best ways to convert THB to AUD

[Liverpool Lou]

41 minutes ago, ezzra said:

All is well said and doable, the trick is to find a good exch. rates...

If you do go with converting that amount of cash, call or visit the exchange first, speak to the manager, you may find that the rate is flexible from the advertised rate.

[TroubleandGrumpy]

21 hours ago, Liverpool Lou said:

No, that is not "it". It depends on which bank is holding the funds.

 

Maybe you do not know what I am talking about - this is for yourself.

Deposit Protection Agency (DPA)

If you understood the banking system in Thailand and others around the world, you would know what I mean.

Thailand's banking system is not 1st world - only 3 banks have 'decent' international deposit acceptances (over a certain amount).

There are no Thai banks operating in any 1st world country - that I am aware of last time I read up on it.

 

 

[TroubleandGrumpy]

21 hours ago, Lemsta69 said:

 

2nd world is the Communist bloc. Thailand is far from that, despite its close ties with PRC.

Long way from being right - that statement.

[TroubleandGrumpy]

21 hours ago, Liverpool Lou said:

Do you know if they didn't?    It's only "one more" if you know that they did lose their money (that they were voluntarily giving to an employee in very dubious circumstances outside the bank's offices).  And that example of theft by an employee is nothing to do with "Thailand's banking system" or "compliance" as you assert.

Sorry mate, but you have no idea - see my last response and 'study up'.

 

[TroubleandGrumpy]

21 hours ago, Liverpool Lou said:

Again, that fraud from decades ago was nothing to do with "Thailand's banking system or "compliance".

You dontr listen.  When he went to court the bank was one of the parties 'against' him being given the property title back.  

[Liverpool Lou]

3 hours ago, TroubleandGrumpy said:

On 12/25/2023 at 12:42 PM, Liverpool Lou said:

No, that is not "it". It depends on which bank is holding the funds.

 

Maybe you do not know what I am talking about - this is for yourself.

Deposit Protection Agency (DPA)

I know exactly what the DPA is but you don't know that not every Thai bank has the B1m restriction.

[Liverpool Lou]

3 hours ago, TroubleandGrumpy said:

There are no Thai banks operating in any 1st world country -

Really?  You need to do some research.

[Liverpool Lou]

3 hours ago, TroubleandGrumpy said:

On 12/25/2023 at 12:47 PM, Liverpool Lou said:

Do you know if they didn't?    It's only "one more" if you know that they did lose their money (that they were voluntarily giving to an employee in very dubious circumstances outside the bank's offices).  And that example of theft by an employee is nothing to do with "Thailand's banking system" or "compliance" as you assert.

Expand  

Sorry mate, but you have no idea - see my last response and 'study up'.

You're claiming that none of them were reimbursed by the bank after the employee was jailed?

[Liverpool Lou]

3 hours ago, TroubleandGrumpy said:

On 12/25/2023 at 12:53 PM, Liverpool Lou said:

Again, that fraud from decades ago was nothing to do with "Thailand's banking system or "compliance".

You dontr listen.  When he went to court the bank was one of the parties 'against' him being given the property title back. 

You don't understand.  That was one incident involving just one bank, not "the Thai banking system", nor "compliance".

[Celsius]

You will lose thousadns of AUD there is no way around it because you will need to make around 10 separate transfers. No one will transfer this amount in thailand in one shot.

 

Super rich also has a transfer service like dee money. I would be exchanging money there. I bought 10,000 CAD recently and i simply scanbed the amoint via banking app.... no need to carry any cash.

[Mike Lister]

5 minutes ago, Celsius said:

You will lose thousadns of AUD there is no way around it because you will need to make around 10 separate transfers. No one will transfer this amount in thailand in one shot.

 

Super rich also has a transfer service like dee money. I would be exchanging money there. I bought 10,000 CAD recently and i simply scanbed the amoint via banking app.... no need to carry any cash.

The Thai banks will make that transfer in one shot, as long as there's a receipt that tax has been paid on the sale of the property (blue slip).

[Celsius]

46 minutes ago, Mike Lister said:

The Thai banks will make that transfer in one shot, as long as there's a receipt that tax has been paid on the sale of the property (blue slip).

 

Is this slip also required for Thai citizens?

 

My wife also sold a condo recently and is trying to transfer 3 million baht. Every single bank has told her there is a limit - either 500k baht or 1 million. 

[Mike Lister]

3 minutes ago, Celsius said:

 

Is this slip also required for Thai citizens?

