have made several transfers all of the $2000 amount from commonwealth bank of australia to a bangkok bank account in thailand.
obviously exchange rates fluctuate, but this last transfer ended up giving 3000 baht less than the previous 2 transfers. i know this much could not be explained by exchange rates so asked commonwealth bank....there reply. "the money may pass through one or more banks on the way to the beneficiary bank" is the key bit and so basically says that it can pass though several banks who will charge and its out of my control....so if i want to transfer 2k then it may cost me 5% in fees...maby more!!??
so what are my other options...feels like a con and fast going off commonwealth!
"I can confirm you processed the IMT in AUD however please note, the funds were received at Bangkok bank however the money may pass through one or more banks on the way to the beneficiary bank. Each bank your money passes through may deduct a certain amount from the amount sent as a processing fee.
Unfortunately the amounts deducted are out of our control and not able to be determined prior to sending the money. If a specific amount is required to be received, we suggest you send a little bit more money to cover these potential costs.
The beneficiary bank may provide you with the fees charged by the intermediary bank."