ATM plus charges for foreigners?

[kenfowler]

My father in law is coming to Scotland for a couple of months fro Thailand (he is Thai). He has a substantial amount of money that he wants to bring over to the UK to invest, but doesn't want to carry it with him.
He only has a Thai bank account (Siam commercial bank) which gives him an ATM plus card. In Thailand, he can withdraw �4k per day (seems a lot)! questions: will he be able to use this card in the UK, which bank would he use and how much can he withdraw per day?

Is there another method of transferring money at a reasonable rate perhaps to my RBS or BOS account?

Thanks and regards

Ken

[Ethel]

I thought the maximum ATM withdrawal in one day in Thailand was 20,000 bhat - aroun �300.

If his card has a Visa logo he can use most cash machines, but the limit will be the same as everyone else - �250 or �300.

Ken, phone your bank and ask them for advice. It should be possible for your father to set up a transfer into your bank account, but check with your own bank.

[kenfowler]

Hi
Thanks for your reply.
I have just called him and they say he can withdraw 200,000 Baht per day in the UK with his card; the bank staff have possibly mis calculated or are mis informed? seems like a lot of money to come out of a hole in the wall!

He is looking to invest in the property market via me - any idea how that works for someone from Thailand?

Regards

Ken

[Trotbot]

My Thai ATM allows be 50,000 baht per day - I understand more is possible. I have not been charged ATM fees (not an SCB account, but a Thai bank).

There are restrictions on remitting money from Thailand, but investments are permitted and he should take advice in Thailand, not in the UK. I vaguely recall the limit without specific approval from the Bank of Thailand is around US$1 million

[kenfowler]

Hi
Are you withdrawing money from your Thai bank account at ATM's in the UK?
The amount of money is not huge, just around �30k for deposits on flats, I will have to take out the mortgages on his behalf but I am sure that will open up a can of worms regarding tax.
Ken

[Trotbot]

Yes, I withdraw from a Thai bank from UK ATMs. I suspect that large withdrawals would eventually trigger security concerns.