rocky123 Posted November 22, 2020 Share Posted November 22, 2020 I have a bank account in UK (barclays) and an SCB account here. I need to transfer money from UK to Thailand. Is it straightforward bank to bank ?, and are there charges +. I used to go back, withdraw cash and bring back here to exchange. Thanks guys. 1 Link to comment Share on other sites More sharing options...
Kwasaki Posted November 22, 2020 Share Posted November 22, 2020 I go into any high street Thai bank SCB is the best where I live and just draw cash on with my UK bank debit card and my passport. 1 Link to comment Share on other sites More sharing options...
Popular Post Eindhoven Posted November 22, 2020 Popular Post Share Posted November 22, 2020 3 minutes ago, Kwasaki said: I go into any high street Thai bank SCB is the best where I live and just draw cash on with my UK bank debit card and my passport. Terrible advice. SCB is one of the worst....and your debit card will levy separate charges in addition to the SCB charges. What is worse is that I am sure that you have been advised of much better ways in the past. 5 Link to comment Share on other sites More sharing options...
Eindhoven Posted November 22, 2020 Share Posted November 22, 2020 You'll need to check what Barclays will charge you to send Pounds not Baht. They say free via Online Banking etc, but I am not sure if that is the case when sending Pounds. SCB will have a separate receiving charge. Otherwise: https://transferwise.com 2 1 Link to comment Share on other sites More sharing options...
Kwasaki Posted November 22, 2020 Share Posted November 22, 2020 9 minutes ago, Eindhoven said: Terrible advice. SCB is one of the worst....and your debit card will levy separate charges in addition to the SCB charges. What is worse is that I am sure that you have been advised of much better ways in the past. I don't see it that way for small amounts my UK bank only charges a small fee and SCB charges 180 baht. If I had a large amount to send from UK to my Thai Bank I just ring my UK bank and tell em to send it. 2 Link to comment Share on other sites More sharing options...
Popular Post Eindhoven Posted November 22, 2020 Popular Post Share Posted November 22, 2020 1 minute ago, Kwasaki said: I don't see it that way for small amounts my UK bank only charges a small fee and SCB charges 180 baht. If I had a large amount to send from UK to my Thai Bank I just ring my UK bank and tell em to send it. Of course you don't see it that way; that is why you do it. But it's not intelligent. I know that I already explained this to you in detail...and thought that you got it. Worse is that you are advocating that others should follow you. I don't believe that your bank only charges a small amount. The likelihood is that it charges between 3% & 5%. So withdraw the equivalent of £300 and that is £9 to £15 already. Add the £4.50 charge from SCB and that is £13.50 to £19.50 on a £300 withdrawal. Small amount? 3 Link to comment Share on other sites More sharing options...
Popular Post Dmaxdan Posted November 22, 2020 Popular Post Share Posted November 22, 2020 I think the best advice is to use Transfer wise. Easy to set up, cheap and the transactions literally take seconds. There are many threads about it on TV. 9 Link to comment Share on other sites More sharing options...
Popular Post JAS21 Posted November 22, 2020 Popular Post Share Posted November 22, 2020 Just now, Dmaxdan said: I think the best advice is to use Transfer wise. Easy to set up, cheap and the transactions literally take seconds. There are many threads about it on TV. The above is very good advice ... you will get a better overall rate, using TransferWise, when sending money from the UK to a Thailand bank than by any other way .... 3 1 Link to comment Share on other sites More sharing options...
Eindhoven Posted November 22, 2020 Share Posted November 22, 2020 Barclays claim it's free to send in Pounds via online banking: https://www.barclays.co.uk/ways-to-bank/international-payments/s-t/ I'm sceptical(expecting a correspondent bank to appear along the line that inflates the cost; but I am cynical) You can do a test run via online banking to see how it goes. SCB receiving fees are likely around 0.25%, capped at 500 baht, as that is the norm. Link to comment Share on other sites More sharing options...
Popular Post Eindhoven Posted November 22, 2020 Popular Post Share Posted November 22, 2020 1 minute ago, JAS21 said: The above is very good advice ... you will get a better overall rate, using TransferWise, when sending money from the UK to a Thailand bank than by any other way .... It wasn't good advice when I posted it? ???? 3 Link to comment Share on other sites More sharing options...
Chivas Posted November 22, 2020 Share Posted November 22, 2020 (edited) 10 minutes ago, JAS21 said: The above is very good advice ... you will get a better overall rate, using TransferWise, when sending money from the UK to a Thailand bank than by any other way .... You wont get a "better overall rate" you'll get interbank and there is no higher rate.... Unless Transferwise have slowed down the transfer it normally takes about 10 seconds from my UK bank to SCB if done on weekdays Edited November 22, 2020 by Chivas Link to comment Share on other sites More sharing options...
