Cheapest ways to send money UK to Thailand

[mja1906]

I've seen some very old threads about this (now archived), just wondering what the latest is, on the cheapest+safest way to send money from UK to Thailand

Also looking for a relatively quick transfer as I might need the funds soon.

I have a Nationwide account with atm card, don't know if that helps.

[theoldgit]

The easiest and most secure way is by electronic transfer from a UK bank to a Thai bank, the funds would normally be available in your Thai bank the following day.

I think the Nationwide charges £20 per transaction and then there will be a smaller charge at the Thai end. Other banks are cheaper, so if you were doing it on a regular basis it might be worth changing banks.

You could use your atm card, ok for a one off or small amounts, but the charges both ends means that it's not really cost effective long term.

[The Fat Controller]

My last SWIFT transfer from Nationwide was processed very quickly.

Form filled using online banking at 4pm UK time, money received following day at just after 9am UK time.

Can confirm the previous post, £20 charge from NW, make sure you specify "additional charges from receiving account"

SCB charge was 500 Baht as it was a large transfer. Their charges are 0.25% with a minimum of 200 or 300 Baht, maximum is 500 Baht.

[petermik]

Halifax Bank online transfers up to £75,000 charge £9.50 plus a charge of 300/500 baht is taken by the Thai Bank

[mfharrison]

i used the bangkok bank method for a few grand not so long back and it all worked out fine.

here is a link to the specifics

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

[apetley]

HSBC transfer to Thai bank is only 4 pounds.

[sustento]

I use Caxton Fastpay from my Nationwide account to a Bangkok Bank account. Exchange rate slightly poorer but no charges and Bangkok Bank have never charged for receiving the transfer. Works out about the same as a Swift transfer costwise and takes 2 or 3 days.

[DavidMavec]

Cheaper than all of these is Skrill.com.

[sustento]

Cheaper than all of these is Skrill.com.

Just looked on their website. Thailand isn't one of the countries that money can be transferred to.

[sustento]

Caxton's rate as of now is 50.73 with no charges.

[DavidMavec]

Cheaper than all of these is Skrill.com.

Just looked on their website. Thailand isn't one of the countries that money can be transferred to.

You are wrong, I did it twice last month (and maybe 50 times before that). You need to have a Thai bank account and an account in your home country and it is almost exactly the same as doing a standard transfer, easy as pie.

[sustento]

I looked here. Thailand isn't on the drop down list. How much does a transfer cost? Is there any minimum amount?

https://www.skrill.com/skrillit/?locale=en

[gk10002000]

I have used Western Union before and I thought it was easy and decently priced. currently online, 2500USD will transfer at 80375 baht. 32.125 is their estimated exchange rate. 77290 baht is also listed so I am not sure which value gets to Thailand. The charge will be $45 USD. The western union website says 2999 is all they allow to be transferred at once. So might have to wait a few days or use a different account, etc. to send more.

[mja1906]

HSBC transfer to Thai bank is only 4 pounds.

Wow, really is it ? That's very cheap, I'll have to check that one out

[DavidMavec]

I looked here. Thailand isn't on the drop down list. How much does a transfer cost? Is there any minimum amount?

https://www.skrill.com/skrillit/?locale=en

Transfers are 2.95 EUR, not sure why it is not on the list. I don't know about the minimum but I am sure it is less than 100 GBP. Give customer service a call, they are quite helpful.

[DavidMavec]

I have used Western Union before and I thought it was easy and decently priced. currently online, 2500USD will transfer at 80375 baht. 32.125 is their estimated exchange rate. 77290 baht is also listed so I am not sure which value gets to Thailand. The charge will be $45 USD. The western union website says 2999 is all they allow to be transferred at once. So might have to wait a few days or use a different account, etc. to send more.

The fees are absurd for Western Union and there are much better options.

