Although there are many ways for you to send money to Thailand, it can be more expensive than you expect because of the fees involved.
For example, you’ll pay a fee to the sending bank, receiving bank, and for the hidden exchange rate fee when sending money through an international wire transfer.
In this article, we will show you the best way to send money from the United States to Thailand whether you have a bank account in Thailand or not.
If You Have a Bank Account in Thailand
Generally, Wise (formerly TransferWise) is the best way to send money from the U.S. to Thailand. You will usually receive your money in one-to-three business days and the rate is among the cheapest in the industry.
However, when you send large amounts of money to Thailand (US$10,000+), a traditional international wire transfer can be cheaper.
It’s especially true for those who can open an account with Bangkok Bank in New York. You can send money from your bank account in the U.S. to a Bangkok Bank New York branch and have that money redirected to your Bangkok Bank account in Thailand.
In addition, Bangkok Bank is one of the best banks so far when it comes to receiving money from abroad since their rates tend to be better than other banks.
With that said, international wire transfers take between three and five business days before your funds arrive in Thailand.
If You Don’t Have a Bank Account in Thailand.
If you don’t have a bank account in Thailand, you can open a checking account with Charles Schwab. Doing so will give you a debit card that you can use to withdraw money in Thailand for free. Exchange rates are also good. If you want to open a bank account in Thailand, read this article.
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