How Should I Take My Money To Thailand?

[HalfSquat]

I am coming to Thailand (Bangkok) for up to two years.

I have some money in my UK bank account that I will be spending during my stay (about £2.5k).

What is the best way to bring or use this money into Thailand?

Should I change it all to bhat before I come?

Should I setup a Thai bank account then transfer it across?

I read that withdrawing money on my UK cash card at ATMs will incur quite a charge.

Would a pre-pay credit card be any use out in Thailand for making purchases and withdrawing cash or will they too incur a charge?

I will also be getting the odd payment from relatives etc, is it best they transfer the money into my UK bank account then I move it on from there or should they do a Western Union type thing?

edit: also are travellers cheques worth a punt?

I'm not sure if where I am staying will have a safe or not so storing cash might be risky.

Any tips much appreciated.

Thanks.

Edited July 26, 2009 by HalfSquat

[Soutpeel]

I have some money in my UK bank account that I will be spending during my stay (about £2.5k).

What is the best way to bring or use this money into Thailand?

Should I change it all to bhat before I come?

Should I setup a Thai bank account then transfer it across?

I read that withdrawing money on my UK cash card at ATMs will incur quite a charge.

Would a pre-pay credit card be any use out in Thailand for making purchases and withdrawing cash or will they too incur a charge?

I will also be getting the odd payment from relatives etc, is it best they transfer the money into my UK bank account then I move it on from there or should they do a Western Union type thing?

Any tips much appreciated.

Thanks.

For 2.5k GBP, I would just bring it in in cash, and change it as you need it or change it all and open a Thai account with a Thai ATM card (if you can) dont know what visa you are here on..but read up on opening a Thai Bank Acc...on future transfers just get the relative to do a SWIFT transfer direct to Thai account

Dont change in the UK and bring THB, your rate will blow...change it in Thailand

[Rinrada]

5 x £500..T/C s ...just make sure that you record the serial numbers and the companys Tel Contact details.(just in case)

Each cost about (been some time so correct me) 20 bt to change and you get a better rate for them.

Need you passport with you...

[Pushit]

I have some money in my UK bank account that I will be spending during my stay (about £2.5k).

What is the best way to bring or use this money into Thailand?

Should I change it all to bhat before I come?

Should I setup a Thai bank account then transfer it across?

I read that withdrawing money on my UK cash card at ATMs will incur quite a charge.

Would a pre-pay credit card be any use out in Thailand for making purchases and withdrawing cash or will they too incur a charge?

I will also be getting the odd payment from relatives etc, is it best they transfer the money into my UK bank account then I move it on from there or should they do a Western Union type thing?

Any tips much appreciated.

Thanks.

For 2.5k GBP, I would just bring it in in cash, and change it as you need it or change it all and open a Thai account with a Thai ATM card (if you can) dont know what visa you are here on..but read up on opening a Thai Bank Acc...on future transfers just get the relative to do a SWIFT transfer direct to Thai account

Dont change in the UK and bring THB, your rate will blow...change it in Thailand

Travellers Cheques, NOT CASH

[syd barrett]

Bring it in sterling travelers cheques.

Free at Lloyds TSB.

Otherwise get travellers cheques free at the U.K. Post Office in Euro or US$

Keep cash in hand to 250 GBP maximum.

[thesyndicate]

in your pocket, serious do not bring any money in to Thailand you will just loose it.

[capt_canada42]

I am coming to Thailand (Bangkok) for up to two years.

I have some money in my UK bank account that I will be spending during my stay (about £2.5k).

What is the best way to bring or use this money into Thailand?

Should I change it all to bhat before I come?

Should I setup a Thai bank account then transfer it across?

I read that withdrawing money on my UK cash card at ATMs will incur quite a charge.

Would a pre-pay credit card be any use out in Thailand for making purchases and withdrawing cash or will they too incur a charge?

I will also be getting the odd payment from relatives etc, is it best they transfer the money into my UK bank account then I move it on from there or should they do a Western Union type thing?

edit: also are travellers cheques worth a punt?

I'm not sure if where I am staying will have a safe or not so storing cash might be risky.

Any tips much appreciated.

Thanks.

Put your money inside your mattress then bring it with you in your luggage I did this for years now I have 20 mattress's at my house. I brought the rest of my stuff this way also sure means you have some big mattress's.

[IMA_FARANG]

Bring it in sterling travelers cheques.

Free at Lloyds TSB.

Otherwise get travellers cheques free at the U.K. Post Office in Euro or US$

Keep cash in hand to 250 GBP maximum.

I would go with the sterling tavelers checks.

If you can get them free from Lloyds check with them to see if they have a correspondent bank in Thailand. If so, you may get a slighly better rate (a smaller fee) for changing them with the Lloyds correspondent bank in Thailand vice some other Thai bank.

Bring them in the biggest amounts you can handle and change in Thailand handily. I would say at least 100 pound checks. You will be charged a fee for each check, so the bigger they are the smaler the fee will be in porportion. But also realise it may be hard to cash/exchange anything over 100 pounds to baht even at a bank. But that is your choice. I would say that 100 pound checks would be a practical choice. but you could go higher. Just realise that leving the Thai bank you will be carrying a wad of money, and there are pickpockets around.

