hi all , i am hopefully moving to LOS in january and will be renting out my house in the uk ..
could someone please advise me of the best way of transfering money from my uk bank account, on a monthly basis ( currently nationwide & hsbc ) to my thai bank account ( currently siam bank
nationwide charge me £30 when i send money no matter how much & western union charge far to much for everything although very easy.
obviously i would like to pay the least costs possible and get the best available exchange rate .
You could try transferring less frequently - personally, I intend transferring once a year. I haven't checked it out, but I'm told that Halifax are cheap for doing international transfers - in fact, I'd like to hear comments.
The other thing you need to consider is being able to access your money in the UK easily whilst in Thailand. I've been advised by a few that Lloyds and HSBC allow you to make international money transfers using online banking. Again confirmation of this and notification of other banks offering an online service would be appreciated.
Just a thought that I don't think anyone has mentioned before. If you are transferring funds into a Thai nationals account (your wife), if the amount is equiv of USD 20,000 or more the bank asks for an explanation as of what the funds are for, and a form needs to be filled out. I don't know if the same is true for a foreigner transferring to his own named account here. Pete
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If HSBC UK functions the same as HSBC Hong Kong, yes it's correct BB. It's a little more complicated though as you have to register the recipient by way of a mailed form to the bank. Once that's done the recipient will always appear on your HSBC internet funds transfer screen. When you first set things up you also have to designate a maximum amount allowed per transfer. Pete
Governments are instituted among Men, deriving their just powers from the consent of the governed. Source
Lloyds tsb still do international transfers the fee is 20 pounds. Takes 2 days to arrive, However if you internet bank with Lloyds you can do an international transfer on line for yourself, the fee is 10 pounds, check first to make sure you can do it to Thailand.
Woke up this morning breathing that's a good start to the day.
thanks guys , i'm hoping that when i make the regular monthly payments it will still be transfered in sterling and converted to baht in thailand , you get a much better rate that way .
Just took a look at my NatWest online banking, and it looks as though I have the same international transfer facility with them I'll get it checked out the next time I'm near the bank.
It sounds too good to be true. No charges, very favourable exchange rate (almost 1 Baht to the Pound more than you'd get in Thailand)- where do they make their money?
Remember to keep all copies i=of transfers into Thailand, if you want to transfer a large amount out of Thailand they want to see where the money came from originally
No trouble using Lloyds online transfers there's a large drop down selection menu to state the reason for transfer however they do use a 4 digit security code that is automated by sending a sms to your registered phone that has to be typed in to the online form within a few mins. I presume you can make this a Thai number if you don't use your UK number in Thailand.
Whaler wrote:...... I presume you can make this a Thai number if you don't use your UK number in Thailand.
I've had trouble before sending SMS from a Thai cell phone to a foreign cell phone....they never arrived. I don't know about the other way around. Anyone have experience with SMS between countries and different phone systems? Pete
Governments are instituted among Men, deriving their just powers from the consent of the governed. Source
I've been using Halifax online to transfer funds to my Kasikorn online account for the past 3 years without any problems. halifax charge a flat fee of 9.50 whatever the amount. If I transfer the funds mid morning it is usually in my Thai account later that same afternoon.
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Just took a look at my NatWest online banking, and it looks as though I have the same international transfer facility with them 
