chelseafan Posted March 13, 2009 Report Share Posted March 13, 2009 Ck, ok understood. But that is not the tourist rate. Who do you bank with, I transferred some money in Feb and got 46 with Halifax...+£18 transfer fee Link to comment Share on other sites More sharing options...
ozpharlap Posted March 14, 2009 Report Share Posted March 14, 2009 I am not sure how you did your money transfer but one important tip, never have the bank change the money of your home country currency to Thai baht and then get them to undertake the money transfer in baht currency. Always send it to the person you are sending it to in your own countries currency, i.e. if in England send your money in English pounds to the intended recipient. Otherwise, you end up loosing another 2-5% of the amount of the money sent on top of the extortionate fee. Also, shop around; 18-pound fee seems a bit excessive. In Oz, I send money by ANZ bank at 32 $AUD (12 pound) and, if I do it on the net, it is only $20.00 AUD (8 pound). Link to comment Share on other sites More sharing options...
Ckrisg Posted March 14, 2009 Author Report Share Posted March 14, 2009 Normally send via The CoOp but this was urgent so sent via Western Union as my bank promises rapid transfer but takes a couple of days, with WA it was minutes but costed a whopping £37, I know never again Link to comment Share on other sites More sharing options...
drogon Posted March 14, 2009 Report Share Posted March 14, 2009 When I do a wire transfer to Thailand the lowest fee/commission I get is around 40 euros... The positive point, money is on the Thai bank account in 30 minutes, sometimes less and the exchange rate is the current one (on the Thai bank side) All in all, western union/moneygram are a scam, they charge high commissions and steal on the exchange rate. Link to comment Share on other sites More sharing options...
cavanami Posted March 14, 2009 Report Share Posted March 14, 2009 40 Euros...WOW, that is high! My Washington Mutual bank will transfer for free! Citibank, about $25 USD. Yes, Western Union is a bit of a rip off but I have used them in a pinch. Link to comment Share on other sites More sharing options...
drogon Posted March 14, 2009 Report Share Posted March 14, 2009 I used WU a lot too... The commission/fee might be explained by the fact that Spain (same kind of rates in France, Belgium etc...) doesn't have that many people sending money to Thai bank accounts, if you compare this to the big Thai community in the US/UK. The lowest commission I paid here for a wire transfer to my Thai bank account -> 35 euros for an amount of 500 euros. Link to comment Share on other sites More sharing options...
The_Munchmaster Posted March 14, 2009 Report Share Posted March 14, 2009 When I transfer from the UAE to my account with HSBC in Jersey I use a company called Al Rostamani Exchange (Thomas Cook). They charge Dhs 45 (~Euro 9) and the money is in my account in 2 days. I am however also charged ~Euro 8 by HSBC, for what I don't know. Total is 17 Euro. Link to comment Share on other sites More sharing options...
ozpharlap Posted March 14, 2009 Report Share Posted March 14, 2009 The bank I use here in Oz also gives you the 'it will take up to 2 days' warning but every time I have sent money it has always been in the Thai account in less then 30 minutes. WU in a pinch but their fee and rate does hurt the back pocket. Link to comment Share on other sites More sharing options...
chelseafan Posted March 15, 2009 Report Share Posted March 15, 2009 Yeah, I am aware that they take a cut at the other end too. Is there anyway to avoid this ? Link to comment Share on other sites More sharing options...
ozpharlap Posted March 15, 2009 Report Share Posted March 15, 2009 The only fee I pay is the transfer fee, as I said, $32AUD (at the bank) and as I also said, I send in Australian dollars and I confirm to the bank on every occasion that it must be sent in my own currency. I transfer to a Siam Commercial Bank, their fee to covert is no greater than approximately 320 baht (their exchange rate always seems to be good & if you access the link in a previous post, you know what it will be). Link to comment Share on other sites More sharing options...
Recommended Posts
Archived
This topic is now archived and is closed to further replies.