Reports suggest the $A is taking a hit thanks to Trump. What do you think will happen in the coming months?

 

If you sent money over this week what rate did you get? Its been around 25 for ages

 

Just as a benchmark.

Using transferwise today you would get 24,414.31 THB for 1000 AUD.
Bank transfer will earn you less (for this amount).

Cash would give you 24.5 today at best exchanges.

 

Currency market numbers:

AUD has a slight upward trend since a bottom in mid June at 24.08.

Today at 24.68.

The future? I would be rich if I knew.

Today the rate if transferring it in is 24.27 baht to the AUD.

See: http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

4 minutes ago, ubonjoe said:

Today the rate if transferring it in is 24.27 baht to the AUD.

See: http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx

And on "top of that" there will always be some fees.

Up to 500 Baht for the Thai (Bangkok) bank and hard to predict fees for home country/other banks involved.

So one would come out even lower.

 

It hasn't been 25 baht for months. We live in uncertain times. The US if it puts up interest rates will lower the value of the AU and therefore make THB more expensive to buy in AU currency.

• If the International trade issues increase it might devalue the USD to both the AU and the THB so buying THB in AU may not be affected.
• The THB is losing ground against all currencies after having a stellar run for the last 12 months. If The THB devalues against all currencies, then it will be cheaper when buying from AU currency. The Thai treasury announced they will not be activly looking to reduce the value of the Thai Baht even though it hurts exports and tourism.
• Most Asian share markets are falling and China's has loss over 10 percent recently.

Make of all that what you will. The AU is heavily traded. If the AU government ups interest rates at all, money will flood back in and it will rise. How much, who knows.

 

 

 

 

4 minutes ago, Farangwithaplan said:

It hasn't been 25 baht for months. We live in uncertain times. The US if it puts up interest rates will lower the value of the AU and therefore make THB more expensive to buy in AU currency.

• If the International trade issues increase it might devalue the USD to both the AU and the THB so buying THB in AU may not be affected.
• The THB is losing ground against all currencies after having a stellar run for the last 12 months. If The THB devalues against all currencies, then it will be cheaper when buying from AU currency. The Thai treasury announced they will not be activly looking to reduce the value of the Thai Baht even though it hurts exports and tourism.
• Most Asian share markets are falling and China's has loss over 10 percent recently.

Make of all that what you will. The AU is heavily traded. If the AU government ups interest rates at all, money will flood back in and it will rise. How much, who knows.

 

 

 

 

Pundits in Australia are predicting 1 million Australian home loans will go into default if the Reserve Bank increases interest rates by just 0.15%. Don't think the RBA will pull the trigger on that scenario.

2 hours ago, Farangwithaplan said:

It hasn't been 25 baht for months.

Fell below 25 end of January to bottom at 23.8 in May.

3 hours ago, Farangwithaplan said:

It hasn't been 25 baht for months. We live in uncertain times. The US if it puts up interest rates will lower the value of the AU and therefore make THB more expensive to buy in AU currency.

• If the International trade issues increase it might devalue the USD to both the AU and the THB so buying THB in AU may not be affected.
• The THB is losing ground against all currencies after having a stellar run for the last 12 months. If The THB devalues against all currencies, then it will be cheaper when buying from AU currency. The Thai treasury announced they will not be activly looking to reduce the value of the Thai Baht even though it hurts exports and tourism.
• Most Asian share markets are falling and China's has loss over 10 percent recently.

Make of all that what you will. The AU is heavily traded. If the AU government ups interest rates at all, money will flood back in and it will rise. How much, who knows.

 

 

 

 

November.....

47 minutes ago, weegee said:

November.....

? What are you referring to ?

Last time the AUD was over 25 was from about mid December to end of January 2018.

Edited July 11, 20187 yr by KhunBENQ

I sent a small amount in THB yesterday, rate was  23.3517. Westpac bank charge was AUD 10, BKK Bank fee was THB 250.

If you send in AUD, Westpac fee is AUD 20, not sure of the BKK bank rate and fee, which is why I always send in THB - at least I know the rate, and provided I transfer by 1400 AEST, its in the BKK Bank account by about 1600 Thai time. 

