit into an account of the ING of which they have a card a certain amount.
Then she can simply withdraw the money in cash in Thailand.
Hello I think you should use abn.within 3 days always transferred to the kasikorn bank. regards
I transfer money via ING to my account in Thailand, at Bangkok Bank.
By Internet.
From Thailand.
Costs 1 promille over the amount transferred, plus 25 euros.
The next day it was credited to my account in Thailand.
Well, I also did Western Union, but that was still a bit too expensive, now I do it via a pre-paid credit card, if I now transfer money from my account to this card that my wife has, it takes 2 days and almost nothing of expenses outside the debit card at her costs, a 60 bath approximately only on the mastercard network.
I just looked at the Western Union website. Costs are very high indeed. For 5000 euros you pay 131 euros in costs. I don't understand why everyone is so enthusiastic about Western Union. Also note that you must send all your identification details to them if you transfer money more than twice a year. Exchange rate also very bad. Now only 2 Baht. I've never heard of a pre-paid credit card. I'll google it soon.
WESTERN UNION money transfer is immediately deposited into the beneficiary's bank account and can be withdrawn immediately in cash in local currency
First of all, thanks to everyone for all the advice. Nice to see that this simple topic is generating a lively discussion. Most ignore my question. I don't want to open an account in Thailand. I do not want to open an extra account in the Netherlands. I don't want to withdraw money in Thailand.
All I want is to occasionally transfer money to my wife's Thai bank account. (who now temporarily resides in Thailand) Nothing more and nothing less. When I read the responses, most of them have no problems with transferring money. It is striking that ING is the only bank with negative reactions. Even if there aren't many. In my opinion, Western Union is the best solution. After receiving the money, she can then transfer it to her own account. Unfortunately I can't respond to every comment, but I think it's great that there are so many who think along with me. And to Cor Verhoef he wants to say: I like your reaction. If it yields anything, share it together.
Dear Adje,
against my better judgement, yet another reaction. What is the essential difference in transferring to your own Thai bank account or that of your wife? Principle remains the same. So you don't have to open separate accounts.
I don't know which bank you use in the Netherlands, but you can easily send an amount in Euros to a Thai account via a foreign transfer. Experience has taught me (haha) that I use SHARE and not BEN. With BEN (all costs for recipient), the costs of the Dutch bank are also deducted from the amount to be transferred, but you do not see this.
Example for a transfer of 1.000 Euro:
SHARE 1.000 Euro, separate costs stated on your statement 5 Euro (at ING)
BEN 995 Euro, separate costs not mentioned (already deducted from amount)
In addition, Thai bank charges.
I also continue to find it sad that the negative experiences with ING apparently receive much more attention than positive reports. Can also mention personal negative experience with eg ABN-AMRO here, but do not do this because that is mi non-information. What also strikes me, but maybe I'm wrong, is that holidaymakers sometimes think they know better than people who have lived in Thailand for years. Think hard about only reading Thailandblog now and then and not responding to questions anymore.
Greetings from Thailand,
Rob
Dear Rob, I also don't know the difference between transferring to my own Thai account or to that of a wife. That is also the reason why I do not want to have my own account in Thailand. I also don't understand the advice to apply for a second account in the Netherlands and send the card to Thailand. I can also request and send an extra card from my current account. Or it may be that they don't trust their spouse. You say you don't know which bank I use. If you read my question carefully, that is clear. Moreover, more people suffer from not being able to read properly. The worst example is that someone asks in a response how they can apply for a visa for 2 months. In my opinion, this comment should never have been posted here. It probably slipped through. I can understand that. The moderator is already busy enough checking all texts and checking all sentences to see whether they start with a capital letter and end with a period. I do not agree with your statement that ING's negative experiences receive more attention than the rest. That's your interpretation. Most reactions about transferring money are positive. One person is satisfied with ABN, another with Rabo, another with Western Union, and yes, there are also those who are satisfied with ING. To those who are satisfied, I would say to continue in the same way. The negative reactions regarding the transfer (I'm not even talking about the costs) are mainly about ING. And yes, negative news simply gets more attention. That's why the newspaper is full of it every day. I have no experience transferring money to Thailand. It was the first time for me. I thought it took a long time, hence my question here on this site about the experiences of the readers. And honestly, I'm still not sure how I'm going to do it next time.
Transferring money to Thailand or other countries outside the EU is actually very simple.
What is required: Name, address and account number of the beneficiary.
Name and address of the bank and the SWIFT or BIC code of the bank.
The Swift or BIC code is very important.
When you transfer this via internet banking, the money will be in the Thai account in 2 to 3 days.
Have done this several times also via the ING.
I also do this professionally.
Good luck.
I think there are a lot of people here on this blog who can't count.
Above I made a calculation via western union for an amount of 5000 euros, the costs are 131 euros and the exchange rate is 37.35, which is now 38.63 at Kasikorn.
At 5000 euros I arrive at a difference of 11455 bath, this has to do with the fact that I work with Argenta and that is completely free of charge.
If you transfer directly to a Thai account via Western Union, the costs are considerably lower, but this does not change the exchange rate and makes a difference of more than one bath per euro.
Many of the same comments. Banking costs money.
Whichever bank you take it takes a few days.
Western Union was created to transfer money to people in countries that do not have a bank account.
The costs for the transfer are very clear on the Western Union site.
You have the least costs with a prepaid credit card. As mentioned earlier, take a look at moneybookers.com
I also wonder how the moderator of the website sometimes adjusts capital letters himself, removes others that do not use capital letters, allows chatting with one of the editors and allows a visa question here again and then rejected a normal response that I had written .
Shame! It was so much fun.
Which rate is more favorable?
The rate that the bank charges (in my case the ING) when transferring money to Thailand, or the rate that one gets when withdrawing money in Thailand?
This is not quite clear to me yet.
kind regards AAD
I transferred money from ABN account to Thailand on 28-02-2013 girlfriend has a bank card from ABN, got 38 bath for one euro. Doesn't go well with the expensive bath.