Any of you guys know what are any cheaper ways of sending money to Thailand every month. I don't have a UK bank account and therefore ATM no good. So far paid 29.50 to TSB and 42.00 to Post Office for 600 quid every month.Although Post Office is instant transfer. The Administrator for my Pension fund does not transfer money overseas and say will only send me a cheque to Thailand if I don't receive the cheque in UK and get someone to cash it for me.

Any of you guys know what are any cheaper ways of sending money to Thailand every month. I don't have a UK bank account and therefore ATM no good. So far paid 29.50 to TSB and 42.00 to Post Office for 600 quid every month.Although Post Office is instant transfer. The Administrator for my Pension fund does not transfer money overseas and say will only send me a cheque to Thailand if I don't receive the cheque in UK and get someone to cash it for me.

Why do you not have a UK account??

A Nationwide Flexaccount has to be the cheapest way of getting cash here (free ATM withdrawls).

How about one of the 'pre-pay' Visa cards?? The same someone who cashes the cheque could put the money into the account. This is just a thought that occured whilst typing, Mr Google could be useful to you.

Western Union charges £42 also. Try Onlinefx, never used them but they look cheap but they may be no good for your personal circumstances.

http://www.onlinefx.co.uk/fx/Stores/OnlineFX/imt.asp

Also have a look here this may be helpful.

http://www.workgateways.com/working-uk-moneytransfer.html

Edited May 5, 200521 yr by tso310

Theres some good details on here :

http://www.moneysavingexpert.com/cgi-bin/v...114428796,22175,

particularly about using forex brokers who will give you interbank rate and do the transfer free of charge. Would be very interested to hear from anybody who went this route.

In this article they say for small amounts paypal is the best !

If you have an address you can use in the UK get a nationwide account or get a lombard direct credit card. With credit card you pay the cash you get into the card and the u can use it in thailand - they cant charge you interest for money you have all ready given them - but best check with them that you can do that. Nationwide and Lombard direct do not have currency exchange fees or other charges for transactions in foreign currency.

Edited May 5, 200521 yr by Khun Bob

Thanks guys. I've gone through all the options suggested and still find that the bank transfer with Barclays, 28 quid, is the cheapest as the money is transferred in sterling and you get thai rates, currently 75 baht. Some look cheaper but the rates are much less and you end up paying 5% of transfer plus the fee.

Don't have UK address and they required utility bills, etc to open Nationwide account.

HSBC or Citibank may do it for less if you have an account in Thailand with them and the person at the UK end has an account with hsbc or citibank ?

If they dont you can get incentives at the moment for both these banks - i think hsbc/first direct will pay up to £35 for a new account and you can get cash back of £60 with a new citibank account

If the amount of time it takes to credit your account isn't an issue, if they're willing to send the cheque to Thailand, you could simply deposit it here.

It can take weeks (or months) for an inter-country cheque to clear, but it should be cheaper than a transfer in costs. (although if the FX rate moves against you, it can cost more than the charge...)

My Thai girlfriend has recently received some insurance payouts and cheques were sent to her drawn on a New York bank.

It cost her 400 Baht to deposit each cheque and they all cleared within 15 days. She was warned that it could take a month.

I believe that it is more common to take 4 weeks for UK cheque to clear, but is only going to cost you just over 5 pounds each time.

So as the previous poster wrote, if time is not the issue, this is the cheapest option for a cheque.

Nationwide flexaccount with ATM card the absolute best option. Can draw 20,000 Baht per day, top exchange rate, usually better than travel cheque and no fee at all.

Hope this helps

My Thai girlfriend has recently received some insurance payouts and cheques were sent to her drawn on a New York bank.

It cost her 400 Baht to deposit each cheque and they all cleared within 15 days. She was warned that it could take a month.

I believe that it is more common to take 4 weeks for UK cheque to clear,  but is only going to cost you just over 5 pounds each time.

So as the previous poster wrote, if time is not the issue, this is the cheapest option for a cheque.

