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 that TransferWise is the easiest. Fast, reliable, secure, simple, good rate, with reasonable fees. If you’re interested in sending money to Thailand with TransferWise but unsure where to start, read on to find out.
How to sign up for TransferWise
First thing is to sign up for the service. Go to https://transferwise.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 TransferWise 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 have registered for the service already and would like to send money right away, go to https://transferwise.com/login#/ and click Log in at the top right corner on the web page. Enter your email address and password to log in.
*TransferWise sends money to a bank account of the recipient only. The recipient cannot receive cash/money any other way.
How to send money to Thailand with 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://transferwise.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 other currency). Right under it, you will see the amount that the recipient will receive after fees deduction. You will also see the exchange rate at the moment and the date that the recipient can expect to receive the money. When all is good, click Continue.
In 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 from there if I want to send it to someone else.)
Enter details such as the 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 go with debit card for convenience and lower fees. If you choose bank debit or wire transfer, you may be required to send proof of transfer to TransferWise. Once selected, click Continue to payment to finish the payment process.
Once the payment has been made, you will receive an email from TransferWise stating that they have received your money.
You will receive another email from TransferWise 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 and to view more information.
Process completed. The money should be in the recipient's account next day or within 3-4 days.
This post is also available in: Thai