Send Money from Thailand to Hungary
Dollar earners living in Thailand use this route to reach people and companies in Hungary, paying out of US dollars already held in Grey. What arrives is euro, credited to a Hungarian IBAN at OTP Bank, K&H Bank, Raiffeisen Bank Hungary or another bank there. Where the account is held in forint, the recipient's own bank converts the euro after it has landed.
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Dollars in Thailand, euro credited to a Hungarian IBAN
Freelancers, expatriate staff and African professionals living in Thailand make up this corridor, along with Thailand-based companies paying Hungarian suppliers. The payments are usually rent, tuition, family support or an invoice from a contractor in Budapest, Debrecen or Szeged.
Each transfer starts from the US dollars you already hold in Grey. Lead Bank provides the Grey USD account, which carries US routing and account numbers so clients, employers and platforms abroad can pay you into it. Those dollars are converted when you confirm, and nothing else funds the payment.
What reaches Hungary is euro, not forint, and this is worth saying plainly before the first transfer. Grey credits the Hungarian IBAN in euro. If the account on the other end is a forint account, the recipient's own bank turns that euro into forint once it arrives, at a rate it sets and with a charge it decides, and Grey takes no part in that step and cannot quote it. Where the IBAN belongs to a euro account, no second conversion happens at all and the credited amount stays exactly as it arrived.
How to send money to Hungary from Thailand
Sign up
Create your Grey account on your phone and complete verification with a passport or another accepted identity document. Grey Inc is registered with FinCEN, registered address 651 N Broad St, Suite 206, Middletown, DE 19709, United States.
Fund
The Grey USD account provided by Lead Bank carries US routing and account numbers, so whoever pays you can send dollars into it, or you can wire dollars in from another bank. Every Hungarian payout comes out of that dollar balance.
Send
Choose Hungary and enter the recipient's IBAN. No other account detail is required and no Grey account is needed at their end. Read the euro amount, the rate and the fee, then confirm to settle all three.
What a transfer to Hungary costs
Grey's own charge is only part of what this route costs. The rate margin is the second part, and a provider advertising free transfers can still convert at a rate that leaves less euro on the IBAN.
Compare what lands. Send the same dollar amount through Grey and through a rival such as Wise or Revolut, then read the euro figure each one commits to delivering. That figure already holds the fee and the margin together.
There is a third cost on this corridor that belongs to nobody but the receiving bank. Where the Hungarian account is held in forint, that bank sets the euro to forint rate and its own charge when it converts. Asking the recipient what their bank applies is worth doing before you start sending.
A euro account at OTP, K&H or Raiffeisen removes that third cost completely, because nothing is converted on arrival. Where the recipient has a choice of account, it is the cheaper way for them to be paid.
Why the rate is fixed on the euro leg only
Grey quotes a US dollar to euro rate and holds it from confirmation. The euro figure you approve is the euro figure credited to the Hungarian IBAN, whatever the market does afterwards.
There is no dollar to forint rate to show you, because Grey does not convert into forint on this route. The forint appears only if the recipient's own bank converts the euro after the credit has landed, and that rate belongs to the bank rather than to Grey.
The practical consequence is worth explaining to whoever you are paying. One rate is fixed and visible, which is the one Grey applies to your dollars. The second, if it happens at all, is set by their bank on the day the euro arrives.
Grey set against an ordinary bank wire to Hungary
A correspondent bank wire to Hungary brings intermediaries, cut-off times and deductions that only come to light once the money has moved. Grey sends the euro through the Single Euro Payments Area instead, which Hungary belongs to even though its own currency is the forint, so the credit reaches the IBAN as a euro area payment rather than an inbound international wire.
That changes what you can promise the recipient. Payments eligible for SEPA Instant settle in under ten seconds, the euro figure is agreed before anything leaves your balance, and the transfer carries a status in the app instead of a reference you have to chase.
What the recipient in Hungary sees
The recipient is credited in euro on their Hungarian IBAN. They need no Grey account, no app and no action beyond giving you that IBAN.
Which banks receive it
OTP Bank, K&H Bank, Raiffeisen Bank Hungary and other Hungarian banks are all reachable, and the IBAN on its own routes the payment.
What the credit is denominated in
The credit arrives as euro. If the account is held in forint, the recipient's bank converts it on arrival at the bank's own rate and charge.
GreyTag
If the recipient is also a Grey user, send to their GreyTag instead. Transfers between Grey users are instant and free in any currency.
Funding a payment to Hungary
The euro you send is bought with dollars already held in Grey, so the funding route you use determines when the payment can go out.
Client and employer payments
Details shared once mean every later payment lands in your Grey USD account by itself.
A dollar wire
Use the routing and account numbers in the app to bring dollars in from another bank that holds dollars for you.
An existing balance
Dollars already in Grey convert on demand, which is how most regular senders on this route work.
A standing dollar balance suits anyone paying into Hungary on a schedule. Rent, tuition instalments and contractor invoices fall on their own dates rather than on the day a client pays you, and holding dollars in advance keeps the two apart.
Who sends money from Thailand to Hungary
Freelancers and remote workers
Consultants, developers and designers living in Thailand who invoice abroad in dollars and pay people or bills in Hungary from that income.
Expatriate professionals
Staff resident in Thailand on a foreign or dollar payroll, sending part of a salary to a Hungarian account each month.
Students and families
Africans and other residents of Bangkok, Chiang Mai and Phuket covering tuition, rent or living costs for a relative studying in Hungary.
Businesses paying Hungarian suppliers
Companies and agencies in Thailand settling Hungarian contractors, studios and suppliers, often grouped into a single run each month.
This corridor is carried by people in Thailand earning US dollars: freelancers billing overseas clients, expatriate staff on a foreign payroll, families covering study costs, and Thailand-based businesses paying Hungarian suppliers.
The best way to send money from Thailand to Hungary
FAQs
What does it cost to send money from Thailand to Hungary?
Grey shows its rate and fee before you confirm. If the recipient holds a forint account, their bank adds its own conversion charge afterwards.
How long does the euro take to arrive?
Hungary sits inside the Single Euro Payments Area, and payments eligible for SEPA Instant settle in under ten seconds.
What details do I need to send to Hungary?
The recipient's Hungarian IBAN, and nothing else. They do not need a Grey account or an app at their end.
Which Hungarian banks can receive the money?
OTP Bank, K&H Bank, Raiffeisen Bank Hungary and other Hungarian banks, each credited in euro on the IBAN you enter.
Is there a limit on the amount?
Limits that apply to your account are shown in the app before confirmation, so you see them while the payment can still be changed.
Can I see where the payment is?
Yes. The Grey app carries a status for every transfer, from the moment you confirm until the euro is credited.
Is it safe to send money to Hungary with Grey?
Grey Inc is registered with FinCEN in the United States, payments are encrypted, and each transfer can be followed in the app.
How do I fund a payment to Hungary?
From US dollars held in Grey: client or employer payments into your USD account, a dollar wire, or an existing balance.
Does the recipient get euro or forint?
Euro. If their account is held in forint, their own bank converts it after arrival, at a rate and charge Grey cannot quote.
Is there a record of each transfer?
Every payment is stored in the Grey app and can be matched against invoices or rent. Grey does not provide tax advice.
What if I type the IBAN wrongly?
Check the IBAN on the confirmation screen before you send. If a payment has already left with wrong details, report it in the app at once.
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