What banks should I have in Thailand and the USA to transfer funds?

I will be retiring and moving to Thailand at the end of this year. What banks should I have in Thailand and the USA to transfer funds from the USA to Thailand?

Why use a bank? High cost in transfer fees. Trying getting on WISE more international easy transfers to bank in Thailand.

For transferring money to Thailand banks from US banks I agree that Wise or another money exchange transfer is your best option.  You still pay 'acceptance' fees to the Thai bank, but you save a lot on all the other fees and rate conversion costs.

For what banks to use in Thailand, then I recommend you get 2 or 3 banks in case you have any issue/problem with one of them. Thai banks are not as 'solid' as in USA/West - and they operate in Provinces (States) - they still use bank books as main form of ID - they are very very different.

Using Wise you can send up to 2 million THB ($60K US) per transfer to a Thai bank account.  But only to Bangkok Bank, Kasikorn Bank and Siam Bank.  You can send up to 49.9K THB (1.6K US) to the others.

I use Bangkok and Kasikorn - I found Siam has more fees/charges.

Big Tip:  I assume you will arrive with a 12 mth retirement Visa.  Once you have decided where you will live, go to the biggest branch of the selected bank/s in that Province to open accounts. If you open an account in Chiang Mai Provinceand have a problem when in Phuket, you may have to go back to the branch in Chiang Mai to sort out a serious issues. They are more like a franchise in each Province - they are not nationally structured (last time I checked in 2018). 

The Thai Govt only 'guarantees' only 1 million Baht in each bank per customer. It used to be 15 million, but the Junta has been slowly reducing it for some time. IMO this will blow back on them one day, but that is a separate issue. Dont keep a large amount of money in Thailand banks - wealthy Thais dont.

@chrisscully1

I reccommened Bangkok Bank or Standard Chatrers

I recommend KBANK or UOB

@chrisscully1 Bangkok bank is the only bank that I found to be able to have direct deposit from SSI, I got it setup and received my first deposit this month. I have an account with the government savings bank for my required 400K for my non O visa (marriage) I believe a retirement visa account is 800K  and must be in the bank 60 days before application. and when you renew your visa

@chrisscully1 NOT Bangkok Bank. Kasikorn is the best, in my grand opinion

@chrisscully1 NOT Bangkok Bank. Kasikorn is the best, in my grand opinion
-@JacktheLawyer

Why is Kasiskorn the best?

@scbrock you can transfer up to THB 500,000 in one time . Most of the other banks it is only THB 50,000. To be checked again

@Sainsard   I recently transferred 97,000B to my account with Bangkok

bank from the US. Not sure if the limit is higher it's just the amount I needed

@chrisscully1 I started with Bangkok bank cause was the one that at that time (2013) was opening most easy just with passport and tourist visa, and after almost 10 years I am still with them.

I have one account in Bangkok city and one in Phuket cause I spend time in both places mostly.

And can manage both accounts on a single phone application very easy.

And this app gives you access to transfer money between the two accounts or to any account of any bank on other people's accounts, as well has function to scan the QR Code of shops, juristic person, private person, offices, restaurants, supermarkets, 7/11 etc etc to pay quickly any bill.

Furthermore with this app you can withdraw money from any ATM nationwide without any fee or commission to become all operations very flexible. You can also top up your thai phone number.

And by the way you can withdraw even by ATM card from any province or any other bank if necessary and they just charge you a 20 baht fee.

I have made everything from any branch wherever I was: new bank book or new ATM card or any up date no matter if was not my branch, they have all datas in computer, provided that you have your Passport and Bankbook in hand to show them.

More complicate is when your Passport and bankbook are lost or stolen, then need to make new passport first to make a new book or ATM card. But otherwise you can manage a lot from your smartphone bank application.

I don't know them but I see here there is a CITIBANK branch in Bangkok that could have connection with USA but I can't say if they are nationwide.

Be advised that now the new rules to open an account are more tight. They will ask for a address statement from your Embassy (or from Immigration once you have the one year stay permit for retirement) but to make this you have to open an account on your arrival to apply for Retirement permit with your Non-Immigrant 3 month visa obtained in your country at a Thai Embassy before leaving.

