Answered2 years ago
What are the tips for transferring money from the UK to Thailand with a Barclays Premier account?
Just a head up for people with a Barclays Premier account in the UK.
Transfers are free from these accounts to a Thai Bank account.
Before you start
To complete an international payment you’ll need:
a PINsentry device
the IBAN or SWIFTBIC number of the bank you’re paying intoThey will
let you know how long the payment will take and if there are any charges before you confirm.
Today’s exchange rate is 42.93 GBP to the Baht
I know this doesn’t suit everyone but it’s for information purposes only
Also if you are trying to transfer 800k baht in from wise you can only do this in 50k baht increments so it’s a. Minimum of 16 transactions at approximately £8 for each one.
I’ll let everyone do the maths on this one
Transfers are free from these accounts to a Thai Bank account.
Before you start
To complete an international payment you’ll need:
a PINsentry device
the IBAN or SWIFTBIC number of the bank you’re paying intoThey will
let you know how long the payment will take and if there are any charges before you confirm.
Today’s exchange rate is 42.93 GBP to the Baht
I know this doesn’t suit everyone but it’s for information purposes only
Also if you are trying to transfer 800k baht in from wise you can only do this in 50k baht increments so it’s a. Minimum of 16 transactions at approximately £8 for each one.
I’ll let everyone do the maths on this one
Answer summary
This post informs users that Barclays Premier accounts in the UK offer free transfers to Thai bank accounts, requiring a PINsentry device and the recipient's IBAN or SWIFTBIC number. The exchange rate is noted as 42.93 GBP to THB. Comments discuss the potential downsides regarding exchange rates and limits on other transfer services like Wise, which may offer better rates despite fees.
35 repliesnewest first
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Jeff *******
Thats interesting,a few weeks back I actually asked them for a quote for a large amount, they gave me a figure, they definitely didn't say it was free. Though I'll look again, cheers for the heads up
Andy ********
Thanks, i didn't realise barclays offered this, I'll take a look and do some sums
Lester *********
OP@Andy *******
I don’t think it’s that favourable Andy. Believe it or not the non fee charging Revolut Ultra at £600 a year is the best because there is no charges for international transfers and the exchange rate is as good as anyone’s but only if you are a frequent flyer because you get free lounge access, free international data, air miles, travel insurance and £4k worth of subscriptions like Nord VPN, Financial Times and Tinder Gold lol. I’m considering it because of the amount of travelling I do
Phil ******
Fred *********
Current fees for
*****
0 with wise is £107Lester *********
OP@Fred ********
is that a single transfer fee Fred for transferring 800k in one goMartyn ***********
@Lester ********
You still don't get it? You should be comparing the total cost of 800k baht, not just fee's.. The higher rate of exchange still makes wise the cheaper option..Martyn ***********
@Lester ********
re read and still very relevant... Also note, some banks in Thailand charge to except Iban and swift international transfers making the 'free' option even less desirable.Lester *********
OP@Martyn **********
Top comment that Martyn. Read the post again. Make a relevant comment or just chill out mateFred *********
@Lester ********
Yes
Steven ******
@Lester ********
me too, I fly monthly for work and so far I've had no issues getting into lounges. Apparently the UK airports are a bit funny with the lounge pass but ive been in Bangkok, Dubai, Istanbul and Amsterdam without issue.Lester *********
OP@Steven *****
Thanks mate. It does seem to have a lot of benefits attached. I’m a frequent flyer so the lounge access is always goodSteven ******
@Lester ********
I have a revolut ultra account and it has other benefits not just the rates and fee free transfers with access to the full suite of NordVPN and other Nord services. If you do end up going that route though be careful with the Ultra card, it's ever so slightly thicker than the average ATM card and i know a few people who have had the card get stuck in the ATMs in Thailand.Lester *********
OP@Fred ********
I couldn’t agree more but my inquisitive nature means I can’t help myself and finding out what options are out thereFred *********
@Lester ********
My account with Bangkok bank so can send large amounts. But really in the grand scheme what difference does 50 quid make.
There is lots of different ways of sending, I'll not be paying £600 to have any account.
I'm paying into mine a little at a time, and in the long run it's more expensive. But I don't care, the money I send is for when I move over. And when that time comes I'll not be wasting any time worrying about £50 here and there.
I'll be enjoying myself.
That's what I recommend you do as well mate.
Lester *********
OP@Fred ********
Cheers mate. My account is with Krungthai bank and can only send 50k baht at a time. It works out at about £160 doing it that way but it appears from the responses and people with genuine interest in the post that Wise does seem to be the cheapest. However, if you have a Revolute Ultra account then there are no fees at all and the exchange rate is as good as Wise. However it costs approximately £600 a year to have that type of account
Peter *******
If you'd sent GBP maybe the Thai bank would have been a better rate. Another problem with Barclays is they will close your account if you have a Thai address
Jeff *******
@Peter ******
Why would you provide a thai address? It's just a transferPeter *******
@Jeff ******
UK Banks hold an address, maybe not for you?
Gary ********
@Peter ******
yes it happened to me. Caused me no end of agroMartyn ***********
@Peter ******
less than 0.20 baht more from Bangkok Bank.Martyn ***********
That's why it's free, they're doing you with the rate... Wise is over 44 right now.
Lester *********
OP@Martyn **********
What’s the difference in cost though. Ones free with a lower rate and the other you have to do 16 x £8 with a better rate?
Jesper *******
I did the 800k transfers with WISE in 3 transactions with better rate than my local bank swift transfers which offer zero fees but lousy rate....in the end I get 15k/baht extra after paying fees with WISE
Martyn ***********
@Lester ********
Your a 1000 baht worse off for every £1000 sent..about £23.50. Fee is about £7, but way more is made up with the extra rate. So it you'd be about £375 better off when sending 800k baht.Martyn ***********
@Graham *****
Bangkok bank is 43.2 today, still a significant amount down.
Graham ******
@Martyn **********
With a bank transfer there is the possibility of the receiving bank applying a fee on receipt tooActivity
11 joined11
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