Guest Posted May 17, 2002 Report Share Posted May 17, 2002 Been meaning to check with my bank how they calculated the exchange rates but haven't got around to it yet. But I doubt I'd get more then a standard "that's the way it is" kind of answer (If I get an answer at all). If I get any additional info I'll let you know. ShokDee Link to comment Share on other sites More sharing options...
ultras67 Posted May 17, 2002 Report Share Posted May 17, 2002 Why not try the Nationwide BS. Open a flex account, take the online option, put the money in there and withdraw it from the ATM here. There are no currency transactions or other fees and you are charged the exchange rate for that particular day. In the last couple of weeks it has ranged between 63 and 62B to the pound. Its working for me fine. Link to comment Share on other sites More sharing options...
Guest Posted May 19, 2002 Report Share Posted May 19, 2002 The previous post is spot on in my experience.Keep the money in a uk online account,using an atm card,take out as you go,or say 20000 baht each time,Barclays for example do charge a flat fee and a tiny percentage,BUT I have found that the exchange rate used is interbank rates,hence slightly higher rate than exchange offices/banks normally offer,effectively giving you standard exchange rates with no hassles of wire transfers etc.Need money urgently sent to you?Assuming you've got in the first place!,anyone can pay money into your on line account,and you have immediate 24/7 access to it at best rates.Personally would now never take cash/TC'S again to LOS. Link to comment Share on other sites More sharing options...
Guest Posted May 20, 2002 Report Share Posted May 20, 2002 Thanks for the advice. But isn't there a limit on the amount you can withdraw by ATM in Thailand? I recall it is B20,000/day. If you need large amounts transferred from the UK to Thailand (say 1 million baht) then ATM is not a viable option. ShokDee Link to comment Share on other sites More sharing options...
spirit_of_town_hall Posted May 21, 2002 Report Share Posted May 21, 2002 Safest bet is to open a thai account and wire big sums to yourself and let the Thai Bank convert it in to baht. STH Link to comment Share on other sites More sharing options...
greg Posted May 21, 2002 Report Share Posted May 21, 2002 Is it not true however that in order to open a Thai bank account you need to have a work permit. Can anyone confirm this? Or will having a permenant address do? Link to comment Share on other sites More sharing options...
gummigut Posted May 22, 2002 Report Share Posted May 22, 2002 For a passport savings account all you need is your passport. Some banks will say you need a work permit. Just walk down the street to another bank. Current banking regulations say anyone can open up a savings account. To open a $ denominated account, you need a minimum 5000 US. Much harder to find a bank to open this account for you without having a Work Permit or proof of 1-year residency but can still be done. To open anything other than a savings account will necessitate a work permit or proof of residency. <<burp>> Link to comment Share on other sites More sharing options...
greg Posted May 22, 2002 Report Share Posted May 22, 2002 Thanks Gummigut I am British and will have between £4500 - £5000 saved by the time I arrive. Will a Passport savings account enable me to draw money from the ATM (or by any other method) in Thailand? Thus avoiding commision, poor rates etc by having to use a British debit card? Link to comment Share on other sites More sharing options...
gummigut Posted May 22, 2002 Report Share Posted May 22, 2002 Yes, you can get an atm card with a savings account. As for drawing with an ATM, ask your bank. As I stated before there are banks that have NO fees attached to withdrawing here and use a decent exchange rate <<sigh>> <<burp>> Link to comment Share on other sites More sharing options...
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