Best Bank for UK/Thai Transfer and in general

[angelsephemera]

Recommend a bank.

Maybe best to move money in sterling then convert it, right?

[expatbrat]

I use the Bangkok bank, I find them very good, your bank in UK however may give you problems like mine did.

 

[thepool]

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUK/Pages/ReceivingFundsfromUK.aspx

 

Take look at the link. 

 

A cost effective and quick service.

 

You will need to be signed up for internet banking in the UK and Thailand . 

 

 

Should not be a problem for any UK bank as the initial transfer appears as a simple in country bank/bank transfer. 

[angelsephemera]

Now have a Bangkok Bank account- but UK bank has locked me out of my online banking, and don't answer the phone- makes me livid

Edited April 26, 2014 by angelsephemera

[briley]

From the UK end use Halifax - £9.50 for an international transfer and can be done on the website.

 

Also Halifax has a freephone number (use saynoto0870 to find it) if you need to phone them - probably essential to set up the first transfer but free on Skype.

 

Yes, transfer sterling and convert in Thailand.

 

Bangkok bank charges 500 Baht for incoming money. It is credited next day but you don't see it until the 3rd day on your account.

[Ricardo]

Agree, transfer in Sterling and convert upon-arrival, invariably you will get a better rate.

 

I find HSBC-Jersey to SCB-ChiangMai takes 1-2 working-days FWIW.

[rawhod]

Bangkok Bank for easy transfer received next day. My bank in UK charges £20. Bangkok bank charges min 200 baht on a sliding scale up to a max 500 baht (I think)

[angelsephemera]

Thanks.

Maybe I will bring 8000GBP cash on the plane and change it here!

[angelsephemera]

lloyds 17.50

[worgeordie]

I think Bangkok Bank is the best for transfers,don't use

SCB  they could never give me any paperwork with regards

to who sent the money,exchange rate,any extra charges,

 

regards Worgeordie

[worgeordie]

Thanks.

Maybe I will bring 8000GBP cash on the plane and change it here!

Bringing that much cash to a drug exporting country,you will

have a lot of hassle if they find it at your point of departure, 

to protect your self make sure you have solid proof of the 

source of the cash,you think the moneys yours until you try

and do something with it,thats the way it is in todays world.

 

regards Worgeordie

[Jip99]

lloyds 17.50

 

Can you send Sterling from Lloyds (you can only send Baht online with HSBC)

 

 

Halifax GBP 9.50

[Jip99]

Bangkok Bank for easy transfer received next day. My bank in UK charges £20. Bangkok bank charges min 200 baht on a sliding scale up to a max 500 baht (I think)

 

Fees and conversion options

The following fees are charged for fund transfers initiated via the Faster Payments Service or BACS:

 

Conversion Options

(Select the appropriate "clearing service accounts" or indicate your preference when registering for the service with Bangkok Bank, London)

 

When transferring funds
in Baht: 92 00 10 00

When transferring funds
in Pound Sterling:
92 00 20 00

Exchange rate applied

Pounds Sterling converted to Thai Baht using the London Branch's exchange rate

Pounds Sterling converted to Thai Baht using the daily TT buying rate at Bangkok

Transfer fees (Bangkok Bank London branch)

GBP 15

GBP 20

Transfer fees (Bangkok Bank Thailand)

No transfer fees

An additional international fee of 0.25% of the transferred amount will be deducted by Bangkok Bank Thailand before crediting funds to recipient account (minimum 200Bt, maximum 500Bt).

Funds will be received in Thailand the next working day after the funds are received by Bangkok Bank in London.

 

[angelsephemera]

Yes as far as I can see Lloyds offers a sterling option at no extra cost.

[Ricardo]

Thanks.

Maybe I will bring 8000GBP cash on the plane and change it here!

 

Note that, while you used to be able to take up-to GBP10k out of the UK without declaring it, the limit is now EUR 10k, so GBP8k might be 'pushing your luck'.

[Jip99]

 

Thanks.

Maybe I will bring 8000GBP cash on the plane and change it here!

 

Note that, while you used to be able to take up-to GBP10k out of the UK without declaring it, the limit is now EUR 10k, so GBP8k might be 'pushing your luck'.

 

 

Thanks - I didn't know that.

 

It is all here for anyone who doubts it:-

 

 

http://www.hmrc.gov.uk/customs/arriving/declaring-cash.htm

[sean in udon]

Thanks.
Maybe I will bring 8000GBP cash on the plane and change it here!

Bringing that much cash to a drug exporting country,you will
have a lot of hassle if they find it at your point of departure, 
to protect your self make sure you have solid proof of the 
source of the cash,you think the moneys yours until you try
and do something with it,thats the way it is in todays world.
 
regards Worgeordie

If you have the option, bring the cash. No bank fees, no waiting and excellent exchange rate available in Thailand.

