Holding off transferring money for pick up hoping the ex rate will get better :-(

[Kenny202]

I need to transfer around 800k TB from Australia. I was disappointed when the baht dropped under $1:29 but the last week its gone south of 28 and stayed there. Someone told me somedays are better than others (Tuesdays and Wednesdays?)

Does anyone have any insight into what might happen in the next week or two? I know this is fortune telling stuff and if everyone

knew the answer we would all be rich but I mean should I hang off or bite the bullet now?

[David48]

I thought you were buying a pick-up?

thai-baht-aus-falling-everyday-anyone-have-an-insight-on-what-may-happen

[tw25rw]

According to the SMH, the $A will decline against $US. The THB seems to be stable, so you might have a long wait.

[FritsSikkink]

Nobody knows for certain.

[MrWorldwide]

According to the SMH, the $A will decline against $US. The THB seems to be stable, so you might have a long wait.

I'm inclined to agree - converted another 10K AUD @ 28.4 last week and I'm glad I did, but 800K is a considerably larger transaction. Some of the crystal balls in Australian newspapers had the AUDUSD in the mid 70 cents range by years end and I just dont see that happening for another 6 months at least. As with anything, monitor it daily and accept that hindsight is 20/20 but foresight is little more than blind faith. Doesnt take a genius to look at the graphs and predict more downward pressure on the Aussie dollar - it would definitely be welcomed by many Australian exporters.

http://www.xe.com/currencycharts/?from=AUD&to=USD&view=2Y

http://www.xe.com/currencycharts/?from=AUD&to=THB&view=2Y

[Kenny202]

That's what the tfer is for. A pick up

[Rooo]

Moved to banking.

[stament]

According to the SMH, the $A will decline against $US. The THB seems to be stable, so you might have a long wait.

What about the USD will that strengthen against the baht or weaken?

[Bluetongue]

The A$ has been steadily going down against the USD since September, it steadies for a week or two then falls again as it is this week (and last). The Baht is steadier and its falls against the USD are concurrent with, but much smaller than the Aussie. Until there is some news that will pick the Aussie up I expect it to continue to wallow on the downside as desired by the Reserve Bank. Which begs a question why the Reserve Bank claims that it leaves the Aussie to rise and fall on market forces and does not interfere yet makes continual statements calling for it to be lower especially since Abbott got in. Abbott also gave them a multi billion war chest when he got in presumably to try and force it down to keep his constituency happy ie a lower $A is good for big business and farmers because they end up being richer in $A terms. Forget the mug punters who want to consume cheap imports, or go overseas. Not saying who is right or wrong just how it appears to me.

Anyway OP it usually stays dormant on the high side over Christmas and the New Year although this year might be different.

[Paul944]

Try to find the rates for the last 10 years and see if there is any seasonal downs and up in those. If you can see them you get a hint of the most favorable time to exchange else it is just gambling.

You can also take the difficult route. Buy a pick up in Australia and import it in Thailand. As foreigner you are allowed to do that once I believe.

[Kenny202]

Ended up biting the bullet and doing the tfer this morning. What a drama that turned out to be! Went through Ozforex who at this stage appear to be awesome. Got a rate around 0.3 baht under the advertised rate. Everything was going fine until I went to tfer the money from my Australian Commonwealth bank account and got the security SMS thing. Problem is it appears my Australian Vodafone number is not working in the province I am in (Chaiyaphum). So I tries to call the bank in Australia on my Thai number (200 baht credit) and after 1 minute I am out of credit! So then I remember I have another Australian sim which has some credit remaining so back onto the bank for a heated discussion where they told me without me verifying the SMS they can only spot me $2000! Surely this must happen all the time to people travelling overseas?

So I'm well aware I am again eating my remaining credit at the rate of knots and getting nowhere and the woman says do you have another phone number? I said I only have my new Thai phone number. She says no problem I'll send your SMS there and we'll change it on our system. Now I understand they have their security procedures....but how ridiculous is that? Make such a big deal about me needing to receive their security SMS but they change my contact phone number on the say so of me on the other end of the phone and didn't even ask me to verify my identity on the telephone?

Anyway, got there in the end but they reckon bureaucracy in Thailand is crazy?

Edited December 3, 2014 by Kenny202

[Pib]

Can't understand why you say "they reckon bureaucracy in Thailand is crazy." Expect you should be blaming your Australian bank.

[Kenny202]

Can't understand why you say "they reckon bureaucracy in Thailand is crazy." Expect you should be blaming your Australian bank.

Oh I blame my Australian bank 100%. Was I not clear?

