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by Douglas Anderson
So you met this great Thai guy or girl, and you know he or
she is desperately poor, and you'd like to help by sending money
periodically. How do you do this?
There are two ways: money transfer and debit card. The debit
card method is cheaper but initially a bit more complicated.
 Money Transfer
This method is best when you just want to send money once
or a few times, not regularly.
First have them open a bank account if she doesn't have one
already, and send you the bank and account details. You can then
transfer money via your bank, doing a telegraphic transfer (also
called a "wire transfer" or "inter-bank transfer"
or "SWIFT transfer" depending on what country you are
living in). This costs US$25 to $50, depending on the country
you live in, and the bank you deal with, so it generally is not
worthwhile unless you are sending more than $300. Some banks
charge less than others, so it pays to shop around and ask what
the fee is.
Debit Card
 Open
an account in a bank in your town that has the PLUS or CIRRUS
symbol displayed. This means they are on an international ATM
("automated teller machine", also called "banking
machine") network. PLUS and CIRRUS are both international,
and do the same thing, and charge the same rates to their customers
(the banks). Some banks belong to both networks, some to only
one, and some to neither.
 The
account should be in your name. Get an ATM card (also called
a "debit card" or "bank card") from the bank,
put some money in the account, and use the card in any ATM to
verify the card is OK by checking the balance or actually withdrawing
some funds.
Mail the card to your friend in Thailand by registered mail.
Note that some banks prohibit this in their terms and conditions
for using the account. If that is the case with your bank, and
you are in the US, use the ATMcash method below, which is legal,
low cost, and doesn't violate anybody's rules. If you are not
in the US, then just don't tell the bank, or if they ask, say
it's for your son or daughter and he or she is travelling in
Thailand.
When he or she acknowledges receipt of the card, mail the
PIN (the identifying number you have to enter when using the
ATM card) by registered mail. Don't mail the PIN with the card
in case the letter gets into someone else's hands. If he or she
is online with Messenger, you can also give the PIN that way.
Your friend can then go to any ATM in Thailand that displays
the same symbol (PLUS or CIRRUS), insert the card, enter the
PIN, and withdraw any amount of cash (in Thai baht) up to the
limit of what you put in the account. Your bank will automatically
do a currency conversion from Thai baht to your currency. Since
this is a separate account from your normal account, there is
no danger that he or she (or anyone else if the card is stolen)
can access your money in your normal bank accounts. Also, he
or she can't withdraw any more money than what is in the account.
So make sure there is no overdraft facility on the account when
you open it.
Most banks will charge a fee for each withdrawal. Some banks
charge as much as US$5, but most are less. Shop around and find
a bank that has the lowest fees for international ATM transactions.
(My bank charges nothing for international ATM transactions because
I have a Gold Visa with them.) And tell your Thai friend to withdraw
substantial amounts, not go back to the ATM every day to withdraw
100 baht, because the fees make that uneconomical.
So periodically you can transfer money into that account,
and your friend can access it the same day. If you do this on
a regular basis (say, at the first of every month, or the first
and fifteenth), and tell your friend the arrangement, then she
will know to go to the banking machine on those days and can
withdraw the money.
With some banks, it is possible for the account to go negative
(have an overdraft) even though overdrafts are not allowed, because
he or she can withdraw the entire amount in the account, and
the fee for international withdrawals will then be applied, pushing
the account into a negative status. Some banks let you get away
with this, and some charge a huge penalty (of say US$30). So
check with your bank what their policy is. If you don't like
their policy, you can do one of three things:
- change banks;
- keep an eye on the account (via the bank's Internet banking
service) and transfer enough money in immediately to bring the
account back up to zero; some banks will let you set up a rule
that will be applied automatically to sweep money from your normal
account into this account to keep the account non-negative;
- tell your Thai friend not to withdraw the entire balance,
but to leave xxx Baht in the account at all times. This may or
not be possible, depending on whether the ATM in Thailand tells
them the balance of the account. This is a function of your
bank, not the ATM or PLUS or CIRRUS. Some banks make the balance
available, and some don't.
ATMcash
ATMcash is an American company that provides a reliable method
of helping your Thai friend. They send an ATM card to your friend
via Federal Express; this is a very reliable international parcel
delivery firm that requires signed receipt and identification
before handing over the package. Then you contact your friend
and give them the PIN.
Thereafter, you can load the account in the USA with whatever
amount you want in US dollars and your friend can withdraw the
money in Thai baht at any ATM in Thailand.
About the Author:
Douglas Anderson is the author of Speak Easy Thai and is the webmaster of Learn a Language
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