I've been denied entry to Thailand - Now What ! ?

[Firfox]

Hi all

I am about to relocate to Thailand in December 2011 to set up a tuition school. I have everything in hand in regard to obtaining a license and formulating a company apart from not having a Thai Bank account. I was considering flying out in October to open an account but it seems a costly route to take.

Visited the Nationwide where I hold three accounts and was informed that once I arrive in Thailand I can open an account and through using internet banking and my card reader I will be able to undertake a swift transfer. I do not even have to print off the form and sign it and post it onto their head office for the card reader pin number will be sufficient security. They will even allow me to send it to them electronically. Has anyone else used this system?

Another option I am considering is travellor cheques. I am aware of the commission you pay when buying sterling travellor cheques, however the post office will sell me 10,000 pounds worth for £50.00 commission. If I buy them in £200 cheques that amounts to 50 cheques. For each cheque cashed in Thailand I will have to pay 33 baht therefore totalling 1,650 baht = about £35.00.

A swift transfer with Nationwide costs £25.00 so cheaper than the travellor cheque option. In total using travellor cheques would cost me £85.00 (see above). However, with travellor cheques I could watch the currency exchange rate and if the baht was to go up a baht or even god forbid two baht I could cash in a few thousand sterling travellor cheques. With a swift transfer all my money would come in one go and be reliant on the thai baht rate the day of its arrival.

Just wanted to post this to see what forum members thought and have I missed anything.

Kind regards

Andy

[true blue]

you could bring cash with you,better exchange rate than t/c,or find some bank that do cheaper charges on t/c

[CharlieH]

First of all 10k in GBP in cash will require you to declare it at both the UK when leaving and Thailand when arriving, if you dont and its discovered it could be confiscated.

The best method in my opinion, open a Bangkok Bank account, transfer the money online into Bangkok Bank LONDON, they will pass it to your Thai account. Costs 20.00

Once the money is in London its in your Thai account the next day. If you activate the SMS alert on the account you'll get an sms the minute it arrives.

Much safer and efficient. here is the info...........

http://www.bangkokba...0from%20UK.aspx

http://www.bangkokba...%20Banking.aspx

Edited July 21, 2011 by CharlieH

[BigRick]

Cash is the best option like the person pointed out you can only bring so much without paperwork.

Travelers checks suck A. you get charged 1$ per check at a crappy exchange rate that is suppose to be better. B. You pay for them when you get them so you are already losing 2-3% just using them.

Cash is good its the best rate period just always have it secure. Siam commercial exchange across the street from MBK offers the best rate even better than Superrich and they do not make it big deal with all the passport copying and waste of time with stupidity Pure Chinese efficiency. If you cant use them then Superrich is still the second best option (Just not the one on Ko San road)

Swifts are ok if your bank gives you a fair rate here is a nice little secret that banks pull they set the rate when they sell you currency. My cousin lost about 10% when he swifted through Kasacorn bank. They even had to balls to round it down and keep the crumbs.

Cash is always king you can lose a lot of money with all the little charges and fees.

If you use an ATM Aeon Bank is the only ones to use they do not charge the 150baht "Farang" ATM charge. You still can get the 1-2% crossborder fee and 1% for currency conversion fees.

If you were stateside you could use Charles L Swuab no fees on international transactions I am not sure they have it in England but you guys have the same type of companies.

[Tafia]

I use the Nationwide online Swift transfers and to some extent you can monitor the exchange rate as the money is transferred within 24 hours (excl weekends and holidays) whereas with posting it was in the lap of the Gods. Safe painless and to date trouble free.

Always have your transfer in Sterling and allow the Bank here to do the exchange, you get a better rate.

When signing onto NW use the memorable data and only use the card reader when you go into the swift transaction otherwise the form does come up for filling in and printing off to send to them.

I bank here with Kasikorn again my experience is trouble free and easy online banking with sms alerts for any movement on your account.

Edited July 21, 2011 by Tafia

[Daveroc]

Whilst all the above options are a means of transportation,you will still incur some fees somewhere along the line plus have the security issues of carrying cash. An option to consider is to transfer your funds out through the Bank SWIFT system, open a Foreign currency Account and transfer your immediate working needs into a Thai Baht account. The balance you can leave on deposit, in Stg, until you consider the rate to your liking or you need further funds.

Funds transferred from your FCD account to your Thai Baht account are done at the best rate available, TT Buy. Travellers cheques are converted at sight Bill rate. Current difference on Bangkok Banks rate board this morning is 47.9225 versus 47.7975