I use a Yahoo.com homepage to monitor the baht exchange rate, paying particular attention recently as I'm going to transfer money for a land purchase.Lately i've noticed that first thing in the morning (GMT) it's around 70, but every afternoon it's way down to 64/65.
The money will be drawn from an ATM using a nationwide flex account card.
Is anyone else watching the exchange rate and are they seeing the same daily fluctuation?
Does anyone know if cash is withdrawn, how does nationwide determine the exchange rate, real time the moment it was withdrawn or the rate at the end of the day?
Quite precise questions I know, but on the offchance someone here is in the same boat or had recent experience.
When you're transferring thousands, the exchange rate can make a difference. (or am i the tightest man on this forum?)


cheers

Nick

I don't know is the simple answer, however on our trip to the USA this month I used my Nationwide (VISA) Debit Card for cash withdrawals and my Nationwide (VISA) Credit Card for purchases throughout.

On reviewing my account, transactions made (and processed) on the same date had marginally different exchange rates applied throughout each date of the various transactions. I found this rather strange as one would expect that the exchange rate applied would be the average (or closing/opening) rate for that day. So it appears that the exchange rate fluctuates during the course of each day depending on the time of the payment being processed - the question is, when does the charge to the card get processed?

If your payment is being sent via SWIFT or similar, then I suggest the exchange rate applied will be that at the time the money is sent (if sending in BHT) or received by the receiving bank (if sending in GBP). When the bank send it could be several hours after you have made the request.

All guesswork it seems

The exchange rate for sure is not very good at present, down by about 10% on the relatively recent average exchange.

my wife had the same dilema recently we opted for swift transfer using nationwide the rate recieved was the onshore rate and not the offshore rate recieved with some credit cards .without a shadow of a doubt use swift transfer if you can.

x846nua,

Thanks for reassurance as I sent a biggy today by SWIFT(in baht) and agreed charges to me so hopefully my wife will get the full amount or are there any other nasties awaiting in LOS as it was not Bangkok Bank but Ayudhya Bank
colin 244

i believe you are in for a pleasent surprise no less than 69 onshore rate

x846nua,


colin 244