Lady sending money to Thailand

How to send money to Thailand

If you’re looking for the best ways to send money to Thailand, you’ve come to the right place. Discover the pros and cons of the different methods of transferring money to Southeast Asia’s second-largest economy.

Remittances in Thailand

For many families in Thailand, receiving money from relatives based overseas remains an important lifeline for everyday costs. The official currency of Thailand is the Baht, or Thai baht, and is represented by the “THB” abbreviation or the “฿”, or “บาท” symbols. 

Thanks to modern technology, there are now an array of options for sending remittances in Thai baht directly to locations like Bangkok, Phuket and more. With that said, what’s the best way to send money to loved ones in Thailand?

Transfer money to Thailand with your bank

Banks might seem like an obvious option but they’re usually not the best way to transfer money overseas. And sending money to Thailand is no exception. 

At first glance, most banks do offer low transaction fees for international money transfers. However, poor exchange rates often tilt the transfer, i.e. the profits, in their favour. 

Then there are receiving bank and SWIFT transfer fees to pay  – which aren’t always advertised upfront. 

Finally, a combination of bureaucratic red tape and outdated practices mean that you should avoid using your bank to transfer money to Thailand if better options are available.

Send money to Thailand with PayPal

PayPal is known for its simplicity, but it can be an expensive way to send money to Thailand. That’s because, on top of their exchange rate mark-up and transfer fees, PayPal also charges a 3-4% currency conversion fee

Often mistaken for a foreign transaction fee, a currency conversion fee is an extra cost charged for what is really just a calculation. Imagine looking at your supermarket receipt and realising you’ve been charged a ‘till calculation fee’ in addition to your shopping, and you’ve got the idea. 

Send money to Thailand with Western Union, Remitly or Moneygram

If your recipient in Thailand doesn’t have a bank account or prefers to pick up Thai baht (THB) in cash, Western Union, Remitly and Moneygram all offer this option. Cash pick-up may be the most convenient option for your recipient, but it can also be expensive. 

That’s because their service fees and exchange rate margins push up the total cost of the transfer. 

Despite this, Western Union and Moneygram have the best coverage of all the regions in Thailand. That’s great news if you’re sending money to remote areas of the country. 

Use a money transfer service to send money to Thailand

Thanks to innovative technology, digital providers usually offer a faster, cheaper way to send money abroad than banks and high street providers.

Services like TransferWise, Ria and Skrill all offer excellent features, payment and pick-up options to meet the growing demand for remittances in Thailand. 

So if money transfer services are the best option for sending money to Thailand, which of those options offer the best service? 

Send money to Thailand with Azimo

Azimo is the best way to send money to Thailand. In fact, you can save up to 95% versus other providers and banks

But don’t just take our word for it. According to World Bank data*, Azimo is the cheapest way to transfer money to Thailand. That’s because our exchange rate compares favourably to the mid-market rate, i.e. the fair exchange rate, and our fees start at just £0.99p.

*Taken from Q3 data 2020

From Bangkok Bank to Siam Commercial Bank (SCB), Azimo only works with the most trusted banks and financial institutions in Thailand. Coupled with the best encryption and anti-fraud technology, your money is safe with Azimo every step of the way.

If you need to send money to Thailand in a hurry, our transfers to most major Thai bank accounts are instant, even at weekends. Use our award-winning app to set up currency alerts for the THB so you always know the best time to send money. 

How to send money to Thai bank accounts with Azimo 

Whether you’re sending money to family in Thailand or making payments to a business supplier in Thailand, take care when filling out their information. A misspelling or wrongly entered digit could delay your transfer – so it’s always best to double-check. For Thai bank accounts, please make sure you’ve checked:

  • The recipient’s full name. 
  • The recipient’s address – not the bank’s address.  
  • The 10-digit bank number. 
  • The correct bank from the drop-down menu. As Thai banks don’t use IBANs, we ask you to choose the bank instead of using a SWIFT or BIC Code.
  • That their account can accept the amount of THB you’re sending.
  • The company name if you’re making a business payment.

NB: Most Thai 10-digit bank account numbers are in this format: 123 – 4 – 56789 – 0

How to send money to Thailand as a mobile top-up with Azimo 

Mobile top-up is a feature available on the Azimo app. You can top up the recipient’s mobile phone from wherever you are, giving them minutes for phone calls and text messages. 

Top-ups are especially helpful for those extended long-distance chats with family and friends back home. To cater for all budgets, we offer top-ups in the following amounts: 

  • 100 THB
  • 150 THB
  • 200 THB
  • 300 THB
  • 400 THB
  • 500 THB
  • 800 THB
  • 1,000 THB.

And to cover as much of the country as possible, we partner with Thailand’s most popular mobile phone networks including:

  • AIS Thailand
  • True Move H Thailand 
  • DTAC Thailand.

Top tips:

When using the mobile top-up feature:

  • The Thailand country code is +66, which is pre-selected in the app.
  • Most Thai mobile numbers are 10-digits long and begin with 06, 08 or 09.
  • For the number 08-XXXX-XXXX, remove the ‘0’ then add 8-XXXX-XXXX to the country code.

Discover a faster, cheaper way to send money to family and friends in Thailand. Download the app on iOS or Android and start transferring funds today. Get your first two transfers fee-free (five for Azimo Business customers) and at a great exchange rate.