Transfering Money from UK bank account to Thai Bank account

[Speedo1968]

Could someone please explain in simple terms how I can transfer money from my UK Nationwide current account to KBank in Thailand ?

[norfolkandchance]

Ask Nationwide, would be a start.

[SCOTT FITZGERSLD]

what's the problem?

if you have online banking, just login,

fill your thai bank details and hit the ENTER .

if not, call your bank for instructions. they will fax to you a form to fill, and once they

will confirm your signature ext., they will send the money.

remember to get the SWIFT code for your bank , also available on google.

[Worldplus]

I use transfer wise...comes in 2 mins...amazing..excellent exchange rates.. Your bank will rip you off if you transfer thru them.. Been using transferwise for months..amazing system.

 

https://transferwise.com/

[saengd]

Assuming you have online banking:

 

Your want to send money to Kasikorn Bank in Thailand, their SWIFT code is KASITHBK, you will also need your account number at Kasikorn and the address of the branch where you opened the account in Thailand. The combination of the SWIFT code and account number is sufficient to let Kasikorn find your account and deposit the funds that you transfer. (SWIFT is the international funds transfer system that connects all banks)

 

Somewhere on the Nationwide online banking screen there is an option to transfer money, you need to select overseas or international transfers. The screen will ask you the name of the person you want to send money to and this will be your name, the name on your account at Kasikorn Bank. 

 

You will also be asked for the SWIFT code which is shown above, Kasikorn Bank does not use an IBAN or bank routing number.

 

You will be asked which currency you want to send and how much, ALWAYS send Pounds, DO NOT send Thai Baht, the receiving bank will convert those Pounds into Thai Baht at a good rate of exchange.

 

You will probably be asked which account should pay the cost of the funds transfer, the sending or the receiving bank. Kasikorn will charge you up to 500 baht for receiving the money, pay that charge from the receiving bank, let Nationwide pay all other sending charges.

 

I think that's everything.

 

 

 

Edited March 2, 2020 by saengd

[Moonlover]

17 minutes ago, saengd said:

Assuming you have online banking:

 

Your want to send money to Kasikorn Bank in Thailand, their SWIFT code is KASITHBK, you will also need your account number at Kasikorn and the address of the branch where you opened the account in Thailand. The combination of the SWIFT code and account number is sufficient to let Kasikorn find your account and deposit the funds that you transfer. (SWIFT is the international funds transfer system that connects all banks)

 

Somewhere on the Nationwide online banking screen there is an option to transfer money, you need to select overseas or international transfers. The screen will ask you the name of the person you want to send money to and this will be your name, the name on your account at Kasikorn Bank. 

 

You will also be asked for the SWIFT code which is shown above, Kasikorn Bank does not use an IBAN or bank routing number.

 

You will be asked which currency you want to send and how much, ALWAYS send Pounds, DO NOT send Thai Baht, the receiving bank will convert those Pounds into Thai Baht at a good rate of exchange.

 

You will probably be asked which account should pay the cost of the funds transfer, the sending or the receiving bank. Kasikorn will charge you up to 500 baht for receiving the money, pay that charge from the receiving bank, let Nationwide pay all other sending charges.

 

I think that's everything.

 

 

 

Spot on. But at what cost? The last time I looked NBS charge 20 GBP per transfer, plus of course the receiving charge as you mentioned.

 

Mentioned above was TransferWise. More economical, better exchange rates and very efficient. I've used them for over a year now and would recommend that method,

 

But I disagree with @Worldplus above. 2 mins is a gross exaggeration! However, same day is normal. Go visit: https://transferwise.com and get your money moving @Speedo1968

 

 

[Worldplus]

Well...I did a transfer 3 days ago...came in 2 mins... Do I care if you do not believe me?  NO....lol..

 

He was asking how to transfer money..  TW is 10 times better than ya bank...I use Kasikorn..  The full amount comes..  In UK I have HSBC..  Fckn rip off doing it thru them..  Upto you mate..

