Sending Money to Thailand

[colmx]

HI All
BF has been using an ATM card of mine for 5+ years to withdraw money that i send to thailand. The card is associated with an account that hangs off my main account

My Bank has upgraded their ATM systema nd the new card that has been issued to his account doesn't seem to work

Have had 2 replacement cards and they don't work either...
The bank are blaming the Thai ATMS, these are the same ATMs that let mewithdraw without any problems

In the meantime buffallos are dying and sisters are having babies so i need to send money until i can get this issue sorted with my bank

I know this issue has been spoken about before - but interested in hearing how others send money to their BFs...

I'm thinking western union - but their 10% commission i ridiculous!

Any other suffestions?
Thanks in Advance!

If I were you I would (if you live in the UK normally) I would open up a Nationwide Flex Account and give your bf the Flexcard to withdraw out the money (as you have given him cards before I assume you trust him). Nationwide are totally free from charges and has been said on here again and again, its a brilliant service. If the rate is 64 in Thailand, you will get 64 and absolutely no charges. Generally the daily limit is around 15,000 bht per day (┬г250.00), and I can do that every day, in local currency wherever I am in SE Asia but you are specifically talking about Thailand I assume.

Otherwise no matter how you do it, you will pay hefty charges. I suppose the credit crunch hasn't helped as credit card companies (although I assume you wouldn't be so stupid to withdraw money out on credit cards) have put their charges up recently for transactions of the like.

Similarly, if you are send a remittance from the UK and it is substantial, say ┬г2,000, you will only be charged a fixed fee as low as ┬г10 and and if you do it "bank account to bank account" you will benefit from the commercial rates provided. However, be very careful doing it this way as I suspect if they do the "exchanging" in the UK, you will probably get the offshore rate which is lower as opposed to the onshore rate which is higher when exchanged in Thailand. Be careful on this one.

yeah both my brother and I had similar problems in November - both bank with different UK banks - both had the same problem - we couldnt withdraw a single Baht from any ATM, yet our cards had been working at Heathrow. My brother had to phone through to the UK (huge expense because of course the call is answered by an automatic queue sort system while your bahts disappear from the mobile balance!). When he did get through to he was told that due to high levels of fraud in Thailand ATM withdrawals were blocked unless the account holder requested the block lifted, and the bank was satisfied it was a genuine request.

I had to do the same with my bank - I am still unsure why Thailand has been labelled this way, because I havent read anything in the press to suggest there is a higher level of card fraud/cloning in Thailand compared to other countries.

[Marsilius]

In my experience, all banks like you to tell them in advance if you are going abroad and are likely to be using your cards. They then make a note of it on their system. If you do that, you should have no trouble with foreign ATMs.

In my experience, all banks like you to tell them in advance if you are going abroad and are likely to be using your cards. They then make a note of it on their system. If you do that, you should have no trouble with foreign ATMs.
Agree totally with that. I inform my UK bank of the exact dates I will be in Thailand just in case I need to draw cash at an ATM and also my credit card company so that they do not put a stop or limit on me using the c/c to pay for shopping/hotel bill etc because their system has detected what they term an 'unusual transaction' in Thailand. Never had any problems with either bank card or credit card as a result.

I don't think it just Thailand either - banks/c/c companies are boosting their security measures because of the huge increase in ATM and credit card fraud abroad. My next door neighbours had similar problems with ATM withdrawals when they went to Portugal on holiday.

I havent read anything in the press to suggest there is a higher level of card fraud/cloning in Thailand compared to other countries

Card cloning is a common occurence in Thailand and has been for several years. Many retail outlets will only accept cards once the card holder inputs the PIN number into the card reader, but this is apparently now just as problematic since the cashiers (who were often the ones "double swiping" the cards for cloning) are almost always able to see the number being put in. Never let your card out of you sight.

... that when withdrawing money from an ATM, the money comes out of the machine before your card - hence, on one occasion a few years ago in BKK I left my card in the machine. If it was the other way, like in the UK, where the card is returned to you before you collect the money, then you would remember. Unless you take the card and leave the money in the machine hehehehe - I've done that an all. No win situation eh.

[colmx]

Hi All
Thanks for your responses so far

Unfortunatley i'm in Ireland , not UK... so can;t use a UK based account...
Also despite hours on the phone to my bank over the last few weeks they are unable to solve the connundrum....

BF can login and check balance with new ATM card -but simply can not withdraw any cash, despite there being sufficient funds

Bank says they don't stop any ATM from withdrawing in any particular country - so its nothing to do with thailand...

I can use a similar "maestro" type ATM card to withdraw from my main account in any machine in thailand- so its not the card type or the Thai bank brand. It Just seems to be an anomoly with the acccount...

So i'm going to have to set up another account for BF to withdraw money from...

In the meantime would appreciate any suggestions for the cheapest ANF quickest method of sending money to Thailand...

Surely there must be better methods than Western union and their 10% commission?

