Transfer THB to the UK (thai baht, gbp, best)

[Iwanm]

Hi all, 

 

I'm two years into living in Thailand and re-visiting this topic again. Seems Transferwise now allows transfer into Thailand, but still do not allow transfer out of Thailand. 

 

I am sending money from UOB to my Natwest bank in the UK, and I'm pretty sure there must be a better and cheaper way. Has anyone done their research on this? I'm about the open a new bank account (because UOB are awful) but researching transfer fees. 

 

Any help is greatly appreciated. 

 

Thanks

[Chivas]

Depending on how much you're talking about I would personally change it back into Sterling at any of the big exchangers and literally walk it back into the UK assuming you have associated paperwork as to where it came from originally.

 

If its only a small amount just use the account you already have. Make sure though that the existing funds are "exchanged" within Thailand as Nat West will muller you if it lands back there in Thai Baht

[Iwanm]

Thanks @Chivas , Yes, a friend told me the same thing. I will for sure take home cash next time I fly home, however, I am looking to send at least £2000 each month. 

[Chivas]

11 minutes ago, Iwanm said:

Thanks @Chivas , Yes, a friend told me the same thing. I will for sure take home cash next time I fly home, however, I am looking to send at least £2000 each month. 

I would make some enquiries at your own Thai bank.....as long as the Baht being exchanged into Sterling is done prior to disptaching to Nat West you cant really go wrong.  See what others suggest here in the thread later

[britishjohn]

I did speak to Transferwise about sending money back to the UK. They said they'd like to be able to do it but regulations currently prevent it. No idea why, but one could speculate that the traditional banks losing out on their juicy fees might have something to do with it.

 

 

 

[RubbaJohnny]

Does Dee Money offer such services to those who can vist their offices in Bangkok to do ID checks?

I think I read about it here or maybe in news

 

They have an office near nana 

 

Edited September 11, 2019 by RubbaJohnny

[topt]

2 hours ago, RubbaJohnny said:

Does Dee Money offer such services to those who can vist their offices in Bangkok to do ID checks?

I think I read about it here or maybe in news

 

They have an office near nana 

 

They used to offer the UK but along with the US and NZ cannot currently oblige -

 

List of countries they can service on here - 

https://www.deemoney.com/

[RubbaJohnny]

While you will face 2 fees I see they allow trasnsfers to my Citibank Account in Australia cheaper than Citibank here !

 

Of course you can run a free account in Oz with Transferwise and then to a much wider range of currencies via their card

 

I have used the card in Europe both for transactions and ATMs without problem, minimal fees as you are using the local currency and the tw rates are almost mid mare rates, I'd estiate I save around 700-1100 baht per transaction

 

Link here

 

Whethe rthe fuss , changes / timezones suits you dpends on your needs and tranaction volumes

 

https://transferwise.com/gb/borderless/#card

 

They say 

 

"

• Free to pay with currencies in your account
• Free ATM withdrawals up to £200 per 30 days
• Only pay a small conversion fee when you convert your money — typically between 0.35% and 2%
• Automatically convert your money at the real exchange rate
• Accepted anywhere in the world that accepts Mastercard"

Edited September 23, 2019 by RubbaJohnny