Hi Everyone, hoping some of you may be able to help in way of advice for the following:
I will shortly be transferring funds from UK to my BangkokBank account.
I understand that for a condo purchase here the funds have to be shown to have been sent from abroad.
My bank in the UK, NatWest, whilst not charging fees for such transfers, do show a shockingly bad exchange rate (well below 40 Baht / £). The other issue is that the max daily transfer amount is 10k, which means I would be making the transfer at least 10 times over 10 days, taking serious hit on each.
The far more cost-effective option would be to use Wise (already have an account here). They state a flat fee, with a far more decent exchange. Just wondering if any of you have transferred this way? Also, with Wise, is there a daily max to how much can be sent? The final part is that, does a transfer this way show up in my Thai bank as a Foreign Transfer, which I believe it must to satisfy requirements at the Land Office here?
Any help, advice if you've had a similar dilemma would be much appreciated - many thanks in advance.