2711 Posted May 11, 2009 Share Posted May 11, 2009 Help me figure this out! I am in U.S. and leave ATM card with wife in Thailand. She has allowence of 20,000 baht each month. Each month I check the exchange rates baht/dollar about 34b/$1. $688 American goes out to wife. It looks like about 2500 baht is unaccounted for- i.e.22,500baht apx is being withdrawn and/or taken in ATM fees. The exchange rate would have to be about 30baht/$1 for $688 equal about 20,000b. Of course their has been a higher ATM fee around but still the difference is about 2000 baht or more. Looks like bank exchage rates at ATM is too low. Wife told me this morning that the exchage right now is 31 baht/$1. I see over 34b/$1. The banks don't go that low on exchage rates,do they?????? Can that be true? Or is she still skimming $50-$60 from me? She was at Kaisicorn ATM. I know it's only about $60, but I need that $60 right now more than they do. I don't want to be wrong about my balance if I am wrong. How many American dollars has been equaling about 20,000 baht these months at ATMs? I might save the money if I do overseas bank transfers. I can't find the fee's involved in Thai banks. Does anybody know what the fee is in Thai banks for money transfers from U.S.? 2711 STILL CRAZY Link to comment Share on other sites More sharing options...
Nowhereman60 Posted May 11, 2009 Share Posted May 11, 2009 I don't think the Thai bank sets the atm rate. Your problem may be more with the wife that the exchange rate. The exchange rate is about 34.55 baht to the dollar now, not 31. I use Kaisicorn ATM also since they don't charge that new 150 baht international withdrawal fee. Link to comment Share on other sites More sharing options...
Guest Bellini Posted May 11, 2009 Share Posted May 11, 2009 ...Each month I check the exchange rates baht/dollar about 34b/$ ... Where do you check the rate? Link to comment Share on other sites More sharing options...
2711 Posted May 11, 2009 Author Share Posted May 11, 2009 The exchange rate in Bangkok Post is where I check the exchange rate. I noticed AYUDYHA has a website with the exchange rates posted. I will have to search Kasikorn(Farmers Bnak). Link to comment Share on other sites More sharing options...
basjke Posted May 12, 2009 Share Posted May 12, 2009 I assume that your credit card statement will show the actual exchange rate. Anyway it is around 34.50 at the moment but your credit card company may apply some fees. Link to comment Share on other sites More sharing options...
artbottomup Posted May 12, 2009 Share Posted May 12, 2009 I also use the Kasikorn ATM to withdraw monies through my credit union checking account since neither charges any fees. My 2 latest withdraws this week of 13,500 baht each resulted in an exchange rate of 34.91 baht per $US. On May 7th, I got an exchange rate of 35.11 baht. For some reason, my credit union account gives me a little better rate than my HSBC account so there are slight differences amongst banks & credit unions. However, getting only 30 baht or so at today's rates sounds too low, hence, I'd be a bit suspicious myself...good luck... Link to comment Share on other sites More sharing options...
theoldgit Posted May 12, 2009 Share Posted May 12, 2009 http://www.kasikornbank.com/portal/site/KB...00056f8f30aRCRD Your statement should also say how many Baht have been withdrawn. Link to comment Share on other sites More sharing options...
PeaceBlondie Posted May 12, 2009 Share Posted May 12, 2009 Used Kasinkorn last night. 34.91, no Thai ATM fee. My bank does not show forex rate; I do it myself. My bank adds US$5 fee Link to comment Share on other sites More sharing options...
CWMcMurray Posted May 12, 2009 Share Posted May 12, 2009 (edited) Not knowing anything about your wife other than this, I would say that she just checks the balance and takes out every penny it will let her. Due to the fact that her answer is that the exchange rate is 31 thb = 1 USD leads me to believe that she is being a bit dishonest about the whole thing because it seems that she has actually taken the time to do the math in order to decieve you. I would think if she was not trying to decieve you she would have just said she is not sure what is going on and that she is only taking 20,000 thb per month. I would say do the investigation with the bank to find out exact amount that is being withdrawn from the ATM. If she is not being truthful with you this is a good indication on what can be expected in the future. This may be a very cheap way to find out a bit about her personality and her values. Edited: Just saw that she is your wife... I would still do the investigation with the Bank, but I now hope that my suspisions are incorrect. Edited May 12, 2009 by CWMcMurray Link to comment Share on other sites More sharing options...
lopburi3 Posted May 12, 2009 Share Posted May 12, 2009 The exchange rate is set by the card system being used and has nothing to do with Thai banks or Thai rates. If your card is Visa based they have a website that will provide the exchange rate used. Thai banks charge .0025% for wire transfer fee in the range 200-500 baht but you are likely to find the fee to send will be too high for small amounts. Bangkok Bank allows ACH bank to bank transfers if you want to check that out - fee is quite low but she would have to have a Bangkok Bank account for you to use that system. Link to comment Share on other sites More sharing options...
2711 Posted May 12, 2009 Author Share Posted May 12, 2009 Thanks all for your inputs! Just talked to wife and she changed her story to "I know Kasikorn exchnge is 34.5and >" That was a quick change from yeterday,lol. I guess the Thai mostly have that drive to get amap... PEACE2711 Link to comment Share on other sites More sharing options...
PeaceBlondie Posted May 12, 2009 Share Posted May 12, 2009 Some folks cannot divide Link to comment Share on other sites More sharing options...
Guest Bellini Posted May 12, 2009 Share Posted May 12, 2009 Thanks all for your inputs! Just talked to wife and she changed her story to "I know Kasikorn exchnge is 34.5and >" That was a quick change from yeterday,lol. I guess the Thai mostly have that drive to get amap... PEACE2711 Perhaps your wife is reading this thread. Link to comment Share on other sites More sharing options...
2711 Posted May 12, 2009 Author Share Posted May 12, 2009 Thanks all for your inputs! Just talked to wife and she changed her story to "I know Kasikorn exchnge is 34.5and >" That was a quick change from yeterday,lol. I guess the Thai mostly have that drive to get amap... PEACE2711 Perhaps your wife is reading this thread. She tells me not to, why would she?? ! Link to comment Share on other sites More sharing options...
2711 Posted May 12, 2009 Author Share Posted May 12, 2009 The exchange rate is set by the card system being used and has nothing to do with Thai banks or Thai rates. If your card is Visa based they have a website that will provide the exchange rate used.Thai banks charge .0025% for wire transfer fee in the range 200-500 baht but you are likely to find the fee to send will be too high for small amounts. Bangkok Bank allows ACH bank to bank transfers if you want to check that out - fee is quite low but she would have to have a Bangkok Bank account for you to use that system. Thanks for this info... just checked visa card exchange rates on internet for $/baht.- Also the transfer fee is high on this side $35. 300-500 baht not bad on Thai end. Link to comment Share on other sites More sharing options...
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