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Post by Denis-NFA on Oct 25, 2019 21:45:56 GMT 7
This is a question for UP Pensioners who have arranged with C/Link to have your pension paid into your Overseas Bank Account.
Does anyone know if C/Link via the Reserve Bank of Australia transfer Australian Dollars to our in country Local Bank or if they transfer the Local Currency?
Thanks.
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Post by Deleted on Oct 26, 2019 4:32:06 GMT 7
Denis-NFA I don't have money paid into an.overseas account as yet. Below is the advice from our paymasters..... I've been aware of the info for quite sometime and the highlighted text is something I can't quite reconcile myself with; especially in relation to the Reserve Bank of Australia paying out in U.S. dollars. Cheers bear  Overseas accountIf your payment goes into an overseas account, we’ll pay you in the local currency or US dollars, depending on the country you’re in.
The payment conversion is organised by the Reserve Bank of Australia using the exchange rate at the time the payment's issued. In most cases the money will reach your account 2 to 6 days after it’s issued. You’ll have to pay any fees or bank charges to access your funds while you’re outside Australia. Use our international bank account forms to notify us of your overseas account. www.humanservices.gov.au/individuals/topics/payments-while-outside-australia/31226
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Post by Banjo on Oct 26, 2019 7:23:51 GMT 7
I think they mean that the local bank will pay you in local currency after receiving your payment in AUD.
I'd not thought of the USD claim but it sounds logical for countries like Laos and Cambodia where USD accounts are offered by most banks.
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Post by Deleted on Oct 26, 2019 7:47:35 GMT 7
I think they mean that the local bank will pay you in local currency after receiving your payment in AUD. I'd not thought of the USD claim but it sounds logical for countries like Laos and Cambodia where USD accounts are offered by most banks. Vietnam as well....had to get USD from Oz bank to pay for visa on arrival. It's seemed ambiguous is all, like all government form questions and most other things connected with them; but I take your point Banjo . In the halls of government, they do so love to obfuscate! Cheers bear |
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Post by Denis-NFA on Oct 26, 2019 15:55:15 GMT 7
Banjo, bearI always interpreted that statement as the Reserve Bank doing the conversion to my local currency and sending that amount to my Philippine bank, which also offers US$ Accounts but you have to maintain minimum of US$500. What prompted me to raise this follows on from our Passport renewal fees discussion and I don't know what they do in Thailand but at the Oz Embassy in Manila they will only accept local currency at a fixed exchange rate for month of October of AUD$1 = 35.5PhP which was the same in September. I got paid on 1/10/2019 at 34.9PhP and I'm damn sure I wont get paid over that next Tuesday 29th and could be less! I'll ask my bank in Carcar next week.
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Post by nomadic on Oct 27, 2019 7:55:30 GMT 7
Yes, when you go to Laos or Cambodia and you have Kip Or Riel leftover, change it before you leave if you don't want it because you can't change it back to the U.S. or even Thai baht in other countries. No one wants it, it seems. Often see requests for backpackers to sell it to others who are heading there. Not sure of dong though. Yes, visa for both is requested to be paid at the border in US$ also although I once paid in A$ and got a better deal. But next time they wouldn't take A$. Heading to Burma on a visa run? Take a US$10.00 note because if no US$ they want 500 baht which is almost double. All off-topic and I also would like to know how much baht would turn up in my account here if I had it put into it. Maybe the best rate or maybe the worst? So a good question.
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Post by Deleted on Oct 27, 2019 9:54:41 GMT 7
Ditto nomadic . Bht 35,360 @ 20.38, which was Friday transfer's mid rate. Also interesting, your last reported in country exchange rate was less than my transfer rate which was done about the same time. The official full rate for today; Bht 20.58 would see you receive about Bht 350 extra. Cheers bear |
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Post by Denis-NFA on Oct 27, 2019 15:54:37 GMT 7
bear, nomadicThe official published Reserve Bank of Australia exchange rates are published here rba.gov.au/statistics/frequency/exchange-rates.htmlYour Thai baht rates for last Wednesday, Thursday and Friday were:- They have Thai, Malay, Viet but not Philippino so I'm starting to think that they send US$ to my bank and in which case I cop a double haircut of AUD$ -> US$ and then US$ -> PhP!. I was thinking of going back to having pension paid into an Australian bank then using an exchange service but with all this indue crap I would never know if I might get caught up in it! Anyway, I'll know more from my bank on Tuesday.
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Post by Denis-NFA on Oct 28, 2019 18:45:36 GMT 7
I got paid on 1/10/2019 at 34.9PhP and I'm damn sure I wont get paid over that next Tuesday 29th and could be less! I got paid today. 34.583 Yet exchange rate on XO is 34.936 |
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Post by Denis-NFA on Oct 30, 2019 21:11:52 GMT 7
Forgot to mention but I asked Senator Riewert's office the other day if she, or they, could find out what currency the Reserve Bank of Australia sends to overseas Pension recipients.
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