Sending Money to Thailand 2026: The Cheapest and Fastest Way

This post contains affiliate links. If you book through them, we earn a small commission at no extra cost to you.

Sending money to Thailand from abroad involves three costs: the transfer fee, the exchange rate margin, and any receiving bank fees. The cheapest method varies by sending country and amount, but Wise consistently outperforms traditional bank transfers for most corridors. Understanding the full cost of a transfer, not just the advertised fee, is the key to sending money efficiently.

Wise (Formerly TransferWise)

Wise charges a transparent fee of 0.3 to 0.8 percent of the transfer amount plus a small fixed fee, depending on the currency pair. The exchange rate is the mid-market rate with no margin added. For USD to THB, the total cost on a $1,000 transfer typically runs $8 to $12 all-in. Thai bank receiving fees do not apply to most Wise transfers.

The main limitation is the daily transfer limit, which varies by verification level and country. Fully verified accounts can send up to $1,000,000 per day for most currency pairs. Processing takes 0 to 2 business days for most corridors. GBP to THB and AUD to THB are typically same-day.

Bank Wire Transfers

Traditional bank wires from US, UK, and European banks charge a fixed international wire fee of $20 to $45 plus a margin of 1 to 3 percent on the exchange rate. A $1,000 transfer via a US bank typically costs $40 to $65 all-in, compared to $8 to $12 via Wise. For large transfers (over $10,000), the margin on the exchange rate dominates the cost and makes the bank method particularly expensive.

Thai banks charge a receiving fee of 200 to 500 baht on incoming SWIFT transfers. This applies regardless of which international provider you use. Wise routes around this for their own transfers, which is one practical advantage of their system.

Remitly and Western Union

Remitly offers competitive rates for specific corridors, particularly USD to THB and AUD to THB. For smaller amounts (under $500), Remitly sometimes beats Wise on total cost. The mobile app is user-friendly and speeds are fast. Western Union is useful for recipients who want cash pickup rather than a bank deposit, but the exchange rate margin is among the highest of any service.

| Service | Fee on $1,000 | Exchange Rate | Speed | |---|---|---|---| | Wise | $8-12 | Mid-market | 0-2 days | | Remitly | $3-10 | Mid-market +0.5-1% | Same day | | Bank wire | $40-65 | Mid-market +1-3% | 1-3 days | | Western Union | $5-15 | Mid-market +2-4% | Same day (cash) | | PayPal | $15-30 | Mid-market +3-4% | Instant |

Receiving Money into a Thai Bank Account

Bangkok Bank, Kasikorn Bank (KBank), and SCB are the most commonly used receiving banks for international transfers. All accept SWIFT transfers in foreign currency. Your Thai bank account needs to be a savings account, not a basic passbook account, to receive international transfers at most banks. Some accounts have limits on incoming transfer amounts that require pre-authorization for large transfers.

For expats receiving regular income transfers, maintaining a dedicated Thai account just for incoming transfers simplifies record-keeping for visa financial requirements. The bank can generate a statement showing consistent deposit history, which is exactly what immigration asks for in retirement and LTR visa applications.

Tax on Money Transferred to Thailand

Thailand's Revenue Department updated its rules in 2024 to tax income remitted to Thailand in the same year it was earned. Money transferred from previously taxed savings is generally not subject to Thai income tax. If you regularly transfer current-year income into Thailand, consult a Thai tax advisor about whether you have a filing obligation. The rules are new and enforcement approach is still developing.

Where to Go from Here

For opening a Thai bank account to receive transfers, read how to open a bank account in Thailand. For the Kasikorn Bank process specifically, see opening a Kasikorn Bank account as a foreigner. For using Wise in Thailand for daily spending as well as transfers, read using Wise in Thailand.

Using a Multi-Currency Account

Wise and Revolut both offer multi-currency accounts that hold Thai baht alongside your home currency. This lets you time currency exchanges when the rate is favorable rather than converting at the moment of transfer. If you are comfortable with light currency management, holding 1 to 3 months of living expenses in baht in your Wise account smooths out rate fluctuations and eliminates the need to transfer every month.

The Wise multi-currency account pays a small return on held balances in some currencies. Baht balances do not currently earn interest in the Wise account. For holding larger baht amounts, a Thai bank fixed deposit earns 1 to 2 percent annually, which is low but better than zero. Many expats use the Wise account for transit and their Thai bank fixed deposit for the retirement visa balance requirement.