nong38 Posted March 16, 2011 Share Posted March 16, 2011 (edited) I want to transfer some funds into a Thai Bank(my own account) about 35-40K to fund a property purchase. Does anyonw have any thoughts about they ways to do it an involved cost? I could do a bank to bank transfer and at the Uk end looking at fee of about 20gbp and then a figure I have seen at Krungsri for their part of the deal is .25% which looks like a total of around 6000bts. If I brought the cheque myself could save myself the UK fee and wait a month for the clearance and likely still have to pay the .25% around 5000bts.The month wait is not a problem. Any other options or thoughts. Thanks Edited March 16, 2011 by nong38 Link to comment Share on other sites More sharing options...
Daveroc Posted March 16, 2011 Share Posted March 16, 2011 The fastest and arguably the smoothest appraoch is to arrange the transfer Bank to Bank via the SWIFT system. I would recheck the commission charge that you have quoted at the Thai end of the deal. For instance Bangkok Bank has a .25% charge with a maximum of 500 baht. The stg amount quoted is pretty standard If the money is being brought in for property purchase, ensure that this is mentioned in the Transfer and obtain a Exchange Transfer Form from your Thai Bank when the funds arrive. You will need to show evidence that you brought money in to buy the property should you later sell it and want to send the money back offshore. Link to comment Share on other sites More sharing options...
CharlieH Posted March 16, 2011 Share Posted March 16, 2011 What I usually do is move the money from UK account into Bangkok Bank London, then they transfer it to Bangkok Bank Thailand, total fees £20. As stated Bangkok bank is max 500 baht when money comes into Thailand. Takes 5 days from start to finish. Link to comment Share on other sites More sharing options...
tomallison Posted March 16, 2011 Share Posted March 16, 2011 What I usually do is move the money from UK account into Bangkok Bank London, then they transfer it to Bangkok Bank Thailand, total fees £20. As stated Bangkok bank is max 500 baht when money comes into Thailand. Takes 5 days from start to finish. It depends on the UK bank and arrangements you have set-up with them. I can arrange a SWIFT transfer, via internet banking, cost 20 pounds, to my Bangkok Bank. The money is in my account the next day. Link to comment Share on other sites More sharing options...
CharlieH Posted March 16, 2011 Share Posted March 16, 2011 What I usually do is move the money from UK account into Bangkok Bank London, then they transfer it to Bangkok Bank Thailand, total fees £20. As stated Bangkok bank is max 500 baht when money comes into Thailand. Takes 5 days from start to finish. It depends on the UK bank and arrangements you have set-up with them. I can arrange a SWIFT transfer, via internet banking, cost 20 pounds, to my Bangkok Bank. The money is in my account the next day. tomallison Which banks in Uk / Thailand are using please ? thats extremely quick to be done "next day", .............. thanks in advance for the info Link to comment Share on other sites More sharing options...
tomallison Posted March 16, 2011 Share Posted March 16, 2011 Nationwide International Link to comment Share on other sites More sharing options...
Daveroc Posted March 16, 2011 Share Posted March 16, 2011 All major Banks should be in position to complete a transfer within the 24/48 hour timeframe from the time they receive your complete instructions to make the transfer. If the Bank is a smaller entity at either end of the transaction, a further day may be required in order to route the transaction through a bank that all parties have arrangements with. Link to comment Share on other sites More sharing options...
cardholder Posted March 16, 2011 Share Posted March 16, 2011 What I usually do is move the money from UK account into Bangkok Bank London, then they transfer it to Bangkok Bank Thailand, total fees £20. As stated Bangkok bank is max 500 baht when money comes into Thailand. Takes 5 days from start to finish. It depends on the UK bank and arrangements you have set-up with them. I can arrange a SWIFT transfer, via internet banking, cost 20 pounds, to my Bangkok Bank. The money is in my account the next day. tomallison Which banks in Uk / Thailand are using please ? thats extremely quick to be done "next day", .............. thanks in advance for the info I have experienced SAME DAY with Halifax Online to Kasikorn Bank - the normal timescale is next day. GBP 9.50 with Halifax. To the OP - What you propose is sound enough. A SWIFT instruction to your own bank to remit STERLING to your Bank of Ayudyha account. I agree that Krungsri (Bank of Aydyha) will have a 'capped' charge for receiving the funds - circa 500 Baht at a guess. If you are buying a condo, mark the reason for transfer as "Purchase of condo at........". Link to comment Share on other sites More sharing options...