Chivas Posted November 22, 2020 Share Posted November 22, 2020 41 minutes ago, Eindhoven said: Terrible advice. SCB is one of the worst....and your debit card will levy separate charges in addition to the SCB charges. What is worse is that I am sure that you have been advised of much better ways in the past. Well no thats not right either lol The fact its SCB wont make any difference because the rate will be Visa/Mastercard. Whatever their posted SCB exchange rates are will be irrelevant if using a debit or credit card Link to comment Share on other sites More sharing options...
JAS21 Posted November 22, 2020 Share Posted November 22, 2020 You wont get a better overall rate you'll get interbank and there is no higher rate.... What was intended, and I thought it was clear, by that statement was ... you will get more THB transferred into your Thai Bank for whatever amount of GBP you wish to transfer than using any other method Link to comment Share on other sites More sharing options...
Eindhoven Posted November 22, 2020 Share Posted November 22, 2020 1 minute ago, Chivas said: Well no thats not right either lol The fact its SCB wont make any difference because the rate will be Visa/Mastercard. Whatever their posted SCB exchange rates are will be irrelevant if using a debit or credit card So far, you've been wrong on both of your posts. If you go back to the OP's post, you'll note that he withdraws over the counter; being charged 180 baht for the privilege. Only SCB levies that Admin Charge. Link to comment Share on other sites More sharing options...
Eindhoven Posted November 22, 2020 Share Posted November 22, 2020 8 minutes ago, Chivas said: You wont get a "better overall rate" you'll get interbank and there is no higher rate.... Unless Transferwise have slowed down the transfer it normally takes about 10 seconds from my UK bank to SCB if done on weekdays Wrong here too. You don't get 'interbank/spot rate', as Transferwise levies a fee. 'Overall' was and is correct. 2 Link to comment Share on other sites More sharing options...
Stocky Posted November 22, 2020 Share Posted November 22, 2020 24 minutes ago, Dmaxdan said: I think the best advice is to use Transfer wise. Easy to set up, cheap and the transactions literally take seconds. There are many threads about it on TV. +1 TransferWise is your best option. 1 Link to comment Share on other sites More sharing options...
potless Posted November 22, 2020 Share Posted November 22, 2020 (edited) 57 minutes ago, Eindhoven said: You'll need to check what Barclays will charge you to send Pounds not Baht. They say free via Online Banking etc, but I am not sure if that is the case when sending Pounds. SCB will have a separate receiving charge. I can confirm that Barclays do not charge a fee if sending pounds to a F.C.D account via online banking. You will also be offered the option to pay the receiving banks fee at the same time. Costs 8 pounds. Be sure to select Sterling as the currency to be sent . Edited November 22, 2020 by potless 1 Link to comment Share on other sites More sharing options...
Eindhoven Posted November 22, 2020 Share Posted November 22, 2020 8 minutes ago, potless said: I can confirm that Barclays do not charge a fee if sending pounds to a F.C.D account via online banking. You will also be offered the option to pay the receiving banks fee at the same time. Costs 8 pounds. Be sure to select Sterling as the currency to be sent . If this is the case, wouldn't that make it cheaper than Transferwise in some cases; since theoretically the only fee would be the SCB receiving fee of 300 to 500 baht? For instance, sending £3000 with a 500 baht(£12.43) receiving fee. Transferwise charge £16.06. Link to comment Share on other sites More sharing options...
Kwasaki Posted November 22, 2020 Share Posted November 22, 2020 47 minutes ago, Eindhoven said: Small amounts ? For my convieniance and a few times a year when necessary yes, small.. I use my credit card here as a way of getting UK money mainly. My UK pension is paid direct to my Thai Bank. I was going to try transferwise once but there was a cap on how much maybe they have changed now. 1 Link to comment Share on other sites More sharing options...
Eindhoven Posted November 22, 2020 Share Posted November 22, 2020 1 minute ago, Kwasaki said: For my convieniance and a few times a year when necessary yes, small.. I use my credit card here as a way of getting UK money mainly. My UK pension is paid direct to my Thai Bank. I was going to try transferwise once but there was a cap on how much maybe they have changed now. It might be ok for 'your convenience', but it's not a good option for the OP. If you use your credit card mainly..., then why are you using your debit card?? All very confusing. 1 Link to comment Share on other sites More sharing options...
