I’m thinking of using revolut for transferring money to my Thai bank account. Due to the fact that Revolut charges a surplus on THB rate I will transfer in USD.
But here comes the problem, Thailand doesn’t have the IBAN codes, and Thai banks don’t use the branch code in the SWIFT code so it is SICOTHBKXXX (where the XXX could have been used for the branch).
When transferring from my Swedish bank (who’s charging me about 15 € per transfer) to Thailand they state very clearly that I need to give the branch address so that they can send the money to the right branch, but I cannot do that with Revolut. Will the money reach my account anyway?
From what I have read from different forums (can’t find any information on my Thai bank’s homepage) the fee for receiving money is generally 0.25% in Thailand, minimum 200 THB, maximum 500 THB.