How to Send Money to Thailand: Methods & Steps

Sending money internationally is common. Advancements in financial technology have made transfers to Thailand from the United States more straightforward. This guide explores the steps and considerations for international transfers.

Essential Preparations Before Sending Money

Before transferring money to Thailand, gather specific information for both sender and recipient. For bank transfers, this includes:
Recipient’s full legal name
Physical address
Phone number
Name of their bank in Thailand
Bank account number
Bank’s SWIFT/BIC code

Some Thai banks may require a three-character bank code before the account number. For cash pickup, the recipient’s name must precisely match the details provided, as they will need to present valid government-issued identification.

Understand the various transfer options. Traditional bank wire transfers send funds directly to a recipient’s bank account. Online platforms and mobile apps offer digital solutions, often with better rates and lower fees. Cash pickup services allow recipients to collect physical cash at designated locations. Each method differs in speed, cost, and convenience.

Choosing a service depends on several factors. Exchange rates are a primary consideration, as they determine how much Thai Baht your U.S. Dollars convert into. Many services mark up the mid-market rate, so compare rates among providers. Fees vary, from fixed charges to percentage-based fees. Account for potential receiving fees charged by the recipient’s bank in Thailand, which can range from 200 THB to 2,400 THB for large transfers.

Transfer limits from services or regulatory bodies influence your choice. Financial institutions must record transfers of $3,000 or more. Transfers exceeding $10,000 must be reported to FinCEN by the institution. Service providers set their own daily, weekly, or monthly limits, which can vary widely. The Bank of Thailand does not limit incoming funds, but transfers over $50,000 USD require the recipient’s bank to report the purpose to the Bank of Thailand.

Transfer speed is another factor. Traditional bank wires take one to five business days. Online services can be faster, sometimes within minutes or hours, though some may take one to three business days. Choose services regulated by U.S. financial authorities, such as FinCEN, which enforces anti-money laundering (AML) and know-your-customer (KYC) regulations. These require verifying customer identities and reporting suspicious activities. Consider convenience, including ease of use of online platforms or mobile apps, and accessibility of physical agent locations for cash pickup.

Initiating Your Money Transfer

After preparing details and selecting a service, initiate the transfer. For online platforms, log in or create an account. Select Thailand as the destination and specify the currency, usually Thai Baht. Enter the amount to send; the platform will display the exchange rate, fees, and the exact amount the recipient will receive.

Next, add the recipient’s details: full legal name, address, and chosen delivery method (bank deposit, cash pickup, or mobile wallet). For bank deposits, enter the recipient’s bank name, account number, and SWIFT/BIC code. Carefully review all information for accuracy to avoid delays or incorrect transfers.

Fund the transfer using various payment options. You can pay by:
Bank transfer from your U.S. bank account
Debit card
Credit card
ACH (Automated Clearing House)
Direct debit

These may have different processing times and fees. After confirming, the service provides a confirmation, often with a tracking number.

For traditional bank wire transfers, initiate the process at your bank branch or through online banking. Provide the recipient’s full name, address, bank name, account number, and SWIFT/BIC code. The bank will inform you of their exchange rate and transfer fees, typically $25 to $50 per transaction. After authorization, your bank will process the request.

For cash pickup services like Western Union or MoneyGram, visit an agent location or use their online platform. Provide sender and recipient details, specify the amount, and pay the total including fees. Upon payment, you will receive a tracking number (e.g., MTCN) for the recipient to collect funds. Verify all details before finalizing to ensure a smooth transfer.

Tracking and Receiving Funds in Thailand

After initiating the transfer, monitor its progress and keep the recipient informed. Most online services provide a tracking number or unique transaction ID. Use this number on the service provider’s website or app to check the real-time status.

The recipient may receive notifications about incoming funds via SMS or email alerts when money is ready or deposited. The sender can also communicate the tracking number and expected arrival time.

How the recipient accesses funds depends on the delivery method. For bank deposits, funds appear directly in their Thai bank account; no further action is needed. For cash pickups, the recipient must visit an authorized agent location (e.g., bank or money transfer outlet). They need to present valid identification (e.g., Thai ID card or passport) and the tracking number (MTCN) to the agent, who verifies identity and details before releasing cash.

Recipients should be aware of any specific requirements or potential fees. Transfers exceeding $50,000 USD into Thailand require the recipient’s bank to report the purpose to the Bank of Thailand. While most online services do not charge the recipient, some Thai banks may levy a small fee for receiving international wire transfers. If issues arise, both sender and recipient should contact customer support, providing the tracking number and transaction details.