What are the best options for transferring large sums of money in USD to a Kasikorn bank account in Thailand?

Short version: check currencyfair and dedicated brokers such as global reach, but Wise comes extremely close (within 0.13% when I checked) and is easiest and most transparent, and can support limit orders (where an exchange is triggered by a certain rate).

Longer version when I looked into it a few weeks ago:

Global Reach just gave me a quote, £20k 6th Dec 5pm gmt+7, 42.59 no fees, so 851,800 (haven't clarified but assume 500 Baht receiving fee would also apply)

Interbank at time 42.7467.

Bangkok bank TT buy at time 42., net 845,950 Baht

Wise at time 42.7570, £110 fee (0.5%), net 850,430 Baht

Currency club 849,867

Currency fair 851,923 (assume receiving charge of 500 Baht to come off too)

So Global Reach better than Wise but only by 900 Baht / 0.1%

Currency Fair better than Wise by 1,100 Baht / 0.13%

On CurrencyFair and Wise, you can put a limit order, or automated transaction, that triggers if a rate reaches a given level. These need time and care, but are great for grabbing a rate that is only available briefly due to a momentary spike.

On cards, the Visa rate is best, adds just 0.3% to the ECB interbank rate, which is what Wise gives. MasterCard add 1-2% more. So spending on card too, Wise comes out a percent or two better than even fee free Mastercards.

If you need to show that it's international transfer, I think only a few banks can do more than 50,000. My KTB bank can not by Bangkok Bank can.

You will want to look at wire transfer fee vs. Wise fees. I am told larger sums of money, it's less expensive to do wire transfer.

Transferwise...

Lowest fees so far

I too have been using WISE and you can just to a trial by feeding in your amount of transfer to see how much and compare with any other means like Western Union or any other means you prefer. Wise gives the best transfer rate and low fee selection. I usually just choose the direct transfer because it has the least fee. I am from Canada not the US but I feel they are the best. Kbank, SCB and Bangkok bank are the only ones you can send more than 50K Baht at one time.

Wise or use crypto

I normally use Transfer Wise. I have sent some money for buying the properties as well. The max you can transfer to Kasikorn Bank is 2M THB. (I have sent GPB to THB by the way)

Wise Transfer

If u bring cash make sure not ripped or someone wrote on it they will not except it Kasikorn bank is good for not taken it that’s the bank we use

Wise

My Thai wife and I just did this with Bangkok Bank, we transferred directly from our US Bank account, it took 1 day

Get yourself a Charles Schwab brokerage and checking/savings account in the states. All can be done online. Do an international wire transfer via USD to the Thai bank. Thai Bank will give you a better rate if it is a large sum. Charles Schwab wire transfer fees is only $15. If you just open an account the first 3 wire transfer fee is free.

For large amounts use SWIFT international bank to bank transfers.

If you open a Bangkok Bank account, you can (or at least I can), transfer direct from some US accounts to Bangkok Bank, at a great rate. Because Bangkok Bank has a branch in NYC.

Use normal international bank wire transfer for large sums. It's safer and cheaper than wise or other services.

Transfer in your currency you get a better rate from green bank .I Transfer £ sterling every month to my thai account,

Xe.com

Check Kasikorn's rates here. You want the buying telex transfer rate, currently 34.4.



Can compare with Wise etc. Used be Wise was cheaper even for a very large amount but may be better to do a bank transfer now. Fixed fees will be whatever your US bank charges for the wire (typically $30-50) plus I think 500B on arrival.

Kind of missed the boat we were at 39 for a spell.

Before you transfer money to buy a house or condo, please inform yourself about the conditions for doing this. There are certain steps to follow, and how to transfer money to Thailand one of them.

Good luck.

I use Wise and the UK transfers to my Kasikorn account usually occur very fast