I hear many people on this forum talking about "Thainess" and issues with trying to get things done here.

I was making the point sometimes things at home worse. I was actually defending Thailand

[yankee99]

Try to find the rates for the last 10 years and see if there is any seasonal downs and up in those. If you can see them you get a hint of the most favorable time to exchange else it is just gambling.

You can also take the difficult route. Buy a pick up in Australia and import it in Thailand. As foreigner you are allowed to do that once I believe.

You can import but the taxes will be exorbitant

[BritManToo]

Can't understand why you say "they reckon bureaucracy in Thailand is crazy." Expect you should be blaming your Australian bank.

Oh I blame my Australian bank 100%. Was I not clear?

I hear many people on this forum talking about "Thainess" and issues with trying to get things done here.

I was making the point sometimes things at home worse. I was actually defending Thailand

A bit off topic,

My bank in the UK phoned me up once, "First we have to check your identity",

I said, "You phoned me"

They said, "We need the second letter of your password"

I said, "How do I know you are my bank?"

It went on like that for a while ..........

[Kenny202]

Can't understand why you say "they reckon bureaucracy in Thailand is crazy." Expect you should be blaming your Australian bank.

Oh I blame my Australian bank 100%. Was I not clear?

I hear many people on this forum talking about "Thainess" and issues with trying to get things done here.

I was making the point sometimes things at home worse. I was actually defending Thailand

A bit off topic,

My bank in the UK phoned me up once, "First we have to check your identity",

I said, "You phoned me"

They said, "We need the second letter of your password"

I said, "How do I know you are my bank?"

It went on like that for a while ..........

Classic :-) It really is that silly. I mean you log onto your internet banking with username and password surely thats enough

or maybe they could give you the option of transferring at your own risk without SMS.

Unfortunately as my Australian Sim / Provider doesn't seem to be working here I couldn't even receive a phone call

[Kenny202]

Try to find the rates for the last 10 years and see if there is any seasonal downs and up in those. If you can see them you get a hint of the most favorable time to exchange else it is just gambling.

You can also take the difficult route. Buy a pick up in Australia and import it in Thailand. As foreigner you are allowed to do that once I believe.

You can import but the taxes will be exorbitant

I have heard so much mis information on this subject on many forums. I'm guessing well meaning people who unfortunately don't have a clue. I was advised by at least 3 or 4 people that as I had an O/A visa it entitled me to import personal belongings tax / duty free for up to 6 months after I moved here. I saw someone advising a similar thing again the other night. 100% not true I find out now after organising my shipment. Only applies to people with a work permit. Cars particularly attract huge duties. Really better not to say if you're not sure as it good result in some poor bugger up for an extra 10's of thousands of dollars duties they never planned on

Edited December 3, 2014 by Kenny202

[BritManToo]

Can't understand why you say "they reckon bureaucracy in Thailand is crazy." Expect you should be blaming your Australian bank.

Oh I blame my Australian bank 100%. Was I not clear?

I hear many people on this forum talking about "Thainess" and issues with trying to get things done here.

I was making the point sometimes things at home worse. I was actually defending Thailand

A bit off topic,

My bank in the UK phoned me up once, "First we have to check your identity",

I said, "You phoned me"

They said, "We need the second letter of your password"

I said, "How do I know you are my bank?"

It went on like that for a while ..........

Classic :-) It really is that silly. I mean you log onto your internet banking with username and password surely thats enough

or maybe they could give you the option of transferring at your own risk without SMS.

Unfortunately as my Australian Sim / Provider doesn't seem to be working here I couldn't even receive a phone call

Not any more,

I need a little keygen device (only available in the UK) to log into the internet account now.

Or an app for my smart phone (only available in the UK).

So I no longer have any access to my bank account.

I now have to use a third party FX firm and my bank debit card to transfer money from the UK to Thailand.

[Kenny202]

I think a lot of this has to do with countries not wanting you to invest your money in that country and live in another country.

I have the bulk of my money invested back home at a reasonably good rate and not fixed either...around 4.2%

I asked them before I moved here if I could opt to receive an email instead of an SMS. No, no and no. They out and out told me they weren't interested in people living overseas investing in their bank

I guess somehow it makes sense. The loan rates and investment rates in Australia are a lot higher than most countries.

I still don't see how its any skin off my Australian banks nose though

[David48]

Try to find the rates for the last 10 years and see if there is any seasonal downs and up in those. If you can see them you get a hint of the most favorable time to exchange else it is just gambling.

You can also take the difficult route. Buy a pick up in Australia and import it in Thailand. As foreigner you are allowed to do that once I believe.

