sending oz pesos to thailand

[ghworker2010]

the rate to send Aud$ to thailand is terrible atm. The bank quoted 24.37 to tranfer $1

I spent ages reading about how analysts think that the AUD/USD will go south also even next year. This means that the AUD/THB will follow.

Even at the above bad exchange rate I think that I should send over a lump sum in case it does get worse...

what do you think?

[Robert24]

The rate is around 26.12 so your bank takes 170 bp margin which is daylight robbery. A reasonable margin would be around 80-90 basis points for smaller amounts and obviously for higher amounts less than that.

[AlexRRR]

Transfer in $AU let the Thai bank make the conversion the good old aussie banks exchange rates are below net advertised and then they charge you the privilege to on send it.

As for where the $ is going....the world is in the poo's id be more worried about one of the trusted super powers and there impending change of government even still a year or so off....there way to get your mind off your money and a sick economy is to get a few wars going...

[shaggy851]

Transfer in $AU let the Thai bank make the conversion the good old aussie banks exchange rates are below net advertised and then they charge you the privilege to on send it.

As for where the $ is going....the world is in the poo's id be more worried about one of the trusted super powers and there impending change of government even still a year or so off....there way to get your mind off your money and a sick economy is to get a few wars going...

Thats what i just did earlier this week. Did a wire transfer and let my thai bank do the conversion. The oz bank charged 32$ for the transfer through the branch its cheaper online about 20$. think i got abot 25 something baht to dollar letting thai bank do transfer and also charged 200 baht for doing this. Money was in thai account that evening. If you get an oz forex account i think you can get an even better exchange rate. Using western union they will give you only about 23baht to dollar and if its cash you can get charged 30-50 dollars extra plus another 10 if you use your card. Apparently the money exchange services at the airports despite being the most costly way to convert your aussie dollars, are actually quite reasonable if you use their website. The other way to avoid fees is just take cash over and exchange in person once in thailand. If you are sending to a specific person you can set them up in same bank as you and do global account transfers i think theres a certain bank that does good rates and fee free? that is in oz and bangkok at the suk/ asoke interchange.

[shaggy851]

Who knows what the thai baht will do. I would expect it to remain fairly steady but oz dollar probally south a bit more. Maybe well all convert our money to new zealand dollars! Why thai baht though might as well convert to us or singapore or similar. Buy a bunch of gold i reckon.