@chrisscully1 I have been happy using Wize to transfer from either BofA or Chase to Bangkok Bank.

For transferring money to Thailand banks from US banks I agree that Wise or another money exchange transfer is your best option. You still pay 'acceptance' fees to the Thai bank, but you save a lot on all the other fees and rate conversion costs.
For what banks to use in Thailand, then I recommend you get 2 or 3 banks in case you have any issue/problem with one of them. Thai banks are not as 'solid' as in USA/West - and they operate in Provinces (States) - they still use bank books as main form of ID - they are very very different.
Using Wise you can send up to 2 million THB ($60K US) per transfer to a Thai bank account. But only to Bangkok Bank, Kasikorn Bank and Siam Bank. You can send up to 49.9K THB (1.6K US) to the others.
I use Bangkok and Kasikorn - I found Siam has more fees/charges.
Big Tip: I assume you will arrive with a 12 mth retirement Visa. Once you have decided where you will live, go to the biggest branch of the selected bank/s in that Province to open accounts. If you open an account in Chiang Mai Provinceand have a problem when in Phuket, you may have to go back to the branch in Chiang Mai to sort out a serious issues. They are more like a franchise in each Province - they are not nationally structured (last time I checked in 2018).
The Thai Govt only 'guarantees' only 1 million Baht in each bank per customer. It used to be 15 million, but the Junta has been slowly reducing it for some time. IMO this will blow back on them one day, but that is a separate issue. Dont keep a large amount of money in Thailand banks - wealthy Thais dont.
-@AussieBob99

You're not paying any fee to a Thai bank when sending money via Wise. The deposit guarantee didn't go from ฿15 million to ฿1million. It went down in steps over several years and it had nothing to do with the "junta" but with Bank of Thailand. For a common Thai, ฿1 million is a large amount of money. Never convert Bath to another currency and don't post incorrect information.

We have talked a lot about transferring money to Thailand.

Personally I use Western Union they charge .99 cents for

transfer fee it takes anywhere from 4 - 6 days to arrive.

From US. That seems like too long


My question is how long does Wise take to transfer from

US and what is a typical fee for say $1000 USD?

We have talked a lot about transferring money to Thailand.
Personally I use Western Union they charge .99 cents for
transfer fee it takes anywhere from 4 - 6 days to arrive.
From US. That seems like too long
My question is how long does Wise take to transfer from
US and what is a typical fee for say $1000 USD?
-@scbrock

Its not just about fees,it's about the exchange rate. As far as I know WU's exchange rates have never been any good. That's how they make money. Wise's transfers to my accounts takes from seconds to 24 hours depending on the type of transfer. My last transfer was from my so called Balance account and it took 6 sec. When I use the Low cost transfer option, (it doesn't exist when sending money from the US) my money always arrives 2pm next day.


https://wise.com/gb/send-money/send-money-to-thailand

-@scbrock
Its not just about fees,it's about the exchange rate. As far as I know WU's exchange rates have never been any good. That's how they make money. Wise's transfers to my accounts takes from seconds to 24 hours depending on the type of transfer. My last transfer was from my so called Balance account and it took 6 sec. When I use the Low cost transfer option, (it doesn't exist when sending money from the US) my money always arrives 2pm next day.

https://wise.com/gb/send-money/send-money-to-thailand
-@Leeds forever

The exchange WU gave me was about 32.5 I know the rate has

been climbing it's about 33.8. I'm just getting this from Google

So not great but not horrible


Can you tell me is Wise good for transfers between US Banks?

That is where Western Union has terrible transfer fees

-@scbrock
Its not just about fees,it's about the exchange rate. As far as I know WU's exchange rates have never been any good. That's how they make money. Wise's transfers to my accounts takes from seconds to 24 hours depending on the type of transfer. My last transfer was from my so called Balance account and it took 6 sec. When I use the Low cost transfer option, (it doesn't exist when sending money from the US) my money always arrives 2pm next day.

https://wise.com/gb/send-money/send-money-to-thailand
-@Leeds forever
The exchange WU gave me was about 32.5 I know the rate has
been climbing it's about 33.8. I'm just getting this from Google
So not great but not horrible

Can you tell me is Wise good for transfers between US Banks?
That is where Western Union has terrible transfer fees
-@scbrock

32.5 Baht for a USD is a very bad rate. Today at Wise the rate is 33.77. Wise is designed for transfers abroad. Why would you use WU for domestic transfers?

