Send Money from Thailand to Latvia
Transfers to Latvia are paid in euro out of a US dollar balance held in Thailand. The senders are freelancers and remote workers billing clients abroad, expatriate staff on foreign payroll, and Thailand-based firms settling Latvian contractors, suppliers and professional fees. Swedbank Latvia, SEB Latvia and Citadele Bank all receive on an IBAN, with no further routing detail required.
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Dollars in Thailand, euro credited on an LV IBAN
People sending to Latvia from Thailand are almost always holding US dollars first. Remote developers and designers in Bangkok billing agencies abroad, consultants in Chiang Mai on a foreign payroll, and Thailand-registered companies working with Latvian engineering and logistics partners all keep income in dollars before anything goes out.
A good share of this route is professional rather than personal. Legal fees to an office in Riga, a retainer for an outsourced finance team, a property or notary payment: these go to a business account where the IBAN is the only identifier anyone needs, which keeps the instruction short and the record clean.
Grey turns the dollars into euro once and sends them. The Grey USD account is provided by Lead Bank with US routing and account numbers, so clients and employers abroad can pay you into it directly. Swedbank Latvia, SEB Latvia and Citadele Bank all take the payout, along with the other banks Latvian households and firms use, and the euro posts to the account without any further conversion at the Latvian end.
How to send money to Latvia from Thailand
Sign up
Open your Grey account from the app in a few minutes, verifying your identity with a passport or another accepted photo document. Grey Inc is registered with FinCEN, registered address 651 N Broad St, Suite 206, Middletown, DE 19709, United States.
Fund
Your Grey USD account from Lead Bank has US routing and account numbers attached. Share them with the client, agency or employer who pays you, or wire dollars in from a dollar account at another bank. Latvian payments are made from that dollar balance.
Send
Choose Latvia, enter the LV IBAN and confirm the account name. The euro amount, the rate and the fee are shown together, and the figures hold from the moment you confirm.
What a euro transfer to Latvia costs
A low advertised fee tells you very little on its own. Where the quoted rate sits away from the market, the charge has been folded into the conversion, and the only place it appears is the smaller euro figure landing in Riga.
Compare what each provider undertakes to deliver for the same dollars. That figure contains the fee and the rate margin at the same time, which is why it settles the question faster than a table of percentages does.
Where payments recur, the difference becomes a running cost. A monthly retainer, a quarterly professional fee or a standing payment to a supplier repeats the same instruction, and a margin you cannot see is charged on each repetition.
Where the rate applies on a payment to Latvia
One rate applies, and it is fixed when you confirm. Your dollars become euro at that moment, and the euro total displayed on the confirmation screen is what the Latvian account is credited with.
Nothing is exchanged at the receiving end. Because Latvia uses the euro, the bank in Riga is not converting anything on arrival, so the amount credited is the amount sent and no second margin is applied.
You decide when the conversion happens. Dollars held in Grey remain dollars until you act on them, which lets you time a larger payment around a rate you are content with rather than around the day the money arrived.
Grey against an ordinary bank wire to Latvia
A wire to Latvia is routed through correspondent banks, and each link in that chain can apply a charge and impose a cut-off, so the figure agreed at the start may not be the figure credited at the end. Grey sends the euro over SEPA, where the amount confirmed is the amount that posts to the IBAN.
You also give less information to get the money there. The LV IBAN alone identifies the account, where a wire typically asks for a SWIFT code and a bank address as well. From a funded dollar balance the euro usually reaches Latvia within minutes, and banks signed up to SEPA Instant settle those credits faster still.
What your recipient in Latvia sees
The money arrives as euro in the account the recipient already uses. There is nothing for them to join, download or collect.
Which accounts receive it
Swedbank Latvia, SEB Latvia and Citadele Bank all accept the credit, as do other Latvian banks. The LV IBAN is the only detail the transfer needs.
How quickly it lands
From a funded dollar balance the euro typically reaches the Latvian account within minutes, and sooner again where the receiving bank is on SEPA Instant.
GreyTag
If your recipient uses Grey, their GreyTag is an alternative to the IBAN. Transfers between Grey users settle instantly and carry no fee, in any currency.
Funding a transfer to Latvia
The euro is bought with dollars already in Grey, so funding is the step that governs everything after it.
Payments straight into Grey
Once the account details are with your client or employer, later payments arrive on their own with nothing more to do.
Wiring dollars in
Use the routing and account numbers in the app to move dollars across from another bank in your own name.
Using the balance you hold
Dollars already in Grey convert on request, which is what most senders rely on when a professional fee falls due.
Payments to Latvia are often tied to a date someone else has set, a notary appointment, an invoice term or a closing deadline. Senders who keep dollars in Grey ahead of time are not depending on an incoming payment clearing in the same week.
Who sends money from Thailand to Latvia
Freelancers and remote workers
Consultants, engineers and creatives living in Thailand who bill overseas clients in dollars and pay Latvian collaborators from the same balance.
Expatriate professionals
Staff resident in Thailand on a foreign or US dollar salary who hold commitments in Latvia, from a mortgage to a family account.
Professional and legal fees
Payments to a law office, notary or accountant in Riga, where the IBAN and a clear reference are all the receiving side asks for.
Businesses paying Latvian suppliers
Thailand-based companies settling logistics partners, development teams and manufacturers in Latvia against agreed invoice terms.
The senders are people and companies in Thailand holding US dollars: freelancers and remote workers, expatriate professionals, those paying fees or family costs in Latvia, and businesses settling Latvian suppliers.
The best way to send money from Thailand to Latvia
FAQs
What does it cost to send euro to Latvia?
A fee plus the dollar to euro rate, both visible before you confirm. Nothing further is deducted when the euro reaches the Latvian account.
How quickly does the euro arrive in Latvia?
From a funded dollar balance the euro typically arrives within minutes, and faster where the receiving bank has signed up to SEPA Instant.
What details are needed to pay a Latvian account?
The recipient's LV IBAN and the account name. No SWIFT code, branch number or bank address needs to be supplied.
Which Latvian banks does Grey pay?
Swedbank Latvia, SEB Latvia and Citadele Bank all receive euro credits, as do the other banks Latvian households and businesses use.
Are there limits on the amount?
Limits attached to your account are displayed in the app before confirmation, so you see them while arranging the payment rather than afterwards.
Can I see where the payment is?
Yes. A status runs alongside each transfer in the Grey app, from confirmation through to the euro being credited in Latvia.
Is Grey safe for payments to Latvia?
Grey Inc is FinCEN registered in the United States. Transfers are encrypted and every payout can be followed in the app until settlement.
How do I fund the transfer from Thailand?
With US dollars: invoice or salary payments into your Grey USD account, a dollar wire from another bank, or an existing Grey balance.
Does the recipient need to use Grey?
No. A Latvian bank account with an IBAN is sufficient, and the recipient never registers with Grey or installs anything.
Is there a record I can keep?
Each payment remains in your Grey history with its rate, fee and euro amount, suitable for matching to invoices. Grey does not give tax advice.
What if the IBAN I entered is wrong?
Read the IBAN and the returned account name on the confirmation screen first. If a wrongly addressed payment has already left, report it in the app straight away.
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