Money Transfers...

[ProThaiExpat]

JimGant: your last post mirrors my conclusion as to the ideal way to handle the retirment financial responsibity criteria set up by immigration EXCEPT for:

Thai immigration likes to see multiple inflow activity to your bank account during the year. And, yes, we know what they're looking for.

The quoted portion doesn't seem in sync with the conclusion that follows. I was unaware that immigraion was interested in MULTIPLE inflows, only multiple outflows reflecting living expenses. Did you mean to say "multiple outfows"?

[RDN]

To my thinking, one top up per year -- right before extension time in order to bring up to requirement level -- would be the best way to go. As such, you only pay one wire fee per year, not multiple fees (in my case, $50 per wire transfer).

However, if I understand what I read on this forum, Thai immigration likes to see multiple inflow activity to your bank account during the year. And, yes, we know what they're looking for. But I would think you would pass muster if your passbook showed a 13 month history as follows: -- initially brought up to requirement before last extension by a foreign transfer; then a series of ATM withdrawals during the next 12 months showing your ongoing expenses; and then right before renewal, another top up from abroad to bring you up to requirement level. And having such a 13 month history should seemingly work if in place prior to applying for your first ever long term visa extension.

Jim, that's exactly what my bank "pass book" shows - lots of ATM withdrawals and then one or two big transfers in just before extension. But immigration has never queried my single (or double) yearly top-ups, as you have suggested they might. I don't believe this is a problem as they must know that when you are retired you may be living on a nest-egg invested abroad.

[JimGant]

Pro, RDN,

I'm sure you guys are right, and it certainly makes sense that Thai immigration wouldn't care too much about movement velocity into the account.

I told myself not to rely on my memory, but I never can remember to remember that. Ah, senior moments.

Are you using a credit card issued by your Thai bank? If so, any noticeable differences from your farang credit cards? Can you pay your credit card bill via Internet, debiting your bank account?

[RDN]

I told myself not to rely on my memory, but I never can remember to remember that. Ah, senior moments.

Are you using a credit card issued by your Thai bank? If so, any noticeable differences from your farang credit cards? Can you pay your credit card bill via Internet, debiting your bank account?

Krung Thai Bangkok gave me a Visa Elecron card, which I understand is often rejected by many stores, but I have used it for shopping when I have run out of cash. But Krung Thai Phuket just gave me an ATM card. I didn't even notice it was different from my other one. But I have never liked using credit cards here, and have always tried to pay cash for everything - even air tickets.

Krung Thai do have internet banking and I check my account regularly - like every couple of days. I copy the details into a spreadsheet and check the calculations. Too much time on hands! ...keeps the brain active...

[KevinN]

KevinN: NOW you really have my attention!!

(1) Is it true that your card is a debit/atm card issued with a Visa format?

(2) Is it also a credit card?

(3) Is it issued by an overseas bank?

(4) What actually happens when you put it in the ATM at SCB and how do you get it from a withdrawal from your overseas account into your SCB passbook account?

(5) Is this transaction limited to your single use ATM limit?

Your transaction borders on my fantasy at this point. Getting this kind of card from my bank in Hawaii, without actually going there, seems remote.

On the other hand, the card issued by First Internet Bank is a debit/atm/Visa from what they state on their webpage.

So, I wouldn't have to pay wire transfer fees, if I am not limited to the usual $500 single use ATM/debit card limit. Thus my question on your maximum amount allowed per transaction.

PTE,Sorry as I do not come here often to this thread,as I have stated how I use the DEBIT card many times,but will do it again.

My card is a regular ATM/CHECK CARD[it has my bank name,the card numbers in raised figures,ATM/CHECK CARD ,my name and the visa logo in the lower right corner,,on the back says CIRRUS and STAR] NO it is not a credit card,only an ATM/CHECK,same as the one I got from SCB electron[which is M/C instead of visa] When I put it in the ATM,I get my CIRRUS account from my US bank,and I can make regular ATM withdrawls from my US acct.and restricted to my ATM limit or the ATMs limit that I am using.

To get the money in my SCB acct. I have to go up to the desk and tell them I want to make a transfer to my SCB passbook, Give them my US ATM/CHECK CARD,and my passbook,they then get on the phone and give some numbers to someone I guess and then take their credit card machine and run off a reciept just like you get with a CC purchase,and on the reciept it says all the numbers,and 50,000 TBH, last week I did my regular transfer as I have said and the transfer cost me the regular 60 TBH fee and from my US ATM acct was a withdraw of $1240.45 for the 50,000,so not to bad on exchange rates. if you need anymore info feel free to email me or PM or what ever is easy for you.

