pixelaoffy Posted September 3, 2021 Share Posted September 3, 2021 I cant find the thread about transferring a large sum of money from UK to Thailand. I am looking to transfer around 60,000-70,000UK Pounds about 2.5 million baht . What is the best way and best rate method to use. I have a Bangkok Bank account in Thailand and see that Bangkok bank have a branch in London. would this be a good method to use? If any one has any experience of transferring please reply, and any help to find a thread on this on the forum.. Thanks Link to comment Share on other sites More sharing options...
howerde Posted September 3, 2021 Share Posted September 3, 2021 (edited) I transfer direct from Lloyds bank in uk to bangkok bank in Thailand, flat fee 9.50 from lloyds, never been charged by bangkok bank, takes about 3 days, Edited September 3, 2021 by howerde missing text 2 Link to comment Share on other sites More sharing options...
pixelaoffy Posted September 3, 2021 Author Share Posted September 3, 2021 14 minutes ago, howerde said: I transfer direct from Lloyds bank in uk to bangkok bank in Thailand, flat fee 9.50 from lloyds, never been charged by bangkok bank, takes about 3 days, Ok Guess only way is have to open lloyds bank account . Others must be similar I have Nationwide Bank Link to comment Share on other sites More sharing options...
Greenwich Boy Posted September 3, 2021 Share Posted September 3, 2021 People will be on to recommend firms like Transferwise etc. I would add if comparing companies then look at the rate not just the fees. A low fee is worthless if the rate is lousy, just a fee by another name. Also tell your UK bank before you transfer. I have the misfortune to have HSBC as my bank and regularly get relatively small transfers blocked due to 'possible fraud' A real ball ache to get fixed. 1 Link to comment Share on other sites More sharing options...
Popular Post Kwasaki Posted September 3, 2021 Popular Post Share Posted September 3, 2021 Wise I would use. Not necessarily all at once though up to you. 3 Link to comment Share on other sites More sharing options...
pixelaoffy Posted September 3, 2021 Author Share Posted September 3, 2021 there was a thread on this few weeks ago .. specially for large amounts Link to comment Share on other sites More sharing options...
DanWill Posted September 3, 2021 Share Posted September 3, 2021 7 minutes ago, pixelaoffy said: Ok Guess only way is have to open lloyds bank account . Others must be similar I have Nationwide Bank Then it is £20. 1 Link to comment Share on other sites More sharing options...
lelapin Posted September 3, 2021 Share Posted September 3, 2021 I have a Nationwide account in UK. I set up a sterling account at Bangkok Bank and transfer my money in sterling from there to it. I think the charge in the UK is about 20 pounds. I can then transfer money from my Bangkok Bank sterling account here to my ATM a/c. This way you can transfer the money into baht as and when you need it or when the rate looks good. I do it online and it works very well. Link to comment Share on other sites More sharing options...
pixelaoffy Posted September 3, 2021 Author Share Posted September 3, 2021 Just now, DanWill said: Then it is £20. Ok so its a twenty pound fee by nationwide. And its transferred as UK pounds and then changed to baht when arrives? Link to comment Share on other sites More sharing options...
DanWill Posted September 3, 2021 Share Posted September 3, 2021 3 minutes ago, Kwasaki said: Wise I would use. Not necessarily all at once though up to you. Wises' charges are a percentage of what you send, so up to a limit it is cheaper. A SWIFT from say Nationwide is £20 however much you send. Link to comment Share on other sites More sharing options...
pixelaoffy Posted September 3, 2021 Author Share Posted September 3, 2021 Just now, lelapin said: I have a Nationwide account in UK. I set up a sterling account at Bangkok Bank and transfer my money in sterling from there to it. I think the charge in the UK is about 20 pounds. I can then transfer money from my Bangkok Bank sterling account here to my ATM a/c. This way you can transfer the money into baht as and when you need it or when the rate looks good. I do it online and it works very well. I am in the UK so guess I cant set up a sterling account for me account in Thailand. I can still transfer though? Link to comment Share on other sites More sharing options...