... if so, do it via that method via your bank account in Ireland, it will cost you a one-off fee, ensure that it is "exchanged" when it arrives in Thailand.

Colmx, I have tried just about every way there is to transfer money to the BF.

My bank ATM works best and is the cheapest. Another service that is almost as good is IKOBO.

https://www.ikobo.com/

Western Union screws you everytime on fees and exchange rate. However, WU is a reliable backup.

[colmx]

Hi JoeM
Thanks for the advice on Ikobo...

Remember ES posting about this years ago - but couldn't remember its name..

$5 loading fee and 99c per month account maintenance seems to be great compared to WUs 10%++ commission

Some questions please...
Do you load the ikobo card from your Bank Acc or Credit card?
How long from when you send the money until BF can withdraw it?
(ie. does it take 3 days for international transfer?)
Can he use it from every ATM machine?

If anyone has anything else to add it would be much appreciated!

My experience has been:

Do you load the ikobo card from your Bank Acc or Credit card? I load from a credit card.

How long from when you send the money until BF can withdraw it? Less than 24 hours. It has never taken longer.

Can he use it from every ATM machine? Yes, but he typically goes to his bank's ATM. It works in Pattaya and the home village.

[colmx]

Hi Joe
Unfortunately it looks like Ikobo don't support transfers from Ireland...
They even support Reunion Island -but not ireland
So its a non-runner :-(

Backto the drawing Board!

[Dodger]

Colmx...

You're right, Western Union and charges for bank money transfers are ridiculous.

If you're bf is trustworthy when it comes to money please let me know if he has a brother...just kidding.

You may want to consider opening a savings account in his name and depositing a certain amount in the account when you're still in-country for him to draw from as he needs it. Then, if one of those emergencies come up, e.g., the family water buffalo choked to death on a rice stalk or something, he has the choice of depleting his funds to buy another bison - or finding an alternative method in order to protect his finances. In either case, the responsibility is on him to manage the money - and not on you. If he blows the wad you put in the account prematurely - he's out of money until you return, it's as simple as that.

mai pen rai

Doger, you idea is very sound, and practical.

Unfortunately, I have yet to meet the Thai boy who can resist spending all the funds faster than a speeding bullet.

Many young lads, Thai and Western, seem to be masters at living in the moment and ignoring the future. Budgeting is an alien concept.

[Diec]

Maybe I'm just jaded but why doesn't your BF get a job? If he didn't know you or your bank account what would happen to him? Would he die on the streets of starvation? I guess you want to be nice and help him out. Just give him a credit card and that should do the trick!!

pre paid visa/MC he can use at ATM`s whenever you charge it up.

In the US, one can open a second(or a third..) HSBC online savings account and receive their plain ATM (not a debit) card, and leave it with BS. Works without a glitch every time, anywhere in Thailand. They charge USD1.50 per transaction, daily limit 1000USD.

[colmx]

HI All
Thanks to everyone for their advice
Luckily it looks llike this mini crisis is over!

Apparently the new ATM card will work in one of the banks ATM machines, but NOT if BF checks balance or attempts to get anything other than the Fast cash amounts displayed after first logging in

Its a pain in teh ass that he can't take out the exact amout that he requires. but at least he can withdraw money without any exhorbiant fees!

[Dodger]

fly4red...

Quote:


In the US, one can open a second(or a third..) HSBC online savings account and receive their plain ATM (not a debit) card, and leave it with BS. Works without a glitch every time, anywhere in Thailand. They charge USD1.50 per transaction, daily limit 1000USD.

I want to thank you, because shortly after reading your comments I contacted my bank and was informed that I could arrange this with no problem. I will simply open a third (separate) savings account - receive a standard ATM card which will be coded to only be able to deduct funds from that specific account - and just give the card to my bf. According to my bank he will be able to use the card at most, if not all ATMs in LOS...just as you stated.

He will also have the ability to monitor the balance of funds in this account remotely with the password I give him, understanding that the account will be in my name only.

Thanks again for your input.

Colmx - not knowing anything about the banking system in your country - you may want to look into this, if you haven't already.

If your bf has a bank account, have him send you the wiring instructions and then just wire the funds into the account. I know that in the U.S. it costs me $30 per transfer but that is still far and away cheaper than WU. Good luck.

[Hmmm]

My bf lost his wallet recently, with his ID card, credit card, 'his' (my) ATM card etc. I'm still waiting for the new ATM card from my home bank to send him, since I'm not in Thailand currently.

But I have international transfers activated on my home account, and so can send direct to his account online. Costs about US$20. I enter the amount in my currency, which I suspect works out cheaper since the Thai bank then does the conversion, not my local bank. It appears in his account usually within 24 hours.

It's occurred to me that a more efficient process would be to open my own Thai account and do online transfers to his Thai account. I know Thai banks are inconsistent in their requirements for work permits, Thai residence papers (neither of which I have), etc when opening accounts for farang. And Thai online account facilities may not be up to scratch. But has anyone done this with a particular Thai bank ?

