Best Way To Transfer Money From Thailand To The Uk

[dogpoo]

What would be he best way to get money back to the UK, is transferring money from my Thai account to my account in the UK the best way?

[simoncnx]

Swift.

[dogpoo]

Swift.

What is swift?

[barryw52]

My understanding is you can transfer money out of Thailand via a Bank. This web site is good to compare banks rates http://bankexchangerates.daytodaydata.net/default.aspx

[barryw52]

Sorry I meant to say can only transfer money out of Thailand via a bank.

[dogpoo]

Sorry I meant to say can only transfer money out of Thailand via a bank.

Would you know how much cash you can take out of this country and not have problems with immigration here and in the UK?

[midas]

Swift.

What is swift?

The Society for Worldwide Interbank Financial Telecommunication

Bank swift code which is also referred to as the BIC code is a unique code that is used to recognize financial and non-financial institutions. The bank swift code comes with eight or eleven characters that throw light on details regarding the bank code, country code, location code, and the branch code. The first four letters of a eleven digit bank swift code is but the bank code, followed by another two digits that identifies the country code, as the next two letters help identify the location of the financial institution. The last three letters tell us more about the branch related to a financial institution, which is but an optional code of letters that come along with the other details of a financial institution.

Edited February 6, 2013 by midas

[asiamint]

well for one they will not just let you send it. Unless you have paperwork confirming the exact amount your brought in and there is a paper trail for that money then it will be easy.

there is severe capital controlls in thailand for money leaving.

Money coming in no problem

it really all depends on how much you want to send

what type of status you have here on the visa,

you are allowed a limit from memory of $120,000 USD going in and out of the account every calandar year, and no more than $20,000 in any one month, and that's on a normal married visa or other types of visa's.

Put it like this, you will have to be creavtive to transfer the money

sending around $15,000 should not bring you into contact with the bank of thailand(the laws do change here very quickly, your best bet is to call the bank of thailand, good english speakers there and ask them, do it from a pay as you go phone), then catch a flight to hong kong with $20,000 or SG

[talk2sam]

well for one they will not just let you send it. Unless you have paperwork confirming the exact amount your brought in and there is a paper trail for that money then it will be easy.

there is severe capital controlls in thailand for money leaving.

Money coming in no problem

it really all depends on how much you want to send

what type of status you have here on the visa,

you are allowed a limit from memory of $120,000 USD going in and out of the account every calandar year, and no more than $20,000 in any one month, and that's on a normal married visa or other types of visa's.

Put it like this, you will have to be creavtive to transfer the money

sending around $15,000 should not bring you into contact with the bank of thailand(the laws do change here very quickly, your best bet is to call the bank of thailand, good english speakers there and ask them, do it from a pay as you go phone), then catch a flight to hong kong with $20,000 or SG

Supposing you have a work permit and legally working here, cant you transfer money out of thailand through your bank without raising eyebrow?

Edited February 6, 2013 by talk2sam

[davejones]

Just go to your bank and ask. You'll get a better answer. But from what I know it's very easy to do unless you are transferring substantial amounts.

[mopar71]

There is a new website that allows for transfering money between countries without incurring all the high bank fees, http://transferwise.com/. It has something to do with coordinating people in different countries who want to send money to each other's country.

[triffid]

I posted the passage below in another topic just now, but reading this one I think it belongs better here and therefore am pasting it below.

Over time I have transferred a not negligible amount of money from overseas into my SCB account. I had known there was a procedure involving keeping evidence of the transfer in case at some point I wanted to transfer some or all that money out again. But sometime ago SCB told me that a code in my bank book - and no doubt in their computer records - indicated a specific transfer was from abroad and therefore if I ever wanted to transfer money out, provided the total amount(s) was less than the net total amount shown in the book/records it could be done without ay additional evidence. I then became unconcerned about keeping the incoming transfer evidence. Was this foolish of me or was SCB correct in reassuring me? As it happens I will in a few months want to make a transfer out of Thailand.

