Pension Into Thailand

[macb]

I wonder if anyone has there Company pension paid inot THailand;

My Company pension is paid into UK bank Account, I asked if it acould be paid into my Thai Account but Royal Bank of Scotland which is used by my previous Employers do not do transfers to THailand

Not that it is a problem using Uk Account: but I am reviewing subjects like this

[richard10365]

I'm from the USA. My pension goes to Bangkok Bank NY. They swift it to my Bangkok Bank account on Silom road in Bangkok. I imagine there is a Thai bank in the UK with a similiar setup.

[sierra01]

Bangkok Bank plc www.bangkokbank.com

61 St. Mary Axe, London, EC3A 8BY - 020 7929 4422

Isn't Swift every month expensive, better to open a nationwide account? Unless you need to show income for retirement visa i suppose.

[macb]

I already have a Natiowide Flex account thanks

[macb]

Bangkok Bank plc www.bangkokbank.com

61 St. Mary Axe, London, EC3A 8BY - 020 7929 4422

Isn't Swift every month expensive, better to open a nationwide account? Unless you need to show income for retirement visa i suppose.

THats intersting thanks for that info

[GuestHouse]

I think that given the annual fluctuations in the Baht it is better to have your pension saved in an offshore account (earning intrest!!) and then move it over when the exchange rates are favourable.

[JohnC]

I too have a Nationwide flexi account as my pension providers insist on a UK bank account, I then presented my annual pension letter last year to the Honary Consul here in Pattaya (at the advice of immmigration) and he gave me a letter on embassy headed paper confirming my income amount. This was presented with my application for long stay visa (retirement) last year and they accepeted it taking a copy and telling me to keep original for this year when I renew my visa the only other thing immigration said was to have at least 40,000 baht in my Thai bank and a letter from bank confirming this. I believe this just to show I have living expenses. I use the atm here each month and draw out what I need from Nationwide at no charge therefore if there was a problem with the baht my money remains in UK so I would only lose one withdrawal if the rate had crashed (hope that makes sense) using a swift transfer costs £20 for each transfer and means you have a whole months money in the Thai bank which I do not believe is a good idea. Co-incidently my visa is up for renewal next week so we will see what if anything has changed!

[richard10365]

I think that given the annual fluctuations in the Baht it is better to have your pension saved in an offshore account (earning intrest!!) and then move it over when the exchange rates are favourable.

That idea probably works with some. There are probably a lot of people who live month to month off their pension. The exchange rate has been pretty bad for a while. Since I don't work, I'm not sure what I would do had I put my money in an offshore account when the exchange rate went south. However, I believe Bangkok Bank uses the onshore rate when converting to baht.

[richard10365]

Bangkok Bank plc www.bangkokbank.com

61 St. Mary Axe, London, EC3A 8BY - 020 7929 4422

Isn't Swift every month expensive, better to open a nationwide account? Unless you need to show income for retirement visa i suppose.

Bangkok Bank NY charges $5.00 to SWIFT it from NY to Thailand. When it gets to Thailand, Bangkok Bank on Silom Road charges 200 baht to convert it.

[phutoie2]

Isn't Swift every month expensive, better to open a nationwide account? Unless you need to show income for retirement visa i suppose.

Bangkok Bank NY charges $5.00 to SWIFT it from NY to Thailand. When it gets to Thailand, Bangkok Bank on Silom Road charges 200 baht to convert it.

I too have been a Nationwide account holder for several years now and both the debit cards and credit cards are commision free for use overseas, however I believe for cash credit card withdrawals there is a 1.67% handling fee.

On moving to Thailand this year on a more permanent basis, I transferred a largish amount of cash by "swift" to my Bangkok Bank account and was charged 20 GB pounds by NW and another 20 GBP by Bangkok bank in London.

[JAS21]

I wonder if anyone has there Company pension paid inot THailand;

My Company pension is paid into UK bank Account, I asked if it acould be paid into my Thai Account but Royal Bank of Scotland which is used by my previous Employers do not do transfers to THailand

Not that it is a problem using Uk Account: but I am reviewing subjects like this

Hi

I bank with the RBS in Dartford. They have done SWIFT transfers for me. You can always get the RBS to SWIFT to your Thailand account. Think they charge #20 each time (sorry pound sign temp. gone). Charge this end is up to 500Baht (thats what Bangkok Bank charged me). You could get it sent every few months to save money. PM me if you want any more info