[saengd]

It depends on the amount involved. I bank with HSBC UK and they charge me 4 Pounds to transfer Pounds anywhere in the world, that combined with an exchange rate in Thailand that is the TT rate makes it hard to beat ON LARGER AMOUNTS, even with the 500 baht receiving fee. (Note: preferred customers can actually negotiate with Thai banks on the exchange rate for larger amounts over say 500k or 1 million).

 

On smaller amounts then Transferwise is better, especially where banks other than HSBC are used to send funds, those that charge 20 Pounds or so. 

[saengd]

2 minutes ago, Worldplus said:

Well...I did a transfer 3 days ago...came in 2 mins... Do I care if you do not believe me?  NO....lol..

 

He was asking how to transfer money..  TW is 10 times better than ya bank...I use Kasikorn..  The full amount comes..  In UK I have HSBC..  Fckn rip off doing it thru them..  Upto you mate..

 

Not really, the OP asked, "how I can transfer money from my UK Nationwide current account to KBank in Thailand ?"

 

Edited March 2, 2020 by saengd

[Moonlover]

7 minutes ago, Worldplus said:

Well...I did a transfer 3 days ago...came in 2 mins... Do I care if you do not believe me?  NO....lol..

 

He was asking how to transfer money..  TW is 10 times better than ya bank...I use Kasikorn..  The full amount comes..  In UK I have HSBC..  Fckn rip off doing it thru them..  Upto you mate..

You obviously don't care or you wouldn't tell such a blatant lie. Sorry buddy, I know what your game is. It's all in the website address you provided. 50 quid is it that you get?

[saengd]

14 minutes ago, Worldplus said:

Well...I did a transfer 3 days ago...came in 2 mins... Do I care if you do not believe me?  NO....lol..

 

He was asking how to transfer money..  TW is 10 times better than ya bank...I use Kasikorn..  The full amount comes..  In UK I have HSBC..  Fckn rip off doing it thru them..  Upto you mate..

Handing out sad emoticons doesn't strengthen your case, in fact it weakens your argument because you lose credibility, it says you are not prepared to listen to alternative cost effective ways to transfer. It also highlights the fact you didn't read the OP's post properly! And 2 minutes, really, all you had to say was a couple of hours and that would have impressed people, using two minutes for an international transfer further erodes your credibility because it's simply not believable, despite your protestations.

[KhaoNiaw]

1 minute ago, saengd said:

Handing out sad emoticons doesn't strengthen your case, in fact it weakens your argument because you lose credibility, it says you are not prepared to listen to alternative cost effective ways to transfer. It also highlights the fact you didn't read the OP's post properly! And 2 minutes, really, all you had to say was a couple of hours and that would have impressed people, using two minutes for an international transfer further erodes your credibility because it's simply not believable, despite your protestations.

I have to say I was completely gobsmacked by a TW transfer I did last week. Less than 2 minutes I reckon. I'd hardly hit the transfer button on my UK account and I got a ping on the mobile from my Thai account to say it was here. 

[Henryford]

45 minutes ago, KhaoNiaw said:

I have to say I was completely gobsmacked by a TW transfer I did last week. Less than 2 minutes I reckon. I'd hardly hit the transfer button on my UK account and I got a ping on the mobile from my Thai account to say it was here. 

Not doubting you but hard to understand how that would happen. I presume TW have to notify their bank in Thailand and then they have to schedule a transfer to your Thai bank. Could all that happen in 2 minutes?

[KhaoNiaw]

1 minute ago, Henryford said:

Not doubting you but hard to understand how that would happen. I presume TW have to notify their bank in Thailand and then they have to schedule a transfer to your Thai bank. Could all that happen in 2 minutes?

