Transfer money to a Thai Bank Account

[mrfixer]

UK residents should apply for a Halifax Clarity credit card. There is no charge for overseas transactions. I usually go in Krungsri bank and draw out say £2k worth of THB from the teller (to avoid ATM fees). Normally you will get that day's TT rate. Then just pay the cash into my Bangkok Bank account. To avoid card interest fees you can preload your Clarity card before using it, or transfer money onto it directly after making the withdrawl.

Cheapest way I can think of (no fees or charges at all and TT rate).

[JohnnyC3D]

Cant comment on UKs credit cards.

 

My canadian one will hit you for 1.5% on any cash withdrawals plus immediate interest (negated with a preload).

[Scuba+]

UK residents should apply for a Halifax Clarity credit card. There is no charge for overseas transactions. I usually go in Krungsri bank and draw out say £2k worth of THB from the teller (to avoid ATM fees). Normally you will get that day's TT rate. Then just pay the cash into my Bangkok Bank account. To avoid card interest fees you can preload your Clarity card before using it, or transfer money onto it directly after making the withdrawl.

Cheapest way I can think of (no fees or charges at all and TT rate).

Clarity is meant to be £500 a day limit. I got 50,000 out the other day but since then 20,000 has been the max they would give

[mrfixer]

Cant comment on UKs credit cards.

 

My canadian one will hit you for 1.5% on any cash withdrawals plus immediate interest (negated with a preload).

Credit cards vary a lot in what they charge. You have to survey the market.

Halifax Clarity is very popular amongst UK international travellers - no fees or charges on overseas transactions or cash withdrawl.

[Kandinski]

davidge I'm the same as you I've been hanging on before transferring money over for my December trip

 

Currencies direct are now showing 42.7672 baht to the pound.  Which is fractionally better than the last time I checked

 

I was thinking of transferring my money today but it might be worth waiting 24/48 hours because the US election is only tomorrow.  And see what happens

 

42.93625 for transfer, Kasikorn round 3 today. http://www.kasikornbank.com/EN/RatesAndFees/ForeignExchange/Pages/ForeignExchange.aspx

 

Huge saving if you bring cash and change @ Buakhao...allmost 20 satang to the GBP.

[OoJohnnyoO]

I use Currencyfair and/or Transferwise, I haven't used my bank to transfer money overseas in years, complete rip off! High fees and shitty conversion rates.

 

If you have a large amount to transfer and a bit of time to spare, currencyfair has a market place where you can shop around for a better conversion rate.

 

Both have low fees and very competitive conversion rates.

Transfer times can vary between 2-5 days.

 

Never had an issue with either service.

[Sexyfarangman]

In 2008 I opened a Thai Bank account.  So before every trip to Thailand I transfer my holiday money from the UK to my Thai bank account.  And whilst I am in Pattaya/Thailand I use a thai ATM to get my spending money.

 

I usually use Currencies Direct to transfer my money to Thailand.

 

And I like to think I get a good rate

 

I was wondering if other addicts transfer there holiday money to a Thai bank and use an online company.  One which might even be better than Currencies Direct 

 

I transfer from my US bank right into Kasikorn.

[blue1878]

I transfer from my US bank right into Kasikorn.

I used to transfer from my UK bank to Siam Commercial Bank and after the money was sent I would always check online to see when it went into my SCB account.  Once in I checked it and the exchange rate wasnt good.  So I then started looking around to see how I could send the money to SCB and get a better rate.  And ended up using Currencies Direct

[davidge]

Well, exchange rate started to improve - got up to 43.8 - but then fell back again.

I'm still holding off for now but without too much hope.

[blue1878]

Well, exchange rate started to improve - got up to 43.8 - but then fell back again.

I'm still holding off for now but without too much hope.

davidge Ive decided to take a chance and have just transferred my holiday money to my thai bank account

[davidge]

davidge Ive decided to take a chance and have just transferred my holiday money to my thai bank account

I'm still holding off but not optimistic for improvement.

Rate did sneak up yesterday. Have to wait to see what happens Monday.

I avoid transferring on a weekend anyway.

I'll either transfer Monday/Tuesday or a week later.

