Advice needed on transferring funds from UK to Thailand

[steelerian]

Hi all,

I need to move approximately 10,000-12,000 GBP from the UK, to Thailand. I need it here by Monday evening at the very latest. Its now 1632 Thai time, so 0932 UK time.

Does anyone have any advice please regarding the best and cheapest way to do this?

Thanks in advance.

[stoneyboy]

The best way would be an international bank transfer but it won't be the cheapest option.

The cheapest option won't get you the best exchange rates.

It's catch 22 really.

Western Union

FX

Bank to Bank

[Ace of Pop]

The Urgency seems like a Scam.

[FritzB]

Bangkok Bank provide one of the better routes, but you need a Bangkok Bank account in Thailand.

You transfer the money to the Bangkok Bank branch in London, and the money will be in your Thai Bangkok Bank account the next day (usually). Costs £20 and the exchange rates are usually better than most.

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUK/Pages/ReceivingFundsfromUK.aspx

Edited November 13, 2015 by FritzB

[chiang mai]

Given the short timescales there's no guarantees. But a transfer placed with a major bank, say HSBC UK now, should see those funds in Thailand Monday, sometime, maybe!

[steelerian]

The Urgency seems like a Scam.

<deleted> are you talking about you fool? I just need it here soon. <deleted> off back under your bridge.

Bangkok Bank provide one of the better routes, but you need a Bangkok Bank account in Thailand.

You transfer the money to the Bangkok Bank branch in London, and the money will be on your Thai Bangkok Bank account the next day (usually). Costs £20 and the exchange rates are usually better than most.

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUK/Pages/ReceivingFundsfromUK.aspx

This is an option. Thanks very much Fritz, will look into this option.

[iian23]

Hifx.co.uk a currency exchange company. I have never sent baht with them but all the times I have used them with other currencies a better rate could not be had. With the amount you are sending there should not be any charges. You can do it all on line. Just not sure if it will get here in time now, normally it would but can't remember if the weekend adds any delay. Register an account and they will give you a quote.

[hotrod4098]

try xendpay good rates but its a large amount you are sending so may need to be verified...

[BusyBee123]

Transferwise if you need to do it quickly, do not use banks they give you terrible rates and high charges. If you need to do so in future for large amounts use FCExchange both have calculators so you can compare against any other method i've saved thousands sending money they are both on Martins Money Tips and regulated by FCA.

[BusyBee123]

P.s nothing is urgent in Thailand

[retarius]

International wire transfers take time....it took a week last time I did it with KBank for 10,000 pounds. You should try World First for future use....open an account (you need a utility bill in your name) and you can transfer funds to them and they will wire same day, free of charge and you get the spot rate. Great service.

[jacko45k]

Presuming you have a UK bank account and a Thai one, and internet banking for the UK, that should not have been a problem.

Anyhow, Saturday already, so sorry to be too late.

[Taylos]

Maybe try Currency solutions ( I think London based), I moved money with them to Australia

[Ace of Pop]

Sin Sod demands speed ,so does Bail. W[emoji572]️

[Liquorice]

Bangkok Bank provide one of the better routes, but you need a Bangkok Bank account in Thailand.

You transfer the money to the Bangkok Bank branch in London, and the money will be in your Thai Bangkok Bank account the next day (usually). Costs £20 and the exchange rates are usually better than most.

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUK/Pages/ReceivingFundsfromUK.aspx

This is my preferred method.

Complete an internal transfer to BKK London at 1715 Thai time.

SMS at 08.30 the next morning to confirm the funds are in my Thai account.

Never failed. £20. Always use the option to exchange the funds in Thailand for much better rates.

[abbeypurple]

There's a UK company called AB money they transfer funds to Thailand within minutes if needed. Worth a call to them.

[soc]

l opened an account with the Kasikorn Bank & transfer money from Australia.

lts generally here within hours & costs $20, but l have received better exchange rates(Aust banks rates, not KB).

I found Kasikorn to be fast & efficient & have no complaints.

No fees but then, no interest paid either, but it suits me.

[yardrunner]

I used to use Bangkok bank and they were very good but now I have started using Smart currency exchange as it works out as slightly better rates and if you are sending more than 3000 GBP they do not charge any fees but you will need a Thai bank account to transfer to

[MeHere]

My client pays invoices at his Australian bank and it shows up within 4 hours if transferred before 14:00

I think they have a special overseas transfer 'subscription' plan where they pay a monthly fee for a certain amount of overseas payments as well as better x-rates.