I have no idea. It was a Barclays to Kasikorn transfer. Looking at the records it actually took less than a minute. The Barclays transfer was at 04:00 UK time (no seconds given) and it hit my Kasikorn account at 11:00:40. Truly amazing! 
Funnily enough I'd been complaining the month before about another transfer that ended up taking a week after they'd asked for ID uploads etc. on what was a pretty piddling amount. 

[theoldgit]

44 minutes ago, Henryford said:

Not doubting you but hard to understand how that would happen. I presume TW have to notify their bank in Thailand and then they have to schedule a transfer to your Thai bank. Could all that happen in 2 minutes?

Maybe it could with everything being automated.
I made a transaction from my UK account to a bank in Singapore, using TW funded with a debit card, it was only £200, whilst I was still online the TW website confirmed that the transfer had been completed, I then received a pop up message to advise that the transfer had been completed on 30 seconds.

[saengd]

I stand corrected regarding transfer times, I am extremely surprised.

[Peter Denis]

17 minutes ago, saengd said:

I stand corrected regarding transfer times, I am extremely surprised.

The TransferWise process is fully automated, so that when you transfer from your foreign bank-account to a thai bank-account of one of their partner banks (BKK Bank, Kasikorn, TMB) the transfer is almost immediately.

[Speedo1968]

6 hours ago, saengd said:

Assuming you have online banking:

 

Your want to send money to Kasikorn Bank in Thailand, their SWIFT code is KASITHBK, you will also need your account number at Kasikorn and the address of the branch where you opened the account in Thailand. The combination of the SWIFT code and account number is sufficient to let Kasikorn find your account and deposit the funds that you transfer. (SWIFT is the international funds transfer system that connects all banks)

 

Somewhere on the Nationwide online banking screen there is an option to transfer money, you need to select overseas or international transfers. The screen will ask you the name of the person you want to send money to and this will be your name, the name on your account at Kasikorn Bank. 

 

You will also be asked for the SWIFT code which is shown above, Kasikorn Bank does not use an IBAN or bank routing number.

 

You will be asked which currency you want to send and how much, ALWAYS send Pounds, DO NOT send Thai Baht, the receiving bank will convert those Pounds into Thai Baht at a good rate of exchange.

 

You will probably be asked which account should pay the cost of the funds transfer, the sending or the receiving bank. Kasikorn will charge you up to 500 baht for receiving the money, pay that charge from the receiving bank, let Nationwide pay all other sending charges.

 

I think that's everything.

 

 

 

Many thanks saengd for very clear and precise information / instructions,
It is the first time I have done this despite my many years in Thailand.
Whichever country I worked in in the past, apart from Saudi back in the early 80's, companies paid in to my UK account.    When working here my income was divided.

[Speedo1968]

6 hours ago, norfolkandchance said:

Ask Nationwide, would be a start.

Yes I will but I wanted to hear from this end what to do.

 

[Speedo1968]

6 hours ago, SCOTT FITZGERSLD said:

what's the problem?

if you have online banking, just login,

fill your thai bank details and hit the ENTER .

if not, call your bank for instructions. they will fax to you a form to fill, and once they

will confirm your signature ext., they will send the money.

remember to get the SWIFT code for your bank , also available on google.

At the moment 'no problem' but it helps if I start with some information to hand.

[Speedo1968]

5 hours ago, Moonlover said:

Spot on. But at what cost? The last time I looked NBS charge 20 GBP per transfer, plus of course the receiving charge as you mentioned.

 

Mentioned above was TransferWise. More economical, better exchange rates and very efficient. I've used them for over a year now and would recommend that method,

 

But I disagree with @Worldplus above. 2 mins is a gross exaggeration! However, same day is normal. Go visit: https://transferwise.com and get your money moving @Speedo1968

 

 

Thank you for your comments will look at transferwise before making an informed decision

[Speedo1968]

6 hours ago, Worldplus said:

I use transfer wise...comes in 2 mins...amazing..excellent exchange rates.. Your bank will rip you off if you transfer thru them.. Been using transferwise for months..amazing system.

