Phuket

gammeldansk · #1 01-11-2005, 05:21

I want to transfer money from the uk to a thai bank account in order to buy something. My bank wants to charge me £21 for the transfer. Does anyone know of a service that offers it cheaper?

steve@thaib · #2 01-11-2005, 05:25

Sounds ok to me, I would pay them.

Sirgezza · #3 01-11-2005, 05:27

Quote:

Originally Posted by gammeldansk

I want to transfer money from the uk to a thai bank account in order to buy something. My bank wants to charge me £21 for the transfer. Does anyone know of a service that offers it cheaper?

Sounds like a pretty standard charge, might take a few days for the funds to clear.

Have you bought a bar called g-spot agogo?

steve@thaib · #4 01-11-2005, 05:28

Western Union and the Post Office will do it, but I don't think they will save you any money. If you have someone over there, or you are there yourself, then you can draw money from your own account by switch for pennies, but sending money will not get a lot cheaper than that I think

Nicke · #5 01-11-2005, 05:31

www.xe.com have a service called XETrade for transfer money and they claims they offer the best conversion rates. Check them out.

Western Union have very bad rates and at the end very expensive, still fast thought.

Dodger · #6 01-11-2005, 07:40

Quote:

Originally Posted by Nicke

www.xe.com have a service called XETrade for transfer money and they claims they offer the best conversion rates. Check them out.

Western Union have very bad rates and at the end very expensive, still fast thought.

Foreign currency traders usually have a minimum they will transfer, so as long as you are sending over about £5,000 its the cheapest way I know, usually free or in other words absorbed in their exchange rate. £21 is standard for high street banks, so if lesser sum as already said use credit/debit card.

If anyone knows different please say cos I was trying to find a means of transferring interest from a sterling account monthly.

Sirgezza · #7 01-11-2005, 15:34

Quote:

Originally Posted by Dodger

Foreign currency traders usually have a minimum they will transfer, so as long as you are sending over about £5,000 its the cheapest way I know, usually free or in other words absorbed in their exchange rate. £21 is standard for high street banks, so if lesser sum as already said use credit/debit card.

If anyone knows different please say cos I was trying to find a means of transferring interest from a sterling account monthly.

Slightly off topic, but is that from an overseas account by any chance Dodger?

S1MON · #8 01-11-2005, 17:00

I recently transferred over 1000 pounds(dont ask), with the RBOS, the charge for the fastest transfer was 25 pound, the exchange rate i think was about 72 at the time, the thai bank ended up with 71,900 or so, so i got a reasonable rate, i will be doing this more often when i need money over there as when i use my cards (visa/switch) i am getting charged around 5 pound per time, so if i take out 130 pound(maximum on switch) it would cost me about 35 pound in costs for the same transaction.

so after all that, i think 21 pound is not all that bad, unless your sending under a couple of hundred pounds.

Simon

andy50 · #9 01-11-2005, 18:41

i sent money to los a few years ago,(don,t ask - i was bessotted and green in them days!) ) ,lloyds bank charged about £21- but it took a number of days for the money to clear
the post office charged the same but the transaction was/ is instantanious

StevieC · #10 01-11-2005, 20:24

I recently sent 300 pounds ex Bank of Scotland to Bangkok Bank in Khon Kaen. Using their "Express service" it cost me £34! Got confirmation through 5 days after I sent them the form and found they had quoted the wrong account number against beneficiary. Cost me a 20 minute phone call to get them to confirm it had actually gone to the right account.

Eventually got the transfer confirmed by my GF TEN days later ! If that's their "Express" service they can stuff it up their arses.

Previously I used the normal transfer service, it got there within 5 days and only cost me £14.

dizbuster · #11 01-11-2005, 21:44

Quote:

Originally Posted by StevieC

I recently sent 300 pounds ex Bank of Scotland to Bangkok Bank in Khon Kaen. Using their "Express service" it cost me £34! Got confirmation through 5 days after I sent them the form and found they had quoted the wrong account number against beneficiary. Cost me a 20 minute phone call to get them to confirm it had actually gone to the right account.

Eventually got the transfer confirmed by my GF TEN days later ! If that's their "Express" service they can stuff it up their arses.

Previously I used the normal transfer service, it got there within 5 days and only cost me £14.

