Hello everyone,
I have moved to thailand and my husband has sent me to find a house before he starts work out here.
I ahve no found a house and they want 1 months rental and 2 months deposit. I didn't expect to find someone straight away but it's happened so now I ahve a problem of how to get my money from the UK to here?
I don't have a bank account here yet!
I only have credit or debit cards can anyone offer any sound advice please?
Thanks
C
You can take the credit or debit card to one of the money exchange places and get cash.
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Hi Don
Is that cheaper than getting from atm machien? I asked at an exchange place tonight but the lady said no?!
Getting cash from your credit card at an ATM and paying it off immediately is usually the cheapest way to transfer money, because you'll get a lowest rate. This is a general rule of thumb, though; the reality will vary according to card issuer and bank. Also, make sure your card does not charge "foreign transaction fees", which some cards do.
We all want the lowest rate. Yes, use your ATM card. Your Thai bank will love you.Originally Posted by Thinkingofachange
It depends on how much you need. I honestly don't know what the limit is for an ATM withdrawal but any amount withdrawn will cost you 150 baht. If you can withdraw all you need from an ATM then I guess it will be cheaper.
As far as your bank charging you, I don't see how you can avoid that. Maybe a Western Union transfer done by your husband? It will cost more than an ATM withdrawal but you would avoid any fees, if your bank has them.
Thanks everyone, ive never used western union how do they work?
Western Union is pretty straightforward, and has a set fee (I think $15) for a transfer. The person sending the money goes to a Western Union office, fills out a form identifying the person receiving the money and where that person is. The person then goes to the WU office specified by the sender and picks up the money. I don't even think ID is necessary, but still bring your passport and use it.
^^ You go to a Western Union branch in the UK - there's normally one on every town high street, complete a form (sender's details, receiver's details), hand over cash + passport (for ID purposes), fee and it's done for you. Would cost more than 150 baht though.
In general a debit card is better than a credit card for moving cash, because although you will have to pay atm fees, there is no additional "cash advance fee" that most credit cards charge. And the atm machine will probably still take a bite even for a credit card. Western Union is almost sure to be more expensive than a debit card, too.
To minimize atm fee costs with the debit card, take out as much per transaction as the atm will allow. (Start high and go lower incrementally until the machine allows the transaction.) Atm fees are usually charged per transaction, regardless of the amount.
Last edited by Buoyant; 3rd September 2012 at 21:29.
Thank you everyone
Walk into any bank. Use your DEBIT card or visa card to withdraw up to your limit, Mine are something like $600 and $1000 repeat until you have the cash necessary.
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You can open a bank account in a few mins and get the funds transferred to you. You could also withdraw the cash at an ATM using your debit/credit card. I'm sure the landlord will wait a few days for full payment. People are pretty easygoing in Thailand.
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