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Why was my money transfer to Phuket short by nearly 1000 Thai Baht?

Money TransferInternational BankingTransfer FeesExchange RatesVisa RegulationsThailand Banking SystemExpats in ThailandWiseWestern Union
April 12, 2023
a year ago
Garry *******
ORIGINAL POSTER
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.
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TLDR : 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.
Garry *******
ORIGINAL POSTER
Thanks everyone. Looks like I won't transfer through my bank. I'll give WISE ago.
a year ago
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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
a year ago
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ศิริพร ***********
Wise good rate
a year ago
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Nate ******
Use wise.
a year ago
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VaiAna **********
International transfer fee is high if you sent from your bank . They're in the business to make money .
a year ago
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Sri **********
You pay money to somebody and we want to tell reason for spending 😀
a year ago
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Garry *******
ORIGINAL POSTER
@Sri *********
 looking after a friend and having accommodation payed there as it's cheaper .
a year ago
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Garry *******
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Steve ***********
International transaction fees are very expensive in Thailand
a year ago
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Anthony *********
How much did you send and what company/app did you send it through?
a year ago
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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 lol
a year ago
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Garry *******
ORIGINAL POSTER
Their telling my friend that they don't take out any fees
a year ago
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Anthony *********
@Garry ******
 I would probably say that somewhere along the line, some fuckery has been afoot 😅
a year ago
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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 🤷
a year ago
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Garry *******
ORIGINAL POSTER
@Anthony ********
 thanks mate. Really disappointed that the money I send is short changed.
a year ago
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Garry *******
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Garry *******
ORIGINAL POSTER
@Anthony ********
 I payed the $30 transfer fee at my bank.
a year ago
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Garry *******
ORIGINAL POSTER
@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.
a year ago
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Garry *******
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Philip *********
use western union goid rates and very low fee.only few $$
a year ago
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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.
a year ago
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Sri ***
Western union good for small money transfer, that is fast and you know how much recipient gets
a year ago
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Danny *******
When we all end up with central bank digital currency the banks will have a big windfall with fees and exchange rates
a year ago
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Mitchell *******
Could be the exchange rate. Could be bank taking its cut. And the bank WILL take its cut.
a year ago
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Eduard ****
Bank charges are normal for international bank transfers. Often are intermediary banks included which takes it. And rest is exchange rate
a year ago
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Garry *******
ORIGINAL POSTER
Suncorp
a year ago
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Glen ***********
Which bank 😂😂

I have found the NAB the best.
a year ago
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Garry *******
ORIGINAL POSTER
Thanks everyone. Maybe it's the exchange rate.
a year ago
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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.
a year ago
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Nick **********
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Todd *********
fees and exchange rate
a year ago
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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.
a year ago
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Michael ********
@Steve *********
 they had the monopoly
a year ago
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Steve **********
@Michael *******
 power corrupts, abso.............

Along those lines, eh.
a year ago
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Steve **********
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Steve **********
@John ************
 NEVER western union
a year ago
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Ricky ******
@Steve *********
 Why?
a year ago
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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.
a year ago
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Steve **********
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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
a year ago
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Steve **********
@Michael *******
 No have had no experience eith them in 10 or so years.

I guess to survive had to forgo the profiteering.
a year ago
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Michael ********
@Steve *********
 yes compete or die
a year ago
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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.
a year ago
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Steve **********
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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.
a year ago
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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
a year ago
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Ben ******
@Steve *******
 Yes.
a year ago
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Ben ******
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Jeffrey ************
You might want to say what service you used/how it was sent....
a year ago
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Marc ********
@Av *********
 It's only if you are the sender. Then you can chose to pay for all fees.
a year ago
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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 receiving
a year ago
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Marc ********
Av Giuliano Not if you chose the option "our cost"
a year ago
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Av **********
@Garry ******
 normal, the receiver has to pay accepting feee
a year ago
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Garry *******
ORIGINAL POSTER
@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.
a year ago
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Garry *******
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Frank **********
Many transfer apps require some sort of fee. Also did you take into account the exchange rate.
a year ago
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Trudy *********
Did you use Wise?
a year ago
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Trudy *********
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