Transferring monies TO Thai bank from HSBC UK

[billbenbob]

I left Thailand 1 year ago after 15 years of living there I used to get my uk pension transferred to my Thai account I used to transfer about £1500 per month and this used to cost £4 fees to the HSBC bank and roughly 200 bhat deducted by the Thai bank .I remember there was a drop down box in there move money section where you had three options to pay the fees I am sure I used to press I want to pay the HSBC FEES. As I said I have now been home a year and my wife wants to send £150 back to Thailand to her account for her daughters schooling and some living expenses so I went into the HSBC move money site and transferred £150 to my horror only £115 pounds was received in the Bangkok bank £35 pounds had been removed and paid in extra fees according to the HSBC when I phoned them and must have been taken by an intermediary bank I made such a fuss with them they refunded this amount back to my account but when I asked what is the cheapest way to transfer the £150 out of the three options on there move money website they seem unable to tell me.My question to anybody out there who uses HSBC to transfer there monies to Thailand how do I do this without loosing such extortionate fees ?

 

 

 

 

 

 

 

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[billbenbob]

Ok if I will say it another way what is the cheapest way to transfer money from the uk to Thailand all these companies that transfer money give you a bhat rate and maybe £2 £3 £4 fee they do not say anything about fees once the money has left there hands I mean intermediate banks like I lost in the HSBC transaction £35 All you expats out there must be able to give an answer please





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[daveAustin]

Yes, pay UK fees only as they'll charge the other end anyway. Perhaps you hit the pay all fees option. Also bear in mind the default setting is GBP to THB conversion at the UK end... where you would get stiffed.

 

Revolut (UK banking app-based) charges something like 0.5% to exchange. 

[dimitriv]

33 minutes ago, billbenbob said:

Ok if I will say it another way what is the cheapest way to transfer money from the uk to Thailand all these companies that transfer money give you a bhat rate and maybe £2 £3 £4 fee they do not say anything about fees once the money has left there hands I mean intermediate banks like I lost in the HSBC transaction £35 All you expats out there must be able to give an answer please
 

 

To Transfer money from the UK to a Thai bank account you can use Transferwise.com

 

 

 

[samsensam]

 

i use OFX and find them reliable, professional and the cost/rates reasonable

[billbenbob]

 
To Transfer money from the UK to a Thai bank account you can use Transferwise.com
 
 
 

Do you pay any other fees that are not mentioned on there website e.g. You get there bhat rate there small fee only and the money is sent no more big fees when they have sent the money to Thailand


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[Jip99]

9 minutes ago, billbenbob said:

Do you pay any other fees that are not mentioned on there website e.g. You get there bhat rate there small fee only and the money is sent no more big fees when they have sent the money to Thailand


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No fees at all at the Thai end. 

 

You receive exactly the Baht amount quoted by TW.

[jacko45k]

Have things settled down now with Transferwise?

Namely are people using them OK to send money from UK to Thai banks with the same attractive rates and low charges? And able to route them (in my case) via Bangkok Bank to ensure we get the much coveted 'TT' label? Tempted to take advantage of a slight Sterling improvement and possible stability during  Parliament being prorogued.

Edited September 12, 2019 by jacko45k

[lungbing]

billbenbob

If you are not bothered about the money possibly not being listed as a foreign transfer, and for 150 quid I wouldn't think you are, then I can personally recommend Transferwise.    They tell you exactly how much in baht you will receive and the rate of exchange at the time.