Mousehound Posted October 4, 2015 Share Posted October 4, 2015 I am returning to CM and ask if anyone has changed cash from Aus to Bht in the last day or so. The bank exchange reads just over 25Bht to the dollar but I expect that I would get less in CM when actually exchanging the cash. I can get 23Bht to the dollar in OZ from the Post Office. Link to comment Share on other sites More sharing options...
khwaibah Posted October 4, 2015 Share Posted October 4, 2015 The rates in Chiang Mai are the same as Bangkok. AUD at 25.55 but it can go up or down. Exchange goes active tomorrow morning. http://bankexchangerates.daytodaydata.net Link to comment Share on other sites More sharing options...
jimmym40 Posted October 4, 2015 Share Posted October 4, 2015 I'm sure you can definitely get a much better exchange rate here in CM. DON'T convert in OZ. Link to comment Share on other sites More sharing options...
Mousehound Posted October 4, 2015 Author Share Posted October 4, 2015 I am due to go on the OZ pension in the next few weeks. One little wrinkle is that DepEmployment site states that pensions can be paid to those eligible pensioners living overseas but that the pension will be paid in $US or the currency of the country the pensioner is living in. This would be a problem as I agree with Jimmym40 who posted above that monies are best sent in $A to Thailand and converted locally. Link to comment Share on other sites More sharing options...
evenstevens Posted October 4, 2015 Share Posted October 4, 2015 I am due to go on the OZ pension in the next few weeks. One little wrinkle is that DepEmployment site states that pensions can be paid to those eligible pensioners living overseas but that the pension will be paid in $US or the currency of the country the pensioner is living in. This would be a problem as I agree with Jimmym40 who posted above that monies are best sent in $A to Thailand and converted locally. cobber, do as c/link tells u as u will get a free t/f and a very good rate of exchange rates approx 1/3 BAHT to the A.U.D extra to bkk banks rate of the day been doing it for 14 yrs plus,trust me cobber a very nice evening to all Link to comment Share on other sites More sharing options...
fang37 Posted October 4, 2015 Share Posted October 4, 2015 Never change AUD into THB using an Aussie Bank. Bring your AUD into LOS via T/T. I have found BKK Bank VG & they telephoned me if the transfer was substantial. Then they offered a premium. Nowadays, there are some very competitive money-changers eg (SuperRich???) Link to comment Share on other sites More sharing options...
Lizard2010 Posted October 4, 2015 Share Posted October 4, 2015 I went on the pension 2 1/2 weeks ago I have money put into Citibank Then i draw out in Thailand TT rates from Bangkok Bank Not the buying Rates http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx If you have centrelink transfer to a Thai Bank in Baht a transfer amount will probably be taken out before you get it I can not clarify on this I was talking to another Oz fella the other day He has been her 7 years Still get his money in a Oz Bank Transfer only once every 3 months 1 Bank Transfer Amount to pay You do have options Up to you what you do Hope this is of help Link to comment Share on other sites More sharing options...
fang37 Posted October 4, 2015 Share Posted October 4, 2015 I'd love to be on the OAP. The Oz govt has made it quite difficult for expats. Go back to Oz for 2 years - stay at Vinnies or the Salvos. How does the average expat survive during his time of imprisonment? PO Oz! Link to comment Share on other sites More sharing options...
Iamemjay Posted October 4, 2015 Share Posted October 4, 2015 I've been living here for 9 years. Draw the pension. I maintain an Oz address and have it paid into my Oz bank. I have to go back at least once every 6 months, but I am committed to doing that anyway, and with forward planning and AirAsia fares the cost is neglible - even get the pension add-ons for the time I'm there plus 6 weeks. Periodically I make a bulk transfer using Bahtsmart and avoid the bank transfer fees. Works for me! Link to comment Share on other sites More sharing options...
Mousehound Posted October 5, 2015 Author Share Posted October 5, 2015 I'd love to be on the OAP. The Oz govt has made it quite difficult for expats. Go back to Oz for 2 years - stay at Vinnies or the Salvos. How does the average expat survive during his time of imprisonment? PO Oz! I know of one that came back for two years to qualify and stayed in a caravan as a sort of security guard for a local golf course. He got free lodgings in a nice environment - not a bad deal for a single bloke. Otherwise if I were on my own I would buy a van and tour around slowly - plenty of free stops if you hunt them down. Link to comment Share on other sites More sharing options...
Gonsalviz Posted October 5, 2015 Share Posted October 5, 2015 I use this: http://www.kasikornbank.com/EN/RatesAndFees/ForeignExchange/Pages/ForeignExchange.aspx Link to comment Share on other sites More sharing options...
