Transfering Thai baht to EUR

Financial Chat
1

Hi everyone,
I am looking for the cheapest way (best currency conversion rate) to transfer some thai baht to EUR. Does anyone have a good insight how to save on this as the website fx-rate.net shows huge differences (+/- 1.000… ) for an amount of ~ 22.000 EUR (currently THB).
https://fx-rate.net/currency-transfer/?c_input=THB&cp_input=EUR

Any help and ideas are much appreciated

Many thanks
Nico

2

Is transferwise wildly expensive?

4

I checked that before but it says “We can’t send from THB to EUR yet, but we’re adding new currencies all the time. Want to be the first to know?”

5

Thai Baht is not a very liquid currency, you’d be best asking someone in Thailand to use their own or your own bank.

6

Thanks for your answer,
this is actually the case. My wife is Thai and we want to transfer some of her money to Europe for to buy a property. But now we are confronted with about 1000 Euros in fees & bad currency rate…

7

If you’re transferring a huge amount of money from somewhere like Thailand I think the fees are going to be unavoidable,

You might have more luck transferring it to USD, SGD or HKD with regards to the fees. All of those are significantly cheaper to transfer back to GBP.

Alternatively you could open an account with a bank such as HSBC or Citi in Thailand - they have a substantial worldwide network and depending on how much money you’ll be holding with them transfers between the same bank in other countries can be fee-free. Citi and HSBC both offer this.

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