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  1. #1
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    Transferring money from the UK to Thailand - Cheap alternative

    Up front I'll state that I have no ties with this company. They were set up by the boys who invented Skype and offer cheap transfers overseas.

    At the moment they don't support Thailand or Baht, but I posted on their FB page and they replied that they are taking requests for other currencies at the link below.

    Could I ask that, if you're interested, you just go to the link below and select Thailand, add your email (so they can notify if they do it) and click "Submit"?

    https://transferwise.com/newcurrencyvote/

    If you want to see what they're all about, here is their website:

    https://transferwise.com/

    There is no commitment involved other than giving them your email addy.

    Cheers,
    Harry

  2. #2
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    Thanks for the info ,, just added mine , Thailand is now 26% PP is ahead at 27%

    Not that we really send any money as such these days , might be handy in future though never know .

  3. #3
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    seems it takes one/two days not really a lot of info on there homepage.

    here's some reviews.

    http://trustedreviews.eu/review/www.transferwise.com
    Last edited by Yasojack; 10-11-2014 at 05:37 PM.

  4. #4
    I am in Jail

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  5. #5
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    The Nigeria vote has to be a joke shirley.

  6. #6
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    If one doesn't care to do business with the highly bureaucratic banking systems [especially on the Thai side], an alternative might be a Western Union transfer.

    Service fees are nominal - cheaper if done online.

  7. #7
    Thailand Expat Pragmatic's Avatar
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    Quote Originally Posted by chassamui
    The Nigeria vote has to be a joke shirley.

  8. #8
    Newbie AndyFTH's Avatar
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    I opened account at Kasikorn bank. It was easy, just passport with tourist visa. And money transfer from my bank costs me 0,7% of transfered funds (max limit is 1000 Baht).

  9. #9
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    I use HiFX .

    http://www.hifx.co.uk/online-interna...oney-transfers

    Always good and very good terms

  10. #10
    Thailand Expat Pragmatic's Avatar
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    HiFX, I used them for the first time last March. I was impressed and will definitely look to using them again.

  11. #11
    Member Nathan Napalm's Avatar
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    That's about a fiver in sterling.

  12. #12
    Thailand Expat Pragmatic's Avatar
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    Quote Originally Posted by luckyjim View Post
    I use HiFX .

    http://www.hifx.co.uk/online-interna...oney-transfers

    Always good and very good terms
    I've been keeping an eye on HiFx, which I now use, and compared it to others including Transferwise. Now I'm not linked to HiFX in any form other than I have used them in the past. From my observations, HiFX is the best/highest exchange giver. They are roughly 0.5 Baht per Pound Stirling higher than Transferwise. It makes a difference.
    if I pissed on your thread Harry but it may help someone wanting to get the best deal.

  13. #13
    Thailand Expat nevets's Avatar
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    Always used Barclays 25 any amount takes up to 8days to get into Bangkok Bank it's not the best I know.

  14. #14
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    So they now do Thai baht, and I did my first xfer yesterday (GBP4K).

    They charged something just about 1% and converted the rest @51.88.

    I got credited with 205403 baht so a rate of 51.35 net.

    That's certainly better than my bank.

    Be interested to hear what others get in comparison.

    The best thing for me is the ease of it, being in the Middle East you can just do it all online. Dead simple, they just need your passport pages to confirm your ID (not a problem, William Hill wanted that too!).

  15. #15
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    Hi,
    Been mostly a lurker here, but I have used transferwise a few times recently after I got fed up with high bank fees, and it has worked fine. A tad slow as you have to wait for two bank transfers to occur and be confirmed (localbank->localtransferwise then thaitransferwise->thaiaccount) compared to just using an ATM card, but no issues so far.

  16. #16
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    Halifax Bank online banking charges just 9.50 for any amount up to 75K-at the other end Kasikorn takes 300/500 baht...............I don,t know of a cheaper (and safe) way

  17. #17
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    I just had a look at my HSBC online account and its 4 to send online and if I had an HSBC account abroad it would be free

  18. #18
    Member Dead Metal's Avatar
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    From the UK you can take a max 12000, but you have to have proof of where it came from, so if its from your bank account hang onto the receipt.
    That way you can get the best exchange rates in Thailand with no cost.

  19. #19
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    Anybody tried Paypal? 2 accounts are needed, one with your home bank and one with Thai bank. Transfer money to yourself. It was recommended by my bank rep in Canada as a good low fee alternative.

  20. #20
    PAG
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    Quote Originally Posted by nigelandjan View Post
    I just had a look at my HSBC online account and its 4 to send online and if I had an HSBC account abroad it would be free
    One of the reasons I opened an account with HSBC UK earlier this year. You can transfer up to a max of 50,000 a day for 4 per transfer using their on-line banking service. There is also the option of transferring sterling or converting it to whatever local currency it's going to. Certainly at the moment it's better transferring sterling as the rate is much better here. Also my Thai bank (SCB) doesn't charge any commission.

  21. #21
    PAG
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    Quote Originally Posted by PAG View Post
    Quote Originally Posted by nigelandjan View Post
    I just had a look at my HSBC online account and its 4 to send online and if I had an HSBC account abroad it would be free
    One of the reasons I opened an account with HSBC UK earlier this year. You can transfer up to a max of 50,000 a day for 4 per transfer using their on-line banking service. There is also the option of transferring sterling or converting it to whatever local currency it's going to. Certainly at the moment it's better transferring sterling as the rate is much better here. Also my Thai bank (SCB) doesn't charge any commission.

    Put this to the test yesterday, as I needed to transfer funds from my UK HSBC account to my Thai SCB account to cover costs of a new car I've ordered, and some house renovation work that we've just started. Timeline of events was this (local Thailand):

    2 p.m. Went into my HSBC on-line account and did the transfer transaction. 4 pounds deducted from my account as a single charge, and got an advisory notice that the transfer could take between 1 and 6 days to happen.

    4 p.m. Got a call from a lady at SCB in Bangkok, asked if I was expecting a transfer of X amount. Of course I was, and she asked if I wanted it converted immediately to baht (she quoted the rate), or did I wish to keep it in pounds for up to 365 days and convert it when I wished. I took the immediate option.

    4.30 p.m. Received the normal SMS message from my bank that I get whenever there is a credit/debit on my account, showing the full transfer amount and new account balance.

    Got to admit I was pretty impressed, both with the ease of HSBC's system, and the subsequent efficiency of SCB.

  22. #22
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    Only thread I found about Transferwise, a bit old. I want to transfer 5-10,000 CDN from Canada to Thailand, wondering if anyone has more recent experience with Transferwise or similar. Thanks

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