Answered9 months ago
Which Thai bank offers the lowest fees for incoming SWIFT transfers?
Which Thai bank has lowest incoming SWIFT fee?
Answer summary
The discussion revolves around which Thai bank has the lowest fees for incoming SWIFT transfers. Notable mentions include Bangkok Bank, which reportedly charges lower fees for mobile banking transactions, and SCB, which has been highlighted for charging fees for incoming transfers. Users suggest platforms like Wise and Remitly as alternatives, often noting their lower fees compared to traditional banks. The conversation also emphasizes how sending and receiving bank charges can vary significantly and impact the overall costs of transferring money.
67 repliesnewest first
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Klaus ***********
How much does Kasikorn charge for incoming SWIFT transactions in THB?
Gary ************
Use wise
Chris ********
I have tried everything and revolt is much better for transfering internationally
Sean **********
It depends on the fees what bank is being sent from too. If I used Bof A it was BANGKOK BANK. if I sent from US Bank it was Kasikorn
Jim *******
My Japanese bank charges no SWIFT fees (as I have funds there above their savings treshold) but the receiving bank, Bangkok Bank takes 550THB for a transaction of 22,000 THB. Just paid my condo yearly maintenance fee yesterday, the condo is with BKK Bank.
I guess, the BKK bank would take their cut no matter what the source bank did or did not charge.
The transfer was via desktop, not mobile app.
I guess, the BKK bank would take their cut no matter what the source bank did or did not charge.
The transfer was via desktop, not mobile app.
Tony **********
I bank here at k-bank. Never seen a few listed on an incoming transfer.
Phil ******
Wise is your best option if you are worried about fees and better exchange
Laurie ******
I transfer from New Zealand Bank, to my Bangkok Bank...$50.00 or $ 10,000.00 get charged $5.00. BKK Bank charge me a different RECEIVING rate every time... Last week transferred $3500.00 got 62.921,95tb ( Ex rate 17.0777 ) received in BKK Bank 62,259.53 -662,42tb =$34.98 NZ Thats just ROBBERY🤬
Berthold *****************
I've heard that not all Thai banks accept "wise" anymore, only SCB and Bangkok Bank.
Igor *********
Berthold von Trauchburg
that means that
you heard wrong !
that means that
you heard wrong !
Buintje ******
Berthold von Trauchburg you are dreaming
John *********
Berthold von Trauchburg Krungsri does
Troy *********
Wise is what I use
Michael *******
Can’t wait til xrp kicks swifts ass with the next option
Jo **********
i pay no fees to transfer SCB
Valère *************************
Jo Clemente SCB Does charge for incoming T/T from abroad.
Jo **********
Valère Jesse Geurts Khaikaew no I have not been charged do it every month
Valère *************************
Jo Clemente You must be very special then.
Jeffrey *********
Jo Clemente It's normally not itemized, just deducted from the amount you receive, so you may not have noticed it. "An inward remittance fee is charged at 0.25% of the inward remittance amount, with a 300 baht minimum and a 500 baht maximum."
SWIFT Inward Remittance | SCB
SWIFT Inward Remittance | SCB
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Mark *********
Swift is no fee, 3% hit on exchange rate Chase bank US to Bangkok bank
Sam *******
Wise has best conversion rate. And fairly low fees
Jimmy *****
Look into
@Rem****
. I pay $1.99 per transfer no matter the amount and is in my bank within seconds.Jimmy *****
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Sigal *****
Jimmy Job from the States?
Jimmy *****
Sigal Jon Yes
Jonathan **********
Use Remitly to transfer
Jimmy *****
@Jonathan *********
*************************
Marcos **********
Uses Crypto (USDT). The best choice
John *****
Marcos Ferreirahow do you withdraw usdt to bank cheaply? I got charged 7% vat when i tried it
Bill *********
Perhaps I'm wrong, but the receiving bank doesn't charge a SWIFT fee; the originating bank does.
Ekkehard *******
@Bill ********
It depends on the SWIFT order.
Alistair *************
Very happy with Western Union which I find to be relatively cheap and very reliable. Wise not so much.
Dee ********
I have been using wise for many years and they have the lowest fee. I used to use Western union but the fees has gone up so I switched to Wise
Andrew ********
Wise is your best option if you are worried about fees and better exchange
Thaimer ******
Andrew Romine I get way cheaper transfer fee with Revolut and basically same rate
Peter ********
Is Wise a thai bank ?
Andrew ********
Peter Bendix link your home bank and debit card to it - its how i pay my rent here and pull cash out for other things
I use true money wallet to pay utilities and phone. Its also not a thai bank account however its handy to use for scan pay and order food with.
You can not link international banks/cards to it
Have to load it with cash.
You can use true wallet to transfer money to private accounts or pay buisness accounts.
You are limited to 30 private transfers a month every time past that is 25 baht fee
I use true money wallet to pay utilities and phone. Its also not a thai bank account however its handy to use for scan pay and order food with.
You can not link international banks/cards to it
Have to load it with cash.
You can use true wallet to transfer money to private accounts or pay buisness accounts.
You are limited to 30 private transfers a month every time past that is 25 baht fee
Andrew ********
Peter Bendix its an app you can use internationally it process debits from your bank as domestic - converts money on app ( fee ) and sends money to bank account / currency you designate it for
Simon ********
Peter Bendix it's a currency card and money transfer thing
Harry ********
Slightly off topic. I send GBP from HSBC to SCB FCD.
No fees whatsoever...
No fees whatsoever...
Jo **********
Harry Martin me also no fee
Harry ********
Foreign currency deposit account...
Harry ********
Read my post: transferring GBP to a FCD account...
Nigel ********
Harry but what are the costs / rates when converting GBP into THB?
Harry ********
Nigel Bunney
TT rates.
TT rates.
Martin ********
Harry Martin if there are no fees then it’s almost certainly built into a poor fx rate.
Allan ********
Martin Drazen he sends GBP
Martin ********
Allan Deacon yes I read that, what’s your point?
Jay ********
Harry Martin but bad conversion rates
Peter **********
Harry Martin global money?
Harry ********
Peter Hatherly
Yes..
Yes..
Wayne **********
Sorry you have to pay fees for incoming swift transactions?
That’s nuts
That’s nuts
Ekkehard *******
Wayne Thompson Yes, if the SWIFT transfer is marked as BEN (beneficiary pays all) or SHA (shared pay for sending and receiving party).
Ian **********
Wayne Thompson No, you don't
Andy **********
Ian Morrison Yes you do ! Up to Bt500,
Lewis **********
Western union isn’t bad just the conversion rate is a bit worse $2.99-4.99 up to $20,000
Neil ********
Not the best Bank to be with these days but to your question. Bangkok Bank often has competitive low fees for app-based transfers: 300 THB per transaction (reduced from normal 400 THB) if paying only Bangkok Bank’s sending fee (Charge BEN/SHA). For full coverage (OUR), it’s around 1,050–1,150 THB. This is among the lower flat fees for standard SWIFT via mobile banking.
Use Wise
Use Wise
Peter *********
Neil Fowell I agree with you about using Wise. I worked in an international payments area in a bank for 20 years. Swift worked very well for decades but the likes of WISE and Revolut are strong competitors . I honestly don’t know how they are able to keep their charges ultra low as being a member of SWIFT and using the SWIFT network was very expensive to the bank - not just transaction costs but fixed gists as well, that is why the fees to customer were high (a bit too expensive though)
Neil ********
Peter Tulloch maybe the same way Visa enhanced their profits hugely by using blockchain for low cost transactions. Visa kept the profit and Revolute passed the savings on
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