Exchange Rates For A Large Amount

[zorro1]

Im about to TT a large amount of Australian dollars to the siam bank in BKK. is it possible to strike up a deal with the bank or do you just hope to get lucky with a good rate on the day??

Edited August 31, 2007 by zorro1

[v8tfcorty]

negotiable exchanges rates... i like the sound of that.... will keep an eye on this thread......

[binnsy]

Zorro,I guess that you will have to bring it over in cash if you want good rates

[zorro1]

You can get a better rate in oz if you ask as I have done it before. Dont know about here though. You cant take out more than 10k AUD. so cash not an option

[stoneman]

Im about to TT a large amount of Australian dollars to the siam bank in BKK. is it possible to strike up a deal with the bank or do you just hope to get lucky with a good rate on the day??

If your name is George Soros and talking millions, you got a chance...Otherwise not very likely...

[AlbertTatlockDeceased]

You can negotiate to some degree, depends on how much you want to bring in, but disregard the info on CASH if you want to bring it via a bank!

DO NOT BRING CASH..tel trans or wired money will get you a better rate at the bank.

Cash..look for Chinese/ Thai money changers...otherwise go for TT.

Be prepared to get your account locked if you transfer more than about 10K US - you need to explain the money, for laundering reasons...can be a pain in the arse, but just tell them you are buying a Merc. or something

[chiang mai]

I have negotiated a better rate with HSBC Bangkok when transferring GBP from Hong Kong. The banks will usually tell you that the rate is X but if you ask them to contact their Treasury Department on the date of transfer you will do better than X. From past experience the rates tend to be less favorable during the early part of each week (don't ask me why and I don't care to find out either) - would suggest that you take a look at the financial history of your currency against the Thai Baht, by day of the week on a site such as Oanda.

[LaoPo]

Im about to TT a large amount of Australian dollars to the siam bank in BKK. is it possible to strike up a deal with the bank or do you just hope to get lucky with a good rate on the day??

Ahead of the transfer I strongly suggest to talk to at least 3 banks...you will get and find a better deal with one of them.

LaoPo

[zorro1]

Im about to TT a large amount of Australian dollars to the siam bank in BKK. is it possible to strike up a deal with the bank or do you just hope to get lucky with a good rate on the day??

If your name is George Soros and talking millions, you got a chance...Otherwise not very likely...

I wish!! no just the sale of an average house in an average area in oz. But still just a a baht or 2 would make a difference. The banks make a commision so it must be negotiable

[Nickthegreek]

Hi,

*THE RATES ARE SUBJECT TO CHANGE WITHOUT PRIOR NOTICE

*FOR AMOUNT (T/T, D/D) OVER USD 50,000.-, PLEASE CALL TREASURY

DEPARTMENT TEL. 02-544-5700-14, 02-544-5741-45

*FOR BANK NOTES AMOUNT OVER USD 20,000.-, PLEASE CALL TEL. 02-544-3748-49

*FOR CREDIT CARD (CASH ADVANCE RATE) THIS RATE IS APPLICABLE FOR

CREDIT CARD ISSUE BY BANK OUTSIDE THAILAND

http://www.scb.co.th/html/exchange/bk-txtexchange.htm

Hope the link works.

this from there website.

[ratchabuild]

Im about to TT a large amount of Australian dollars to the siam bank in BKK. is it possible to strike up a deal with the bank or do you just hope to get lucky with a good rate on the day??

what are ozforex quoting

[tracer5050]

Trans $9900 carry $9900 may have to make more than one trip this way, I have never had worry LOL

[pgs]

I've usually found better rates changing it in LoS rather than in Oz.

Doesn't matter which exchange company or bank, the rates here (Sydney) are not good.

Last trip we saved $120 per $4000 exchanged changing it in BKK or Chiayaphum.

[Jimjim]

Send it in dollars and get it exchanged to baht by the Thai bank, for sure. That's just one aspect but you should get a better rate that way, as well.

[willi2006]

Look at www.moneycorp.com

[mikethevigoman]

Im about to TT a large amount of Australian dollars to the siam bank in BKK. is it possible to strike up a deal with the bank or do you just hope to get lucky with a good rate on the day??

Dont send it with paypal ! i just got 62.5 ! ( banks local 68.02 ) theiving b@stards

[soundman]

I transferred 200K Aussie in 2002. Spoke to banks at both ends & with that amount they just said "you get what you get on the day, talk to us if you are transferring $1mil+".

Soundman.

[technocracy]

I transferred 200K Aussie in 2002. Spoke to banks at both ends & with that amount they just said "you get what you get on the day, talk to us if you are transferring $1mil+".

Soundman.

Yep this is basically the case when you can negotiated rates big amounts - my bank in the IoM says they can offer better deals on any exchange over £250k (Nearly $600k AUD). But either way neither them or the rates quoted on xe.com get anywhere near to the figures on-shore in Thailand or Laos.

Just sent it as AUD and let them do the exchange on arrival at the bank.

[sonicdragon]

I transferred 200K Aussie in 2002. Spoke to banks at both ends & with that amount they just said "you get what you get on the day, talk to us if you are transferring $1mil+".

Soundman.

Yep this is basically the case when you can negotiated rates big amounts - my bank in the IoM says they can offer better deals on any exchange over £250k (Nearly $600k AUD). But either way neither them or the rates quoted on xe.com get anywhere near to the figures on-shore in Thailand or Laos.

Just sent it as AUD and let them do the exchange on arrival at the bank.

The Thai bank should call you prior to making the exchange to let you know the exchange rate and you have the opportunity to say that you don't agree and to ask for a better rate. I have done this on many occasions with some successes, but for most of this year I have been getting better rates than the banks offer by changing cash.

[soundman]

Yep this is basically the case when you can negotiated rates big amounts - my bank in the IoM says they can offer better deals on any exchange over £250k (Nearly $600k AUD). But either way neither them or the rates quoted on xe.com get anywhere near to the figures on-shore in Thailand or Laos.

Just sent it as AUD and let them do the exchange on arrival at the bank.

That is exactly what I found. The TT rate in Thailand was better than any rate offered on large conversions in Australia.

[Ricardo]

When changing £20k in cash at our local branch of SCB, we asked them to contact their Treasury-Dept. in Bangkok, who authorised them to offer us an extra 0.55 Baht per-Pound. But this was still only equivalent to the onshore rate, which we would have got anyway, making a TT-Transfer from overseas.

[rainman]

I wouldn't bring any large amounts unless absolutely necessary into Thailand at the moment. If you have to, contact your bank in Thailand to negotiate a better rate. I know Bangkok Bank offers better rates at 1M+.

[nam-thip]

A mate of mine who lives in Australia and visits Thailand asked me to check out the exchange rate for changing Aussie dollars into Thai baht.

I called into the Siam Commercial bank down Jomtien beach road and the lady at the money exchange desk quoted me 29.30 Thai baht to the Aussie dollar.

That was on Wednesday 26th September.

I have learned over the years and i don't know the reason for this but Xmas throught to New Year always pays the highest exchange rates.

Maybe its because the stock markets don't trade and money finds a better level when it's not interfeared with.

If you can hold out until Xmas then do so.

Failing that "yes" you do get a better rate for large ammounts.

The last (large) amount i exchanged i got 1.25 Baht over the advertised rate and when multiplied made a sizeble difference.