DanWill Posted September 3, 2021 Share Posted September 3, 2021 (edited) 3 minutes ago, pixelaoffy said: Ok so its a twenty pound fee by nationwide. And its transferred as UK pounds and then changed to baht when arrives? Up to you, if you have a Foreign Currency Account, you can do it in GBP and then exchange as and when you want. The rate from UK Banks will not be as good. I have got a Bkk Bank Foreign Currency Account, so if you want to send your GBP to it, then I shall send the appropriate THB to your Thai Bank........555 Edited September 3, 2021 by DanWill Link to comment Share on other sites More sharing options...
DanWill Posted September 3, 2021 Share Posted September 3, 2021 1 minute ago, pixelaoffy said: I am in the UK so guess I cant set up a sterling account for me account in Thailand. I can still transfer though? But at the rate set by the UK bank. Link to comment Share on other sites More sharing options...
johng Posted September 3, 2021 Share Posted September 3, 2021 10 minutes ago, pixelaoffy said: And its transferred as UK pounds and then changed to baht when arrives? Yes always send the money in pounds sterling..the banks will often try tricky methods to try and fool you into letting them to do the currency conversion their end so check carefully also pay any "other charges" at the receiving end. Link to comment Share on other sites More sharing options...
Chris.B Posted September 3, 2021 Share Posted September 3, 2021 The Op seems transfixed on the Swift transfer fee while ignoring the exchange rate. ☹️ Correct me if I am wrong, but most banks charge a transfer fee based on sending foreign currency not GBP. Link to comment Share on other sites More sharing options...
scubascuba3 Posted September 3, 2021 Share Posted September 3, 2021 Wise will give you the best rate most likely even if you take account of fees. Max is 2m per transaction. Be very careful when you transfer if its for "International" purposes i.e. for a condo, important you pick the correct "reason for transfer" Send a small test amount first to ensure it goes to the correct account with the correct coding 2 Link to comment Share on other sites More sharing options...
cyril sneer Posted September 3, 2021 Share Posted September 3, 2021 what's it for? Link to comment Share on other sites More sharing options...
Bruno123 Posted September 3, 2021 Share Posted September 3, 2021 45 minutes ago, pixelaoffy said: Ok so its a twenty pound fee by nationwide. And its transferred as UK pounds and then changed to baht when arrives? Unfortunately some slightly dodgy advice here, such as; Quote I transfer direct from Lloyds bank in uk to bangkok bank in Thailand, flat fee 9.50 from lloyds, never been charged by bangkok bank, takes about 3 days, If he is not charged by Bangkok Bank it means that Lloyds did the conversion at a poor rate. If he was charged by Bangkok Bank it means that it was sent in Pounds and Bangkok Bank did the conversion at their TT rate and took up to 500 baht. So also send in Pounds and let the Thai bank do the conversion or use something like WISE as suggested. Though do reply to questions asked as there might be other things to be considered. 2 Link to comment Share on other sites More sharing options...
DanWill Posted September 3, 2021 Share Posted September 3, 2021 1 hour ago, lelapin said: I have a Nationwide account in UK. I set up a sterling account at Bangkok Bank and transfer my money in sterling from there to it. I think the charge in the UK is about 20 pounds. I can then transfer money from my Bangkok Bank sterling account here to my ATM a/c. This way you can transfer the money into baht as and when you need it or when the rate looks good. I do it online and it works very well. That's great if you do not need the deposit in your Bkk Bank to show as a FTT = Foreign Transfer as you do for Immigration extensions. But you are still tied to Bkk Bank's exchange rate which is well below Wises'. Link to comment Share on other sites More sharing options...
sanuk711 Posted September 3, 2021 Share Posted September 3, 2021 2 hours ago, pixelaoffy said: I cant find the thread about transferring a large sum of money from UK to Thailand. I am looking to transfer around 60,000-70,000UK Pounds about 2.5 million baht Do you have an account in Thailand ? -- "Wise" is worth looking at, but they have a limit of 2 Million Baht.... so you would have to do 2 transfers. If you have an account in Thailand then talk to that bank...BKK Bank gave me a rate better than wise for a large amount, and Transferred n 26 hours. They are all trying to Improve since Wise came into the game. 2 Link to comment Share on other sites More sharing options...
