How does CurrencyFair compare to Bangkok Bank?

Written by CurrencyFair | Dec 04, 2019

Bangkok Bank is one of the leading traditional banks where customers can convert currency into Thai Baht to keep as savings, to pay a mortgage, or to fund some of life’s other larger transactions.

Before sending money to Thailand, it could be beneficial to shop around for the best deal possible on getting money from A to B. This guide to money transfers with Bangkok Bank may help with exactly that.

Bangkok Bank

This bank is one of Thailand’s most well-known banks with over 1,165 branches nationwide – but when sending money to the “Land of the Smiles”, how much THB will be received for €1,000 with Bangkok Bank?

Fees

Although customers don’t need an account at Bangkok Bank to receive a funds transfer at one of their branches, a fee of 0.25% of the transfer amount is charged (minimum 200 baht, maximum 500 baht).

Rates

On the bank’s website, on the 2nd of December 2019 at 17:12, for an online transfer of funds, the listed exchange rate was 33.09500 THB – 1 EUR; so the recipient should receive approximately 33,007.50 THB when 1,000 EUR is sent.

However, CurrencyFair equated €1,000 to 33,418.50 THB on the same day.

That’s a saving of 411 THB for the CurrencyFair customer - before even considering the bank’s fees, as denoted above.

Complete with speedy transfers and world-class customer support, CurrencyFair could save you substantial money on your transfers to Thailand.

 

CurrencyFair

In comparison to Bangkok Bank, our dedication to bringing customers financial fairness is summed up in our simple and transparent fee structure:

Fees

All transfers of all sizes to every available currency and destination will cost the equivalent of only 100 THB to the customer, each time.

Foreign Exchange

We’ll never charge you more than a 0.6% margin on the live exchange rate you see on Google. The typical bank, in comparison, tacks on between 3-6% on average.

Better yet, our customers could even eat the mid-market rate using our peer-to-peer marketplace.

Complete with speedy transfers and world-class customer support, CurrencyFair could save you substantial money on your transfers to Thailand.