[ProThaiExpat]

KevinN: Many thanks for your reply. It is now clear to me that you are indeed doing a debit/transfer with your Visa card.

I have said, Bangkok Bank and no doubt, SCB have indicated they can do that with a Visa or Mastercard debit card, but no with my bank issued debit/atm card.

I can guess that there is a Visa and Mastercard telephone number in Thailand that they can "clear" the transaction through, while my Hawaii ATM has telephone clearance problems, ie language and time zone.

Your help has taken me a long way. If you could give me your branch of SCB I will note it for future reference when I get my Visa or Mastercard Debit Card for First Internet Bank.

You are responsible for getting SCB a new customer, as yesterday I transferred all my Bangkok Bank savings account money to SCB and am the proud owner of a SCB ATM/debit card good for 200,000 a day. Bangkok Bank limited me to 40k a day, granted they have another card that goes higher but you have to pay for it.

This whole thread has taken me to the mindset that there is no reason to carry a lot of cash around as the debit card works almost anywhere, including ATM and credit card foolishness is not involved.

Many thanks.

[lopburi3]

My card is a regular ATM/CHECK CARD

This is also known as a debit card as it directly takes the funds from your account; rather than a credit card which bills later.

Believe you mentioned using ATM before/after to check your local account balance in earlier post? Think some may have thought it had something to do with the exchange.

This does appear to be a cost effective method and believe we all owe you one for bringing it to our attention.

[KevinN]

The transfer speed is good as they both happen within CIRRUS,so goes pretty fast, just from one acct to another within the structure, debit one acct and add to another

[ProThaiExpat]

Your all so right!

First Internet Bank was the first time I saw reference to an ATM/CHECK card used to refer to their debit card. I think a poster with account in the Channel Islands may likewise had that reference.

[Roger13]

To get the money in my SCB acct. I have to go up to the desk and tell them I want to make a transfer to my SCB passbook, Give them my US ATM/CHECK CARD,and my passbook,they then get on the phone and give some numbers to someone I guess and then take their credit card machine and run off a reciept just like you get with a CC purchase,and on the reciept it says all the numbers,and 50,000 TBH, last week I did my regular transfer as I have said and the transfer cost me the regular 60 TBH fee and from my US ATM acct was a withdraw of $1240.45 for the 50,000,so not to bad on exchange rates. if you need anymore info feel free to email me or PM or what ever is easy for you.

Kevin,

Can you tell us the name of your

US Card issuer and do you

know what is the Maximum amount

you are allowed to withdarw to

deposit into your SCB Account?

Roger

[lopburi3]

no reason to carry a lot of cash around as the debit card works almost anywhere, including ATM and credit card foolishness is not involved.

Be careful as don't believe you have a whole lot of protection using that card here unless there have been recent changes. If someone gets card, or makes a copy, they could wipe your bank account out and bank may hold you responsible. In US you have protection but I would read (if you can) the terms here very closely. When I did a few years ago "I just said no". If I were to use such a card it would be on another account with only funds I could afford to lose in it.

[ProThaiExpat]

Very good point, Lopburi3. I have used an ATM in Thailand for three years without a problem but there was a 40kBaht limit per day. However, I think copying one of those is more difficult as you have to have the card to make the machine work.

My new SCB debit card has no reaised letters and the limit is 200k per day and any "merchant" can use it.

I will go in Monday and open a new account to harbor the majority of my 800k in with a link so I can do ATM transfers from harbor to the debit card account, keeping the max amount available at about a month's expenses.

Will also check with bank to see what protection I do have from unscrupulous merchant who may get a hold on my debit card number and use it without authorization.

[RDN]

If I were to use such a card it would be on another account with only funds I could afford to lose in it.

Very good idea lop. I thought many times about doing just that - having a credit card on an account with not too much in it - but never got around to it. But now, having moved to Phuket, I have a second Krung Thai account which has the majority of my cash in it and my original account in Bangkok I can use with the Visa card they gave me.

