Answered5 years ago
What issues might arise when transferring money from a UK building society account to a Thai bank?
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.
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.
38 repliesnewest first
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Tom **********
OPThanks to all for advice, left the IBAN off and seemed to work for him. 🙏🙏
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 !
Stan *******
Look for the Transferwise group on Facebook. Best way ever to transfer from UK to Thai bank.
TransferWISE Solutions Thailand
TransferWISE Solutions Thailand
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Chris *****
Just link your nationwide card to a wise account and its easy...I do it all the time
Lynnette *******
Last transfer via wise was my Lloyds to Siam bank. Took 20 mins to go from my lloyds account and arrive in thailand.
Bob **********
Wise App
Roland *******
TransferWise app, using years no prob.
Terry **********
Use WISE. APoP
Lynnette *******
I've used my nationwide bank to transfer to thai bank using Wise. Simple, fast and cheaper than "bank" transfers.
Darren ******
I do NW to wise about £5 on £1000 then wise to Bangkok bank 32b.
Takes 24 hrs all done
Takes 24 hrs all done
David *******
We regularly send funds via Wise, from Nationwide to Thailand banks. ( because it’s better rates 😉👍)
Brian ********
My nat west bank send me money every month no problems
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
Sam *******
Use wise. Just need account no and sort.. no Iban swift needed. Good rates too
Darren *******
I use Wise to transfer from my Nationwide account to my Thai one. Never had any issues and money transferred instantly.
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?
Are there charges in Thailand for receiving in Baht?
I presume if I SEND USD will get bad rate from Bangkok Bank to convert?
John *********
@London ****
if your transferring say $*****
0 then ask Bangkok bank for there dealing desk exchange rate. It’s alway better than their published rate.London *****
@John ********
it's only going to be about 1m baht.
Michael ***************
If you use a commercial bank it is straight forward, but some building societies don’t have the correct facilities
Claudia **********
Use wise is very simple
Simon *******
Wise mate best rates and no fee
Paulus *********
Save yourself money and use wise .
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.
Mark ******
@Tony ********
Is there a limit on the amount you can transfer with Wise?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+limitsMark ******
@Neil ********
ahh, that might explain why Immigration wanted me to change my “retirement fund account” from Kasikorn to Bangkok Bank when I renewed my Retirement visa in December. I’ve used Kasikorn for the past few years (on their recommendation), but suddenly this year they wanted it changed.
Neil *********
@Mark *****
no you are right. However the new rules doesn’t apply to certain banks, such as Bangkok bank. I’m not sure about them all.Tony is right absolutely use wise never use a U.K. bank directly you lose too much.
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.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.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.
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
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 ?
Carol ********
I use Wise, tx from uk and then to thai account
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.
Wire/swift is reliable and you can prove the money is from abroad, this is often need for visa and buying property.
Steve **********
@Benoit ********
works well, good rate.
Kool *******
SWIFT works, so it has to be from the UK side.
Stuart *********
No idea why he can’t transfer. Thailand doesn’t use IBAN, but does use swift. You use your account name, swift code (google swift + bank name Thailand) and account number.
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