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  1. #1
    Member unkleblacky's Avatar
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    Money transfer from UK to Bangkok Bank

    Hi there,

    The Missus has managed t osave nearly £2500 working here in the UK and wants to transfer it to her Thai account, currently she has a bangkok bank account, what would be the most economical way of transferring money to it.

    Is there anyway to guarantee a rate when exchanging money via BT?

    All thoughts and experiences greatly appreciated

  2. #2
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    jizzybloke's Avatar
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    There's a branch of Bangkok bank in Liverpool St

    http://www.bangkokbank.com/Bangkok%2...20in%20UK.aspx

  3. #3
    Thailand Expat
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    Any UK bank will be able to transfer the money to a Bangkok Bank account here. BKK bank in London don't offer any advanatage over Lloyds or anybody else. I think that Nationwide BS were cheapest (about 25 quid a time) the last time I moved some money.

    The process takes about five working days and you won't know the exchange rate until the money gets to the Bangkok Bank AC - unless you are paying into a foreign currency AC of course.

    To comply with anti Money-Laundering regs, you will need to provide proof of ID, such as passport and utility bills to prove address, to the UK bank.

  4. #4
    Thailand Expat
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    Avoid western union, they eat into the cash. Your missus has saved it, is there any rush to move it? If not hold it and carry it as cash the next time you visit her home

  5. #5
    Thaiguy
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    Quote Originally Posted by kingwilly View Post
    Avoid western union, they eat into the cash. Your missus has saved it, is there any rush to move it? If not hold it and carry it as cash the next time you visit her home

    I found the same with WU. also experience with my bank in Aust. to Bank of Siam found the fees were exorbitant .
    Lately I have found using a deposit via ebay to my Travelex debit card worked less expensively - just draw the cash out from ATM when you arrive and rebank .
    Not sure if maximum withdrawal applies , banks charge 150 bht per ATM withdrawal.
    Interesting to hear of other experiences?
    You could always get the missus to deposit it on your credit card as a payment then use the credit as you want it? ( hmm can't see teerak doing that somehow? )

  6. #6
    Thailand Expat
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    From the UK ,I use the Halifax on line banking,£9 or £19 for them to do it for you, used it loads of times and takes 2-3 days. Always send money in pound,never Baht as the Bangkok Bank will give you the latest exchange rate,so its worth keeping a eye on exchange rates.

  7. #7
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    FX Solutions

    I have used a company called FX solutions twice and found them to be very competitive.

    It was a few years ago, back in the good old days when the pound was around 70-72 to the baht for most banks.

    Fx solutions guaranteed a better exchange rate than the banks and at the time I got 75 to the baht.

    They used to charge 15 pounds for a transfer and you had to arrange for the GBP to be transferred via a CHAPS payment from your bank to their account at the Deutsche bank in London. I seem to remember the CHAPS payment cost in the region of 15 pounds aswell.

    A good service, the second time I got my acount number wrong for my Thai bank and the cost was only 5 pounds to correct it. Transfer time was quite quick too - within a few days.

  8. #8
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    Did it last week thru r.b.s. Cost is £20, flat rate. Takes 5 working days.

  9. #9
    Member duggie's Avatar
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    why dont ypu get sterling travlers cheques then you can cash when the rate is best at the bank

  10. #10
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    If you want a gauranteed Rate send Thai Baht. You'll get a crap rate from your UK bank but It'll be gauranteed. The best way is to send GBP and allow the rate to be set when it hits Thailand. It'll be the International exchange rate which varies throughout the day but will be much more than the dodgy 'Tourist' rate given by UK banks. Thats my experience anyway .

  11. #11
    RIP
    Propagator's Avatar
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    With Lloyds TSB rate charge is £20. Their new policy since I think Novemeber is that they have to fix the exchange rate at the time of transfer. The rate is not the tourist rate (which is terrible when buying notes) but the Foreign Exchange Rate as listed, which I have usually found close to the Thai rates. Ther is a 300 baht charge at the Thai bank.

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