Answered4 months ago
How do Australians transfer money to their Thai bank accounts from Westpac while ensuring compliance with immigration requirements?
An Australian in Thailand asking a banking question if you do not mind. I have Westpac accounts my pension is paid in to and I plan to open a K-bank account.
Do Australians set a monthly automatic transfer with Westpac to K-bank or do you do it manually?
Do you use WP to convert to baht in Australia or deposit Au$ so K-bank do the conversion to show foreign currency has come in?
Just need to know the best way to show the required paper trail, not interested in saving a few dollars, confident compliance has some cost. Thanks in advance.
Do Australians set a monthly automatic transfer with Westpac to K-bank or do you do it manually?
Do you use WP to convert to baht in Australia or deposit Au$ so K-bank do the conversion to show foreign currency has come in?
Just need to know the best way to show the required paper trail, not interested in saving a few dollars, confident compliance has some cost. Thanks in advance.
Answer summary
An Australian in Thailand is seeking advice on the best method to transfer funds from their Westpac account to a K-bank account. Community members suggest using Wise for the best exchange rates and to ensure a clear record of foreign currency deposits, which is crucial for immigration requirements. Most advise against direct transfers from Westpac due to higher costs and recommend converting AUD to THB in Wise before transferring. It's important to show the transfer as a foreign remittance for compliance. Options like Remitly and Western Union are also mentioned, but Wise is consistently recommended as the preferred method.
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Gary *********
Westpac for me, And then transfer to wise in Minutes , Seems to work for me although im not retired so no pension, I just like Wise in Thailand
John *******
I'd be wary of Westpac. They recently cost my son a lot of money in tax by refusing to allow him to buy stock in his business name and made him buy the stock from his business account in his own name (which I think was illegal). They then blocked all access to the account and refused to allow him to put in his business tax return. I've had problems with Westpac in the past myself. e.g. I was scammed by a US company and realized it in time to close the account I'd given them details of, so Westpac paid the scammers from another account of mine. I've had NO trouble transferring money to K bank from my Nab account in Oz.
Dave ********
Gday Stu.
I am with westpac and Kbank.
I use WISE to transfer money from Oz to Thailand, never had a problem at Surin Immigration.
Westpac were way too expensive for transfers, from memory they were about 3thb less fir every aud$. I have never tried sending AUD and letting Kbank do the coversion
I am with westpac and Kbank.
I use WISE to transfer money from Oz to Thailand, never had a problem at Surin Immigration.
Westpac were way too expensive for transfers, from memory they were about 3thb less fir every aud$. I have never tried sending AUD and letting Kbank do the coversion
Stu ******
OPThank you to everyone who took the time to answer. Correct me if I am wrong, but my plan will be,
WP Au$ to my Wise account.
Convert to baht in Wise.
Wise to K-bank in baht
Use K-band app settings to indicate foreign transfer.
Benefits, simple, Reasonable rates, paper trail and available funds.
Cheers and sincere thanks.
WP Au$ to my Wise account.
Convert to baht in Wise.
Wise to K-bank in baht
Use K-band app settings to indicate foreign transfer.
Benefits, simple, Reasonable rates, paper trail and available funds.
Cheers and sincere thanks.
John ********
I use wise to transfer from Bendigo bank to Bangkok bank much cheaper than bank to bank.
Peter ********
Most use wise to transfer . I use Westpac to kbank via wise simple once it’s set up . Almost instantaneous
Max **********
You do Overseas transfer option into your Kasikorn a/c using Swift code. No direct debits overseas.
Stu ******
OPMax Marriott thanks Max. I do not understand swift codes. The only time I have needed to use them was purchasing car parts out of the USA and it was a PITA to be honest. I guess K-bank staff will help me set my account details in to my Wise account for the payment and it will be there forever. Cheers.
Victor *********
I live in Florida and need to obtain a non immigrant B visa for my return to Bangkok and can you guide me to the right agency?
Miyamoto *********
Use Wise.