Sophon Posted March 16, 2011 Share Posted March 16, 2011 I agree that Krungsri (Bank of Aydyha) will have a 'capped' charge for receiving the funds - circa 500 Baht at a guess. According to Bank of Ayudhya's website the fee for an incoming international SWIFT transfer is: • 0.25% of the transferred amount, a minimum of THB200 and a maximum of THB500 per transaction. • In the event that the fund recipient’s account is located outside of our clearing zone (Greater Bangkok Area) or in provinces other than Bangkok, an additional communication fee of THB20 per transaction will apply. Which is more or less standard for Thai banks. Sophon Link to comment Share on other sites More sharing options...
msg362 Posted March 17, 2011 Share Posted March 17, 2011 (edited) What I usually do is move the money from UK account into Bangkok Bank London, then they transfer it to Bangkok Bank Thailand, total fees £20. As stated Bangkok bank is max 500 baht when money comes into Thailand. Takes 5 days from start to finish. It depends on the UK bank and arrangements you have set-up with them. I can arrange a SWIFT transfer, via internet banking, cost 20 pounds, to my Bangkok Bank. The money is in my account the next day. tomallison Which banks in Uk / Thailand are using please ? thats extremely quick to be done "next day", .............. thanks in advance for the info SWIFT just transferred 15K GBP from 1st Direct by swift. Phoned 5.00pm Monday ( 10.00 am UK) cost £25. Arrived in my BKK account next day ( Tuesday) at an exchange rate of 48.6 Seemed to be no charge at BKK and their rate is far better than the UK Edited March 17, 2011 by msg362 Link to comment Share on other sites More sharing options...
nong38 Posted March 17, 2011 Author Share Posted March 17, 2011 (edited) Thanks for your information, I will look more closely at the website words next time but was charged about 350bts to clear a cheque for 1k last year so was preparing for the worst! Now I need to get the SWIFT code for my bank, does anyone know what it looks like so I can see if I am being given the right infornation? Have emailed Bank of Ayudyah, no response yet maybe its to do with school holidays or they have to look through the bins to find it! Edited March 17, 2011 by nong38 Link to comment Share on other sites More sharing options...
cardholder Posted March 17, 2011 Share Posted March 17, 2011 What I usually do is move the money from UK account into Bangkok Bank London, then they transfer it to Bangkok Bank Thailand, total fees £20. As stated Bangkok bank is max 500 baht when money comes into Thailand. Takes 5 days from start to finish. It depends on the UK bank and arrangements you have set-up with them. I can arrange a SWIFT transfer, via internet banking, cost 20 pounds, to my Bangkok Bank. The money is in my account the next day. tomallison Which banks in Uk / Thailand are using please ? thats extremely quick to be done "next day", .............. thanks in advance for the info SWIFT just transferred 15K GBP from 1st Direct by swift. Phoned 5.00pm Monday ( 10.00 am UK) cost £25. Arrived in my BKK account next day ( Tuesday) at an exchange rate of 48.6 Seemed to be no charge at BKK and their rate is far better than the UK There will be a charge for handling the incoming funds - it looks fairly standard across the banks - 0.25% min 200 Baht, maximum 500 baht + 20 Baht. I never get a breakdown from Kasikorn but I know what their charges are and the net rate received reflects these. The headline rate can be taken from their website. You make a good point that is worth reiterating again and again - send STERLING from your home country, you will get a better rate on receipt in Thailand. Link to comment Share on other sites More sharing options...
msg362 Posted March 17, 2011 Share Posted March 17, 2011 Thanks for your information, I will look more closely at the website words next time but was charged about 350bts to clear a cheque for 1k last year so was preparing for the worst! Now I need to get the SWIFT code for my bank, does anyone know what it looks like so I can see if I am being given the right infornation? Have emailed Bank of Ayudyah, no response yet maybe its to do with school holidays or they have to look through the bins to find it! Can't remember mine exactly, but it's about 6 letters, something like'BKK BKK' for a Bangkok bank Link to comment Share on other sites More sharing options...
