How To Send Money Overseas

How To Send Money Overseas Free Painting Lessons for Beginners

Send money from Australia to Thailand

NOTE – I NOW USE A NEW SYSTEM – You will find ‘Transferwise’ with Google.
I find Transferwise very efficient.

browse the website

For years we have been confused on how to send money overseas to my wife’s family in Thailand.
Now I think we have found the best simple method.
The Australian Westpac bank was our latest and best arrangement yet.

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Here is a few notes for you if you are wishing to send money overseas.
Small branches of the Westpac bank may not have this service. Other banks have this service but take longer to get the money to the receiver plus they try to insist you convert the money before sending which results in much lower exchange rate.
Other banks sometimes have a cheaper fee but the few dollars cost you more in the long run.
So my advice is – use the Westpac bank and send cash in Australian dollars.
Family in Thailand

Here is exactly what we did on 13th of Jan 2014 – the exchange rate on the day was AU$1 = 29.26 Thai Baht (you can check the exchange rates on any day and see just how efficient your banking service is).
About 2pm we gave the teller at Westpac Byron Bay NSW AU$732 – $700 to send to Thailand and $32 for the transfer fee. We got a phone call from the family in Thailand at 2pm the following day (14th) saying they received 20300BAHT. So we got 29Thai Baht per AU$1. – that is an excellent rate.
I believe this system would apply when transferring money to any country.
Things To Do Before transferring Money Overseas.
Open a Westpac bank account. (this may not be 100% necessary but will make things smoother)
Find the absolute correct spelling in English of the receiver’s bank name and branch and bank address (full addresses of the branch) and the receiver’s name and home address. (full addresses)
You also need the ‘SWIFT CODE’ for the overseas bank (the receiver can ask the bank).
The Receiver’s bank account number.
The Receiver’s bank account name.
Write the information clearly for the teller to copy.
…………..
I hope this information about transferring money overseas is useful to someone as we were always disappointed at the exchange rate given by other banks and were pleased with the results of using the Westpac. I believe the Westpac also has an online service for those using online banking and the transaction fee is lower than that of the over the counter service.
In other countries you might not have a Westpac bank but you might find a bank that will send your country’s currency and you might find you get better exchange rates at the other end, it is worth shopping around.
Have a nice day Len Hend.
by Len Hend

Updated: October 3, 2017 — 11:57 pm

5 Comments

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  1. There numerous ways to send money to thailand. Some good some not so good. I find the fastest & cheapest is with Westpac online.All branches have this service.(big or small)
    I receive my Pension through DVA And I presume CenterLink does the same. They will deposit your Pension directly into your Thai Bank Account monthly. There is a charge(?) It’s like doing things in reverse. If you go to Australia your Thai visa
    card will work there.
    Another way is to arrange with your AU bank to remit a set amount to your Thai Bank monthly.
    I have gained a heap of knowledge by scanning the Forms available on the DVA web site. I had no idea this scheme existed, I was looking for something else.
    I wish the exchange rate was
    I wish I could get 29?x1$.
    When I first came here it was ?17 then in 1997 it went up to ?32. Today it’s ?24.27
    Prices are rising here daily
    But I wouldn’t live anywhere else.

  2. I have an account with Westpac & I am not always happy with them, But they seem the best of a bad bunch.
    Sending money to Thailand can be handled in several ways.If you are here for a short time you can use your Westpac credit & debit Cards, You can send any amount with an over the counter international telex transfer
    to any bank as long as you have the Payees name ,Bank name & branch, & a/c no.(Cost $35,) You can arrange for the
    bank to repeat this action on a set date. I myself use Internet banking the cost of this is $20, You are limited to the amount set by you as a daily withdrawel.
    Don’t even give Western Union or Pay Pal a thought.

  3. Several years ago you needed a Retirement, work or marriage visa to open a Thai Bank Account.
    The strange thing is you can not apply for these visas unless you have a Thai Account.
    Not to be daunted, being here on a “Tourist Visa” I walked into Kasikorn
    Bank and within 30 minutes had a Thai Savings Account & ATM Card (Cost ?400)
    Down to Immigration and change Visa to Non immigrant single entry. (? 1900.)
    I then had 90 days to get everything ready to apply for a Retirement Visa.
    It is good that you share your knowledge, But Thai Immigration change the Goal Posts from time to time. There is too much misinformation bandied about at the Bars & around the Pool that it is always best to check with the Authoroties

  4. Hi Peter
    I use the Royal Thai Consulate in Brisbane.- first print out there visa application form off the net – same form for all visas – post (registered post) everything to than and they post it all back. They need copy marriage certificate, your passport, copy wife’s ID card, etc. plus registered, self addressed envelope, plus money order.
    So, find the website, download the form, read instructions, then ring them and make sure you know what to do.
    Post it about 2 or 3 weeks before you go to TL – not before then.

  5. Hi Len, I am single old age pensioner living in thailand 69yo i have recently married thai lady will i receive Australian married pension rate now and how do i apply for marriage visa,great to hear your comments on Thailand thankyou.
    Regards
    peter. I am from Ballina not far from you do you remember the Kearney played we played back in the 1950’s.

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