Wiring money UK > Thailand. Send Baht or Pounds? Pay fee in Thailand or UK?

[BuffaloRescue]

Hi

I have personal HSBC account in UK. I want to send money to Thailand to SCB savings account.

 

There are options send pounds or baht. And pay the fees in the UK or Thailand?

 

What should I do to get the best rates and lowest fees?

[JamJar]

In Pounds. Should just be a £4 transfer fee.

There should be a 500 baht max fee from SCB.

So pay only the £4 UK fee.

The only issue is if they use an intermediate.

 

[simoh1490]

Just now, JamJar said:

In Pounds. Should just be a £4 transfer fee.

There should be a 500 baht max fee from SCB.

So pay only the £4 UK fee.

The only issue is if they use an intermediate.

 

+1 - there's no intermediate bank involved with a transfer to SCB.

 

Always transfer Pounds, NEVER Baht.

[scubascuba3]

As above. Depends how much you are sending but I'd be marginally nervous about sending big money to my Thai bank account first time in case of transposition error or something and it hits someone elses account. I'd be tempted to transfer a small amount to start with as a test.

[Artful Dodger]

I have not sent money to Thailand but sending to Europe and the States direct from my UK bank has been expensive in the past. It's not always the fees - often it's the crappy exchange rate they give you. If you are sending £ then I guess it's the Thai bank's rate you'd need to look at, but I can't see that being much better. If you use an online money transfer service you can usually save quite a bit.

[JamJar]

21 minutes ago, Artful Dodger said:

I have not sent money to Thailand but sending to Europe and the States direct from my UK bank has been expensive in the past. It's not always the fees - often it's the crappy exchange rate they give you. If you are sending £ then I guess it's the Thai bank's rate you'd need to look at, but I can't see that being much better. If you use an online money transfer service you can usually save quite a bit.

 

It is likely cheaper to use the likes of Transferwise.

 

Nevertheless, check the TT rates here: http://bankexchangerates.daytodaydata.net