HSBC UK - Transfer Sterling to Thailand , What am I missing - Help Please

WilliamB

henm2 wrote: »

Yes you have got it right. The payment will be sent as sterling.

Thanks for the reply , its appreciated :T

Voyager2002

WilliamB wrote: »

Thanks for the replys , its appreciated :T


I'm looking at transferring £12,000.00 ( x 2 transfers to keep below the 1 million THB per transfer receiving limit ,requiring a certificate )

£ 12,000


HSBC sending Thai Baht are showing 616,119.84 THB ( Exchange rate 51.34332 THB )

Bangkok Bank are showing the current exchange rate ( TT ) of 52.58000 amounting to 625,680.00 THB

A difference of 9,560 THB ( £180. 56 ) per transfer


Ive looked at the links , and the rates look a lot better , having never used that sort of transfer option , any tips ?

Either way, your mia noi is very fortunate...

WilliamB

Voyager2002 wrote: »

Either way, your mia noi is very fortunate...

My little dark haired beauty is worth every Satang :kisses2:

socrates

RetiredInThailand wrote: »

Do you have any particular reason for that? As far as I can see you will be paying double transfer charges for nothing. As far as Thai banks are concerned there should not be a problem with a larger transfer. The "certificate" is just a forex receipt and in fact you can get one for any size of incoming transfer, if you want one.


If Bangkok Bank is your Thai bank then they have their own internal system for transfers from their UK branch to their own branches in Thailand.
http://www.bangkokbank.com/bangkokbank/personalbanking/dailybanking/transferingfunds/transferringintothailand/receivingfundsfromuk/Pages/ReceivingFundsfromUK.aspx
The cost would be about GBP20 though (so higher than your HSBC charge), plus the receiving charge of a few hundred Baht, but with no possible intermediary charge. You can choose whether to send GBP or THB.

This is your best option all round

RetiredInThailand

henm2 wrote: »

The maximum amount you can send is £50K and HSBC's charge is £4.

I would be surprised if some correspondent bank didn't add to that charge.

If you can actually do it for GBP4 (plus the inevitable Thai bank receiving fee which is usually capped at about GBP10/THB500) then it is indeed a bargain, and those are rare in the banking world these days.