Answered3 years ago
What are the best and cheapest ways for Americans to wire money to Thailand and get good exchange rates?
The best & cheapest way to wire large amounts of cash to Thailand for Americans and to get the best exchange rate using a credit card.
If you are a veteran or a family member of one, you can qualify for NFCU membership. They are one of, if not the largest, credit unions in the world.
Wiring from an NFCU account to a Thai account, any amount of money, is a straight $25 wire fee. Depending on the bank, it will show up within 1-4 days. Always send US dollars as you will get a better exchange rate by the receiving bank in Thailand.
The best way to avoid any worries about Thai taxes, AND get the best exchange rate for dollar to baht, while racking up credit card reward points, is to use the NFCU flag ship VISA rewards card and not have the transaction on the radar. NFCU Visa gives you whatever the international exchange rate is at the time of your purchase, and you can use the credit card in most businesses that accept credit card.
I used to be a big fan of NFCU; however, their services have deteriorated since they opened up membership to branches. Regardless, if you are eligible, it can save you a lot of money. Drop a note if I can answer any questions.
If you are a veteran or a family member of one, you can qualify for NFCU membership. They are one of, if not the largest, credit unions in the world.
Wiring from an NFCU account to a Thai account, any amount of money, is a straight $25 wire fee. Depending on the bank, it will show up within 1-4 days. Always send US dollars as you will get a better exchange rate by the receiving bank in Thailand.
The best way to avoid any worries about Thai taxes, AND get the best exchange rate for dollar to baht, while racking up credit card reward points, is to use the NFCU flag ship VISA rewards card and not have the transaction on the radar. NFCU Visa gives you whatever the international exchange rate is at the time of your purchase, and you can use the credit card in most businesses that accept credit card.
I used to be a big fan of NFCU; however, their services have deteriorated since they opened up membership to branches. Regardless, if you are eligible, it can save you a lot of money. Drop a note if I can answer any questions.
Answer summary
This post discusses various methods for Americans to wire money to Thailand cost-effectively, focusing on the use of Navy Federal Credit Union (NFCU) for money transfers and credit card payments. It highlights that NFCU offers a $25 flat fee for wire transfers, and using their VISA rewards card can help avoid cash advance fees while benefiting from favorable exchange rates. The post suggests sending US dollars to maximize exchange value and mentions concerns about NFCU's service quality since expanding membership. Comments provide alternative services like Wise and Charles Schwab as potentially cheaper options.
19 repliesnewest first
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Martin *********
I use a service that takes minutes and costs $4 , it's also pretty close to the official FX rate, this is robbery.
George *************
My understanding from reading the following is that NFCU charges a $1.00 non-network ATM access fee and reimburses up to $10.00 per month of non-network ATM fees (e.g., 220 baht in Thailand):
Compare to Charles Schwab Interest Checking which doesn't impose a $1.00 non-network ATM access fee and reimburses unlimited non-network ATM fees per month (including the 220 baht ATM access fee in Thailand. Also, no minimum balance and no maintenance fees.
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Compare to Charles Schwab Interest Checking which doesn't impose a $1.00 non-network ATM access fee and reimburses unlimited non-network ATM fees per month (including the 220 baht ATM access fee in Thailand. Also, no minimum balance and no maintenance fees.
Stacey ****************
OP@George ************
the cheapest, and most convenient way I’ve found is wiring money to my wife at her BANK OF AYUDHYA account, they give very close to the international exchange rate for dollar to baht, and then she transfers it to my Kasikorn account where I have an ATM card with them and can use their scan app or ATM. Bank wires to Kasikorn resulted in them taking a little more than 1 baht per dollar in exchange rate.
Stacey ****************
OP@George ************
the post was not about ATM. The point is that using their flagship visa credit card is the easiest and cheapest way to use USA monies in Thailand as they do not charge a conversion fee from dollars to baht, the financial transaction occurs outside of Thai tax review/obligations, AND you rake in 3+% rewards.Matt *****
your credit cards don't trigger a cash advance fee with this?
Stacey ****************
OP@Matt ****
not when you use them as regular credit card say at 7-11. If you use them as ATM, yesMatt *****
oh i thought you meant to send a wire using your credit card
Stacey ****************
OP@Matt ****
not that I’m aware of. The NFCU flag ship Visa gives whatever the current intentional exchange rate is for any charges, they stay off the radar for any tax implications in Thailand, and you rack up 3+% rewards. Best way to convert US dollars into ThailandClint *********
Wise is way cheaper and only takes a few seconds to transfer from the US to Thailand
Geoffrey ******
@Stacey ***************
Great Post, and you are *****
0% on target. I have been a member for 32 years and use NFCU exclusively.Stacey ****************
OP@Clint ********
of course you are not and of course you are not eligible fro membership.Run along coward. You’ve got nothing valuable to add here, or in life.
You’re just another rude coward that gives expats a bad name.
Clint *********
@Stacey ***************
hell no I'm not a member. I would have nothing to do with the military. You sound like another brain washed individual. You can keep this service. It sucks. You can push them all you want. Charles Schwab and Wise are hands down better. You sir are the jackwagon 🤣🤣🤣🤣🤣.Will will never convince anyone here to stop using Wise.
Stacey ****************
OP@Clint ********
for amounts over $5,000, By in person, they mean they verify the wire in person on the phone.Stacey ****************
OP@Clint ********
$1,000’hasn’t been a lot since I was a boot Marine. listen clown. you are wrong. I’ve sent my wife large amounts repeatedly for our condo, our wedding, etc. I’ve been a member of NFCU since 1990. Are you a member? Do you have a clue, or are you just another barstool Jackwagon looking for relevanceClint *********
@Stacey ***************
$1000 is not small. Not sure what you are trying to prove, but you are wrong. You also can't transfer more than 50k baht into Thailand. There are only 3 banks that allow this.Also directly on NFCU website it states that any amount sent for $5,000 or more to a third party aka a bank account can only be done in person. This is of no use to ppl not located in the US
Stacey ****************
OP@Clint ********
for small amounts of money. For regular amounts it is more expensive.Clint *********
@Stacey ***************
the most I have ever paid is $8 in change. And it arrives in under 30 secondsActivity
6 joined6
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