Spot rate/inter-rate for USD deposits to Bangkok Bank

[Enidx1]

Sorry there are other answers on this topic, but the situation is always changing. I spoke with 3 different reps from Bangkok Bank (in English) and asked "if I send a deposit, what conversion rate will they charge me?" All said that they would charge the spot price (what you get when you google USD to THB) plus 500 baht. However, none of the prior posts on this forum seem suggest that this is the case.

 

I can send money via THB at something close to the spot price. But if Bangkok Bank really doesn't skim anything for a USD deposit, that is much more attractive. 

 

Does anyone have experience with this? For example if the quoted spot price is 30.8THB per 1 USD, and I send 10 USD, will the bank deposit 308 baht?

 

Thanks for your help.

[topt]

What do you mean by spot price - mid market rate? You won't get that from a bank.

 

Most of the banks show their exchange rates online with often multiple changes per day. i used to look at SCB and somedays there would be 6 or more changes throughout the day. The rate you get depends on when they process the transfer into your account - not when it is received by the bank. 

 

On reasonable size transfers ($25k up.....) you can normally negotiate a few extra satang but this is with the forex dept at head office not the local branch. Individual branch reps/call centre cannot have any idea what rate you will receive as it changes multiple times per day and they don't know when the money will be received.

 

This is why many people have moved to using Transferwise or other FX companies where you know the amount in advance.

[topt]

3 minutes ago, topt said:

Most of the banks show their exchange rates online with often multiple changes per day.

Current Bangkok Bank rates - from Friday. You want the TT rate.

https://www.bangkokbank.com/en/Personal/Other-Services/View-Rates/Foreign-Exchange-Rates

[Enidx1]

Yes, mid-market rate. That is what they promised, but I am sure that they will not deliver. I sent a trail deposit. The problem with TransferWise is that there is a limit to what can be done.