There are several ways to send money to Thailand. Each with different pros and cons, and amount of fees. I’ve tried many options in the past but I found Wise (formerly TransferWise) to be the easiest — fast, reliable, secure, simple, good rate, with reasonable fees. If you’re interested in sending money to Thailand with Wise but unsure where to start, read on to find out.
How to sign up for Wise
First thing is to sign up for the service. Go to https://wise.com/us and click Sign up at the top right corner on the web page. Enter your email address and desired password, then hit Sign up to confirm. In a few moments, you will receive an email from Wise to confirm your email address, click the button in the email to confirm and that’s it. You are now ready to start using the service!
If you are registered for the service already and would like to send money right away, go to https://wise.com/login#/ and click Log in at the top right corner on the web page. Enter your email address and password to log in.
*Wise deposits money to a bank account of the recipient only.
How to send money to Thailand with Wise (Formerly TransferWise)
- 1. Credit or debit card number or bank info of the sender
- 2. Bank info of the recipient (bank's name, account number, name and address of the recipient)
Go to https://wise.com to sign up or log in. Once logged in, choose Activity menu on the left side.
Click Send money at the top of the web page.
Enter the amount of money that you want to send in USD (or your choice of currency). Right under it, you will see the amount that the recipient will receive after fees deduction. You will also see the current exchange rate and the date that the recipient can expect to receive the money. If everything looks good, click Continue.
On the next page, you'll be asked who you are sending money to. There are 3 options: to yourself (to your bank account in Thailand), to someone else (to their bank account in Thailand), or to business or charity. (For me, I usually send money to my bank account in Thailand and then I'll transfer to another account from there if I want to send it to someone else.)
Enter bank details such as bank's name, account number, and name and address of the recipient. Then click Confirm.
Choose the purpose of the transfer. Normally it's the first option — sending money home for family. Then click Continue.
Choose the option to pay: (1) bank debit, (2) wire transfer, (3) debit card, or (4) credit card. Each has different fees from the lowest to highest. I normally do bank debit for the lowest fee. Once selected, click Continue to payment to finish the payment process.
Once the payment has been made, you will receive an email from Wise stating that they have received your money.
You will receive another email from them stating that they have initiated the transfer. And within this email, you'll find more details of the exact amount of money that the recipient will receive. You can also click on the link provided in the email to track the status of your transfer or to view more information.
Process completed. The money should be in the recipient's account as soon as in a few hours but it could take up to a few days.
This post is also available in: Thai