Answered2 months ago
What is the best way to transfer 800,000 Baht from a US bank to Thailand while obtaining an FETC?
Hello everyone,
What is currently the most efficient way to transfer 800,000 Baht from a US bank to a Thai bank with the lowest fees and exchange rate markups?
I strictly need the FETC / Credit Advice / Foreign Exchange Transfer Certificate (formerly FECT) for immigration purposes.
If you have done this recently:
* Which method did you use?
* What were your exact numbers/losses?
I am focused on minimizing transaction losses.
FETC / Credit Advice / Foreign Exchange Transfer Certificate is ABSOLUTELY MANDATORY.
⚠️ PLEASE DO NOT RECOMMEND AGENTS.
Thank you!
What is currently the most efficient way to transfer 800,000 Baht from a US bank to a Thai bank with the lowest fees and exchange rate markups?
I strictly need the FETC / Credit Advice / Foreign Exchange Transfer Certificate (formerly FECT) for immigration purposes.
If you have done this recently:
* Which method did you use?
* What were your exact numbers/losses?
I am focused on minimizing transaction losses.
FETC / Credit Advice / Foreign Exchange Transfer Certificate is ABSOLUTELY MANDATORY.
⚠️ PLEASE DO NOT RECOMMEND AGENTS.
Thank you!
Answer summary
The most efficient methods discussed for transferring 800,000 Baht from a US bank to a Thai bank are through SWIFT transfers and using services like Wise. Users emphasize minimizing transaction losses while ensuring the receipt of a Foreign Exchange Transfer Certificate (FETC) for immigration purposes. SWIFT transfers are noted for reliability and appropriate documentation, whereas Wise offers competitive rates and can facilitate international transfer status if correctly set up. Some users have raised concerns about exchange rate markups and the requirements for documentation from the receiving bank.
29 repliesnewest first
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Bill *********
I've been using the SWIFT system. It's been around for years so very reliable and gets the job done quickly, perfect for meeting immigration requirements.
Tom ****************
Charles Schwab
Tim **********
You can bring $20k with you when you arrive to get the account
Paul ********************
You need to do a Swift tx to get the required documents...
Edward ********
For that much, the fees will probably be lower for a SWIFT transfer. Can be a bit of a pain to set up.
Steve ********
Like many, I have always used Wise.com. But I recently heard about TapTapSend.com, which might have better rates - have not yet used it though
MagentaGo**********
WISE
Michael *******
I used Remitly, but deposit amounts are limited to 50k baht per transfer…took a few to get there…I only needed to deposit 400k baht.
On ******
Wise is excellent
Sergey *************
OPWise users:
1. Do you hold "foreign currency accounts" or "Thai account" within Wise? Wise asks this specific question during the registration process.
2. How do you obtain a Foreign Exchange Transaction (FET) form as proof that a transaction was international and that the funds originated from abroad? Has anyone had any luck getting this form from Kasikorn Bank (K-Bank) after making a Wise transfer? This appears to be a mandatory requirement for (at least) the first 1-year visa extension.
1. Do you hold "foreign currency accounts" or "Thai account" within Wise? Wise asks this specific question during the registration process.
2. How do you obtain a Foreign Exchange Transaction (FET) form as proof that a transaction was international and that the funds originated from abroad? Has anyone had any luck getting this form from Kasikorn Bank (K-Bank) after making a Wise transfer? This appears to be a mandatory requirement for (at least) the first 1-year visa extension.
Paul ********************
Sergey Senza Nome for the sake of a $50 forex charge via Swift to do it properly and get all the required documents..
I wouldn't mess about like this...
I wouldn't mess about like this...
Bob **********
What bank are you transferring too if it doesn’t come as a foreign transfer you just need to get a letter from the bank it hit first which is usually Kbank
Sergey *************
OPBob D'Andrea How do I get that letter from the "bank it hit first" if I don't have an account with that bank? Thanks for the answer.
Bob **********
Sergey Senza Nome you walk in and show them the wise transfer they know what to do I’ve done it a couple times over the years but check with your immigration it might not be a requirement
Ant ***********
Sergey Senza Nome
From immigration
From immigration
Sergey *************
OPAnt W Tailor Please clarify. I thought Immigration required that form from the bank, not the other way around
Ant ***********
Home bank
To
Wise
To
Thai Bank
To
Wise
To
Thai Bank
Stuart ***********
I use Wise and select the reason as 'long term stay in Thailand ' or words to that effect and it always shows as an international transfer for me. Wise has a comparison tool, so you can check for the cheapest method (it isn't always Wise).
Paul ********************
Stuart Chiverton and do you get the required Certificate with that.. The guy requires.. I think not
Stuart ***********
Paul Anthony McDermott not sure what you mean. If you mean does it show on my statement as an international transfer -yes. Will the bank issue the required letters for immigration - yes.
Rick ****
Stuart Chiverton Be sure you test it with a small amount first. Reports of it not being flagged properly even if you select this.
Stuart ***********
Rick Ny That's a good idea. I think it depends on the receiving bank. Mine have always been flagged as international transfers to my Bkk bank branch.
SoftPap*******
Just use normal bank to bank swift transfer. The fees are whatever sending/receiving bank charge, usually something like $20 at the sending bank, $10 at the receiving bank. Exchange rate is the TT rate advertised on the thai bank website.
Trabsfering money via wise or similar , usually won't be an international transfer, or generate the appropriate documents.
Trabsfering money via wise or similar , usually won't be an international transfer, or generate the appropriate documents.
Sergey *************
OPYes, my concern is an unpredictable exchange mark up.
SoftPap*******
Sergey Senza Nome the rates are not unpredictable, they are on the banks websites. The TT rate is better than cash rate, and not much different to wise rates, but given fixed fees, often works out better than wise etc on large amounts.
Bob **********
SoftPapaya9740 You’ll get beat up on the rate
Icee *****
Wise
Wannikea *********
WISE
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