I'm due to arrive over in Thailand next Monday, so I thought I'd better sort out my finances.
I will be opening a Thai bank account when I get over there.
At present I have 4 company pension schemes which get paid into my Lloyds TSB account here in the UK.
I asked Lloyds this morning if when I get over to Thailand and open my Thai bank account, can I go online and transfer money from my Lloyds account to my Thai account. To cut a very long story short, basically the answer is no!
Does anyone know if there is a UK bank that will allow me to transfer money to myself in Thailand?
I guess I could always write to the pension companies and ask them to pay my pensions directly into my Thai bank account, but I would rather control my money via the UK if possible.
Any help or advice would be greatly appreciated as always.
As far as i know, although it should be technically possible, none of the big UK banks will allow this (I assume it may have something to do with money laundering laws). I seem to recall someone on here saying HSBC bank can as they have a branch in Bangkok but my recollection could be wrong. Failing that option, your best bet would be to open an account with an offshore bank (there are several based in places like the Channel Islands and the Isle of Man, often different arms of the big banks, so i would imagine Lloyds might well have), who I am pretty sure do offer the online transfer facility you are after. However these accounts often require largish sums to be deposited to open the accounts - Bank Of Scotland International requires £5000 for example, but the account does offer a decent interest rate and all the facilities you would expect from a normal bank. I'm sure this is the same for all of them, so try doing a Google search on offshore bank accounts. As you already bank with Lloyds TSB I'd look at them first to see if they do this.
Hope that helps.
Onlyme wrote:Nationwide.......................
I'll just wait for the flack!
PS. Yet to pay a penny/baht bank charges in over 7 years of using their banking over here.
No flack, just curious - are you sure that you can go online and transfer money from your bank in the UK to your bank in Thailand, or are you talking about ATM withdrawals which you then pay in here? That would work but Don asked specifically about online transfers, which i didn't think were possible from the UK to Thailand.
Wanderlust. You're exactly correct. I use my ATM card over here but, it doesn't stop me from using SWIFT transfer ( I have to pay) to my account over here.
Hope that clarifies.
PS. I still think that Nationwide gives great service.
Onlyme.
You use your Nationwide ATM card in Hua Hin and draw Baht. Nationwide will simply convert and debit your UK account with the Sterling equivalent (at Thai echange rates - not UK) - no additional charges.
Don, you can use your UK bank ATM card to withdraw baht in Thailand which will be converted from sterling deducted from your account in the UK.
The main problem with this is that many people, including myself have periodically had the account blocked because the bank finds the transaction suspicious for some reason, requiring a phone call to un-block it.
You can make transfers to your Thai account by sending a letter, or a friend of mine managed to get his bank to accept a fax with I think Barclays, by signing a disclaimer.
So I guess I can open a Nationwide account, get an ATM card and use that. I'll also be able to keep my pensions coming into my Lloyds account and just transfer money to my Nationwide account as and when I need to top it up.
Having said all that, why can't I just use my Lloyds ATM card, or do they charge for that I wonder?
Just to confuse things further, do you get a good (fair) exchange rate from Nationwide?
I've not joined the Nationwide clan yet, but have read what many on this forum have said in the past. Nationwide do not charge you one penny/Baht for using your ATM. I think Nationwide are the only ones who don't levy a charge.
Nationwide reportedly offer a very favourable exchange rate - I'm sure some of the locals (expats) will confirm when they wake up tomorrow
A word of warning though if you're moving to Thailand. I seem to remember Sargeant had a couple of problems when he couldn't quote a UK address, so you need to think ahead on that one. Personally, when I move to Thailand, I will make my UK base for matters such as banking my brother's address.
If the OP makes transfers from the UK to Thailand, just make sure that the money is transferred over here in GBP. That way the Thai bank will convert it to Baht at the onshore rate. So about 65/66 at the moment, rather than the offshore rate of maybe 60.
Just seen your post, BB and Barclays certainly don't like my statements going to a UK address and activity on my card via ATM being here. My card used to be blocked regularly until I finally realised the reason why. So, I make a diary note for the next time I have to call the security centre. It's not too bad when you get used to it. Sometimes they give me 3 months, sometimes only one. This morning I got clearance until 1st June. It must be Xmas again
lomuamart wrote:Just seen your post, BB and Barclays certainly don't like my statements going to a UK address and activity on my card via ATM being here. My card used to be blocked regularly until I finally realised the reason why. So, I make a diary note for the next time I have to call the security centre. It's not too bad when you get used to it. Sometimes they give me 3 months, sometimes only one. This morning I got clearance until 1st June. It must be Xmas again
My daughter uses my NatWest ATM card in Hua Hin whenever I've got to pay school fees etc with no problems at all. She's been doing it for years.
Not sure if anyone else does this, but I have monies paid into Bangkok Bank in London. It's then easy to have that transferred to Bangkok Bank here. You can even instruct the bank that any money paid in should be automatically transferred here.
lomuamart wrote:Just seen your post, BB and Barclays certainly don't like my statements going to a UK address and activity on my card via ATM being here. My card used to be blocked regularly until I finally realised the reason why. So, I make a diary note for the next time I have to call the security centre. It's not too bad when you get used to it. Sometimes they give me 3 months, sometimes only one. This morning I got clearance until 1st June. It must be Xmas again
My daughter uses my NatWest ATM card in Hua Hin whenever I've got to pay school fees etc with no problems at all. She's been doing it for years.
Having said all that, why can't I just use my Lloyds ATM card, or do they charge for that I wonder?
