Does anyone know if you get a better rate by transferring money into a bank in Thailand from the UK or better to bring pounds over? I'm thinking of coming over with just a few pounds then set up a bank account and get my bank to transfer more money over. Is this a good plan?[/quote
Obviously it depends on the amount of money you're talking about, but it will cost you about £22 (approx 1,320 Baht) every time your bank transfers money for you.
If if is security you are worried about, use Travel Cheques.
If you are looking at a series of small withdrawals, you could consider opening a Nationwide account and using your ATM whilst in Thailand.
Sarge, I assume you know the difference between the quoted 'x-rates' and Bangkok Bank 'buying' rates for notes ?
You quoting them in the same post just confuses matters.
The pound has strengthened against the Baht in the last 10 days or so.
No sj i dont all i am interested in is how many baht i get for one pound of my pension at the ATM and in what i quoted its 60.22 as oz confirmed
But if you can explain it please do only in laymans language that is easy to follow
sargeant wrote:
But if you can explain it please do only in laymans language that is easy to follow
Do you mean like this?
sargeant wrote:
Small problem your yesterday evening is a Saturday and just a tad wrong as spitfires today rate was Fridays rate explain please
Well I'll give it a shot
i think it can be explained by the fact the yesterday which has only been a saturday since today the rate quoted was the rate from the day before so it would be correct tomorrow ol course they could not post yesterdays prices as they would not be valid tomorrow
QX-Rates .com
friday19th rate = 62.3561
that makes sense if you subtract yesterdays rate from tomorrows rate you will get the difference between the xrated value and the exchange rate value the exchange rate value will be half way between the current value and next weeks value as it is now sunday it is next week already so it is easy to calculate fridays rate so that makes the bangkok rate spot on
Bangkok Bank online
friday19th rate Buying 60.22 ... Selling 61.91
as it is online it will already be quoting the tomorrow rate this means the bart went down against the pound yesterday but up from tomorrow i would think it will continue to go up until it reaches its highest level. that’s what normally happens. it will then go down until it reaches its lowest level.
I hope that clears things up.
PS In new zeeland its tomorow alreddy
I hope that hellpz
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Yes guess dont let them take your jacket off for a day or 2 ive got a headache and please make sure the straps are tight
Quote "that makes sense if you subtract yesterdays rate from tomorrows rate "
Maybe to you
SJ for the love of god help with some sane explanation
after i read that i am sorry but I asked on this topic for a link
you gave me one and so did Baba both which i use and all the time guess has one that can tell tommorrows rate and expects me to understand something ONLY he has and wont tell anybody
the fact is its the following that is BS That's actually a tiny lowering (4 satang) since yesterday evening based on a figure from friday given by spitfireat 9.54 am sun its the timing of the posts that begs the question
especially the Sun Sep 21, 2008 12:27 am Post
Thanks for that SJ Fed Bank and treasury dont seem to be any use to me
Let me explain I have had to up until my last visa renewal withdrawn my pension and put it in a bank account here by the 1st of the month and show my bank book to the immigration
This meant taking my pension on the 28/29/30th of the month no matter what the exchange rate was.
Last visa renewal they don’t want a bank account anymore so I only need to withdraw when I need it.
I now have online banking with the nationwide which means within 3 hours of withdrawing it I know exactly how many baht I have got to the pound.
Now I have 2 links from this thread thanks to SJ and Baa Baa which I check every day
What I am trying to find out is if I can maximize my money by being able to get some idea of the rate rising and when it falls to withdraw on the best terms at the best time
i am trying to understand a lot i know but its got to be simple im too old for convoluted complicated bs
sargeant wrote:...............What I am trying to find out is if I can maximize my money by being able to get some idea of the rate rising and when it falls to withdraw on the best terms at the best time..
If you check the Bank of New Zealand rate you will get tomorrow's rate today so when you see it drop then get your money quick because by the time it is tomorrow in the UK it will be too late. You can get round this problem by having a an account in Hawaii where you can draw your money yesterday before it drops to today's rate so long as you keep on eye on the NZ rate for tomorrow.
BTW, sometimes the BofNZ system is out due to volcanic activity so you have to get on to the the Bank of Fiji and just hope that there's no Rugby on TV.
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OK smartarse give me a link to the bank of new zealand how about nukualofa while you are at it or maybe samoa just in case they are war canoe racing or maybe papua new guinea unless they are out headhunting
you are certainly qualified for that halifax job richard enquired about
Let me expand on what i am looking for SJ and Baa Baa every morning i now check your 2 links and enter it on a spreadsheet. I used to get it from bloomberg and write it on a calender on my coffee table.
I have felt (note only felt) that at the end of the month the rate drops and i put that down to all the pensions being transfered and withdrawn over here . I accept that all the pensions are probably small beer in the big picture but lots of other transactions are done at the end of the month as well.
What i would like to find is a set of monthly graphs showing the rises and falls and see if there is an optimum time somewhere in the month where it would be higher so i can concentrate around that period rather than just surmising and withdrawing on speculation alone. I may be barking up a tree but i would like to know something more than i know now even if it is that i am doing it as well as i can
you guys are obviously better at finding this sort of information than me
I am not sure about the exchange rate with the Hawaiian Dollar but it will be on their web sit somewhere. While you're there check, out the sub prime offer on foreign house purchases. With a base plus .75% spot rate indemnity and tax deduction at source for pensioners it is a good deal. Fixed rate for 25 years too.
Don't forget there are just three kinds of people: those who can add up and those that can't.
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