Sending Money To Thailand From The Uk

[slippery when wet]

Hello everyone.

I need to send a small amount of money to Thailand.

Can anyone tell me what is the most econimical way of doing this.

I have considered paypal, bank transfer or western union but not sure what is the best....thanks

[bangkockney]

TT is my preferred method as it is the most economical.

[longstebe]

It depends how much your sending. I think Western union is a percentage were a intl wire transfer is a fixed rate.

[jaiyenyen]

I used to do it by SWIFT transfer from my bank in England.

It cost a flat rate, I seem to remember around £20, and took around 1-2 days.

[britmaveric]

moneygram perhaps?

[yeesipha]

western union , for sending small amounts,sending up to £100 will cost £9.80.The person can collect money in a matter of minutes.Weston union rate today =45.758989 bt to the £1.00.

Its convenient if the person needs the money asap.

[Thongkorn]

Been there done that ?. for small amounts Western Union. The bank is no cheaper and it takes longer, western union maybe a little bit more expensive but it is nearly instant, the person the other end can get the money within hours,

[dmax]

if its a small amount to a g/f on a regular basis why not get 2 atm cards from uk and give her one of them to withdraw when she needs a little cash, just a thought

[moe666]

if its a small amount to a g/f on a regular basis why not get 2 atm cards from uk and give her one of them to withdraw when she needs a little cash, just a thought

Do you trust her

[changnaam]

I used to do it by SWIFT transfer from my bank in England.

It cost a flat rate, I seem to remember around £20, and took around 1-2 days.

I do a monthly SWIFT and the cost has gone up recently. From the offhshore (Isle Of Man) bank £15, now another £20 each month levied by Bangkok Bank for the incoming transfer. Does anyone know if all banks have the incoming charge as well?

Thanks

[longstebe]

I think you will find they skim 1 or 2 hundered baht off each incoming intl wire transfer.

[astral]

Watch out on the charges.

My UK bank asks if I want to pay their charges and the receiving bank charges.

I used to say I would pay both, until I realised that the receiving bank was also charging me.

I now tick the box for the UK charges only.

[jollygreengiant]

I send via this service, I have been very impressed much cheaper than Western Union and Moneygram.

http://www.caxtonfx.com/

The registration process is a bit more involved and it takes a day or so to set up, but if you are going to send more than once, which you probably will whether you know it or not at the moment! its well worth it and you can do it online :-)

Cheers

Paul

Edited October 18, 2010 by jollygreengiant

[travelmann]

How MUCH is a small amount????

[Carlouchka]

I regularly send money to the UK, so I've set up Internet banking with my bank (Kasikorn), and I also needed to get a K-Web shopping card, set up a Thai Pay Pal and I send the money to the other person's paypal. The charges are next to nothing, it's the cheapest way I've found!

[campbells12345]

I used to do it by SWIFT transfer from my bank in England.

It cost a flat rate, I seem to remember around £20, and took around 1-2 days.

I do a monthly SWIFT and the cost has gone up recently. From the offhshore (Isle Of Man) bank £15, now another £20 each month levied by Bangkok Bank for the incoming transfer. Does anyone know if all banks have the incoming charge as well?

Thanks

I do an online transfer from my Isle of Man Lloyds offshore account via internet banking to Bangkok Bank in London via an acount they have set up for anyone to do this - they know its you as your reference on the payment is your BB Thai account number, they then forward it on to my Bangkok Bank Thai account. There is no charge from Lloyds to transfer to BB London as done through the UK banking system. BB London take £15 out of the sterling I send and then transfer to BB Thailand, it then gets converted to Baht in Thailand at the days local bank Thai rate....overall cost is only £15 and its really easy to do- they do not levy any charge when it arrives in Thailand as its taken in London. It takes around 7 days - I dont need to speak to anybody to do this transaction. The details of how to do it are on the BB London website - been using this for months and can only sing praise for how good it is with a decent rate...

[bigneilo]

I use a pre-paid credit card ( escape but there are many different types) i paid £5.00 for the card which my wife holds and i can load it with cash online anywhere in the world. ideal for small amounts. its free to load with cash but they charge £2.00 every time the card is used at an atm, also the thai bank charge 150 baht. can draw £300 a day max and card account can have a maximum £3000 in it.

[Kwasaki]

Cheapest way like the guy before said two debit cards give the thai person one, if it's UK Nationwide Building Society charge is nothing and 150 bath from ATM's Thailand but Zero again if they are able to have access to Aeon ATM machine.

l think l will save this post on Micro/word because of the same type of post comes up time after time.

