Thai gov. to tax (remitted) income from abroad for tax residents starting 2024 - Part II

[chocdee120]

Hi all, what is the best way to send money, When I send from my HSBC account it says currency to send I put Thai baht and it gives me a rate. Would it be better to send UK pounds? if so, is it automatically converted to Thai baht here and paid into your Thai Bank account. Thanks for your time.

[KhunBENQ]

From UK?

Send Pounds!!! The "offshore" rates that banks apply are terrible.

Would have helped if you write down the rate that you saw (and when).

Todays GPB/THB rates at Thai banks are about 55.4 for sending (incoming) money (TT).

Edited August 19, 2015 by KhunBENQ

[stoneyboy]

Best to send GBP.

Yes it is then converted,I sent some cash yesterday in sterling and got the magic 55 I was holding out but running low,55 is as good as it's been and as good a time to send IMO.

[KhunBENQ]

Best to send GBP.

Yes it is then converted,I sent some cash yesterday in sterling and got the magic 55 I was holding out but running low,55 is as good as it's been and as good a time to send IMO.

55 is probably the overall rate (with fees deducted).

Depends on the amount of course.

The higher the amount the closer you get to the "TT" rate.

[stoneyboy]

Best to send GBP.

Yes it is then converted,I sent some cash yesterday in sterling and got the magic 55 I was holding out but running low,55 is as good as it's been and as good a time to send IMO.

55 is probably the overall rate (with fees deducted).

Depends on the amount of course.

The higher the amount the closer you get to the "TT" rate.

I only send a minimum of 3k to keep the costs down,Barclays charge £25 a pop but the service is faultless it was in my BKK Bank account by close of business here.

[SamDean]

To avoid heavy fees, and inaccurate exchange rates I use BitCoin. Even if you need 2 Different BC accounts (one the links to your Thai account, and another linking to a home account), I can transfer money to home accounts for less than .25% loss and it only takes 24 hrs.

[tso310]

^{Always send GBP but infact the HSBC rate is usually less than 1 baht lower and therefore much better than other UK banks. HSBC only charge £4 for a transfer.}

[Expattaff1308]

Get your first transfer free tx upto 3000 GBP with transferwise, tx takes between 3-5 business days ...current rate is

Free

Estimated exchange rate

You get the real exchange rate

£ 1 ฿ 55.7480

[chocdee120]

Thanks to all for help, Will send UK pounds now I know they auto convert and pay into my Thai Bany