A colleague of mine in Australia used Ozforex and got a great x-rate and no transfer fee, but the transfer took several days to arrive in my BKK Bank account

[Rob Roy]

The best way is to use an International Money Transfer Company in the UK. I Have already used Torfx and UK Forex to transfer money from UK to Thailand. Both companies charge you nothing! They make their fee from the exchange rate which is still between 4% and 5% higher or better than any UK bank will offer you. Never use Western Union their exchange rates are terrible and they will also charge a high fee. Step 1 is to register online or over the phone (free) both company traders i have found to be honest & trustworthy and their customer service is very good. Torfx will even asign you your own dedicated trader so you can build up a relationship.

Step 2 after you register is to take a photo screenshot of your passport page with your photo plus a photo screenshot with your mobile and then send it to Torfx by email and attachment photos. Very quick. On Totfx website you will be given a personal ID MUMBER this is your personal client number which you will always put on all correspondence, plus choose a strong password a combination of Upper & lowercase letters and figures a minimum of 8 but better choose 10 to 16 for a very strong password. All my transfers arrived in my Thai Kasikorn bank in 3 to 4 days from the UK. THERE IS ONLY ONE WAY TO GET FUND TRANSFERS FROM THE UK IN 2 OR 3 DAYS YOU MUST ASK THE COMPANY YOU USE TO TRANSFER THE FUNDS FROM THERE LONDON HOLDING BANK DIRECT TO YOUR BANK HEAD OFFICE IN 2 DAYS AND MAKE SURE YOUR THAI BANK DOES NOT HOLD UP THE TRANSFER TO YOUR SUB BRANCH WHERE EVER YOU LIVE IN THAILAND. NORMALLY IT WILL TAKE 3 DAYS FROM UK BUT I HOPE I HAVE BEEN ABLE TO HELP YOU FOR ANY FUTURE INTERNATIONAL MONEY TRANSFERS FROM UK TO THAILAND.

[Rob Roy]

Sorry I forgot to add you need a photo of any utility bill with your name and address on it and best the bill is dated within the last 3 months. Gas or electric or even your council tax bill. Good Luck but not sure if money will reach you by Monday night? The exchange rate has dropped down now from a few weeks ago you could have got 55.04 but now dropped to below 54 baht to pound approx 53.6.

[NoshowJones]

I carried 35.000 GBP in cash from the UK into Thailand with no problem.

[Davedub]

HSBC international transfers to SCB cost me 4 GBP and are usually pretty much instant. If doing 12k, maybe better to do two payments as to avoid the 10k 'flag up' limit.

[hugh2121]

If you haven't already done it, I think you are too late. Money markets are closed at weekends.

Best route I've found is ukforex.co.uk

[hugh2121]

I used to use Bangkok bank and they were very good but now I have started using Smart currency exchange as it works out as slightly better rates and if you are sending more than 3000 GBP they do not charge any fees but you will need a Thai bank account to transfer to

Smart give a slightly better exchange rate than ukforex but they are slower and do not have an automated system. ukforex also have people in Oz at ozforex. Any instruction put on the system in uk when the uk office is closed, will be picked up and actioned by ozforex. With Smart you have to wait until their office opens around 9am uk time, currently 4pm thai time.

[footy604]

if you want to make sure you have the money for Monday, you can go to SCB bank with your UK debit card and passport, they can do a cash transaction for 250'000 THB, providing you have the funds in that account, then do the same again on Monday morning.

[gandalf12]

Seems very late in the day to be asking this question if the funds are urgently required

[William C F Pierce]

HSBC is the most expensive. I previously asked them to send money to an account at a Thai Bank with all charges paid. HSBC doesn't do that. First they send it to HSBC Thailand who take a cut out of the money that is suppose to go to a Thai Bank. You will loose another 10% of what you think you are getting. Not Thai corruption but international HSBC bank corruption.

[sandrabbit]

Hifx.co.uk a currency exchange company. I have never sent baht with them but all the times I have used them with other currencies a better rate could not be had. With the amount you are sending there should not be any charges. You can do it all on line. Just not sure if it will get here in time now, normally it would but can't remember if the weekend adds any delay. Register an account and they will give you a quote.

This is the only way I send money to Thailand, have sent more than £250K with them and no problems with one of the best rates. Takes 3 days now though, was 5 until recently.

[keithathome]

I've just done this for my retirement. Providing you have a bank account to send it to it is pretty quick - shame about the weekend but if you start onSaturday, so's the bank will start acting on Monday early, you might get it there. From your bank account choose SWIFT (international transfer), assuming you have online banking, and remember to give the "extra details" (further information ?) transfer to Thailand requires. Takes about three days and with the Nationwide costs £20 no matter how much you are transferring