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How to send money to Thailand
Understand what your options are when transferring funds to Thailand.
Whether you’re sending money back home or conducting business in Thailand, you’ll want to find the best service possible.
This guide will help you get the most Thai baht for your dollar by comparing the services you can use and showing you what you should keep an eye out for.
Compare services that send money to Thailand
You can use the table below to compare services and products that let you transfer money to Thailand.
Using the table headings, you can compare minimum transfer amounts, fees and more. If you’d like to know more about a product, click “More info”. If you want to open an account, click “Go to Site” to get started.
Disclaimer: Exchange rates change often. Confirm the total cost with the provider before transferring money.
What’s the best way to send money to Thailand?
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.
Digital money transfer services
Companies like SingX and InstaRem specialise 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.
Cash transfers
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.
Banks
Thai baht are a popular currency, 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 crunch the numbers: Sending $10,000 to Thailand
Let’s say you need to send $10,000 to family in Thailand. Here’s what you might face as far as fees and exchange rates as of 3 Jan, 2021
| Digital money transfer service | Cash transfer | Bank transfer | |
|---|---|---|---|
| Fee | 0.00 HKD | 8.00 HKD | $65 + additional correspondent bank fees |
| Exchange rate | 1.00 HKD = 3.8450 THB | 1.00 HKD = 3.8296 THB | 1.00 HKD = 3.7890 THB |
| Transfer speed | 1-2 day | Minutes | 2-5 days |
| Amount received | 38,450.21 THB | 38,265.83 THB | 37,643.715 THB |
| 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 cash transfer service, your recipient ends up with 807 THB more than the bank offers. The cash option will also get your money there the fastest, often in a few minutes or less.
What are the other ways that I can send money to Thailand?
- Bank transfers. Many major US banks will allow you to send money to Thailand.
- Money transfer providers. Providers like WorldRemit and Wise can help you quickly and easily transfer your money online.
- Providers with cash pickup. Western Union and MoneyGram allow you to send funds for cash pickup at agent locations.
- PayPal. Electronic payment giant PayPal allows you to send money from Hong Kong to Thailand.
- Checks and money orders. Although not a quick option, you could send an international check overseas, obtained from your bank or Hong Kong Post.
How to send money to Thailand through an online service
Sign up and send money with a digital money transfer specialist in four steps:
- Sign up for a free account. Pick a provider and sign up for a free online account using your contact information, proof of ID and preferred payment method.
- Provide transfer details. Submit your recipient’s contact information and pick a delivery method. If transferring to a bank, you’ll need their Thai bank account details.
- Confirm transfer details. Double-check your payment method, expected fees and destination.
- Save your receipt. Record your receipt’s confirmation number to track the progress of your transfer to Thailand. Some money transfer providers send a text or email when your transfer is complete.
How to get the most out of your money transfer to Thailand
Weigh costs and fees against convenience to learn how to compare money transfer providers that send to Thailand to best meet your needs:
- Exchange rates. The HKD-THB relationship fluctuates often, so using a service that allows you to lock-in exchange prices may help you save money down the line if the Thai baht rises against Hong Kong dollar.
- Transfer fees. Transferring money overseas nearly always requires fees, but they might be hidden in the exchange rate. When sending large amounts, it may be cheaper to pay a flat fee to secure a stronger HKD-THB exchange rate.
- Transfer limits. How much you can send varies by company, and different amounts can attract higher or lower fees. Shop around for the best deal on the amount of Thai baht you’re sending to Thailand.
- Turnaround. Transferring money through a local bank can take a business week or longer. If you need the funds delivered quickly, seek out a digital specialist that offers instant transfers to Thailand.
- Sending limits. Comparing prices for one large transfer instead of many small transfers is typically easier, so picking the service you use based on how much you’re sending is a valid strategy for saving money.
- Transfer methods. Whether you want money sent to a Thai bank account or picked up as cash at a local agent, narrow down a company that matches your preferred delivery method.
Emergency cash transfer to Thailand
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.
How to send money to Thailand without a bank account
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.
Thailand’s exchange rates explained
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 HK dollar. Because both are relatively stable, the HKD-THB relationship typically doesn’t make sharp movements. Factors that influence the exchange rate include interest rates, economic stability and inflation.
Documents needed for sending to and receiving money in Thailand
To send money to Thailand from Hong Kong, you’ll need a government-issued ID and other documents, while documents needed to pick up money in Thailand may be different by company.
Documents to send money from Hong Kong
To send money from Hong Kong to Thailand, you’ll need documentation and details that include:
- Identification. Most services require a driver’s license, passport or other government-issued ID.
- Payment method. Your service may accept credit or debit cards, cash, bank accounts or personal checks.
- Recipient information. Submit your recipient’s name as it appears on their ID, along with their phone number, Thai bank account and routing number.
Documents to receive money in Thailand
To pick up money in person, documentation can include:
- Transfer number. The person sending you money can forward the transfer’s confirmation details — called a PIN, a MTCN, a reference number or a tracking number, depending on the company.
- Government-issued ID. A Thai Passport, Thai ID or similar official ID may be required to pick up your transfer..
- Amount sent. You may need to know how much was sent, usually within 10% of the total.
- Sender’s information. Take along your sender’s full name, the sending country and their address, if known.
Bottom line
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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