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Best bank for international business

grumpyoldman
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abrahamzvi Advanced Member

abrahamzvi

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Posted

I've been asking people about this recently. Bangkok Bank has been recommended for UK citizens. Apparently they have a branch in London where funds can be paid in and the exchange rates are very reasonable.

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The same applies to the US. The Bangkok Bank has an office in New York and transfers work very well at reasonable exchange rates. They charge in N.Y. $10 per transfer.

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Surasak Gold Member

Surasak

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Posted

I've been asking people about this recently. Bangkok Bank has been recommended for UK citizens. Apparently they have a branch in London where funds can be paid in and the exchange rates are very reasonable.

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

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Davedub Senior Member

Davedub

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Bangkok Bank are the best of a bad bunch . Good plus. UK branch completes direct transfers to Thailand fee 15 to £20

That's interesting, as my UK HSBC account only charges me 4GBP for international transfers. However, they may be making up the difference in their exchange rates, this is something I need to look at some point.

I've been asking people about this recently. Bangkok Bank has been recommended for UK citizens. Apparently they have a branch in London where funds can be paid in and the exchange rates are very reasonable.

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

I think the idea is you open an account here and can have funds paid into the London branch, but again, I've not checked this out properly as yet. I'll be following this thread in the hope of more info!

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William C F Pierce Senior Member

William C F Pierce

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I have a BKK bank account with a UK address. It is only for my convenience for the future. Otherwise I don't use a Thai or UK bank to transfer money. I know I can get 10% more if I bring stirling cash to Thailand and get another 0.5 to 1.0% by changing it at the SK money shop in Chiang Mai. Of the Thai banks if you have to use them Kasikorn Bank always seems to give the best exchange rate. Another half a percent is always welcome on your spending power. Especially on a large sum. If you're transferring funds for something like a house purchase then use a Forex company. The first time you use them it is usually free. So don't use them until you are ready to do a house purchase, if that is your intent. This will give you the maximum savings.

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thaiturkey Rookie Member

thaiturkey

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Kasikorn has been terrific - good rates, the wire transfers are there first thing in the morning if sent during the night - they call to notify me…

NOT FOR OUTWARD TRANSFERS

they will place many obstacles in your path for outward transfers. AVOID AT ALL COSTS!

BB best Thai bank in this case.

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Coyoti Rookie Member

Coyoti

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I've used Bangkok Bank for years to transfer from US to Thailand, and in general liked it. What I don't like is the "unreported" fees (only available on a separate sheet) and while okay, not the best exchange rate. Lately I've found a better alternative for me. That is Charles Schwab. In my case, I transfer money via ACH from my credit union in the US to my Schwab Brokerage account and use my Schwab debit card at an ATM to get money here. The ATM fees are refunded, and the exchange rate is always better than Bangkok Bank. You do have to have a brokerage account with them though. Downsides are the total amount available per day and the length of time to get funds from the source in US to ATM here. As has been pointed out before, if you are able, the best exchange rate is to bring cash from outside and exchange at Vasu, SIA or Super Rich.

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NanLaew Star Member

NanLaew

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Posted

I've been asking people about this recently. Bangkok Bank has been recommended for UK citizens. Apparently they have a branch in London where funds can be paid in and the exchange rates are very reasonable.

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

Unless one has a UK bank account, the only way is to make the cash deposit at BB in London but I am not sure if any bank allows anyone to just walk in with a wedge and ask it to be sent anywhere, let alone overseas.

Maybe check with the airlines on how much to ship your mattress to Thailand as excess baggage? Unaccompanied baggage is cheaper BTW.

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OJAS Ruby Member

OJAS

Posted
Posted (edited)

I've been asking people about this recently. Bangkok Bank has been recommended for UK citizens. Apparently they have a branch in London where funds can be paid in and the exchange rates are very reasonable.

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

http://www.bangkokbank.com/bangkokbank/personalbanking/dailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUK/Pages/ReceivingFundsfromUK.aspx

Better to get GBP-to-THB conversions performed in Bangkok rather than in London for optimum rates.

Edited by OJAS
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NanLaew Star Member

NanLaew

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Posted

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

http://www.bangkokbank.com/bangkokbank/personalbanking/dailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUK/Pages/ReceivingFundsfromUK.aspx

Better to get GBP-to-THB conversions performed in Bangkok rather than in London for optimum rates.

"Anyone with a UK bank account can transfer funds into a Bangkok Bank account in Thailand using this service."