[Scuba+]

I'm still holding off but not optimistic for improvement.

Rate did sneak up yesterday. Have to wait to see what happens Monday.

I avoid transferring on a weekend anyway.

I'll either transfer Monday/Tuesday or a week later.

Yes the weekend they seem to drop the rate to cover themselves for Monday.

[blue1878]

I'm still holding off but not optimistic for improvement.

Rate did sneak up yesterday. Have to wait to see what happens Monday.

I avoid transferring on a weekend anyway.

I'll either transfer Monday/Tuesday or a week later.

Good luck for Monday/Tuesday

 

I think your wise to wait till then

[tormap81]

Do you get a thai Visa card for taking out this cash or do you withdraw it by talking with a bank clerk?

[davidge]

Do you get a thai Visa card for taking out this cash or do you withdraw it by talking with a bank clerk?

You get a card when you open the account. There is an annual fee. In my case, it is about 1000 baht. There are cheaper options with some banks. You also get a passbook which you can use to withdraw cash at the bank counter.

[Billyboy294]

You can get a Bank ATM card for withdrawing money from ATM machines or pay a little bit more and get the banks Visa debit card which you can also use for buying goods , but not on the internet.

 

My fee for the ATM card was 200 pa.

[Scumbag]

I send sterling from my HSBC account, they charge me £4 that's it and my Thai bank (SCB) convert at a local rate which I've always been happy with.

I do this using Internet banking after I've arrived if I need additional funds to the cash I travel with.

Depending on the channels that HSBC use there will likely be either a charge by an intermediary bank or by SCB. Due to this you will get slightly less than the current SCB rate.

[blue1878]

When I opened my bank account at Siam Commercial Bank back in August 2008 I was given a pay in book plus a ATM Debit card.  So when I want money I just use the card to get money from an ATM.  Also during my stay in Pattaya I might go into a branch of the SCB and get the book updated

[davidge]

Sent my money on Monday from my Lloyds bank account.

It's showing in my Thai account this morning (Thursday).

 

I sent £3500 in GBP and 153066.68 baht was credited to my account.

So, including the fees either end, the effective rate I got was 43.73.

I don't think that compares too badly with changing cash in Pattaya this week?

 

Of course, now I've sent it, the exchange rate will probably improve next week!!

[Scuba+]

Sent my money on Monday from my Lloyds bank account.

It's showing in my Thai account this morning (Thursday).

 

I sent £3500 in GBP and 153066.68 baht was credited to my account.

So, including the fees either end, the effective rate I got was 43.73.

I don't think that compares too badly with changing cash in Pattaya this week?

 

Of course, now I've sent it, the exchange rate will probably improve next week!!

Yeah not too bad. I just had a look how that compared to Clarity FX and the rate was over 44 the last 3 days so about 1% better. I think Buakhao TT was high 43s/low 44s this week

[socrates]

Sent my money on Monday from my Lloyds bank account.

It's showing in my Thai account this morning (Thursday).

 

I sent £3500 in GBP and 153066.68 baht was credited to my account.

So, including the fees either end, the effective rate I got was 43.73.

I don't think that compares too badly with changing cash in Pattaya this week?

 

Of course, now I've sent it, the exchange rate will probably improve next week!!

 

What about the sending fee?> I understand the receiving fees...

[davidge]

I've taken that into account in my figures above.

Lloyds charge £9.50 so I actually sent £3490.50

That meant £3500 was the actual amount debited from my account.

 

The 'effective rate' of 43.73 takes account of both sending & receiving fees.

 

I just checked and Yenjit Pattaya show 44.00 today for £20's and £10's

 

I'm with Krung Thai. They are showing 43.90 for transfers. Though only 43.49 for cash.

[Guest]

I transfer from my US bank right into Kasikorn.

so did I, ONCE, never again, wire transfer fees, shitty exchange on both ends, lost huge.

Better to take cash, find the best currency exchange and then deposit.

[regyai]

How do you incur exchange at both ends on one currency to another

[Scumbag]

so did I, ONCE, never again, wire transfer fees, shitty exchange on both ends, lost huge.

Better to take cash, find the best currency exchange and then deposit.

You need to explore other options. One of those for you might be CanadianForex.