Transfer Money from UK to Thailand

[DanWill]

23 hours ago, lelapin said:

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.

And if the GBP had gone down???????

[DanWill]

18 hours ago, howerde said:

Rubbish, you have no idea, 

Go on then, enlighten us all on the best way please.

[scubascuba3]

29 minutes ago, DanWill said:

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.

but you won't get that Bangkok Bank rate

[DanWill]

25 minutes ago, scubascuba3 said:

but you won't get that Bangkok Bank rate

Why would you want a lower rate?

[scubascuba3]

6 minutes ago, DanWill said:

Why would you want a lower rate?

you wouldn't, point is it's difficult to compare because the Bangkok Bank rate you get is settlement date vs Wise trade date

[Chivas]

Some of the information yet again relating to finance is utterly catastrophic on Thaivisa. Its bad enough on exchange rate threads but here yet again just as shocking

 

Thaivisa literally need a proper moderator with long standing financial experience to mod accurately this sub forum as finance effects us all without exception and the advice is sadly frequently shocking

[LongTimeLurker]

On 9/3/2021 at 4:55 PM, DanWill said:

But at the rate set by the UK bank.

Not if he send Quids, they will be converted on arrival in his Thai bank at a better rate than if he converts in his UK bank.

[LongTimeLurker]

20 hours ago, pixelaoffy said:

really? A house cannot be in my name ? I thought it could be joint ownership, actual land cant be in a foreigners name?

The house can be in your sole name but the land can't.

 

But if it's an already existing house it would be problematical to separate the ownership of each portion during purchase.

 

So whatever you spend, you won't see again.

 

Get a 30 years lease on the property in your name if you feel you need some security of tenure.

[JetsetBkk]

On 9/3/2021 at 5:21 PM, scubascuba3 said:

Send a small test amount first to ensure it goes to the correct account with the correct coding

 

Exactly what I did to try "Wise" after using SWIFT for 20 years. The first test amount of £50 went through very fast. The second test amount of £1,000 got blocked by Nationwide:

After several 8 messages to and from their useless help desk staff who blamed the block on Wise, I eventually got this:

Hello,
 
Thank you for your message.
 Now that you have confirmed the transaction as genuine, I have removed the block from the system; this will allow you to use the card as normal.
 I apologise for any inconvenience this may cause.
 
Kind Regards,
 
Your Nationwide Financial Crime Team

I had to send them the above image of the block to show them that THEY blocked it!

Makes me think they did this on purpose to discourage me from using Wise.

 

Edited September 7, 2021 by JetsetBkk

[scubascuba3]

13 minutes ago, JetsetBkk said:

Exactly what I did to try "Wise" after using SWIFT for 20 years. The first test amount of £50 went through very fast. The second test amount of £1,000 got blocked by Nationwide:

After several 8 messages to and from their useless help desk staff who blamed the block on Wise, I eventually got this:

Hello,
 
Thank you for your message.
 Now that you have confirmed the transaction as genuine, I have removed the block from the system; this will allow you to use the card as normal.
 I apologise for any inconvenience this may cause.
 
Kind Regards,
 
Your Nationwide Financial Crime Team

I had to send them the above image of the block to show them that THEY blocked it!

Makes me think they did this on purpose to discourage me from using Wise.

 

i knew Santander would do the same so I called them as soon as i made the transfer, the system automatically blocks it, a separate security team unblocked it and it went through

[Stocky]

1 hour ago, JetsetBkk said:

Makes me think they did this on purpose to discourage me from using Wise.

I bank with Nationwide but I have a Monzo account too which I use to move money overseas. Monzo have a partnership with Wise so you can connect your Monzo and Wise accounts to make transfers almost seamless.

 

https://wise.com/gb/blog/monzo-wise-partnership

 

.

Edited September 7, 2021 by Stocky

[JetsetBkk]

3 hours ago, scubascuba3 said:

i knew Santander would do the same so I called them as soon as i made the transfer, the system automatically blocks it, a separate security team unblocked it and it went through

After my failed Wise transfer followed by the pathetic "Now that you have confirmed the transaction as genuine, I have removed the block" excuse from Nationwide, I did decide that the next time I did a WISE transfer, I would send them a message the day before to warn them. 

 

But while this was being sorted out and before I received the pathetic "unblock" message from Nationwide, I did do another SWIFT transfer. After that one worked, I got a message from Krung Thai bank that I couldn't believe:

                                        

 

How can they stop using SWIFT after all these years?

 

So yesterday I went to Krung Thai in Central Festival Phuket. I explained that I wanted to transfer money from England via SWIFT but as soon as I stopped talking she gave me this piece of paper:

 

                    

 

 - which is just the SWIFT code for the bank that I've been using for nearly 20 years. So did nobody tell her that the service was now closed?

 

Maybe I should send a secure message to my UK bank and ask them if they know what's going on.

If it's true and Krung Thai want me to use their "Next" phone app, I'll just use another bank in Thailand to receive the money.

 

[JetsetBkk]

21 minutes ago, JetsetBkk said:

How can they stop using SWIFT after all these years?

It just crossed my mind that maybe they have stopped the SWIFT service FROM their bank and not TO it.

They talk about closure of the service on "ktbnetbank.com" which is where I go to check my money, but it is not where I go to do the SWIFT transfer - that is done on the Nationwide site.

 

 

[scubascuba3]

6 hours ago, JetsetBkk said:

It just crossed my mind that maybe they have stopped the SWIFT service FROM their bank and not TO it.

They talk about closure of the service on "ktbnetbank.com" which is where I go to check my money, but it is not where I go to do the SWIFT transfer - that is done on the Nationwide site.

 

 

Yes it could mean that, stopping incoming intl transfers would be daft. With Wise the UK bank gets jumpy for initial transfers and big transfers. If you are sending a few £k it should go through now no problem, i would use them

Edited September 7, 2021 by scubascuba3

[theoldgit]

@pixelaoffyYou mentioned the Bangkok Bank in London, they aren't a retail bank but they will transfer funds to an account in Thailand, it's been a while since I've used them and I think I had to register first, but this details their service.

 

https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/Transfer-money-from-UK-to-Thailand-via-London-Branch

[ivor bigun]

Over the years used all methods ,now i have  found wise to be the best.

[Cake Monster]

On 9/3/2021 at 4:53 PM, 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?

I think you probably have issues with transferring a large amount like this with the Money Laundering Laws that are in effect.

When I transferred some large amounts, anything over 30,000 $US, was pinged, and I had to attend my KrungThai Bank branch personally in order to get the Money released.

You may have to break down into smaller sums your Transactions.

Others may have more info about this so wait out a while.