 

My wife also sold a condo recently and is trying to transfer 3 million baht. Every single bank has told her there is a limit - either 500k baht or 1 million. 

Ah, don't know, it's a Land Office sales receipt showing tax paid.......she could try, I've moved 6 mill at one time using that.

[Tongjaw]

On 12/25/2023 at 12:05 PM, ezzra said:

Very soon I'll need to convert and T/T to Oz a very large sums of THB to AUD, the rate i get from my bank at the moment is an

abysmal one: 24.056 THB to 1 AUD, ( btw, converting the other way around will only get you 22 THB to 1 AUD, someone is making a killing here)

handling cash with places like super rich not feasible as the amount is too large to carry around,

which financial institution can give me a better rate?

OP, will the ATO here in Oz be looking for a cut? 
My wife just sold some land and would like to transfer the money down here as we live in Oz now. It’s half of what you’re looking to transfer but still a good amount. Like you we are looking at options for the best way getting it transferred. We spoke about a few trips up and down bringing in under 10k cash but it’s a lot of flying. 

[Tongjaw]

On 12/25/2023 at 12:05 PM, ezzra said:

Very soon I'll need to convert and T/T to Oz a very large sums of THB to AUD, the rate i get from my bank at the moment is an

abysmal one: 24.056 THB to 1 AUD, ( btw, converting the other way around will only get you 22 THB to 1 AUD, someone is making a killing here)

handling cash with places like super rich not feasible as the amount is too large to carry around,

which financial institution can give me a better rate?

OP, will the ATO here in Oz be looking for a cut? 
My wife just sold some land and would like to transfer the money down here as we live in Oz now. It’s half of what you’re looking to transfer but still a good amount. Like you we are looking at options for the best way getting it transferred. We spoke about a few trips up and down bringing in under 10k cash but it’s a lot of flying. 

[SportRider]

On 12/25/2023 at 4:05 AM, ezzra said:

Very soon I'll need to convert and T/T to Oz a very large sums of THB to AUD, the rate i get from my bank at the moment is an

abysmal one: 24.056 THB to 1 AUD, ( btw, converting the other way around will only get you 22 THB to 1 AUD, someone is making a killing here)

handling cash with places like super rich not feasible as the amount is too large to carry around,

which financial institution can give me a better rate?

I use a UK regulated currency broker for all major transactions...  You send them one currency and they send onwards the desired currency.  You can book the rate online or by phone (you get an assigned broker).  Excellent excellent rates I've saved thousands over the years.

Let me know if this is the kind of thing you're interested in, I'll pm you info.

[FritsSikkink]

5 hours ago, TroubleandGrumpy said:

There are no Thai banks operating in any 1st world country - that I am aware of last time I read up on it.

 

 

Nonsense, Bangkok Bank currently has the largest overseas branch network of any Thai bank with 32 international branches in 15 economies, including wholly owned subsidiaries in Malaysia and China. The international branch network is concentrated in Southeast Asia, China, Hong Kong, Taiwan and Japan; and the bank also has branches in London and New York. Bangkok Bank - Wikipedia

[natway09]

If you want to find out who the robbers are, try changing Thai Bht to AUD in Oz.

You will need to send by swift through a bank if over 5mil Bht in one hit &  some proof of how you have the Baht.

Ensure they remit AUD or the Auzzie bank will kill you with the rate they give as above.

For some reason Australian banks just discourage any dealings in Baht.

Same in NZ,  When I sent from NZ I ensured send in NZD. KTB gave me a pretty good rate for a TT.

The above comments we are talking about over 20% difference in some cases

[Iron Tongue]

Do you fly back and forth between LoS and OZ often?

 

Edited December 27, 2023 by Iron Tongue

[ezzra]

51 minutes ago, Iron Tongue said:

Do you fly back and forth between LoS and OZ often?

 

Do you think the custom in Oz will notice the extra bling-bling on  my neck?

[sidneybear]

On 12/25/2023 at 4:47 PM, ezzra said:

we're talking of an amount well in access of 10 mill thb, so think for yourself...

Taking 10 mil Baht in cash to Australia would need prior approval...

https://www.austrac.gov.au/individuals/moving-money-across-international-borders

 

[TroubleandGrumpy]

On 12/26/2023 at 1:35 PM, Liverpool Lou said:

I know exactly what the DPA is but you don't know that not every Thai bank has the B1m restriction.

It USED to be that the guarantee was 10 Million Baht, then 5 Million Baht, and then 1 Million Baht.  Look it up mate - do some research.

In the 1st world all funds are Govt Guaranteed in the full-licence Banks.