[KevinN]

To get the money in my SCB acct. I have to go up to the desk and tell them I want to make a transfer to my SCB passbook, Give them my US ATM/CHECK CARD,and my passbook,they then get on the phone and give some numbers to someone I guess and then take their  credit card machine and run off a receipt just like you get with a CC purchase,and on the receipt it says all the numbers,and 50,000 TBH, last week I did my regular transfer as I have said and the transfer cost me the regular 60 TBH fee and from my US ATM acct was a withdraw of $1240.45 for the 50,000,so not to bad on exchange rates. if you need anymore info feel free to email me or PM or what ever is easy for you.

Kevin,

Can you tell us the name of your

US Card issuer and do you

know what is the Maximum amount

you are allowed to withdraw to

deposit into your SCB Account?

Roger

Yes I can do that,,I have a golden years acct. Anyway they charge me nothing for the service[old fella ya know] so I get checks,cards and all for nothing and no use fee either. SCOTT VALLEY BANK, Yreka California. 96097

And I would imagine I can draw anything I have in my acct. as using the card is the same as writing a check. But I just make a monthly deposit and use for our expenses to satisfy immigration,always before I just used the ATM as there was no charge to me and I get good rates of exchange. I also pay my credit card payments from that acct.

They are just a small local bank up in the gold country of northern Calif. and they have a web site just add the WWW and the .com

[JimGant]

My US bank tried to replace my ATM card with their "Suntrust Check Card." I said 'no' (although I may now change my mind knowing I can use it to transfer money to my Thai bank).

As Lop says, there are added dangers with a debit/ATM (DATM) card vice a plain vanilla ATM. The main danger is that since it can act as a 'credit' card, i.e., no pin required, just sign the slip, if someone gets your number and makes fraudulent purchases, the money is, presto, gone from your bank. Sure, banks today advertise 'zero liability' with their DATMs; but do they restock your bank account right away -- or do you fiddle around for several months with an empty bank account? With a credit card, no cash flow occurs when fraud occurs. Plus, with a credit card, you've got added warranty on most purchases, maybe frequent flier miles, etc. And with me, since I pay my Visa in full every period, it's just the same as a debit card, except I get up to a 60 day 'float' (although at today's interest rates, no big deal). No, I turned down their offer, as I didn't need a second 'credit' card with added liabilities. I guess if I did change my mind, I would keep it locked up in my Thai house, using it only to transfer funds from the States. Day to day, I would get a Thai ATM (not DATM) to use.

Running Kevin's numbers, it appears he pays the standard 1% foreign exchange fee that most credit and ATM card financial institutions charge. But some credit card issuers of Visa/Mastercharge charge 3% (possibly more), as I found out the hard way. So, it would be wise to ask before getting your DATM just what the foreign exchange fee is. My Suntrust ATM is the standard 1% -- but possibly their new DATM with the Visa logo now charges more than 1%. I haven't asked yet.

Oh, even at 1%, you're still ahead of the cost curve if you annually send one or two large chunks of change to your Thai bank. But having said that, having the 'option' of using a DATM to reload your bank account, if needed, certainly does seem attractive.

[JimGant]

Pro,

Would Bangkok Bank have accepted a stateside debit/ATM card with the Visa logo to make cash transfers? I.e., the only reason you switched banks was because of the 40k limit on ATM transactions?

[KevinN]

My US bank tried to replace my ATM card with their "Suntrust Check Card." I said 'no' (although I may now change my mind knowing I can use it to transfer money to my Thai bank).

As Lop says, there are added dangers with a debit/ATM (DATM) card vice a plain vanilla ATM. The main danger is that since it can act as a 'credit' card, i.e., no pin required, just sign the slip, if someone gets your number and makes fraudulent purchases, the money is, presto, gone from your bank. Sure, banks today advertise 'zero liability' with their DATMs; but do they restock your bank account right away -- or do you fiddle around for several months with an empty bank account? With a credit card, no cash flow occurs when fraud occurs. Plus, with a credit card, you've got added warranty on most purchases, maybe frequent flier miles, etc. And with me, since I pay my Visa in full every period, it's just the same as a debit card, except I get up to a 60 day 'float' (although at today's interest rates, no big deal). No, I turned down their offer, as I didn't need a second 'credit' card with added liabilities. I guess if I did change my mind, I would keep it locked up in my Thai house, using it only to transfer funds from the States. Day to day, I would get a Thai ATM (not DATM) to use.

