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Best way to change money for trip to UK


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I'm going back to the UK in a couple of weeks. I'll be there about three weeks. What's the best way to change Baht for Pounds? I'm assuming the options are;

 

1. Transfer Baht from my Thai bank account to my UK bank account

2. Use my Thai debit card (Mastercard)

3. Use my Thai credit card (also Mastercard)

4. Go to a money changer in Pattaya and change Baht to Pounds

 

Thoughts? Trying to do it as cheaply as possible. I need to take about £5000 home.

 

Thanks in advance

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8 minutes ago, JamJar said:

Fourth option likely best value.

Second option not terrible. Possibly a 2.5% premium to the Mastercard exchange rate.

 

If you still have a UK bank account, don't you have money in the UK?

If you are not hesitating to carry 5000 Pound in cash than indeed this would be a good option.

I assume there is no obligation to declare such an amount at UK customs?

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https://www.superrichthailand.com/#!/en/exchange

 

SuperRich at the Airport Link at BKK has a spread of around 1%. So exchanging cash for Baht is the best value. Call them before leaving for the airport to make sure that they'll have the cash ready for you.

£50 notes cost more than £20, £10 and £5. So tell them that you don't want £50s if you don't want to pay extra.

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1 minute ago, KhunBENQ said:

If you are not hesitating to carry 5000 Pound in cash than indeed this would be a good option.

I assume there is no obligation to declare such an amount at UK customs?

Keep all receipts.

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53 minutes ago, jacobsladder said:

3. Use my Thai credit card (also Mastercard)

From this I would guess you work in Thailand, have a work permit?

In this case transferring from your Thai account would be relatively easy.

Otherwise it can be troublesome.

 

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1 minute ago, KhunBENQ said:

From this I would guess you work in Thailand, have a work permit?

In this case transferring from your Thai account would be relatively easy.

Otherwise it can be troublesome.

 

 

Poor value.

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14 minutes ago, KhunBENQ said:

From this I would guess you work in Thailand, have a work permit?

In this case transferring from your Thai account would be relatively easy.

Otherwise it can be troublesome.

 

 

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringOutOfThailand/Pages/TransferringoutofThailand.aspx

 

In this example, you would elect to send in Pounds which would be exchanged at BB's buying rate + 0.5% + 400 baht + plus any Correspondent Bank fees and/or Receiving Banks fees in the UK.

 

Bangkok Bank offer to take 1150 baht to include the Receiving Bank and Correspondent Bank fees, but then state if the fees are more than 1150 baht they'll charge more anyway.

 

jacobsladder could check to see if there will be any extra fees from his UK bank and/or a Correspondent Bank along the way. But likely he wont really know until he sees how much he gets on the other side.

 

 

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16 hours ago, KhunBENQ said:

If you are not hesitating to carry 5000 Pound in cash than indeed this would be a good option.

I assume there is no obligation to declare such an amount at UK customs?

 

Only amounts over €10,000 need to be declared to the Border Force/HMRC, when entering or leaving the UK, and that includes cash, travellers cheques and drafts. If you do take cash I would take evidence of the source of the cash, just in case a sniffer dogs take an interest, whilst you aren't actually required to declare £5,000 you could be questioned about the cash.

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16 hours ago, JamJar said:

Fourth option likely best value.

Second option not terrible. Possibly a 2.5% premium to the Mastercard exchange rate.

 

If you still have a UK bank account, don't you have money in the UK?

If he did and had enough in it..he would hardly need to ask the question?

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U will get the best rates at TT Exchange on Pattaya 2nd road opposite soi 15 Boyztown. It's big yellow building, also small booth opposite. But for that amount use the main shop. There's a few other branches around the town & Jomtien. Also hav the best rate compared to the others. 

I woz there couple mths ago to change into pounds for my trip next month. I managed to get 43.20 which woz pretty good then. No fees.

You can also go on their live website for current exch rates.

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6 hours ago, mike324 said:

Super Rich has the best rates, there are two Super Rich in Bangkok, orange one and green counter ones. Both are fine and have the same exact rates. 

No they don't 

https://www.superrichthailand.com/#!/en/exchange green 44.10

http://www.superrich.co.th/ orange 44.15

both for the head office location. So green is better

 

 

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On 04/06/2017 at 9:30 PM, jacobsladder said:

No, I haven't lived in the UK for 20 years and have no financial ties to it. I do, however, have family.

If you have a close friend or relative there you could push money through their account.

Next option is buy sterling cash in Thailand and risk carrying it.

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I send from UK to an asian country, the best way for me is with Transferwise.  The rates are midrates and they charge a fee.  best rates in town.  goes from bank account to bank account.  There is an app for it,  saved loads compared to WU

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In Pattaya the best option is to phone Yenjit exchanger in Walking Street, for that amount they will give you a better rate than displayed on their website.

In Bangkok best rates are from the Superrich head office. Not all the branches sell currency and those that do its a lower rate.

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On 06/06/2017 at 11:37 AM, mike324 said:

I think it just so happened to jump when you check, I just check its the same. So I would say majority of the times its the same.

Every time I've checked both on the net and in person, usually twice a year,(the shops are opposite each other) Orange has had a worse rate than green

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On 05/06/2017 at 1:35 PM, theoldgit said:

 

Only amounts over €10,000 need to be declared to the Border Force/HMRC, when entering or leaving the UK, and that includes cash, travellers cheques and drafts. If you do take cash I would take evidence of the source of the cash, just in case a sniffer dogs take an interest, whilst you aren't actually required to declare £5,000 you could be questioned about the cash.

 

That changed a few years ago,from £Stg 10k to Euros 10k, FWIW !

 

https://www.gov.uk/bringing-cash-into-uk

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1 hour ago, Ricardo said:

That changed a few years ago,from £Stg 10k to Euros 10k, FWIW !

 

Yes I know, that's why I wrote:

theoldgit said:

Only amounts over €10,000 need to be declared to the Border Force/HMRC, when entering or leaving the UK

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