Banks In Thailand

[petercallen]

I transferred a substantial amount of money from my Australian bank to my Thai bank on the 2/11/2011

On the understanding the exchange rate quoted by the bank manager is what i would get

When checking with my Thai bank if it has arrived they tell me it will be up to 5 days before its in my Thai bank account

My son who can transfer money for me Emailed me after he went to my bank in Australia and transferred the money

checking the Thai bank today they had not received the money and after talking to a representative

of my Thai bank i get a Phone call 30 minutes later telling me they do have the money

I was quoted a exchange rate of 32.7 baht per dollar on 2/11/2011 now the bank manager is quoting me

31.25 baht per dollar and saying my Australian bank did not transfer the money straight away which i

do not believe as the money is no longer in my Australian bank account as of 2/11/2011

Has any one else had a similar problem dealing with banks here

[Phuketscooter]

My way to transfer my money here, was to check out first witch bank that have the best rate. Then I talked to the manager and he told me they could give better rate if we where talking big money. more then one million Bath. Then she offered me different solutions and my way to do things now is to let the currency stay in original currency and with a card I can transfer in seconds what I need, or on any computer. Then you must remember that the government garanti is one million Bath, for every bank in Thailand.

[cdmtdm]

if u use Bangkok Bank its very fast for me sometimes overnight, i do it online from my Westpac acct ... i always transfer in Aussie dollars and convert here ....the rates quoted do not include the spread /commission usually half a point minimum... last week you could have achieved 32 net per 1 aussie dollar ....always transfer after the weekend not before otherwise your money is sitting on the forex market earning money for the banks ..

cheers

[barka]

In the past i have had this problem,but not now,i get an exchang rate from the bank,if i am not happy and they change there mind i leave the money in the bank in my currency[ [the pound] i then shop around for the best rates..

in all fairness my bank,, Bangkok bank, Phuket town,Chalong have always gave me the best rates,i have internet banking with them and i can also tranfer money back tothe U K....A lot of it here in Phuket depends on the manager and staff,and how you get onwith them,i have experienced problems with some of the banks here,especially one in Naiharn

[robanywhere]

wire transfer from the US by internet to SCB is usually within the day... I transfer in USD and is converted here.

[katabeachbum]

for transfers from other currecies, I have found Bank of Ayudhya to be superior to any other

I transfer in foreign currency, it arrives BKK within 48 hours, BKK calls and ask if I accept exchange rate, and funds visible a couple of hours later if I accept. Do I not accept, the funds can be on hold in foreign currency until exchange rate improves, visible online.

My experience is to stay away from branch managers, as they want a piece of the cake, IOW bad exchangerate

Be aware amounts above 700.000 baht are subject to laundry control, which can take up to 14 days

[Old Croc]

If the bank won't give you the rate they promised, hold it in aussie dollars until the rate improves again.

The Greeks are doing backflips about the proposed referendum and the Euro bailout may be back on. The AUD could be back up to where it was, in a day or so.

Edited November 4, 2011 by Old Croc

[petercallen]

I am holding the money in AUD at present until the exchange rate improves

I do not trust the bank manager, he changes his tune regularly, he should be a used car salesman not a bank manager

[snamos]

Always tell the banks in Australia not to do the currency conversion. just send it in aussie dollars. when it hits the Thai banks you get the daily price here...funny that we can't trust the banks in aus to do the right thing

[snamos]

On another note...have u seen what they charge to change money in aussie airports? its 25% more expensive... i went back one time and forgot my atm card. had 3000 baht on me and only got around 75 bucks for it.

[petercallen]

Always tell the banks in Australia not to do the currency conversion. just send it in aussie dollars. when it hits the Thai banks you get the daily price here...funny that we can't trust the banks in aus to do the right thing

I do trust my bank in Australia its my Thai bank that mucks me around

I always bring in Aussie dollars you get a better exchange rate here

[petercallen]

On another note...have u seen what they charge to change money in aussie airports? its 25% more expensive... i went back one time and forgot my atm card. had 3000 baht on me and only got around 75 bucks for it.

The last time i was in Perth Airport i told people changing money there to only change a small amount of money

You get a lot better exchange rate in Thailand and there is a lot more competition to change your money

The money changer in Perth city gives terrible exchange rates as well

[snamos]

On another note...have u seen what they charge to change money in aussie airports? its 25% more expensive... i went back one time and forgot my atm card. had 3000 baht on me and only got around 75 bucks for it.

The last time i was in Perth Airport i told people changing money there to only change a small amount of money

You get a lot better exchange rate in Thailand and there is a lot more competition to change your money

The money changer in Perth city gives terrible exchange rates as well

Yeah I was walking through Brisbane about 5 months ago when the AUD was worth 10% more than the $US, they were offering parity plus fees!!!! The Baht was about 25 to the dollar, thats 20% right there<< plus fees..I dont know how they justify it.

[snamos]

I tell all my mates the same Peter, Rule 1 is never ever change your money in Australia, Rule 2 is dont catch Tuk Tuks, Rule 3 if it looks to good to be true then its a bloke.....etc etc