[TheyCallmeScooter]

I'm struggling to see how a Virtual VISA wouldn't be the best option...?

http://www.virtualvcard.com.au/HowItWorks.aspx

[citizen33]

I see that few have been following the many threads on this topic in the Banking section, and that there is a lot of misinformation in earlier posts. Nationwide was the best way to go, but becomes significantly more expensive from November 1st 2010. Two of the best current options are:

1. Halifax Reward current account online Swift transfer at £9.50 (with £5 'reward' off if you pay £1000 into the account in a month and I think also a £2 off special offer on first three transactions). Remember to send cash in baht to do currency exchange at Thai end.

2. Metro Bank ATM card - similar to old Nationwide deal but Mastercard rather than Visa. Use Aeon ATMs in Thailand to avoid 150 baht ATM charge. Google 'Metro bank' or see threads in Banking.

Have tried the first but not the second.

[cardholder]

I see that few have been following the many threads on this topic in the Banking section, and that there is a lot of misinformation in earlier posts. Nationwide was the best way to go, but becomes significantly more expensive from November 1st 2010. Two of the best current options are:

1. Halifax Reward current account online Swift transfer at £9.50 (with £5 'reward' off if you pay £1000 into the account in a month and I think also a £2 off special offer on first three transactions). Remember to send cash in baht to do currency exchange at Thai end.

2. Metro Bank ATM card - similar to old Nationwide deal but Mastercard rather than Visa. Use Aeon ATMs in Thailand to avoid 150 baht ATM charge. Google 'Metro bank' or see threads in Banking.

Have tried the first but not the second.

I use number 1 and I think think citizen means tick the "send Sterling" so your money gets converted to Thai Baht at the Thai end. Better rates etc.

[changnaam]

I used to do it by SWIFT transfer from my bank in England.

It cost a flat rate, I seem to remember around £20, and took around 1-2 days.

I do a monthly SWIFT and the cost has gone up recently. From the offhshore (Isle Of Man) bank £15, now another £20 each month levied by Bangkok Bank for the incoming transfer. Does anyone know if all banks have the incoming charge as well?

Thanks

I do an online transfer from my Isle of Man Lloyds offshore account via internet banking to Bangkok Bank in London via an acount they have set up for anyone to do this - they know its you as your reference on the payment is your BB Thai account number, they then forward it on to my Bangkok Bank Thai account. There is no charge from Lloyds to transfer to BB London as done through the UK banking system. BB London take £15 out of the sterling I send and then transfer to BB Thailand, it then gets converted to Baht in Thailand at the days local bank Thai rate....overall cost is only £15 and its really easy to do- they do not levy any charge when it arrives in Thailand as its taken in London. It takes around 7 days - I dont need to speak to anybody to do this transaction. The details of how to do it are on the BB London website - been using this for months and can only sing praise for how good it is with a decent rate...

Thanks for that, will try it next month.

[briley]

I do an online transfer from my Isle of Man Lloyds offshore account via internet banking to Bangkok Bank in London via an acount they have set up for anyone to do this - they know its you as your reference on the payment is your BB Thai account number, they then forward it on to my Bangkok Bank Thai account. There is no charge from Lloyds to transfer to BB London as done through the UK banking system. BB London take £15 out of the sterling I send and then transfer to BB Thailand, it then gets converted to Baht in Thailand at the days local bank Thai rate....overall cost is only £15 and its really easy to do- they do not levy any charge when it arrives in Thailand as its taken in London. It takes around 7 days - I dont need to speak to anybody to do this transaction. The details of how to do it are on the BB London website - been using this for months and can only sing praise for how good it is with a decent rate...

Thanks for that, will try it next month.

I phoned London Bangkok bank a couple of days ago and seemed to get told,

If you use the £15 option, transfer into Baht in London then the London exchange rate was 46.3 baht.

If you use the £20 option, plus up to 500 Baht in Thailand and transfer in GBP then you get Bangkok rate that was 47.05 baht.

Does seem if you transfer enough it is better to transfer in GBP, if only a small amount the transfer in Baht. I'm giving it a go at the moment but transferring in GBP as it is a £5,000 transfer and the better exchange rate saves me about £75 or so.

PS - How long does the transfer take? I started it on Monday, when does my BKK account get credited?????

[cardholder]

I do an online transfer from my Isle of Man Lloyds offshore account via internet banking to Bangkok Bank in London via an acount they have set up for anyone to do this - they know its you as your reference on the payment is your BB Thai account number, they then forward it on to my Bangkok Bank Thai account. There is no charge from Lloyds to transfer to BB London as done through the UK banking system. BB London take £15 out of the sterling I send and then transfer to BB Thailand, it then gets converted to Baht in Thailand at the days local bank Thai rate....overall cost is only £15 and its really easy to do- they do not levy any charge when it arrives in Thailand as its taken in London. It takes around 7 days - I dont need to speak to anybody to do this transaction. The details of how to do it are on the BB London website - been using this for months and can only sing praise for how good it is with a decent rate...

