Transfer money Singapore => HSBC

[Cloggie]

Would like to transfer money from HSBC Singapore => Krungsri Bank Thailand.

Before I transfer the money I hope somebody can help me with the following questions:

1) Is there 'best day' to do that regarding the exchange they use? Can't find the day anymore but I think i once read that Thursday is the best day (average)

2) for cost I can choose between: sender pay, receiver pay, split cost. It looks like it doesn't really matter what I use as I always pay about TB 2.600 per transfer which is a lot of money. Have transferred money now several times (did not write down when, stupid me).

3) As I have a US$ account and a TB account in Thailand, should I send over TH or US$ or where should the conversion take place?

Thanks for your help.

Edited September 15, 2014 by Cloggie

[cassde]

I understand you get a better exchange rate by sending US$ to Thailand rather than exchanging it to TB in Singapore.

[Cloggie]

I understand you get a better exchange rate by sending US$ to Thailand rather than exchanging it to TB in Singapore.

I think you are correct, found this later: "Banks here charge more to receive Baht than they do to receive foreign currency because they lose out on the profit of the exchange rate and need to make that up somehow. "