X Change £ Into Baht

[binnsy]

Buying land where is the best place to get decent rates for GBP?In bangkok without getting done

[londonthai]

chinatown, hight street banks, give the best exchange rate. You have to walk/call from branch to branch to check their rate for that day. I would rather use debit or credit card to be charged than walk with cash

[bkk_mike]

If it's more than a few thousand pounds - I'd do the telegraphic transfer from the UK - and keep the forms. (that way you're allowed to take the money back out of the country again, as you have the proof it was transferred in. - and this is the only way to do it if you're buying a condo in your own name - not an issue with Land, as you can't own it in your own name).

Just make sure that you repeatedly specify that the transfer should be in Sterling - as conversion to Thai baht outside of Thailand is a very bad idea.

If it's only a few thousand, and you're converting physical notes, then the private money changing places will generally give slightly better rates than the banks. (Personally I use Siam Exchange opposite the Siam Discovery Centre - mainly because it's easy to get to from the Skytrain. - there are others...)

If it's Traveller's cheques, then the banks are probably your best bet (as the private money changers don't like taking large amounts of travellers cheques).

One thing to always remember - NEVER convert money to Baht outside Thailand. The FX spreads here are far better than you get in the UK.

[binnsy]

If it's more than a few thousand pounds - I'd do the telegraphic transfer from the UK - and keep the forms. (that way you're allowed to take the money back out of the country again, as you have the proof it was transferred in. - and this is the only way to do it if you're buying a condo in your own name - not an issue with Land, as you can't own it in your own name).

Just make sure that you repeatedly specify that the transfer should be in Sterling - as conversion to Thai baht outside of Thailand is a very bad idea.

If it's only a few thousand, and you're converting physical notes, then the private money changing places will generally give slightly better rates than the banks. (Personally I use Siam Exchange opposite the Siam Discovery Centre - mainly because it's easy to get to from the Skytrain. - there are others...)

If it's Traveller's cheques, then the banks are probably your best bet (as the private money changers don't like taking large amounts of travellers cheques).

One thing to always remember - NEVER convert money to Baht outside Thailand. The FX spreads here are far better than you get in the UK.

Is there a limit on how much i could transfer to my Bangkok Bank Account?As i keep comining across the 30% thing?

[Monkeypants]

If it's more than a few thousand pounds - I'd do the telegraphic transfer from the UK - and keep the forms. (that way you're allowed to take the money back out of the country again, as you have the proof it was transferred in. - and this is the only way to do it if you're buying a condo in your own name - not an issue with Land, as you can't own it in your own name).

Just make sure that you repeatedly specify that the transfer should be in Sterling - as conversion to Thai baht outside of Thailand is a very bad idea.

If it's only a few thousand, and you're converting physical notes, then the private money changing places will generally give slightly better rates than the banks. (Personally I use Siam Exchange opposite the Siam Discovery Centre - mainly because it's easy to get to from the Skytrain. - there are others...)

If it's Traveller's cheques, then the banks are probably your best bet (as the private money changers don't like taking large amounts of travellers cheques).

One thing to always remember - NEVER convert money to Baht outside Thailand. The FX spreads here are far better than you get in the UK.

Is there a limit on how much i could transfer to my Bangkok Bank Account?As i keep comining across the 30% thing?

Well as it happens I am in the process of sending money from the UK.

I spoke to the bank Ayudha, and they said that I could transfer not more than 600,000.00 baht in a lump sum

I can do this as many times as I want and that the 30% withholding thing won't take affect, It wouldn't anyway if I sent larger amounts but I would have to prove where the money came from and that it was for land purchase, house purchase.

So I sent over £7500 in STERLING, and had Ayudha bank do the exchange, I got 68.5 baht to the pound, this was yesterday.

I have to do this 3 times to get my money there, the bank charges were £21 to send and a small commission to pay at the Thai bank

I would make sure that the Bangkok bank operate on the same principals afterall TIT

Hope this helps

Edited August 8, 2007 by Monkeypants

[binnsy]

If it's more than a few thousand pounds - I'd do the telegraphic transfer from the UK - and keep the forms. (that way you're allowed to take the money back out of the country again, as you have the proof it was transferred in. - and this is the only way to do it if you're buying a condo in your own name - not an issue with Land, as you can't own it in your own name).

Just make sure that you repeatedly specify that the transfer should be in Sterling - as conversion to Thai baht outside of Thailand is a very bad idea.

If it's only a few thousand, and you're converting physical notes, then the private money changing places will generally give slightly better rates than the banks. (Personally I use Siam Exchange opposite the Siam Discovery Centre - mainly because it's easy to get to from the Skytrain. - there are others...)

If it's Traveller's cheques, then the banks are probably your best bet (as the private money changers don't like taking large amounts of travellers cheques).

One thing to always remember - NEVER convert money to Baht outside Thailand. The FX spreads here are far better than you get in the UK.

Is there a limit on how much i could transfer to my Bangkok Bank Account?As i keep comining across the 30% thing?

Well as it happens I am in the process of sending money from the UK.

I spoke to the bank Ayudha, and they said that I could transfer not more than 600,000.00 baht in a lump sum

I can do this as many times as I want and that the 30% withholding thing won't take affect, It wouldn't anyway if I sent larger amounts but I would have to prove where the money came from and that it was for land purchase, house purchase.

So I sent over £7500 in STERLING, and had Ayudha bank do the exchange, I got 68.5 baht to the pound, this was yesterday.

I have to do this 3 times to get my money there, the bank charges were £21 to send and a small commission to pay at the Thai bank

I would make sure that the Bangkok bank operate on the same principals afterall TIT

Hope this helps

Cheers