5 Best Ways to Send Money to Thailand in December 2023 (2024)

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Best ways to send money to Thailand

Compare money transfer services to Thailand

To help you find the best provider for your international money transfer to Thailand, we'vecompared 5 services, ranking them from least to most expensive, taking into accounttransfer fees and exchange rates.

• Money transfer services compared: 5 services
• Currently the cheapest:XE
• Cheapest cost: $60.00 USD
• Currently the fastest:Wise
• Fastest time: 0-2 Days
• Currently best rated:XE
• Money transfer companies included: XE, Wise, CurrencyFair, OFX, Remitly

What is the cheapest way to send money to Thailand?

When you are looking for cheap ways to send money to Thailand it’s important that you calculate thetotal cost of your USD to THB transfer.

XE, the cheapest option, has aUS Dollar/Thai Baht exchange rate of 34.6459 and a fee of60.00 USD.

This would save you 61.93 USD compared to Remitly, who has a fee of121.93 USD.

You'll want to pay attention to both the upfront fee the provider shows you as well as theUS Dollar/Thai Baht exchange rate.

Often providers will claim to be a cheap international wire transfer provider, with low, or even no fees, but inreality they're hidden within the exchange rate. Right now, US Dollar/Thai Baht interbankrate is 34.855. Whenever you compare fees for transferring money to Thailand, it can payoff to look at the exchange rate they offer.

Finding alternative ways to transfer money to Thailand shouldn't be hard, we've puttogether a list of cheap ways to send money to Thailand to help you with your search.

For example, most traditional banks add a hidden markup to the exchange rate they offer you. If 1USD is 34.855 THB, your bank can adda 3% exchange rate markup and give you a rate of $ 1 =35.901 ฿

• XE is the cheapestoption, with a USD/THB exchange rate of 34.6459. Theirfees to transfer money to Thailand is 60.00 USD
• Wise offers aUSD/THB exchange rate of 34.8550. Theirfees to transfer money to Thailand is 67.38 USD
• CurrencyFair offers aUSD/THB exchange rate of 34.5570. Theirfees to transfer money to Thailand is 89.08 USD
• OFX offers aUSD/THB exchange rate of 34.4374. Theirfees to transfer money to Thailand is 119.81 USD

What is the fastest way to send money to Thailand?

Typically sending money to Thailand will be much faster using a money transfer company comparedto a bank that can take 3-5 working days. That’s because banks usually process international moneytransfers through the SWIFT network. This system involves passing a payment through severalintermediaries, which slows the process down. Money transfer companies have often built their ownnetworks to process payments faster – which can even mean your money is deposited instantly into yourrecipient’s account.

The fastest provider in our table to transfer money to Thailand isWise – 0-2 Days.

Learn more about instantways to transfer money overseas here.

What is the best rated provider to transfer money to Thailand from the United States?

Of the 5 providers we found for transferring money to Thailand, here's howthey stack up in terms of number of reviews and average score:

How to wire money to Thailand?

You've got a few key options if you need to send money to Thailand:

Wire transfer to Thailand – most banks will let you send moneyinternationally online, by visiting a branch or by phone. Payments to THB will be sentdirectly from your bank account to your recipient's local bank account in your chosen currency.

Walk into a branch – several specialist money transmitter services operate throughlarge branch and agent networks, so you can visit a physical store and make your THBpayment in cash if you want to.

Send money onlineto Thailand – if you'd rather make yourUSD/THB payment online or using your smartphone, you can chooseyour own bank's online banking service, or an international payment specialist. Specialist services canoften offer better exchange rates and lower fees than banks.

Cash pickup – sending a payment for cash pickup can often be the fastest way to getyour money into your recipient's hands. It's also usually one of the most expensive because it'sbeing prioritized and can even be instant. For example,if you need your recipient to pick up cash in to Thailand, you could use Remitly, and it may cost you$121.93 USD.

How to send money to another bank account in Thailand

Sending money to another bank account to Thailand is often the most convenient option – both foryou, and your recipient. Your recipient doesn't need to take any action to receive the money, it just landsin the nominated account in the currency you choose, and can be spent or withdrawn easily.

If you're sending money from a bank account in the United States to a bank accountin Thailand, choosing a specialist provider can be the cheapest and fastest way to make yourpayment. Different providers have their own processes for arranging payments – but the steps you'lltake are usually roughly the same:

• 1

  Create an account
  Register a new account with your preferred service, byentering your contact details and some basic information. You may even be able to do this using Facebookor Google for convenience.

• 2

  Verify
  Depending on the type of payment you're making, you may needto verify your account by uploading an image of your ID documents. This step helps keep your money safe,and is often a legal requirement.

• 3

  Top up
  Add money to your account in dollars, using a bank transfer or cardpayment.

• 4

  Add recipient details and send
  Once you're ready to send a payment,add your recipient's personal and bank account details, check the exchange rate and fee applied toyour payment, and confirm. That's it – your money will now be sent, and you can track itsprogress online or in your provider's app.

Ways to pay for your money transfer to Thailand

Different money transfer services offer different options to fund your international money transfer. Luckily,you have plenty to choose from.