JAS21 Posted November 22, 2020 Share Posted November 22, 2020 8 minutes ago, Kwasaki said: For my convieniance and a few times a year when necessary yes, small.. I use my credit card here as a way of getting UK money mainly. My UK pension is paid direct to my Thai Bank. I was going to try transferwise once but there was a cap on how much maybe they have changed now. Interesting ... using a CC to get money ... an expensive way me thinks... I have moved GBP £9,999, several times. I found that if I went to £10,000+ my bank locked my account..... Link to comment Share on other sites More sharing options...
potless Posted November 22, 2020 Share Posted November 22, 2020 4 minutes ago, Eindhoven said: 19 minutes ago, potless said: I can confirm that Barclays do not charge a fee if sending pounds to a F.C.D account via online banking. You will also be offered the option to pay the receiving banks fee at the same time. Costs 8 pounds. Be sure to select Sterling as the currency to be sent . If this is the case, wouldn't that make it cheaper than Transferwise in some cases; since theoretically the only fee would be the SCB receiving fee of 300 to 500 baht? For instance, sending £3000 with a 500 baht(£12.43) receiving fee. Transferwise charge £16.06. I hadnt considered that people may use Transferwise to send Sterling to a Sterling FCD account here. In the example you give then yes. I havent used Transferwise as I prefer to send Sterling and change it when I want to. Link to comment Share on other sites More sharing options...
Eindhoven Posted November 22, 2020 Share Posted November 22, 2020 Just now, potless said: I hadnt considered that people may use Transferwise to send Sterling to a Sterling FCD account here. In the example you give then yes. I havent used Transferwise as I prefer to send Sterling and change it when I want to. Aaaahhh...you are referring to Sterling to Sterling. We are discussing Sterling to THB, I guess. Link to comment Share on other sites More sharing options...
Eindhoven Posted November 22, 2020 Share Posted November 22, 2020 5 minutes ago, JAS21 said: Interesting ... using a CC to get money ... an expensive way me thinks... I have moved GBP £9,999, several times. I found that if I went to £10,000+ my bank locked my account..... Actually no, it's one of the best ways, if you have the right card. Full Mastercard/VISA rate with no withdrawal charges. Link to comment Share on other sites More sharing options...
Tyler Visan Posted November 22, 2020 Share Posted November 22, 2020 8 minutes ago, potless said: I hadnt considered that people may use Transferwise to send Sterling to a Sterling FCD account here. In the example you give then yes. I havent used Transferwise as I prefer to send Sterling and change it when I want to. Transferwise will NOT do GBP to GBP, they are an exchange company. Get your GBP into a Transferwise Borderless account and exchange to THB when the rate is good but keep it in your T'wise Account, and send it to Thailand as & when you need it. 1 Link to comment Share on other sites More sharing options...
kidneyw Posted November 22, 2020 Share Posted November 22, 2020 TransferWise 1 Link to comment Share on other sites More sharing options...
Kwasaki Posted November 22, 2020 Share Posted November 22, 2020 (edited) 21 minutes ago, Eindhoven said: It might be ok for 'your convenience', but it's not a good option for the OP. If you use your credit card mainly..., then why are you using your debit card?? All very confusing. Debit cards need the money in the bank. Look you advice to other is OK but of no use to me. Edited November 22, 2020 by Kwasaki 1 Link to comment Share on other sites More sharing options...
Kwasaki Posted November 22, 2020 Share Posted November 22, 2020 20 minutes ago, JAS21 said: Interesting ... using a CC to get money ... an expensive way me thinks... I have moved GBP £9,999, several times. I found that if I went to £10,000+ my bank locked my account..... Yeah different ways different banks and some banks are different and some people like to do things different or the way that's different from other people. I'm happy with my Thai living money situation which is probably different than others. ???? ???? ???? ???? Link to comment Share on other sites More sharing options...
Eindhoven Posted November 22, 2020 Share Posted November 22, 2020 6 minutes ago, Kwasaki said: Debit cards need the money in the bank. Look you advice to other is OK but of no use to me. My advice is for the other. ???? You can do whatever you want with your money. It's what you want others to do that is of concern. 1 1 Link to comment Share on other sites More sharing options...
RichardColeman Posted November 22, 2020 Share Posted November 22, 2020 1 hour ago, rocky123 said: I have a bank account in UK (barclays) and an SCB account here. I need to transfer money from UK to Thailand. Is it straightforward bank to bank ?, and are there charges +. I used to go back, withdraw cash and bring back here to exchange. Thanks guys. I send bank to bank every month - Lloyds to Bangkok Bank, I generally lose £9.50 for sending , 1.50 baht off the general exchange rate (yeah, I know I'll amend it to transferwise one day) and about 200 baht dissappears into the thai bank wilderness ! Hope that helps with general figures Link to comment Share on other sites More sharing options...
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