Results 1 to 17 of 17
Like Tree1Likes
  • 1 Post By LivinLOS

Thread: Deposit US cash in Thai bank account

  1. #1
    Senior Member marc26's Avatar
    Join Date
    Mar 2013
    Location
    Vancouver BC
    Posts
    10,626

    Deposit US cash in Thai bank account

    I need to pay for my stepson's tuition next month

    And since I will be there I wanted to see if I'd be able to just deposit US cash in my MIL account

    My bank fcuked us this year. We used to be able to send CAD and it got converted there but now it goes to USD then to THB so we get banged twice.

    Since its a good chunk of money it is a good savings if I do it this way

  2. #2
    Senior Member Geespot's Avatar
    Join Date
    Mar 2013
    Location
    UK & Khon Kaen
    Posts
    1,610
    No issue depositing USD they will convert it to THB then deposit into you're Thai account. I'm saying that assuming you don't have a USD account with a Thai bank

  3. #3
    Senior Member marc26's Avatar
    Join Date
    Mar 2013
    Location
    Vancouver BC
    Posts
    10,626
    Quote Originally Posted by Geespot View Post
    No issue depositing USD they will convert it to THB then deposit into you're Thai account. I'm saying that assuming you don't have a USD account with a Thai bank
    No its my MIL Thai currency bank account
    I'd want to go into the Samui branch and deposit it into her account with her details


    Thanks

  4. #4
    Senior Member Geespot's Avatar
    Join Date
    Mar 2013
    Location
    UK & Khon Kaen
    Posts
    1,610
    Quote Originally Posted by marc26 View Post
    No its my MIL Thai currency bank account
    I'd want to go into the Samui branch and deposit it into her account with her details


    Thanks
    No hassle all you need is her bank name, account number and her name

  5. #5
    Super Moderator LivinLOS's Avatar
    Join Date
    Mar 2013
    Posts
    14,153
    Entirely possible but why cant you send CAD ???

    Your bank literally refuse ??

  6. #6
    Senior Member
    Join Date
    May 2013
    Location
    Thailand
    Posts
    2,267
    Quote Originally Posted by LivinLOS View Post
    Entirely possible but why cant you send CAD ???

    Your bank literally refuse ??
    According to post #1 he has to pay exchange fee twice.

    marc26, can't you tell the bank that the exchange is to take place at the receiving bank, that is the Thai bank?

  7. #7
    Senior Member marc26's Avatar
    Join Date
    Mar 2013
    Location
    Vancouver BC
    Posts
    10,626
    Quote Originally Posted by Greatdane View Post
    According to post #1 he has to pay exchange fee twice.

    marc26, can't you tell the bank that the exchange is to take place at the receiving bank, that is the Thai bank?
    To LIL and GD

    No.....RBC totally fcuked everyone last year(and I am sure they get a piece)
    All international transfers go out in USD......
    Well actually you got me thinking that may be an online thing and if I did it at the bank I might be able to send CAD
    It costs me an extra 20.00 but with this large payment would be worth it

    I am going to check that out tomorrow now

  8. #8
    Senior Member marc26's Avatar
    Join Date
    Mar 2013
    Location
    Vancouver BC
    Posts
    10,626
    But the thing is I have read Tokyo gives a real shit rate for CAD dollars
    So bad that it is better for me to convert to USD and pay two FX fees and then change USD in Tokyo

    I figured I'd change a nice chunk to USD and usually I can negotiate a very close to spot rate when I am converting 3-4k

    I really should make my USD accounts in States more accessible
    But that is why most of it still in there 555

  9. #9
    Super Moderator LivinLOS's Avatar
    Join Date
    Mar 2013
    Posts
    14,153
    Sounds like a banker being a wanker.. I know my bank tries to do the exchange its end to make more in Fx.. You have to manually set to send it in the sending currency not the destination currency..

    I have also seen a lot of discussion about people using FX services online at well under banking rates.. Also very fast transfers.. Personally I am ok with kasikorns rates and speed from my bank so dont look at it.
    soupdragon likes this.

  10. #10
    Senior Member Geespot's Avatar
    Join Date
    Mar 2013
    Location
    UK & Khon Kaen
    Posts
    1,610
    Sounds like the Canadian bank don't have direct relationship with the Thai banks and thus they use an intermediary bank who do have relationships with Thai banks. This is a fairly common everyday scenario I have to deal with in my job but not normally an issue with Thai banks and 1st world banks

  11. #11
    Super Moderator LivinLOS's Avatar
    Join Date
    Mar 2013
    Posts
    14,153
    Yeah you get the intermediary shit with Cambo also..

    But theres no way in the world banks are unable to move CAD to its destination.. They simply are not trying hard enough for retail etc.

  12. #12
    Senior Member marc26's Avatar
    Join Date
    Mar 2013
    Location
    Vancouver BC
    Posts
    10,626
    Quote Originally Posted by Geespot View Post
    Sounds like the Canadian bank don't have direct relationship with the Thai banks and thus they use an intermediary bank who do have relationships with Thai banks. This is a fairly common everyday scenario I have to deal with in my job but not normally an issue with Thai banks and 1st world banks
    They had it for years
    I paid 13.00 fee for online transfer and sent in Canadian
    Then last year they no longer did
    I don't know how Canada's largest bank cant have intermediaries in Thailand

  13. #13
    Senior Member marc26's Avatar
    Join Date
    Mar 2013
    Location
    Vancouver BC
    Posts
    10,626
    Have you guys ever seen the situation I explained about CAD exchange in Tokyo where the rate they give you is so much lower for a certain currency?

    I've never seen that before

  14. #14
    Senior Member marc26's Avatar
    Join Date
    Mar 2013
    Location
    Vancouver BC
    Posts
    10,626
    Follow up question

    Do you think I can deposit Traveller's cheques in my MIL account? Same as cash, so I assume I can

  15. #15
    Senior Member stupscott's Avatar
    Join Date
    Jul 2013
    Posts
    406
    Quote Originally Posted by marc26 View Post
    Same as cash, so I assume I can
    I can hear it now "same same as cash… but different"

    Paulie "It's Thailand, why the fcuk did I assume!"

    I hope you can because it makes sense, but there's your potential problem.

  16. #16
    Super Moderator LivinLOS's Avatar
    Join Date
    Mar 2013
    Posts
    14,153
    My bank even quotes a TC rate on its site which makes you assume so.. On the deposit side.

    The question would be more can the MIL cash a TC in your name.. I thought they were named and signed ?? For that person only ??

  17. #17
    Senior Member marc26's Avatar
    Join Date
    Mar 2013
    Location
    Vancouver BC
    Posts
    10,626
    Quote Originally Posted by LivinLOS View Post
    My bank even quotes a TC rate on its site which makes you assume so.. On the deposit side.

    The question would be more can the MIL cash a TC in your name.. I thought they were named and signed ?? For that person only ??
    So does Krungsi
    So I guess if I do it.......than I have to cash each one and deposit the baht then
    I get free TC which gets better rates and avoids the atm charge on my side and also the 2.5% rate charge

    Japan is unreal
    I get only 84 yen for cabs and 94 for TC

Posting Permissions

  • You may not post new threads
  • You may not post replies
  • You may not post attachments
  • You may not edit your posts
  •