Slowest Method To Transfer Money From Uk

[jeabing]

Does anybody know the slowest and therefore presumably the cheapest way of transferring a personal pension from a UK pensions company (Legal and General) to a Thai bank account?

I understand that I can directly communicate with my pension provider but they can be sometimes very slow in replying and telephone communication can be pretty much the same.

Perhaps somebody on the forum can help.

[Springman]

Does anybody know the slowest and therefore presumably the cheapest way of transferring a personal pension from a UK pensions company (Legal and General) to a Thai bank account?

I understand that I can directly communicate with my pension provider but they can be sometimes very slow in replying and telephone communication can be pretty much the same.

Perhaps somebody on the forum can help.

[Springman]

Does anybody know the slowest and therefore presumably the cheapest way of transferring a personal pension from a UK pensions company (Legal and General) to a Thai bank account?

I understand that I can directly communicate with my pension provider but they can be sometimes very slow in replying and telephone communication can be pretty much the same.

Perhaps somebody on the forum can help.

I have pensions into Nationwide in the UK then pull it out of the ATM no charges are made by either bank.Hope this helps all transactions are instant.

[jeabing]

Thank you but my question was transferring the money from a PENSIONS PROVIDER COMPANY (not a bank) to a Thai bank, the slowest and cheapest way possible, i.e. avoiding a UK bank.

[macduff]

Try the icelandic pension provider company

[Chaimai]

Thank you but my question was transferring the money from a PENSIONS PROVIDER COMPANY (not a bank) to a Thai bank, the slowest and cheapest way possible, i.e. avoiding a UK bank.

If it is a UK pension you cannot avoid a UK bank - even L & G have to have a bank account !!

I am sure someone somewhere may have money sent each month direct to a Thai bank (although frankly I doubt it because the originator would not be arsed and in any event would deduct costs - a friendly ex-employer might but a financial institution would find enough barriers) but the significant majority will have it paid into a UK bank, or an offshore Sterling account.

It is from THERE that you want to listen to advice and Springman is spot on.

[PattayaParent]

Can they send you a cheque direct to your Thai addresss so you can put it into the bank?

However you may have problems, and additional charges, in the Thai bank cashing it? It would definitely be slow.

The best slowest way I guess would be for the pension provider to pay it to your UK bank and you have your UK bank send you a cheque in Thai Baht. But then you'll lose on exchange rates and it still won't be the cheapest way.

[jeabing]

Although it was a simple question, admittedly I should have said the slowest way possible from the BANK of my UK pensions provider to a Thai bank.

I did not ask for the quickest way, I am already aware of this.

I have today spoken to L and G and they are able to transfer my pension from their bank to my Thai bank for a charge of seven pounds which is deducted each month from my salary. The transfer will take approx 7 to 10 working days.

I now consider the matter closed.

[Chaimai]

I have today spoken to L and G and they are able to transfer my pension from their bank to my Thai bank for a charge of seven pounds which is deducted each month from my salary. The transfer will take approx 7 to 10 working days.

I now consider the matter closed.

jeabing - the £7 seem very reasonable. They are obviously remitting in Sterling so I guess the only possible downside is that you lose control over WHEN you convert GBP to Baht - assuming that the funds are going straight into you Baht account.

Hope it works out well for you, I would seriously consider the same process for my pension payments in dur course. In the meantime, back to the Nationwide ATM card.

[jeabing]

Yes, I hope it works out ok.

I will keep you informed once the transfer has been set up.

[hyperdimension]

Slow doesn't equate to cheapest.

You could open a Nationwide account and get the pension provider to transfer the money into it.

Nationwide do not charge fees when you use their ATM card to withdraw from Thai ATMs.

So the transfer would happen instantly from your UK bank account into your hand, at no or little cost.

The Thai bank may charge 20 baht per withdrawal but that's relatively insignificant compared to your stated 7 pounds.