Kwasaki Posted September 3, 2021 Share Posted September 3, 2021 2 hours ago, DanWill said: Wises' charges are a percentage of what you send, so up to a limit it is cheaper. A SWIFT from say Nationwide is £20 however much you send. As I said up to you if I want money I use 'Wise'. 2 Link to comment Share on other sites More sharing options...
lelapin Posted September 3, 2021 Share Posted September 3, 2021 Just now, DanWill said: That's great if you do not need the deposit in your Bkk Bank to show as a FTT = Foreign Transfer as you do for Immigration extensions. But you are still tied to Bkk Bank's exchange rate which is well below Wises'. It may be at the time that the money is being transferred but not if you can choose when you can convert from sterling to baht. I have made more than 3 % recently by waiting 3 weeks after I transferred the money to convert it to baht. Link to comment Share on other sites More sharing options...
pixelaoffy Posted September 3, 2021 Author Share Posted September 3, 2021 2 hours ago, cyril sneer said: what's it for? to buy a small house, Do I need to have some proof? Link to comment Share on other sites More sharing options...
pixelaoffy Posted September 3, 2021 Author Share Posted September 3, 2021 1 hour ago, sanuk711 said: Do you have an account in Thailand ? -- "Wise" is worth looking at, but they have a limit of 2 Million Baht.... so you would have to do 2 transfers. If you have an account in Thailand then talk to that bank...BKK Bank gave me a rate better than wise for a large amount, and Transferred n 26 hours. They are all trying to Improve since Wise came into the game. yes I have two bank accounts , bangkok and K, but its Thai baht . So is it better to do direct to thai bank and in sterling and then exchange to Thai baht? or have to monitor rates compared with transferwise ? Link to comment Share on other sites More sharing options...
sanuk711 Posted September 3, 2021 Share Posted September 3, 2021 35 minutes ago, pixelaoffy said: to buy a small house, Do I need to have some proof? If its a house it wont be in your name---but a condo you do need proof. Also keep the Exchange print out from the bank-- you may decide to move on at a latter date. You would need that to take money out of Thailand. Link to comment Share on other sites More sharing options...
pixelaoffy Posted September 3, 2021 Author Share Posted September 3, 2021 3 hours ago, sanuk711 said: If its a house it wont be in your name---but a condo you do need proof. Also keep the Exchange print out from the bank-- you may decide to move on at a latter date. You would need that to take money out of Thailand. really? A house cannot be in my name ? I thought it could be joint ownership, actual land cant be in a foreigners name? Link to comment Share on other sites More sharing options...
howerde Posted September 3, 2021 Share Posted September 3, 2021 5 hours ago, Bruno123 said: Unfortunately some slightly dodgy advice here, such as; If he is not charged by Bangkok Bank it means that Lloyds did the conversion at a poor rate. If he was charged by Bangkok Bank it means that it was sent in Pounds and Bangkok Bank did the conversion at their TT rate and took up to 500 baht. So also send in Pounds and let the Thai bank do the conversion or use something like WISE as suggested. Though do reply to questions asked as there might be other things to be considered. Rubbish, you have no idea, 1 Link to comment Share on other sites More sharing options...
cyril sneer Posted September 3, 2021 Share Posted September 3, 2021 9 hours ago, pixelaoffy said: to buy a small house, Do I need to have some proof? No, just checking you weren’t buying gold for your partner Link to comment Share on other sites More sharing options...
Bruno123 Posted September 4, 2021 Share Posted September 4, 2021 7 hours ago, howerde said: Rubbish, you have no idea, That statement covers your original post. You can always come back to apologise once you have gone away to re-check your facts. Link to comment Share on other sites More sharing options...
DanWill Posted September 4, 2021 Share Posted September 4, 2021 22 hours ago, pixelaoffy said: yes I have two bank accounts , bangkok and K, but its Thai baht . So is it better to do direct to thai bank and in sterling and then exchange to Thai baht? or have to monitor rates compared with transferwise ? Current Bkk Bank GBP-THB = 44.665. Wises' rate is 45.028. So on GBP1000 its only THB 350 different. How many beers is that? But if you need it for Immigration, Wise is the way to go. Link to comment Share on other sites More sharing options...
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