Sending Money To Thailand From Uk

[gbswales]

I want to be able to help support someone for specific things in a cost effective way - he is young and doesnt want me to send large amounts of cash because he doesnt want the temptation to spend it all at once.

The cheapest way i have found so far is the moneygramme but the minimum charge for this is £12 plus some other commission that seems to dissapear at the Thai end. This is hardly cost effective if I want to send him the equivilent of 3000 baht to pay the months college fees or whatever. To transfer money electronically from my bank cost a minimum £25 plus whatever his bank cream off it. I next looked at pre-loaded ATM cards but the hidden fees make these as expensive, if not more so, than moneygrammes

I can believe I am the only western guy who wants to do something like this so I am hoping someone has come up with a better scheme. I deally I guess a way of having an account out there and transferring a larger amount and then use on-line banking to transfer small amounts from my Thai account to his - however I dont think that non-residents can open up accounts there like this

Does anyone have a solution that ensures he ends up with pretty close to 100% of what I send?

[lopburi3]

By far the best way for recurring payments is to open a new bank account (believe in UK Nationwide is a no fee place) and send the ATM card to your friend who can then use it to withdraw whatever you put into the account immediately after you do it. No forms/wires/fees (other than normal ATM at home bank). Be sure to pass the PIN information by phone or in a different letter. The only thing you have to be sure of is that ATM card can be used overseas (almost all can).

[mogoso]

By far the best way for recurring payments is to open a new bank account (believe in UK Nationwide is a no fee place) and send the ATM card to your friend who can then use it to withdraw whatever you put into the account immediately after you do it.  No forms/wires/fees (other than normal ATM at home bank).  Be sure to pass the PIN information by phone or in a different letter.  The only thing you have to be sure of is that ATM card can be used overseas (almost all can).

<{POST_SNAPBACK}>

We've been doing this for many years, it works well, but thai banks add a 100 baht fee for atm usage. My bank here doesn't charge for atm usage.

A pratfall to avoid (at least from the US) is making sure its an atm card only, and not a fake visa/ mastercard debit card

[lopburi3]

By far the best way for recurring payments is to open a new bank account (believe in UK Nationwide is a no fee place) and send the ATM card to your friend who can then use it to withdraw whatever you put into the account immediately after you do it.  No forms/wires/fees (other than normal ATM at home bank).  Be sure to pass the PIN information by phone or in a different letter.  The only thing you have to be sure of is that ATM card can be used overseas (almost all can).

<{POST_SNAPBACK}>

We've been doing this for many years, it works well, but thai banks add a 100 baht fee for atm usage. My bank here doesn't charge for atm usage.

A pratfall to avoid (at least from the US) is making sure its an atm card only, and not a fake visa/ mastercard debit card

<{POST_SNAPBACK}>

And why would that be a "pratfall to avoid"? The ATM does not care what it is called as long as there is a clearance system to use. And what do you mean by "fake"? And what "Thai bank" adds 100 baht fee? I have never paid any fee to a Thai bank.

Is it something new?

Edited December 3, 2005 by lopburi3

[johna]

Babgkok Bank ATM charge is 20 Baht for each withdrawl, and a quarter of one percent/max 500 Baht for each bank transfer

[Guest endure]

I've been using an Nationwide ATM card to withdraw from Bangkok Bank ATMS for years now. I've never been charged either a withdrawal fee or a commission. I also get a really good exchange rate.

[barryofthailand]

The most cost effective and easiest way to send money to someone is to use Western Union.

Barry

[kalaminsa]

3000 baht ? mail it to him , Not likely to go missing in the mail and no disaster if it should.

[haha]

doing a google search for no-fee ATM, I found out that several internet banks provide no minimum balance checking accounts with no-fee ATM service.

in particular, if I am correct - www.netbank.com offers the above with their net value checking account.

I don't have any accounts with any internet banks. so, I don't know how reliable they actually are. it will be up to you to check this out.

as I see it, if someone in the states opened up an account with one of these internet banks, they could deposit money into it. and then someone overseas with the atm card could withdraw the money "for free" as long as the local atm was on the cirrus network.

check it out, and let us know if it is legit.

[Crossy]

I'd go with the Nationwide route.

Open a new account in YOUR name, set up internet banking so that the balance can be checked remotely (from Thailand), send the card, phone the pin.

Don't be a plonker and tell the bank what you intend doing

[COBBER]

Babgkok Bank ATM charge is 20 Baht for each withdrawl, and a quarter of one percent/max 500 Baht for each bank transfer

<{POST_SNAPBACK}>

The 20 baht fee is only if you use a non Bangkok Bank ATM. Bangkok bank card at Bangkok Bank ATM is free.

[COBBER]

The most cost effective and easiest way to send money to someone is to use Western Union.

Barry

<{POST_SNAPBACK}>

Westen Union is horendously expensive. The fee can be over 10%. Only use it as a last resort.

[Greer]

The most cost effective and easiest way to send money to someone is to use Western Union.

Barry

<{POST_SNAPBACK}>

I think Western Union is actually very expensive. I have recently had to send some emergncy money back home from here in Australia and it cost on average around 10% fees - yes it's quick, but that's about all I can say for it.

Sending AUD600 to Bangkok on Friday cost me AUD50, and if I had sent AUD650, the fee would have been AUD60.

