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Post by Denis-NFA on Feb 19, 2019 17:27:22 GMT 7
BanjoSometime ago I signed up for the 4 weekly payment to be paid directly into my Philippine Bank Account and I'm just wondering if you know or if you have seen mention on other sites you visit that you can have your 4 week (monthly) pension paid into an Australian Bank Account and deal with the transfer myself? I went to my bank today and turns out that I'm a bit like nomadic as someone, somewhere, has given me a haircut of about AUD$50 and I have no ability to find out if it was in Australia or the Philippines. Appreciate any information.
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Post by Banjo on Feb 19, 2019 19:25:17 GMT 7
No, Centrelink handles the transfer from the Reserve bank then it goes into overseas bank of your choice which hits you with the fees. I think the rate is just bad, I've never really felt I'm being diddled on the fees since I changed over, I was doing 50 bucks on an ATM transaction before then which was usually two a month. I'm not really good at high finance, I could be wrong but I feel like I'm getting a better deal. We'll always pay something, it's the way banks work.
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Post by Denis-NFA on Feb 20, 2019 1:58:08 GMT 7
No, Centrelink handles the transfer from the Reserve bank then it goes into overseas bank of your choice which hits you with the fees. I think the rate is just bad, I've never really felt I'm being diddled on the fees since I changed over, I was doing 50 bucks on an ATM transaction before then which was usually two a month. I'm not really good at high finance, I could be wrong but I feel like I'm getting a better deal. We'll always pay something, it's the way banks work. LOL. "It's the way Banks work". Ain't that the truth. I truly appreciate what you are saying and I understand the 'fee' factor. But I was more interested to know if you had ever come across someone that started being paid their 4 weekly pension direct to their overseas bank account but later on then went back to having their 4 weekly pension paid into an Australian bank account. I appreciate that C/Link would prefer to pay us O/S recipients of pensions on a 4 week basis direct to our overseas bank accounts because of the fees they incur and that is understandable. Plus they can check on whatever else is happening in our overseas bank accounts. But I'll check with C/L International and see what they say. Cheers Denis
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Post by nomadic on Feb 20, 2019 6:35:44 GMT 7
What I can't understand is why I lose so much between an internet transfer and if I changed cash. I don't mind the A$12.00 fee but to lose $hundreds out of only $5,000 because of the lower rate is pure theft.
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Post by latindancer on Feb 20, 2019 11:21:04 GMT 7
Caveat Emptor : Let the buyer beware
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Post by aussiebernie on Feb 20, 2019 12:44:16 GMT 7
Hi Nomadic, Did you use an Aussie bank to transfer your money or did you use a remittance company like Instarem or Transferwise..?? The banks will always charge you more if you let them make the exchange in Thai Baht. They will transfer at their shit rate. If you get them to transfer AUD$, then the banks in Thailand will hit you with their shit rate On $5,000 the ANZ will give you 106,670 Baht and the Thai bank will most probably charge you a 500 to 1,000 baht fee to put the money in your account. Instarem will give you 110,693.75 Baht and no Thai bank fees Transferwise will give you 110,546.43 Changing that cash in the best money exchange in Bangkok will get you 111,000 Baht daytodaydata.net/default.aspxThese are the rates as of 20th Feb 2019
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Post by Denis-NFA on Feb 21, 2019 2:51:05 GMT 7
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Post by Deleted on Feb 21, 2019 8:11:13 GMT 7
Been using TransferWise for years; can't fault them. Quick, midterm rate, easy as with a fee that doesn't break the bank. Cheers bear.
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Post by dave3478 on Jun 20, 2019 7:03:31 GMT 7
Whats going on with the Australian dollar?? Lowest I have ever seen it.. All the commentators on radio where over the moon the liberals got back in yet our economy has crashed since that happened. I never voted for em but obviously the overwhelming majority did. Soon all imports will be too expensive for the average person but the mining companies will be fine.Good luck to all expats .We are going to need it along with health insurance.
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Post by Denis-NFA on Jun 20, 2019 16:37:24 GMT 7
Whats going on with the Australian dollar?? Lowest I have ever seen it.. All the commentators on radio where over the moon the liberals got back in yet our economy has crashed since that happened. I never voted for em but obviously the overwhelming majority did. Soon all imports will be too expensive for the average person but the mining companies will be fine.Good luck to all expats .We are going to need it along with health insurance. dave3478The Australian Embassy in Manila has declared that for the month of June AUD$1=35.1 PHP
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Post by dave3478 on Jun 20, 2019 17:17:43 GMT 7
Whats going on with the Australian dollar?? Lowest I have ever seen it.. All the commentators on radio where over the moon the liberals got back in yet our economy has crashed since that happened. I never voted for em but obviously the overwhelming majority did. Soon all imports will be too expensive for the average person but the mining companies will be fine.Good luck to all expats .We are going to need it along with health insurance. dave3478 The Australian Embassy in Manila has declared that for the month of June AUD$1=35.1 PHP is that a good rate?? I am thinking of Thai baht now 20 baht to the dollar
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Post by nomadic on Jun 20, 2019 19:12:16 GMT 7
Yes Dave, has gone down slowly but surely over last few months. Today I changed cash and was 20.8. Lowest seen for years. But I have seen as low as 17 and as high as 37 when the Asian financial crisis hit in the early noughties. now only getting US 69 cents when a while back was highest in history at US$1.10 but again once down to 49 cents so maybe not bottomed as yet. A wise man (banjo) once said "Never look at exchange rates other than on the day you change" Very wise indeed as they are something we have no control over. Need baht then change. But does no good for Aussies wanting to travel either
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Post by tasjo on Jun 21, 2019 6:39:43 GMT 7
Just doing an exchange.. omg it's down at the moment 18 to a dollar
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Post by Deleted on Jun 21, 2019 6:44:16 GMT 7
Just doing an exchange.. omg it's down at the moment 18 to a dollar Just got 21.368 with TransferWise to Bangkok Bank.about an hour ago. Not great but not complaining! Seriously tasjo bringing Aud. and exchanging it here will see you better off. Not at an airport though. Cheers bear
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Post by onemore on Jun 21, 2019 6:55:02 GMT 7
I was talking to a mate the other day who frequently goes to Thailand, he reckons it is getting expensive there as a holiday destination, and that is apart from the current exchange rate.
Just saying.
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