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International wire transfer of Cash Toronto to Chiang Mai

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Toronto, Canada
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International wire transfer of Cash Toronto to Chiang Mai

I am a dummy on this. I need to make thb 3000 deposit for monthly rental. I found out it would cost me C$30; approx thb 900 and plus any other costs at the Chiang Mai end.(?)

Punishing, when the rental is worth thb 10,000

Is there a smarter alternative that other Canadians have used? We do not have any friends or relatives in Chiang Mai who could do us this favour (as was suggested by the lodging)

Any tips will be appreciated.

Poulton Le Fylde...
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1. Re: International wire transfer of Cash Toronto to Chiang Mai

Don't know about other Canadians but it is not nuch different in cost from wiring UK bank to Thai bank. Subject to anyone else offering a cheaper solution unfortunately it's just a necessary cost for your holiday. Does your owner perhaps have a fellow business colleague who would accept PayPal (if you have an account)?

Canberra, Australia
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2. Re: International wire transfer of Cash Toronto to Chiang Mai

I understand your issue. . I am not familiar with the Canadian Banking system however it is probably not that much different to the Australian one, that is if you go to your bank they have all sorts of charges or you can send the money via Western Union. In Australia there is a company call X-Wing Money Transfer Service, this is the way I send regular payments to Thailand.. For example if the Exchange rate on XE .com is say 30 baht to the AUD they will send the funds for me at a rate of about 29.40 . I can do the transfer via cash over the counter at any of 5 major banks or I can transfer on line to them . It is so easy once it is set up,All I had to do is fill in a application form with my details and the name of the person and their account number in Thailand. If I do this in the morning the funds are in the account by 4 pm Thai Time that day. Perhaps such a system operates in your country.I suggest you make contact with a Thai National living in your city as they will most likely be sending money home to their family.

Good Luck !!

Chiang Mai, Thailand
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3. Re: International wire transfer of Cash Toronto to Chiang Mai

Maybe they will accept a PayPal transfer? or BTC?

Worldwide
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4. Re: International wire transfer of Cash Toronto to Chiang Mai

I'm not sure I understand the situation. Are you about to move to CM, and are planning to make a deposit on a rental flat? That the rent is 10K baht/month, and that you are pre-paying 3000 baht (which seems low)?

Maybe some cultural background is in order. Within Thailand, one can electronically transfer funds from "any" bank account to "any" other within the country via ATM (if one has appropriate details on the recipient account and a local account), and have a record of that transaction including verification of the recipient's name. One can also pay bills for a tiny fee at many post offices and 7-elevens. For that one needs the appropriate amount of cash, and the appropriate particulars for the recipient. So such a process may seem reasonable for the landlord in Thailand - even if North American ATMs may not be able to work this way.

On the other hand, some forms of lodging accept a booking with no cash transfer or credit card guarantee in advance. Then, upon arrival, one pays the appropriate amount in cash, or sometimes by credit card (and rent by Thai baht cheque to the landlord). The cash could have been obtained at the airport or other immediately upon arrival.

I know some hotels (which accept credit cards) which also offer monthly rates at significant discount to the nightly rate. Some of those hotels accept a credit card, but (1) only charge it in case of no-show or (2) you prefer to use that card. When you arrive you can settle the charges with another card or cash. Maybe there is an alternative to the place you are talking with, that can work in such a way? Or perhaps you can make this observation, in order to convince your prospective landlord that you are aware of such option? Perhaps your prospective landlord could then be a bit flexible on the deposit?

The $30 amount for the wire seems high. I recently wired funds to SE Asia. My financial institution's standard charge was $15 if I apply in person, $10 if via the Web - which they waived as I am "a good customer." That transfer was in $ as the exchange is being done at the other end (foreign exchange in SE Asia tends to be on better terms than in North America). Have you checked the cost of an international postal order from your local post office? Or if they won't mind a personal cheque in $? My Thai bank charges me a flat 59 baht to deposit a $ cheque into my account in Bangkok; personal cheques for modest amounts tend to clear in a week or two. The Thai post is generally reliable. A cheque posted through normal airmail should arrive in ~5-9 days.

Melbourne, Australia
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5. Re: International wire transfer of Cash Toronto to Chiang Mai

EarthlingOnline as a side issue do you have any work permit or similar to have opened a Thai bank account? Could you please offer some advice for those who need to/would like to open a Thai bank account but only enter as a tourist? Any particular banks that are more helpful with such matters?

