What is the best way to send money from the UK to Thailand: in Baht or Pounds Sterling?

November 6, 2023
a year ago
Colin ******
ORIGINAL POSTER
Hi all I want to send money from my UK bank to my bank in Thailand just wondering if anyone could advice.is it best to send in baht or pounds sterling my bank charges a fee plus I get a lower exchange rate when its sent to thai bank appreciate any help thanks in advance
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TLDR : Answer Summary
The post discusses the best options for sending money from the UK to Thailand, specifically whether to send money in Baht or Pounds Sterling. Community members overwhelmingly recommend using Wise due to its low fees and favorable exchange rates. Several users share experiences with Wise and HSBC, noting the ability to send larger amounts without high fees through certain Thai banks. Additionally, they mention keeping an eye on exchange rates and suggest that sending in Pounds and converting to Baht in Thailand usually yields a better rate. Other methods like XE and Instarem are also mentioned as alternatives.
Fra *****
What ever works for you
Vinay ********
I use Wise for all transactions in Thailand. Best rates and I watch the daily rate to try to get good rates and build up, sometimes the rates are poor so even it out
Toci *******
I used xe.com since many years. Best exchange rate in real time and very low bank fees.
Colin ******
ORIGINAL POSTER
Thank you! 😊
William *******
If you pay with wise debit card 💳 there in 30 secs
Elisa *******
Wise
Ant ******
Try to open an FCD account in Thailand you'll get the tt rate plus you can choose when to convert
Steve *******
Send in Sterling, convert in Thailand
David *******
Always send in £. Your bank will default to baht so make sure you change it. You’ll get a much better rate if the Thai bank changes the currency. There will be a fee but it isn’t very high.
Colin ******
ORIGINAL POSTER
Every one for your time so helpful
Nick *******
Forget Wise, Instarem is the best, No Fee, Best Exch Rate, Funds deposited straight away. From Uk anyway.
Norbert **********
@Nick ******
what is the exchange rate now ?
Nick *******
@Norbert *********
43.93

UK - THB
Norbert **********
@Nick ******
Revolut
Stevan ***********
Only use wise good exchange rates and

Good speed
Colin ***********
Wise App and you will benefit from an easy and cheap exchange .
Mark **********
Definitely recommend Wise. Used it for the last 2 months and no issues. Up to date exchange rates, low fees but does take until 2pm following day with Bangkok bank to arrive in Thai account.
Kev ********
If I send £1000 with Wise to my Thai bank account it cost about £6 do the maths go with Wise and it’s in my bank in seconds 👍
Gail *********
Yes I send in pounds x
Gail *********
I use Wise app from my Lloyds bank in the uk they give me 43.7 bahts to the pound and the fees are much cheaper and get into my Bangkok bank in seconds trouble with my bank in the uk it takes days to to get here but with wise seconds x
Dan ********
Wise is definitely the best option
Derek ************
Send in pounds the wise app tells you all fees and how much THB will land in your account before press the send button
Craig ********
wise and xe are both good.
Neil ********
I use Wise for all money transfers and then send to my Thai account as when I withdraw I avoid the 200 baht fee each time. All happens in minutes
Jamie ******
Send it in pounds
Bob *******
@Jamie *****
then when it arrives it’s converted to Baht at a poorer exchange rate than Wise offered.
Jamie ******
@Bob ******
can you show examples ,,thanks..do you always have gbp in your wise account ,ot you just transfer on the day into wise ,,then Thailand
Bob *******
@Jamie *****
no examples that I wish to share but experienced the charges.

I just pay Wise when I need to transfer. Either by card or bank transfer.
Colin ******
ORIGINAL POSTER
Thank you for the information
Linz ************
Colin, as per the other advice, seriously seriously seriously look at Wise

We recently arrived in Thailand from the UK, our high street bank (low fees/ reasonable exchange rate) was costing us (or the person you are sending the money too) between £25-£30 for each transfer (that being the fee for doing it and the loss due to a not so competitive currency conversion

It is wise to use Wise

Might take a little time for you to work it out but once done, it really is a no-brainer
Brian ***********
Use transfer wise
Dave *********
Do bear in mind that Bangkok Bank, Kasikorn and SCB are the only Thai banks which can accept transfers up to and over Bt50k per transaction via Wise.
Ian *******
@Dave ********
XE has no transfer maximum or minimum, and no transfer fees, maybe even a lower rate than Wise but not 100% sure on that
Dave *********
@Ian ******
I didn't mention XE just Wise as an addition to other previous posts. XE might not have limits on what you can send but some UK banks have set daily maximum limits on your transfers.
Malcolm *******
@Dave ********
UOB also accepts transfers over 50 k
Hakim ************
@Malcolm ******
not via wise.
Malcolm *******
@Hakim ***********
wanna bet lol 😆
Hakim ************
@Malcolm ******
certainly didn’t work on mine?
Malcolm *******
@Hakim ***********
Tbh I've not tried for a couple of years , so maybe it's changed now ffs .
Hakim ************
@Malcolm ******
yes it did change over 1 year ago.
Tim *********
I opened a current account with HSBC. You can also open a Global Account. The global account allows you to use the card and/or send money abroad with NO fees whatsoever from HSBC. It arrives in Thailand in Baht. Sadly, Bangkok Bank still deducts a fee before the money goes in, even though they do nothing but watch it all happen electronically. I will be taking this up with them.
Stuart ***********
@Tim ********
I think you will also get a terrible exchange rate?
Tim *********
@Stuart **********
44. something last time, Stuart. I'm sure any difference would add up over my remaining lifetime, but I'm enjoying my retirement too much to worry about a few baht here and there.
Stuart ***********
@Tim ********
that's a decent rate, seems like a decent option.

Enjoy your retirement Tim.
Tim *********
Todd *********
Wise
Paul *****
Wise is straightforward and easy.
Vinny **************
Wise account is best way
Colin ******
ORIGINAL POSTER
Thanks will look into it
Stuart *********
Set up a Wise account. Best transfer charges and exchange rates.
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