Nationwide flexaccount with ATM card the absolute best option. Can draw 20,000 Baht per day, top exchange rate, usually better than travel cheque and no fee at all.

Hope this helps

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Just a thought. On renewal of a O-visa(Thai wife) you have to show funds(400k) coming in from abroad. If I were to pay this in as a UK cheque and wait for it to clear would this show up as a transfer from abroad? Anyone know the answer?

Just a thought. On renewal of a O-visa(Thai wife) you have to show funds(400k) coming in from abroad. If I were to pay this in as a UK cheque and wait for it to clear would this show up as a transfer from abroad? Anyone know the answer?

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As far as I understand, you need confirmation from your bank that the funds originated outside of Thailand and if you are paying in a foreign cheque, the bank will give you a receipt and should be able to write a letter of confirmation

It will not show in your bank passbook that the funds originated out of the country

Edited May 13, 200521 yr by loong

Hi, i'm just wondering if I were to pay a cheque in from my UK employer. Would there be any problem with that? I was under the asumption that a cheque denominated in UK pounds wouldn't be payable into a Thai savings account.

Any information is appreciated.

Hi, i'm just wondering if I were to pay a cheque in from my UK employer. Would there be any problem with that? I was under the asumption that a cheque denominated in UK pounds wouldn't be payable into a Thai savings account.

Any information is appreciated.

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As far as I can understand you can pay in any UK cheque as long as it is made payable to you. If it is in pounds will be changed and credited as Baht.

Different banks will tell you different stories.

I recently tried to pay a foreign cheque into a branch of the Bangkok bank and was told that could not do. I went to a different branch of the same bank down the road and no problem!

Hi, i'm just wondering if I were to pay a cheque in from my UK employer. Would there be any problem with that? I was under the asumption that a cheque denominated in UK pounds wouldn't be payable into a Thai savings account.

Any information is appreciated.

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As far as I can understand you can pay in any UK cheque as long as it is made payable to you. If it is in pounds will be changed and credited as Baht.

Different banks will tell you different stories.

I recently tried to pay a foreign cheque into a branch of the Bangkok bank and was told that could not do. I went to a different branch of the same bank down the road and no problem!

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In the case of Bangkok Bank only selected branch banks can deal in foreign currency so that may have been the reason. Or it could just have been the normal bank to bank difference.

Thanks for the info. I may have to try that, hopefully it will prove to be cheper than using a cash machine.

Thanks for the info. I may have to try that, hopefully it will prove to be cheper than using a cash machine.

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As mentioned previously. If you have a Nationwide account and ATM card, this is the absolute cheapest way and you get the cash instantly.

If you are looking for a good way to transfer money

I have been using Ikobo for over a year. It free to open an account

Here’s the link http://tinyurl.com/bqt4z

I don't often handle foreign cheques but remember last one I had was in UK pounds and I paid it into my acct at Bangkok Bank no trouble.

A friend of mine receives them regularly and recommends Bank of Ayudhya for clearing quickly and minimal charges. He has tried many banks.

PS To open a bank acct in UK you do not need to have a UK address but you will need proof of address in Thailand (a letter sent to your address in Thailand from some large establishment in Uk such as lawyer, bank etc should do) as well as proof of where you are staying in UK, when you are there opening the acct.

Check around for best options but most debit and ATMs should work fine here.

If you are looking for a good way to transfer money

I have been using Ikobo for over a year. It free to open an account

Here’s the  link http://tinyurl.com/bqt4z

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Wasn't there problems with this company... people not getting their money..? I'm sure I read something..

totster

Totster. Yeah, about a year ago lots of technical problems with this company, although no evidence of fraud. Not keen however to deal with company apparently coming out of the States but with Directors from Antigua, etc. Rates seem good, however.

awanx. You had any problems?

why are you sending money? Is your girlfriend's buffalo sick?

Shot all the buffalo years ago! Nowadays it's just a straight forward "send us 1000 baht for a birthday party" it's always someone's. But at least I know my wife's parents are spending it on drink and not wasting it

It seems I have been lucky with Ikobo

I did some searching it seems they have left a trail of bad reports over the past 2 years. so I have decided I will not be use Ikobo again.

