Confusion Over How To Transfer Money Efficiently From The UK To Thailand

[brianthainess]

Whatever you do do not close your UK bank, always keep it open if you can.

[Tracyb]

On 9/16/2021 at 9:49 AM, itsari said:

I believe that there is no charge from banks in Thailand for incoming funds from companies such as wise because the baht you are buying is already here in Thailand . That is the reason for the lower charges and better rates .

Waiting for the negative comments . But that is what i have read and believe to be correct .

 

Wise charges a fee to access ones funds from the originating source bank.  

[rickudon]

Cashing in your investments in Hargreaves Lansdown and transferring to Thailand (where the Thai baht is currently falling) sounds like a poor decision. My investments in the UK have grown by 50% in the last 5 years (maybe i was lucky).

 

An alternative if you just want to move money regularly from UK - as the OP has a Halifax bank account, get a Halifax Clarity credit card - can withdraw money at some Thai banks with no fee from Halifax or the Thai bank. I do this and the exchange rate is similar to using Wise (taking their fee into account). Easy to pay off the card using internet banking. This is what i have done for years.

[dabhand]

20 hours ago, rickudon said:

Cashing in your investments in Hargreaves Lansdown and transferring to Thailand (where the Thai baht is currently falling) sounds like a poor decision. My investments in the UK have grown by 50% in the last 5 years (maybe i was lucky).

 

An alternative if you just want to move money regularly from UK - as the OP has a Halifax bank account, get a Halifax Clarity credit card - can withdraw money at some Thai banks with no fee from Halifax or the Thai bank. I do this and the exchange rate is similar to using Wise (taking their fee into account). Easy to pay off the card using internet banking. This is what i have done for years.

Out of interest (and a bit off topic), ref the Halifax Clarity card, does Halifax send renewal cards to Thailand? I have the card but it was set up with a UK address. I changed that a couple of years back to a Thai address and have not received a new card after my current card expired last month.

If cards are not sent to Thailand, is it easy enough to redirect them to a UK address if Halifax are requested to do so?

[rickudon]

Probably will not send to Thailand. I get mine sent to a relative and forwarded to me in the post, or i collect it on trips to the UK. 

[pixelaoffy]

On 9/16/2021 at 2:58 PM, Autonuaq said:

you have to follow the instructions and startto tranffer a small amount first to understand the concept.

 

when you do you will see you can transfer direct to you thai bank account.

the will collect first the payment in your currency, then they will transfer it to you bank account.

all works easy and smooth.

 

try with just sending 10 GBP and you will see all works smooth

 

So I about to send 20 UK pounds and I get message the cost is 83p to send  Seriously how is Wise the best  I saw .51% fee on a previous entering on a larger amount 

[Chivas]

2 hours ago, pixelaoffy said:

So I about to send 20 UK pounds and I get message the cost is 83p to send  Seriously how is Wise the best  I saw .51% fee on a previous entering on a larger amount 

Fella at the risk of blowing a fuse. Start with £1000 at £5.91 and then add £20 on top.......What does the fee come to now ??

It rises by 10p to £6.01. Not 83p on top

 

You cant expect Wise to send £20 for 10p can you !  Wise was never ever intended for sending half an hours beer money