Typically bank transfer is the cheapest payment method, which is why it’s the method we use to compareproviders on Exiap. Let's take a look at a few payment options for sending money from the United States to Thailandwith these providers:

Best app to send money to Thailand

Provider	Website
Wise
XE
Remitly
OFX
CurrencyFair

Details needed to send money to Thailand

The details you'll need to send money internationallyfrom the United States to Thailand may vary by provider, and based on the value of thetransfer. At a minimum, whenever you make an international bank transfer you will typically be asked for:

Best way to send large amounts of money to Thailand from the United States

When you’re sending a high value payment it’s especially important to do your research and find a providerwhich is safe and which offers low fees and great exchange rates. It’s also well worth comparing someproviders based on transfer times, as the delivery time can also vary pretty widely.

Some international money transfer services offer discounts for high value transfers, either through lowerfees or a better exchange rate. Use the Exiap cost comparisoncalculator to make sure you’re getting the very best deal available for your specific transfer.

How to send large amounts of money to Thailand

While sending a high value payment works very similarly to sending any other transfer overseas, the providermay require additional information to verify the payment. You might be asked to prove the source of thefunds, for example, to comply with local and international financial services legislation. If you’re sendinga large amount of money you’ll also need to make sure the provider you’ve picked can support the amount, asmaximum payment limits may apply.

Here’s how to send a large sum of money internationally with a specialist international money transferservice:

• 1

  Create an account
  Register a new account with your preferred service

• 2

  Verify
  Verify your account by uploading an image of your ID documents

• 3

  Add the transfer information
  Including the value and currency

• 4

  Add recipient details
  Add your recipient’s personal and bank account details

• 5

  Fund your payment
  Make a local bank transfer, use your card or pick another supported payment method. Your moneywill be on the move as soon as it’s been received by the provider.

Safest way to send money from the United States to Thailand

The safest way to send money to Thailand is to select a provider which is properlyregistered and regulated both in the United States and Thailand. There are many globalregulators around the world, and it’s common for international money transfer providers to be registeredand regulated by dozens of different bodies, depending on where they operate.

In United States for example, you’ll usually find providers are registered with the Financial CrimesEnforcement Network (FinCEN), and they may also need to hold a state license depending on how they’re set up.

International money transfer limits to Thailand

There is no legal limit on how much money can be sent to or from the United States, although banks and otherpayment providers may impose their own limits. Money transfer limits can vary quite widely betweenproviders, and may also change depending on how you want to fund your transfer. You could find differentlimits in place when you pay by card compared to paying using a bank transfer, for example.

USD/THB exchange rate trends

As with many currencies, the USD/THB exchange rate moves overtime, due to changes in supply and demand. Exchange rate fluctuations can be caused by underlying shifts inhow well the economy in United States or Thailand is doing, changes in political stability, oreven simple speculation, where traders buy or sell currencies based on how they think trends are going tochange.

Right now, 1 US Dollar buys 34.855 Thai Baht.

International bank transfer fee to Thailand

To send moneyto Thailand using one of the international money transfer providers in our tables, the fees rangefrom 60.00 with XEto 121.93 with Remitly(but the fee could be even higher with a bank). The exact cost depends a lot on where you’resending money, how much you’re sending, how you want to pay, and how you want the payment to be received.

Typically sending money directly to a recipient’s bank account using a specialist service can be done withfairly low costs, while traditional bank transfer fees can be higher. Paying for your transfer with either acredit card or cash can often mean the fees crank up, too.

When you’re sending money internationally, don’t forget that the overall fee you pay can include the transferfee, an extra charge wrapped up in the exchange rate used, and third party charges like a cash advance feefrom your credit card issuer.

Best money transfer rate to Thailand

The best rate available to send money to Thailand will usually be the mid-market exchange rate. Themid-market exchange rate is the rate used when banks buy and sell currencies on global markets.

However, this rate isn’t always available to individual customers sending money abroad. Instead, providersoften add a markup – an extra fee – to the exchange rate they offer customers. This pushes up the costs andmakes it harder to see exactly what you’re paying for your international bank transfer.

A provider which uses the mid-marketrate for international transfers from the United States to Thailand is Wise.Right now, the mid-market rate for a US Dollar to Thai Baht is 34.855.

How long does a bank transfer to Thailand take?

The length of time it takes to transfer money to Thailand depends on a variety of factors includingthe provider you use, how you’re paying, and how you want your recipient to get the money in the end.

From the providers that we display, the fastest international money transfer provider to Thailand isWise, which can deliver the money toyour recipient in Thailand in 0-2 Days. The slowest provider to sendUSD – THB is XE, which takes2-3 Days to send money to Thailand.

Send money online with a credit card or debit card

Some specialist international money transfer providers do offer the option to fund transfers with a creditcard or debit card. Paying for your transfer with a card can mean your funds are received quickly, so theprovider can deposit the payment into the recipient’s account faster. However, this often comes withadditional fees which might make it more expensive than paying by bank transfer.

Here’s a handy list of providers that support card payments:

Conclusion

When it comes to choosing the best provider for sending moneyto Thailand from the United States, it really depends on what your needs are.

The cheapest provider shown in our comparison table isXE and the fastest isWise. If the transfer time is what you'reinterested in, then Wise is the fastest to transfer money to Thailand.Wise can get your money to your recipientto Thailand in 0-2 Days.

If safety is what interests you the most when it comes to picking the best international money transferprovider to Thailand, then all the providers we listed above are regulated by different financialinstitutions and should be safe to send money to Thailand with.