Advice best way to transfer money from UK to buy property in Thailand

[KittenKong]

Just to point out, gifts within marriage are considered "conditional" by Thai divorce courts.

If you get divorced, you can ask for any gifts to be returned, if you have evidence of the gift for a judge, he will give it back to you.

Guesthouse is correct in suggesting records are useful.

So what happens when the two parties have already signed the document for the land office declaring that the wife was using her own money?

I am delighted that I will never have to open this particular can of worms.

[KittenKong]

i dont think you need an FET certificate if the money from the uk goes into an F.C.D. ( foreign currency deposit accountaccount) with a thai bank

You dont get an FET form for that because there is no forex transaction. But at the same time if you want to register a condo in your own name then you will at some point need to do the exchange to Baht and get the FET form for it.

None of which is relevant to the OP anyway as he is not buying a condo in his own name.

[AnotherOneAmerican]

Just to point out, gifts within marriage are considered "conditional" by Thai divorce courts.

If you get divorced, you can ask for any gifts to be returned, if you have evidence of the gift for a judge, he will give it back to you.

Guesthouse is correct in suggesting records are useful.

So what happens when the two parties have already signed the document for the land office declaring that the wife was using her own money?

I am delighted that I will never have to open this particular can of worms.

That document doesn't stand up in divorce court.

Everyone knows the foreigner is lying.

[feasantplukka]

Just to clarify things I have 2 youngsters if any divorce takes place in the future i would be willing to walk away from the property as the children would inherit it later

[sandmike]

I transfer money regularly from the UK to Thailand ..

I'm just waiting for my registration to clear with UKforex, so I can use them.

I have a Bangkok Bank account in Thailand, so I feel I have 3 options :-

1. SWIFT transfer from my UK bank to Thailand in Sterling. (cannot do online AFAIK for my bank).

2. Transfer from my UK bank in sterling through Bangkok Bank in London to my account in Thailand (£20 charge). This is done online, instructions are on the Bangkok Bank website.

3. Transfer from my UK bank via UKforex. (£7 charge under £3000). I understand this takes a phone call to agree the rate, not done this yet, and an online transfer to UKforex.

I've been tracking the exchange rates, and for £2500 transferred, UKforex appears to better the Bangkok bank rate by approx. 1500 baht on the £2500.

I know the rates can change between the two, UKforex locks in the rate, Bangkok Bank you get the prevailing rate when your sterling lands in Bangkok, up to 2 days after your transfer.

Hope this helps, Cheers

[meatboy]

I transfer money regularly from the UK to Thailand ..

I'm just waiting for my registration to clear with UKforex, so I can use them.

I have a Bangkok Bank account in Thailand, so I feel I have 3 options :-

1. SWIFT transfer from my UK bank to Thailand in Sterling. (cannot do online AFAIK for my bank).

2. Transfer from my UK bank in sterling through Bangkok Bank in London to my account in Thailand (£20 charge). This is done online, instructions are on the Bangkok Bank website.

3. Transfer from my UK bank via UKforex. (£7 charge under £3000). I understand this takes a phone call to agree the rate, not done this yet, and an online transfer to UKforex.

I've been tracking the exchange rates, and for £2500 transferred, UKforex appears to better the Bangkok bank rate by approx. 1500 baht on the £2500.

I know the rates can change between the two, UKforex locks in the rate, Bangkok Bank you get the prevailing rate when your sterling lands in Bangkok, up to 2 days after your transfer.

Hope this helps, Cheers

what rate are you quoting[ukforex] cash or telex trans.there is a big difference.

[charliebadenhop]

Yes, I am also wanting to understand which rate is getting quoted, and by whom?

So for instance- With BKK is the electronic transfer rate being quoted or the rate for cash?

Anyone know the name of a service similar to UKforex out of the States?

What would I be googling for?

[sandmike]

OK guys, good questions ...

On the front page of the UKforex website it says - 'no cash transactions' - the rate is therefore Telex Transfer, or the equivalent. The rate I've used for my comparisons is that quoted on their front page at top left when you select 'THB Thai baht'.

Bangkok Bank, the money arrives electronically, nobody takes my cash and walks into the bank. - the rate is therefore Telex Transfer. In fact it seems to be slightly better than the TT rate quoted.

If I was changing cash I'd be going to 'Super Rich' in Ratchadamnoen. I can't do that easily as I'm not in Thailand.

Bangkok Bank have a branch in New York, I believe you can transfer dollars through them. I've seen this discussed elsewhere on ThaiVisa.

Remember that Bangkok Bank will deduct 500baht in Thailand to handle your incoming foreign funds.

For Thai bank rate comparisons take a look at

http://bankexchangerates.daytodaydata.net/default.aspx

(I hope the mods don't object to the link)

[sandmike]

Charliebadenhop ....

Guess what ... you could try googling USforex, and see what happens ....

[feasantplukka]

Get a Siam comm bank account transfer from HSBC in GBP to SCB HSBC charge £4.00 no fee this end money in

SCB less than 24 hours easy peasy..

Hi I have been trying to send money this way to my wifes sister who is with Kasikorn bank but HSBC keep asking for the IBAN account number, which Kasikorn do not know what she is requesting,

How did you find the IBAN number to send money to your Thai Bank, it is turning into a nightmare, solve my problem please

[feasantplukka]

I Bank with HSBC , It costs me £4 to transfer any sum up to £50,000 to my Bankok Bank Account , I action it transfer one day and it's in my BKK account the following morning ,Transfer in sterling then you get the rate of the day with BKK, (don't let them talk you into Thai Baht) Great service , I can't say anything else good about HSBC though !

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I am in the process of transferring through HSBC to Kasikorn Bank but on internet banking HSBC it asks for the IBAN code, which Kasikorn Bank have not given me & don't know what IBAN code is, so my question to you is how do I get round it or is there a solution to the problem?? I am confused.com