DO NOT change your money to Baht before you leave the U.K, except for very small 'pocket money' for expenses. The UK baht rate will be much worse than you will get even at the airport in Bangkok at the money exchange counters.

If you are on a tourist visa, the Thai banks may not want to open a Thai bank account for you. Keep trying, one branch may be willing to open an account for you, while another jst a block away won't want to do it. Supposedly you need a work permit to open an account, but other banks may ignore that. TIP: the more money you have to put into tha account to open it, the more interested the Thai bank may be in opening the account for you. But if one refuses you, try another onr. In Bangkok there are a lot of banks, and many branches of each one, so keep trying until one agrees to open an account for you. get a Thai ATM card or debit card if they will let you. No fee on a Thai ATM card from that banks ATM.

Hope you enjoy Thailand.

[Hugh Jarse]

With that amount I would ::

1.

open a NAtionwide Flex account as this card carries no currency loading and there are one or 2 banks that wont charge you £3 per withdrawal (ie Bank of Ayuthea, Yellow ATM logo s)

2. Take £200 and /or £500 denomination travs, chqs. as you will only pay about 60p commision per cheque and £50 or so in cash as emergency funding,

I dont think any Thai bank will allow you to open an account unless you have a visa other than a Visitors visa.

Good luck and enjoy your stay .

[Datsun240Z]

Yes, just keep it in the UK account and accept the small charge that is raised here for an ATM withdrawel.

Edited July 26, 2009 by Datsun240Z

[Chaimai]

The equivalent of GBP 25 p.w. means that you are probably working in Bangko and this is just supplementary money.

8 ATM withdrawals will cost 1,200 Baht with a similar amount taken charges from VISA on, say, a Nationwide Flex account. In cost terms over 2 years you are looking at circa GBP 50.00 or 50p per week.. Therefore, convenience is your major consideration rather than cost.

[Khun Bob]

Bring it in sterling travelers cheques.

Free at Lloyds TSB.

Otherwise get travellers cheques free at the U.K. Post Office in Euro or US$

Keep cash in hand to 250 GBP maximum.

I would go with the sterling tavelers checks.

If you can get them free from Lloyds check with them to see if they have a correspondent bank in Thailand. If so, you may get a slighly better rate (a smaller fee) for changing them with the Lloyds correspondent bank in Thailand vice some other Thai bank.

Bring them in the biggest amounts you can handle and change in Thailand handily. I would say at least 100 pound checks. You will be charged a fee for each check, so the bigger they are the smaler the fee will be in porportion. But also realise it may be hard to cash/exchange anything over 100 pounds to baht even at a bank. But that is your choice. I would say that 100 pound checks would be a practical choice. but you could go higher. Just realise that leving the Thai bank you will be carrying a wad of money, and there are pickpockets around.

DO NOT change your money to Baht before you leave the U.K, except for very small 'pocket money' for expenses. The UK baht rate will be much worse than you will get even at the airport in Bangkok at the money exchange counters.

If you are on a tourist visa, the Thai banks may not want to open a Thai bank account for you. Keep trying, one branch may be willing to open an account for you, while another jst a block away won't want to do it. Supposedly you need a work permit to open an account, but other banks may ignore that. TIP: the more money you have to put into tha account to open it, the more interested the Thai bank may be in opening the account for you. But if one refuses you, try another onr. In Bangkok there are a lot of banks, and many branches of each one, so keep trying until one agrees to open an account for you. get a Thai ATM card or debit card if they will let you. No fee on a Thai ATM card from that banks ATM.

Hope you enjoy Thailand.

Lloyds are a correspondent bank of Kasikorn bank - which is IMHO the most foreigner friendly bank in Thailand, and is possible to get a bank account with from certain branches, which are mentioned in this forum.

Also I'm amazed to see that Lloyds are providing Trav Cheques free. Did a bit of a search and it seems they are not really talking about this :

http://www.lloydstsb.com/travel_main_page.asp

Or is is that you have a paid for or premier type account and fee free trav cheques are part of the deal ?

Cheers

Edited July 27, 2009 by Khun Bob

[cyb]

I am coming to Thailand (Bangkok) for up to two years.

I have some money in my UK bank account that I will be spending during my stay (about £2.5k).

What is the best way to bring or use this money into Thailand?

Should I change it all to bhat before I come?

Should I setup a Thai bank account then transfer it across?

I read that withdrawing money on my UK cash card at ATMs will incur quite a charge.

Would a pre-pay credit card be any use out in Thailand for making purchases and withdrawing cash or will they too incur a charge?

I will also be getting the odd payment from relatives etc, is it best they transfer the money into my UK bank account then I move it on from there or should they do a Western Union type thing?

edit: also are travellers cheques worth a punt?

I'm not sure if where I am staying will have a safe or not so storing cash might be risky.

Any tips much appreciated.

Thanks.

