Transferwise or exchange cash in Thailand - better rates?

[bbi1]

Where do you get better rates, using Transferwise or bringing your home currency cash (Western country) and exchanging it in Thailand at Superrich?

[chickenslegs]

Today 10,000 GBP (cash) would get you 415,000 THB at Super Rich ... https://daytodaydata.net/default.aspx

 

A check 5 minutes ago shows that Transferwise would put 414,409 THB into your Thai bank account (that includes all fees).

 

 

 

 

[bbi1]

10 hours ago, chickenslegs said:

Today 10,000 GBP (cash) would get you 415,000 THB at Super Rich ... https://daytodaydata.net/default.aspx

 

A check 5 minutes ago shows that Transferwise would put 414,409 THB into your Thai bank account (that includes all fees).

 

 

 

 

I just checked those sites too based on the info you provided and it seems TransferWise gives a better rates than taking cash and changing it at Superrich or Vasu Exchange. Why would anyone bring cash with them to Thailand when TransferWise seems to give the best rates?

 

$10k Aussie Vasu Exchange = 225,000 baht

$10k Aussie TransferWise = 225,649 baht

[Dan123]

56 minutes ago, bbi1 said:

I just checked those sites too based on the info you provided and it seems TransferWise gives a better rates than taking cash and changing it at Superrich or Vasu Exchange. Why would anyone bring cash with them to Thailand when TransferWise seems to give the best rates?

 

$10k Aussie Vasu Exchange = 225,000 baht

$10k Aussie TransferWise = 225,649 baht

and Orbit Remit 225,916.00

[asiaexpat]

2 hours ago, bbi1 said:

I just checked those sites too based on the info you provided and it seems TransferWise gives a better rates than taking cash and changing it at Superrich or Vasu Exchange. Why would anyone bring cash with them to Thailand when TransferWise seems to give the best rates?

 

$10k Aussie Vasu Exchange = 225,000 baht

$10k Aussie TransferWise = 225,649 baht

 

[asiaexpat]

[WalkingOrders]

Not sure if this is a conuous thing for you or not, but if it is, I use bangkok bank NY routing and my bangkok bank thai account. I Find this cheapest way. I did a bit of research and they have a london branch. 

[KhunBENQ]

What amount? What currency?

 

For a small amount of 1000 USD/EUR/GBP it looks like this:

1000 USD 31557
1000 EUR 35670 (cheapest transfer)
1000 GBP 41420 (cheapest transfer)

 

Cash (best rates in Thailand, biggest notes)
1000 USD 31800
1000 EUR 35750
1000 GBP 41500

 

USD best with cash, EUR and GBP very close.

 

Transferwise always has a linear (growing) component in the fee.

Cash wins slightly.

 

3000 EUR, tr: 107119, cash: 107250

10000 EUR, tr: 357292, cash: 357500.

 

So if you want to save the risk/hassle with bigger amounts of cash, still better transferwise.

Edited April 9, 2019 by KhunBENQ

[KneeDeep]

3 hours ago, KhunBENQ said:

What amount? What currency?

 

For a small amount of 1000 USD/EUR/GBP it looks like this:

1000 USD 31557
1000 EUR 35670 (cheapest transfer)
1000 GBP 41420 (cheapest transfer)

 

Cash (best rates in Thailand, biggest notes)
1000 USD 31800
1000 EUR 35750
1000 GBP 41500

 

USD best with cash, EUR and GBP very close.

 

Transferwise always has a linear (growing) component in the fee.

Cash wins slightly.

 

3000 EUR, tr: 107119, cash: 107250

10000 EUR, tr: 357292, cash: 357500.

 

So if you want to save the risk/hassle with bigger amounts of cash, still better transferwise.

 

 

You didn't include cash advance via CC. Mastercard rate for the 8th was 41.57. So for £1000, 41,575 baht.

 

So according to your figures, the best option.

 

You can better it today at Super Rich Thailand, but only if you go to their head office.

[gamb00ler]

1 hour ago, KneeDeep said:

You can better it today at Super Rich Thailand, but only if you go to their head office.

Vibhavadi 22 office has the same rate as head office.  It's fairly close to Central Lad Phrao.

[KneeDeep]

19 minutes ago, gamb00ler said:

Vibhavadi 22 office has the same rate as head office.  It's fairly close to Central Lad Phrao.

 

Not everyone lives in Bangkok...

But useful if they do and are close to those branches.

[donim]

It is both. They are overlapping each other..

 

Transferwise have a bit better rate. But the difference you can lose in the fee.

 

Exchange in cash you do have more freedom to use any amount.

But the rate differs again on type of the bills.

With euro, the 100 bills give a better rate then 20 and 50.

 

Transferwise locks their rate in the weekend, if it goes up or down you will notice that at the cash exchange.

 

I did had a excel form, wich will tell me when the lines cross and even gives the number for IF the rate was a little bit higer and lower. This teached me that:

 

Bigger numbers, Transferwise gives you the most.

Smaller amounts, cash is better.

 

Also it rewards a little to get the feeling of currency 'waves', it depends on the season. Even if it is rising/falling, you will see a yearly pattern in the graphs.

The last 10 years, it happend around christmas the graph was falling 7 times to climb up just when the hot season is here.

I told myself, everything above 1:38 is perfect and if lower then 1:36 be sticky with the cash. (EURO rate)

 

Rgds,