Money Transfer From Uk To Thailand

[JusticeFT96]

Hi there,

I am buying a car on Friday and need about 500,000 baht for the deposit. I currently bank with Natwest in the UK. I am wondering if there is any easy way to transfer money from my bank to my girlfriends bank in thailand or if there is a way to buy currency for this much?

The car shop want to charge me 5% which is a bit rubbish really to use my card with them. Has anyone got any experience in buying currency here for this amount for less than 5% or a bank transfer to my g/f account that would reach it by friday?

Any help much appreciated

Al

[JohnC]

Open an account in your name with a local bank, do a SWIFT transfer from your UK bank to your Thai bank, cost £25. time frame, normally two working days. Transfer of such a large sum to a Thai person not recommended.

[Jiu-Jitsu]

I agree with JohnC. Open your own Kasikorn Bank account and transfer the money to the Thai bank in Pounds Sterling, not Thai Baht.

[Thongkorn]

Open an account in your name with a local bank, do a SWIFT transfer from your UK bank to your Thai bank, cost £25. time frame, normally two working days.

Transfer of such a large sum to a Thai person not recommended. Be warned

[JusticeFT96]

I was looking at bangkok bank as they have a branch in london also so each time I do a transfer its only £25.

Are you saying transfer to the thai bank in pounds and let the thai bank convert it into baht not let the uk bank convert it for me?

[true blue]

you get better rate in los, its about 49bht to pound conversion rate, in uk i think its 42????

[Riley'sLife]

My God, it really is a worry seeing all these innocents abroad. The Thais must just love ‘em. All future fodder for TV ‘horror story’ posts I suppose.

OP, I don’t want to criticise you for your lack of awareness, as everyone has to learn, but you must clearly understand the need for retaining complete control over your own money and assets. Have you ever heard the saying, “a fool and his money are easily parted” ?

500k for ……deposit? -negotiate that way down to say 5,000. Most Thais would probably pay even less.

You will be pleased (and also perhaps be amazed) to know that the International Banking System -which your Natwest Bank is part of, is actually set up to accommodate your needs. First, however you need to open a bank a/c in Thailand. Your own account.

Next, as already mentioned by others, simply arrange a SWIFT transfer from your existing UK Natwest a/c to your new Thai Bank a/c. It is imperative that you specifically instruct Natwest to SWIFT your money in GBP, otherwise they may exchange to THB prior to transfer, both charging you for the service, and giving you a far worse exchange rate than you would enjoy from your Thai Bank.

You ask if there is "an easy way to transfer money from your (UK) bank to your g/f’s bank a/c", well, the answer is clearly yes. However, why would you ever think of doing such a stupid thing? This could make eventual repatriation of the funds almost impossible, whilst allowing another party to control YOUR money. You’re going to say the car will be registered in your g/f’s name aren’t you? Please tell me that’s not true.

The deal with the “car shop” ( how cute, that’s what my 4yr old nephew calls it too) should include their registration of the vehicle in YOUR name. Yes, they will say “cannot” – they have never done it before so obviously they know “cannot”. But they are wrong. … however, that can be your next post’s topic.

Once your funds have arrived at your Thai bank you will need to obtain the final invoice from the Car Dealership, oops sorry, the car shop and then obtain a Banker’s Draft in favour of the car shop for the payment. But, do not do this until the vehicle is available for you to drive away.

You ask if “anyone has experience in buying currency here for less than 5%”. I would say that perhaps everyone has that experience.

You also ask if anyone has experience in “ a bank transfer to my g/f account that would reach it by friday”. Well, there are many foolish people having transferred money to a Thai female’s bank account, but whether it was your g/f or not would only be known if you disclose her name (and perhaps banking details) !!! I would hope for your sake that nobody has that experience. However, serial girlfriends do exist in Thailand.

Suppose it will be the house next then…….

[JusticeFT96]

Thanks for your concerns about transfering it to my gf we are due to be married next month and have a baby on the way so its not like I have just met her in a bar and I am giving her 500k to put in her bank, I trust her although maybe I should have put some information down about that in the first place.

Only reason I asked about putting it into her bank is that I dont want to pay the 5% that the bastard dealership want to charge me, sorry about saying "shop" picking up on thais english.

