Cheapest Way To Transfer Money From Uk

[kerr17]

Hi,

I transfered some money from my UK Barclays account to my thai Bank account.

I did the transfer in thai bath and the exchange was pretty poor (1£=62THB).

Is possible to transfer the money from my account in sterling and get it convert it in Thailand with the local exchange rate the day the money is received?

I need to get some payments transferred from a UK bank account to Thai one, which is the best way to get the higher exchange rate as i need to do it quite regularly?

Would you suggest me to open an account with a different bank here in UK?

Thanks

Edited April 11, 2007 by kerr17

[H2oDunc]

open a Nationwide flex account. No fees for taking you money out abroad and I have always been give a good exchange rate. The easiest way by far, especially if you want to leave the card here and just put in account what you want someone to take out. Hope this helped

[BalthazarBeefheart]

open a Nationwide flex account. No fees for taking you money out abroad and I have always been give a good exchange rate. The easiest way by far, especially if you want to leave the card here and just put in account what you want someone to take out. Hope this helped

Thats novel having a bank account which you just put in the amount you want someone else to take out. As I think has been said many times before the best way to transfer money is by SWIFT transfer and to tell the UK bank you want the transfer in sterling that way you get the TT exchange rate quoted on the banks websites here. But you can only send about 10grand at a time cos of the foreign currency restrictions here.

Cheers BB

Edited April 12, 2007 by BalthazarBeefheart

[binnsy]

Beefheart,Is there a limit on how many time in a year you can send 10K?

[BalthazarBeefheart]

Beefheart,Is there a limit on how many time in a year you can send 10K?

Yes I think the limit is actually US$20,000 and I recall the Bangkok bank telling me that was the daily maximum and i could send the next day if i wanted so would assume there was no limit.

Cheers BB

[kerr17]

open a Nationwide flex account. No fees for taking you money out abroad and I have always been give a good exchange rate. The easiest way by far, especially if you want to leave the card here and just put in account what you want someone to take out. Hope this helped

I heard of it reading some thread in here.

Basically there will be no fees at all?

Not even the 2% for the withdrawn or an exchange fee?

Sounds good, in any case i will open one , it doesn't cost anything, does it?

I luckily manage to cancel my yesterday transaction and as BalthazarBeefheart suggest i did a SWIFT transfer with sterling.

Does anyone knows if there will be an extracharge applied by the thai bank once they will receive the money?

Thank you all for the great advice

[duratanium]

I luckily manage to cancel my yesterday transaction and as BalthazarBeefheart suggest i did a SWIFT transfer with sterling.

Does anyone knows if there will be an extracharge applied by the thai bank once they will receive the money?

Thank you all for the great advice

SWIFT - Barclays charge £20 for that and last I heard (3 weeks ago) Bangkok bank (for example) added £15 onto that for their services so a total of £35 in charges. Is it worth it?

Is why I sent a cheque to BKK bank in London to transfer to BKK bank in Thailand. Charge £15 in total. But slower.

[JAS21]

I luckily manage to cancel my yesterday transaction and as BalthazarBeefheart suggest i did a SWIFT transfer with sterling.

Does anyone knows if there will be an extracharge applied by the thai bank once they will receive the money?

Thank you all for the great advice

SWIFT - Barclays charge £20 for that and last I heard (3 weeks ago) Bangkok bank (for example) added £15 onto that for their services so a total of £35 in charges. Is it worth it?

Is why I sent a cheque to BKK bank in London to transfer to BKK bank in Thailand. Charge £15 in total. But slower.

Bangkok Bank charge up to 500Baht for receiving a SWIFT transfer...depends on how much you send. The Nationwide debit card gives you almost the same rate as TT..there are many threads on this. The daily SWIFT limit is $20K equivalent. I sent meny times more a few weeks ago...and had to prove what I needed the money for before the bank was allowed to release it

[kerr17]

I luckily manage to cancel my yesterday transaction and as BalthazarBeefheart suggest i did a SWIFT transfer with sterling.

Does anyone knows if there will be an extracharge applied by the thai bank once they will receive the money?

Thank you all for the great advice

SWIFT - Barclays charge £20 for that and last I heard (3 weeks ago) Bangkok bank (for example) added £15 onto that for their services so a total of £35 in charges. Is it worth it?

Is why I sent a cheque to BKK bank in London to transfer to BKK bank in Thailand. Charge £15 in total. But slower.

Bangkok Bank charge up to 500Baht for receiving a SWIFT transfer...depends on how much you send. The Nationwide debit card gives you almost the same rate as TT..there are many threads on this. The daily SWIFT limit is $20K equivalent. I sent meny times more a few weeks ago...and had to prove what I needed the money for before the bank was allowed to release it

Thanks a lot, i will probably open a Nationwide account anyway, but could you please tell me how much expenses do i have to pay for it (as I'm thinking to use it just for withdraw some money from Thailand).

Also when i withdraw money from my Nationwide account there will be no charge at all, right?

Thanks

Edited April 20, 2007 by kerr17

[pazza]

I have seen a thread on ThaiVisa recently where a guy with a Nationwide account used his debit card (used for ATMs) at the counter of a Thai bank (I don’t know which bank) to transfer a large amount of money to (I think) his Thai bank account. I am sure there was NO charge for this.

Sorry I don’t have time at the moment to do a search , but it may be worth your while searching the forum yourself.

Hope this helps

Steve

[Khun Bob]

Yes this is right - search on my posts and you will find the threads - one of which gives good details and actual experience of doing this...

I have seen a thread on ThaiVisa recently where a guy with a Nationwide account used his debit card (used for ATMs) at the counter of a Thai bank (I don’t know which bank) to transfer a large amount of money to (I think) his Thai bank account. I am sure there was NO charge for this.

Sorry I don’t have time at the moment to do a search , but it may be worth your while searching the forum yourself.

Hope this helps

Steve

[JAS21]

[Just make sure that you get the blue debit card..credit card is no good..no charges