Money Transfer

[Steve80]

I have a UK Bank Account and a Thai Bank Account (Bangkok Bank). I am looking to transfer a large amount of money (to me!) from my UK Bank Account to my Thai Bank Account (about £15k). I am also looking to get the best exchange rate and pay the minimal amount of fees. Please can someone recommend the best way of doing this.

[CharlieH]

Depends on what UK bank you are using ? 

Transferwise is also a popular option/method.

[Steve80]

I used Halifax. I have been using OrbitRemit, while their fees are low the exchange rate is much lower than the actual current rate.

[Laza 45]

As suggested above.. TransferWise..  low fee.. good rate and very quick..

[Delight]

 If you  are transferring as part of a property purchase that requires an FET-then I  suggest that  you check with your Thai bank.

The transferwise  process is  an  inter  bank process.

The condo act states that the incoming funds must come from abroad.

Of course they are coming from abroad -however it may be that your Thai bank have no way of knowing this

 

[KhunBENQ]

11 hours ago, Steve80 said:

I am also looking to get the best exchange rate and pay the minimal amount of fees.

Transferwise fees are high but with their favorable rate you would still get more on the account.

Currently they claim to pay 600'070 Baht for 15'000 GBP.

Whether their comparisons are unbiased? I can't tell.

You would need to register with TW to use.

Upload ID and proof of residence.

Edited December 14, 2019 by KhunBENQ

[Tounge Thaied]

I haven't investigated yet... anyone using deemoney

 

Industry-First Flat Fee

Introducing the industry-first flat fee, so you don’t have to do the math. Transfer fees are capped at THB 150* so your receiver gets the exact amount you intended to send, and no further deductions.

 https://www.deemoney.com/

Edited December 14, 2019 by Tounge Thaied

[Stocky]

10 hours ago, Tounge Thaied said:

anyone using deemoney

That's money going out of Thailand, OP is talking about transferring money into Thailand.

[baansgr]

Also check Western Union, bank to bank you can get very good rates