money advice please

[Ian]

Hey guys

Well my wedding is coming up fast (27th April). It all seems very surreal as me and the GF are having to organise everything by phone and through her friends as we're both in the uk at the mo. Hope everything goes to plan! (not that we have one really!!! In true Issan style )

The question is what is the best way to take a large sum of money over to Thailand? I'm looking at about ฃ4,000 which i've allocated for the wedding and obviously looking for the best exchange rate.

I bank with Nationwide Building society (very recommended) so no bank charges for withdrawals but how does that compare to say Travellers cheques or transferring the whole balance to my GFs thai bank account and her withdrawing it?

I'm trying to work it out the figures myself but any help would be hugely appreciated.


Ian

[AZscott]

I have wired money directly to a Thai bank account many times. The fee is reasonable and the exchange rate decent. It is always available for withdrawal within 2 working days of when I sent it. For me it is the easiest way to go. Congatulations on your marriage!

[beer monkey]

sending under 10 grand from uk, should cost around ฃ25.00 urgent transfer,2-3 days or ฃ20.00 standard 7 days,(my high street bank) send in sterling and the bank will convert to baht in Thailand you seem to get the best rate like that, wether thats the best way i don't know, "jimboPSM" the money man will know.
Travellers chqs well you have to buy them, then have to pay to use them so unless they do cheques in ฃ1000 form, maybe not so good.

[Stevo]

Congrats Ian... =D>

I also bank with Nationwide (Flex acc.) and can recommend it.
You can do it online too, once registered... cost ฃ20 (as BM says), and you will need the SWIFT code for you're girlfriend's bank in Udon.

[JimboPSM]

sending under 10 grand from uk, should cost around ฃ25.00 urgent transfer,2-3 days or ฃ20.00 standard 7 days,(my high street bank) send in sterling and the bank will convert to baht in Thailand you seem to get the best rate like that, wether thats the best way i don't know, "jimboPSM" the money man will know.
Travellers chqs well you have to buy them, then have to pay to use them so unless they do cheques in ฃ1000 form, maybe not so good.

BM is correct sending sterling is generally the most cost effective but you do need an actual open account to send it to - one major caveat is that the "authorities" at the bank may misclassify the transfer and withhold 30% for a year or so until you can sort it out.

My personal preference at this point in time would to have a chunk in Nationwide which you could withdraw at 20,000 THB/day plus a chunk in high denomination sterling travellers cheques.

NB many UK travel "experts" recommend the USD for Thailand, ignore them, my advice for what it is worth -

• DO NOT TRANSFER GBP into USD unless you like losing money (you will get hit by exchange charges, fees, commissions etc)

[ntvillas2]

Nationwide (Flex acc.) i recommend it. Take 200.000 out Everyday and get the Best Rate with no Commission.
Its as Simple as That.

[panick]

I just got my travellers cheque in USD because its free at the Post office in the UK...also had a look at the exchange rates and forcast for the ฃ and the $ and it seems that the $ is doing better at the moment...bit of a last minute gamble as I'm off to Heathrow in 4 days .... Udon Saturday

[Doc]

I just got my travellers cheque in USD because its free at the Post office in the UK...also had a look at the exchange rates and forcast for the ฃ and the $ and it seems that the $ is doing better at the moment...bit of a last minute gamble as I'm off to Heathrow in 4 days .... Udon Saturday

Actually - the dollar is taking a nose dive again against the Baht.

[beer monkey]

Natwest are charging; ฃ25.00 urgent (2-day) transfer , any value
ฃ18.00 standard 4 day transfer , any value
and ฃ10.00 for relay 5 days, max amount ฃ2000.00.

[panick]

Actually - the dollar is taking a nose dive again against the Baht.

From what I could see when I changed the money the $ was only up for a Silver medal....The ฃ was heading for Gold in the Olympic Nose Diving competition ....still it'll all change again tomorrow and I'm out'a time...Still on the bright side its makes me feel rich as the travellers cheques are now nearly double what they would've been in Stirling

[laphanphon]

being it's only 4000, can't you just carry it, no fee or worries. if that amount not allowed, split between 2, mere 2000 each. the exchange rate in bank is same as atm. good luck and congrats

[Roy]

I have to agree with LA, I carried in a reasonable amount of sterling, went to the bank and changed it to Baht no worries. No stressing about will the branch make a mistake, will the computer system mysteriously implode or could it be lost forever in cyberspace.
I've seen many falang have problems with transfers and it's something you just don't need running up to your wedding.
The simple solutions are often the best.
Hope all goes well on the big day.

[beer monkey]

yes there's nothing like having cash on the hip....but some people may be a little worried about carrying large amounts of cash part way around the globe.

[banpaeng]

No problem BM, just carry it in USD and as Jimbo stated, no one will want it.

[Ian]

Thanks guys for your help and good luck messages

If she does take over cash is there a good bank/company to exchange it with ie usually offers a good rate or commission free like the UK Post office?

[treehugger]

Can I just revert to Ian's original posting that this is ฃ4,000 for a wedding? In my village you can buy a decent local house for that price, or is that also included in the cost? Of course, how you spend your money is your affair, but I would just be interested to know how you spend that sum on a wedding.

[Frankie 1]

Yes, I also think it is a huge amount for a wedding

[hxjohn]

Can I just revert to Ian's original posting that this is ฃ4,000 for a wedding? In my village you can buy a decent local house for that price, or is that also included in the cost? Of course, how you spend your money is your affair, but I would just be interested to know how you spend that sum on a wedding.

i would be intrested what it cost you in total if you are married gold shopping car money for familey bit of land 2 day party flights to thailand
ive sat back myself and it adds up to much more then you think in the long run
but if ya lucky it will be well worth while
good luck to him he may our may not need it
our did you get her cheap on the promise of a spouses pension
just a bit of humour no offence ment

[beer monkey]

Well Ian is the only one on here who knows where it is being spent but it should be a good p*ss up though.

anyway chok dee Ian and the future Mrs Ian.

[Ian]

LOL BM is correct, a lot of no doubt followed by a lot of :-&

We are hiring a reception room in the Chareon, which they are providing the food/drinks/entertainment/drinks/more drink!! + costs of dress/suit hire and professional photos.

shuttling 50 odd men, women and children from Sangkhom to Udon should be a good laugh (or total nightmare!)

Sin Sod (oooh them words ) B150,000. Which i'm quite happy to pay as Yanisa's always provided for her family. When she moves to England they'll loose this but will be debt free. Money they make from their little shop will go into they're pocket not the bank managers (which we all know is a good feeling) lol

Also includes her application money for UK Settlement, which i'm more pee-ed off with. Thanks UK gov for doubling visa prices now nearly B40,000 + hidden extras no doubt.

I can promise the inlaws a slice of pension lol but being 24 I think i would be getting the better half of the deal

A lot of money, but we've been saving together for 4-5 months now so we feel we've deserved splashing out and hopefully this will be a once in a lifetime thing....

.... or we might be young and naive mai pen rai