moving 6 milion baht from kasikorn to uk bank.

[KonaRain]

One of the gentleman said that tranferring the funds to a stock account..even while buying no stock, would be a way to repatriate your money..if I recall accurately.

Is there a way to make money by buying another currency that is pegged differently..such as dollars to baht to sterling..or swiss franks..or aare they all relatively equal.

Just wondering..not to hijack the thread..

Aloha to All

[Liquorice]

What's an FET and who supplies it?

[DirtyDan]

One of the gentleman said that tranferring the funds to a stock account..even while buying no stock, would be a way to repatriate your money..if I recall accurately.

Is there a way to make money by buying another currency that is pegged differently..such as dollars to baht to sterling..or swiss franks..or aare they all relatively equal.

Just wondering..not to hijack the thread..

Aloha to All

There is most certainly a way to make money buying another currency: currency trading. Large institutions will move billions of dollars worth of cash amongst several different types of currency to play the 0.00001% differences. But it is incredibly risky even when autistic geniuses are using super computers. And especially considering some posters here can't figure out if you divide into the exchange rate or times by the exchange rate, I would recommend us average people avoid speculating in this way - seriously, we'd have better chances at cockfights.

[Kangaroo29]

Sent 2 mill from thailand to australia in 2013 bank to bank, from memory kasikorn bank (central festival shopping mall pattaya) would only let me send around 1 mill baht per transaction and charged around 1000 baht each time, sent the other mill a few weeks after the first. Overall had no problem with Kasi even though i thought i would encounter some problem.

[djlest]

ive done it and its quite possible
The trick is to transfer around 700,000 baht per time - and in one day i would suggest you go to maybe 3 different banks, kasikorn, scb etc. If they ask what its for say Family support. All Thais understand sending money back home for family and are usually understanding if you smile and charm the bank clerks.
Also, you may have to do it every month - they track how much a foreigner sends home with your passport number, there is a limit usually but ive never triggered it and i send 2 or 3 million this year already.

Check what the limit is to send without needing supporting documents, i think its either 10 or 15,000 euros without the need for proof

[Jiu-Jitsu]

I'm sure that I posted about http://www.superrich1965.com/ and http://superrichuk.com/

superrich don't transfer money internationally. Bank notes only

Super Rich UK do. As to whether they are connected, you'll have to check.

[dirtycash]

thanks guys, i may need this money in uk now to sort a few things. £113,000 i thought i would have got more than that ? 53 to the pound ?

You will not get £113,000 if you transfer bank to a UK bank account you wil be lucky to get £100,000 once the receiving bank take their cut

why nonsensical exaggerations (£13,000 cut)?

namm what would my uk bank give me on todays rates ? 6mill thb to gbp. also i do remember in 2006 i sent 4.5 mill back to uk in one go TT transfer through scb

[chiang mai]

No doubt naam will answer you in due course but your answer is already out there, do yourself a favour and help yourself!

The following link gives you details of the exchange rates for Thai Baht to GBP, via TT, as of now - tomorrow the rates will change.

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

As things stand your 6 million baht will earn you GBP 109,800, less transfer fees of around a few thousand baht (based on the bank and your status with them, this can be in the range of 500 baht to ?).

If you instruct your Thai bank, which ever one you decide to use, to convert your Thai Baht into UK Pounds, there should be no receiving charge by the UK bank - NOTE: some UK banks charge a nominal fee for recieving large deposits.

It's worth noting that since you started talking about this subject you have potentially lost several thousand Pounds, just food for thought.

[emilymat]

I would love to have 6 million!.

Last year I sent 500.000 baht from Bangkok Bank to Barclays in the UK. Pretty simple. I was doing it the other way round to you, bringing it in at around 54 and sending it back at around 48. I'm not a speculator - just getting ready to leave for Spain.

By the way, Bangkok Bank told me my limit was1 million for such a transaction.

[seancbk]

The real issue is how to actually move the money. Kasikorn will not make it easy for you and the BOT rules specify the very limited reasons for which money can be sent abroad. More likely than not you will not qualify.

Personally If I needed to get the money to the UK I would withdraw the cash, change it to physical USD or GBP at a chinese money exchange and physically carry it with me on a plane.

There is no limit to how much cash you can take into the UK, but you do need to declare anything over $10k, its just a formality and nothing to worry about.

You will lose a lot if you do it now, but perhaps you will lose more if you wait longer!

I would physically carry it too.

[Acharn]

thanks guys, i may need this money in uk now to sort a few things. £113,000 i thought i would have got more than that ? 53 to the pound ?

Siam Commercial Bank has an exchange rate web page at http://www.scb.co.th/scb_api/index.jsp. Look under the column labeled "Bank Selling Rates." That's how many baht you have to pay to buy one pound sterling today. I assume you would prefer to make the transfer electronically, so look in the "D/D&T/T" column. Notice you get a better price (fewer baht to buy one pound) that if you buy notes. Take the number of baht you have (or want to transfer) and divide by the number on the web site. That will tell you how many pounds you can buy with the number of baht you have.