 

The AUD fell against the USD last night, and the rate for sending THB has reduced to 23.228 today.

I have been using OrbitRemit over the last few months, only a $4 fee and no fee this end, the current rate is 24.3936, they tell you what you will get and it is guaranteed.

I used to transfer A$ from the Com bank, $22 fee, then a 320 baht fee this end from SCB, so OrbitRemit is a lay down misere for me, last one I did was in my SCB account that afternoon.

Edited July 12, 20187 yr by Pungdo

I moved 10k last week.

The XE rate was about 24.5 at the time, after fees my bank gave me 23.96.

Can get 24.2 through OFX this morning. No fees from them but Kasikorn does charge.

I took 20,000 on my Visa a couple of days ago.. cost me $852 AU.. which comes to 23.47 Bt per $1.. that included 220 Bt ATM fee. Up a tiny bit from a few weeks ago..  has been around this level for some time now.. The Bt & $AU move in tandem to the $US so not a lot of difference if the $US changes.. X-rates has it at 24.57 today.. but you tend to loose aprox 1Bt for the bank..  In spite of a lot of talk about the AU crashing the Australian economy has been ticking along ok.. who knows what it will do 6 months or 1 year.. worry about that when we get there.. 

 I send money monthly to Thailand from Australia. Transfer from NAB to Bangkok bank, last week the rate was 23.6 Baht to the dollar, been under 24 for couple of months now. With the NAB if you transfer in the currency of the country you're sending it to, they charge a flat rate of $10 and also cover the costs of the bank you're sending it to.

BahtSmart is around 24 baht to the $ today, no fees from Australia or in my bank SCB in Thailand

Edited July 12, 20187 yr by 4MyEgo

Last Monday 9th I withdrew 24220฿ [ie including BKKBk 220฿ fee] from BKKBk atm here in Surin. I used my Oz Citibank debit card. It cost me $A985-43. No Citibank fee (ever). Midrate at the time (within 5 minutes) was 24.77. I got xrate 24.57, or 24.59 if you take out the 220฿ fee & adjust accordingly.

 

Best way to do it, as far as I can tell. When I'm in BKK, I use the Citibank atms at Asoke so there's no BKKBk fee and the rate received is even closer to the midrate at the time (on one occasion a few months ago I actually got better than the midrate, for some reason). Keeping $A10K+ in my non-interest Citibank account in Oz no doubt helps. [Given the low rates of interest to be earned in a savings account + the tax to pay on it, I figure that non-interest + excellent xrate is the way to go.]

I just changed a few hundred dollars to baht and got 23.67 per dollar with my global currency card.

Putting money into Westpac global currency card incurs no fees but the rate is not the best also 220 baht to get it out of the ATM and then a $3 fee from Oz for using a foreign ATM. 

A way around this with my bank is to draw 20,000 plus and do it over the counter and put into my Thai account, so far no fees.

Lets face it , the only winners are the Banks

 Interesting story for transferring money  from an Australian bank. I had been transferring Aussie dollars to Bangkok Bank for years getting very good exchange rate. Then I noticed the exchange rate was not as good as I expected, so I opened an Australian dollar account here so that I could transfer it into Baht at the time of my choosing.  To my astonishment my first transfer into the Australian dollar account arrived in Baht. I had been paying extra money to get it transferred in Aussie dollars so I was not pleased. Discussion with the bank was that they transferred in Aussie dollars but they were not responsible for what they’re  correspondence bank did. After much argument and pulling strings I luckily have, I was refunded all the losses in exchange rate and cost of telephone calls et cetera.  And any transfer I do arrives in Australian dollars. The banks foreign exchange department here in Bangkok told me that many customers had suffered from this. 

Check out Bahtsmart is cheaper than sending A$ from Westpac to Kbank

6 minutes ago, norbra said:

Check out Bahtsmart is cheaper than sending A$ from Westpac to Kbank

I have used both Transferwise and Bahtsmart with Transferwise giving a slightly better rate. Transferring AUD10,000, they would give me 4,000 baht more at the moment. Sometimes it has been 7,000-8,000 baht more so I stay with Transferwise.

