Western Union

[kingalfred]

Has anyone had experience sending money from Thailand to UK bank accounts? I see on some Western Union transfer forms there is the option to send to a bank account, but not all. Some banks will not provide this service, only cash receiving service!

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[Anon999]

Why use Western Union when you can use a bank? Not sure if all banks will if you have an account with them, just ask.

[johng]

Why ? Because western union is instantaneous banks make you wait anything from a day to weeks to get your money.

[Belzybob]

6 minutes ago, johng said:

Why ? Because western union is instantaneous banks make you wait anything from a day to weeks to get your money.

And you pay handsomely for that convenience.

[slippedisc]

WU works but really behind the curve and that goes for most banks too. There are cheaper, more efficient and much simpler ways to transfer money these days.

 

My personal favourite is Transferwise. Simple, safe and most importantly low fees (even cost effective for small amounts).

 

I've used it scores of times and never had a problem.

[peter267]

Look at Bitcoins.   You can buy & sell in Thailand (legally) & Uk and manage it all on an App/online - with minimal (pence) commission costs.  It started some 8 years ago - at parity with $ and is now worth $600 a coin.    However ignore the investment potential it is a very rapid means of moving money internationally near instantly.

 

You can buy online using a Thai instant bank transfer - and sell similarly at UK end into a UK account.  

 

Lots and lot being promoted this year about future of Bitcoins and stuff 'Cybercurrency' & 'Blockchains' on Internet is getting more understandable - the online wallets used for storage more security sophisticated, secure and user friendly.   Monetary 'authorities' & financial institutions (let alone politicians)  fear them as it will effectively put them all out of business.  So nothing big spoken in the 'media main stream'   but its out there and working daily globally. 

 

Well worth a look & read.  

 

 

 

 

[KamnanT]

1 hour ago, johng said:

Why ? Because western union is instantaneous banks make you wait anything from a day to weeks to get your money.

 

Compare the exchange rates offered by WU and those offered by your bank.  I have always found WU's to be significantly worse.

[Tengtai]

Bitcoin is the easiest and cheapest way and even more instant than WU. 

[tezzainthailand]

3 hours ago, slippedisc said:

WU works but really behind the curve and that goes for most banks too. There are cheaper, more efficient and much simpler ways to transfer money these days.

 

My personal favourite is Transferwise. Simple, safe and most importantly low fees (even cost effective for small amounts).

 

I've used it scores of times and never had a problem.

Can I ask you please how you transfer it from Thailand if you do not have a Thai bank account, and only have Thai cash to transfer?

[AsianExport]

What is the cheapest option if not bitcoin ?

[PeeJay1959]

Paypal?

[kingalfred]

WU works but really behind the curve and that goes for most banks too. There are cheaper, more efficient and much simpler ways to transfer money these days.
 
My personal favourite is Transferwise. Simple, safe and most importantly low fees (even cost effective for small amounts).
 
I've used it scores of times and never had a problem.

Cannot transfer Thai baht with transferwise


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[kingalfred]

Bitcoin is the easiest and cheapest way and even more instant than WU. 

But need a lot of baht to get 1 bit coin . Currently 23,000 baht=1 bitcoin


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[peter267]

On 10/23/2016 at 9:03 PM, kingalfred said:

But need a lot of baht to get 1 bit coin . Currently 23,000 baht=1 bitcoin


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It started some 8 years ago at parity with the $ = 1 Bitcoin  - now its $600 per bitcoin  (23,000Baht) .  you can trade down to small increments - its not an actual currency - so no possibility  in offering one ever to  7-11 when buying a 6 baht water and expecting change.  However it will take some .00025 bitcoin from  a virtual wallet on your smart phone sooner than later as payment for said 7-11 bottle of water. 

 

So to some, the 'brave',  it has been a spectacular investment in the strength of the internet and future, maybe!.    Just now its provides the cheapest rate/cost to exchange across currencies  - as it removes the big fat financial institution from the deal helping themselves to money each time it passes through their hands when buying or selling.  

 

Unlike central bank issued currencies Bitcoin has a finite issue limit - think its 21billion that will ever be released (mined)  - and its comparative value will rise & fall  around that limit.    

 

 

 

 

[Schillaci]

Surely London must have something like this.
 https://www.facebook.com/xwingptyltd/

 

Money goes in to a Thai Bank account within 4 hours. No fee.

[peter267]

22 hours ago, Schillaci said:

Surely London must have something like this.
 https://www.facebook.com/xwingptyltd/

 

Money goes in to a Thai Bank account within 4 hours. No fee.

The OP "swimming the other way"  -  he want to remit money from Thailand to the UK