You can import but the taxes will be exorbitant

... and who's going to buy an Australian Truck in Thailand for anywhere near a Thai truck of a similar age and condition.

[David48]

Oh I blame my Australian bank 100%. Was I not clear?

Classic :-) It really is that silly. I mean you log onto your internet banking with username and password surely thats enough

or maybe they could give you the option of transferring at your own risk without SMS.

Unfortunately as my Australian Sim / Provider doesn't seem to be working here I couldn't even receive a phone call

Kenny, Kenny, Kenny ...don't blame the banks ... look at yourself instead.

Surprise, Surprise that your Australian SIM doesn't work in Thailand ...

When you register your Mobile for the SMS confirmation, they only allow you to enter an Australian number.

I transfer money all the time through the CommBank NetBank system ... you just have to change the permission identification.

Personally, I'm happy with the security protocols that a Bank has in place to safeguard your and my money.

Sure, when you forget or don't understand the system, it may come across as frustrating ... but look at what you are doing wrong ... not what you think the Bank is doing.

A tip for you ... if you want to phone Australia, buy a phone card, cheap and easy to use

[Will27]

Oh I blame my Australian bank 100%. Was I not clear?

Classic :-) It really is that silly. I mean you log onto your internet banking with username and password surely thats enough

or maybe they could give you the option of transferring at your own risk without SMS.

Unfortunately as my Australian Sim / Provider doesn't seem to be working here I couldn't even receive a phone call

Kenny, Kenny, Kenny ...don't blame the banks ... look at yourself instead.

Surprise, Surprise that your Australian SIM doesn't work in Thailand ...

When you register your Mobile for the SMS confirmation, they only allow you to enter an Australian number.

I transfer money all the time through the CommBank NetBank system ... you just have to change the permission identification.

Personally, I'm happy with the security protocols that a Bank has in place to safeguard your and my money.

Sure, when you forget or don't understand the system, it may come across as frustrating ... but look at what you are doing wrong ... not what you think the Bank is doing.

A tip for you ... if you want to phone Australia, buy a phone card, cheap and easy to use

I use a Skype subscription for calling back home.

Unlimited time and calls to landlines for $5.00 per month.

[MrWorldwide]

After watching the exchange rate fall further yesterday I converted another 10K from AUD FCD account to baht - again, hindsight is 20/20 but I did wish I'd acted 2 weeks ago. Inevitably, the Aussie will spike today, but I made my decision and I'll just have to live with it - some folks are much worse off than Aussies in Thailand. Not thrilled with Abbott's efforts, but at least Oz still has a currency worth printing.

[Kenny202]

Oh I blame my Australian bank 100%. Was I not clear?

Classic :-) It really is that silly. I mean you log onto your internet banking with username and password surely thats enough

or maybe they could give you the option of transferring at your own risk without SMS.

Unfortunately as my Australian Sim / Provider doesn't seem to be working here I couldn't even receive a phone call

Kenny, Kenny, Kenny ...don't blame the banks ... look at yourself instead.

Surprise, Surprise that your Australian SIM doesn't work in Thailand ...

When you register your Mobile for the SMS confirmation, they only allow you to enter an Australian number.

I transfer money all the time through the CommBank NetBank system ... you just have to change the permission identification.

Personally, I'm happy with the security protocols that a Bank has in place to safeguard your and my money.

Sure, when you forget or don't understand the system, it may come across as frustrating ... but look at what you are doing wrong ... not what you think the Bank is doing.

A tip for you ... if you want to phone Australia, buy a phone card, cheap and easy to use

I use a Skype subscription for calling back home.

Unlimited time and calls to landlines for $5.00 per month.

Thanks mate. That's great constructive advice from which I am sure many will benefit ! as opposed to a patronising, assuming, incorrect and uninformed lecture of which I can't even be bothered responding or correcting.

Edited December 4, 2014 by Kenny202

[David48]

Why do people always seem to 'blame the system' when the fault lies with them?

But won't admit it.

[Naam]

After watching the exchange rate fall further yesterday I converted another 10K from AUD FCD account to baht - again, hindsight is 20/20 but I did wish I'd acted 2 weeks ago. Inevitably, the Aussie will spike today, but I made my decision and I'll just have to live with it - some folks are much worse off than Aussies in Thailand. Not thrilled with Abbott's efforts, but at least Oz still has a currency worth printing.

there was indeed a teenie weenie tiny spike but down since you transferred

[Kenny202]

Why do people always seem to 'blame the system' when the fault lies with them?

But won't admit it.

