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Calling All Economic Wizards And Currency Speculators! Do I Want It In Cash?

SteeleJoe
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SteeleJoe Ruby Member

SteeleJoe

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This is a very trifling matter Sorry if it's in the wrong forum. But I know nothing about such things and thought maybe someone could give me some useful and informed guesses that could nudge me one way or the other.

Someone owes me $2,500 and is prepared to repay me now. It happens that they are going to be here (in Thailand) in 10 days and I can either have the money transferred to my Thai bank or brought to me in cash (US currency). I'd probably want to spend that money in the next few months anyway but I wonder what the chances are I'll get a better rate if I took it in cash and changed it later...

I know that regardless we're not talking about much money either way and I'm not at all worried about it but just thought I'd ask...

Sent from my iPad using ThaiVisa ap

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CharlieH Star Member

CharlieH

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I would get the US cash, if the exchange rate moves by as little as 0.5 baht you can make an extra 1250 baht. Naturally it can go down as well but atleats you have the option. Have it paid into your account and you'll get whatever rate the sending/receiving bank has at that moment.

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cloudhopper Platinum Member

cloudhopper

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If you're going to spend it soon as THB then future exchange rate considerations are irrelevant - have it wired into your local account for maximum safety and convenience. You might get a better exchange rate with a wire but there will be an extra fee so the net cost difference will be miniscule. You never know when a note might not be exchanged due to a small tear, older serial # etc..

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55Jay Gold Member

55Jay

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If you're going to spend it soon as THB then future exchange rate considerations are irrelevant - have it wired into your local account for maximum safety and convenience. You might get a better exchange rate with a wire but there will be an extra fee so the net cost difference will be miniscule. You never know when a note might not be exchanged due to a small tear, older serial # etc..

Be nice, if cash, to also get it in $100 denominations too.

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