So I don't agree that this is cost effective. I would recommend Western Union ONLY for emergencies where the money is needed "right now".

A UK bank account is the easiest way - just make sure the ATM card works with Cirrus or Maestro, send the card over, and then phone him and tell him the PIN verbally.

Make sure to tell him NOT to write the PIN on the card - some people do, and of course the bank immediately retracts any responsibility if money is stolen or goes missing.

Hope this is useful...

[gbswales]

I know Western Union charge at least that - but have MINIMUM charge of £18 which means that for £100 the charge is 18% and for £50 it would be 36%!! From UK Post Office Moneygramme is a little cheaper MINIMUM charge £12 - this is for any amount up to £100 - BUT according to my friend the exchange rate they used was not good AND the bank there make a small charge too!!

However moneygramme is good if you need to send urgently and have no other method in place - though as one person said maybe its better to send small amounts in cash in a letter (IF the recipient can trust the family not to take it!)

I also looked at the US GCard but they have hidden charges everywhere and work out very expensive again. These days it costs a bank virtually nothing to transfer cash anywhere in the world and with internet banking it should be possible to transfer amounts below a certain limit yorself - but as always the banks ( like our embassies ) rip us off whenever they can !!

I will probably go for the second account route and if the bank query the withdrawals in Thailand I will tell them that I visit there more regularly than I actually do

The most cost effective and easiest way to send money to someone is to use Western Union.

Barry

<{POST_SNAPBACK}>

Westen Union is horendously expensive. The fee can be over 10%. Only use it as a last resort.

<{POST_SNAPBACK}>

[thaiflyer1]

I/d go the Nationwide route also (and have)............open the acct set up internet access then send the ATM over to Thailand.

Free ATM withdrawals with Nationwide as already stated and you can keep an eye on the ATM holders "spending" habits via the internet.

[samran]

I/d  go  the  Nationwide  route  also  (and  have)............open  the  acct  set  up  internet  access  then  send  the  ATM  over  to  Thailand.

Free  ATM  withdrawals  with  Nationwide  as  already  stated  and  you  can  keep  an  eye  on  the  ATM  holders  "spending"  habits  via  the  internet. 

<{POST_SNAPBACK}>

quick question, above what amount does the Nationwide ATM route start becoming less useful to those who use it?

[newns.m]

3000 baht ?  mail it to him , Not likely to go missing in the mail and no disaster if it should.

<{POST_SNAPBACK}>

You don't work for the Thai Post Office do you?

Should read "likely to go missing"!

Like other posts the Nationwide account is a favourite of foreign travellers as they don't charge for ATM withdrawals.

MN.

[jonik]

3000 baht ?  mail it to him , Not likely to go missing in the mail and no disaster if it should.

<{POST_SNAPBACK}>

You don't work for the Thai Post Office do you?

Should read "likely to go missing"!

Like other posts the Nationwide account is a favourite of foreign travellers as they don't charge for ATM withdrawals.

MN.

<{POST_SNAPBACK}>

Does this nationwide bank have a internet site...................? Sounds interesting.

[jonik]

Is it possible for outsiders of Uk to set up an account at this bank. The intrest rate is pretty good compared to back home.

[Maestro]

Is it possible for outsiders of Uk to set up an account at this bank. The intrest rate is pretty good compared to back home. 

It doesn’t look like non-UK residents can apply: the address details asked for end with “County”, no field for “Country”.

And those good interest rates apply only if regular monthly deposits of a certain minimum amount are made. Remember to include the transaction costs of those remittances in your calculations.

[jonik]

Yes i have read a little about it now and i could't find anything about foreigners accounts. The value of such an account should be great cause of the savings you do when not being charged for ATM withdraws outside EU countrys. And the intrest rent alone should cover up for the loss in transfer fees each month. Please correct me if i'm wrong........

[wilko]

There are several postings about this...get an ATM in your home country and send him the PIN and ATM....you get to put exactly what you want in the account and can monitor what is going out of it. Just make sure the ATM card works in Thailand and don't send the card and number together.......so easy!

[Simbo]

By far the best way for recurring payments is to open a new bank account (believe in UK Nationwide is a no fee place) and send the ATM card to your friend who can then use it to withdraw whatever you put into the account immediately after you do it.  No forms/wires/fees (other than normal ATM at home bank).  Be sure to pass the PIN information by phone or in a different letter.  The only thing you have to be sure of is that ATM card can be used overseas (almost all can).

<{POST_SNAPBACK}>

And, make sure it is a cash only card, not a debit.

[mouse]

The most cost effective and easiest way to send money to someone is to use Western Union.

Barry

and here are my two cents worth. looks like a novel idea to me.

Check out this website

No I am not affiliated in any manner or form. wish I was!

[Simbo]

Yes i have read a little about it now and i could't find anything about foreigners accounts. The value of such an account should be great cause of the savings you do when not being charged for ATM withdraws outside EU countrys. And the intrest rent alone should cover up for the loss in transfer fees each month. Please correct me if i'm wrong........

<{POST_SNAPBACK}>

I have been in Thailand for 4 years. During this time, my only source of money has come via ATM from the Nationwide. The exchange rate of the day is what you get. Most banks charge nothing for this service, but a few do ( 20baht ) If anyone knows a cheaper way to get money from the UK, I would love to know. This scheme operates anywhere in the world.