@Leeds forever!

That's my question I'm looking for a better

domestic service for money transfers

@Leeds forever!
That's my question I'm looking for a better
domestic service for money transfers
-@scbrock

Doesn't your bank do old fashion swift transfers? In most countries in Europe domestic swift transfers are totally free and they are fast, we're talking instant transfers.

For transferring money to Thailand banks from US banks I agree that Wise or another money exchange transfer is your best option. You still pay 'acceptance' fees to the Thai bank, but you save a lot on all the other fees and rate conversion costs.
For what banks to use in Thailand, then I recommend you get 2 or 3 banks in case you have any issue/problem with one of them. Thai banks are not as 'solid' as in USA/West - and they operate in Provinces (States) - they still use bank books as main form of ID - they are very very different.
Using Wise you can send up to 2 million THB ($60K US) per transfer to a Thai bank account. But only to Bangkok Bank, Kasikorn Bank and Siam Bank. You can send up to 49.9K THB (1.6K US) to the others.
I use Bangkok and Kasikorn - I found Siam has more fees/charges.
Big Tip: I assume you will arrive with a 12 mth retirement Visa. Once you have decided where you will live, go to the biggest branch of the selected bank/s in that Province to open accounts. If you open an account in Chiang Mai Provinceand have a problem when in Phuket, you may have to go back to the branch in Chiang Mai to sort out a serious issues. They are more like a franchise in each Province - they are not nationally structured (last time I checked in 2018).
The Thai Govt only 'guarantees' only 1 million Baht in each bank per customer. It used to be 15 million, but the Junta has been slowly reducing it for some time. IMO this will blow back on them one day, but that is a separate issue. Dont keep a large amount of money in Thailand banks - wealthy Thais dont.
-@AussieBob99
You're not paying any fee to a Thai bank when sending money via Wise. The deposit guarantee didn't go from ฿15 million to ฿1million. It went down in steps over several years and it had nothing to do with the "junta" but with Bank of Thailand. For a common Thai, ฿1 million is a large amount of money. Never convert Bath to another currency and don't post incorrect information.
-@Leeds forever!

You have a serious problem mate.  You are extremely negative/angry when you disagree with anyone (me and others), and you insult everyone far too much. I wish I could block you - but this is not that sort of Forum. May I suggest you start to rethink about yourself - or maybe stick to Asean Now or other such 'negative and conflicted' forums.


The fee is charged by the bank receiving the money - they all charge an 'acceptance fee' for international transfers (research it).

I said and I quote "It went down in steps over several years" - the Junta lowered it from 15 to 1 over several years.

I have no idea what you are talking about when you say "Never convert Bath to another currency"

Nothing I said is "incorrect information" - you are reading/seeing things wrong.

Please stop replying to my posts.

Actually I just found out how to block somone - and it works.


Go to account - contacts - click 'block user' - enter name (just name, not @) - done


Thank goodness.

For transferring money to Thailand banks from US banks I agree that Wise or another money exchange transfer is your best option. You still pay 'acceptance' fees to the Thai bank, but you save a lot on all the other fees and rate conversion costs.
For what banks to use in Thailand, then I recommend you get 2 or 3 banks in case you have any issue/problem with one of them. Thai banks are not as 'solid' as in USA/West - and they operate in Provinces (States) - they still use bank books as main form of ID - they are very very different.
Using Wise you can send up to 2 million THB ($60K US) per transfer to a Thai bank account. But only to Bangkok Bank, Kasikorn Bank and Siam Bank. You can send up to 49.9K THB (1.6K US) to the others.
I use Bangkok and Kasikorn - I found Siam has more fees/charges.
Big Tip: I assume you will arrive with a 12 mth retirement Visa. Once you have decided where you will live, go to the biggest branch of the selected bank/s in that Province to open accounts. If you open an account in Chiang Mai Provinceand have a problem when in Phuket, you may have to go back to the branch in Chiang Mai to sort out a serious issues. They are more like a franchise in each Province - they are not nationally structured (last time I checked in 2018).
The Thai Govt only 'guarantees' only 1 million Baht in each bank per customer. It used to be 15 million, but the Junta has been slowly reducing it for some time. IMO this will blow back on them one day, but that is a separate issue. Dont keep a large amount of money in Thailand banks - wealthy Thais dont.
-@AussieBob99
You're not paying any fee to a Thai bank when sending money via Wise. The deposit guarantee didn't go from ฿15 million to ฿1million. It went down in steps over several years and it had nothing to do with the "junta" but with Bank of Thailand. For a common Thai, ฿1 million is a large amount of money. Never convert Bath to another currency and don't post incorrect information.
-@Leeds forever!
You have a serious problem mate. You are extremely negative/angry when you disagree with anyone (me and others), and you insult everyone far too much. I wish I could block you - but this is not that sort of Forum. May I suggest you start to rethink about yourself - or maybe stick to Asean Now or other such 'negative and conflicted' forums.