Ian **********
I use Wise
Sam *********
Revolut is a good way to go. Used wise for my pension but to many issues. Freezing account and delayed transfers then someone hacked there system and drained my account.
Peter **********
I use western union app here in Thailand i transfer with them I make sure I have Australian dollars in my bank in Australia i get the money instantly in my bangkok bank
Peter **********
Western union gives the best rate and charge you 2.99 baht
Donald **********
Peter Fauvette Are you sure about that? Never found Western Union cheap, just occasionally convenient in the early days.
Wez ***********
Wise is your best bet, I use it to transfer from Westpac to K bank.
GreenPo********
Just set up a wise acc and transfer aud to ur thai bank when ever u want transfers take seconds
Stephen ********
GreenPomelo3895 agree thats what i do and im with Westpac to
Stu ******
OPGreenPomelo3895 I have a wise account but it is in baht. Doing the transfer out of wise in Au$ solves the problem. Let K-bank do the conversion and get the foreign transfer recorded. Cheers
Gary ********
can you transfer money bsck from your thai bank account to australian bank account
Turquoise**********
Gary Boylan You can as an International transfer. I haven’t found a better or cheaper way other than converting Thai baht to Aussie cash and bring back to Oz
Graeme *******
I'm from NZ and same bank, do a Wise transfer when required from Wesptac to my BBK Bank acc easy and painless, only problem NZ $ is crap.
John ********
Have you considered using Wise, Revolute, Tap Tap Send or any other variation for faster transfers and better exchange rates?
Paul *******
You transfer yourself Aussie banks won’t do it
James *************
I keep my Aussie account
my Pension goes into .....
I have downloaded the Remitly App
signed up
Then monitor the exchange rate for best
Then once a month transfer the amount immigration want to see going into that Thai account
Remitly charge $1.99
my Pension goes into .....
I have downloaded the Remitly App
signed up
Then monitor the exchange rate for best
Then once a month transfer the amount immigration want to see going into that Thai account
Remitly charge $1.99
Ant ***********
AUD bank
To
Wise
To
Thai Bank
To
Wise
To
Thai Bank
James ********
Ant W Tailor Most sensible post ive seen in a while. Well done.
Stephen ********
Ant W Tailor 👍👍👍💯
Stu ******
OPAnt W Tailor wise to Thai bank in Au$, To record foreign currency transfer?
Kevin ************
Stu Bond When transferring from Wise to your Thai bank, there is 2 drop down boxes. First one asks why you are transferring money. The second box asks if you want the transaction recorded as coming from a foreign country.
Ant ***********
Stu Bond
Au bank
To Wise
Then within wise
Convert to Thai baht
Then move to Thai bank
It will give you the option to describe the transfer
I just select “ funds for long term Visa “
Au bank
To Wise
Then within wise
Convert to Thai baht
Then move to Thai bank
It will give you the option to describe the transfer
I just select “ funds for long term Visa “
Ling *****
Nearly all of us use Wise. I got NAB and it works very well and with a good rate.
Mary ********
You'll save heaps in conversion rates if you open a wise account. Transfer AUD into wise, watch for a good conversion rate, convert to thai baht in wise then transfer to your Thai bank. Bank conversion rates are always less than wise.
Stu ******
OPMary Gerber read last week that someone took their bank statements to show 12 months transfers and they were told no, start again. Reason given, the money Wise dropped in to his account was baht. Thailand now has Wise home bank agreements. No foreign transfer was recorded. He may have been with B-bank, I do not know, but that is why I thought to ask.
The important issue is showing the monthly deposit as foreign money transfer.
Any thoughts?
The important issue is showing the monthly deposit as foreign money transfer.
Any thoughts?
Mary ********
Stu Bond we've been using it this way for going on 4 years from WP to wise then to B bank. However, I also use k bank for daily spending and in the app it asks if you need it to show international transfer, I believe if you tick the box it will show as needed. The key for us is we have always ensured we use long term overseas living expenses in the memo spot. Never had issues with this method and we apply on our own without an agent for each renewal. It may however be different at different immigration offices, we do ours in Hua Hin.
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