Transfer 5 Million Baht From Uk - Thailand

[Kadafi]

Hi i want to transfer about 5 million baht into Thailand from a bank account in the UK.

At the moment, in Thailand i only have a Kasikorn account.

What would be the best way to transfer the money without losing loads on exchange rates and charges?

All advice welcome...

[Sabaidii]

Hi i want to transfer about 5 million baht into Thailand from a bank account in the UK.

At the moment, in Thailand i only have a Kasikorn account.

What would be the best way to transfer the money without losing loads on exchange rates and charges?

All advice welcome...

It is called an International Wire Transfer. You will get the best exchange rate with minimal fees. Be sure not to convert to Baht until your funds arrive in Thailand.

[tomuk76]

Hi i want to transfer about 5 million baht into Thailand from a bank account in the UK.

At the moment, in Thailand i only have a Kasikorn account.

What would be the best way to transfer the money without losing loads on exchange rates and charges?

All advice welcome...

I know bangkok bank would charge you 500 baht and the UK bank should charge about 20-30 pounds. You will get the TT rate at the recieving bank on the day it arrives. As stated before send it sterling and covert to baht at the thai bank otherwise you will lose lots of money with a crap rate from the UK bank.

[Carib]

If it is for a house/condo make sure it says so on the transfer. After selling later, you will have a hard time getting the money back out of Thailand should you want to do so.

And yes, transfer pounds, conversion in Thailand, gets you better rates.

[Chaimai]

Hi i want to transfer about 5 million baht into Thailand from a bank account in the UK.

At the moment, in Thailand i only have a Kasikorn account.

What would be the best way to transfer the money without losing loads on exchange rates and charges?

All advice welcome...

It is called an International Wire Transfer. You will get the best exchange rate with minimal fees. Be sure not to convert to Baht until your funds arrive in Thailand.

[Nickthegreek]

Siam commercial Bank are very helpful...Dont pay the fees in the Uk..get the recieving bank to charge you as previously stated..

Siam will fix rates,here are there contact details:

*FOR AMOUNT (T/T, D/D) OVER USD 50,000.-, PLEASE CALL TREASURY

DEPARTMENT TEL. 02-544-5700-14, 02-544-5741-45

*FOR BANK NOTES AMOUNT OVER USD 20,000.-, PLEASE CALL TEL. 02-544-3748-49

[GuestHouse]

Send it in two amounts - a small 'check transfer' to ensure that all the details are correct followed by a the residue.

The last thing you want is your cash going into someone else's account...... Well not so very soon anyway

[Pappiklon]

Depends on what you want to transfer the money in for, as a previous post has said if it's for a condo purchase you have to TT it to a Thai Bank (pretty similar TT exchange rates) getting the UK bank to transfer it in as £UK and specifically stating on the TT 'For Purchase of Condominium', you can then get a TT3 - Foreign Exchange Certificate from the bank which means you can take it out of Thailand again no problem. Do NOT convert to Thai Baht in the UK you'll get a lousy rate and end up losing a lot. Always TT in in £sterling. I used to TT in my money in chunks of about 10-20k at a time, but the time it takes to arrive varies greatly, I've had it 4 days later and almost 30 days later, because of hugely fluctuating rates I sometimes got rates very different from what I had hoped to get because of the different rate between when I asked for the transfer and when it went into the account. Mostly nowadays I bring it in in cash (In 50's it's not that bulky) and change it at my favourite exchange dealer near Central World...this means I have control over the rate for the date I'm exchanging at and don't have to change it all at once...plus they generally give a better rate than the TT rate at the bank.

[tomuk76]

Depends on what you want to transfer the money in for, as a previous post has said if it's for a condo purchase you have to TT it to a Thai Bank (pretty similar TT exchange rates) getting the UK bank to transfer it in as £UK and specifically stating on the TT 'For Purchase of Condominium', you can then get a TT3 - Foreign Exchange Certificate from the bank which means you can take it out of Thailand again no problem. Do NOT convert to Thai Baht in the UK you'll get a lousy rate and end up losing a lot. Always TT in in £sterling. I used to TT in my money in chunks of about 10-20k at a time, but the time it takes to arrive varies greatly, I've had it 4 days later and almost 30 days later, because of hugely fluctuating rates I sometimes got rates very different from what I had hoped to get because of the different rate between when I asked for the transfer and when it went into the account. Mostly nowadays I bring it in in cash (In 50's it's not that bulky) and change it at my favourite exchange dealer near Central World...this means I have control over the rate for the date I'm exchanging at and don't have to change it all at once...plus they generally give a better rate than the TT rate at the bank.

I hope your not suggesting to him to bring it to thailand in a suitcase!!

[Boater]

if i was transferring that amount, i would wait a max of 4 weeks.... thus to see what is happenng with the exchange rates in the last week..

[Kadafi]

Thanks everyone for some great responses, i will make sure i transfer it in £sterling and also write on the transfer what its for.

Also can this amount be transfered by contacted the UK bank over the phone? as i will be doing it in Thailand and not from England...

[JohnC]

As I was already in Thailand my bank insisted on a fax copy of my passport and uk driving licence before they would transfer money to my Bangkok Bank.

[johnnyk]

Same for me.

I spoke with my bank first over the phone and directed the fax to that person to try and have some continuity.

Make sure your bank notes "for house purchase" or something similar on the transfer form.

And make sure you know your Thai bank's SWIFT code to tell your UK bank.

[Pappiklon]

Depends on what you want to transfer the money in for, as a previous post has said if it's for a condo purchase you have to TT it to a Thai Bank (pretty similar TT exchange rates) getting the UK bank to transfer it in as £UK and specifically stating on the TT 'For Purchase of Condominium', you can then get a TT3 - Foreign Exchange Certificate from the bank which means you can take it out of Thailand again no problem. Do NOT convert to Thai Baht in the UK you'll get a lousy rate and end up losing a lot. Always TT in in £sterling. I used to TT in my money in chunks of about 10-20k at a time, but the time it takes to arrive varies greatly, I've had it 4 days later and almost 30 days later, because of hugely fluctuating rates I sometimes got rates very different from what I had hoped to get because of the different rate between when I asked for the transfer and when it went into the account. Mostly nowadays I bring it in in cash (In 50's it's not that bulky) and change it at my favourite exchange dealer near Central World...this means I have control over the rate for the date I'm exchanging at and don't have to change it all at once...plus they generally give a better rate than the TT rate at the bank.

I hope your not suggesting to him to bring it to thailand in a suitcase!!

No not on the 70k, I believe you have to declare amounts over $10,000 anyway on entry, which I'd be wary of doing. On smaller sums though like £10k (me and my wife) it's by far the most economical way to bring it in and ensure you get the best rate. As for security I'd much rather walk down the street here than in the UK with 10k in my pocket