The fee is charged by the bank receiving the money - they all charge an 'acceptance fee' for international transfers (research it).
I said and I quote "It went down in steps over several years" - the Junta lowered it from 15 to 1 over several years.
I have no idea what you are talking about when you say "Never convert Bath to another currency"
Nothing I said is "incorrect information" - you are reading/seeing things wrong.
Please stop replying to my posts.
-@AussieBob99

You're not the sharpest knife in the drawer. I repeat,there's no receiving fee when using Wise. You're paying a fee to Wise and they transfer the money locally.The transfer is not foreign/international but domestic. Understand? You're not helping people when your posts are incorrect. When sending money from abroad, bank to bank,like a swift transfer,then you're paying a receiving fee.


The deposit guarantee is not as low as you think. ฿1 million is many times the equivalent to a foreign banks deposit guarantee when it comes to how much the money is worth. That's why you should not convert ฿1 million to another currency. Read slow and maybe you'll understand. FYI, I will comment every single incorrect post.

haha....

Nobody ever heard of Bitcoin....??

You can transfer ANY AMOUNT, WHEREVER you want, purchase-transfer-resale done in less than 3 hours altogether, fees insignificant....

Why you bother with banks or Wise or whatever when there is such an easy quick means to transfer money ??

For transferring money to Thailand banks from US banks I agree that Wise or another money exchange transfer is your best option. You still pay 'acceptance' fees to the Thai bank, but you save a lot on all the other fees and rate conversion costs.
For what banks to use in Thailand, then I recommend you get 2 or 3 banks in case you have any issue/problem with one of them. Thai banks are not as 'solid' as in USA/West - and they operate in Provinces (States) - they still use bank books as main form of ID - they are very very different.
Using Wise you can send up to 2 million THB ($60K US) per transfer to a Thai bank account. But only to Bangkok Bank, Kasikorn Bank and Siam Bank. You can send up to 49.9K THB (1.6K US) to the others.
I use Bangkok and Kasikorn - I found Siam has more fees/charges.
Big Tip: I assume you will arrive with a 12 mth retirement Visa. Once you have decided where you will live, go to the biggest branch of the selected bank/s in that Province to open accounts. If you open an account in Chiang Mai Provinceand have a problem when in Phuket, you may have to go back to the branch in Chiang Mai to sort out a serious issues. They are more like a franchise in each Province - they are not nationally structured (last time I checked in 2018).
The Thai Govt only 'guarantees' only 1 million Baht in each bank per customer. It used to be 15 million, but the Junta has been slowly reducing it for some time. IMO this will blow back on them one day, but that is a separate issue. Dont keep a large amount of money in Thailand banks - wealthy Thais dont.
-@AussieBob99
You're not paying any fee to a Thai bank when sending money via Wise. The deposit guarantee didn't go from ฿15 million to ฿1million. It went down in steps over several years and it had nothing to do with the "junta" but with Bank of Thailand. For a common Thai, ฿1 million is a large amount of money. Never convert Bath to another currency and don't post incorrect information.
-@Leeds forever!
You have a serious problem mate. You are extremely negative/angry when you disagree with anyone (me and others), and you insult everyone far too much. I wish I could block you - but this is not that sort of Forum. May I suggest you start to rethink about yourself - or maybe stick to Asean Now or other such 'negative and conflicted' forums.