Lizard2010 Posted October 5, 2015 Share Posted October 5, 2015 I use this: http://www.kasikornbank.com/EN/RatesAndFees/ForeignExchange/Pages/ForeignExchange.aspx Looks nearly same as Bangkok Bank http://www.bangkokbank.com/BangkokBank/WebServices/Rates/Pages/FX_Rates.aspx Have to remember than you only get the Buying Rates TT with Bank Transfer Plus the OZ rip off Bank Charge, depending on your bank This is where they make there money Still learning how it all works My Citibank is working fine for me so far Unless i can get a better rate with No Bank Charges or Fees at the Bangkok Bank Hopefully more suggestions will come forward Link to comment Share on other sites More sharing options...
Mousehound Posted October 5, 2015 Author Share Posted October 5, 2015 One thing I have noticed over my many trips to CM is that the exchange rate for Travellers Cheques - which I get free of charges in OZ are slightly higher than the exchange rate for cash. I can bring $10A in cash but prefer to use TC as I get the added security as well. This is the only country I have visited where the TC rate is better than cash. Link to comment Share on other sites More sharing options...
fang37 Posted October 5, 2015 Share Posted October 5, 2015 T/T in AUD is the only way to remit $$$. Safer - bigger chunks - superior FE rate. Link to comment Share on other sites More sharing options...
northernjohn Posted October 5, 2015 Share Posted October 5, 2015 I don't bring any cash with me except for some American money in case I want to travel. I have all my money deposited in Canadian and American bank and get it out by going to the local bank and using my Visa card I then go online and transfer it from my savings account to my Visa. Visa charges the going rate. Link to comment Share on other sites More sharing options...
fang37 Posted October 5, 2015 Share Posted October 5, 2015 Seems a lot of hard work to me. Link to comment Share on other sites More sharing options...
northernjohn Posted October 5, 2015 Share Posted October 5, 2015 Seems a lot of hard work to me.some of it does seem like a bit of effort needed. That is why I just use my Visa card once a month to get enough cash for the month. No need to hunt around for the best rates. Visa uses the current one. Link to comment Share on other sites More sharing options...
Sparkles Posted October 5, 2015 Share Posted October 5, 2015 My aged pension gets paid into a Credit Union savings account in Australia (far better than banks pays interest, no annual, visa card or hidden fee charges) I have their visa debit card.I withdraw each month by cash advance at Bangkok Bank,avoids ATM fees. Just need to provide passport when withdrawing and sign photo copy Get charged $5 at home for transfer. The exchange rate I am comfortable with and have internet banking to check all is ok. Many ways to do it ,its a personal choice. As we all know the $A has tanked and if not for the weak Thai baht it would be a large hole to be in 25.5b to the $A this morning was 32 not so long ago Obviously if you go back to oz for a holiday and bring cash,go to a money changer, its better but I am not in a financial situation to do that. Link to comment Share on other sites More sharing options...
Lizard2010 Posted October 5, 2015 Share Posted October 5, 2015 I don't bring any cash with me except for some American money in case I want to travel. I have all my money deposited in Canadian and American bank and get it out by going to the local bank and using my Visa card I then go online and transfer it from my savings account to my Visa. Visa charges the going rate. You are lucky we do not have any Thai Banks in OZ That is why my friend suggested Citibank Link to comment Share on other sites More sharing options...
northernjohn Posted October 5, 2015 Share Posted October 5, 2015 I don't bring any cash with me except for some American money in case I want to travel. I have all my money deposited in Canadian and American bank and get it out by going to the local bank and using my Visa card I then go online and transfer it from my savings account to my Visa. Visa charges the going rate. You are lucky we do not have any Thai Banks in OZ That is why my friend suggested Citibank We don't have any in Canada either. Most of my money goes into my Canadian bank. Interest is of no importance to me as I don't have a savings account there. My money is invested else where with power of attorney over it to my son if I pass away. Like Sparkles I have a debit card with them also a Visa card. In Canada they are separate. I just go to the bank of Siam where I have a Thai account give them my Visa card and get enough money for the month. My Siam account is in both are names in case I was to pass away she would have instant cash not a lot but enough to hold her until my Canadian money reached her. There is no fee what so ever from the bank being as I am over 60 Visa does charge me a $5 fee but I only have to use it once. Where as in the ATMs I would have to use it more than once to get enough for the month. I can't remember how I got the account with the Siam bank. I at one time had it only in my own name and then decided to add her to the account. I think it differs from branch to branch on how to get an account. Link to comment Share on other sites More sharing options...
jonwilly Posted October 6, 2015 Share Posted October 6, 2015 An old mate of mine of 40 years visits CM frequently, since his divorce. Of Scots extraction he is careful with his money. He tells me the best rate of exchange is at the Money Changer's located on Loy Khro road where the Old Bell was situated. john Link to comment Share on other sites More sharing options...
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