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When you need to send money to Thailand, it can be tricky 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.
Top picks are our selection of some of the best money transfer products and services, based on our extensive research and market experience. Our top picks are displayed at the top of some pages to help you make decisions faster, but our top pick may not be the best pick for you.
Read our full methodology here to find out more.
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 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.
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 aren’t a massively popular currency, but your local bank may be able to exchange them. If your bank does support 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 30 September 2020.
|Digital money transfer service||Cash transfer||Bank transfer|
|Fee||£0||£3.99||£20 + additional correspondent bank fees|
|Exchange rate||1 GBP = 40.43 THB||1 GBP = 39.77 THB||1 GBP = 38.93 THB|
|Transfer speed||1-2 day||Minutes||2-5 days|
|Amount received||THB 60,646||THB 58,868||THB 58,398|
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 THB 2,248 more than the bank offers. The cash option will also 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.
If you don’t have a bank account, you can still use cash transfer services to send money to Thailand. Similarly, a recipient can get the money with a cash transfer if they don’t have a bank account. These services are widely available around the world and although they’ll typically not be the cheapest available, they can be fast and convenient.
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 pound sterling. Because both are relatively stable, the GBP-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 the pound sterling in our historical rate chart.
To send money to Thailand from the UK, 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 the UK to Thailand, you’ll need documentation and details that include:
To pick up money in person, documentation can include:
It shouldn’t cost a fortune to send money to Thailand. Compare money transfer companies that specialise 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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