Bank Transfer

[NoshowJones]

I need a quick answer to this please. I am transferring money from my bank in the UK to my bank in Thailand. Should I ask the bank to transfer in Baht or Sterling for the best rate?

[Gsxrnz]

Transfer Sterling always!!!!

Thai banks give a much better exchange rate. Your UK bank could take a Baht or more off you if you send Baht from the UK.

Edited January 3, 2014 by Gsxrnz

[Jingthing]

Sterling.

[NoshowJones]

Transfer Sterling always!!!!

Thai banks give a much better exchange rate. Your UK bank could take a Baht or more off you if you send Baht from the UK.

Thanks mate, I will do that.

[NoshowJones]

Sterling.

Thanks Jingthing and I hope you and your family Had a good new year.

[redcardave]

send sterling never transfer to bht in the u.k.wait till it gets to thailand then transfer

[cassde]

Which bank do you use in Thailand? If Bangkok Bank then use their London office to send sterling to your account in BKK. Fees are better than most.

[IMA_FARANG]

Always transfer in Sterling if possible and let your Thai bank make the exchange at their exchange rate.

You'll always do better that way.

[Pib]

Well your sending bank would much prefer you transfer in baht (i.e., allow them to do the conversion from sterling to baht) because due to the lower exchange rate they will give you in comparison to the Thai bank TT Buying Rate used for incoming wire transfers your sending bank will make around a 3% profit due to their lower exchange rate (basically a hidden transfer fee). Summary: always send in sterling.