I was just curious. The best way to transfer the 800,000 baht that is required for visa from your bank in America to a Thai bank when opening a new account. Do they have a domestic router number in Thailand? Thanks
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TLDR : Answer Summary
Transferring 800,000 baht to Thailand for visa purposes can be done through methods like a bank wire transfer or using services like Wise. A SWIFT code is necessary for international transfers, as traditional U.S. routing numbers do not apply in Thailand. Users have shared experiences indicating that Wise may have clearer fees and faster processing compared to traditional bank transfers. It is recommended to ensure the transfer's purpose aligns with the visa requirements, such as indicating it's for a long-term stay.
Wise TRX - “Funds for long term stay in Thailand” cited reason so the TRX shows as international Transfer when the bank statement used for Non-o extension.
Routing numbers are a US system for US transfers, just like IBAN is a European system. It isn't used in Thailand. For international transfers, you need the SWIFT code and the bank account number.
I found the swift transfer a bit more intense than just a simple Wise transfer. With Wise you know exactly where you stand as far as fees are concerned. The swift transfer from all I have ascertained might come in below what you thought you were sending after the fees from both sides and the exchange rate come clear.
For me in the U.S. when I inquired about the swift transfer, which I thought was a good idea at NFCU only being $25, it went on to say that the receiving bank may have charges and that the exchange rate was based on some mid-rate whatever, excuse my lack of clarity please, and it kind of left it up in the air exactly how much one would receive. I used Wise because I knew exactly what the homeowner of the house I am buying would receive. Not discounting your experience at all.
I just went through today when I used Wise. It seemed that if you did a wire transfer it needed to go to Wise's JP Morgan account then to your account as a domestic transfer. I wasn't sure if that would show it as a domestic or international transfer, so I went with the transfer directly from my bank, fees sucked compared to wire transfer but I felt better about it showing as an international transfer. If you go straight from your bank, you need the swift code for whatever bank you are transferring to. My research showed that after the $25 fee from Navy Federal credit union, the possible charges from your Thai bank and a less than favorable exchange rate, Wise was the way to go. At least with Wise you know what you are getting upfront. Also, it's 800,000 baht for a visa.
yes, we all just jumped over the fact that he's talking about opening a new bank account. We were talking like he is trying to fund an existing account for a visa 😞
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