Find out how to transfer money to Thailand at the best THB rate in a few easy steps
Although the evolution of the exchange rate is fluctuating, it can help you save money to follow it so that you can optimize how much the recipient of your transfer will receive. Track the Thai baht rate and validate your transaction when the exchange rate reaches your target level.
Are you looking for the service with the lowest price, the shortest transfer time, most positive customer reviews, or a good compromise.
Another important aspect is to have a look at the pay-in and pay-out methods. Bank transfer or credit/debit cards are the most common pay-in methods to send money to Thailand online. To receive the money in Thailand, choose if you need the money to be transferred to your recipient's account or be available for cash pick-up.
Go to the money transfer provider's homepage to complete the sign-up process - be aware you will often need to give an ID document and/or a proof of adress - and get started with your money transfer to Thailand.
Whether you’re an expat living in Thailand and regularly need to send money from your home country to Thailand, or you left Thailand to live and work abroad and transfer money back to Thailand to support your family, comparing money transfer solutions before your transfers can help you save a lot on transfer fees and poor exchange rates.
If you’re still using your bank to transfer money to Thailand (or a traditional cash-to-cash money transfer operator, or even worse PayPal), you’re likely paying 3%-5% too much for each of your transfer. There are today a lot of solutions to transfer money to Thailand with transparent fees and great exchange rates, you simply need to compare your options before each of your transfer, for the exact amount you need to send.
The cheapest way to send money to Thailand will almost always be to make a transfer to a bank account in Thailand via a specialized online money transfer operator, that you can pay by debit card or local bank transfer. Services such as TransferWise or Xendpay are good examples of such solutions, they will offer an exchange rate very close to the mid-market rate and apply transparent and low fees. These solutions will be much cheaper than making an international bank transfer to Thailand with your own bank or using PayPal, as these options generally have higher fees and take a huge margin on the exchange rate when converting your money in Thai Bahts.
If your recipient in Thailand doesn’t have a bank account, you also have plenty of good options to choose from. It’s generally worth it to check the money transfers giants Western Union and Moneygram to see if they currently have good offers as they have a great coverage of every region in Thailand and offer very fast transfers, however, other companies such as Azimo, WorldRemit, Transfast or Remitly which offer transfers to many pay-out options (cash pick-up, airtime top-up, bank transfer, bill payment) will usually offer you a better deal.
If you’re sending a large amount to Thailand, let say you are for example and expatriate moving to Bangkok for a few years and you want to take part of your savings with you, or you need to buy property in Thailand, then, we usually recommend to use a foreign exchange company. Most of the big FX companies will support the Thai Baht as receiving currency, we recommend the services of Currency Solutions, OFX, Currencies Direct, Halo or Frontierpay. You can compare these companies with our comparison engine to see which one are likely to give you the most attractive quote.
To send money to a bank in Thailand, you’ll need some information about the recipient’s bank details in order to set-up your transaction. Banks in Thailand don’t use the IBAN system so you will have to enter the bank account number of your recipient (usually a ten digit number) as well as the SWIFT (or BIC) code to identify the bank in which your recipient has his account. Sometimes, money transfer operators will allow you to select the name of the bank in a list instead of asking you for the SWIFT code.
In addition, for legal reasons, you will need to give the postal address in Thailand of your recipient (not the address of the bank).