Chaps Transfer

[coldcrush]

Hiya All,

I have been sending money to Thailand using chaps transfer in the UK to LOS. I want to know why I see a sudden decrease in the amount at the other end? I have checked rates etc and the fluctaution is not that great 2 or 3 baht recently. I always send in sterling to the my bank in Thailand which has never had a large fee for converting into baht on arrival...why decrease...the Bank rates have not changed much?

Any ideas. thanks

Edited March 14, 2007 by lopburiguy

[topfield]

Hiya All,

I have been sending money to Thailand using chaps transfer in the UK to LOS. I want to know why I see a sudden decrease in the amount at the other end? I have checked rates etc and the fluctaution is not that great 2 or 3 baht recently. I always send in sterling to the my bank in Thailand which has never had a large fee for converting into baht on arrival...why decrease...the Bank rates have not changed much?

Any ideas. thanks

Friend you did not send a chaps payment to Thailand as that is impossible...see pasting below :

CHAPS is an electronic bank-to-bank same-day value payment made within the UK in sterling .

You probably sent a SWIFT international transfer.

Yes the baht has been rising steadily each day against the dollar and the pound took a hit last Friday knocking the rate against the pound from $1.97 down to $1.92.

The cumulative effect resulted in a drop in the pound baht rate of around 3 baht. It could get worse.

Sad for those UK expats here in Thailand who are sterling based.

[coldcrush]

Ok, yes you are right I was thinking the wrong way round on that. I should have monitored the asituation more carefully.

Thanks for your reply Topfield.

[Mahout Angrit]

...why decrease...the Bank rates have not changed much?

Are you sure? see recent rates