I am arranging an electronic transfer of money from my bank back home, it will be sent in Euros and converted to baht on arrival at my Bangkok Bank account, ive been looking at the Currency exchange rates at Bangkok bank, but I am a bit confused about the wording on the currency exchange rates page, I am trying to work out what my Euro will conver into when it arrives at Bangkok , on the exchange page it shows the following coloums ...

BUYING RATES - SELLING RATES- SIGHT BILL - TT- SELLING RATES / BILL/ DD-TT

for me to work out the baht rate that my euro should be converted to on arrival, which coloum should I look at...? and what do all the coulm's mean ....?

Thanks..... Razor

You should look at 'buy' as you are buying baht.

The "buying rates", you see on signs in the bank, apply to physical money notes exchanged at the counter. For electronic money the rate would be a bit higher (less work involved). There are several kinds of electronic money - the currency list in Bangkok Post mentions a few.

I don't know which - if any - applies directly to an ordinary transfer on behalf of an ordinary customer. Besides, you'll never be able to calculate an exact exchange rate beforehand - exchange rates are updated several times a day and you won't know excactly when your Euros change into Bahts.

However, in my early days in Thailand, I used my visacard (attached to an account in my homecountry) regularly to withdraw from ATM's. By carefully comparing the rates I saw in Bangkok Post an Thai Banks to the amount withdrawn from my account, I sort of figure that I can add 1-1.5% to the physical money rate, by using my visa card.

Nowadays, I regularly transfer foreign fund, by means of SWIFT. Here I sort of figure that I can add 2.5-3% to the physical buy rate.

A bit unprofessional, but it works as a rough estimate

The rates are indicated from the banks point of view.

In your case the bank is buying Euro and giving you Baht, so you should look at the buying rate for TT (Telegrafic Transfer), which currently is 46,66 on Bangkok Banks homepage.

But, as earlier mentioned, you should only take the rate as an indication. The rate will probably have changed by the time your money arrive.

Sophon

Thanks to all who posted, the info has now put me stright on just what to look at

thanks....