I wanted to put the standard 15% down but was told by the car dealer that 20% would work better for the finance as the family is not too well off. Anyway I agreed and then was told that my gf was too young (19) to have the car in her name, I assumed I couldnt have it in my name but is this not the case? The car is going in her mums name until she turns 20 (next month) her mum gave her banking statements into them and her aunty gave a guarentee for her work as she is a teacher however I got a call today and they said this was not good enough to get finance and they agreed that a 40% deposit would do.

How do I go about getting it in my name? Do I just tell the girlfriend to argue with them until they change their mind? I have read many places that unless I buy the car outright it cant be in a farangs name. Any help on this would be appreciated.

I am going to bangkok bank later today and opening an account and then will swift transfer the funds into my bank account. It was not the gf or her family who have told me I cant have it in my name it has been the dealership.

[JusticeFT96]

And deposit was 5000 yes, sorry, its for the downpayment of the car not deposit. I have already paid the 5000 deposit.

[phutoie2]

And deposit was 5000 yes, sorry, its for the downpayment of the car not deposit. I have already paid the 5000 deposit.

You should ask a mod to move this to the motoring forum, there are several TV members who know all the gen on car deals and ownership in Thailand, ' katabeachbum ' the motoring mod will assist you.

I am in the process of purchasing a new pickup with finance and suggested to the wife that I might like it to be in my name, well she got pretty shirty with me about that and we have been married for over 7 years.!!

Agree always move sterling across and change in Baht this end, again stacks of stuff about that on the business forum.

Halifax charge one of the lowest transfer fees and there are several money exchange companies too.

[Upnotover]

Thanks for your concerns about transfering it to my gf we are due to be married next month and have a baby on the way so its not like I have just met her in a bar and I am giving her 500k to put in her bank, I trust her although maybe I should have put some information down about that in the first place.

Only reason I asked about putting it into her bank is that I dont want to pay the 5% that the bastard dealership want to charge me, sorry about saying "shop" picking up on thais english.

I wanted to put the standard 15% down but was told by the car dealer that 20% would work better for the finance as the family is not too well off. Anyway I agreed and then was told that my gf was too young (19) to have the car in her name, I assumed I couldnt have it in my name but is this not the case? The car is going in her mums name until she turns 20 (next month) her mum gave her banking statements into them and her aunty gave a guarentee for her work as she is a teacher however I got a call today and they said this was not good enough to get finance and they agreed that a 40% deposit would do.

How do I go about getting it in my name? Do I just tell the girlfriend to argue with them until they change their mind? I have read many places that unless I buy the car outright it cant be in a farangs name. Any help on this would be appreciated.

I am going to bangkok bank later today and opening an account and then will swift transfer the funds into my bank account. It was not the gf or her family who have told me I cant have it in my name it has been the dealership.

First thing I did when I moved here was open a bank account - I want my money in my account, its easy to do and cannot imagine why somebody wouldn't do it.

Second thing I did was buy a car. In my name. Couldn't imagine why I would do anything else. I paid 50% down and 50% on finance (Tisco). Needed my girlfriend to act a guarantor, but the car was registered in my name and the finance was in my name. I was on a non-O, no work permit, and only needed an immigration residency letter.

Seemed very easy to me.

[beano2274]

Transfer of ownership will cost you a mere 1500baht per time. Do as others have suggested, your money your name on the docs for the car.

[Riley'sLife]

I was wondering what sort of car you were buying your g/f with a 500k deposit. I had visions of a Bentley at the very least!

So, was your original question referring to 5,000Baht and not 500,000Baht?

In my understanding,” deposit” and “downpayment” refer to the same thing when related to financing a car purchase.

I’m not going to give any advice about vehicle finance as I have a strict rule about never borrowing to finance a depreciating asset. That’s double stupidity in my book- ie paying interest to lose money. ( Although I could be tempted if the deposit was low enough and someone was stupid enough to act as a guarantor for the repayments!)

It wasn’t clear from your original post that you were actually not buying the vehicle outright, but rather “giving” the deposit for the vehicle to your g/f’s mother so that she can obtain finance with the aid of her sister acting as a guarantor. Now that would have been a good deal for you personally if the deposit had been 5k., and if you were to be the one to use the car, but as Finance Co now want a 40% deposit your financial input has drastically increased, although the monthly repayment liability will ultimately rest firmly with the rather imprudent teacher aunty guarantor!!

