Monet Transfer to Thailand

[Tel 0]

This is a basic question. But I am not in Thailand and my Thai wife is told something strange by our bank.

 

I think the bank thinks I want to keep the money as UK pounds in Thailand That is not what I want to do.

 

If I sent money from UK to Thailand in UK pounds direct to my THai bank account (Bangkok Bank) will they just convert to Baht at the THailand rate and put in my account.

 

Or do I have to do special arrangements with the Thai bank for the conversion to Baht.

 

At the moment I convert to Baht in the UK and send Baht. This is, I believe, losing me money. The UK conversion rate is a lot worse than the rate in Thailand.

 

Does anyone do as I ask. That is, there is no special arrangements needed for the UK pounds to go into my account.

[Anfield 8]

I send money out in Stirling and it is converted to Baht when it arrives

at Kasikorn bank they take a few baht commission and I thank Halifax

charged either £15.00 or £17.50 when I transferred some in October.

 

Had aready got the swift code etc and checked it was ok to send in stirling

when i was in Thailand

Edited January 31, 2008 by Anfield

[jacko 8,699]

This is a basic question. But I am not in Thailand and my Thai wife is told something strange by our bank.

 

I think the bank thinks I want to keep the money as UK pounds in Thailand That is not what I want to do.

 

If I sent money from UK to Thailand in UK pounds direct to my THai bank account (Bangkok Bank) will they just convert to Baht at the THailand rate and put in my account.

 

Or do I have to do special arrangements with the Thai bank for the conversion to Baht.

 

At the moment I convert to Baht in the UK and send Baht. This is, I believe, losing me money. The UK conversion rate is a lot worse than the rate in Thailand.

 

Does anyone do as I ask. That is, there is no special arrangements needed for the UK pounds to go into my account.

Converting to baht in the UK is madness! I do as you ask, also with the Bangkok bank, and the money is converted to Thai baht, in Thailand, at a very good rate (65.2 on Tuesday). If the account you are sending to (which must be specified) is indeed a Thai baht account, then it will be converted to Thai baht at the TT (Telex transfer) rate by Bangkok bank. No special arrangements. Edited February 1, 2008 by jacko

[MC_Ldop 40]

I would not transfer a Monet to Thailand. The humidity can't be good for the painting.

[Tel 0]

Thanks for the replies.

 

Also for the advice on the painting - that well know typo.

[packhike 13]

I wire money here in the States to Bangkok Bank in U.S. dollars once it

hits Bangkok Bank they convert it into Baht. No charge from Bangkok Bank

or my bank here in the states. Make sure you send it in your home currency

or your going to get ripped off big time if they convert it first in your home country

[CheshireTom 1,377]

Normally the UK bank gives you two choices ..... transfer an amount in Baht (converted by the despatching bank at UK rates) or transfer an amount in sterling (converted by the receiving bank at Thai rates).

[Zidane 11]

Definitely transfer it from the UK in Sterling and have it converted to Baht over here.

The pound is slipping against the baht,at the moment,but you would still get about 63 baht to the GBP.

If you had it converted to Baht in the UK,though,you would get a ridiculous conversion rate of about 56.

So thats quite a loss to take....ie.for 100 quid you would only get 5600 baht as opposed to 6300.

 

Zidane