[sustento]

I looked here. Thailand isn't on the drop down list. How much does a transfer cost? Is there any minimum amount?

https://www.skrill.com/skrillit/?locale=en

Transfers are 2.95 EUR, not sure why it is not on the list. I don't know about the minimum but I am sure it is less than 100 GBP. Give customer service a call, they are quite helpful.

Can I ask where your home country is? Mine is the UK and I'm wondering if Thailand doesn't appear on the list because of that.

[Jip99]

Caxton's rate as of now is 50.73 with no charges.

I got 51.71 with World First.

[chiang mai]

HSBC, £4 per transfer, can't be beat.

[Jip99]

HSBC, £4 per transfer, can't be beat.

Yes it can.

[chiang mai]

HSBC, £4 per transfer, can't be beat.

Yes it can.

Oh no it can't.

[apetley]

HSBC transfer to Thai bank is only 4 pounds.

Wow, really is it ? That's very cheap, I'll have to check that one out

Yes, very good deal right now and always in my Kasikorn account the next working day, within a few hours on a couple of transfers.

Always transfer sterling and let the Thai bank convert to bht.

[Jip99]

HSBC, £4 per transfer, can't be beat.

Yes it can.

Oh no it can't.

Oh yes it........................................... oh what the heck!

Does zero beat £4 ?

[Jip99]

HSBC transfer to Thai bank is only 4 pounds.

Wow, really is it ? That's very cheap, I'll have to check that one out

Yes, very good deal right now and always in my Kasikorn account the next working day, within a few hours on a couple of transfers.

Always transfer sterling and let the Thai bank convert to bht.

The speed is a real advantage and my last four transfers with HSBC have been within hours. It gives you a really good shot at calculating the likely exchange rate (in my case from Kasikorn's daily rate sheet online).

I have the added benefit that I am not charged by HSBC.

Notwithstanding that, I have recently been trialing World First who have no transfer charge (they rely on making money on the exchange rate margin). This week when Kasikorn were quoting a TT exchange rate of 51.69 (need to deduct handling costs from that 0.25% max 500 Bt + 0.1% + 20 Bt) World First gave me 51.71. The only deduction from that is the Kasikorn 'clean inward payment' charge which last time was 225 Baht (about 0.13% of the transfer value).

The benefit is that I have fixed my rate at a figure acceptable to me. The one disadvantage is the 3rd working day for receipt - I also cocked up because I didn't realise that today was a bank holiday! If you don't need to worry about waiting for your money then I would certainly recommend looking at World First.

[chiang mai]

HSBC, £4 per transfer, can't be beat.

Yes it can.

Oh no it can't.

Oh yes it........................................... oh what the heck!

Does zero beat £4 ?

Zero is not a number hence no, it does not.

http://math.stackexchange.com/questions/238737/why-do-some-people-state-that-zero-is-not-a-number

BTW are you free for panto. this season.

[Jip99]

Yes it can.

Oh no it can't.

Oh yes it........................................... oh what the heck!

Does zero beat £4 ?

Zero is not a number hence no, it does not.

http://math.stackexchange.com/questions/238737/why-do-some-people-state-that-zero-is-not-a-number

BTW are you free for panto. this season.

He's behind you........................................

I can state categorically that Free, Nil, zilch and even zero are all better charges than 4 Quid!

[chiang mai]

Oh no it can't.

Oh yes it........................................... oh what the heck!

Does zero beat £4 ?

Zero is not a number hence no, it does not.

http://math.stackexchange.com/questions/238737/why-do-some-people-state-that-zero-is-not-a-number

BTW are you free for panto. this season.

He's behind you........................................

I can state categorically that Free, Nil, zilch and even zero are all better charges than 4 Quid!

At what rate of exchange, vis a vis local preferred and often negotiable TT rates, based on larger amounts?

Apologies if you've already told us.

[Jip99]

Oh yes it........................................... oh what the heck!

Does zero beat £4 ?

