Answered4 years ago
Why was my money transfer to Phuket short by nearly 1000 Thai Baht?
Hi all.
I sent some money to a friend in Phuket from Australia. For some reason it was short nearly 1000 Thai Baht. Does anyone know why a fee may have been taken.
I sent some money to a friend in Phuket from Australia. For some reason it was short nearly 1000 Thai Baht. Does anyone know why a fee may have been taken.
Answer summary
The user experienced a shortfall of nearly 1000 Thai Baht when sending money from Australia to a friend in Phuket. The comments reveal several potential reasons for this discrepancy, including fees taken by the sending or receiving bank, unfavorable exchange rates, and the possibility of intermediary bank charges. Various transfer services like Wise and Western Union are suggested as alternatives to avoid excessive fees in future transactions.
48 repliesnewest first
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Garry *******
OPThanks everyone. Looks like I won't transfer through my bank. I'll give WISE ago.
Dar ***************
May I also ask? How long does it usually take for money from us be in a Thai bank account? Thank u! I see clothes and my customer sent me money through a western union app and it's been 24 hours already but no money has been deposited to my account
ศิริพร ***********
Wise good rate
Nate ******
Use wise.
VaiAna **********
International transfer fee is high if you sent from your bank . They're in the business to make money .
Sri **********
You pay money to somebody and we want to tell reason for spending 😀
Garry *******
OP@Sri *********
looking after a friend and having accommodation payed there as it's cheaper .
Steve ***********
International transaction fees are very expensive in Thailand
Anthony *********
How much did you send and what company/app did you send it through?
Anthony *********
@Garry ******
having lived here 8 years you always have to be on your guard I always count my change before whenever I pay for anything of if I take money from the branch, can't trust anyone here lolGarry *******
OPTheir telling my friend that they don't take out any fees
Anthony *********
@Garry ******
I would probably say that somewhere along the line, some fuckery has been afoot 😅Anthony *********
@Garry ******
the only things it could possibly be then could be fee for overseas transaction or currency conversion but surely that would be stated on the remittance slip when she took out the money.Other than that the other two options are that she has be accidently short changed or the person dealing with it stole it (this is obviously if it was withdrawn in branch and not atm)
Cant really think of anything else that it could be 🤷
Garry *******
OP@Anthony ********
thanks mate. Really disappointed that the money I send is short changed.Garry *******
OP@Anthony ********
I payed the $30 transfer fee at my bank.Garry *******
OP@Anthony ********
from my Suncorp account to the account in Thailand but both banks have said they did not take money out. Thought it might have been our government here but doesn't look like it.
Philip *********
use western union goid rates and very low fee.only few $$
Joey ***********
A friend sent me money by MoneyGram from US. The teller stole 2,000 THB from the actual amount. He asked me to sign a duplicate copy... but before I stood up to leave, I looked back and saw the right amount from the original copy which was 2,000 THB more.
Sri ***
Western union good for small money transfer, that is fast and you know how much recipient gets
Danny *******
When we all end up with central bank digital currency the banks will have a big windfall with fees and exchange rates
Mitchell *******
Could be the exchange rate. Could be bank taking its cut. And the bank WILL take its cut.
Eduard ****
Bank charges are normal for international bank transfers. Often are intermediary banks included which takes it. And rest is exchange rate
Garry *******
OPSuncorp
Glen ***********
Which bank 😂😂
I have found the NAB the best.
I have found the NAB the best.
Garry *******
OPThanks everyone. Maybe it's the exchange rate.
Nick **********
@Garry ******
Find the exact exchange rate for AUD (specifically the rate for telex transfer, not bills) on your friend's Thai bank website at the day and time slot in which it arrived. IF you relied on google for the exchange rate, then you have the wrong rate for your specific case for several reasons.
Todd *********
fees and exchange rate
John *************
Sounds about right, if you, the sender, told the bank to pay all fees, then 500 baht on each end is standard. As others have said, use Wise next time or Western Union.
Michael ********
@Steve *********
they had the monopolySteve **********
Steve **********
@John ************
NEVER western union
Ricky ******
@Steve *********
Why?Steve **********
@Ricky *****
It was the only means Immigrants, migrant workers, seasonal help , could send money back to Mexico from US, Pakistan from Saudi as 2 examples.Delays, ( kiteing ) fees ( unadv ) on both ends, fees to expedite, etc.
Same games Bank would use if ' unregulated ' as if that worked.
But glad the system has improved.
Michael ********
@Steve *********
Actually have you used them recently, just did job in Indonesia and my company had to send money out, the fees are a lot less than they used to be and was surprised how good the exchange rate was.3 years ago i would of been of the sane opinion as you, now no
Steve **********
@Michael *******
They were about to I guess, saw a special on the " game " with fees, exchange rates, etc. Was quite a con for generations.Michael ********
@Steve *********
yes compete or dieSteve **********
@Michael *******
No have had no experience eith them in 10 or so years.I guess to survive had to forgo the profiteering.
Steve *******
On international bank transfers both the sending and receiving bank can have fees.
If the transfer takes a few days the currency exchange may have been different between the banks too.
If the transfer takes a few days the currency exchange may have been different between the banks too.
Steve ********
You probably did a direct bank to bank transfer which are generally a total rip off. Learn from your mistake and next time use Wise to transfer money
Ben ******
@Steve *******
Yes.
Jeffrey ************
You might want to say what service you used/how it was sent....
Marc ********
@Av *********
It's only if you are the sender. Then you can chose to pay for all fees.
Av **********
@Marc *******
I've never been given that option at a Thai, American, Canadian khmer or portuguese bank. Always had to pay a receiving fee if it's old school bank transfer. Could be something new but I transfer old fashioned way all the time and the receiving account always has money withdrawn for receivingMarc ********
Av Giuliano Not if you chose the option "our cost"
Av **********
@Garry ******
normal, the receiver has to pay accepting feeeGarry *******
OP@Jeffrey ***********
sorry I didn't mention it. I transferred from my bank in Australia and paid the $30 fee. It was transferred to the Bank of Thailand but they have said they didn't take any money out.
Frank **********
Many transfer apps require some sort of fee. Also did you take into account the exchange rate.
Trudy *********
Did you use Wise?
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