Currency Transfer Limits

Visa questions, companies, work permits, employment, insurance, banking and finance, and legal issues.
Post Reply
User avatar
Big Boy
Moderator
Moderator
Posts: 45044
Joined: Fri Nov 04, 2005 7:36 pm
Location: Bon Kai

Currency Transfer Limits

Post by Big Boy »

Normally when I top my Thai funds up from my UK account, I do it £10K at a time. This has always been a safe amount to transfer. Due to Brexit fluctuations, I have not transferred for sometime. However, funds are dwindling, and visa extension time is looming - I need to transfer funds soon, or sell my body :idea: if I sell it by the kilo, I could become rich :D.

Seriously, I know £10,000 was a safe amount to transfer, but this time it won't be enough. Are there any restrictions on transferring maybe £20,000 in one go please?
Championship Plymouth Argyle 0 - 1 Preston NE :cry: :cry: :cry: :cry:

Points 41; Position 18
moater
Specialist
Specialist
Posts: 161
Joined: Wed Aug 13, 2014 4:20 am

Re: Currency Transfer Limits

Post by moater »

There are no limits to a SWIFT transfer. You can transfer 1 million GBP if you can prove the money is legit. 20K won't even raise the question, especially if you're an established customer of the bank.

Also consider transferring via a 3rd party service, in order to get a better exchange rate. Look at Transferwise and Currencyfair.
User avatar
Big Boy
Moderator
Moderator
Posts: 45044
Joined: Fri Nov 04, 2005 7:36 pm
Location: Bon Kai

Re: Currency Transfer Limits

Post by Big Boy »

OK, thanks - I know there was a time when more than £10K would be impounded for a time (1 year from memory). That sounds as if it is no longer the case.
Championship Plymouth Argyle 0 - 1 Preston NE :cry: :cry: :cry: :cry:

Points 41; Position 18
robcar
Professional
Professional
Posts: 411
Joined: Mon Apr 28, 2014 10:28 am

Re: Currency Transfer Limits

Post by robcar »

Currencyfair no longer have a Baht changing facility. I have been using TorFX for my last few transfers. No limit imposed but you will need to specify what the money is to be used for. I always say '' Living Expenses''.
User avatar
pitsch
Guru
Guru
Posts: 775
Joined: Wed Apr 29, 2009 5:50 pm
Location: Pranburi

Re: Currency Transfer Limits

Post by pitsch »

4 years ago, there was a limit of 20 000 USD, but you could transfer more at one time, then the Kasikorn bank wanted a statement for what the money was.
moater
Specialist
Specialist
Posts: 161
Joined: Wed Aug 13, 2014 4:20 am

Re: Currency Transfer Limits

Post by moater »

Sorry, I meant Currencytransfer (www.currencytransfer.com), not Currencyfair. I found their exchange rates extremely hard to beat. They only accept transfers of 5K or more.
HHTel
Hero
Hero
Posts: 10816
Joined: Mon Feb 12, 2007 7:44 pm

Re: Currency Transfer Limits

Post by HHTel »

I transferred 20K in one lump from the UK just a few months ago. No problem.
User avatar
StevePIraq
Rock Star
Rock Star
Posts: 3043
Joined: Sat Jun 28, 2008 1:21 pm
Location: Ting Tong Land

Re: Currency Transfer Limits

Post by StevePIraq »

BB it depends which UK bank, if with Lloyds you can send what you like however the commission increases with the sum. If you send £9,999 the commission is less than if you send 10k.
"Live everyday as if it were your last because someday you're going to be right." Muhammad Ali
User avatar
Big Boy
Moderator
Moderator
Posts: 45044
Joined: Fri Nov 04, 2005 7:36 pm
Location: Bon Kai

Re: Currency Transfer Limits

Post by Big Boy »

Yes, I did it with my bank (NatWest) and they impose a £10K limit, which is strange because when I moved here I transferred much larger sums for house purchase etc.
Championship Plymouth Argyle 0 - 1 Preston NE :cry: :cry: :cry: :cry:

Points 41; Position 18
User avatar
kendo
Rock Star
Rock Star
Posts: 3571
Joined: Mon Apr 07, 2008 7:11 pm
Location: Southampton.

Re: Currency Transfer Limits

Post by kendo »

I transferred 20K eleven years ago then further advances through Natwest with no issues. On the form i just stated House building funds.
Big Boy i can pop into my local branch and ask any questions for you no problem mate.
Is Bangkok a place or a nasty injury.......Eric Morcombe.


Proud to be a Southampton FC Fan.
User avatar
Big Boy
Moderator
Moderator
Posts: 45044
Joined: Fri Nov 04, 2005 7:36 pm
Location: Bon Kai

Re: Currency Transfer Limits

Post by Big Boy »

Well, the computer said "No" - I had to do 2 transfers. I have a good alternative for the 2nd transfer though.
Championship Plymouth Argyle 0 - 1 Preston NE :cry: :cry: :cry: :cry:

Points 41; Position 18
moater
Specialist
Specialist
Posts: 161
Joined: Wed Aug 13, 2014 4:20 am

Re: Currency Transfer Limits

Post by moater »

It's probably a default limit set for "your safety". You should be able to call the bank and raise it.
HHTel
Hero
Hero
Posts: 10816
Joined: Mon Feb 12, 2007 7:44 pm

Re: Currency Transfer Limits

Post by HHTel »

When I did it with Lloyds a few months ago, I had no problem. The reason I gave was 'own account transfer' if that makes any difference.
Post Reply