Sending GBP abroad


#1

Hello,
I would like to send some GBP in my Revolut account to my local Thai bank account in Thailand. Should I send it as in GBP or in THB to get most of the benefits?

Thank you.


#2

I would send THB, because of better Revolut’s exchange ratio. Before that I would check if there is any difference dependent on transferred currency.


#3

Use Transferwise borderless account, top up from Revolut for free. Transferwise SWIFT fee will be fixed (you will know it before your transfer) and most likely much cheaper. FX rate will be the same as with Revolut.


#4

Well, not exactly, but close. :wink: And TW adds an additional fee for the conversion while this is free with Revolut. Having said this, TW is indeed a good option for this as well and the fixed SWIFT fee is worth checking it out.


#5

That’s wonderful! Thanks so much for the advice. :smiley:


#6

Very very close :wink: Problem with Revolut and SWIFT transfers is that you never know the final transfer fee. Revolut claims they do not charge any, but intermediate banks do and it could be any amount. I wouldn’t buy cat in the sack.


#7

Just tested sending THB from GBP Revolut (using Revolut conversion from GBP > THB) to my local Thai bank account in Thailand and the Thai bank deducted THB450 for bank fee.

So if the local Thai bank receive any currencies from abroad even in THB currency, there will be a bank charges. No way to completely escape this.