I doubt that you would be able to change the Blue Book owner to being your g/f when she is 20yrs, without some considerable expense and being given the run around by the Finance Co. Why not try and finance it in your own name at the time of purchase, with the aunty as guarantor, with 40% deposit that should be so easy.

The 5% that the Dealership want to charge you is to enable them to recoup the 5% merchant charge that the bastard bank will want to deduct from the Dealership for processing your card. It’s not the Dealership that is the devil here, it’s the Bank issuing your card. If we are debating about 5,000Baht, then the Dealership only wants to charge you 250Baht extra. They should be able to waive that to make a sale. Don’t forget they get a kickback from the Finance company, which they would lose if you bought outright. Plus, there are many car dealers out there wanting to make a sale. Shop around for both the car and the Finance.

Whatever, hope all goes well for you.

[JusticeFT96]

I am getting a Pajero sport its aroudn 1.3m baht. Looks like I am going to go to another city to buy the car now, was buying it in Surin but have been messed around far too much from the company and have just phoned another dealership who seem a lot more helpful.

[Eff1n2ret]

To get the car registered in your name, your need to get a letter from your local immigration office confirming your identity and your address. Take along your passport and your girlfriend with the tabien baan where you/she stay, and fill in a proforma which the immigration office should have. This has 2 tickboxes, one for purchase of vehicle, the other for applying for a driving licence. Tick both and get yourself a driving licence while you're about it. At any rate, that's what I did at Rayong. The IO said it would take about 3 weeks, or 24 hours if I paid 500 baht. They're supposed to come and check your address,but the 500baht "fee" waives that necessity. The dealers should take the letter and submit it to the licensing office. It can take a month or two to get the car registered, in the meantime they give you red plates, effectively what are known in the UK as "trade plates", against a deposit. There are plenty of threads about this in the motoring forum.

If you register the car in anyone else's name then it isn't yours, however much you trust someone else.

[JusticeFT96]

Well getting a bank account was easy enough took me about 30 minutes in the branch to open it, get my card and passbook and make a deposit.

As for currency exchange I went to the large bangkok bank branch in the center of surin and they done the transfer for me there for no charge, I asked for £3300 worth of baht, he gave me 49.2 or around that, showed me what it was then charged my card, funnily enough it only worked out at 3180 on my credit card so I actually got a better deal.

Done a swift transfer last night and it is now in the bank this morning and after the terrible customer service from Surin Mitsubishi after them telling me it would only take a few days to get a car (2 weeks ago) then trying to say its now more expensive, changing my mind from 15% to 20% to help gain finance then saying I have to put 40% down, then telling me after the film for the window was free I actually have to pay for it I phoned up the Korat branch, had to pay 7000bt more for the car but got a better interest rate, better film for the car window and a lot more freebees and the car is ready in just 1 day, picking it up in the morning.

Thanks for the advice and concerns, it helped a lot.

Now looking forward to the rainy season and not having to worry about a pregnant lady bouncing around on the back of a moped any more. Happy days

[F1fanatic]

Well getting a bank account was easy enough took me about 30 minutes in the branch to open it, get my card and passbook and make a deposit.

As for currency exchange I went to the large bangkok bank branch in the center of surin and they done the transfer for me there for no charge, I asked for £3300 worth of baht, he gave me 49.2 or around that, showed me what it was then charged my card, funnily enough it only worked out at 3180 on my credit card so I actually got a better deal.

Done a swift transfer last night and it is now in the bank this morning and after the terrible customer service from Surin Mitsubishi after them telling me it would only take a few days to get a car (2 weeks ago) then trying to say its now more expensive, changing my mind from 15% to 20% to help gain finance then saying I have to put 40% down, then telling me after the film for the window was free I actually have to pay for it I phoned up the Korat branch, had to pay 7000bt more for the car but got a better interest rate, better film for the car window and a lot more freebees and the car is ready in just 1 day, picking it up in the morning.

Thanks for the advice and concerns, it helped a lot.