 

https://transferwise.com/

Many thanks for the suggestion - will have a look at their site

[Speedo1968]

5 hours ago, saengd said:

It depends on the amount involved. I bank with HSBC UK and they charge me 4 Pounds to transfer Pounds anywhere in the world, that combined with an exchange rate in Thailand that is the TT rate makes it hard to beat ON LARGER AMOUNTS, even with the 500 baht receiving fee. (Note: preferred customers can actually negotiate with Thai banks on the exchange rate for larger amounts over say 500k or 1 million).

 

On smaller amounts then Transferwise is better, especially where banks other than HSBC are used to send funds, those that charge 20 Pounds or so. 

Thanks again for your comments

 

[mfd101]

TW transfers from Oz are certainly not 2-minute jobs, or even 2-hours. I use them once a month and it invariably takes 1.5 days to arrive here in my BKK Bank account in Prasat, and 2 extra days if the weekend gets in the way.

 

I think (if I understand it correctly - and maybe I don't) it's because the Oz banking system doesn't do an immediate transfer & clearance: everything waits till after midnight to tick over in the computer. So I initiate TW transfer at 0700 ICT [1000 or 1100 eastern Oz] on Day 1, with transfer of monies from my bank to TW immediately after. TW informs me about 1700 ICT [2200-or2300 Oz] that they have received the monies but that transfer to BKK Bank will take place on Day 2. Around 0800 ICT on Day 2 I get a TW message that says the money's on its way to BKK Bank. Money arrives in my account any time from 1400 to 1600 ICT.

 

No complaints. Very reliable. And always shows as FTT in my bank book.

[ozfarang]

I used TransferWise last Friday.

 

Comm Bank (Aust) using debit card to Bangkok Bank, 5 minutes. Third transfer in a month all the same.

 

Good for small transfers and a very good x-rate.

 

 

Edited March 2, 2020 by ozfarang

[mfd101]

2 minutes ago, ozfarang said:

I used TransferWise last Friday.

 

Comm Bank using debit card to Bangkok Bank, 5 minutes. Third transfer in a month all the same.

 

Good for small transfers and a very good x-rate.

 

 

Right, so using a debit card makes the difference. I shall follow up with NAB (not that, as explained, I'm particularly fussed about it).

[Chelseafan]

6 hours ago, Moonlover said:

Spot on. But at what cost? The last time I looked NBS charge 20 GBP per transfer, plus of course the receiving charge as you mentioned.

 

Mentioned above was TransferWise. More economical, better exchange rates and very efficient. I've used them for over a year now and would recommend that method,

 

But I disagree with @Worldplus above. 2 mins is a gross exaggeration! However, same day is normal. Go visit: https://transferwise.com and get your money moving @Speedo1968

 

 

It used to take me anywhere between a few hours and a few days but my last 5 or so transactions have arrived in minutes. Don't know if I have been lucky or if they have enhanced their systems.

 

[Peter Denis]

9 minutes ago, ozfarang said:

I used TransferWise last Friday.

... and a very good x-rate.

A very good exchange-rate is an understatement > it is the ACTUAL exchange-rate that is used, so impossible to get a better rate.  TW only charges a modest fee for their service.

Note: When I transfer funds from my European bank-account to a thai bank-account I am notified in minutes that the money has arrived (when I transfer late afternoon, during European and thai business-hours).

 

[Worldplus]

I use my UK HSBC debit card...  I press send.. before I have logged into my Kasikorn I get a text message confirming my deposit..  cost.. about 2.80.. and I get the full quoted amount from TW..

 

No way would I ever transfer money from my uk bank or go to a ATM to withdraw from my uk hsbc card...  

[norfolkandchance]

1 hour ago, Speedo1968 said:

Yes I will but I wanted to hear from this end what to do.

 

Check out WorldFirst.