Money transfer

Post by **Onlyme** » Mon Sep 25, 2006 1:43 am

I can't believe that anyone in the UK does not hold a bank account with the Nationwide Building Society! I have been with them for years, lived in Thailand for over 4 years and never paid one baht/penny for their services.
You guys need to WAKE UP!
Onlyme.

http://www.nationwide.co.uk/default.asp

Post by **Big Boy** » Mon Sep 25, 2006 3:29 am

Onlyme,

Can you clarify your statement please? Are you saying that:

1. You keep your money in your Nationwide UK account, and draw as you need in Thailand using your ATM card?

2. You transfer money from your Nationwide UK account to a bank in Thailand?

If the answer is '1' then it does not really answer the OP. I agree that Nationwide do not charge for their ATM services abroad. However, I have recommended my solution at posting number 4, but have advised using Nationwide to avoid incurring charges. I have recommended this to several friends. Nationwide have obviously realised that they are losing a lot of money because not one of my friends (one of whom already has quite a large Nationwide deposit in a non-ATM account) has succeeded in opening an ATM account for this purpose. NatWest are the only ones that I know who will readily provide an ATM account for this purpose.

If the answer is '2' please tell me more - I and a lot of people here in the UK will be very interested in how you do it.

Please wake me up!

Post by **Guess** » Mon Sep 25, 2006 11:46 am

STEVE G wrote:Hi Handsome Buddha,
Have you considered using Western Union, this is not the cheapest way of transferring money, but it is convenient, safe and the money is available straight away.

There is no point of me going through everything again, I think most poiint have been accurately however you did not answer big boy's relevant question about why the helll would you want to transfer baht rather than sterling.

In my expersince Western Uninon is the best for a small amount of money. I cannot remember the threshhold but it is something between 100 and 300 pounds. All you have to do is supply the cash (they will tell you how much PST for the required number of Baht) and the full name of the recipient. They then give you a PIN. You have to text the PIN to the recipient and the guy goes down to the Western Union agent here (all Bank of Ayuttya and others) and gives the PIN that you have sent to him by SMS (ensure that you have mail receipt switched on on your phone). By the time he gets your message and saunters down to the bank the money will be there. Any branch will do. The PIN identifies the transaction. He will have to show his ID card to get it so you have some receipt if he tries to deny getting it.

If it is a larger amount than that then get him to find someone he trusts with a Bank of BKK account and send the money to Bank of Bangkok in London (I am assuming that you are in England, but they have branches in most major cities anyway) and send the money either by cheque or cash at the branch. This will take about 4 days for the cheque to clear and another four days for the transfer. There is a minimum charge of about 25 pounds and that does not increase until you get to about 5000 pounds. Also the exchange rate is as good as you get here.

As for your question about changing cash to Baht for yourself. THe cheapest way has always been to bring cash and your ATM card. Cash slightly cheaper but more risky. A tip on the ATM card is to bring two and make sure that they are good condition. If not snap it in two in front of your bank teller and tell them to give you a new one.

Never keep the two in the same place, never let anybody stand behind you at the ATM, do not write you PIN anywhere related to the location of the card. If you are the sort of person who can not remember PINS then write it down using some kind of basic code (e.g. letter of the alphabet backwards. The first four words on the page of a book that you are carrying or something like that. The alternative is to change your PIN to something that represents something that you know but noone else will.

Whatever, all these methods may in some way have been hampered by recent events but I have not heard of any so far.

Post by **PJG** » Mon Sep 25, 2006 3:07 pm

Word of caution in relying on ATM. Just returned from Hua Hin and found while there that was unable to draw money from ATM,s using a UK Debit Card after the first time of use. Went into the Bank and was able to get money over the counter with the card. The manager expained that there is a lot of Card Fraud via ATM,s in Thailand so many cards are now being blocked after the first withdrawal. This can be a big nuisance if you need money at week-ends or Bank holidays.

Actually depending on the UK Bank you use ATM,s are quite expensive. While in Thailand in August Barclays charged Commission of £3.90 and fee of £2.91 for Baht 10,000 withdrawals.

Actually the cheapest way to change money in Bangkok is to take £50 notes and change at a Black Market momey changer like Vasu. The rate for £50,s is always better than £20 notes and always better than the bank rate.

Post by **Kraka's Dad** » Mon Sep 25, 2006 3:39 pm

As posted before use Nationwide. No fees and very good rate.
Always tell your bank that you are going to Thailand and for how long then they will expect the usage.
Never had any problems with them at all.
Also did not have any problems with Nat West but chrges and poorer rate so changed to Nationwide.

Post by **Big Boy** » Mon Sep 25, 2006 4:46 pm

Kraka's Dad,

How long ago did you open your Nationwide account? Did you encounter any problems please? I'd like to establish whether Nationwide's reluctance to open an ATM account for this purpose is general or just localised.

Something I did not say in my earlier post was that my friend who already has a non-ATM account with Nationwide was told that he could open such an account, but had to guarantee a large amount of money passing through it every month.

Post by **Kraka's Dad** » Mon Sep 25, 2006 6:46 pm

It was about a year ago I opened the Nationwide account but it is a joint account used for everything and not just for travelling so money goes in each month. Did not have any problems at all.
Maybe they want you to have your Nationwide account as your main one ??

Post by **Big Boy** » Mon Sep 25, 2006 6:51 pm

Kraka's Dad wrote:

Maybe they want you to have your Nationwide account as your main one ??

Thats probably correct, but I think its well worth examining further before I make the big move.

Post by **Kraka's Dad** » Mon Sep 25, 2006 7:44 pm

Yes best to weigh up all the pros and cons before changing.
But saying that it was over six months before money was regularly going into the account.

Post by **canthai** » Mon Sep 25, 2006 9:49 pm

Hi I have wired money many times from my account in Canada to my account in Thailand. The money is wired in Canadian funds and converted to Thai Baht when it is deposited into my Thai account. I have a house in Hua Hin which I rent out as well. I have my clients wire funds directly into my account. It works very well.

Post by **Onlyme** » Tue Sep 26, 2006 1:03 am

Bigboy. I've just deleted my earlier post as you asked me to read/look at your post.
WTF would you need to send big money here?
You can draw up to 20,000 baht per day from the Nationwide at no cost whatsoever.
I don't need to pay monies from my account for withdrawals!
I've recently had over 75 baht to the UK pound.
I've never paid one baht on commission etc.........
I gave you the link.Go look at it!
Onlyme.

Post by **natsglass21** » Mon May 26, 2008 9:12 pm

Please can anyone tell me the address for a Western Union in Hua Hin?

Post by **STEVE G** » Mon May 26, 2008 9:31 pm

If you go to the Western Union website you can find the nearest agent to anywhere in the world, but in Hua Hin you can use any of those banks around town with the yellow front. I forget the name but there is one on the main road just south of the centre.

Post by **STEVE G** » Mon May 26, 2008 9:44 pm

It's the bank of Ayudyha.

Post by **chelsea** » Tue May 27, 2008 12:20 am

Perhaps also try the Post Office, nearly every Post Office in Australia is an agent for Western Union