What are the best banks and methods for online money transfers to Thailand as an expat?

Jul 19, 2023
a year ago
Hathaway *************
ORIGINAL POSTER
I just found out that my UK bank (Co-op) only facilitates foreign money transfers by telephone, so possibly time to move my accounts, any expats recommend any particular banks for online transfers? I use Wise for small amounts but I'm thinking of the 800k and monthly 65k, can I use Wise for those?
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TLDR : Answer Summary
An expat in Thailand is seeking recommendations for banks that facilitate online money transfers, specifically for large amounts like 800K and 65K monthly. They currently use Wise for smaller transfers and are inquiring about its suitability for larger sums. Various community members recommend banks such as HSBC, Nationwide, and Natwest for their international transfer features, noting Wise as an effective and cost-efficient option. Specific experiences highlight the ease of using Wise and its fast transfer times to Thai banks.
Steve **********
It's old age !
Eno ***********
One of the requirements for immigration department is, to show proof of the funds comming from overseas. Wise autoconvert the funds but still show the annount of Dollar used.
Onne ***********
send in bath cheaper
Eno ***********
I just did the 800 k transfer from wise to bangkok bank 2 days ago. Went in within 4 hours. Paid 141 usd in fees.
Sean **********
Use Wise, I just did the 800k transfer in March. Worked fine
Andrew ******
You just need a uk address and uk number, relatives house and borrow their number for the otp one time password to get set up. I’ve just opened 2 uk accounts from Thailand to take advantage of the switch bribe banks do.

You just don’t put your Thai phone number on when filling out the info online.

You can use any uk bank through wise, you open up a wise account from the uk if your not there, by the same principle, with a registered address from a relative to say that’s where you live. Make a small transfer to check it works into your Thai bank then it’s done.
Andrew ******
If you use your bank to transfer money to Thailand, you lose a massive amount as the bank exchange rate is so low. Go through wise to transfer, the charge is more but works out saving hundreds on a large amount like 800 000 Thai baht.
Keith ********
Take a look at Revolut. You can hold balances in different currencies, get a debit card, exchange currencies at a rate better than Wise, hold money in vaults - currently paying 3.44% AER calculated daily. You can also buy crypto and precious metals, should you wish. Direct debits can be arranged. Worth checking out. Works for me.
Johnny **********
Do you mean Smile at the Co op by any chance ? The "internet" bank that has become more like telephone banking and a real pain to do anything beyond simple stuff with.
Ally ************
Natwest facilitates international transfers to Thailand.. benefits are you can arrange them using your internet banking when you are overseas.. and there is zero charge if you opt for the standard 3 business day processing.. eg. transfer instructed on Monday before 3pm UK time and money reaches your Thai Bank account on Thursday at latest.. or sometimes even Wednesday.. the only drawback is that the online system limits you to a maximum transfer of GBP £10,000 per instruction.. so if you're moving a higher sum than that you need to stagger it over separate days.. unless you are still in the UK and go into a branch to give the instruction in person.. I'm not sure but there may be a way to circumvent this limit if you talk to the bank before leaving the country.. otherwise you are stuck with it I'm afraid.. but it's a minor compromise imo given it's otherwise a free service.. though bear in mind the receiving bank in Thailand will almost certainly levy a processing fee.. eg. Bangkok bank charge a minimum 200bht and a maximum of 500bht.. but still relatively cheap compared to some fx services.. and the exchange rates are also very reasonable viz-a-viz alternatives.. which tend to bury 'hidden costs' in the exchange rate to avoid disclosure.. so simple, accessible, cost-effective, and reliable imo.. hope this info is helpful to you my friend
Gary **********
@Ally ***********
, this is very interesting to me for the future. Is there a preferred Thai bank for these transfers ? I haven't open Thai account yet but was wondering if any particular was better. TIA. Gary
Ally ************
@Gary *********
Well I'm based in CM and have recently had to jump through the hoops to get my non-o visa based on marriage.. so needed a bank account to season my funds.. i discovered that Bangkok bank was the only bank that would open an account for me.. every other bank said they were not opening accounts for foreigners any more.. unless you already held a long term visa that is.. and even then Bkk bank demanded a letter from immigration confirming my residence (address) in Thailand and a copy of the marriage certificate, tm30, amphur registration, and my yellow book.. the latter only because i mentioned i had one.. if you're applying for marriage based visa then would advise you to focus on getting a yellow book.. it's basically a tabiaan baan for a foreigner living with Thai wife.. since this has unlocked many doors for me and made dealing with any Thai authority a million times easier.. such as applying for a driving license and a Thai ID card.. sometimes referred to as your pink ID.. and it will also smooth any future applications to immigration.. hope that's useful
Hathaway *************
ORIGINAL POSTER
@Gary *********
I will be opening my Thai a/c in October (I hope) I get the impression that Bangkok Bank gives the best expat service, though I am sure there will be varied experiences.
Marco *********
Natwest
Phil ********
Yes use Wise.
Hathaway *************
ORIGINAL POSTER
@Phil *******
that's terrific, thanks.
Gary **********
I transfer from my uk banks to wise then wise to thailand had trouble with santander blocking my account so now have payments go straight into wise
John *********
HSBC was cheapest I could find last year for my 800k.
Merv *******
I use Nationwide but they don't do foreign bank transfer so will arrange for both pensions to transfer to Bangkok Bank branch direct .Payment are separate days of each month.
Tony *********
@Merv ******
Nationwide does SWIFT foreign transfers like any other bank. I've been with them for years.
Merv *******
@Tony ********
Thanks ,Tony .I went to my nearest Nationwide branch on Monday and was told they couldn't do a monthly transfer when I get back to Thailand .I have works pension and form for it to transferred direct in due course and needed to keep state pension in Nationwide to pay a small continuing direct debit and get balance transferred.
Tony *********
@Merv ******
with no bank charges from Nationwide.
Tony *********
@Merv ******
you can transfer money from Nationwide to Wise on your phone using the Wise app and the Nationwide app together. It transfers the money in about one second. Then it takes about another 2 seconds to transfer the money from Wise to your Thai bank account.
Merv *******
@Tony ********
Thanks,will have to set the Wise app as I see a lot of people give good comments on it .
Tony *********
@Merv ******
you can open the Wise account online. They only require a scan of your passport.
Phil ******
@Merv ******
who do you use?
Merv *******
@Phil *****
Thanks ,Phil .my reply to Tony Daniels refers .
Phil ******
@Hathaway ************
tell us your bank please
Hathaway *************
ORIGINAL POSTER
Phil ******
Hathaway *************
ORIGINAL POSTER
@Phil *****
no UK, I'm asking about best UK bank to make convenient transfers to Thailand.
Phil ******
@Hathaway ************
stick with wise as fastest cheapest and best. BUT, SOME THAI BANKS don't accept larger transfers....thought you were talking about this sorry
Kim *********
@Phil *****
all Thai banks except SCB kasikorn and Bangkok bank only accepts 49.999 baht - and those 3 banks now require a photo taken by the bank if you want to deposit more than 49.999 baht
Hathaway *************
ORIGINAL POSTER
@Kim ********
just to be clear SCB Kasikorn and Bangkok DO accept large transfers?
Phil ******
@Kim ********
yep I know....thats why I asked the question
Mike *******
I face the same predicament next year, Santander no good for me in Thailand, I will probably go HSBC and use wise for transfers
Peter *******
@Mike ******
For Santander get a UK sim from giffgaff, they send to Thailand, top up £10 and sms or call every 6 months
Mike *******
@Peter ******
cheers for that, funnily enough you're the second person to suggest giff gaff
Hathaway *************
ORIGINAL POSTER
@Mike ******
if Wise can make the transfers I need I see no reason to give myself headache by moving banks.
Mike *******
@Hathaway ************
Might be worth checking if you ever need a One Time Passcode and co op won't do international calls.