Finally, if anyone finds an ATM card in Bangkok with my name on it, "HRH Prince William of Wales", please send it to my Grannie Windsor, c/o Buckingham Palace. There is a small reward.

[thaiworthy-old]

Finally, if anyone finds an ATM card in Bangkok with my name on it, "HRH Prince William of Wales", please send it to my Grannie Windsor, c/o Buckingham Palace. There is a small reward.

I found your ATM card. Thai boys are always mistaking my butt crack for an ATM machine. As I recall, the owner actually was quite a prince of a guy, so I'm not surprised. As far as its hiding place, I can tell you I'm always finding interesting things up there. (When last we met I do hope you noticed what I had lodged up *your* old kazoo.)

However, Grannie Windsor had graciously accepted and invited me "to tea." She told lurid tales of about a two-bit hussy named "Doris" from many years past. We had a good chat, but she ended up hustling me out of my reward.

What a cheap bitch.

[danny99]

HI All
BF has been using an ATM card of mine for 5+ years to withdraw money that i send to thailand. The card is associated with an account that hangs off my main account

My Bank has upgraded their ATM systema nd the new card that has been issued to his account doesn't seem to work

Have had 2 replacement cards and they don't work either...
The bank are blaming the Thai ATMS, these are the same ATMs that let mewithdraw without any problems

In the meantime buffallos are dying and sisters are having babies so i need to send money until i can get this issue sorted with my bank

I know this issue has been spoken about before - but interested in hearing how others send money to their BFs...

I'm thinking western union - but their 10% commission i ridiculous!

Any other suffestions?
Thanks in Advance!


Easy!
Check with your home bank which Thailand bank is their correspondent bank [that saves many days in the transfer process, it means that they have accounts with each other...banks do not actually transfer money they just bank it into an account].
Get your boy to open an account with any Thailand branch of that bank and get his own ATM card.
You can either transfer directly via the internet to his account [if your bank is progressivley modern] whenever you wish or do what I do and also have a Thai bank account, also with internet banking [was Thai Farmers now Kasikorn] to which you can transfer larger amounts also for your use when you arrive each time, and then make smaller internet transfers to his account as needed. With same bank, even different branches, instant debit to yours and credit to his! No charges!

Having said that, for small emergency [$100-200] transfers, Western Union is immediate and actually works out cheaper than a bank transfer.

[Hmmm]

...do what I do and also have a Thai bank account, also with internet banking [was Thai Farmers now Kasikorn] to which you can transfer larger amounts also for your use when you arrive each time, and then make smaller internet transfers to his account as needed. With same bank, even different branches, instant debit to yours and credit to his! No charges.

So were you able to open the Kasikorn account with only a passport for ID ... no work permit or local address papers ?

well if the other option will be not enough I can also recommend moneybookers - usually with the com :) it take a few days to setup the account but it works perfect to a minimal fee for each transactions. I personally use it to send money worldwide since a couple of years without any problems.
Cheers

[HawaiiBoy]

Opening a Thai bank account when you are not a resident is not that easy. It was possible for me to open a joint savings account with a Thai resident who already had an account at Thai Commercial Bank (the one with the purple ATMs). My bf has an account at the same bank and I am able, on line, to transfer funds to his account at no charge. Each time I am in Thailand I make sure that my Baht balance is sufficiently high enough to provide for the 'emergencies' until the next visit. Actually, he is pretty good about what he requests money for and I am glad to be there if there is a genuine medical emergency or an unusual expense that will help the farm.

[Hmmm]

well if the other option will be not enough I can also recommend moneybookers - usually with the com :) it take a few days to setup the account but it works perfect to a minimal fee for each transactions. I personally use it to send money worldwide since a couple of years without any problems.
Cheers

Hmmm ... if moneybookers works as simply and cheaply as it looks, it would have to be the simplest and most widely available method I've seen.

Postscript ... the only possible issue is that the web site is not available in Thai and the receiver has to be able to forward money they have received to their bank account using the site. But if you showed your Thai friend how to do it it shouldn't be a big issue.

Or I guess you could even do both ends of the transaction yourself online, for your account and his. Or even not bother to set up two accounts at all - just set up one account only .... that you upload to from your credit card and download from to his bank account. Your Thai friend need not be involved at all.

It certainly avoids the problems associated with sending ATM cards to your bf and is much cheaper than international bank transfers.

[Brad the Impala]

...do what I do and also have a Thai bank account, also with internet banking [was Thai Farmers now Kasikorn] to which you can transfer larger amounts also for your use when you arrive each time, and then make smaller internet transfers to his account as needed. With same bank, even different branches, instant debit to yours and credit to his! No charges.

So were you able to open the Kasikorn account with only a passport for ID ... no work permit or local address papers ?

Able to open an account, with passbook, ATM card and online banking, showing only my Passport, with tourist visa, and giving an addresss without supporting documents.

sure it will be the best to do in that way that you refill the account by a creditcard and transfer it to another which has been setted before so you have the full transfer process always in sight