When you need to send money to Thailand, it can be difficult to know the best way to get the most out of converting your dollars to Thai baht. Whether you want to use a money transfer service or going through a bank, this guide will help you get your money where it needs to go.
An online money transfer service with cash pick-up, bank account to bank account and airtime transfers available.
Use our comparison calculator to assess transfer fees, exchange rates and other details for sending funds to the Philippines with a money transfer service.
Online money transfer providers typically offer the strongest exchange rates and lowest fees on money transfers to Thailand. Some offer cash pickup in as little as a few minutes, while others seamlessly transfer to bank accounts. Sending money through PayPal or your bank is also an option, but you’ll typically face higher fees and weaker exchange rates when going that route.
Companies like XE and OFX specialize in foreign currencies, making them some of the most cost-effective transfers. Most offer transfers directly to your recipient’s Thai bank account, often in as little as a day or two.
Services like MoneyGram and Western Union allow you to transfer cash for pickup at a local branch in Thailand— often in 15 minutes. While it’s a fast way to send money, you’ll pay for the convenience in weak exchange rates and high fees.
Thai baht are not a popular currency, but your local bank may be able to exchange them. If your bank supports Thai baht, beware of high fees and wide margins on the exchange rate compared to digital and other options when sending a wire transfer to Thailand.
Let’s say you need to send $1,500 to family in Thailand. Here’s what you might face as far as fees and exchange rates as of October 1, 2020.
| Digital money transfer service | Cash transfer | Bank transfer | |
|---|---|---|---|
| Fee | $0 | $3.99 | $50 + additional correspondent bank fees |
| Exchange rate | 1 CAD = 23.5154 THB | 1 CAD = 22.8028 THB | 1 CAD = 21.8341 THB |
| Transfer speed | 1-2 day | Minutes | 2-5 days |
| Amount received | THB 35,273 | THB 34,113 | THB 31,659 |
| Verdict |
|
|
|
The bank option ends up being both the slowest and gets the smallest amount of money to your recipient in Thailand. If you go with the digital money transfer service, your recipient ends up with THB 3,614 more than the bank offers. The cash option will get your money there the fastest, often in a few minutes or less.
Sign up and send money with a digital money transfer specialist in four steps:
Weigh costs and fees against convenience to learn how to compare money transfer providers that send to Thailand to best meet your needs:
When urgency trumps cost to get your money to Thailand quickly, look for money transfer companies that support cash pickup in minutes. You can pay with a credit or debit card for fast pickup, but fees are higher than other methods.
Cash transfer services can help you if you don’t have a bank account, look for a local company that supports storefronts for cash payments. These services include agent locations in other countries that allow your recipient to pick up cash without a bank account.
The exchange rate determines how much one country’s currency is worth in another country’s currency. When a country’s currency is strong, it yields more money when exchanging it in a country with a weaker currency. Thailand’s exchange rate is flexible compared to the Canadian dollar. Because both are relatively stable, the CAD-THB relationship typically doesn’t make sharp movements. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Track how the Thai baht trades against Canada dollar in our historical rate chart.
To send money to Thailand from Canada, you’ll need government-issued ID and other documents, while documents needed to pick up money in Thailand may be different by company.
To send money from Canada to Thailand, you’ll need documentation and details that include:
To pick up money in person, documentation can include:
Sending money to Thai relatives or family members in Thailand may be subject to taxes on the money transfer, but it depends on a lot of variables. In general, any large transfers being sent from Canada to Thailand should be filed with the CRA to avoid any penalties.
Sending your hard-earned money to Thailand shouldn’t cost a fortune. Compare money transfer companies that specialize in foreign transactions for the strongest rates, lowest fees and flexible delivery. For transfers to other countries, rely on our country specific guides the next time you need to make a transfer.
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how much money can i send to thailand in one transaction
Hi Tony,
Thank you for contacting finder.com , a financial comparison website.
Each different transfer company has their own restrictions on how much they will allow you to send per transfer and these can differ depending on the way you are processing your transfer, use the comparison above to find who would be the best option for you with the amount you wish to transfer and contact them to discuss.
Regards
Jodie