Running Kevin's numbers, it appears he pays the standard 1% foreign exchange fee that most credit and ATM card financial institutions charge. But some credit card issuers of Visa/Mastercharge charge 3% (possibly more), as I found out the hard way. So, it would be wise to ask before getting your DATM just what the foreign exchange fee is. My Suntrust ATM is the standard 1% -- but possibly their new DATM with the Visa logo now charges more than 1%. I haven't asked yet.

Oh, even at 1%, you're still ahead of the cost curve if you annually send one or two large chunks of change to your Thai bank. But having said that, having the 'option' of using a DATM to reload your bank account, if needed, certainly does seem attractive.

I really don't know how easy it would be for someone else to use my card, The bank knows me and always has to see my passport or my thai drivers license with my passport number before they will piss a drop on any transactions.

anyway going thru life worrying about what might happen just doesn't seem worth it to me. To many if's to even think about.And what I have seen on guarentees on stuff bought here I ain't to sure that your guarentee protection from your CC would do you much good here.

[ando]

A few days ago I posted that I had lost about 10% (17,000 baht+) on a telegraphic transfer from my bank here in Australia to My daughters account at the Krung Thai Bank in Thailand.

Well, I have done some detective work and heres the outcome.

1. $6,000 Australian was sent by my bank. The money was sent in Aus.$

My bank charged us an additional $30 for the service.

2. The money was not sent directly to the Krung Thai Bank, it was sent to my banks correspondent bank to be exchanged into Thai baht and transferred to the Krung Thai bank. The corespondent bank was the CITIBANK N.A. BANGKOK. I was able to confirm this by going to my bank and getting a copy of the transaction receipt from CITIBANK in Bangkok.

3. CITIBANK skimmed about 5% off the top by exchanging the $s at a very poor rate. The CITIBANK exchange rate given on that day was 26.76 baht to the Aussie dollar. By comparison, the Krung Thai bank was offering 28.1 baht to the Oz $ on that same day (7th June). So, thats 8,040 baht gone in a rip off exchange rate by CITIBANK.

By the way, Krung Thai Bank has a web page with exchange rates listed and an historic look up facility. CITIBANK BANGKOK has a web page but no exchange rates are listed.

4. Two days later on June 9th the money was deposited in the daughters Krung Thai bank account. 160,560 baht was transferred. The daughter claims only 150,300 baht went into her account. Which leaves 10,260 baht unaccounted for.

5. I expressed my concern over the missing money and requested that the daughter see the manager to sort it out. I also requested the bank managers phone number and a photocopy of the daughters bank book to confirm that only 150,300 was deposited.

6. Well, as you might have guessed, the missing money suddenly reappeared.

Out of the 160,560 baht transferred from CITIBANK 159,651 baht now appeared in my Thai step daughters bank account! That leaves only 909 baht unaccounted for now.

7. The daughter states the Krung Thai bank charges a standard 300 baht fee for accepting money transfers from other banks inside Thailand. So now we have got only 609 baht missing. And my guess is that the daughter has probably taken that as a commission, which is OK by me.

8. So, in the final analysis, we got about 9,000 of the missing 17,000 baht back.

I will never know for sure weather it was the daughter trying to rip us off for the 9,000 or someone in the Krung Thai bank, but I suspect it was the daughter.

Certainly we were ripped off by CITIBANK BANGKOK to the tune of 8,000 baht by way of a dreadfully low exchange rate which amounted to around 5% commission.

I will be going back through this thread and reading it very carefully to try to find a way of transferring direct to Krung Thai bank. In the meantime if any Aussies can recommend an Australian bank that does direct transfers to Krung Thai bank, I would appreciate the info.

[david96]

ANZ, Westpac, National and CBA transfer by TT direct to Thai banks.

Citibank and HSBC transfer to their Thai branch and then onward to your THAI bank. They then charge you an additional fee of 1000THB (HSBC) which is deducted from the amount you are sending.

Hope this is of some assistance.

http://www.westpac.com.au/internet/publish...erseas+payments

[JimGant]

I really don't know how easy it would be for someone else to use my card, The bank knows me and always has to see my passport or my thai drivers license with my passport number before they will piss a drop on any transactions.