The exchange rate varied, but my first 2 trips to Thailand involved £8,000ish being carried in my hand luggage. Both times I checked the exchange rate on the day I was flying and brought the maximum with me.
No questions asked.
You will risk having problems if you go over the 10,000 euro limit and don't declare it. Anything upto that amount and you don't have to prove anything.
If you want to bring more than £8,000 be proactive. Have paperwork available and tell customs at your departure airport 2 or 3 weeks before you fly. Ask if you can send copies of paperwork to them in advance.

If you don't declare over £8.000 and they find it, they can seize it, but then the onus is on them to prove it came from an illegal source. As far as I am aware, if they can't prove it's drug money, etc, they have to give it back. Downside of that is. you've missed your flight.

There's no reason to be afraid of customs if you are walking on the right side of the law. They do checks to catch dodgy people, if you are not dodgy they have no reason, or excuse, to cause you problems.

All of this is based on my experiences with customs and questions I specifically asked them regarding carrying cash.

Be brave! Bring the cash.


Sent from my iPhone using Thaivisa Connect Thailand

[Jip99]

 

 

Thanks.
Maybe I will bring 8000GBP cash on the plane and change it here!

Bringing that much cash to a drug exporting country,you will
have a lot of hassle if they find it at your point of departure, 
to protect your self make sure you have solid proof of the 
source of the cash,you think the moneys yours until you try
and do something with it,thats the way it is in todays world.
 
regards Worgeordie

If you have the option, bring the cash. No bank fees, no waiting and excellent exchange rate available in Thailand.

The exchange rate varied, but my first 2 trips to Thailand involved £8,000ish being carried in my hand luggage. Both times I checked the exchange rate on the day I was flying and brought the maximum with me.
No questions asked.
You will risk having problems if you go over the 10,000 euro limit and don't declare it. Anything upto that amount and you don't have to prove anything.
If you want to bring more than £8,000 be proactive. Have paperwork available and tell customs at your departure airport 2 or 3 weeks before you fly. Ask if you can send copies of paperwork to them in advance.

If you don't declare over £8.000 and they find it, they can seize it, but then the onus is on them to prove it came from an illegal source. As far as I am aware, if they can't prove it's drug money, etc, they have to give it back. Downside of that is. you've missed your flight.

There's no reason to be afraid of customs if you are walking on the right side of the law. They do checks to catch dodgy people, if you are not dodgy they have no reason, or excuse, to cause you problems.

All of this is based on my experiences with customs and questions I specifically asked them regarding carrying cash.

Be brave! Bring the cash.


Sent from my iPhone using Thaivisa Connect Thailand

 

 

Good advice.

 

 

My only fear would be carrying that much cash around.

 

I prefer the security of remitting Sterling direct to a bank account. It would not be convenient for me to cart a load of 50's to Super Rich or some exchange booth - the costs could quickly out-weigh marginal savings in the rate.

 

I netted 54 this week on a bank transfer. I think Super Rich are quoting 54.5 so on GBP 8,000 the benefit is 4,000 Baht. Certainly worth having if you are happy carrying 8 Grand Sterling then 436k Baht AND it is convenient to get to a SR office.
 

[sean in udon]

Brain's a bit slow today.

Forgot to add the experience of a Brit and his Thai wife. They live in the UK and are currently having a house built in Thailand.

When they come to Thailand, they both bring £8,000 over to make payments. Initially for the land and then for the build of their house.

Again, no problems. No questions.



Sent from my iPhone using Thaivisa Connect Thailand

[chiang mai]

 

lloyds 17.50

 

(you can only send Baht online with HSBC)

 

 

 

 

 

Since when? I transfer Sterling to Thailand a couple of times a year using HSBC online.

[sean in udon]

 

lloyds 17.50

 
(you can only send Baht online with HSBC)
 
 
 
 

 
Since when? I transfer Sterling to Thailand a couple of times a year using HSBC online.

My first experience of sending money online via Halifax was you could only send Thai baht.
But it's an illusion.
Because it's an international transfer, their systems automatically switch the currency to whatever country you select. And automatically give you their crappy exchange rate.
You can change from Thai baht to
sterling but you get warnings pop up about charges that may occur and problems that the receiving bank may have accepting sterling.

In other words don't change to sterling because we want to screw you with our crappy exchange rate.


Sent from my iPhone using Thaivisa Connect Thailand

[chiang mai]

A person would need to be seriously retarded to convert from Sterling to THB in the UK. I was looking at the spread on THB in Travelex at Gatwick last month, it was something like eighteen baht between buy and sell, outrageous.

