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What issues might arise when transferring money from a UK building society account to a Thai bank?

money transferThai banksUK building societyIBANSWIFTWiseinternational transfer issuesexpat banking in Thailand
Feb 2, 2022
3 years ago
Tom **********
ORIGINAL POSTER
Asking for my bro. He has a building society account in Uk (nationwide), has opened a bank account successfully (Bangkok), he cannot transfer money into Thai bank because IBAN and Swift not work, is this a normal problem?. I can get him to transfer money into my UK account and pay into my Thai account but want to know if building society is the issue here. TIA.
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TLDR : Answer Summary
A user is inquiring about an issue with transferring money from a UK building society account to a Thai bank, specifically whether the building society is the problem due to difficulties with IBAN and SWIFT codes. The discussion reveals that Thailand does not use IBAN, and several contributors suggest that using SWIFT without the IBAN works. Many recommended using Wise for easier and cheaper transactions. Ultimately, the user found success by omitting the IBAN.
Tom **********
ORIGINAL POSTER
Thanks to all for advice, left the IBAN off and seemed to work for him. šŸ™šŸ™
3 years ago
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Sad ********
Nationwide is a bank ant a Building Society anymore, so there shouldn't be an issue. You might have to send the relative banks a fax of your passport and a letter for permission of transfer, as you might not of informed them when you traveled abroad. Good luck !
3 years ago
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Stan *******
Look for the Transferwise group on Facebook. Best way ever to transfer from UK to Thai bank.

TransferWISE Solutions Thailand

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3 years ago
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Chris *****
Just link your nationwide card to a wise account and its easy...I do it all the time
3 years ago
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Lynnette *******
Last transfer via wise was my Lloyds to Siam bank. Took 20 mins to go from my lloyds account and arrive in thailand.
3 years ago
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Bob **********
Wise App
3 years ago
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Roland *******
TransferWise app, using years no prob.
3 years ago
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Terry **********
Use WISE. APoP
3 years ago
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Lynnette *******
I've used my nationwide bank to transfer to thai bank using Wise. Simple, fast and cheaper than "bank" transfers.
3 years ago
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Darren ******
I do NW to wise about Ā£5 on Ā£1000 then wise to Bangkok bank 32b.

Takes 24 hrs all done
3 years ago
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David *******
We regularly send funds via Wise, from Nationwide to Thailand banks. ( because itā€™s better rates šŸ˜‰šŸ‘)
3 years ago
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Brian ********
My nat west bank send me money every month no problems
3 years ago
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Jim ********
Had a similar problem from Ireland because Thai banks do not operate IBAN . I couldnt transfer with online banking however the counter staff were able to do it for me
3 years ago
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Sam *******
Use wise. Just need account no and sort.. no Iban swift needed. Good rates too
3 years ago
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Darren *******
I use Wise to transfer from my Nationwide account to my Thai one. Never had any issues and money transferred instantly.
3 years ago
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London *****
Any wisdom on transferring funds from US to Bangkok Bank without an IBAN no?

Are there charges in Thailand for receiving in Baht?

I presume if I SEND USD will get bad rate from Bangkok Bank to convert?
3 years ago
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John *********
@London ****
 if your transferring say $
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0 then ask Bangkok bank for there dealing desk exchange rate. Itā€™s alway better than their published rate.
3 years ago
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London *****
@John ********
 it's only going to be about 1m baht.
3 years ago
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London *****
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Michael ***************
If you use a commercial bank it is straight forward, but some building societies donā€™t have the correct facilities
3 years ago
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Claudia **********
Use wise is very simple
3 years ago
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Simon *******
Wise mate best rates and no fee
3 years ago
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Paulus *********
Save yourself money and use wise .
3 years ago
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Tony *********
When I do a SWIFT transfer from Nationwide I just use the Swift code. Forget about IBAN. But it never do it that way now. I use Wise and save a lot of money. I would strongly advise your bro to open a Wise account. When I transfer from Nationwide to my Thai bank account the money is in the account in about 2 seconds at a guaranteed exchange rate.
3 years ago
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Mark ******
@Tony ********
 Is there a limit on the amount you can transfer with Wise?
3 years ago
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Tony *********
@Mark *****
 the transfer fees are lower than from Swift transfer but it gets to a certain point which I haven't worked out where a large amount would be cheaper by doing a swift transfer but the Wise app has a calculator which tells you exactly what the charges are. Apart from the transfer charged you also get the mid rate which can make a big difference.

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56/tips-for-getting-started-with-large-transfers?origin=search-Sending+to+Thailand+limits
3 years ago
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Mark ******
@Tony ********
 Thanks for that info. I asked because I read somewhere recently (and I may have misconstrued the article) that Thai banks were now accepting a maximum of THB50,000 per incoming transaction. I believe it was something to do with combatting money laundering.
3 years ago
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Tony *********
@Mark *****
 You can transfer more than that. I've had clients transfer 1 million dollars here without any problems to buy a property. Over a certain amount they just need to know what is the purpose of the funds. Those are Bank of Thailand rules so you would get a phone call asking you what the funds are for. As far as I'm concerned the minimum amount before you have to give a reason is 20,000 dollars.
3 years ago
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Mark ******
@Tony ********
 Ahh, OK. I've also transferred amounts like that in the past, I thought this THB 50,000 was a new thing. Maybe I read it wrong.
3 years ago
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Neil *********
@Mark *****
 no you are right. However the new rules doesnā€™t apply to certain banks, such as Bangkok bank. Iā€™m not sure about them all.

Tony is right absolutely use wise never use a U.K. bank directly you lose too much.
3 years ago
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Mark ******
@Neil ********
 ahh, that might explain why Immigration wanted me to change my ā€œretirement fund accountā€ from Kasikorn to Bangkok Bank when I renewed my Retirement visa in December. Iā€™ve used Kasikorn for the past few years (on their recommendation), but suddenly this year they wanted it changed.
3 years ago
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Mark ******
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Thomas ************
I used to send from Nationwide, you can leave the IBAN section blank specifically for transfers to Thailand. That said, I now just use Wise as it's way cheaper and much faster
3 years ago
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Ivan *********
@Thomas ***********
 The first time I sent money to Thailand I was wrongly told that I needed an IBAN number . I went on the phone and found out the correct method . I guess they /Me learnt something .If I recall correctly you need an IBAN number for transfers within the EU ?
3 years ago
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Ivan *********
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Carol ********
I use Wise, tx from uk and then to thai account
3 years ago
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Jonas *************
Wise may be better for smaller amounts. But the fees add up if you transfer larger amount.

Wire/swift is reliable and you can prove the money is from abroad, this is often need for visa and buying property.
3 years ago
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Jonas *************
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Benoit *********
3 years ago
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Steve **********
@Benoit ********
 works well, good rate.
3 years ago
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Steve **********
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Kool *******
SWIFT works, so it has to be from the UK side.
3 years ago
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Stuart *********
No idea why he canā€™t transfer. Thailand doesnā€™t use IBAN, but does use swift. You use your account name, swift code (google swift + bank name Thailand) and account number.
3 years ago
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Stuart *********
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