A few years back, someone obtained my credit card number (a restaurant waiter? I don't know.) and made a duplicate card. I first learned of this when this phony was used in San Diego -- but I had used the real card in Virginia the same day. My card company caught the discrepancy, called me, then cancelled the phony charge and issued me a new card. Had this been a debit card, would my bank have put the stolen money back in my account -- or would I have to wait while matters took their course? And had this thief done his business in Virginia, and it was a debit card, I might not have known about it until my bank account was empty. With a credit card, at least your bank is not debited until you say so (either by monthly check or authorized direct debit).

Maybe I'm gun shy from this incident. But it seens safer to have separate ATM and credit cards (although maybe today there are safeguards in effect that would quickly restore your bank account after being fraudently debited. I don't know). However, the utility of transfering money from the States to Thailand with a debit card, as you do, has some real overriding attractiveness.

what I have seen on guarentees on stuff bought here I ain't to sure that your guarentee protection from your CC would do you much good here.

I would think my Visa credit card issued in the States would have all the guarantees for purchases in Thailand as in the US. And probably a Visa card issued by a Thai bank would too, since Visa has to stand behind the financial institutions it licenses. But I don't have any firsthand experience yet with Thai issued credit cards.

anyway going thru life worrying about what might happen just doesn't seem worth it to me.

Probably the bottom line. Life really is too short to worry about all the nitnoy crap that comes along.

[ando]

ANZ, Westpac, National and CBA transfer by TT direct to Thai banks.

Citibank and HSBC transfer to their Thai branch and then onward to your THAI bank. They then charge you an additional fee of 1000THB (HSBC) which is deducted from the amount you are sending.

Hope this is of some assistance.

Thanks for the info David 96.

But unfortunately, I think you might be wrong about Westpac.

I live in a small isolated town where the only physical banking is through either the post office or the Queensland Country Credit Union. I am with the QCCU.

The telegraphic transfer was done with QCCU. But the receipt from the CITIBANK in Bangkok came back with the name Westpac Banking Corperation on it.

I am not sure what the connection is between the Westpac bank and the QCCU, but seems that they were the company that actually sent the money to CITIBANK in Bangkok.

It wouldn't surprise me if Citibank hasn't got some kind of kick back arrangement going with the Australian banks to ensure they dont send the money direct to the Thai banks at the going rates.

I dont mean to criticize you since you went to the trouble of replying to my request, but are you sure the banks you mentioned send telegraphic transferors direct to the Thai banks?

[KevinN]

JG,, I never use the ATM with my US bank anymore, so will notify my bank about no transfers or uses anywhere but a transfer request by anyone but my SCB acct. they know me and so maybe will watch what goes on,they are very nice people and not a large bank with a lot of branches

I do use my US credit cards for some large purchases sometimes tho, but I have friends that come here to visit and they use my phone to call their CC companys cause they only get 1 purchase before they have to call and confirm they are in thailand.

[RDN]

I will be going back through this thread and reading it very carefully to try to find a way of transferring direct to Krung Thai bank. In the meantime if any Aussies can recommend an Australian bank that does direct transfers to Krung Thai bank, I would appreciate the info.

Try a SWIFT transfer to Krung Thai. The SWIFT code for Krung Thai is KRTHTHBK. Pay all charges at your (Aus.) end.

[Roger13]

3. CITIBANK skimmed about 5% off the top by exchanging the $s at a very poor rate. The CITIBANK exchange rate given on that day was 26.76 baht to the Aussie dollar. By comparison, the Krung Thai bank was offering 28.1 baht to the Oz $ on that same day (7th June). So, thats 8,040 baht gone in a rip off exchange rate by CITIBANK.

Hi ando,

Considering the amount, I would suggest that it is worth

taking up the matter with CITIBANK.

Mistakes do happen.

Maybe the clerk was chatting to her collegue about

what she did with her boyfiend the night before

and used the Austrian $ or New Zealand $ rate by mistake.

Or even last month's exchange rate list....

Roger

[Roger13]

I will be going back through this thread and reading it very carefully to try to find a way of transferring direct to Krung Thai bank. In the meantime if any Aussies can recommend an Australian bank that does direct transfers to Krung Thai bank, I would appreciate the info.

Hi ando,

You need to ask Krung Thai Bank for the name

of THEIR Correspondent Bank in Australia and if

convenient send the transfer from them.