The fee is charged by the bank receiving the money - they all charge an 'acceptance fee' for international transfers (research it).
I said and I quote "It went down in steps over several years" - the Junta lowered it from 15 to 1 over several years.
I have no idea what you are talking about when you say "Never convert Bath to another currency"
Nothing I said is "incorrect information" - you are reading/seeing things wrong.
Please stop replying to my posts.
-@AussieBob99
You're not the sharpest knife in the drawer. I repeat,there's no receiving fee when using Wise. You're paying a fee to Wise and they transfer the money locally.The transfer is not foreign/international but domestic. Understand? You're not helping people when your posts are incorrect. When sending money from abroad, bank to bank,like a swift transfer,then you're paying a receiving fee.

The deposit guarantee is not as low as you think. ฿1 million is many times the equivalent to a foreign banks deposit guarantee when it comes to how much the money is worth. That's why you should not convert ฿1 million to another currency. Read slow and maybe you'll understand. FYI, I will comment every single incorrect post.
-@Leeds forever!

Unfortunately - this Forum's 'block user' does not actually block them.

You are an abusive troll - the only one on this Forum.


The OP said "What banks should I have in Thailand and the USA to transfer funds from the USA to Thailand?"

The process is USA Bank - Wise - Thailand Bank.


Under the Australian Banking regulation (FCS), deposits are protected up to a limit of $250,000 AUD per account holder - that is about 6 Million Baht.   In USA the guarantee is also $250,000 USD - that is about $8 Million Baht.  It used to be 15 Million Baht in Thailand, and that gave Expats a lot of security. Now Expats should be very wary of depositing over $1 Million Baht into a Thailand bank.  I have already advised which Thai banks are recommended by Wise.


Do you apologise when you are the one who makes incorrect posts?

@chrisscully1

As far as I know, only Bangkok Bank has a US branch in New York City. It is how my wife and I get funds to family cheaper than via the international wire-transfers. Since their branch is in the US, no international fees apply, only local fees. My wife's account has her name and her brother's on it for Bangkok Bank. Good luck. Post it if you find another.

haha....
Nobody ever heard of Bitcoin....??
You can transfer ANY AMOUNT, WHEREVER you want, purchase-transfer-resale done in less than 3 hours altogether, fees insignificant....
Why you bother with banks or Wise or whatever when there is such an easy quick means to transfer money ??
-@pfaure

Do you live in Thailand? A lot of expats living in Thailand needs their transfers to show up in their Thai bank books as foreign/international. I'm talking about immigration issues. So, Bitcoin won't work for them.

For transferring money to Thailand banks from US banks I agree that Wise or another money exchange transfer is your best option. You still pay 'acceptance' fees to the Thai bank, but you save a lot on all the other fees and rate conversion costs.
For what banks to use in Thailand, then I recommend you get 2 or 3 banks in case you have any issue/problem with one of them. Thai banks are not as 'solid' as in USA/West - and they operate in Provinces (States) - they still use bank books as main form of ID - they are very very different.
Using Wise you can send up to 2 million THB ($60K US) per transfer to a Thai bank account. But only to Bangkok Bank, Kasikorn Bank and Siam Bank. You can send up to 49.9K THB (1.6K US) to the others.
I use Bangkok and Kasikorn - I found Siam has more fees/charges.
Big Tip: I assume you will arrive with a 12 mth retirement Visa. Once you have decided where you will live, go to the biggest branch of the selected bank/s in that Province to open accounts. If you open an account in Chiang Mai Provinceand have a problem when in Phuket, you may have to go back to the branch in Chiang Mai to sort out a serious issues. They are more like a franchise in each Province - they are not nationally structured (last time I checked in 2018).
The Thai Govt only 'guarantees' only 1 million Baht in each bank per customer. It used to be 15 million, but the Junta has been slowly reducing it for some time. IMO this will blow back on them one day, but that is a separate issue. Dont keep a large amount of money in Thailand banks - wealthy Thais dont.
-@AussieBob99
You're not paying any fee to a Thai bank when sending money via Wise. The deposit guarantee didn't go from ฿15 million to ฿1million. It went down in steps over several years and it had nothing to do with the "junta" but with Bank of Thailand. For a common Thai, ฿1 million is a large amount of money. Never convert Bath to another currency and don't post incorrect information.
-@Leeds forever!
You have a serious problem mate. You are extremely negative/angry when you disagree with anyone (me and others), and you insult everyone far too much. I wish I could block you - but this is not that sort of Forum. May I suggest you start to rethink about yourself - or maybe stick to Asean Now or other such 'negative and conflicted' forums.