Maybe it would be relevant to add that 'not negligible' means six figures in sterling; so just doing a comparatively small transfer won't cut it for me.

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Edited February 6, 2013 by triffid

[cardholder]

Sorry I meant to say can only transfer money out of Thailand via a bank.

Not so.

I need Baht everymonth. Transfer the Baht to my Thai account and I will transfer the Sterling equivalent - no fees - to your UK account.

Quicker than SWIFT as well.

[Satcommlee]

I sent a small amount home once, about 2500 GBP.

They did ask me the reasons I was sending it, I did not want to tell them the truth cos that was private so I just told them I owed a friend money, that was fine.

That was at a Kasikorn main branch.

[SeaVisionBurma]

Try www.skrill.com - I am using it at the moment, and the fees are a LOT cheaper than a TT through a bank (SWIFT)

[breadbin]

I am looking to do this too.

What I have found out is that banks allow you to transfer $20,000 without the requisite permission.

If you have an account with internet banking you can transfer it this way for ease.

Fees were quoted as 1200bt or 20 GNP max per transaction.

Would be interested in your experience.

Cheers

[SeaVisionBurma]

If you have an account with internet banking you can transfer it this way for ease.

Would like to hear other responses on this point - I have a couple of Thailand bank accounts, and neither of them allow a TT outside of Thailand through internet banking.

[Satcommlee]

If you have an account with internet banking you can transfer it this way for ease.

Would like to hear other responses on this point - I have a couple of Thailand bank accounts, and neither of them allow a TT outside of Thailand through internet banking.

You can do it on Kasikorn Cyber Banking, but the account you are sending to has to be approved first by the bank.

[SeaVisionBurma]

If you have an account with internet banking you can transfer it this way for ease.

Would like to hear other responses on this point - I have a couple of Thailand bank accounts, and neither of them allow a TT outside of Thailand through internet banking.

You can do it on Kasikorn Cyber Banking, but the account you are sending to has to be approved first by the bank.

I use K-bank - and while I have been able to add accounts in Thailand for transfer by cyber banking - I couldn't find a form allowing overseas accounts. Staff also told me this was not possible.

[Satcommlee]

I've attached the screenshots here. It is possible on KCyber Banking

Edited February 6, 2013 by Satcommlee

[SeaVisionBurma]

Thanks for this - I'll be back in Bangkok this weekend, and I'll look into it. Obviously given the wrong information before

[jonnyscot]

Same for me also,, I was told only in country money transfers from K bank online,, for the past year my wife has had to physically visit the bank to do regular transfer to my uk acc,,armed with a passport copy of the recipient ( me) and a copy of marriage doc on each occasion, ,, we were told it would be easier for the transfer to come from my wife rather than me doing it, even though it comes from our joint K Bank acc,,

Based on your info satcommie I think it's time to visit our bank to try to save the wife the hassle of these regular visits to the bank

[tamesisfwp]

I have now made a few transactions but three to Thailand and one out of.

In February 2012 I asked my UK bank to send 2k gbp to my gf's account at BKK Bank. It took several days and I was charged 25gbp by my uk bank and then weeks later stung with correspondent bank charges of another 43gbp. Ouch.

Then, in anticipation of coming there and staying for a long time, I used BKK bank London facility to transfer overnight to the gf's bank. It took 4 days and althought the bank charge was as stated (15gbp) the rate transacted was usurous. MY capital sum was seriously dented.

On arriving in BKK early in October I raced to BKK bank Sukhumvit to open my own account with atm card and then went online to my uk bank to transfer money to my shiny new account. Fortunately I had the foresight to bring some cash with me as again it took days and days to arrive. Again the forex rate was awful despite having instructed to change it in BKK and not London. Iwas certainly outside the range for the day published by BKK bank. Have you ever tried getting an explanation out of a BKk Bank clerk? I decided smashing my head against a wall was more life enhancing. I have never seem a transaction slip despite asking on endless occasions.

