Who is responsible for the transfer fees when sending 65,000 THB monthly?

@J**

the bottom line is 65,000 or more has to appear on your Thai bank statement. So you need to ensure that when you send, you send enough that 65,000+ will appear AFTER any fees.

Sometimes with "free" SWIFT, the trick is they give you a bad exchange rate. Most of the way banks make money on international transfers is the exchange rate, not the fees, the fees are small comparatively. So when comparing you need to compare how much THB you get at the end for a given amount of money in.

Usually with SWIFT transfers even if "free" on your end, the Thai bank will take 0.25% min 200 max 500 receiving fee, so you would have to add this at least.

Wise will give you about the most competitive rate but will also guarantee an exact amount into your Thai account. If you say 65,000 in Wise, that is what shows up in the account, exactly. No 200-500 fee. They charge fees but these fees are best compared to the bank's exchange rate spread, and they are usually lower.

Some banks can be competitive with SWIFT transfers. It depends on the currency too, for example Thai banks give good rates for USD and some regional currencies like MYR so they can be competitive in those currencies. Usually though Wise is cheaper.

@Jim ******

YOU PAY IT!

@Jim ******

your Thai bank will charge a fee up to 500 baht

@Jim ******

then just bring the 800k and park it in your bank why do you think you shouldn’t pay fees to transfer money are you special ??

@J**

it's very low. Well under 1%. For USD to send 65,000 THB Wise charge 0.68%, or $13.79. That's $165/year, or 5,300 THB. I think you need to see that as a "cost of doing business".

@Jim ******

Yes, that would be correct. And there is no way around that regardless of what method you use

There will be a fee on all methods, every month.

@Jim ******

it appears you’ve answered your own question.

@Jim ******

you can bring all you want as long as it’s 65k or more WISE shows you exactly what you get and what it costs you’ll need 12 consecutive months to use this for a non-o yearly extension

@J**

you need to check the exchange rate being used for the JPY-THB conversion. It could be good or could be bad that's where they are making their money.

@Jim ******

i am retired and I send 65k baht per month directly to my Thai bank account via Wise from Australia. I always put 65k as the transfer then they make the conversion including the fee. It always works out just slightly better the the exchange rate at a booth for cash. The fee is around $20 aud and that is about 420 baht. Comparing that to using a bank transfer i come out well in front, no one beats Wise after fees.

@Jim ******

it’s very simple you send ฿65,000 plus the cost of the transfer fee. What’s so difficult to understand. If the transfer fee is bothering you that much just scraped together your 800,000 and make one transfer and then be done with it.

@Jim ******

you pay it it’s your money your transferring

@Jim ******

was that a joke reply? Want another farang to pay the fee for you? 🤦

@Jim ******

yes you

@Wayne *******

doesn't always show as a foreign transfer. I use wise and always us "Funds for long term stay in Thailand". Bangkok Bank does not show as foreign transfer because the funds are routed through Kasikorn Bank. So I opened an account with then about two months ago and does not show as a foreign transfer with them either.

@Wayne *******

Yes, but this is not fool proof. Read the part about International Transfers a bit down on this page.

35/guide-to-thb-transfers

@Ian *******

it also has a minimal charge when converting your currency to THB.