What will happen if you wire $1000 USD from San Francisco to a relative in Thailand? How much will you get charged?
These numbers speak for themselves. So take note, always check the hidden conversion rates and not the upfront fee. Some banks and online money transfer service entice people by offering zero service charge, yet they more than make up the cost by using ridiculous hidden exchange rates.
Below are tables that contain the most popular options for sending money to Thailand, their upfront rates and their hidden exchange rates. Also, this our 28th post on sending money to other countries. If you want to check out the rest of the post, here are the links: Philippines, Brazil, Australia, Kenya, Mexico, Macedonia, Poland, Egypt, Romania, Indonesia, India, Bangladesh, Ukraine, Bolivia, Serbia, Pakistan, Colombia, Morocco, Chile and Turkey.
| Transfer method | Fees to send $1000 USD | Hidden conversion cost | Total fees | Time for the transfer to arrive |
|---|---|---|---|---|
| Transfast | $5 | $0 | $5 | 1-3 days |
| OFX (previously USForex)* | $0 | $7.5 | $7.5 | 1-2 days |
| TransferWise | $15 | $0 | $15 | 1-2 days |
| Ria Money Transfer (slow) | $5 | $23 | $28 | 3-5 days |
| 1st Contact Forex | $10 | $19 | $29 | 1-3 days |
| WorldRemit | $5 | $25 | $30 | 1-3 days |
| Xpress Money | $17 | $20 | $37 | 3-5 days |
| Ria Money Transfer (fast) | $15 | $23 | $38 | Minutes |
| Skrill | $10 | $40 | $50 | 3-5 days |
| MoneyGram (slow) | $5 | $51 | $56 | 1-3 days |
| Western Union (slow) | $5 | $53 | $58 | 1-3 days |
| Wire transfer | $25-40 | $10-20 | $35-60 | 3-5 days |
| Western Union (fast) | $10 | $53 | $63 | Minutes |
| MoneyGram (fast) | $20 | $51 | $71 | Minutes |
| MoneyMoveIT | $5 | $114 | $119 | 1-3 days |
| Travelex | $0 | $123 | $123 | 3-5 days |
| Transfer method | Fees to send £1000 GBP | Hidden conversion cost | Total fees | Time for the transfer to arrive |
|---|---|---|---|---|
| UKForex* | £0 | £7.5 | £7.5 | 1-2 days |
| TransferWise | £15 | £0 | £15 | 1-2 days |
| Azimo | £1 | £20 | £21 | 1-3 days |
| WorldRemit | £4 | £23 | £27 | 1-3 days |
| Western Union | £15 | £16 | £31 | Minutes |
| 1st Contact Forex | £15 | £17 | £32 | 1-3 days |
| Exchange4free | £0 | £37 | £37 | 3-5 days |
| Skrill | £8 | £40 | £48 | 3-5 days |
| Xpress Money | £30 | £23 | £53 | 3-5 days |
| Wire transfer | £15-25 | £10-30 | £25-55 | 3-5 days |
| Travelex | £0 | £61 | £61 | 3-5 days |
| MoneyGram | £27 | £43 | £70 | Minutes |
| Transfer method | Fees to send $1000 CAD | Hidden conversion cost | Total fees | Time for the transfer to arrive |
|---|---|---|---|---|
| CanadianForex* | $0 | $7.5 | $7.5 | 1-2 days |
| TransferWise | $15 | $0 | $15 | 1-2 days |
| WorldRemit* | $5 | $27 | $32 | 1-3 days |
| Xpress Money | $16 | $21 | $37 | 3-5 days |
| 1st Contact Forex | 15 | $23 | $38 | 1-3 days |
| Exchange4free | $0 | $40 | $40 | 3-5 days |
| Transfast | $5 | $37 | $42 | 1-2 days |
| Skrill | $29 | $40 | $69 | 3-5 days |
| Western Union | $30 | $42 | $72 | Minutes |
| Wire transfer | $25-40 | $20-30 | $45-75 | 3-5 days |
| MoneyGram | $50 | $44 | $94 | Minutes |
| Travelex | $0 | $127 | $127 | 3-5 days |
| Transfer method | Fees to send $1000 CAD | Hidden conversion cost | Total fees | Time for the transfer to arrive |
|---|---|---|---|---|
| UKForex* | €0 | €7.5 | €7.5 | 1-2 days |
| TransferWise | €15 | €0 | €15 | 1-2 days |
| 1st Contact Forex | €5 | €19 | €24 | 1-3 days |
| WorldRemit | €5 | €24 | €29 | 1-3 days |
| Azimo | €3 | €31 | €34 | 1-3 days |
| Western Union | €5 | €30 | €35 | 1-2 days |
| Exchange4free | €0 | €40 | €40 | 3-5 days |
| MoneyGram | €10 | €39 | €49 | Minutes |
| Skrill | €10 | €40 | €50 | 3-5 days |
| Xpress Money | €28 | €25 | €53 | 3-5 days |
| Wire transfer | €20-35 | €20-40 | €40-75 | 3-5 days |
| Travelex | €0 | €101 | €101 | 3-5 days |
| Transfer method | Fees to send $1000 AUD | Hidden conversion cost | Total fees | Time for the transfer to arrive |
|---|---|---|---|---|
| OFX (previously OzForex)* | $0 | $7.5 | $7.5 | 1-2 days |
| TransferWise | $15 | $0 | $15 | 1-2 days |
| WorldRemit | $5 | $24 | $29 | 1-3 days |
| 1st Contact Forex | $15 | $18 | $33 | 1-3 days |
| Exchange4free | $0 | $40 | $40 | 3-5 days |
| Western Union (slow) | $10 | $39 | $49 | 4 days |
| Skrill | $10 | $40 | $50 | 3-5 days |
| Fast Remit | $10 | $59 | $69 | 2-3 days |
| MoneyGram | $35 | $42 | $77 | Minutes |
| Travelex | $0 | $80 | $80 | 3-5 days |
| Xpress Money | $60 | $32 | $92 | 3-5 days |
| Wire transfer | $25-35 | $30-60 | $55-95 | 3-5 days |
| Western Union (fast) | $70 | $44 | $114 | Minutes |
I have always used Western Union using my bank or credit day and takes 4 days. Cost 2.90 GBP and todays exchange rate is 42.55 THB UKForex exchange rate today is 43.78 (so based on sending 100GBP then 123 Baht difference), Unless you need money to happen instantly (WU is 12.90 GBP) found this a reasonalble way of sending money to family and friends.
Table above looks to be out of touch with todays rates.
Interesting charts: I’m sure that took a while to set up, so kudos.
I’ve had experience with a number of different cheap ways to do international transfers to Thailand, and these new(-ish) online currency brokers are definitely the way to go.
The less overall fees, the better!!
We have used Bangkok Bank NY branch to transfer money to Thailand and that has worked well.
http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx
We have had success using a prepaid credit card to get the best value. CaxtonFX is the one we’ve been using as it has no atm fee and good exchange rates.
Check out Xendpay (https://www.xendpay.com/)
You can choose the amount of the fees you are willing to pay and the exchange rate is pretty close to mid-market rate.