Sending Money FROM Thailand to Home Country

[w3bmast3r 0]

Hi Guys

 

Say I was wanted to send money from THAILAND to the UK.

 

First, can anyone recommend a THAI bank I can open an account with that would allow this. And second where would the currency conversion happen - Thailand or my home country. I am guessing it would be better to get it converted in Thailand but not sure.

 

Anyone got any experience of this. Even better if it was with transferring to the UK

 

Thanks

Dan

[Cerberus 97]

I have transferred money between Thailand and UK on several occasions without any problems. You might have to jump a few circles subject to the amount concerned, but I have transferred the equivalent of 10,000 sterling from Thailand to UK without any major hic-ups.

 

Whenever you transfer money into Thailand you should always get the bank to issue you a letter with regards the country of origin of the incoming transfer, this will assist you when it comes to transferring larger amounts out at a later date.

 

Normally you will get a 5 -- 7% higher exchange rate here in Thailand than you will in UK, so when Transferring in I stipulate they send pounds sterling and let the conversion happen here in Thailand. I also do the same when sending back to UK, in that I requested a given amount of sterling and let them do the conversion from Baht here.

 

cerberus

[w3bmast3r 0]

Thanks Cerberus - who do you bank with?

 

And anyone got any recomendations who I can talk to about Tax etc?

[Gary 4,119]

I use Siam Commercial Bank. The last time I sent money to the USA looked like it was going to be a major hassle so I had my Thai bank make out a bank check to my US bank in US dollars. I then wrote on the back of that check "For deposit only to (my name) my US account". I mailed it Thai EMS and my US bank had it within a few days.

[Cerberus 97]

w3bmast3r

who do you bank with?

 

The two banks I have used for transfers out have been Bangkok Bank, easy , and the Siam Commercial Bank, I filled in a form saying the funds being transfered were for family reasons, no problem.

 

Cerberus

[4niceight 32]

Last September I walked into Siam Commercial Bank and gave them 50,000 baht in cash and asked them to send it by SWIFT to Nationwide in UK. The money was in my UK account the same day. There was a small fee. Can't remember how much. They did ask me where I got the money, but I just said I had been here several months and had changed a lot of sterling into baht.

[w3bmast3r 0]

Excellent info guys

 

Can someone tell me the best branch of Bangkok bank to open an account with in Pattaya - and I guess I will still be able to do all the account servicing of the account from a branch in Bangkok?

 

Dan

[Cerberus 97]

I used the one opposite Soi 6/1 on second road, just because it was convenient, (I could get parked ). But they are all the same, and yes you can service them from any other branch.