The fee is charged by the bank receiving the money - they all charge an 'acceptance fee' for international transfers (research it).
I said and I quote "It went down in steps over several years" - the Junta lowered it from 15 to 1 over several years.
I have no idea what you are talking about when you say "Never convert Bath to another currency"
Nothing I said is "incorrect information" - you are reading/seeing things wrong.
Please stop replying to my posts.
-@AussieBob99
You're not the sharpest knife in the drawer. I repeat,there's no receiving fee when using Wise. You're paying a fee to Wise and they transfer the money locally.The transfer is not foreign/international but domestic. Understand? You're not helping people when your posts are incorrect. When sending money from abroad, bank to bank,like a swift transfer,then you're paying a receiving fee.

The deposit guarantee is not as low as you think. ฿1 million is many times the equivalent to a foreign banks deposit guarantee when it comes to how much the money is worth. That's why you should not convert ฿1 million to another currency. Read slow and maybe you'll understand. FYI, I will comment every single incorrect post.

-@Leeds forever!
Unfortunately - this Forum's 'block user' does not actually block them.
You are an abusive troll - the only one on this Forum.

The OP said "What banks should I have in Thailand and the USA to transfer funds from the USA to Thailand?"
The process is USA Bank - Wise - Thailand Bank.

Under the Australian Banking regulation (FCS), deposits are protected up to a limit of $250,000 AUD per account holder - that is about 6 Million Baht.  In USA the guarantee is also $250,000 USD - that is about $8 Million Baht. It used to be 15 Million Baht in Thailand, and that gave Expats a lot of security. Now Expats should be very wary of depositing over $1 Million Baht into a Thailand bank. I have already advised which Thai banks are recommended by Wise.

Do you apologise when you are the one who makes incorrect posts?
-@AussieBob99

@Leedsforever! 


I (we) am still waiting ..................  1f601.svg

@Leeds forever!

yes I live in Thailand

You presume that the guy needs to show this on his bankbook... but nothing has been mentioned about it...

He only asked about transferring money...

My answer was only there to help this guy to make his transfer quickly and without fees... and open his mind on other solutions.

Do not be so negative.. that will help other people in this forum...

For transferring money to Thailand banks from US banks I agree that Wise or another money exchange transfer is your best option. You still pay 'acceptance' fees to the Thai bank, but you save a lot on all the other fees and rate conversion costs.
For what banks to use in Thailand, then I recommend you get 2 or 3 banks in case you have any issue/problem with one of them. Thai banks are not as 'solid' as in USA/West - and they operate in Provinces (States) - they still use bank books as main form of ID - they are very very different.
Using Wise you can send up to 2 million THB ($60K US) per transfer to a Thai bank account. But only to Bangkok Bank, Kasikorn Bank and Siam Bank. You can send up to 49.9K THB (1.6K US) to the others.
I use Bangkok and Kasikorn - I found Siam has more fees/charges.
Big Tip: I assume you will arrive with a 12 mth retirement Visa. Once you have decided where you will live, go to the biggest branch of the selected bank/s in that Province to open accounts. If you open an account in Chiang Mai Provinceand have a problem when in Phuket, you may have to go back to the branch in Chiang Mai to sort out a serious issues. They are more like a franchise in each Province - they are not nationally structured (last time I checked in 2018).
The Thai Govt only 'guarantees' only 1 million Baht in each bank per customer. It used to be 15 million, but the Junta has been slowly reducing it for some time. IMO this will blow back on them one day, but that is a separate issue. Dont keep a large amount of money in Thailand banks - wealthy Thais dont.
-@AussieBob99
You're not paying any fee to a Thai bank when sending money via Wise. The deposit guarantee didn't go from ฿15 million to ฿1million. It went down in steps over several years and it had nothing to do with the "junta" but with Bank of Thailand. For a common Thai, ฿1 million is a large amount of money. Never convert Bath to another currency and don't post incorrect information.
-@Leeds forever!
You have a serious problem mate. You are extremely negative/angry when you disagree with anyone (me and others), and you insult everyone far too much. I wish I could block you - but this is not that sort of Forum. May I suggest you start to rethink about yourself - or maybe stick to Asean Now or other such 'negative and conflicted' forums.