[Jip99]

 

 

lloyds 17.50

 

(you can only send Baht online with HSBC)

 

 

 

 

 

Since when? I transfer Sterling to Thailand a couple of times a year using HSBC online.

 

 

CM - I think you are offshore if I recall correctly.

 

With HSBC in the UK there is no GBP option. The system will only allow you to select a 'foreign currency' or a GBP equivalent.

 

Have a guess at how good the exchange offered are ????
 

[chiang mai]

 

 

 

lloyds 17.50

 

(you can only send Baht online with HSBC)

 

 

 

 

 

Since when? I transfer Sterling to Thailand a couple of times a year using HSBC online.

 

 

CM - I think you are offshore if I recall correctly.

 

With HSBC in the UK there is no GBP option. The system will only allow you to select a 'foreign currency' or a GBP equivalent.

 

Have a guess at how good the exchange offered are ????
 

 

 

No, I bank with HSBC London and Hong Kong and the last time I made a Sterling transfer to Asia was eleven months ago, if it's changed it has done so since that date but actually, I don't believe it has.

[Jip99]

 

 

 

(you can only send Baht online with HSBC)

 

 

 

 

 

Since when? I transfer Sterling to Thailand a couple of times a year using HSBC online.

 

 

CM - I think you are offshore if I recall correctly.

 

With HSBC in the UK there is no GBP option. The system will only allow you to select a 'foreign currency' or a GBP equivalent.

 

Have a guess at how good the exchange offered are ????
 

 

 

No, I bank with HSBC London and Hong Kong and the last time I made a Sterling transfer to Asia was eleven months ago, if it's changed it has done so since that date but actually, I don't believe it has.

 

 

Call me a liar by all means but as I worked for them for 30 years I am familiar with their systems.

 

I have been online this morning using the 'send money overseas' option and what I described is exactly what I got - no GBP option.
 

[chiang mai]

I just logged on to HSBC UK and was allowed to send GBP from HSBC UK to my UOB account in Thailand, funds sent in GBP Note: I cancelled the transaction before stage 3 but all it needed was for me to say OK. Note also, my Asian bank accounts are already set up as beneficiary accounts within HSBC UK.

[Jip99]

I just logged on to HSBC UK and was allowed to send GBP from HSBC UK to my UOB account in Thailand, funds sent in GBP Note: I cancelled the transaction before stage 3 but all it needed was for me to say OK. Note also, my Asian bank accounts are already set up as beneficiary accounts within HSBC UK.

 

Two possibilities:-

 

I had to create my Thai account as beneficiary (I seriously doubt this would affect it).

 

Are you a Premier customer - that might make a difference but I cannot understand why HSBC would operate 2 seperate payment systems ??

 

Email to the systems boys I think.

[chiang mai]

From the HSBC UK home page:

 

"Exchange rate certainty By making the payment in the currency of your beneficiary's account you will know the exchange rate applied. If you choose to make the payment in sterling we will not be able to predict the exchange rate the overseas bank will use".

 

 

 

https://www.hsbc.co.uk/1/2/international-money-transfer?HBEU_dyn_lnk=PIBLogOff_Banking_RelatedContent_Slot3

[thepool]

<script type='text/javascript'>window.mod_pagespeed_start = Number(new Date());</script>

 

From the HSBC UK home page:

 

"Exchange rate certainty By making the payment in the currency of your beneficiary's account you will know the exchange rate applied. If you choose to make the payment in sterling we will not be able to predict the exchange rate the overseas bank will use".

 

 

 

https://www.hsbc.co.uk/1/2/international-money-transfer?HBEU_dyn_lnk=PIBLogOff_Banking_RelatedContent_Slot3

 

 

Interpretation !   We wish to rip you off with an inferior exchange rate  ! 

 

[chiang mai]

I've spent the past hour or more trying to understand the HSBC UK transfer issue, despite having been able to select "GBP" on my first attempt I have been met with "GBP Equivalent" on my three subsequent attempts, all really odd.

 

Yes I was a Premier account holder until fairly recently when I relinquished the account in favour of a basic HSBC account and today was the first time I had attempted a trial transfer in my new status.

 

According to the HSBC documentation, I should not be allowed to transfer GBP overseas via the internet, I can however do so by making a telephone transfer which costs £40 rather than the £4 via the online system, what a surprise!

 

I'm curious, what rate did you (Jip) get for a GBP/THB online transfer via HSBC UK?

 

If all the above is correct, I guess the way forward is to use BBK London for the overseas transfers using the local UK transfers facility of HSBC UK to accomplish that.

 

Whatever changed at HSBC, if indeed anything did (Post 21 seems to confirm my initial experience this morning) must have done so very quietly within the past eleven months.

 

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

 

 

 

 

 

Edited May 3, 2014 by chiang mai