Huge markup on imported foods. Why?

[Steps]

Hi there, anybody help me and fellow Brits with the cheapest way to send money to Thailand Via the UK. I read somewhere on this forum that the HSBC done it for free. However, on opening an account with them and questioning the lady, the reply was "there is charges depending on how much you send" (can't remember the charges).

-Also what banks would it be better to send the money to

-And should i tick the box to say let the UK banks charge or the Thai banks charge

I am already aware to send the money in Sterling in order to get a better exchange rate, therefore recieving more baht for the pound.

All help would be appreciated

Thank you

[dougieboy]

Hi there, anybody help me and fellow Brits with the cheapest way to send money to Thailand Via the UK. I read somewhere on this forum that the HSBC done it for free. However, on opening an account with them and questioning the lady, the reply was "there is charges depending on how much you send" (can't remember the charges).

-Also what banks would it be better to send the money to

-And should i tick the box to say let the UK banks charge or the Thai banks charge

I am already aware to send the money in Sterling in order to get a better exchange rate, therefore recieving more baht for the pound.

All help would be appreciated

Thank you

I am with HSBC and they charge about 2.25 per withdrawal, My wifes mother draws 5000 Baht per month using a debit card we supplied to her, from an account set up in the UK. I told HSBC that I spend alot of time in Thai so they think I am using the card. Its not too exspensive.

[enyaw]

Hi there, anybody help me and fellow Brits with the cheapest way to send money to Thailand Via the UK. I read somewhere on this forum that the HSBC done it for free. However, on opening an account with them and questioning the lady, the reply was "there is charges depending on how much you send" (can't remember the charges).

-Also what banks would it be better to send the money to

-And should i tick the box to say let the UK banks charge or the Thai banks charge

I am already aware to send the money in Sterling in order to get a better exchange rate, therefore recieving more baht for the pound.

All help would be appreciated

Thank you

I am with HSBC and they charge about 2.25 per withdrawal, My wifes mother draws 5000 Baht per month using a debit card we supplied to her, from an account set up in the UK. I told HSBC that I spend alot of time in Thai so they think I am using the card. Its not too exspensive.

If you are sending money to someone in Thailand on a regular basis a popular suggested way (UK) is to open 2 accounts with Nationwide (no fees on transactions abroad) one of the accounts will have the usuall overdraft facility and a debit card etc and the other no overdraft and a cash card for withdrawells only. Send the cash card to the recipient in Thailand and then you can transfer money between the accounts online.

[PattayaParent]

Been with HSBC for years and it's definitely not free.

In fact I'm just looking at my account online and they charged me 35 quids in charges to send 6k quids here last week.

[enfield951]

Been with HSBC for years and it's definitely not free.

In fact I'm just looking at my account online and they charged me 35 quids in charges to send 6k quids here last week.

The first thing to do is open an account here with a reputable Bank, e.g Bangkok or Siam Commercial (though they all have their detractors and horror stories,as per UK).They will give you Swift Code details etc. and cash should be here within 2/3 days.

As you so rightly say make sure it is in sterling,NOT Bahts as you will get the inferior offshore rate.Which on a large sum can be disasterous !

UK banks are all much of a muchness, just check on charges, Natwest only used to be £14 up to £ 20,000, probably changed.

Good Luck

[citizen33]

Been with HSBC for years and it's definitely not free.

In fact I'm just looking at my account online and they charged me 35 quids in charges to send 6k quids here last week.

The first thing to do is open an account here with a reputable Bank, e.g Bangkok or Siam Commercial (though they all have their detractors and horror stories,as per UK).They will give you Swift Code details etc. and cash should be here within 2/3 days.

As you so rightly say make sure it is in sterling,NOT Bahts as you will get the inferior offshore rate.Which on a large sum can be disasterous !

UK banks are all much of a muchness, just check on charges, Natwest only used to be £14 up to £ 20,000, probably changed.

Good Luck

The best answer is a few posts up - use Nationwide. They offer a much better deal than the rest. In fact,I also have a Thai bank account but it is unnecessary to use this to do the currency exchange.

Edited July 5, 2008 by citizen33

[pampal]

If you open an HSBC account in your home country and one in Thailand and transfer between the two, it might be cheaper

[whitethai]

Hi there, anybody help me and fellow Brits with the cheapest way to send money to Thailand Via the UK. I read somewhere on this forum that the HSBC done it for free. However, on opening an account with them and questioning the lady, the reply was "there is charges depending on how much you send" (can't remember the charges).

-Also what banks would it be better to send the money to

-And should i tick the box to say let the UK banks charge or the Thai banks charge

I am already aware to send the money in Sterling in order to get a better exchange rate, therefore recieving more baht for the pound.

All help would be appreciated

Thank you

I am with HSBC and they charge about 2.25 per withdrawal, My wifes mother draws 5000 Baht per month using a debit card we supplied to her, from an account set up in the UK. I told HSBC that I spend alot of time in Thai so they think I am using the card. Its not too exspensive.

If you are sending money to someone in Thailand on a regular basis a popular suggested way (UK) is to open 2 accounts with Nationwide (no fees on transactions abroad) one of the accounts will have the usuall overdraft facility and a debit card etc and the other no overdraft and a cash card for withdrawells only. Send the cash card to the recipient in Thailand and then you can transfer money between the accounts online.

Trouble with Nationwide new account is___Time

You have 7 months before you can apply for the card account that does not charge for ATM withdrawals and then you have to pray they accept you.

[giruz]

You have 7 months before you can apply for the card account that does not charge for ATM withdrawals and then you have to pray they accept you.

Bullshit. Done a week ago.

Opened a joint account with my girl. We were given a cash card because they said we don't have enough credit score.

You can take money out of ATMs but you can't use the card online or in a shop.

No charge for withdrawal abroad from the beginning (this was one of the two reasons why we opened an account with them, the other one was their interest rate on ISAs)

The only annoyance is that it takes 2 weeks to receive the card.

giruzz

[Rinrada]

Been with HSBC for years and it's definitely not free.

In fact I'm just looking at my account online and they charged me 35 quids in charges to send 6k quids here last week.

Couple of years ago I used my HSBC Debit/Cash card to withdraw some dosh from their Branch in Silom (my own money ) and they charged me for the service /exchange rip off .....and as said... same Bank.

When I got back to London I asked them why ...and they couldnt believe it....eventually showed them the statement and still they were a bit confused until one guy finally mentioned that it must be some sort of arrangement that HSBC has with Thailand....but they were still not sure..........

One way or another it was Bye Bye....