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Money for a year in Thailand

Money for a year in Thailand

Old Aug 2, 2015, 7:59 am
  #16  
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OK,

since no one mentioned this essential site, lot of good info on Thai Visa

In regards of bringing ca$h to Thailand to have some once out of the airport. Sadly my Credit Union has a record of blocking my ATM even when I tell them where I'll be. They did this to me in both Thailand and Hong Kong, and since I normally travel on weekends, it takes over 24 hours before I can talk to anyone back in Texas (no 24 / 7 support).

So I always carry at least $100, and even though the exchange rate is about a cent or two worse at the airport I exchange about that much (well used to, these days I have almost that much Baht with me as I visit Thailand every year).

And even this exchange is pretty much guaranteed to be better than anything in US / Canada (no exchange fees, even if only changing $20, which I've done).
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Old Aug 2, 2015, 6:54 pm
  #17  
 
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The biggest issue I have with that other forum is that amount of bitter people that express nothing but animosity towards the locals and the beautiful culture here... Not saying you can't find nuggets of good info, but don't let the jaded attitude wear off on you.

I find better travel advice right here.
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Old Aug 2, 2015, 6:59 pm
  #18  
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The Jobs, Banking, Business, Investments sub-forum has a wealth of advice.

Ex-pats are always going to give a different perspective on "locals" and "culture", than tourists.
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Old Aug 3, 2015, 2:46 am
  #19  
 
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I enjoy Thaivisa.com and it has been helpful over the past years of living here. Another site is this blog which is written by a young American couple living in Chiang Mai. http://tielandtothailand.com/expat-life/budgets/
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Old Aug 3, 2015, 4:03 am
  #20  
 
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If it's an ongoing money transfer if its viable I find western union to be quite good.
I send money monthly to my fiancee in Vietnam, costs me $10aud and the exchange rates are quite good.
I was looking at giving her a visa card to use, but crazy expensive and bank transfers were also ridiculously expensive.
So if where she is living has a WU agent maybe look at that too.
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Old Aug 3, 2015, 7:20 am
  #21  
 
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Please also note that Thai ATMs dispense the money BEFORE returning the card! You will then get another screen asking if you want a receipt.... only after answering yes/no will your card be returned.

This has led to many tourists and locals alike leaving their card in the machine.
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Old Aug 3, 2015, 7:54 am
  #22  
 
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Originally Posted by HKtraveller
You can see the best exchange rates on this website
http://superrichthai.com/exchange

Expect to get a rate a little but not much worse than that.
Superrich Ratchadamri has always been a zoo when I've been there.

Siam Exchange is much easier to negotiate (usually takes me about 5 minutes), has similar rates and is just round the corner from National Stadium BTS.
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Old Aug 3, 2015, 9:12 am
  #23  
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Originally Posted by railways
Superrich Ratchadamri has always been a zoo when I've been there.

Siam Exchange is much easier to negotiate (usually takes me about 5 minutes), has similar rates and is just round the corner from National Stadium BTS.
I've been there in madhouse times and when it's been relatively empty. Either way I'm usually out in 15 min.
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Old Aug 3, 2015, 9:34 am
  #24  
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Originally Posted by Firemansam
If it's an ongoing money transfer if its viable I find western union to be quite good.
I send money monthly to my fiancee in Vietnam, costs me $10aud and the exchange rates are quite good.
I was looking at giving her a visa card to use, but crazy expensive and bank transfers were also ridiculously expensive.
So if where she is living has a WU agent maybe look at that too.
If they are withdrawing amounts of 20,000 to 25,000 at a time, an ATM may be cheaper at appx $7 per withdrawal. If you send in larger amounts, a bank transfer is very convenient. But, the fees will be from about $25 and up.

A regular bank transfer to Thailand is cheaper than Western Union. Plus the receiver doesn't have to do anything... it's automatically there for the person here to withdraw at their convenience. And, if the Thai bank account is in the same province that they withdraw from, there are NO FEES for them to access the funds .

I have often sent money from a Canadian bank to Thailand. And, vise versa. With a few simple details, it can be done pretty easy. Bank Swift Code, Address, Name of Receiver and another handful of details.

Western Union is more expensive, but sometimes more convenient for the sender. You can send from any Safeway or WalMart, as well as Money Mart and others. But, I have been declined by Western Union to send money. Maybe they thought I was being scammed. It sucked. They charged more and still wouldn't take my money. I have, however, used them a dozen more times. The funds are instantly accessible in Thailand. Expensive, but convenient.

I prefer and trust the bank transfers more. Large sums of cash in this country attract the wrong kind of attention.
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Old Aug 3, 2015, 6:02 pm
  #25  
 
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Originally Posted by 2lovelife
If they are withdrawing amounts of 20,000 to 25,000 at a time, an ATM may be cheaper at appx $7 per withdrawal. If you send in larger amounts, a bank transfer is very convenient. But, the fees will be from about $25 and up.

A regular bank transfer to Thailand is cheaper than Western Union. Plus the receiver doesn't have to do anything... it's automatically there for the person here to withdraw at their convenience. And, if the Thai bank account is in the same province that they withdraw from, there are NO FEES for them to access the funds .

I have often sent money from a Canadian bank to Thailand. And, vise versa. With a few simple details, it can be done pretty easy. Bank Swift Code, Address, Name of Receiver and another handful of details.

Western Union is more expensive, but sometimes more convenient for the sender. You can send from any Safeway or WalMart, as well as Money Mart and others. But, I have been declined by Western Union to send money. Maybe they thought I was being scammed. It sucked. They charged more and still wouldn't take my money. I have, however, used them a dozen more times. The funds are instantly accessible in Thailand. Expensive, but convenient.

I prefer and trust the bank transfers more. Large sums of cash in this country attract the wrong kind of attention.
That's fair enough, I can send the missus money from my phone And laptop which is good for me, it beat the 3 hour return trip to the city and the same for her to pick it up.
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Old Aug 3, 2015, 8:20 pm
  #26  
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Money changers in town would appear to be of little use to the OP's daughter? She is overnighting at SBIA/BKK, on her way to Khon Kaen.

She should immediately try an ATM withdrawal, at an SCB or TMB ATM at the airport to make sure that works. I'd go for the max., be it some limit in CAD, or an ATM limit (500 CAD, so get 13,000 THB, or the ATM limit of 15,000 - 20,000 THB).

Having some pin money, 250 - 500 CAD, as back-up in case the ATM doesn't work, is a good idea. Given the lack of CAD buyers in Chum Phae or even Khon Kaen, it might a good idea to exchange some of this cash at the airport, even knowing that the rate is less than ideal. Again, if the ATM option is not available.

Either way, this cash gets her to Khon Kaen and Chum Phae where she can attempt to open a local bank account, preferably at a bank which has both a branch nearby, and an ATM. Using Streetview I see large-ish Krungsri, Kasikorn, SCB and even Bangkok Bank branches out on Rt. 201. Krung Thai (KTB) tends to be more dominant in rural areas of the North and NE. But check with the host family as they will probably be needed both for a recommendation, and to help get the account opened.

Once the account is opened you could do a SWIFT transfer, if that method proves to be the most efficient. Otherwise use the ATM, get cash, then deposit it in the local bank for use via their ATM.


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