When you are considering studying abroad, even if you manage your accommodations and other necessities during the process one problem you might face is. International Money Transfer. You will always need an International bank for all your financial solutions such as local currency exchange, loans, money deposits, and much more. Krung Thai Bank is one of the International Banks providing finance-related solutions for all international students or other businesses. In today’s blog, we are going to cover each and every aspect related to Krung Thai Bank International Transfer so keep on reading to get a detailed overview of it.
About Krung Thai Bank
Krung Thai Bank (KTB) is one of the leading and popular commercial banks in Thailand, which was founded in 1966 by the Thai government. This bank was established with a vision to provide banking services that meet the needs of the people of Thailand, including businesses and individuals. Over the years, Krung Thai Bank is also well known for its innovative banking services, including its international money transfer service. KTB has over 980 Branches In Thailand with a workforce of around 26,000 employees. This gives us an idea of KTB’s strong presence and dominance in the banking sector of Thailand. Additionally, KTB also has achieved global recognition by receiving multiple awards such as “Best Retail Bank in Thailand” by Asian Banker and “Best Cash Management Bank” by Euromoney in late 2020.
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Benefits of Krung Thai Bank International Transfer
KTB’s International money transfer can be one of the best options you may go for as it’s fast and reliable. Their services always you to transfer money to over 200 countries and territories worldwide, using various options yet at very affordable rates. You can easily choose the best-suited option for yourself depending on your use case. We have listed below some of the best features and benefits, kindly have a look:
Competitive Exchange Rates and Low Fees
You can enjoy favourable exchange rates and save on fees when you transfer money abroad with Krung Thai Bank. You can also compare the rates and fees of different transfer methods and choose the best option for you.
Fast Yet Very Secure Transactions
You can transfer money quickly and safely with Krung Thai Bank International Money Transfer. Depending on the transfer method, your money can reach the recipient within minutes or hours. You can also track the status of your transfer online or via SMS.
Multiple Transfer Options
There are various transfer options to choose from according to your needs and preferences. You can use Krung Thai NEXT, a mobile banking application that allows you to transfer money abroad 24/7 with low fees and good exchange rates. You can also use PromptPay International, a service that lets you send money to Singapore using only the recipient’s mobile number. Alternatively, you can use Western Union, ASEAN Payment Gateway (APG), or Global Remittance services to transfer money to other countries and regions.
Convenient Access and Support
Accessing KTB’s International Money Transfer services is easy and can be done through various channels, such as online banking, mobile banking, ATMs, branches, or agents. You can also get assistance and support from the bank’s staff or customer service centre.
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How to do international transactions using Krung Thai Bank
To initiate a successful international money transfer using Krung Thai Bank, you need to follow these simple steps which are mentioned below:
Step 1– Register for Internet banking: If you do not have an Internet banking account with Krung Thai Bank, you need to register for one.
Step 2– Add the beneficiary’s bank account details to your Internet banking account. You will need to provide the recipient’s name, bank account number, and the SWIFT code of the bank.
Step 3– Once the beneficiary’s account details are added, you can initiate the transfer by selecting the beneficiary and entering the transfer amount.
Step 4– Review the transfer details and confirm the transaction and also enter OTP if asked or only if you receive one.
Step 5– You can track the transfer status using Krung Thai Bank’s Internet banking service or you can simply check it from your notification history.
Krung Thai Bank International Transfer Fees
Here is a detailed chart, so you can have a fair idea about the transfer fees and exchange rates which also depend on different countries and currencies:
To China
| Sending Amount | Transfer Fee |
| THB 40,0000 (INR 95,000) | THB 250 (INR 550) |
| THB 3,00,000 (INR 7.1 Lakh) | THB 750 (INR 1,750) |
| Above THB 3,00,000 (above INR 7.1 Lakh) | THB 1500 (INR 3500) |
To India, Bangladesh, Indonesia, Japan, Nepal, the UK, and the USA
| Sending Amount | Transfer Fee |
| THB 1,250 (INR 3000) | THB 350 (INR 800) |
| THB 2,500 (INR 6000) | THB 400 (INR 950) |
| THB 30,000 (INR 71,000) | THB 600 (INR 1,400) |
| THB 40,000 (INR 95,000) | THB 850 (INR 2,000) |
| THB 50,000 (INR 1.1 Lakh) | THB 1,000 (INR 2,350) |
| THB 70,000 (INR 1.67 Lakh) | THB 1,200 (INR 2,850) |
*Currency Exchange Rate is usually the current exchange value + convenience fee.
The current Exchange Rate is 1 THB= 2.39 INR as of 23rd April 2023.
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FAQs
According to Krung Thai Banks’s official website they claim that the transferred amount gets received by the beneficiary within 24 hours but sometimes there can be some delay in this process.
Yes, you cannot send more than 15,00,000 THB ie. (INR 35 Lakh) per International Transaction.
Firstly, you do not need to worry or start panicking, if the transfer is not successful you will receive an unsuccessful transaction notification and the transfer amount will be returned to your account automatically.
This was all about Krung Thai Bank International Transfer. Reach out to Fly Finance for all finance-related concerns. As we all know how hectic and overwhelming the whole process of studying abroad can be so if you are searching for a top university and planning for studying abroad, you can reach us at 1800 57 2000 and contact our Leverage Edu experts. Additionally, you can also connect with us through our socials like Facebook, Instagram, Twitter, and LinkedIn.
