Condo purchase - exchange rate for fund transfer
For condo purchase it is required to transfer foreign currency from overseas inoa Thai bank and for conversion to be done by the bank and issue a FET certificate.
Question - do all the banks offer pretty much same exchange rate for $? or does it vary significantly?
On a largish amount could make a fair bit of differene.
Grateful for any experiences/wisdom.
PS: Before saying WISE - I dont think they qaulify. Exchange has to be done in Thailand by the receiving bank!
TLDR : Answer Summary
When purchasing a condo in Thailand, buyers must transfer foreign currency which is then converted to Thai Baht by the receiving bank, issued with an FET certificate. The discussion revolves around whether all banks offer similar exchange rates for such transactions, as differences can significantly impact large sums of money. Community members suggest comparing rates online, negotiating with bank managers, and using reputable services like DeeMoney for smoother transactions. Concerns about the legitimacy of processes and risks in property purchases, especially involving Thai partners, are also highlighted.