Using Westpac ATM card to withdraw at any local bank ATM here converted at 23.75B including the 220B local fee. Westpac charge $5 fir the withdrawal.

Also doesn't show on any local bank statement as possible "Income "

I had an offer hanging around yesterday for 24.60 from the day before with OFX 1 AUD = 24.6058 THB* its free if transferring 10000 AUD and 12 bucks if below that, zero fee into BKK, I usually do 2 sends a year and usually have been lucky with getting above 25 on most and never any problems.

4 hours ago, GreasyFingers said:

Can get 24.2 through OFX this morning. No fees from them but Kasikorn does charge.

OFX has a $15 fee ? Have used them many times ,best rates I have found consistently. Don't use Aust Banks rates to send money (unless maybe you have a large amount & can haggle) ever IMO. 

Sorry just read post re: OFX..noted 

Edited July 12, 20187 yr by HeavyHands
updated info

25 minutes ago, orchidfan said:

Using Westpac ATM card to withdraw at any local bank ATM here converted at 23.75B including the 220B local fee. Westpac charge $5 fir the withdrawal.

Also doesn't show on any local bank statement as possible "Income "

Open an account in Thailand if possible, if on tourist visa you may have to shop around.

Using Aust based cards/accounts is "bushranger"like  robbery.

my guess is that the Aussie Reserve Bank will keep interest rates on hold for the short to medium term (12 months) and the US are on an interest rate increase trend. This usually results in a stronger US$.

 

We are going to the US in December and I am buying currency now (AUD-US$) as I don't see it (unfortunately) getting much better for the AUD$ in the short term. 

6 hours ago, bra said:

I sent a small amount in THB yesterday, rate was  23.3517. Westpac bank charge was AUD 10, BKK Bank fee was THB 250.

If you send in AUD, Westpac fee is AUD 20, not sure of the BKK bank rate and fee, which is why I always send in THB - at least I know the rate, and provided I transfer by 1400 AEST, its in the BKK Bank account by about 1600 Thai time. 

 

The AUD fell against the USD last night, and the rate for sending THB has reduced to 23.228 today.

I sent some on Monday with Instarem and got 24.70. Instarem charge only $1 for every $200 sent. So send $1,000 and pay $5 to transfer it. The receiving bank fee was 0. So if you sent $1,000. After fees you would have roughly 22,852 baht.  I got 24,600 baht after fees.  1,748 baht extra in my pocket. Thank you..!! 

 

If you want to save lots of money on fees, then forget the banks. They are a complete ripoff.

 

Instarem are running a referral program at the moment. You can transfer up to $4000 fee free. Just drop me a PM for the code.

About 2 hours ago helped a mate transfer money from Oz to his bkk bank with transfer wise, 24.56 tb xrate after all fees deducted. 

1 hour ago, Mr Smoothex said:

I sent some on Monday with Instarem and got 24.70. Instarem charge only $1 for every $200 sent. So send $1,000 and pay $5 to transfer it. The receiving bank fee was 0. So if you sent $1,000. After fees you would have roughly 22,852 baht.  I got 24,600 baht after fees.  1,748 baht extra in my pocket. Thank you..!! 

 

If you want to save lots of money on fees, then forget the banks. They are a complete ripoff.

 

Instarem are running a referral program at the moment. You can transfer up to $4000 fee free. Just drop me a PM for the code.

Sounds interesting. How long does each transfer take? Say I request $A1000 worth of ฿ at 0900 this morning Thai-time. In the broad, when would I expect to see the ฿ in my BKKBk account here in Thailand?

42 minutes ago, mfd101 said:

Sounds interesting. How long does each transfer take? Say I request $A1000 worth of ฿ at 0900 this morning Thai-time. In the broad, when would I expect to see the ฿ in my BKKBk account here in Thailand?

I normally do the transfer at noon on a Monday and the money is in my Kasikorn account mid Wednesday morning.

In the past I have done over 30 transfers with Transferwise and they were getting transfers to me in about 6 hours. Then they increased there fees so I switched to Instarem.

To transfer $1,000 with Transferwise is $10.44 and Instarem is only $5. Their exchange rates are nearly the same. they both use the mid market rate

My last transfer was even better than the cash rate in the TT exchange booths in Pattaya