 

[TroubleandGrumpy]

On 12/26/2023 at 1:46 PM, Liverpool Lou said:

You don't understand.  That was one incident involving just one bank, not "the Thai banking system", nor "compliance".

Last reply mate - the bank refused to refund them becausae 'they did not do it' the employee did.

Thai bank refuses to compensate foreigner - Thailand News - Thailand News, Travel & Forum - ASEAN NOW

Bangkok Bank Will Not Payback Fraudulent Pos Transactions W/Stolen Atm Card - Jobs, Economy, Banking, Business, Investments - Thailand News, Travel & Forum - ASEAN NOW

There are many more but AN deleted posts including links from others - not sure of the list details.

[TroubleandGrumpy]

On 12/26/2023 at 3:54 PM, FritsSikkink said:

Nonsense, Bangkok Bank currently has the largest overseas branch network of any Thai bank with 32 international branches in 15 economies, including wholly owned subsidiaries in Malaysia and China. The international branch network is concentrated in Southeast Asia, China, Hong Kong, Taiwan and Japan; and the bank also has branches in London and New York. Bangkok Bank - Wikipedia

As far as I am aware they are all corporate banking - extremely restricted local licences to operate.

 

 

[FritsSikkink]

4 hours ago, TroubleandGrumpy said:

As far as I am aware they are all corporate banking - extremely restricted local licences to operate.

 

 

You weren't aware they had banks in 1st world countries, so that doesn't say much. Some prove for the restricted licenses please.

[TroubleandGrumpy]

23 minutes ago, FritsSikkink said:

You weren't aware they had banks in 1st world countries, so that doesn't say much. Some prove for the restricted licenses please.

ROFLOL - Your are serious arent you??  Go use Google young man - all will be revealed.  I aint your nurse or nanny.  Look at the Bangkok Bank website in USA - or any anywhere else.  Come back with proof if you find they have full unrestricted banking licences for residential banking business - offering accounts to US Citizens and all that.  If you do I will accept that and stand corrected. 

Now - did you read those articles in Asean Now. Did you Google the other websites for similar stories. I bet not. Prove me wrong. Tomorrow anytime is fine. 

[Liverpool Lou]

6 minutes ago, TroubleandGrumpy said:

34 minutes ago, FritsSikkink said:

You weren't aware they had banks in 1st world countries, so that doesn't say much. Some prove for the restricted licenses please.

ROFLOL - Your are serious arent you??  Go use Google young man - all will be revealed.  I aint your nurse or nanny.  Look at the Bangkok Bank website in USA - or any anywhere else.  Come back with proof if you find they have full unrestricted banking licences for residential banking business -

That's not what you asserted originally, this is what you claimed...

On 12/26/2023 at 3:54 PM, FritsSikkink said:

On 12/26/2023 at 9:58 AM, TroubleandGrumpy said:

There are no Thai banks operating in any 1st world country - that I am aware of last time I read up on it.

You posted that there are no Thai banks operating in any 1st world country .

There are.

[Liverpool Lou]

5 hours ago, TroubleandGrumpy said:

On 12/26/2023 at 1:35 PM, Liverpool Lou said:

I know exactly what the DPA is but you don't know that not every Thai bank has the B1m restriction.

It USED to be that the guarantee was 10 Million Baht, then 5 Million Baht, and then 1 Million Baht.  Look it up mate - do some research.

In the 1st world all funds are Govt Guaranteed in the full-licence Banks.

Look up this, "mate", there is a Thai bank, GSB, that guarantees all depositors funds, no limit.  Do some research.

 

In the 1st world all funds are Govt Guaranteed in the full-licence Banks.

Garbage.  There are no banks in, for example, the UK, US or EU that guarantee 100% of funds deposited in those area's banks, without an upper limit.  If you think that there are, there or anywhere else, specify them.  Do some research.

Edited December 27, 2023 by Liverpool Lou

[Liverpool Lou]

12 hours ago, sidneybear said:

Taking 10 mil Baht in cash to Australia would need prior approval...

https://www.austrac.gov.au/individuals/moving-money-across-international-borders

 

No, it does not need "approval", it just needs to be declared to ABP/Customs.

[sidneybear]

4 hours ago, Liverpool Lou said:

No, it does not need "approval", it just needs to be declared to ABP/Customs.

You are wrong, because cash over AUD 10k does indeed need approval, because it needs to be declared to Austrac (Australia's anti money laundering agency, not ABF) prior to travel. Travellers must complete a form and provide evidence to show the money comes from a legitimate source. Follow the link in my previous post.