Hahaha. It's amazing. Must keep you up at night pondering the crazy

ways of the world. Hahaha

[David48]

Why do people always seem to 'blame the system' when the fault lies with them?

But won't admit it.

Hahaha. It's amazing. Must keep you up at night pondering the crazy

ways of the world. Hahaha

No Kenny.

I'm just a logical person.

When I find something that does work ... I try and discover a way to fix it.

What amazes me is that I've told you that I've had the same issues as you, I've solved the problem.

Regularly I transfer Money, in and out of my CommSec Account, add new Biller for BPay etc ... all while in Thailand, you haven't been bothered to ask how?

You just seem to prefer to yell at the world that they have it wrong.

Like when you complained that the Australian Mobile Phone company Vodafone didn't have coverage in Thailand ...

Doing some online banking this morning and had to receive the security SMS code and to my horror had no phone service and nearly caused me a major drama with my bank transfer.

I am in Chaiypum province out of town but also no service in town today. Am I doing something wrong or they told m a pack of crap when they said they had coverage in Thailand?

I even took the time to respond with an answer "Before you left Australia, did you enable global roaming?".

For that thread ... I was the only person to reply.

People are trying to help you.

You see Kenny, sometimes it's you ...

.

Edited December 4, 2014 by David48

[simple1]

I have heard so much mis information on this subject on many forums. I'm guessing well meaning people who unfortunately don't have a clue. I was advised by at least 3 or 4 people that as I had an O/A visa it entitled me to import personal belongings tax / duty free for up to 6 months after I moved here. I saw someone advising a similar thing again the other night. 100% not true I find out now after organising my shipment. Only applies to people with a work permit. Cars particularly attract huge duties. Really better not to say if you're not sure as it good result in some poor bugger up for an extra 10's of thousands of dollars duties they never planned on

In case anyone reads the above post the correct info concerning importing personal goods is easily available in English via a simple Google search from the Thai Customs website.

http://www.customs.go.th/wps/wcm/connect/custen/individuals/importing+used+or+secondhand+household+effects/importingusedsecondhandhouseholdeffects+

Edited December 4, 2014 by simple1

[Kenny202]

David, you were not trying to help nor was your reply factual nor did you understand my point.

Your response was a negative, smug lecture as if your opinion and interpretation of my post was the

final word. You have assumed many things and made many un factual statements. You also use the

word "we" a lot as if you speak for the whole forum.

Fact....

Vodafone do have coverage in Thailand....some of Thailand but not where I am. Telstra do no

problem. No big deal.

Fact....Commonwealth bank will send an SMS to an international number. I know this

because I have spoken to them. My point was they have all this security in place based on

sending an SMS......when all you have to do to get around that is ring up (anonomously) and

tell them you have a different number (international or otherwise) and they will send the SMS

there. Kind of defeats the purpose?

You have assumed I am too stupid to have discussed these matters with the bank?

You have assumed I am too stupid to have enabled global roaming or can't use a

mobile phone?

What I did was describe a frustrating situation I had yesterday. Having travelled the world a situation

I have come across many times. I find it annoying that the Bank seems to hinge everything on receiving

a security SMS when there are so many places in the world where phone reception is a problem. And a

mobile phone is a secure device? Most other organisations in the world are happy to send to a verified

email address. (Paypal). And yes I have sorted the Comm Bank. I have another bank that does refuse to

send their security SMS to international numbers. If you are happy with all this great. There are many who

aren't and wish there was an alternate. And for your information normally to change security permissions

on your bank details you need an SMS security code first. I was lucky yesterday they would change my

details over the phone. Reason I didn't change it before I left Australia was because I didn't at that stage

have a Thai number and I thought my Vodafone Australian number would suffice. Calls overseas are expensive

particularly waiting online 15 minutes to speak to a bank. The other posters info on using a Skype account was

priceless and sure will benefit many people. Unlike your self serving diatribe (you can google that) on how smart

and logical you are.

The only couple of useful things you mention aren't backed up with any fact?

Surprise, Surprise that your Australian SIM doesn't work in Thailand ...Whats that supposed to mean?

A tip for you ... if you want to phone Australia, buy a phone card, cheap and easy to use....Whats a "phone card"?

Buy from who? Sorry but clearly not as smart as you

The problem with people like you is that you come in and hijack a topic with negative attacks on

a genuine post that had many helpful and genuine replies. You may note many have had the same

frustrations. People like you turn the issue into a smarty pants debate on the price of fish. Normally I

wouldn't bother with someone like you but meh....so happens I have some time on my hands this

morning.