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What is the best way to transfer funds from a UK bank to Thailand as an expat?
Fund TransferUK to ThailandWise AppBankingRetirementExpat AdviceMoney Transfer ServicesBangkok BankForeign Currency Accounts
Jun 10, 2022
4 years ago
George *********
ORIGINAL POSTERI will be retiring to Thailand next month. How is it best to transfer funds from a UK bank...Barclay..to a Thai bank account whilst in Thailand. My phone app doesn't offer the Thai baht as a currency to transfer..and I am not sure if I would be able to access my bank account online by computer. Is it best to go through an agency to transfer money ? What to do for the best. Any advice appreciated.
TLDR : Answer Summary
When retiring to Thailand and needing to transfer funds from a UK bank, many expats recommend using the Wise app for its favorable exchange rates and efficiency. Transfers in GBP rather than THB may also yield better rates. Opening an account with a Thai bank or using services like Moneygram can be alternatives, but Wise seems to be a popular choice for many due to its simplicity and rapid transaction times. It's suggested to transfer money in smaller amounts to avoid potential issues with large transfers.
NON-O RETIREMENT VISA RESOURCES / SERVICES
- Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
- For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
- Explore recent discussions by using the Non-O Retirement Visa tag in the search box at the top of the page.
- Join the Thai Visa Advice Facebook Group to ask your questions, and get advice from others.
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Steve **********
Bangkok Bank has branch in both London and NY. Its a simple wire transfer at good exchange rate. Been doing it many years
Neville ********
Moneygram online is good and the baht is good and it's free to send money
Karim ***************
@Neville *******
have you ever tried Wise?Neville ********
@Karim **************
no as I heard there are lots of problems with wise but moneygram which I have used for awhile now is the best rates goingKarim ***************
@Neville *******
I literally have never heard of anyone having issues using Wise. Wise rates beat Moneygram rates.Reply to
Karim ***************
Reply
Patrick ************
Just go to Thailand open bank account transfer money from your bank with swift number
George *********
ORIGINAL POSTER@Patrick ***********
Do you transfer from the Uk bank in Sterling to Thai bank...or in Baht ?Reply to
George *********
Reply
Terry ********
Wise.com......Simply the best.
Joel *******
Thai banks are getting stricter about accepting large sums of money from abroad. I suggest you open a Wise account and slowly transfer your money over a bit at a time, don't try to do it all at once or it might get impounded.
Neil ********
@Joel ******
good advice, but can you tell us the timescales that you are thinking about? Days? weeks?Joel *******
@Neil *******
unless you need a lot for a big purchase, why not just transfer it over as you need it?Reply to
Joel *******
Reply
Karim ***************
You know there is a branch of Bangkok bank in London. Open an account there. Otherwise, use Wise and transfer from your U.K. bank account to Thai bank… Instant transfers.
Dan ********
@Karim **************
The Bangkok Bank in London, thats not a retail branch/ no personal banking.Reply to
Dan ********
Reply
Dave ********
*************************************
Dieter *******
Use the wise app. They are the best ….
Russell *******
Wise ,costs around £90 to transfer the 800, 000baht
Steve *******
Wise has the best exchange rates and does almost instant transfers most of the time.
Ron *************
@Steve ******
Large transfers are usually 24hrs if it's a wire transfer. ACH can take 6 to 7 days.Steve *******
@Ron ************
in my own experience transferring 40,000-50,000 from wise to Bangkok Bank takes a couple of seconds.I've used wise for 4 years now and only about 1 out of 10 times the transfer takes longer than that.
Not sure how long it takes to transfer from bank to bank through wise though, that should take longer, I'm guessing.
Ron *************
@Steve ******
I was talking about 1 to 2 million baht transfers. Wire takes 24hrs, ACH 6 to 7 days. I agree 40,000 to 50,000 baht takes seconds.Reply to
Ron *************
Reply
Jos *********
Visit this group for more info:
**********************************************
Marc *********
Use crypto, almost instantaneous and costs almost nothing
Brian *******
@Marc ********
which exchange do you recommend?Marc *********
@Brian ******
Bitkrub or bitmex but there are many othersJohnny ******
@Brian ******
I use Binance P2P service.Reply to
Johnny ******
Reply
Bim *******
Send it over as GBP. You get a slightly better exchange rate. Never send in Baht
Mihai ********
@Bim ******
hi..you have account in Thailand in pounds?? ThanksMihai ********
Ok..so it mean that the money will be in thai baht?? Or i can remove money from that account in foreign curency??
Jennifer ******
@Mihai *******
You deposit into the foreign currency account in whatever currency you have opened the account under. Then you transfer from that account to your thb account. That is how we have done it for years.Reply to
Jennifer ******
Reply
Bim *******
@Mihai *******
not the Thai bank converts it to BAHT when it arrives but the exchange rate you get is much better.Mihai ********
@Bim ******
ok..i understand now...si not possible to open account in foreign money! Thanks againJennifer ******
@Mihai *******
You can open foreign currency account in both SCB and Bangkok Bank. You need a THB account then sub foreign currency accounts.Bim *******
@Mihai *******
offshore account maybe but not sureReply to
Bim *******
Reply
Shaun *********
Use the "Wise" app. Transfer to a Thai bank account.
Mark ************
Wise... ! very good
Bob **********
Wise App
Henry *********
Always transfer money in £ not baht. I regularly make online transfers from my UK bank.
Paulus *********
Use ‘wise’ app formerly transfer wise. A lot of people on here use it. It’s simple to use and you get a decent exchange rate, better than your bank.
Reply to
Paulus *********
Reply
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