Low cost International money transfers from Thailand
Read this article on low cost international money transfers Thailand options available. Thaibahts.org does not represent any financial institution anywhere. Links to relevant money transfer options are provided. We do not promote any particular organization. Information here is solely for your knowledge, check with the service providers for further details. please leave a comment and let the world know about more options that you may know.
International Money transfers from Thailand can be easy and cost effective if you use the right options.
If you need to send money almost instantly to anywhere then you can use
Send money from Thai banks
The other option is bank transfer usually with a fixed charge of around 1200 bahts is charged and it can take up to 3days. Kasikorn bank has special deals on transfers to some countries. They offer same day transfer from their branches all over Thailand. This is convenient and they are found to be more international in their service orientation. Most banks in Thailand have a English language call center.
Using debit cards to transfer money from Thailand
Some expats from Asian neighbors like Philippines and India send their international debit cards to their country. They deposit money in their Thai bank accounts and then ask friends or relatives to withdraw from an ATM. This works well. It is very cost effective. The exchange rates are reasonable and there is a onetime withdrawal charge of about 220 THB and local charges.
Fastest way to transfer money to India from Thailand
When transferring money through Moneygram, try CIMB, they have a lower tranfer fee. CIMB also has speedsend – the instant money transfer service to India. Sometimes, it takes a few hours depending on your Indian bank. I used Federal bank in India and the money went to my account instantly.
They charge only 250 bahts to send 300-50,000 bahts. Speedsend to Philippines costs only 150 bahts for 300- 50,000 bahts. The receiver does not pay anything. It works much like moneygram or westernunion.
learn more about speedsend. It is available for transfers within south east Asia. Check with the bank.
Transferring money to India has all the above options and Indian overseas bank in Bangkok. They offer transfers to all Indian bank accounts.
Online international money transfers Thailand.
Money transfers online from Thailand can be done through very few channels. I have researched and signed up for many services that offer online money transfers but they either need the person to be present or may not transfer to all destinations. Verified online money transfer methods are wire transfers from internet banking on Bangkok bank, Kasikorn bank, Siam commercial, CIMB, TMB and others. However, to add international payee details you would have to submit forms and destination bank details at a branch. So it is not online end to end.
Online international money transfers using Pay pal from Thailand is convenient and is completely done online, just add a card or a bank account to your Pay pal profile and transfer to anybody with a paypal account. This method does not need your presence at a bank. Paypal is very convenient method for online money transfers from Thailand to Philippines, USA, Canada, UK, Australia, New Zealand and anywhere where paypal is not restricted. Pay pal cannot be used to send money from Thailand to India. Online money transfers from Thailand to India is virtually impossible.
I was impressed with their professional looking website that offers free transfers over 10,000 NZ dollars. There is no minimum limit so you can send any amount, their charges were reasonable at $15 per transaction. This site requires ID documents like passport and utility bills to be uploaded, they would take 24-48 hours to approve transfers. Excellent foreign exchange rates. Overall very impressive service. The only catch is you have to upload funds to the currencyonline account to be able to transfer them. That is as good as transferring money directly to your destination. I will post further reviews whenever they have easier cash upload options.
A great way to send money online to anyone primarily in Europe. The site did not show any options to transfer money within Asia. Another drawback is the time it takes to upload funds by bank transfer. It could take up to 3 days! but once you have funds uploaded the transfer itself is instant. You cannot use Skrill as a online money transfer system instantly. However if you order a Skrill card and send one to whoever you send money to frequently. Certainly useful and cheaper than western union when it comes to money transfers Thailand
Western Union and Moneygram have multiple agent locations in Thailand but you cannot use them to transfer money online. A visit to their agent or location is necessary.
Neteller is a completely online service is awesome and instant way to transfer money in several international currencies, It is totally legal and works like a charm. They allow money transfers instantly and free however there may be a small charge for withdrawing money from an account.
How does Neteller work?
1. Sign up
2. load your account with cash using a debit/credit card.
3. Transfer money for free no transfer charges! transfer using email address of the recipient. The recipient needs to have a neteller account if they dont they will be asked to sign up for free. It takes only a few minutes to sign up.
To withdraw money from a Neteller account you can either get a Net+ prepaid master card from them or enter bank account details to have it wired.
Neteller limits the amount you can load or transfer until you are verified. Submitting ID documents on their site is all it takes to get verified and then the transfer limits are much higher. International money transfer to India from Thailand is instantly done on Neteller. The recipient has to pay 550 INR to withdraw the money and have it wired to his Indian bank account from Neteller.
Philippine, Indian, Cameroon and other expats in Thailand can easily use this option. It is fast, it is cheap and it is legal. Please post a reply in comments below and let us know how it worked for you. I would rate Neteller service higher than most other online portals. I think they are good competition to Pay Pal.