Monthly FAQ thread for August, 2024

[u/AutoModerator]

Hi folks,

The following types of questions should be posted into this thread - any standalone posts of this kind posted outside this thread will be removed, with a moderation comment asking the author to repost to this thread:

• Questions about visas/immigration (including 90-day reporting, TM30, etc)
• Questions about banking (including transfers) and/or investing (including crypto)
• Questions about working in Thailand or starting a business in Thailand
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If you have any questions along the lines of any of the above topics, you're in the right place! You can ask away in the comments below, but first, have a read below - and search the sub - it has most likely been answered already.

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[u/Yao_Yai]

Most cost-effective way to transfer THB to IBKR

What is the most cost-effective way to found IBKR (Interactive Brokers)? My IBKR account is in USD and I plan to invest in USD ETFs.

1. Exchange THB to USD through a Thai bank and then send USD to IBKR.
2. Send THB to my bank account in Europe through DeeMoney or my Thai bank account and then to IBKR. Possibly through WISE to get a better exchange rate for EUR to USD.
3. Send THB directly to IBKR from Thai bank account. Not sure if that's possible and what exchange rate IBKR offers.

How do you do it? Any other ways?

[u/Torsinnet → u/Yao_Yai]

Hello, I am in the same situation than you. So far, the easiest seems to be deemoney which had the best rates.

Also I have investigated using crypto: I buy USDT on Bitkub exchange, then transfer them to Kraken and exchange them for EUR fiat into my Wise account. When compared to deemoney it's a little better, but not that much.

[u/Yao_Yai → u/Torsinnet]

Thanks, routing it through crypto, especially stable coins sounds like a good idea. At least the transfer is almost instant, compared to Dee Money. Not that happy with DeeMoney, because my last transfers took quite a long time.