Change rate Euro Bath


#1

Hi,

why are you taking a commission for a euro transfer to the Thai currency? The Thai currency is a strong and liquid major currency

Best Regards


#2

what do you mean? there is always comm. but in lower rates! no matter the currency.


#3

Where do you get the impression Thai is liquid major currency? There are strong export control for money flowing out of Thailand and a very limited banking system with a lot of protectionism like elements and almost zero fintech disruption . Enjoy the tree per task of paper work at any Thai bank and the uniform ATM charge for foreign card - this should give you a clue of how closed the system is. Im sure Revolut are doing the best and haven’t just decided to disciminate against THB.

Also there’s always a commission of sorts, it’s how Revolut/Mastercard make money and/or at least cover exposure to currency fluctuations between authorization and settlement. Revolut isn’t a charity.


#4

hi, Thank you for your reply, I asked this question because in the website it is indicated
"Send money globally for free
Fast, free and secure money transfers to bank accounts in over 120 countries, while saving you up to 8% by using the real exchange rate"

Best Regards


#5

That does seem a little bit deceptive, but they do say “up to”.

I’m not sure there is anything Revolut can do, other cards might give you the Mastercard rate but then add a rate of adjustment of 1.4% (fairfx) to 2.75% (you typical debit/cards). Until Thailand embraces FinTech it’s unlikely to change significantly.

You can use transferwise if you have a Thai bank account and revolut rate isn’t favourable.


#6

You can use Starling or Monzo and get the Mastercard rate with no markup