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Foriegn money transfers

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chickenchick | 21:04 Tue 31st Mar 2009 | Business & Finance
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What's the cheapest way to send money to a bank account in Thailand?
Hope someone can help.
Thanks.
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I don't know how it compares with doing a money transfer through your bank, but at the Post Office you can arrange a Moneygram. The money doesn't go into a bank account but is available for someone to cash 10 minutes after it has been sent. The person in Thailand would have to find a moneygram office (there are literally thousands all over the world) and let you know the details of the office.
http://www.postoffice.co.uk/portal/po/content1 ?catId=19400177&mediaId=19700176
I don't know how much it would cost to send money from your bank account to someones bank account in Thailand, if you contact your bank I'm sure they'd be able to help.

However, there is another option which is Moneygram. This is not paid into an account but is available for someone to get cash ten minutes after you have sent it. You send it through the post office. The person in Thailand would have to find a moneygram office (but there are literally thousands all over the world, and are often post offices). You send the money then ten minutes later the person (with id) would be able to get the cash. Here is a list of charges
http://www.postoffice.co.uk/portal/po/content1 ?catId=19400177&mediaId=19700176
All major banks will allow you to make an international payment to just about any country in the world including Thailand. Of course, you will be charged a flat fee to send the payment - perhaps �15 or �20 - and it can take up to a week for your payment to reach its intended destination.

Just be careful when making the payment. If you enter any incorrect information, your payment is likely to be returned to you, and it will be minus the beneficiary bank's charges and at a different rate to what it was sent out at. It doesn't sound a big deal but I came across it a lot when working for a bank not too long ago.

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