Recommended Method to Send Money from Thailand

While it’s easy to send money to Thailand, sending money out of Thailand is another story.

This is because you cannot use Wise or many other popular money transfer services.

And sending money via traditional bank transfer isn’t a good option for a small amount of money because of the fixed transfer fee.

In this article, we will guide you through recommended options to send money from Thailand.

DeeMoney

DeeMoney works similarly to Wise. After you set up an account, you can send money from Thailand to supported countries. Transfer speed varies by destination and payout method.

DeeMoney’s transfer fee varies by destination and payout method and is shown before you confirm the transaction.

In addition to the transfer fee, DeeMoney uses its own exchange rate, in which the rate differs between each currency.

Based on our observations, DeeMoney has a really good rate for USD, which is near the mid-market rate, while the exchange rate for EUR, AUD, and CAD is more expensive.

Therefore, if you want to send money from Thailand to the United States, you can keep using DeeMoney regardless of the amount.

For other currencies, it might be an option for an amount less than THB100,000. Otherwise, it might be cheaper to send with a traditional bank transfer or KrungThai Warp.

KrungThai Next

KrungThai Warp is basically a multi-currency wallet offered by KrungThai Bank.

The whole idea is similar to the Wise multi-currency account where you can exchange Thai baht for supported foreign currencies. International transfer speed varies by destination and currency.

One of the best things about KrungThai Warp is the exchange rate, which can be better than traditional bank transfers and DeeMoney, depending on the currency.

However, KrungThai Next charges a transfer fee that varies by destination, currency, and promotion.

Therefore, for sending a small amount of money, DeeMoney may be a better choice. However, for a greater amount, KrungThai Warp should be better.

Sometimes, KrungThai Next has a promotion decreasing its transfer fee, making it a really good option for sending money from Thailand. Check the current fee in the app before making a transfer.

One of the biggest problems of KrungThai Next is that you need to have a KrungThai bank account, which might not be possible for expats. Being a state-owned bank, it’s more of a challenge to open a KrungThai bank account than other private banks as expats.

So some expats just ask their partner to open a KrungThai bank account, and use it to apply for KrungThai Warp for international transfer.

How About Traditional Transfers?

Many people disregard traditional transfers believing that it’s the most expensive method. Actually, that’s not always the case.

Sending money from Thailand through Thai banks usually has a fixed fee of around THB500 to THB1,600 depending on which bank you choose. This makes it an expensive choice if you send a small amount of money.

However, if you send over THB100,000, it might be cheaper than other methods.