I recently used NatWest and asked them to send 5,000baht to a certain young lady in Patong. It eventually cost me £18 but at the time they charged £36 and had actually sent the equivalent of £5,000, rather than debiting my account for the £ equivalent of 5,000baht

It took a week to get my money back and I'm still not sure if they recovered all their money, as when I telephoned the young lady to tell her about the mistake, she squealed with delight and the line went dead !! Their problem

syeatman · #12 01-11-2005, 21:53

I'm currently getting a family member to transfer money from my account to my gf as I can't do it over the phone or internet as I have to personally sign the instruction (Abbey)

I've done it before (£25), and find it much cheaper than drawing money every few days as I get charged about 2% each time. So any transfer over £1250 saves me money on charges, and I know the score up front.

A good site to check these things out is MoneySavingExpert

In particular look at these articles, you'll be surprised at the hidden charges you get hit with when you withdraw cash, and it varies hugely between banks.

Sending Money Overseas: Moving money large or small

The cheapest way to spend overseas

norrie · #13 01-11-2005, 22:37

Quote:

Originally Posted by gammeldansk

I want to transfer money from the uk to a thai bank account in order to buy something. My bank wants to charge me £21 for the transfer. Does anyone know of a service that offers it cheaper?

--------------------------------------------------------------------
ive transfered money with the bank and post office,,bank was around £20,,post office was only a few hundred bt,,you get a security number when collecting,,think it was thai military bank,,check at your post office,,dont thinjk much has changed

gregor200 · #14 02-11-2005, 00:09

i am using www.moneybookers.com

but it gets some time to start.

The rules are
you open a moneybookers account linked to your email address
you send some money to moneybookers (takes about 2 banking days)
moneybookers will send 10 cents to your account to get it verified.

you open a moneybookers account linked to yout gf
you transfer money from your moneybookers account to your gf account
costs you 50 cents per transaction
(immediate transaction)
link the bank account of your gf with her moneybookers account
transfer 720 baht (maximum) to her account for verification (takes about 3
banking days and costs you 80 baht)
she gets the confirmation code in her banking book and has to enter this
code into her moneybookers account

now you are free to transfer money

cost: 50 cent between moneybookers accounts
80 baht transaction cost from moneybookers account to bank account
plus banking fees of bkk bank for example.

transaction time : 2 days + 3 days (about) from bank account to bank account.

domifletch · #15 02-11-2005, 01:10

Good advices here... As I don't live in UK, I only tried towards my bank (really expensive) or with Western Union, that is cheaper but still expensive. WU is easy as you give money in notes and it's immediatly available in LOS, just with a refernce number.

Dodger · #16 02-11-2005, 01:19

Quote:

Originally Posted by gez

Slightly off topic, but is that from an overseas account by any chance Dodger?

Yes, I want to transfer interest from an overseas account to my bank account in thailand, the overseas account can be in sterling or euro as I've got two and just depends on which account I get the best return on, looking for 4.5 to 5%, this ideally would be monthly so I can use it as an income but really it doesnt matter cos could discipline myself to budget (not one of my strong points)(qualified financial adviser - good at telling others what to do).

stevem · #17 02-11-2005, 05:33

I transfer quite a bit of money around, and it cost me AUD20 (GBP8.30) each transfer. I have no problems with this amount.

Dodger · #18 02-11-2005, 07:09

Quote:

Originally Posted by stevem

I transfer quite a bit of money around, and it cost me AUD20 (GBP8.30) each transfer. I have no problems with this amount.

Can you expand on that a little steve, like, from where to where(country), currency to currency(what ones) and by bank or whatmeans? Obviously without incriminating yourself or being too personal. Or could you suggest how best for me to do it?

stevem · #19 02-11-2005, 07:32

Quote:

Originally Posted by Dodger

Can you expand on that a little steve, like, from where to where(country), currency to currency(what ones) and by bank or whatmeans? Obviously without incriminating yourself or being too personal. Or could you suggest how best for me to do it?

I just use my bank here in Oz via the internet. My transfers are from OZ to Thailand and Singapore. Without an account here, I cant see how you could make use of this.

Denver · #20 03-11-2005, 03:26

I can move money from my off shore $ account to any other account I want as long as I have verified the account I am moving the money to with my bank! So I am guessing I pop along to a branch of some reputable Thai Bank, open an account with a small amount. Verify that account with my own Bank and you know who is your Uncle!

I can do it for you too! Send details to the RBOD - No:1 Huge Mansion House (You can't miss it!) G.T. Grand Caymen, The Caymen Islands. I'll get Bob the Broker onto it for you straight away.