Transfering Money

Old Apr 1st 2014, 2:36 pm
  #1  
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Default Transfering Money

Hello, I live in Canada with my Thai wife and we are coming back to Thailand in May for a holiday.
She wants to transfer C$10,000 to her Thai bank account one way or another but we don't know the best way to do this, ie. wire, take cash, cheque.
We would like the best exchange rate obviously but she also needs access to the money immediately we arrive.
Any ideas please ? Thanks.

Last edited by neilg14; Apr 1st 2014 at 2:38 pm.
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Old Apr 1st 2014, 3:44 pm
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Default Re: Transfering Money

Don't take a cheque. Cheques have to be cleared in the country of origin and will take ages to "clear".

If you have wired before and are confident of the procedure, and confident with your Thai bank, then go ahead. There will be bank charges of course.

Personally I'd be inclined to take in cash. Not sure of the legal limits going in. You may wish to check. Should be fairly easy to change up cash to Thai Baht and deposit into bank. It's really not unusual for folks to change up large amounts of money in Thailand. You'd be amazed what I have seen when I was living there. You could also check exchange rates at different banks when you get there.
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Old Apr 3rd 2014, 8:13 pm
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Default Re: Transfering Money

+1, agree. To get the most money then take cash. For safety do a bank transfer, be there in about 3-5 days normally. If you do cash then go round a few places in BKK to find the best rate.
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Old Apr 3rd 2014, 10:20 pm
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Default Re: Transfering Money

Thank you both for your replies, we normally wire the money but with the charges and poor exchange rate her bank gives I think cash it is, then look for best rate in BKK.
No problem at Customs, bringing that amount I suppose ??
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Old Apr 5th 2014, 7:42 pm
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Default Re: Transfering Money

$20k according to this.
http://thailawyers.com/currency-limi...into-thailand/
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Old Apr 6th 2014, 3:00 pm
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Default Re: Transfering Money

Thanks again, cash it'll be.
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Old Apr 7th 2014, 7:24 am
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Default Re: Transfering Money

It is certainly a good idea to bring in cash and exchange it at Superrich (http://www.superrich1965.com/) or Siam Exchange opposite Siam Discovery or MBK Center in Bangkok. To me, I prefer a money transfer to my Thai bank account via Internet banking , as it is safe, reliable and quick enough to serve my purpose. When you take everything into consideration, i.e. travel costs to the money shop or bank, costs for risks of carrying cash around, opportunity costs during the day, etc., there is no significant difference between two methods, I suppose.
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Old Apr 10th 2014, 2:18 pm
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Default Re: Transfering Money

#2 and #7 are spot on. With that amount take CAD$ cash, exchange straight away (always use Superrich as consistently best rates) and then deposit Thai baht into bank branch immediately. Take usual precautions regarding carrying large amount of cash. Done this myself to make a car purchase locally. I thought I was changing lots but every time in Superrich there are much larger stacks of notes than mine!!
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