Thanks for that, will try it next month.

I phoned London Bangkok bank a couple of days ago and seemed to get told,

If you use the £15 option, transfer into Baht in London then the London exchange rate was 46.3 baht.

If you use the £20 option, plus up to 500 Baht in Thailand and transfer in GBP then you get Bangkok rate that was 47.05 baht.

Does seem if you transfer enough it is better to transfer in GBP, if only a small amount the transfer in Baht. I'm giving it a go at the moment but transferring in GBP as it is a £5,000 transfer and the better exchange rate saves me about £75 or so.

PS - How long does the transfer take? I started it on Monday, when does my BKK account get credited?????

There are, indeed, other threads on this subject with good input from a BKB employee - member ianguygil - I am sure he will give advice if you send PM..

Please be sure to remit via BACS from your UK bank to BKB London (one poster was misinformed and the transfer went by CHAPS at GBP 20+).

Assuming the BACS payment is picked up under the FPS (faster payment system) then it will be same day LTSB to BKB. Should then be next day with BKB. This timing certainly works for me going Halifax to Kasikorn as long as I am fairly early in day 1 with the Halifax online instruction.

Edited October 20, 2010 by cardholder

[kevkev1888]

Cheapest way like the guy before said two debit cards give the thai person one, if it's UK Nationwide Building Society charge is nothing and 150 bath from ATM's Thailand but Zero again if they are able to have access to Aeon ATM machine.

l think l will save this post on Micro/word because of the same type of post comes up time after time.

Don't bother saving it.

Your info is out of date.

Natiowide currently charge 1%.

As from 1st November their charges will go up to 2% plus £1 per withdrawal.

so even if you use Aeon a 10k baht withdrawal will cost you about 250 baht or £5 use any other ATM add 150 baht or £3.

I have registered with a company called HiFX after seeing them recommended on another thread.

Can't comment on them yet as have not used yet, but as of next month I am gona start just sending a months money in one go with them.

Shame as the Nationwide has been the perfect answer until now and as you say was at one time completely free.

I think they started charging 1% about 6 months ago, this I could still live with, but now 2%+ no more.

Sad fact is, and as they are quick to point out even at their new rates they are the cheapest in the market.

I HATE BANKS!!!!! BANKERS!!!!

Edited October 20, 2010 by kevkev1888

[Steve&mem]

From an Ex Nationwide Card user,

I have just set up a Halifax Acc for the purpose of transferring money online to Kasikorn Bank Thailand.

So a question for those of you who have done it.

When I tried to input the BIC Code it would not accept it, I had to type the full bank address. Is this normal or have I got the wrong BIC Code….. TFBSTBK

I sent £50 in GBP as a test yesterday and it cost me £9.50

If it turns up we will see what exchange rate I got.

[jollygreengiant]

As posted above I use

https://www.caxtonfx.com/online_payment/fastpaydemo.asp

and as far as I can see they don't charge me anyhting.

I think the minimum send is 100 pounds or something like that.

I assume they make moeny out of the exhcange rate, which always seams better than western union / money gram anyway!

What I don't know if there are any charges for reviving on the thai end. I think she would have told me if there were

If you are regularly sending amounts above the min limit I would definitely give them a call.

When someone recomended them to me I thought what's the catch but so far I have not not found one!

Cheers

p

PS I have no connection to this company other than I am one of their happy customers!

[cardholder]

From an Ex Nationwide Card user,

I have just set up a Halifax Acc for the purpose of transferring money online to Kasikorn Bank Thailand.

So a question for those of you who have done it.

When I tried to input the BIC Code it would not accept it, I had to type the full bank address. Is this normal or have I got the wrong BIC Code….. TFBSTBK

I sent £50 in GBP as a test yesterday and it cost me £9.50

If it turns up we will see what exchange rate I got.

Use SWIFT code KASITHBK

[Steve&mem]

From an Ex Nationwide Card user,

I have just set up a Halifax Acc for the purpose of transferring money online to Kasikorn Bank Thailand.

So a question for those of you who have done it.

When I tried to input the BIC Code it would not accept it, I had to type the full bank address. Is this normal or have I got the wrong BIC Code….. TFBSTBK

I sent £50 in GBP as a test yesterday and it cost me £9.50

If it turns up we will see what exchange rate I got.

Use SWIFT code KASITHBK

Many Thanks :jap: