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Sending money from SCB to UK bank (HSBC)


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A few questions for those in the know:

My thai GF is want to send me a monthly allowance of 30000 baht (£600) from her SCB account to my HSBC account in the UK. Do you know what the bank charges would be (HSBC/SCB) to do this? Is it best to send it in thai baht and let the UK bank do the conversion? Is this the best/cheapest way to send the money?

Thanks in Advance

Bobby

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Use Swift. Typically about 500 baht from this end. IME, Thai banks will only let you transfer in pounds (from a standard account) so they make the cut on the exchange.

/ sorry, meant they convert to sterling from this end //

Edited by daveAustin
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You can not transfer Thai baht. I transfer USD using Krung Thai Bank on a regular basis to both the US and China. KTB charges 300 baht, but there is a "postage charge" of 900 baht added each time and I've never been able to get anyone to explain what that's for. I've transferred as much as $30000 and as little as $300 and the charge has always been the same, 1200 baht. I'm looking at the transfer slip from yesterday, I transferred $1745 to the US, the charge was 1200 baht!

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Can't speak to SCB, but at Bangkok Bank their website shows a fee of Bt1,150 and then of course you will also have the hidden fee of around 1% in converting the baht to the foreign currency to send. So, when the transaction dust settles sending 30,000 baht would cost around Bt1,450. I expect SCB's transaction costs would be very similar.

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I transferred $400 in person at SCB in Thailand to travel agent in Phnom Penh. I prepaid all bank fees both sides, but when transaction finished, they say sorry but fees higher than we told you. About $50 + exch. To make worse, recipient bank still took $10 fee and travel agent refused to proceed till I made good on the $10. Two visits to SCB at Kad Suan Kaew, Chiang Mai duplicating complaint and document submission they did not reply. Complained on their Facebook. SCB Rep asked for yet another submission. Still no reply to that or a follow up. They are a bad bank so be careful and their fees outrageous even at initially quoted level. But if something goes wrong, do not hope for any kind of support from them. Please be very carefully as a repeating transaction will be open for more error.

p.s. I had $500 cash at the time, but they said I would have to exchange with them to baht AND back to USD through THEM in order to effect the transfer!

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Yeap, in addition to the Sending bank fee(s) there will probably be a Receiving bank fee since this is an international transaction. Kinda like how Thai banks charge in the neighbor hood of 0.25% (Bt200 min, Bt500 max) for incoming wire transfers. The OP would need to check with his Receiving bank to see what the fee may be; usually trying to pay the fee upfront from the Sending bank ends up costing you more.

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Get her to send it my Thai bank account (about 25/35 Baht fee).

When I have the money I will then transfer from my HSBC account to yours (immediate crediting and no fee) at the TT rate for the day.

I will charge £10 for the work involved.

Simple.

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