Because my courting trip was not very successful I kept my options open by transferring back to the UK my surplus cash of about 2k gbp, leaving a notional amount above the minimum to keep the account open. The procedure was straight forward, no questions asked and the fees explained to me. On arriving home i checked and found yet another large hole in my funds transferred. Again I should have found the wall.

BTW I patched up the misunderstanding with the gf - basically she wanted to spend all my money on fripperies and I wanted to do useful things with it - and have since sent school fees by transfer and got ripped off again.

In early March I intend going back with a one year multiple entry visa and staying as long as I want. I propose to relocate 3 to 5k gbp to my BKK bank account but am happy to do a back to back to see if i can save on near 10% disappearing each time. Anyone up for a back to back? The timing can be flexible from now and can be done in slices if anyone wants. Of course implicit trust must be mutually assured.

Best wishes all

Stephen

[talk2sam]

Hello Guys, I just got back from SCB, I went to transfer the money...it took like an hour thirty minutes> I transferred 4,315.11 Pounds @ 46.9162500, then I paid fee of 1750 baht and 224 baht comission for transfering from a different branch. they asked for copy of my passport and that was it.

[triffid]

Hello Guys, I just got back from SCB, I went to transfer the money...it took like an hour thirty minutes> I transferred 4,315.11 Pounds @ 46.9162500, then I paid fee of 1750 baht and 224 baht comission for transfering from a different branch. they asked for copy of my passport and that was it.

Hi talk2sam. Did you get some idea of the maximum amount (expressed in either bht or £) they would have been willing to transfer on just the passport as evidence? Was the receiving account in your own name - and did they indicate if this mattered?

[talk2sam]

Hello Guys, I just got back from SCB, I went to transfer the money...it took like an hour thirty minutes> I transferred 4,315.11 Pounds @ 46.9162500, then I paid fee of 1750 baht and 224 baht comission for transfering from a different branch. they asked for copy of my passport and that was it.

Hi talk2sam. Did you get some idea of the maximum amount (expressed in either bht or £) they would have been willing to transfer on just the passport as evidence? Was the receiving account in your own name - and did they indicate if this mattered?

I don't have a clue. The receiving account is not in my name, but it didnt matter, they just want to know the reason for the transfer, and they ve code for different tranfers according to the reason you give them.

[davejones]

If you have an account with internet banking you can transfer it this way for ease.

Would like to hear other responses on this point - I have a couple of Thailand bank accounts, and neither of them allow a TT outside of Thailand through internet banking.

You can transfer money internationally with Bangkok Bank internet banking, but you need to set the facility up at you branch first. It's not on internet banking by default. Probably a good thing, as it helps prevent fraud.

[davejones]

There is a new website that allows for transfering money between countries without incurring all the high bank fees, http://transferwise.com/. It has something to do with coordinating people in different countries who want to send money to each other's country.

But they don't support THB.

[jonnyscot]

Hi guys, Just to add an update to satcommie,s good info regarding international transfers via k bank cyber,, although it doesn't seem to mention this on their website or maybe i missed it, but it cant be set up from a joint account,, I tried to set up the cyber banking with the wife today from our joint acc, the assistant bank manager helped us set up for the K Bank cyber, his computer screen then was denied finalising the process, the screen informing him that we couldn't set up via a joint account,, just thought I'd try getting us both set up in one process through our joint acc, but wasn't to be,,

[MaiChai]

I've attached the screenshots here. It is possible on KCyber Banking

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clip2.JPG

clip4.JPG

This facility appears to be restricted to foreign students (have a student visa), foreigners working in Thailand (work permit) or a Thai permanently living abroad. I am married to a Thai and have an non immigrant o visa, but I don't bother with all the reporting, etc. I might need to transfer some money in so its instantly available, but if its not required I would like to send it back to the UK. May not be able to wait the transfer time. Anyone managed to setup kcyber for foreign transfers outside the above criteria?

I also use skrill for inbound transfers to Thailand, its cheap, easy and fast but you don't get a good exchange rate. The thing about skrill is you can only draw money out to a bank account in your name in a foreign country. This is a good idea and I recon if kasikorn implemented something like this, it would reduce fraud.