Money Transfer in and Out of Thailand is a Big Concern for Foreigners Living In Thailand. International Money Transfer for Expats is one of the most important things that they need to settle when they arrive.
In this Article, we will be showing you the Best and most convenient Ways available for Money Transfer in and Out of Thailand.
Money Transfer from Thailand to Overseas
International Transfers from Bank to Bank
Same as in any other Country, You can do an International Bank Transfer from Thailand to oversaes. There is a Fixed Fee Per Transaction (550 Thai Baht), no matter how much the amount you are Sending to overseas, This fee will be applied. When Doing the Transaction, The Bank will ask you whether you want the Receiver to Pay for the receiving fee or you want to pay for them in advance on your behalf.
How Long does it take for the Money to reach the receiver’s Bank Account?
It takes an average of 3 to 7 Days. (Sometimes less and Sometimes more, depending on the Country’s Public Holidays and weekends)
How to do the Transfer?
You can do the Transfer either online through the Bank Mobile application, or you can go to the Bank Counter and do it face to face with the Bank Agent.
The regulations for Sending the amount through the Bank’s Mobile app differ from a Bank to another. For Example, SCB Bank allows you to do the Transfer 24/7, however, You can only do it for Specific Countries, and not to all countries around the Globe. While Bangkok Bank from the Other Side, allows you to Send to Any country around the World, but you can only do the transfer through the App until 5 PM Bangkok Time.
Therefore, You need to check these details with your Bank in advance for accurate and updated information on How to use their Mobile Application.
Deemoney is one of the Leading Thai Transfer companies allowing you to Transfer money from Thailand to Several Countries Overseas. It has been awarded by the Bank of Thailand in 2017 the Non-Bank International Money Remittance Service License, Money-Exchange License and the E-Payment License.
The Fees that Deemoney Charges for International Transfer to Overseas is Cheaper When Compared to Sending the Money through international Bank Transfer.
The Countries that Deemoney Allows you to Transfer the Money to are:
- Hong Kong
- San Marino
- Sri Kanka
- United Kingdom
- United States
Cuex is a Platform Combining Several Money Transfer Platforms together. You can Simply Add the Country where you are Sending the money from, and the Country of Receiving the Money, Then Add the amount that you want to transfer. Then, You can Press Continue and the Platform will show you the available Platforms allowing you to do this transaction based on the Details that you have inserted, and also it will be highlighting the Payment Methods that each Platform Accepts (Credit/Debit Card or Bank Transfer).
Among the Platforms that CUEX is connected with, we can Mention: Skrill, Currencies Direct, Moneycorp and Torfx.
Money Transfer from Overseas to Thailand
There are Several Ways that you can use to send Money from Overseas to Thailand, and these methods depend from a country to another.
There is one Payment Method that we recommend as it Makes Transfers Smoother and Faster when compared to other Money Transfer Methods.
This Method is Wise.com
Wise is an Online Platform (Formerly Known as Transfer wise), it’s allowed to be used in many countries around the world (You can check the List of the countries on their Website).
You simply need to create an Account on the Platform, then Either Link it with your Bank account or Charge it with the amount that you want using your Debit/Credit card.
After that, You can Add the receiver’s Details (Name, Bank Account Number, address..etc), Then Wise will tell you the Estimated Time of Arrival.
After you confirm the Transfer, Wise Generates a Tracking Link for the Transaction which Confirms that the Amount is on its Way to the receiver and they also give the Expected time of arrival. You can share this link to the receive for their reference.