ianguygil Posted March 17, 2011 Share Posted March 17, 2011 Thanks for your information, I will look more closely at the website words next time but was charged about 350bts to clear a cheque for 1k last year so was preparing for the worst! Now I need to get the SWIFT code for my bank, does anyone know what it looks like so I can see if I am being given the right infornation? Have emailed Bank of Ayudyah, no response yet maybe its to do with school holidays or they have to look through the bins to find it! Can't remember mine exactly, but it's about 6 letters, something like'BKK BKK' for a Bangkok bank BKKBTHBK http://www.bangkokbank.com/bangkok%20bank/personal%20banking/transfering%20funds/pages/faqs%20for%20funds%20transfer.aspx Link to comment Share on other sites More sharing options...
Daveroc Posted March 17, 2011 Share Posted March 17, 2011 Thanks for your information, I will look more closely at the website words next time but was charged about 350bts to clear a cheque for 1k last year so was preparing for the worst! Now I need to get the SWIFT code for my bank, does anyone know what it looks like so I can see if I am being given the right infornation? Have emailed Bank of Ayudyah, no response yet maybe its to do with school holidays or they have to look through the bins to find it! Bank of Ayudhya SWIFT code is AYUDTHBK Link to comment Share on other sites More sharing options...
nong38 Posted March 17, 2011 Author Share Posted March 17, 2011 Thanks for your information, I will look more closely at the website words next time but was charged about 350bts to clear a cheque for 1k last year so was preparing for the worst! Now I need to get the SWIFT code for my bank, does anyone know what it looks like so I can see if I am being given the right infornation? Have emailed Bank of Ayudyah, no response yet maybe its to do with school holidays or they have to look through the bins to find it! Can't remember mine exactly, but it's about 6 letters, something like'BKK BKK' for a Bangkok bank BKKBTHBK http://www.bangkokba...20transfer.aspx Thanks for that, when I asked locally I think they mis understood and gave me my account number now I have a better idea. Link to comment Share on other sites More sharing options...
nong38 Posted March 17, 2011 Author Share Posted March 17, 2011 Thanks for your information, I will look more closely at the website words next time but was charged about 350bts to clear a cheque for 1k last year so was preparing for the worst! Now I need to get the SWIFT code for my bank, does anyone know what it looks like so I can see if I am being given the right infornation? Have emailed Bank of Ayudyah, no response yet maybe its to do with school holidays or they have to look through the bins to find it! Bank of Ayudhya SWIFT code is AYUDTHBK Thanks for that also, so that with my account number should do the trick. Thanks to all for helping me through a new experience. Link to comment Share on other sites More sharing options...
cardholder Posted March 17, 2011 Share Posted March 17, 2011 Thanks for your information, I will look more closely at the website words next time but was charged about 350bts to clear a cheque for 1k last year so was preparing for the worst! Now I need to get the SWIFT code for my bank, does anyone know what it looks like so I can see if I am being given the right infornation? Have emailed Bank of Ayudyah, no response yet maybe its to do with school holidays or they have to look through the bins to find it! Can't remember mine exactly, but it's about 6 letters, something like'BKK BKK' for a Bangkok bank From an earlier thread:- Bangkok Bank: http://www.bangkokbank.com SWIFT: BKKBTHBK Bank of Ayudhya: http://www.krungsri.com SWIFT: AYUDTHBK Bank of Thailand (Centralbank): http://www.bot.or.th Citibank: http://www.citibank.co.th SWIFT: CITITHBX Government Housing Bank: http://www.ghb.co.th Government Savings Bank: http://www.gsb.or.th SWIFT: GSBATHB1 Kasikorn Bank: http://www.kasikornbank.com SWIFT: KASITHBK Krung Thai Bank PCL: http://www.ktb.co.th SWIFT: KRTHTHBK SIAM CITY BANK: http://www.scib.co.th SWIFT: SITYTHBK Siam Commercial Bank: http://www.scb.co.th SWIFT: SICOTHBK Thai Military Bank: http://www.tmb.co.th SWIFT: TMBKTHB Thanachart Bank: https://www.thanachartbank.co.th SWIFT: THBKTHBK UOB United Overseas Bank: http://www.uob.co.th SWIFT: BKASTHBK Link to comment Share on other sites More sharing options...
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