Money transfer

Post by **bluejets** » November 29, 2013, 4:32 pm

Paypal is secure and cheap....

Post by **akwoodworker** » November 29, 2013, 4:49 pm

Bangkok has branched in other countries, NY in the US so I send my money free from my bank

Post by **mortiboy** » November 29, 2013, 5:28 pm

So there IS a charge with Bangkok bank!(re -TB post)
And I've just opened an account !

That was a waste of time! :-"

Post by **globalwanderer** » November 29, 2013, 6:11 pm

It's worth checking with your pension company. I have two. One will send in GBP to my Thai Bank without any extra charge. The other will convert in London and send in Thai Baht at a charge of GBP2.50

Post by **Stantheman** » November 29, 2013, 8:24 pm

Unfortunately it is next to impossible if you are looking for "free" from any bank when it comes to funds transfer between banks in different countries. If your home bank doesn't charge you a fee the receiving bank in Thailand will charge you a fee to accept your money (usually .5% minimum, 200 baht up to 500 baht).

Post by **rick** » November 29, 2013, 8:27 pm

Looks like Bangkok bank is no cheaper than any other bank from UK. Anyway, here's what i do.

1. I use Halifax bank. Send in Sterling, £9.50 fee, plus receiving fee (as said, usually under 500 baht). so you could get your pensions paid in and sent once for under a 1000 baht;

2. But i also have a Clarity credit card from Halifax bank, this allows fee free withdrawals in other countries, you only pay interest from date of withdrawal until you pay your bill (which you can do online). if use at Aeon ATM you pay about 0.75% Visa/MC currency conversion fee (same as for bank transfer) and the interest. My interest is typically about £5 a month and can take out money when i want to and not just once a month. So slightly cheaper than interbank transfer.

3. Also if you have enough going through your Halifax bank account each month and 2 direct debits, you can have a reward account and get paid £5 a month; if you go to the UK and spend £300 on the credit card you get £5 on that as well.

MAKE BANKING PAY !

Post by **TomKe** » November 30, 2013, 12:23 am

Transfer funds in your western currency, let the Thai bank change to THB. Saves many 1000bath a year compared to using foreign atm.

http://bankexchangerates.daytodaydata.net/default.aspx
Will give you an idea of witch bank gives the best rate for your currency.

I use TMB, for Norwegian Krown very good rates, good service, you can communicate with the bank for the exact time of the changing.
Only problem, for TMB you need a working permit or have the account in wifes name.

Post by **Firfox** » November 30, 2013, 8:06 am

I send money via swift in sterling from my Nationwide account in the UK to my Bangkok account. I only get charged a 25 pound transfer fee. I get the travellers cheque selling rate (top rate shown at the end of the Colum.)

Post by **GARYZX6R** » November 30, 2013, 8:18 am

Firfox wrote:I send money via swift in sterling from my Nationwide account in the UK to my Bangkok account. I only get charged a 25 pound transfer fee. I get the travellers cheque selling rate (top rate shown at the end of the Colum.)

Dont forget fox the Bangkok bank charge as well,up to 500 bht per transfer.

Post by **trubrit** » November 30, 2013, 9:06 am

For those that don't need their pension every month to live on, you can open a foreign currency account at most Thai banks where you can accumulate your pounds &dollars without any charge at either end, then when you need it or if the exchange rate is favourable, change it into baht. There is only one charge of 500bht regardless of how much you are changing .

Post by **TomKe** » November 30, 2013, 9:55 am

The banks makes their money on the changing, not on the fee. Some banks transfers even without fee, because the fee is insignificant compared to what they can earn on the changing.
So its the changing rate you have to look at to save money.

http://www.xe.com/currencycharts/?from= ... HB&view=1W

Compare your currency with the different thai banks in my previous link.
(It will not be updated in the weekend)

Post by **Bouph** » November 30, 2013, 10:30 am

Post by **TicToc** » December 4, 2013, 10:53 am

Just come up on AOL UK.
http://hotsearch.aol.co.uk/2013/12/03/e ... d%3D227100

Post by **BigRick808** » December 8, 2013, 3:44 pm

I haven't read through all of these posts, but I always get a rate just slightly lower than the official rate plus 1%. That's the case with two banks using a Visa card and a MC. The rate I get is a little better than if I walked up and exchanged cash.

Post by **BigRick808** » December 10, 2013, 2:37 pm

Just want to add that I tried a couple of machines this morning that wanted 150 baht for the transaction. The ones that I used at Central Plaza don't have a fee.

Post by **mortiboy** » December 10, 2013, 3:24 pm

BigRick808 wrote:Just want to add that I tried a couple of machines this morning that wanted 150 baht for the transaction. The ones that I used at Central Plaza don't have a fee.

But I wonder what exchange rate they give?
Maybe they charge higher rate ?.... Swings and roundabouts?

Post by **kubotatim** » December 10, 2013, 3:33 pm

These must have been Neon machines all the others charge 150/180 baht, the exchange rate is determined by your home bank in my experience and is usually the TT rate.

Post by **douglas** » December 11, 2013, 7:58 am

Hi,
I have yet to find a machine that gives you a good ex. rate and not charge 150B for a non Thai card. Would be grateful to know where there is one. I have tried all the machines stated here and yet to find one. I am not complaining about this, just stating my views.
Myself I use a offshore British bank and transfer my pensions out here each month to my Thai bank, in GBP, and am a happy chappy.

Post by **BigRick808** » December 12, 2013, 8:49 pm

mortiboy wrote:
BigRick808 wrote:Just want to add that I tried a couple of machines this morning that wanted 150 baht for the transaction. The ones that I used at Central Plaza don't have a fee.
But I wonder what exchange rate they give?
Maybe they charge higher rate ?.... Swings and roundabouts?

I'll probably never find out unless I'm in a pinch and need to use one. I passed them by.

Post by **Stantheman** » December 13, 2013, 1:35 am

Question for those who transfer money from U.S. bank to Bangkok bank. Has anyone sent a large amount, say 10K or more dollars, with any problems or delays. Wife plans on doing major house repairs (30k or more) and will soon be needing money to pay for repairs. Plan on only sending what is needed at the time, not all at one time.