Also you can ask Krung Thai Bank for the details

of their Australian Dollar account:

Name of Bank (and their SWIFT Code)

(for EXAMPLE National Australia Bank Limited in Melbourne)

The Name and Account number of Krung Thai Bank's

account (and their SWIFT Code)

(For example the name of the account might be:

Krung Thai Bank, Head Office, Bangkok

OR Krung Thai Bank, International Division, Bangkok)

and instruct your Australian Bankers to send the Australian

Dollars to that Account, for credit to their Branch

in xxxx, Thailand, for the Account

of Daughter (and her account number)

This should cut out CITIBANK.

Using the above EXAMPLE your instructions to your Australian Bankers

would look like this:

Please pay $6,000 (Six Thousand Australian Dollars) to:

National Australia Bank Limited, Melbourne (SWIFT Code - xxxxxx)

For the Account of Krung Thai Bank, International Division,

Bangkok (SWIFT Code xxxxxx)

Account Number xxxxxx (That is the Australian Dollar Account Number

of Krung Thai Bank in National Australia Bank Limited.)

Reference their xxxxx Branch, Thailand.

For account of Miss xx xxxx

Account Number xxxxxxx (of Miss xx xxxx)

***This of course can be applied to any Bank or Currency.

If for example you are sending Danish Kroner to Thai Farmers Bank

ask Thai Farmers for details of their Danish Kroner account

(which will be with a bank in Copenhagen)

This should result in the Thai Bank converting

the Foreign Currency into Thai Baht and should result in

a better rate of exchange

Roger

[ando]

A few days ago I posted that I had lost about 10% (17,000 baht+) on a telegraphic transfer from my bank here in Australia to My daughters account at the Krung Thai Bank in Thailand.

Well, I have done some detective work and heres the outcome.

1. $6,000 Australian was sent by my bank. The money was sent in Aus.$

My bank charged us an additional $30 for the service.

2. The money was not sent directly to the Krung Thai Bank, it was sent to my banks correspondent bank to be exchanged into Thai baht and transferred to the Krung Thai bank. The corespondent bank was the CITIBANK N.A. BANGKOK. I was able to confirm this by going to my bank and getting a copy of the transaction receipt from CITIBANK in Bangkok.

3. CITIBANK skimmed about 5% off the top by exchanging the $s at a very poor rate. The CITIBANK exchange rate given on that day was 26.76 baht to the Aussie dollar. By comparison, the Krung Thai bank was offering 28.1 baht to the Oz $ on that same day (7th June). So, thats 8,040 baht gone in a rip off exchange rate by CITIBANK.

By the way, Krung Thai Bank has a web page with exchange rates listed and an historic look up facility. CITIBANK BANGKOK has a web page but no exchange rates are listed.

4. Two days later on June 9th the money was deposited in the daughters Krung Thai bank account. 160,560 baht was transferred. The daughter claims only 150,300 baht went into her account. Which leaves 10,260 baht unaccounted for.

5. I expressed my concern over the missing money and requested that the daughter see the manager to sort it out. I also requested the bank managers phone number and a photocopy of the daughters bank book to confirm that only 150,300 was deposited.

6. Well, as you might have guessed, the missing money suddenly reappeared.

Out of the 160,560 baht transferred from CITIBANK 159,651 baht now appeared in my Thai step daughters bank account! That leaves only 909 baht unaccounted for now.

7. The daughter states the Krung Thai bank charges a standard 300 baht fee for accepting money transfers from other banks inside Thailand. So now we have got only 609 baht missing. And my guess is that the daughter has probably taken that as a commission, which is OK by me.

8. So, in the final analysis, we got about 9,000 of the missing 17,000 baht back.

I will never know for sure weather it was the daughter trying to rip us off for the 9,000 or someone in the Krung Thai bank, but I suspect it was the daughter.

Certainly we were ripped off by CITIBANK BANGKOK to the tune of 8,000 baht by way of a dreadfully low exchange rate which amounted to around 5% commission.

I will be going back through this thread and reading it very carefully to try to find a way of transferring direct to Krung Thai bank. In the meantime if any Aussies can recommend an Australian bank that does direct transfers to Krung Thai bank, I would appreciate the info.

Further investigation reveals I owe CITIBANK BK an apology here. They were not at fault. As near as I can figure they took only about 600 baht in charges.

My credit Union sent the money to Westpac who did the exchange from Australian dollars to Thai baht at 26.76 baht to the Aus $ (7th June) and then sent the money on to CITIBANK BK. The mid rate exchange rate for that day was around 28.5 baht to the Aus$.

My apologies to all for the misinformation. And thanks for your advice.