Incidentally I sent an ordinary airmail letter that *should* have taken 5-9 days to arrive. I even put the address down in both English & Thai script. It took 2 months!

Worldwide
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6. Re: International wire transfer of Cash Toronto to Chiang Mai

robol, yes I did. In my case, baht savings, baht chequing, and foreign $ accounts with debit card. I never pushed to try for a local credit card as I almost always use cash in Thailand. I *did* apply for a safety deposit box for documents, but they never got around to getting me one. Unfortunately, my particular bank branch is located in my workplace building complex, which is only open to staff and official visitors. (That workplace also has an in-house branch of a travel agency which is very helpful for some things - but again, not useful for the TA reader. For that I might suggest TVAirbookings in the Emporium.)

My understanding (from reading other threads on TA, and from others) is that one can sometimes get a savings account and ATM card on a tourist chop, if one visits regularly. From what I gather, approvals may vary by bank manager. And, it seems, that an introduction from an existing customer of that bank can also be helpful. So - perhaps, if you know someone in CM or elsewhere who has a local bank account, if that person introduced you, or enquired on your behalf about the possibilities of opening up a local savings account - that might help your case?

Check these threads (and maybe others if you search put "thai bank account" in the forum search string - maybe under the umbrella Thailand forum):

tripadvisor.com/…18840107

tripadvisor.com/…42522155

tripadvisor.com/ShowTopic-g293920-i5037-k288…

Ahhh. Regarding your last paragraph on mail delivery. I'm not sure if Murphy was Irish or Thai {or a bit of all nationalities}? I'm pretty sure that I did not receive everything that was claimed to have been posted to me in Bangkok. But where that went astray, I also could not know...

Poulton Le Fylde...
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7. Re: International wire transfer of Cash Toronto to Chiang Mai

Robol

No problem opening a bank account with Kasikorn Bank. Basic savings account with debit card. Passport and proof of lodgimng was all that was required. Siam Bank and Bangkok Bank also have similar accounts I believe.

Toronto, Canada
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8. Re: International wire transfer of Cash Toronto to Chiang Mai

EarthlingOnline, thanks for imparting so much information that has never been needed by us. First we are annual visitors since 2006. We booked on line at the full service daily rate and stayed 3 weeks. This time we wish to go for 1 to 2 months. One of the two lodges will accept Paypal. The other nearby is more accustomed to long stay residents and their amenities like a gym, fridge and microwave will come in handy. They are the ones that need a cash deposit or international wire transfer of 3000 THB. I replied indicating that I was only familiar with Credit Card and Paypal. I also sent them a link where for C$9.00 I can transfer money from my bank to a Visa Debit or Credit card of the party I am paying anywhere in the world.

I am waiting to hear from the lodge so that I know what they will and will not accept and then I will pursue an alternative to the "Both end" costs of wired transfers from my bank. I will see if I can locate some Thais here who may have more cost effective solutions.

Thanks

Melbourne, Australia
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9. Re: International wire transfer of Cash Toronto to Chiang Mai

Thanks guys, I must say I've been to at least 5 Kasikorn Bank branches & been told the same thing about a work permit. Do you have any specific branch recommendations Arandora?

Poulton Le Fylde...
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10. Re: International wire transfer of Cash Toronto to Chiang Mai

It is the only branch in Khao Lak i.e. Kasikorn Bank, Petchkasem Road, Khao Lak, if that is any use to you. Why on earth would they expect a visitor opening a non-resident Bank Account to have a Work Permit? That is not set out on their requirements on their website.

See kasikornbank.com/en/…Personal.aspx and click on Savings Accounts under Products, Bank accounts which takes you to this page kasikornbank.com/EN/…SavingDeposits.aspx Then under How to Apply or use, click on For individuals under Required documents for account opening which takes you to kasikornbank.com/TH/…Personal_EN.aspx and indicates

1. A copy of national ID card or other ID cards bearing your photo and issued by government authorities

2. A copy of House Registration

In our case I produced my passport and I just asked our bungalow resort owner to produce a letter confirming that we were staying in his resort. I received a pass book which I periodically take into the branch for updating and a Debit Card for free withdrawals at K Bank ATMs in the area, 20 baht per withdrawal at other bank ATMs and outside the area.

I have since registered for K-Cyber Service for limited on-line banking which I did at the ATM outside the bank.