Sending Gbp To Thb

[Mercury]

Obviously I have SWIFT sending GBP to be converted at the Thai bank of my choice (I have lots of accounts) at at a cost of around £20 per transaction but I was looking to see whether there are any better ways, given that GBP/THB rates are jumping around all over the place in the 45-48 range (though I appreciate that on £1000, each 1 baht swing only equates to a little over £21).

Right now, I can see 47.04875 with SCB and with a small fee of perhaps Bt250 or so, after deducting the £25 fees, the effective rate on £1000 is 45.9. So, if I could achieve a fee free transfer better than 45.9 then I'd be better off. On £2500 it reduces the rate to 46.58.

Not interested in cards whether they have ATM fees or not, just simple deposits into Thai bank accounts. Thanks.

[Chaimai]

Halifax Online charge £9.50

[Mercury]

Thanks for that but I'll perhaps qualify my request. I don't want to open a new bank account, either in the UK or overseas. I'm just wondering whether some of the FX places, either online or not can do a transaction which beats the SWIFT rates when you factor in the charges. That would be conversion at the UK end but the impact of the fees on small transfers does make quite a difference to the effective rate received.

[schmutzie]

Thanks for that but I'll perhaps qualify my request. I don't want to open a new bank account, either in the UK or overseas. I'm just wondering whether some of the FX places, either online or not can do a transaction which beats the SWIFT rates when you factor in the charges. That would be conversion at the UK end but the impact of the fees on small transfers does make quite a difference to the effective rate received.

Have you looked at Moneybookers?

[JohnnyFeelIt]

I'm just wondering whether some of the FX places, either online or not can do a transaction which beats the SWIFT rates when you factor in the charges. That would be conversion at the UK end but the impact of the fees on small transfers does make quite a difference to the effective rate received.

Not without opening an account.... lol

[melsnet]

I use www.moneycorp.com for a set monthly £1000 transfer from my UK bank a/c, usually takes 4/5 working days. The fee is £8.

For one of transfers the fee is £16.

If you are interested just go to the web site and you will find a contact link, hit the link and you will be contacted by phone for your requirements.

All very simple and all set up over the phone.

[ianguygil]

Transferring from your local UK bank to Bangkok Bank's branch in London via BACS, then BBL doing an internal transfer to your account in Bangkok would be the best approach. BACS transfers are very affordable. This is less expensive than a normal SWIFT transfer.

Details can be found at this URL on the BangkokBank.Com website:

http://www.bangkokbank.com/Bangkok%20Bank/...0from%20UK.aspx

Associated fees are clearly stated at this URL

http://www.bangkokbank.com/Bangkok%20Bank/...conditions.aspx

Good luck.

[chris5346]

hi ian,

i'm looking into transferring around £4000 and the rate has just jumped up abit so maybe i shud act sooner rather than later ?

the bangkok bank TT rate is 47.6 but they charge £20 and 200-500Baht and 0.25%.

have you used bangkok banks london branch as you suggested ? if yes how do determine fee 200-500 ?

how long did it take ? at what time did they decide what rate to use was it the final day the money goes into my account?

i think maybe it will take time for this process and the rate may worsen for me is there anythingthat i can do ?

i'm living in thailand and i have just opened a bangkok bank savings account ,

every month i have been transferring about 700 a month to live on using atm's but i think maybe i should try a different method.

i have a barclays in the uk but they charge £25 and said can take around 7 days ? to transfer GBP,

i can convert GBP to BAHT in the uk using barclays or money corp but the rate today is 46 .

please advise,

chris

[chris5346]

sorry i made a mistake - i see that they charge 0.25% (200 - 500B).

so £4000 is about 200000 B and 0.25% = 500B

looks like i'm going to get charged the maximum amount, maybe i should try and send more than 200,000

thx for looking

chris

[sarahsbloke]

try hifx.com

I use them, online use debit card to pay, they give a rate before you hit the confirm button.

No fees and if the Thai bank nick 200bht (as they often do) Hifx will refund it.

[chris5346]

hi sarah,

do you know what todays rate would be ?

can you easily check for me pls.

chris

[Penkoprod]

Halifax Online charge £9.50

Have you actually used this £9.50 service?

I have heard that, while it DOES indeed only cost the above, the downside of it is that they (the Halifax) can only process it in the currency of the country its being sent to, unless you do the transaction in the branch itself. That is....its not possible to send GBP online. In this case, Thai Baht....and we ALL know sending it in Baht a big no-no exchange rate wise.

I hear it costs a fairly standard £20 (ish) to do in branch.

Not that i am doubting you, but a little confirmation is needed, methinks

Penkoprod

[chris5346]

i phoned hifx and need to register to get accurate rate but they indicated 46.7 and they said don't chrage for sending out ?

so looks pretty good ?

only 1% less than bangkok bank swift transfer rate but gauranteed.

sounds too easy - is there anyway i can make sure it's safe ?

chris

[chris5346]

i'm totally confused now i have been sending bangkok bank in london e-mails and they are now saying this :

Dear Mr Gascoyne The best way to find out our current rates is by calling our office, this is an automated message detailing the rate. 0207 929 4422. There is a £35 pound minimum charge for amount under £6000, amounts over £6000 are charged at 0.25% at a maximum charge of £65. The webpage rates are for Thailand branches only,

i will call them and see if the rate is similar to the TT rate i was expecting,

maybe i shud just make a swift transfer ? has anyone transfered into bangkok bank or similar ? what happens exactly ?

chris

[chris5346]

well i phoned bangkok bank london and they said charges depend on how i send money to them they were taling about bacs and chaps ?and that it's cheaper to convert in london - rate of 46.7 and only a £15 charge ?

maybe because it can take 8 days for money to reach thailand and the rate may change ?

i really don't fully understand what goes on with money transfers can someone please explain in simple terms .

is there anyone who wants to send money from thailand to uk ? maybe can help each other out ?

chris