But I did find this www.payzip.com

Any of you guys know what are any cheaper ways of sending money to Thailand every month. I don't have a UK bank account and therefore ATM no good. So far paid 29.50 to TSB and 42.00 to Post Office for 600 quid every month.Although Post Office is instant transfer. The Administrator for my Pension fund does not transfer money overseas and say will only send me a cheque to Thailand if I don't receive the cheque in UK and get someone to cash it for me.

I like you do not have a bank account, so i use my mums account when i need to send money. She uses natwest and they charge 15 quid and 5 days to get there. Works for me surely you have a friend with a uk account that can send on your behalf.

Reading some of the posts about ikobo from what i have read elsewhere they should be avoided like the plague. Aparently kobo is a type of currency in one of the African countries that have been sending out the 419 scams.

I am sure i have read posts on this in this forum dating quite away back so scan through the pages and read what other people are saying about them then use somebody else.

Rip off merchants by all accounts

I opened a new Flex account with Nationwide in my name. I posted the ATM card to my g/f, standard post, hidden in card so it wasn't obvious. So all I need to do is put money into this account in UK, then call her and she withdraws from ATM in Thailand.

The bank has never yet questioned why I'm living in the UK but withdrawing all my money in Thailand.

I opened a new Flex account with Nationwide in my name.  I posted the ATM card to my g/f, standard post, hidden in card so it wasn't obvious.  So all I need to do is put money into this account in UK, then call her and she withdraws from ATM in Thailand.

The bank has never yet questioned why I'm living in the UK but withdrawing all my money in Thailand.

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That sounds like a top idea! I have been pondering the best way to go about doing this, and this to me sounds like the best plan. Is there any flaws with this though? Does anybody have experience with this scenario?

Thanks for the info chaps, any more would be great

Rj

I opened a new Flex account with Nationwide in my name.  I posted the ATM card to my g/f, standard post, hidden in card so it wasn't obvious.  So all I need to do is put money into this account in UK, then call her and she withdraws from ATM in Thailand.

The bank has never yet questioned why I'm living in the UK but withdrawing all my money in Thailand.

<{POST_SNAPBACK}>

That sounds like a top idea! I have been pondering the best way to go about doing this, and this to me sounds like the best plan. Is there any flaws with this though? Does anybody have experience with this scenario?

Thanks for the info chaps, any more would be great

Rj

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I opened an account just for this purpose2 years ago and have had no problems at all. It is best to have a seperate account and only put in money as needed. Not to say you can't trust your gf, but best to be careful. If your gf lives outside of big city, not all banks will take the card though. She will have to travel to bigger city to get the cash.

I opened a new Flex account with Nationwide in my name.  I posted the ATM card to my g/f, standard post, hidden in card so it wasn't obvious.  So all I need to do is put money into this account in UK, then call her and she withdraws from ATM in Thailand.

The bank has never yet questioned why I'm living in the UK but withdrawing all my money in Thailand.

<{POST_SNAPBACK}>

That sounds like a top idea! I have been pondering the best way to go about doing this, and this to me sounds like the best plan. Is there any flaws with this though? Does anybody have experience with this scenario?

Thanks for the info chaps, any more would be great

Rj

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I opened an account just for this purpose2 years ago and have had no problems at all. It is best to have a seperate account and only put in money as needed. Not to say you can't trust your gf, but best to be careful. If your gf lives outside of big city, not all banks will take the card though. She will have to travel to bigger city to get the cash.

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She lives in Bangkok so should be okay, Thanks for your help loong.

Rj

Which is the Nationwide Flex account? I have just been on the site, as after everything i have read, i think this would suit me. However, i can only see :-CashBuilder

InvestDirect

e-Savings

Bonus Saver

Smart

Instant Access ISA

TESSA Maturity ISA

Or am i looking in the wrong place?

Mr Boj

Sorry people. I have found it now. It's a current account in the Banking section. I was looking in the savings section. Doh