No TT rate showing on bank website.

[stubuzz]

My employer wants to transfer my salary in Saudi Riyals to my Thai bank account. The bank shows a terrible notes rate but no TT rate for this currency. if no rate is offered, is a transfer possible?

[Oxx]

It would help if you named the bank.

[mahjongguy]

At the moment, Kbank shows a TT rate but nothing for notes.

[stubuzz]

Sorry, Bangkok bank and Kasikorn. The green numbers are buying and selling notes rate.

Edited January 31, 2019 by stubuzz

[Oxx]

You'll need to check with the bank, but I'm pretty sure the transfer will be possible, albeit at a terrible exchange rate.

 

For infrequently traded currency pairs, what the banks do is effectively first change SAR to USD, then USD into THB, taking a cut on each of the two exchanges.

 

If you're managing to save a decent proportion of your salary, I'd suggest getting it transferred into a USD account offshore, then bringing money into Thailand as and when needed.

 

If you transfer SAR into Thailand I would expect your bank to 'phone you up to tell you the exchange rate to be applied when the money arrives (which you can reject and wait in the hope of a better rate in the future, in which case your money will be held in SAR for, I think from memory, up to one year).