As suspected, if one doesn't already have a UK bank account or access to the account of someone else who you can trust, the BB London service isn't an option.

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apetley Platinum Member

apetley

Posted
Posted

Bangkok Bank are the best of a bad bunch . Good plus. UK branch completes direct transfers to Thailand fee 15 to £20

That's interesting, as my UK HSBC account only charges me 4GBP for international transfers. However, they may be making up the difference in their exchange rates, this is something I need to look at some point.

I've been asking people about this recently. Bangkok Bank has been recommended for UK citizens. Apparently they have a branch in London where funds can be paid in and the exchange rates are very reasonable.

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

I think the idea is you open an account here and can have funds paid into the London branch, but again, I've not checked this out properly as yet. I'll be following this thread in the hope of more info!

My last transfer HSBC to Kasikorn was free! Really surprised that there were no charges from HSBC at all.

To avoid their not so good exchange rate all you need to do is make the transfer as Sterling and let your Thai bank make the conversion for a better rate.

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chiang mai Star Member

chiang mai

Posted
Posted

Bangkok Bank are the best of a bad bunch . Good plus. UK branch completes direct transfers to Thailand fee 15 to £20

That's interesting, as my UK HSBC account only charges me 4GBP for international transfers. However, they may be making up the difference in their exchange rates, this is something I need to look at some point.

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

I think the idea is you open an account here and can have funds paid into the London branch, but again, I've not checked this out properly as yet. I'll be following this thread in the hope of more info!

My last transfer HSBC to Kasikorn was free! Really surprised that there were no charges from HSBC at all.

To avoid their not so good exchange rate all you need to do is make the transfer as Sterling and let your Thai bank make the conversion for a better rate.

I think you'll find the charge is 4 Pounds, that's what the rest of us pay when we do that, unless your name is Gulliver that is!

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apetley Platinum Member

apetley

Posted
Posted
Bangkok Bank are the best of a bad bunch . Good plus. UK branch completes direct transfers to Thailand fee 15 to £20

That's interesting, as my UK HSBC account only charges me 4GBP for international transfers. However, they may be making up the difference in their exchange rates, this is something I need to look at some point.

So can I ask, how does one open or transfer funds to the BKK Bank in London? With no UK address this would not be easy to open an A/C. Unless with a BKK Bank A/C in Thailand the same A/C can be used.

If anyone knows the how and why I would very much like to hear about it.

I think the idea is you open an account here and can have funds paid into the London branch, but again, I've not checked this out properly as yet. I'll be following this thread in the hope of more info!

My last transfer HSBC to Kasikorn was free! Really surprised that there were no charges from HSBC at all.

To avoid their not so good exchange rate all you need to do is make the transfer as Sterling and let your Thai bank make the conversion for a better rate.

I think you'll find the charge is 4 Pounds, that's what the rest of us pay when we do that, unless your name is Gulliver that is!

Agree that the charge is normally 4 pounds but this time no charge at all and yes I have checked a couple of times since the transfer was made. What was different this time was that I was given the option for my Thai receiving bank to pay all charges which I accepted.

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topt Ruby Member

topt

Posted
Posted

My last transfer HSBC to Kasikorn was free! Really surprised that there were no charges from HSBC at all.

To avoid their not so good exchange rate all you need to do is make the transfer as Sterling and let your Thai bank make the conversion for a better rate.

I think you'll find the charge is 4 Pounds, that's what the rest of us pay when we do that, unless your name is Gulliver that is!

Agree that the charge is normally 4 pounds but this time no charge at all and yes I have checked a couple of times since the transfer was made. What was different this time was that I was given the option for my Thai receiving bank to pay all charges which I accepted.

And do you know how much your receiving bank charged you - or was it hidden in the exchange rate?

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apetley Platinum Member

apetley

Posted
Posted (edited)

My last transfer HSBC to Kasikorn was free! Really surprised that there were no charges from HSBC at all.

To avoid their not so good exchange rate all you need to do is make the transfer as Sterling and let your Thai bank make the conversion for a better rate.

I think you'll find the charge is 4 Pounds, that's what the rest of us pay when we do that, unless your name is Gulliver that is!

Agree that the charge is normally 4 pounds but this time no charge at all and yes I have checked a couple of times since the transfer was made. What was different this time was that I was given the option for my Thai receiving bank to pay all charges which I accepted.
And do you know how much your receiving bank charged you - or was it hidden in the exchange rate?
Same as that shown on their website for international transfers.

Edit. It worked out at about 400 bht taken by the receiving bank.

Edited by apetley
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