Money Transfer from u.k.

[srn89]

I read recently on Thai Visa some information regarding money transfer from the U.K to Thailand,

It advised transferring money to the Bangkok Bank in London

So, if i transfer money to the Bangkok Bank from my bank which at present i use for transferring funds, it will be transferred in Pounds Sterling,( i do have an account with the Bangkok Bank here in Thailand )

The article stated that i could then draw funds from the Bank here in Thailand, Questions are,

1. Does the Bank in the U.K. automatically change the Sterling to Thai Baht on receipt of the Sterling Transfer into the account

2. What rate would they use, a normal rubbish bank exchange rate or the same rate as used here for receiving a T.T. which i believe is up to 500.00 Baht,

When you consider my Bank charges 17.00 Pounds Sterling to Transfer plus the ''Handling rate of up to 500.00 Baht ( i believe) it equates to a considerable amount of money each year.

If anyone uses this method at present please give us the information that you have.

Incidentally the H.S.B.C. have again changed the format for transfers and Sterling can again be sent rather than as it has been for a few months whereas ''no box was available for Pounds Sterling Transfers''

Thanks and Regards to all that can assist with constructive information.

[true blue]

i always use hsbc(12years) you get the tt rate of the day 24 hour turn round never seemed to notice the bangkok bank charges,you could and propaly would get 54baht to the pound if done today.

[eyecatcher]

The important thing is to send the money in sterling.

I always write "do not convert" on the form to be sure.

The bank here will covert at the banks better rate into thai baht.

As it will be a couple days later you don't know the rate but if you change in uk, they take a cut here there everywhere.

My bank has a flat rate charge of £25 to send any amount upto 25k no other charges.

[true blue]

The important thing is to send the money in sterling.

I always write "do not convert" on the form to be sure.

The bank here will covert at the banks better rate into thai baht.

As it will be a couple days later you don't know the rate but if you change in uk, they take a cut here there everywhere.

My bank has a flat rate charge of £25 to send any amount upto 25k no other charges.

which bank is that major banks have a 10k limit to send,

[Jip99]

This is what you are asking about. Money is sent by BACS from your bank to BKB London. Then you have a choice - send it in Sterling for a higher charge and benefit from 'offshore' rates or take the BKB London rate (usually pretty fair). Either way the money is in your Thai account the next working day.

i would recommend that you send Sterling for anything over GBP 1,000.

Details here:-

http://www.bangkokbank.com/bangkokbank/personalbanking/dailybanking/transferingfunds/transferringintothailand/receivingfundsfromuk/Pages/ReceivingFundsfromUK.aspx

[Thighlander]

the fee bkk bank charges is .1%, with a 200thb minimum and a 500 thb max. So it maxes out at 500,000 thb. For amounts less than 50,000 thb, it might be better to just use Aeon...if you have a no fee ATM, but their rates will be a very small amount less than TT. I the US, I do an ACH transfer to BKKBank NY and it is free, but it's not practical for small amounts like 20,000 thb, because bkkbank will take their 200 thb.

[eyecatcher]

The important thing is to send the money in sterling.

I always write "do not convert" on the form to be sure.

The bank here will covert at the banks better rate into thai baht.

As it will be a couple days later you don't know the rate but if you change in uk, they take a cut here there everywhere.

My bank has a flat rate charge of £25 to send any amount upto 25k no other charges.

which bank is that major banks have a 10k limit to send,

Really? Mine is not one of the major banks and there is no problem sending 25 in one go.

10k wouldn't last too long if you sent it to..say Dubai.

Just check that's not the limit on getting travel currency.

[beau thai]

I use the method you ask about- bangkok bank in london. Look at their website which has very clear instructions.

They offer you 2 sort codes to send the money to from your bank-one if you want to send in Baht (BKK convert in London) or the second if you want it sent in sterling and they convert in Thailand. The latter is better as the rate reflects the fact that Thailand want sterling more than UK want Baht-no surprise eh?!

So I transfer to Bangkok Bank in London Online and the transfer nomally arrives 2 business days later at the outside-sometimes faster.

Their site details charges etc.