I hope your relatives are going to be prepared to support you in a big way. £2,500 is not going to last you very long. Having said that as someone has already said make sure you have some pocket money baht. You will get a much better exchange rate in thailand, But do not go to a travel agent to exchange your traverlers cheques a bank is better (much better rate).

Seriously if you are coming to thailand with that small amount of money make sure you have or can obtain a return ticket.

Otherwise you could end up like so many here, An over stayer with no way of paying the overstay fine or a ticket back.

[marty147]

1. Open a Nationwide Flex account as this card carries no currency loading and there are one or 2 banks that wont charge you £3 per withdrawal (ie Bank of Ayuthea, Yellow ATM logo s)

2. Take £200 and /or £500 denomination travs, chqs. as you will only pay about 60p commision per cheque and £50 or so in cash as emergency funding,

As of July 1st, Nationwide now charge a 1% fee on overseas withdrawals with a 300 pounds daily limit. In addition to the now universal 150 baht local fee, this equates to a cost of 6 pounds for every 300 pounds withdrawal :-(

High demonination TCs would be the way to go and pay the 30 baht transaction fee for each conversion - painless process, just take your passport as ID.

[gmac]

1. Open a Nationwide Flex account as this card carries no currency loading and there are one or 2 banks that wont charge you £3 per withdrawal (ie Bank of Ayuthea, Yellow ATM logo s)

2. Take £200 and /or £500 denomination travs, chqs. as you will only pay about 60p commision per cheque and £50 or so in cash as emergency funding,

As of July 1st, Nationwide now charge a 1% fee on overseas withdrawals with a 300 pounds daily limit. In addition to the now universal 150 baht local fee, this equates to a cost of 6 pounds for every 300 pounds withdrawal :-(

High demonination TCs would be the way to go and pay the 30 baht transaction fee for each conversion - painless process, just take your passport as ID.

The local fee of 150 Baht is only charged on ATM withdrawals. If you go to a bank exchange counter the fee does not apply, just present bank visa card and passport and you can draw up to your account balance subject to local restrictions. (The booth I use limits it to 100,000 Baht per transaction)

[Chaimai]

1. Open a Nationwide Flex account as this card carries no currency loading and there are one or 2 banks that wont charge you £3 per withdrawal (ie Bank of Ayuthea, Yellow ATM logo s)

2. Take £200 and /or £500 denomination travs, chqs. as you will only pay about 60p commision per cheque and £50 or so in cash as emergency funding,

As of July 1st, Nationwide now charge a 1% fee on overseas withdrawals with a 300 pounds daily limit. In addition to the now universal 150 baht local fee, this equates to a cost of 6 pounds for every 300 pounds withdrawal :-(

High demonination TCs would be the way to go and pay the 30 baht transaction fee for each conversion - painless process, just take your passport as ID.

This is not correct

not a huge difference but the VISA charge increase from 0.84% was never implemented, from Nationwide website:-

"The Visa fee increase to 1% scheduled for 1 July will no longer take place and the fee will remain at 0.84%. Consequently Nationwide will also keep the fee at 0.84%".

[maechanman]

With that amount I would ::

1.

open a NAtionwide Flex account as this card carries no currency loading and there are one or 2 banks that wont charge you £3 per withdrawal (ie Bank of Ayuthea, Yellow ATM logo s)

2. Take £200 and /or £500 denomination travs, chqs. as you will only pay about 60p commision per cheque and £50 or so in cash as emergency funding,

I dont think any Thai bank will allow you to open an account unless you have a visa other than a Visitors visa.

Good luck and enjoy your stay .

Travellers cheques from Lloyds TSB are the way to go,free commision,their largest cheques are £200.

[jumparound]

Cash in your sock is a great place.

Just dont forget its there.

[HalfSquat]

Cheers people.

I am coming on a non-imm o visa. Will they let me have a bank account?

Not sure if I will be working or not. Hopefully but you never know.

Travellers cheques sounds the most cheapest with a small wedge for early days spending money.

[thaicbr]

Halfsquat. I hope you are getting a 12mth multi entry from Hull. Do not use the embassy in London. If you go to a tourist place like HuaHin then its very easy to get a bank account opened. I'm guessing but if your just bringing 2,500 quid (135,000b) over with ya then you are going to be finding a job. Welcome to the Teaching world.

[ged]

I opened an account with Bangkok bank and all I had was a 30 day tourist visa.

If you get a Nationwide Cashcard, not a flex account card, the charges are still zero.

[HalfSquat]

Halfsquat. I hope you are getting a 12mth multi entry from Hull. Do not use the embassy in London. If you go to a tourist place like HuaHin then its very easy to get a bank account opened. I'm guessing but if your just bringing 2,500 quid (135,000b) over with ya then you are going to be finding a job. Welcome to the Teaching world.

I got it from Brum in the end.

Still haven't got a bank account but my girlfriend is letting me use hers. Not sure how much it will cost to transfer money from a UK account to a Thai one.

I brought 500 quid over in baht but have still got some left so its not been a problem so far.

Haven't got a job either yet!