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What are the fees for sending money with Wise and how to avoid SWIFT transfers to Bangkok Bank?
Bangkok BankMoney Transfer FeesSWIFT TransfersWiseRevolutInternational Money TransfersThailand BankingExpat Finance
Oct 2, 2024
2 years ago
М. ****
ORIGINAL POSTERHello guys, i have Bangkok bank account for a while, but never used it before. Now i went to fix my online banking, and visited two separate branches to do so. Both of them told me different prices as a comission for money sending. First branch told me 100 baht the second one told me 1150 baht. Can you tell me how much of a fees you pay sending money with revolut and is there any specific way to avoid the SWIFT transfer?!?!
TLDR : Answer Summary
The post discusses the challenges faced in sending money from abroad to a Bangkok Bank account, focusing on the differing fees quoted by local branches and the desire to avoid high SWIFT transfer costs. Users suggest alternatives like Wise and Remitly which reportedly incur lower fees and clarify that SWIFT cannot be fully avoided, but costs can be minimized. Discussions also explore the specifics of Wise, including its fee structure and how certain transfer reasons can influence whether a transfer is classified as international or domestic.
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David *******
Wise is the best i have used but not always instant, it can depend on the bank here.
Eddie ********
Wanted to transfer €10,000 from Ireland and Wise wanted to charge me €170 and my bank was €15. Never tried Wise before but had an account setup but based on my experience would not use it going forward. Perhaps I was doing something wrong though. Also I had to wait 2 days through my bank and perhaps Wise would have been much quicker.
Greg ***********
@Eddie *******
They may have only charged you 15 E but check the exchange rates. That's where the bank makes it's moneyReply to
Greg ***********
Reply
Frank ******
Wise charges 1% on amount sent
Dave *******
@Frank *****
price has gone up few weeks ago nowGraham ******
@Frank *****
The Wise fees are always clear up front and you know the exact amount that will arrive in your Thai bank account before commitingReply to
Graham ******
Reply
Tore *********
Your post doesn’t make any sense. You just transfer it to your account. With wise its cheaper for anything under 2 mill. Above that use your bank with swift.
There’s no action or fee needed from Bangkok Bank side
There’s no action or fee needed from Bangkok Bank side
Peter ****************
With Wise use 'funds for long stay..........'. It was gone but is back already. With wise the banks don't calculate fee. This is only with 2 ways of swift transfers SHA and BEN as costs. With OUR you pay everything with sending bank.
Greg ***********
@Peter ***************
even with OUR, the Thai bank will charge a 200-500 Baht fee for receiving the funds from abroadinto your account. I found that out a long time ago.Maybe it changed?Peter ****************
@Greg **********
Mm, strange. I remember, also long time ago before the "Wise era 😉", I made a mistake with swift transfer to my girlfriend's SCB account, and she got exactly the money without bank fee. I even asked her to check a couple of weeks later, because sometimes fees will be deducted some time later. After that I always used BEN because it was cheaper on balance. Well anyway, you don't have to use swift anymore 😉Tore *********
@Greg **********
i just checked to make sure, Bangkok bank doesn’t charge me anything to deposit Baht from WiseGreg ***********
@Tore ********
because WISE uses a domestic transfer from their Thai bank account for most transfers. NOTE: I said SWIFT, this is a transfer coming in from abroadTore *********
@Greg **********
yeah I misunderstood your commentМ. ****
ORIGINAL POSTER@Greg **********
And Revolut doesnt?Greg ***********
@М. ***
i must admit I have not the faintest ideaReply to
Greg ***********
Reply
Greg ***********
@Peter ***************
good to know. So this purpose is back already? Are you sure it will code the transfer as coming from abroad? So was this only a glitch of the WISE website?Reply to
Greg ***********
Reply
М. ****
ORIGINAL POSTER@Tore ********
So wise/revolut transfers are not SWIFT transfers?Greg ***********