The fee is charged by the bank receiving the money - they all charge an 'acceptance fee' for international transfers (research it).
I said and I quote "It went down in steps over several years" - the Junta lowered it from 15 to 1 over several years.
I have no idea what you are talking about when you say "Never convert Bath to another currency"
Nothing I said is "incorrect information" - you are reading/seeing things wrong.
Please stop replying to my posts.
-@AussieBob99
You're not the sharpest knife in the drawer. I repeat,there's no receiving fee when using Wise. You're paying a fee to Wise and they transfer the money locally.The transfer is not foreign/international but domestic. Understand? You're not helping people when your posts are incorrect. When sending money from abroad, bank to bank,like a swift transfer,then you're paying a receiving fee.

The deposit guarantee is not as low as you think. ฿1 million is many times the equivalent to a foreign banks deposit guarantee when it comes to how much the money is worth. That's why you should not convert ฿1 million to another currency. Read slow and maybe you'll understand. FYI, I will comment every single incorrect post.
-@Leeds forever!
Unfortunately - this Forum's 'block user' does not actually block them.
You are an abusive troll - the only one on this Forum.

The OP said "What banks should I have in Thailand and the USA to transfer funds from the USA to Thailand?"
The process is USA Bank - Wise - Thailand Bank.

Under the Australian Banking regulation (FCS), deposits are protected up to a limit of $250,000 AUD per account holder - that is about 6 Million Baht. In USA the guarantee is also $250,000 USD - that is about $8 Million Baht. It used to be 15 Million Baht in Thailand, and that gave Expats a lot of security. Now Expats should be very wary of depositing over $1 Million Baht into a Thailand bank. I have already advised which Thai banks are recommended by Wise.

Do you apologise when you are the one who makes incorrect posts?
-@AussieBob99@Leedsforever!

I (we) am still waiting .................. 1f601.svg
-@AussieBob99


Still waiting ............. he/she/it never replied.  We all know what that means - a Troll.   Ignore all comments and replies by @leedsforever!

@Phil Altman call me randy iam want to know how this works! *** or ***I have A bangkok acc over there.I dont know how to use it.