Zero is not a number hence no, it does not.

http://math.stackexchange.com/questions/238737/why-do-some-people-state-that-zero-is-not-a-number

BTW are you free for panto. this season.

He's behind you........................................

I can state categorically that Free, Nil, zilch and even zero are all better charges than 4 Quid!

At what rate of exchange, vis a vis local preferred and often negotiable TT rates, based on larger amounts?

Apologies if you've already told us.

Post 24 pretty much covered it:-

The speed is a real advantage and my last four transfers with HSBC have been within hours. It gives you a really good shot at calculating the likely exchange rate (in my case from Kasikorn's daily rate sheet online).

I have the added benefit that I am not charged by HSBC.

Notwithstanding that, I have recently been trialing World First who have no transfer charge (they rely on making money on the exchange rate margin). This week when Kasikorn were quoting a TT exchange rate of 51.69 (need to deduct handling costs from that 0.25% max 500 Bt + 0.1% + 20 Bt) World First gave me 51.71. The only deduction from that is the Kasikorn 'clean inward payment' charge which last time was 225 Baht (about 0.13% of the transfer value).

The benefit is that I have fixed my rate at a figure acceptable to me. The one disadvantage is the 3rd working day for receipt - I also cocked up because I didn't realise that today was a bank holiday! If you don't need to worry about waiting for your money then I would certainly recommend looking at World First.

chiang mai - I was going to PM you but I appear to be blocked ?

Edited October 24, 2014 by Jip99

[chiang mai]

Zero is not a number hence no, it does not.

http://math.stackexchange.com/questions/238737/why-do-some-people-state-that-zero-is-not-a-number

BTW are you free for panto. this season.

He's behind you........................................

I can state categorically that Free, Nil, zilch and even zero are all better charges than 4 Quid!

At what rate of exchange, vis a vis local preferred and often negotiable TT rates, based on larger amounts?

Apologies if you've already told us.

Post 24 pretty much covered it:-

The speed is a real advantage and my last four transfers with HSBC have been within hours. It gives you a really good shot at calculating the likely exchange rate (in my case from Kasikorn's daily rate sheet online).

I have the added benefit that I am not charged by HSBC.

Notwithstanding that, I have recently been trialing World First who have no transfer charge (they rely on making money on the exchange rate margin). This week when Kasikorn were quoting a TT exchange rate of 51.69 (need to deduct handling costs from that 0.25% max 500 Bt + 0.1% + 20 Bt) World First gave me 51.71. The only deduction from that is the Kasikorn 'clean inward payment' charge which last time was 225 Baht (about 0.13% of the transfer value).

The benefit is that I have fixed my rate at a figure acceptable to me. The one disadvantage is the 3rd working day for receipt - I also cocked up because I didn't realise that today was a bank holiday! If you don't need to worry about waiting for your money then I would certainly recommend looking at World First.

chiang mai - I was going to PM you but I appear to be blocked ?

Thanks for that Jip'.

You're are not blocked, everyone is blocked, far too many head cases out there, it's getting worse than I've ever seen/imagined - it's not personal.

Just wanted to get that message across, I'll respond to the topic in due course.

[Jip99]

Oh yes it........................................... oh what the heck!

Does zero beat £4 ?

Zero is not a number hence no, it does not.

http://math.stackexchange.com/questions/238737/why-do-some-people-state-that-zero-is-not-a-number

BTW are you free for panto. this season.

He's behind you........................................

I can state categorically that Free, Nil, zilch and even zero are all better charges than 4 Quid!

At what rate of exchange, vis a vis local preferred and often negotiable TT rates, based on larger amounts?

Apologies if you've already told us.

The funds from the UK were credited at lunchtime today and K Bank deducted 265 Baht handling charge.

That gave me a net rate on the transaction of 51.63 (the TT rate was 51.69 at K Bank at the time of the transaction, which would have yielded 51.52 net). I was 416 Baht better off on a £3,200 transfer.