I'm sorry I can't tell you about the paperwork needed to get permission to do this, but I'll bet it's going to be troublesome. They really, really, don't like to dip into their foreign currency reserves because of what the IMF did to Thailand in 1997. Your friendly local bank manage should be able to help you, but you may end up having to go to the main headquarters, which I think is on Phayathai Road.

Perhaps I shouldn't say this, but I'm tired and cranky and my feet hurt after a trip to Bangkok, and I don't see how you could have got your hands on so much money with such poor arithmetic skills. Have a nice day.

Edited July 22, 2015 by Acharn

[Naam]

thanks guys, i may need this money in uk now to sort a few things. £113,000 i thought i would have got more than that ? 53 to the pound ?

You will not get £113,000 if you transfer bank to a UK bank account you wil be lucky to get £100,000 once the receiving bank take their cut

why nonsensical exaggerations (£13,000 cut)?

namm what would my uk bank give me on todays rates ? 6mill thb to gbp. also i do remember in 2006 i sent 4.5 mill back to uk in one go TT transfer through scb

Pheat,

your UK bank gives you the exact amount of £ you transfer from Thailand minus perhaps a small fee of £20-30 if a correspondence bank is required. both, the SWIFT fee your Thai bank and any fees the correspondence bank charges are not value based, i.e. you pay the same fees whether you transfer £1,000 or £ 10,000,000. the same applies to transfers from UK to Thailand plus the 500 Baht maximum most Thai banks charge for incoming forex amounts.

note: you transfer Pound Sterling, not Thai Baht. the latter would be of course suicidal.

[meatboy]

thanks guys, i may need this money in uk now to sort a few things. £113,000 i thought i would have got more than that ? 53 to the pound ?

You will not get £113,000 if you transfer bank to a UK bank account you wil be lucky to get £100,000 once the receiving bank take their cut

why nonsensical exaggerations (£13,000 cut)?

namm what would my uk bank give me on todays rates ? 6mill thb to gbp. also i do remember in 2006 i sent 4.5 mill back to uk in one go TT transfer through scb

you would be looking at around 57bht.to buy a gbp.

[meatboy]

scb.close of play yesterday, TT.RATE 54.45,CASH 54.94BHT.TO BUY GBP.

the pound is getting stronger or the baht.is weakening.

the op.is in the pickle.

[Naam]

thanks guys, i may need this money in uk now to sort a few things. £113,000 i thought i would have got more than that ? 53 to the pound ?

You will not get £113,000 if you transfer bank to a UK bank account you wil be lucky to get £100,000 once the receiving bank take their cut

why nonsensical exaggerations (£13,000 cut)?

namm what would my uk bank give me on todays rates ? 6mill thb to gbp. also i do remember in 2006 i sent 4.5 mill back to uk in one go TT transfer through scb

i have no idea but i hope you are not (even in your wildest dreams) planning to transfer Baht to U.K.

[meatboy]

if he sent baht to the uk.he wouldnt get 109k.gbp.after exs.

kasikorn the last time i looked,10am.tt rate for baht.to gbp. 54.74. about 109k.less exs.

where can i get 100k.gbp.when you need it. oh i know,house for sale 120k.gbp cash.

dd.is goner be very lucky if he can buy gbp.for 54.50 in thailand. even tt.rates for gbp.to baht is 53.91.

[meatboy]

sorry DC its getting worse kasikon 54.86.=109,369gbp.

[dirtycash]

ive made some pretty f ******* g stupid investments in thailand over the years i dread to think how much i have lost . time to learn .

maybe better to keep this money in thailand now, maybe put into a high interest account or just spend it lie back and enjoy it ?

what would you do .

Edited July 23, 2015 by dirtycash

[meatboy]

ive made some pretty f ******* g stupid investments in thailand over the years i dread to think how much i have lost . time to learn .

maybe better to keep this money in thailand now, maybe put into a high interest account or just spend it lie back and enjoy it ?

what would you do .

are you married DC,if not put it into a fixed acc.[not that good right now] but better than loosing,and as you say lay back and enjoy it.

[ableguy]

Lloyds is Halifax now, same same.

[Pattaya46]

Sent 2 mill from thailand to australia in 2013 bank to bank, from memory kasikorn bank (central festival shopping mall pattaya) would only let me send around 1 mill baht per transaction and charged around 1000 baht each time, sent the other mill a few weeks after the first. Overall had no problem with Kasi even though i thought i would encounter some problem.

I send back about $40'000 to Europe 3 years ago (so about 1.2? million baht) from Kasikorn Pattaya near Tukcom.

It took me more than 3 hours before they accept to transfer it, and I had to return home get more documents about my bank operation. In fact they didn't had the power/right to do it and they had to fax many document to someone in Kasikorn Bangkok...

I will have next time to ask precisely what are their rules and the ceiling of wires they can accept without Bangkok authorisation