Now looking forward to the rainy season and not having to worry about a pregnant lady bouncing around on the back of a moped any more. Happy days

As long as you know that you can own the car - you don't have to put it in your wife's name - making it hers.

Edit - I've no doubt that your wife/gf will tell you otherwise...

[Trembly]

Work Permit = Car (and all manner of other things) in your name. Simples.

[PattayaParent]

Work Permit = Car (and all manner of other things) in your name. Simples.

Don't need a work permit to own a car, or a condo.

In fact in 16 years the only thing I've been asked for a WP for was to open a bank account.

[Trembly]

Work Permit = Car (and all manner of other things) in your name. Simples.

Don't need a work permit to own a car, or a condo.

In fact in 16 years the only thing I've been asked for a WP for was to open a bank account.

For a bank account you don't even need a proper visa, let alone a WP. Just keep plugging away at the branches until you find one that will do it for you (hint : BB). My point to the OP is that you can make nearly all of those name-related mai-dai go away with a WP, whilst simultaneously arming yourself with Thai employment law and protecting yourself against nefarious Thais or foreigners shopping you to the Immigration Police for doing anything that can be construed as work without a permit.

[PattayaParent]

Work Permit = Car (and all manner of other things) in your name. Simples.

Don't need a work permit to own a car, or a condo.

In fact in 16 years the only thing I've been asked for a WP for was to open a bank account.

Good for you if in 16 years you've never worked or found it necessary to arm yourself with Thai employment law, or safeguard yourself from the threat of being shopped to the Immigration Police by a Thai or a foreigner . . . as for a bank account, you don't even need a WP to open one of those for that matter. Just keep plugging away at the branches until you find one that will do it for you (hint : BB). My point to the OP is that you can make all (bar land, sort of, but that's for another post) of those name-related mai-dai go away with one document.

I've always had a work permit when I've worked here.

But never had a work permit when I bought a condo or bought a car as it's not necessary, so I've never been told mai dai in those circumstances.

[ableguy]

I was looking at bangkok bank as they have a branch in london also so each time I do a transfer its only £25.

Are you saying transfer to the thai bank in pounds and let the thai bank convert it into baht not let the uk bank convert it for me?

Open an internet banking account with your bank in the uk you can then transfer the money yourself to your thai bank account, I do it all the time with halifax costs nine pounds a time.

[Jiu-Jitsu]

I was looking at bangkok bank as they have a branch in london also so each time I do a transfer its only £25.

Are you saying transfer to the thai bank in pounds and let the thai bank convert it into baht not let the uk bank convert it for me?

Open an internet banking account with your bank in the uk you can then transfer the money yourself to your thai bank account, I do it all the time with halifax costs nine pounds a time.

It's £9.50 or £7.50 with a Promo Code. Transfer in Pounds, not Baht.

[chris5346]

hi ,

i've caught this thread a bit late but maybe someone will read this,

i think with buying a car here the finance company will keep the registration book and a set of keys until the finance is paid off, are you getting a thai driving licence ? and is the insurance covered for you ?

you can get a bank account and driving licence and residence certificates all on tourist visas if that's what you have ?

with your getting 3300 pounds worth of baht - did you get a cash advance from the bank or was it a transfer set up from thailand ?

also with the guy who gets 9 pound transfers from the u.k with halifax does anyone know if barclays or nationwide flex accounts do similar for overseas transfers ? i thought swift transfers were the only option ?

i have a bangkok bank savings account and i have used there london branch to transfer money to thailand but do i need to do it that way ? can't i just use my account number and swift code ?

i need to start looking into transferring money into thailand and finding out options and best method, i'm not sure how banking works and want the chespest way.

i have noticed recently that when i use atm's they are stating the rate i will receive and different banks are better than others ? i thought that my bank in the u.k delt with that and rates were set by visa or mastercard ?

i'm a bit confused sometimes and any help appreciated,

good luck and congratulations with the baby, we have a one year old daughter.

chris

[JusticeFT96]

Actually my g/f doesnt care about having it in her name, every time I asked to put it in my name she never got angry or anything and asked the guy at the showroom and it was him who didnt want to put it in my name.

Will ask today about the insurance and at the moment I only have a UK driving licence. Do I need a thai driving licence? Is there any benefits of getting one and is it really needed?