For me Santander require a Uk phone number, which I won't have.....and I figure an international bank will be much more efficient than a building society based in europe...
Martin ********
@Mike ******
Santander are closing people's accounts left right and centre if you are not living full time in UK. They shafted me after 43 years of banking with them.
Keith ********
@Martin *******
yep they did the same to me.
James **********
@Martin *******
Can I ask were you registered at a UK address or Thai? Thanks
Martin ********
@James *********
UK address, I have both Thai and UK
Hathaway *************
ORIGINAL POSTER
@Mike ******
Good point, I'm wondering if HSBC might be a good bet.
Mike *******
@Hathaway ************
I hope to make the change as my pension arrives and salary stops, otherwise as you say, a headache to change but the bank should take care of your direct debits and such
Peter *******
Wise ok for those as long as you and Wise process correctly, send a small test amount first to ensure its "international"
Hathaway *************
ORIGINAL POSTER
@Peter ******
Thanks Peter, I have previously sent amounts up to £1200 to Thailand so do you think I can assume £
*****
(maybe broken down to 3 x 6000) will be ok?
Peter *******
@Hathaway ************
firstly is your bank Bangkok Bank? there is a slight risk, I've read 3 reports that sometimes even though you select the correct reason for transfer it settles as a domestic transfer which is a problem for the 65k a month and 800k for non imm O visa
Hathaway *************
ORIGINAL POSTER
@Peter ******
I do not yet have a Thai a/c, I will be sorting that out in October, if I can open an a/c and transfer 800k i will be happy fella
Peter *******
@Hathaway ************
ok, if you use Wise and need transfers to show as International then you'll need Bangkok Bank
Graham ******
@Peter ******
The limit of 50,000 Baht in international transfers is ONLY for people who use WISE to transfer the money and ONLY for people using a bank OTHER THAN Bangkok Bank, Siam Commercial Bank or Kasikorn Bank.
Peter *******
@Graham *****
no one's asking about 50k limit, you're answering a different question
Graham ******
@Peter ******
I'm showing that it doesn't need to be just Bangkok Bank, any of the three are suitable especially when the transfer needs to be >50k which is what the OP will require if going down the 800k or 65k/month routes
Peter *******
@Graham *****
not quite, he needs the Wise transfer to show as International, Bangkok Bank is the only one that shows it hence the reason for transfer
Graham ******
@Peter ******
So you're saying that everyone that needs to show an international funds receipt i.e. those on the 800k and 65k/month methods ALL bank with Bangkok Bank. I think not.
Peter *******
@Graham *****
no that's not what i said
Graham ******
@Peter ******
"he needs the Wise transfer to show as International, Bangkok Bank is the only one that shows it"
Peter *******
@Graham *****
yeah others don't

show "International" on the statement, maybe read up on the subject before you post
Graham ******
@Peter ******
So, I'll repeat, you're saying that everyone that needs to show an international funds receipt i.e. those on the 800k and 65k/month methods ALL bank with Bangkok Bank.
Graham ******
@Hathaway ************
on the reason for transfer use the drop down menu and at the bottom choose long time stay in Thailand
Hathaway *************
ORIGINAL POSTER
@Graham *****
Will do, thankyou.
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