What’s the Cheapest Method to Send Money to Thailand?

What’s the Cheapest Method to Send Money to Thailand

What will happen if you wire $1000 USD from San Francisco to a relative in Thailand? How much will you get charged?

  1. If you use Travelex, you will lose $123 due to massive hidden conversion rates, the biggest loss despite having 0 upfront charge.
  2. Using banks will generally cost around $25 to $40, with $10 to $20 hidden exchange rates, which is still not good.
  3. While Transfast and TransferWise have upfront cost, they have none or very minimal hidden conversion rates–which makes them the cheapest option!

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.

Table 1: Sending $1000 from the US to Thailand

Transfer methodFees to send $1000 USDHidden conversion costTotal feesTime for the transfer to arrive
Transfast$5$0$51-3 days
OFX (previously USForex)*$0$7.5$7.51-2 days
TransferWise$15$0$151-2 days
Ria Money Transfer (slow)$5$23$283-5 days
1st Contact Forex$10$19$291-3 days
WorldRemit$5$25$301-3 days
Xpress Money$17$20$373-5 days
Ria Money Transfer (fast)$15$23$38Minutes
Skrill$10$40$503-5 days
MoneyGram (slow)$5$51$561-3 days
Western Union (slow)$5$53$581-3 days
Wire transfer$25-40$10-20$35-603-5 days
Western Union (fast)$10$53$63Minutes
MoneyGram (fast)$20$51$71Minutes
MoneyMoveIT$5$114$1191-3 days
Travelex$0$123$1233-5 days

Note:

  • Minimum transfer of $500 for OFX (previously USForex).

Table 2: Sending £1000 from the UK to Thailand

Transfer methodFees to send £1000 GBPHidden conversion costTotal feesTime for the transfer to arrive
UKForex*£0£7.5£7.51-2 days
TransferWise£15£0£151-2 days
Azimo£1£20£211-3 days
WorldRemit£4£23£271-3 days
Western Union£15£16£31Minutes
1st Contact Forex£15£17£321-3 days
Exchange4free£0£37£373-5 days
Skrill£8£40£483-5 days
Xpress Money£30£23£533-5 days
Wire transfer£15-25£10-30£25-553-5 days
Travelex£0£61£613-5 days
MoneyGram£27£43£70Minutes

Note:

  • Minimum transfer of £500 for UKForex.

Table 3: Sending $1000 from the Canada to Thailand

Transfer methodFees to send $1000 CADHidden conversion costTotal feesTime for the transfer to arrive
CanadianForex*$0$7.5$7.51-2 days
TransferWise$15$0$151-2 days
WorldRemit*$5$27$321-3 days
Xpress Money$16$21$373-5 days
1st Contact Forex15$23$381-3 days
Exchange4free$0$40$403-5 days
Transfast$5$37$421-2 days
Skrill$29$40$693-5 days
Western Union$30$42$72Minutes
Wire transfer$25-40$20-30$45-753-5 days
MoneyGram$50$44$94Minutes
Travelex$0$127$1273-5 days

Note:

  • Worldremit can only send 995 CAD from Canada to Thailand.
  • Minimum transfer of $500 for CanadianForex.

Table 4: Sending €1000 from the Western Europe (Euro currency countries such as Germany, France, Italy) to the Thailand

Transfer methodFees to send $1000 CADHidden conversion costTotal feesTime for the transfer to arrive
UKForex*€0€7.5€7.51-2 days
TransferWise€15€0€151-2 days
1st Contact Forex€5€19€241-3 days
WorldRemit€5€24€291-3 days
Azimo€3€31€341-3 days
Western Union€5€30€351-2 days
Exchange4free€0€40€403-5 days
MoneyGram€10€39€49Minutes
Skrill€10€40€503-5 days
Xpress Money€28€25€533-5 days
Wire transfer€20-35€20-40€40-753-5 days
Travelex€0€101€1013-5 days

Note:

  • Minimum transfer of €500 for UKForex.

Table 5: Sending $1000 from the Australia to Thailand

Transfer methodFees to send $1000 AUDHidden conversion costTotal feesTime for the transfer to arrive
OFX (previously OzForex)*$0$7.5$7.51-2 days
TransferWise$15$0$151-2 days
WorldRemit$5$24$291-3 days
1st Contact Forex$15$18$331-3 days
Exchange4free$0$40$403-5 days
Western Union (slow)$10$39$494 days
Skrill$10$40$503-5 days
Fast Remit$10$59$692-3 days
MoneyGram$35$42$77Minutes
Travelex$0$80$803-5 days
Xpress Money$60$32$923-5 days
Wire transfer$25-35$30-60$55-953-5 days
Western Union (fast)$70$44$114Minutes

Note:

  • Minimum transfer of $500 for OFX (previously OzForex).

Leave a reply

  1. 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.

  • Mark

    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.
    UpVote Reply 0 Upvotes
  • Josh

    Interesting charts: I'm sure that took a while to set up, so kudos.I've had experience with a number of different <a href="https://www.renegadetravels.com/how-to-send-money-to-from-thailand/" rel="nofollow">cheap ways to do international transfers to Thailand</a>, and these new(-ish) online currency brokers are definitely the way to go.The less overall fees, the better!!
    UpVote Reply 0 Upvotes
  • Ozzi Jarvinen

    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
    UpVote Reply 0 Upvotes
  • What are the Best Options to Send Money to Hungary? https://www.timedoctor.com/blog/2016/02/25/send-money-hungary

    […] This our 26th 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, Turkey and recently, Thailand. […]
    UpVote Reply 0 Upvotes
  • Jennifer www.digitalnomadtravelmag.com

    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.
    UpVote Reply 0 Upvotes
  • Rien www.rienaperdre.net

    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.
    UpVote Reply 0 Upvotes
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