[booma]

Actually my g/f doesnt care about having it in her name, every time I asked to put it in my name she never got angry or anything and asked the guy at the showroom and it was him who didnt want to put it in my name.

Will ask today about the insurance and at the moment I only have a UK driving licence. Do I need a thai driving licence? Is there any benefits of getting one and is it really needed?

'She never got angry' did she smile? When she asked the salesman about the registration, was the conversation in Thai?

How long were you with your gf before getting her pregnant? In fact, how long were you in Thailand before any of this happened? I would guess that you hadn't been her for very long? Correct?

[PattayaParent]

Actually my g/f doesnt care about having it in her name, every time I asked to put it in my name she never got angry or anything and asked the guy at the showroom and it was him who didnt want to put it in my name.

Will ask today about the insurance and at the moment I only have a UK driving licence. Do I need a thai driving licence? Is there any benefits of getting one and is it really needed?

Yes, Yes and Yes.

Unless you want to drive illegally and have no insurance cover?

And be sure to get an International Driving Permit in UK as well as that makes getting the Thai license easier.

[PattayaParent]

hi ,

i've caught this thread a bit late but maybe someone will read this,

i think with buying a car here the finance company will keep the registration book and a set of keys until the finance is paid off, are you getting a thai driving licence ? and is the insurance covered for you ?

you can get a bank account and driving licence and residence certificates all on tourist visas if that's what you have ?

with your getting 3300 pounds worth of baht - did you get a cash advance from the bank or was it a transfer set up from thailand ?

also with the guy who gets 9 pound transfers from the u.k with halifax does anyone know if barclays or nationwide flex accounts do similar for overseas transfers ? i thought swift transfers were the only option ?

i have a bangkok bank savings account and i have used there london branch to transfer money to thailand but do i need to do it that way ? can't i just use my account number and swift code ?

i need to start looking into transferring money into thailand and finding out options and best method, i'm not sure how banking works and want the chespest way.

i have noticed recently that when i use atm's they are stating the rate i will receive and different banks are better than others ? i thought that my bank in the u.k delt with that and rates were set by visa or mastercard ?

i'm a bit confused sometimes and any help appreciated,

good luck and congratulations with the baby, we have a one year old daughter.

chris

Chris, most of your questions will be answered in the Jobs, Economy and Banking Forum.

I believe Halifax is cheapest, and yes you can just use your account number and SWIFT code to transfer to BB Thailand, but I don't know if it is more expensive or cheaper than through BB London.

The charges for your bank, Barclays and Nationwide Flex should be on their websites.

[Upnotover]

Actually my g/f doesnt care about having it in her name, every time I asked to put it in my name she never got angry or anything and asked the guy at the showroom and it was him who didnt want to put it in my name.

Will ask today about the insurance and at the moment I only have a UK driving licence. Do I need a thai driving licence? Is there any benefits of getting one and is it really needed?

Yes, Yes and Yes.

Unless you want to drive illegally and have no insurance cover?

And be sure to get an International Driving Permit in UK as well as that makes getting the Thai license easier.

Getting an IDP will not make getting a Thai license any easier - a UK license is accepted when going for a Thai license because it is already in English. A Thai license is definitely required if your going to be here any length of time.

[PattayaParent]

Actually my g/f doesnt care about having it in her name, every time I asked to put it in my name she never got angry or anything and asked the guy at the showroom and it was him who didnt want to put it in my name.

Will ask today about the insurance and at the moment I only have a UK driving licence. Do I need a thai driving licence? Is there any benefits of getting one and is it really needed?

Yes, Yes and Yes.

Unless you want to drive illegally and have no insurance cover?

And be sure to get an International Driving Permit in UK as well as that makes getting the Thai license easier.

Getting an IDP will not make getting a Thai license any easier - a UK license is accepted when going for a Thai license because it is already in English. A Thai license is definitely required if your going to be here any length of time.

As someone who only had an English license and no IDP I can assure you that's incorrect.

I had to do the practical and written test to get my Thai license whereas it is not necessary if you have an IDP.

Also you can legally drive for 3 months with an IDP while an English license is not accepted for drinving temporarily.