@М. ***
it depends. If the WISE transfer needs to be coded as coming in from abroad, it will be a SWIFT transfer. If you don't need that proof, the WISE transfer will be made from a Thai bank account und thus will be coded as a domestic transfer. For receiving a SWIFT transfer from abroad, most Thai banks take a fee between 200 and 500 Baht. For a domestic transfer, no fees applyМ. ****
ORIGINAL POSTER@Greg **********
I dont need proof of anything, just to send money into BKK bank account, thats it.Greg ***********
@М. ***
well, okay. It's the Brits, americans and Aussies whose embassies don't issue income affidavits any more. so they need 12 months of bank statements of incoming 65.000 THB from abroad. For a WISE transfer to be coded as coming from abroad, the only way is by choosing the correct purpose which is "purchase of property". (it used to be "costs for living in Thailand" but this purpose has vanished from the WISE website a few weeks ago!)Von ******
@Greg **********
nope 👎🏾 just logged into my Wise and went to send money to my BKK Bank Account and it has been reinstated by Wise.Greg ***********
@Von *****
make sure it still is coded as coming from abroadVon ******
@Greg **********
yes, checked ✔️ the deposit says International funds transfer in my BKK Bank account. Cheers for that.М. ****
ORIGINAL POSTER@Von *****
@Greg **********
, so guys if i want my funds to be transfered locally without the SWIFT fee i have to use "Funds for long term stay in Thailand" right? Which of the options is with the lowest fee? I am not retiree, and my income is from before March of this year, i just have 2 more months in Thailand and since my EUR cash that i got finished, i need to transfer 40k baht.Greg ***********
@М. ***
for the fees being lowest, you need to pick the "bank-to-bank" method WISE offers. The most expensive method is "credit card"М. ****
ORIGINAL POSTER@Greg **********
yeah, i am going to do it, but do the reasoning for the transfer imply additionall fees or they doesnt really matter? Talking about thoseGreg ***********
@М. ***
these reasoning choices do not change any fees. The fees are made up according to the method of bank transfer you choseМ. ****
ORIGINAL POSTER@Greg **********
So the reasons that i have posted doesnt matter what you are going to pick?Greg ***********
@М. ***
the reasons only define if the transfer will be coded as coming from abroad or coded as an inner-Thailand transferReply to
Greg ***********
Reply
Ross **********
How much is costing a minimal amount? The more money you send the higher the fees
Conny **********
You can't avoid swift. What you can do is minimise your cost. Use a service like wise to send money to your Thai bank account
Rene ********
@Conny *********
but if more than 180 days in Thailand, zap, they gottcha !Conny **********
@Rene *******
that is a totally different question....Of course you follow the tax laws for the jurisdictions that you have....
Rene ********
@Conny *********
no jurisdiction is the best oneConny **********
@Rene *******
you always have at least one....Rene ********
@Conny *********
, son far son goodRene ********
long time on the trot
Reply to
Rene ********
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Ian ********
Use wise
М. ****
ORIGINAL POSTER@Ian *******
how wise is different?Ian ********
@М. ***
Easiest and cheapestReply to
Ian ********
Reply
Andreas *********
I don't know if I understand you correctly, but when I send money from Europe to my Bangkok Bank account, I only use Wise and Remitly. It costs a minimal amount.
Mikkel *******
@Andreas ********
wait.. does Bangkok bank charge you for depositing money?I transfer to Kasikorn each month. Only way I get charged by them is if I use swift from my bank. Used Wise in the past, and using Revolut now. Not getting charged at Kasikorn at all for that. Only pay the fee in the app for the transfer.
Andreas *********
@Mikkel ******
I only pay the app feeReply to
Andreas *********
Reply
Andre *************
I use Ria Sikhone to sent money from South Africa to Thailand Cost is minimal
Kenneth *******
I don't know who sent my money. The money is in Thailand on the 4th of each month.
Rene ********
@Andreas ********
that's the good answerReply to
Rene ********
Reply
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