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    For transferring money to Thailand banks from US banks I agree that Wise or another money exchange transfer is your best option. You still pay 'acceptance' fees to the Thai bank, but you save a lot on all the other fees and rate conversion costs.For what banks to use in Thailand, then I recommend you get 2 or 3 banks in case you have any issue/problem with one of them. Thai banks are not as 'solid' as in USA/West - and they operate in Provinces (States) - they still use bank books as main form of ID - they are very very different.Using Wise you can send up to 2 million THB ($60K US) per transfer to a Thai bank account. But only to Bangkok Bank, Kasikorn Bank and Siam Bank. You can send up to 49.9K THB (1.6K US) to the others.I use Bangkok and Kasikorn - I found Siam has more fees/charges.Big Tip: I assume you will arrive with a 12 mth retirement Visa. Once you have decided where you will live, go to the biggest branch of the selected bank/s in that Province to open accounts. If you open an account in Chiang Mai Provinceand have a problem when in Phuket, you may have to go back to the branch in Chiang Mai to sort out a serious issues. They are more like a franchise in each Province - they are not nationally structured (last time I checked in 2018). The Thai Govt only 'guarantees' only 1 million Baht in each bank per customer. It used to be 15 million, but the Junta has been slowly reducing it for some time. IMO this will blow back on them one day, but that is a separate issue. Dont keep a large amount of money in Thailand banks - wealthy Thais dont. -@AussieBob99You're not paying any fee to a Thai bank when sending money via Wise. The deposit guarantee didn't go from ฿15 million to ฿1million. It went down in steps over several years and it had nothing to do with the "junta" but with Bank of Thailand. For a common Thai, ฿1 million is a large amount of money. Never convert Bath to another currency and don't post incorrect information. -@Leeds forever!You have a serious problem mate. You are extremely negative/angry when you disagree with anyone (me and others), and you insult everyone far too much. I wish I could block you - but this is not that sort of Forum. May I suggest you start to rethink about yourself - or maybe stick to Asean Now or other such 'negative and conflicted' forums. The fee is charged by the bank receiving the money - they all charge an 'acceptance fee' for international transfers (research it).I said and I quote "It went down in steps over several years" - the Junta lowered it from 15 to 1 over several years.I have no idea what you are talking about when you say "Never convert Bath to another currency"Nothing I said is "incorrect information" - you are reading/seeing things wrong.Please stop replying to my posts. -@AussieBob99You're not the sharpest knife in the drawer. I repeat,there's no receiving fee when using Wise. You're paying a fee to Wise and they transfer the money locally.The transfer is not foreign/international but domestic. Understand? You're not helping people when your posts are incorrect. When sending money from abroad, bank to bank,like a swift transfer,then you're paying a receiving fee.The deposit guarantee is not as low as you think. ฿1 million is many times the equivalent to a foreign banks deposit guarantee when it comes to how much the money is worth. That's why you should not convert ฿1 million to another currency. Read slow and maybe you'll understand. FYI, I will comment every single incorrect post. -@Leeds forever!Unfortunately - this Forum's 'block user' does not actually block them.You are an abusive troll - the only one on this Forum.The OP said "What banks should I have in Thailand and the USA to transfer funds from the USA to Thailand?" The process is USA Bank - Wise - Thailand Bank.Under the Australian Banking regulation (FCS), deposits are protected up to a limit of $250,000 AUD per account holder - that is about 6 Million Baht. In USA the guarantee is also $250,000 USD - that is about $8 Million Baht. It used to be 15 Million Baht in Thailand, and that gave Expats a lot of security. Now Expats should be very wary of depositing over $1 Million Baht into a Thailand bank. I have already advised which Thai banks are recommended by Wise. Do you apologise when you are the one who makes incorrect posts? -@AussieBob99@Leedsforever! I (we) am still waiting .................. 1f601.svg-@AussieBob99Still waiting ............. he/she/it never replied.  We all know what that means - a Troll.   Ignore all comments and replies by @leedsforever!        -@Guest8552

What are you talking about? When did I come up with an incorrect post? Please tell. The deposit guarantee in Thailand is 1 million Baht for every account holder,foreigner and Thai national. What you and other clueless people don't understand is that you shall never convert Baht to another currency. 1 million baht is NOT a small amount of money in Thailand. There's a shitload of thai people with less than 50.000 Baht in their accounts. There are banks in countries in Europe with deposit guarantees lower than the equivalent to 1 million Baht if you understand the word equivalent. No one has to worry about having money in thai banks because when did a major bank in Thailand go belly up last time? The answer is never. And btw, Wise has never recommended any banks in Thailand. They have three partner banks in Thailand,but that doesn't mean other banks are no good. For example, do you think SCB is a better bank than Krungsri Bank just because Wise partners with SCB and not with Krungsri Bank? Think again,pal. Another incorrect part from your post is that you're paying "acceptance fees" to thai banks when using Wise.You pay nothing to the sending or receiving bank, just to Wise. The reason I stopped answering questions from some people here is because I'm fed up with totally clueless people who doesn't understand anything and can't grasp simple explanations. On top of that, they aren't even living in Thailand. They,like you have no clue what so ever how thai banks works and for example how to send money the smartest way without complaining about everything even when someone's telling them exactly how to do it. Sitting in a sofa in the US or Australia and complaining is in my opining mind boggling.Trying to help them/you is like trying to help a 12 year old.

Many banks in thailand,they all have a charge somehow.I have a bangkok bank acc it works for me.It comes down to personal choice i think.do some homework and then decide


    Many banks in thailand,they all have a charge somehow.I have a bangkok bank acc it works for me.It comes down to personal choice i [link under review] some homework and then decide
   

    -@Geoff Davies

What do you mean by "they all have a charge somehow". There are actually not that many banks in Thailand to choose from for a foreigner living in Thailand. Maybe five major commercial banks and in my opinion Bangkok Bank and Kasikorn Bank are the ones to go for.