Getting money into Thailand

Visa questions, companies, work permits, employment, insurance, banking and finance, and legal issues.
SPONSORS: Chavalit & Partners : AA Insurance
sateeb
Ace
Ace
Posts: 1385
Joined: Sat Jul 23, 2011 8:51 am

Re: Getting money into Thailand

Post by sateeb » Sat May 14, 2016 6:21 pm

terry+carmen wrote:We use this service "TransferWise" better rate than HSBC UK. We have a rate alert at 50 baht to the pound and move money to Thailand whenever its over that predetermined rate.

The mid-market rate over the last 30 days

0.32% vs 1 day ago (it was 1 GBP = 50.908 THB)
0.31% vs 1 week ago (it was 1 GBP = 50.916 THB)
2.16% vs 1 month ago (it was 1 GBP = 49.992 THB)

TransferWise always uses the real exchange rate - the rate shown on the Rate Tracker, Google and XE.com - and only charges a small transparent fee, making it the smarter, fairer way to move your money.

PM me for the link.

www.transferwise.com
"I've met some people — real people, okay?" Selina says of the voting public. "And let me tell you, a lot of them are fookin' idiots." Taken from Veep TV series

Bluesky
Professional
Professional
Posts: 495
Joined: Sat Sep 26, 2015 1:56 pm
Location: Hua Hin, Outback Queensland

Re: Getting money into Thailand

Post by Bluesky » Wed Jun 22, 2016 4:15 pm

UK money transfer site Transferwise to suspend service during BrexIt vote

Transferwise said it will suspend pound transfers on Thursday in anticipation of currency volatility caused by Britain's referendum on European Union membership.

The London-based money transfer website will resume its service when the referendum results are announced on Friday

It will suspend incoming pound transfers on Thursday morning and outgoing transfers at 6 p.m., the company said in an emailed statement.

The vote on whether Britain should remain in the 28-member bloc is too close to call, according to recent polls, and uncertainty about the outcome has driven trade in sterling since late last year.

(Reporting by Ismail Shakil in Bengaluru; editing by John Stonestreet)

http://www.reuters.com/article/us-brita ... me=topNews

User avatar
J.J.B.
Guru
Guru
Posts: 801
Joined: Sun Jul 22, 2012 10:03 pm

Re: Getting money into Thailand

Post by J.J.B. » Mon May 15, 2017 2:11 pm

For those who are familiar with http://www.xe.com/ for checking rates and the like via their website or mobile app, they recently started to offer currency transfer services too. I've just made my first transaction with them (May 15) and am very pleased with the rate I got and the simplicity of the overall process.

HHF is showing today's rates at 44.6 THB to the GBP and I got 44.1 from XE with no additional fees from the UK. Compare that with my bank rate of 43.6 (which is already pretty good) and I saved myself 1,000 THB on a transfer of 2,000 GBP. The difference between the wholesale rate and the rate I got also only cost me 1,000 THB in total, whereas my bank would have charged an additional SWIFT transfer fee of 20 GBP.

Setting the account up was quick and simple, for me at least, there were no extra forms to complete or documents to upload. I'm interested to see if it's possible to do transfers out of Thailand as well as what charges might be levied by the receiving bank in Thailand (Kasikorn) but so far, I'm impressed. The service is run by HiFX and XE.com has been owned by Euronet since mid-2015.

If others are using this service it would be great to hear of your experience, good or bad, to see whether this is a keeper or not! :cheers:
"A man who does not think for himself, does not think at all."
Wilde

robcar
Professional
Professional
Posts: 286
Joined: Mon Apr 28, 2014 10:28 am

Re: Getting money into Thailand

Post by robcar » Mon May 15, 2017 2:47 pm

I have used XE and also TorFX both of which I found excellent. I have recently opened a Bangkok Bank account and just last week did a transfer through their London branch direct to my account here. Cost were minimal as there is no exchange in London, the GBP is exchanged at local rate in Thailand. I got just under 44 but the rate was a tad lower last week.
Look here for info and how it's managed http://www.bangkokbank.com/BangkokBank/ ... romUK.aspx

User avatar
buksida
Moderator
Moderator
Posts: 15595
Joined: Tue Dec 31, 2002 12:25 pm
Location: south of sanity
Contact:

Re: Getting money into Thailand

Post by buksida » Mon May 15, 2017 3:39 pm

J.J.B. wrote:
Mon May 15, 2017 2:11 pm
For those who are familiar with http://www.xe.com/ for checking rates and the like via their website or mobile app, they recently started to offer currency transfer services too. I've just made my first transaction with them (May 15) and am very pleased with the rate I got and the simplicity of the overall process.
Do you know if the XE service works just as well the other way round (getting money out of Thailand)?
Who is the happier man, he who has braved the storm of life and lived or he who has stayed securely on shore and merely existed? - Hunter S Thompson
Get out there: On The Road Asia

User avatar
J.J.B.
Guru
Guru
Posts: 801
Joined: Sun Jul 22, 2012 10:03 pm

Re: Getting money into Thailand

Post by J.J.B. » Mon May 15, 2017 5:56 pm

Buksi, later in the post I reference that I have yet to do that but hope to try it out in the not-too distant future and will update the post accordingly.
"A man who does not think for himself, does not think at all."
Wilde

Bluesky
Professional
Professional
Posts: 495
Joined: Sat Sep 26, 2015 1:56 pm
Location: Hua Hin, Outback Queensland

Re: Getting money into Thailand

Post by Bluesky » Mon May 15, 2017 9:45 pm

J.J.B. wrote:
Mon May 15, 2017 2:11 pm

..........If others are using this service it would be great to hear of your experience, good or bad, to see whether this is a keeper or not! :cheers:
Have been using HIFX for 4 or so years now for fx transfer from Australia. Spreads are always far more competitive than banks and I can leave buy orders (limit) in place to catch short term market spikes. For larger amounts from Aust You can negotiate the rate with them and likewise no 'Add on Fees and charges.' Also use TorFx as a backup. Transfer times are circa 24-48 hours. To date have not experienced any issues. I have spoken recently to HIFX and they have advised they can move funds out of Thailand at a better rate than from the local banks. They did however add that it would be a little slower outbound given market liquidity for THB/AUD.

Post Reply

Who is online

Users browsing this forum: No registered users and 17 guests