I have been receiving my UK Pension paid directly into my SCB account for many years. Regular deposits every 4 weeks no problem.
At first when my pension payments started I would regularly check the amount arriving in my Thai bank. I can't remember exactly but the difference between the exchange rate and what arrived in the account, allowing for some minor bank charges/transfer fees seemed quite small and reasonable.
Over the years there were of course some fluctuations of monies deposited depending on the fluctuations of the exchange rate, but overall it seemed OK.
With all this talk of tax, both here and the UK and general messing with the pension system of the UK Government, I thought I'd just have a check on the payments into my Thai Bank.
My (Frozen) Pension is £628.88 per 4 weeks.
These last couple of payments into the bank have been ฿17827.45 and just last week ฿18546.56.
Now according to the current exchange rate of ฿43.319, the amounts should have been nearer ฿27242.52 or similar. If my calculations are correct I'm missing out on about ฿9000 every month.
Surly the bank charges could not be so high on such a relatively small amount and any new tax or additional charges would show up on the bank statement.
Any thoughts, anyone?
Anyone interested on checking their own historical Exchange Rate:-
https://www.x-rates.com/historical/?from=THB&amount=1&date=2020-02-12