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