RIP Wayne Guest

[soihok]

To cut this short.

I am working in Malaysia and paid in Ringgit, I am sending money to Thailand for my family but am shocked at the very poor exchange rates given by my bank here (Maybank) when doing the telegraphic transfers.

To begin with, Malaysia doesn't export it's own currency, leaving the option of either exchanging into Baht here in Malaysia at the approximate rate of 10.7 Bhat to 1 Ringgit, or exchanging to another currency to send (again poor rates and will be hit by the receiving bank in Thailand through a further exchange into Baht).

The money changer on the street offers a better exchange rate but the money is required over there rather than here, plus you are only able to move the equivelent of 10K USD in cash out of the country, not that you want to do that anyway.

Considered Western Union or the such like, but again the rates are poor.

Any one found a better way around this?

I suppose it may work to send in say USD and then hope for a positive change in the exchange rate when the money is in the process of being wired / received, but this more like gambling.

Any intelligent advice is gratefully received.

[mccw]

Drive to Thailand?

[metisdead]

Please do not post same topics across multiple forums. As you have some replies in this topic:

This one is now closed.