Transferring Money From Uk Banks To Los....

[The Mask]

I am currently debating whether to transfer some funds from my UK bank account to my thai bank account or just take the money over in cash - i would prefer to transfer it as I dont like carrying wads of cash for obvious reasons.

Does anyone here know what exchange rate I would get if I transferred it from natwest and what the transfer charges would be?, I know that if i take cash and change it in LOS i will get between 73-75.

Any advice would be appreciated.

[Thaipwriter]

I am currently debating whether to transfer some funds from my UK bank account to my thai bank account or just take the money over in cash - i would prefer to transfer it as I dont like carrying wads of cash for obvious reasons.

            Does anyone here know what exchange rate I would get if I transferred it from natwest and what the transfer charges would be?, I know that if i take cash and change it in LOS i will get between 73-75.

            Any advice would be appreciated.

best way is a CHAPS transfer, all UK banks will do this, i think NATWEST have something called a INternational saver transfer that costs about 13 GBP, this is way cheaper than anybody else. Barclays, TSB etc etc all charge about 25-30 GBP

all you need is the acc number of you thai account along with the SWIFT code for you branch and the postal address, it can take 2 weeks for your money to show up athough i have done 5 CHAPS transfers this year and most took 4 working days

the rate you will get depends on the TT (telegraphic transfer) rate advertised on the day. I use here as a guide.

http://www.krungsri.com/eng/50/511.asp

its about 73 now, it dipped recentley due to the bombings and will rise back up to about 75 in a week or so....me reckons look for the T/T column this is the rate you will get for CHAPS transfer

i think you would struggle to get 73- to 75 for a cash change right now...today is 71.11.

good luck.

Edited August 5, 2005 by Thaipwriter

[Sunny Valentine]

As a rule of thumb, you get around 1 Baht more for the Pound for TT than for cash. The Thai Bank cuts around 500 Bt (max, less for smaller amounts ie under 100000 Bt), and UK Banks charge 10-25 PST for their service, also depending on the amount.

So, with 5000 Pound, you get 5000 Bt more, but spend 500 (Thai Bank) and around 1500 Bt (20 Pound UK fee).

Result: You gain 3000 Bt.

The more you transfer, the better it gets.

For amounts of 100 or 200 Pounds, cash is definitely better!

Sunny

[The Mask]

Thanks for the info, very helpful. I guess its best to transfer the money as sterling to get the best rate and not get the UK bank to convert it to Baht first.

As a rule of thumb, you get around 1 Baht more for the Pound for TT than for cash. The Thai Bank cuts around 500 Bt (max, less for smaller amounts ie under 100000 Bt), and UK Banks charge 10-25 PST for their service, also depending on the amount.

So, with 5000 Pound, you get 5000 Bt more, but spend 500 (Thai Bank) and around 1500 Bt (20 Pound UK fee).

Result: You gain 3000 Bt.

The more you transfer, the better it gets.

For amounts of 100 or 200 Pounds, cash is definitely better!

Sunny

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