Answered6 months ago
What is the best way to transfer USD or EUR to Thai Baht with low fees?
What is the best way to get low transfer rates from USD or EUR to BAHT? Is Wise a good option, or should I wait to move to Thailand and open a bank account. I have heard opening Thai bank accounts can be difficult.
Answer summary
To transfer USD or EUR to Thai Baht cost-effectively, many recommend using Wise due to its competitive rates and low fees. However, it's advisable to open a Wise account from your home country before moving to Thailand. Keep in mind that opening a Thai bank account can be challenging for tourists, requiring a valid visa. Cash exchanges, particularly through places like Super Rich, may offer better rates than electronic transfers. Ultimately, the best method may vary based on personal preference, currency amounts, and individual needs.
25 repliesnewest first
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Paul *******
Take cash
Bohdan **********
Opening a Thai bank account is easy if you follow the rules. The issue is the exchange rate. The Thai banks are lower than super rich wise is quite good. For me cash is king. Particularly is you travel back and forth to your home country a lot.
Ken ************
Wise best
Tom *******
Today exchange rate for uk £ was 44.25
Lynnette *******
Like most countries, you can't open bank account as a tourist. Get your visa before arriving then you can open a bank account.
PeacefulSe**********
There are rules to open a Thai bank account, tourists can’t open a account anymore.
John *******
Usa. Chase Bank. Transfer to bank account in thai. No fees
Dennis *********
John Hahle omg no. trying that once. All kinds of fees, and absolutely the worst transfer rate ever.
Tomas *********
Dennis Starkey it is around 10 euro more expensive to use wise compared to use bank to bank transfer when you transfer 10.000 euro.
John **********
What visa will you move to Thailand on?
GrayFr******
OP@John *********
I currently do not know, most likely Medical or Education.
Steve **********
Even education Visa you cannot open bank account.
David *****
IMO the best rates of exchange, but with obvious limitations, is cash. Go to super rich headquarters in bkk and change there.
I’ve used most methods including atm, wise, wire transfers and I think cash gives the best overall rate. But obviously can’t buy big items using cash.
When I buy a home, I’ll use wire transfer and hope I picked a good day/week to send the funds.
I’ve used most methods including atm, wise, wire transfers and I think cash gives the best overall rate. But obviously can’t buy big items using cash.
When I buy a home, I’ll use wire transfer and hope I picked a good day/week to send the funds.
GrayFr******
OPDavid Lew Interesting, so It would be more profitable to bring 20k cash with me and exchange at the bank exchange rather than exchanging through wise?
Andy ********
GrayFrog9258 From the UK £10,000 cash max.
With definitive proof of where it came from and taxes etc. paid or they’ll confiscate it from you at the UK border force.
With definitive proof of where it came from and taxes etc. paid or they’ll confiscate it from you at the UK border force.
Denis *********
GrayFrog9258 I personally wouldn’t do that. Up to you.
Dany ********
Revolut 👍
Graeme ******
Best open a wise account in your home country then when you are in thailand you can move your money from your home account into thai baht at excellent rates with low fees, you can then use this to spend thai baht in thailand via a debit card, electronic card or withdrawal cash from ATM
Steve ********
Graeme Mort withdrawing cash at an ATM with the Wise card is definitely not advisable due to the fees.
Graeme ******
Steve Wigdel if you need cash and you take out the maximum limit then its ok, just not low regular amounts as the fees stack up
Martin *****
Wise
Ant ***********
You can only open a Thai bank account with a suitable Visa
Wise is very common here but best to open a Wise account from your home country .
Wise is very common here but best to open a Wise account from your home country .
George ********
Ant W Tailor can you use a wise card to pull money there ?
Rick ****
George Mangov Yes, but not advisable. Fees on both ends.
Ant ***********
George Mangov
Yes absolutely
Yes absolutely
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