Money Transfer

[Patriciachas]

i would like to know ,which is the best way to transfer money to thailand from a uk bank.Is it best to do it while i am in the uk or when i am in thailand.

I have also seen some posts saying that the bank withholds 30% if the transfer is for more than £10,000,how long do they with hold it for and for what reason any advice appreciated.

[melbat]

i would like to know ,which is the best way to transfer money to thailand from a uk bank.Is it best to do it while i am in the uk or when i am in thailand.

I have also seen some posts saying that the bank withholds 30% if the transfer is for more than £10,000,how long do they with hold it for and for what reason any advice appreciated.

I transfer money with the international section of my bank. You can transfer up to 5000 pounds sterling in 1 day to a Thai bank account. The fee for this service is 20 pounds and takes about 3 to 4 working days to arrive in my bank account. Make sure you transfer in STERLING not thai baht.. as the banks here give you a much better exchange rate. As far as I know the 30% rule don't apply to personal bank accounts for money to be used for personal expenditure but I might be wrong. Anyway my bank here have never applied it to me.

[naka]

Send by SWIFT transfer and send in Sterling only. Does not matter

whether you're in Thailand or UK although you need to have

a Thai bank account first.

The 30% withholding only applies on transfers over GBP 10k

and normally will not be applied if the funds are for living expenses.

I have never heard of a 5k limit, I transfer much more than that every year.

Naka.

[Patriciachas]

Send by SWIFT transfer and send in Sterling only. Does not matter

whether you're in Thailand or UK although you need to have

a Thai bank account first.

The 30% withholding only applies on transfers over GBP 10k

and normally will not be applied if the funds are for living expenses.

I have never heard of a 5k limit, I transfer much more than that every year.

Naka.

Thanks for the replies most helpful

[churchill]

And for transferring Thai Baht to UK - Is it best to exchange to sterling in Thailand or transfer in Baht ?

[weescotsguy66]

For large amount I use Halifax, 17.50 GBP best to transfer in UK GBP and take the chance of a better exchange rate here. It is normally better here than in UK. But make sure they tell them since they get their commission for changing it.

Better than that is the Nationwide, using ATM it is free for small amount of mney for larger regular amount open 2 accounts.

to deposit use an internet account to disposit the money in. Like your Halifax account.