Best way to transfer 750k baht back to UK

[Kevin neil]

Hi.. 

I will be returning to Jomtien in June to Repatriate BKK bank monies to my UK bank.. Approx 750k baht... 

 

Please can anyone advise on best cost effective options and approx charges atm.. 

 

Tia

[theoldgit]

You might be better asking about repatriating funds in the banking forum, rather than the Visa Forum.

[homeseeker]

I do not know the best cost effective method. But knowing how difficult  it can sometimes be in transferring money out of Thailand from Thai Banks, why do u not investigate using Dee money to do the transfer?

Once you have opened the  Dee account you can do the transfer in one transaction; takes about 1 day for the money to arrive.

I think good exchange rate and minimal charges.

See:

Money transfer from Thailand to The World with DeeMoney

 

Edited May 20, 2023 by homeseeker

[DrJack54]

DEE Money. 

Cannot use WISE. 

[Thailand]

Go to your bank fill out an international transfer form, transfer money. You will be transferring sterling, rates calculated at branch for that day. Option for transferee or beneficiary to pay costs. About 400 baht transfer fee.

Usually 3-4 working days.

[stubuzz]

Convert to sterling and carry it home with you.

[it is what it is]

31 minutes ago, stubuzz said:

Convert to sterling and carry it home with you.

yea, that's how i'd do it

[richard_smith237]

Just as homeseeker &  DrJack54 wrote… Dee Money is perfect for this…

 

Trx up to 800,000 baht per day. 
 

I used it a few months back (trx to Uk account)… I’d never used the app before that but did so based on a recommendation from this forum. The transaction was incredibly simple & took one day.

 

Using Dee money for such transactions is somewhat of a no brainer now. 
 

 

Edited May 20, 2023 by richard_smith237

[Kevin neil]

Many thanks for all replies. 

Just one more question.. 

What are the exchange rates for international bank v Deemoney..? 

[BritTim]

The only option suggested by monito is to use Skrill. The exchange rate you get is not very good (you lose over 1.5% compared to the mid market rate) but they have no other charges.

[liddelljohn]

Cary £14,000 in cash into UK will get u a tug at customs  who will confiscate it and ask for proof of origin , etc ,, not worth the risk

[treetops]

9 hours ago, liddelljohn said:

Cary £14,000 in cash into UK will get u a tug at customs  who will confiscate it and ask for proof of origin , etc ,, not worth the risk

You can declare it on arrival and as long as you can show the source is legitimate you'll be OK.

[Chivas]

14 hours ago, stubuzz said:

Convert to sterling and carry it home with you.

Spot on.....

 

9 hours ago, liddelljohn said:

Cary £14,000 in cash into UK will get u a tug at customs  who will confiscate it and ask for proof of origin , etc ,, not worth the risk

Totally inaccurate

Declaration, Documentation and proof of origin and you're on your way

 

Out of interest you're more likely to get a tug going through Bangkok personal scanners on outbound sector

 

Heathrow personal scanners have clocked me twice (from memory around £4000) but I know to carry proof of origin paperwork

[richard_smith237]

12 hours ago, Kevin neil said:

Many thanks for all replies. 

Just one more question.. 

What are the exchange rates for international bank v Deemoney..? 

This is what DeeMoney gets you today. 

[treetops]

5 minutes ago, richard_smith237 said:

This is what DeeMoney gets you today.

Current rate on XE would give £17,560.50 so £361.74 going to Dee money and any intermediaries.

 

It'd be interesting to know what the recipient would end up with if doing it by bank transfer.

[topt]

13 minutes ago, treetops said:

It'd be interesting to know what the recipient would end up with if doing it by bank transfer.

You need to look up the specific bank exchange rates to give an idea - trouble is you won't know for sure until they actually exchange it as they of course change multiple times per day.

scb here - https://www.scb.co.th/en/personal-banking/foreign-exchange-rates.html

Bangkok bank - https://www.bangkokbank.com/en/Personal/Other-Services/View-Rates/Foreign-Exchange-Rates

 

Note date and time at the head of the rates.

 

OP may know what his bank will charge but unless you take all charges there may be a correspondent bank fee in the middle and then 2-500 baht charge at the Thai bank end.

[treetops]

4 minutes ago, topt said:

OP may know what his bank will charge but unless you take all charges there may be a correspondent bank fee in the middle and then 2-500 baht charge at the Thai bank end.

The exchange rate bit is easy.  The bit I quoted is the unknown (to me at least) which is what is needed to compare with DeeMoney.

[topt]

Just now, treetops said:

The exchange rate bit is easy.  The bit I quoted is the unknown (to me at least) which is what is needed to compare with DeeMoney.

Agreed but unfortunately every bank is different. I can tell you what it costs me for Lloyds for example but again depends if you accept all charges or share charges (with them anyway).

[Issanman]

If you have the money in Bangkok Bank, you can transfer the money via Swift on their Bualuang phone app. They charged me 300฿.

I have no idea about the exchange rate they used.

But it was very easy to do and the money showed up in my Schwab account just a few hours later.

 

[norbra]

Deemoney have next day delivery guarantee.

See website for details 

Edited May 21, 2023 by norbra