Transfer Euro To Thailand

[chris11]

Hello

I want to transfer euro from Germany to Thailand to buy a house for my wife here.

I want to know the cheapest and best way to do this?

Open a Euro account in Thailand, or let transfer to Baht and send to the normally account and which Bank to use?

Thanks Chris

Edited September 18, 2008 by chris11

[george25]

Hello

I want to transfer euro from Germany to Thailand to buy a house for my wife here.

I want to know the cheapest and best way to do this?

Open a Euro account in Thailand, or let transfer to Baht and send to the normally account and which Bank to use?

Thanks Chris

Just transfer the Euro to any bank account in Thailand. Make sure the German bank transfers Euro and not THB. You need to tell them!

The daily exchange rate of your Thai destination bank applies.

If you don't have a Thai bank account, then you need to open one. Some banks are easier than others, but I believe you need always a work permit.

Another option would be to transfer it to your wife's (Thai) account.

Cheers,

George

[anthonyu]

Agreed. Transfer the Euros to Thailand first via a foreign currency deposit account here. The exchange rate will be better since the Euro is an indemand currency in Thailand opposed to the Baht not being in demand in Europe. You will need a work permit to open one unless you open it in your wife's name. After that have it converted to Baht and moved to a normal savings account here.

[chris11]

Hello

Thanks for the answers

I have a work permit and saving accounts at Kasikorn and Bangkok Bank.

So i have to open a new Account for Euro?

And it looks like that Bangkok Bank have better exchange Rates then Kasikorn Bank, is this correct?

Thanks Chris

[yeti]

Hello

Thanks for the answers

I have a work permit and saving accounts at Kasikorn and Bangkok Bank.

So i have to open a new Account for Euro?

And it looks like that Bangkok Bank have better exchange Rates then Kasikorn Bank, is this correct?

Thanks Chris

You can transfer directly to a THB savings account, just make sure that your bank in Germany sends Euro so that the conversion will be made by the Thai bank.

Kasikorn has exchange rates on their website, probably the same for Bangkok Bank, so chose the one which is the best for you.