When it comes to financial matters in Thailand, expats are subject to a steep learning curve with banks that typically involves the words “Mai dai” and is as arduous as it sounds. From the slow, paperwork-heavy process of opening an account to the equally bureaucratic procedure for trying to send money back to your country of origin, Doi Inthanon is less of an uphill battle than Thai banking administration.
Which is why, when faced with the combination of dense documentation, slow approval times, and odds-on rejection, we turn to fellow expats for clarity, information, and help. And so, the subject of how best to wire money home comes up often on Thai expat forums—from ThaiVisa.com to Facebook and beyond. It’s a familiar post that is almost tedious for some in its repetition because so far, there hasn’t been a cost-effective, transparent option available.
But no more! Simply share this article with any future perplexed inquirers that you come across. Help them out of the darkness and into the light with information about choosing the right digital money transfer provider. Yes, PayPal would work, BUT both you and your recipient will be charged a fee for the transaction on top of a hefty exchange commission. Choose better, choose DeeMoney instead.
Many digital money platforms suggest that they will offer the exact type of international transfer that you need to wire money abroad from Thailand. However, this isn’t always true and your options are limited by high fees and hidden transaction charges with traditional money transfer models. Here’s a comparison of the top five digital money platforms for making global transfers. The table also highlights which ones actually allow you to send THB currency.
|Transfer Company||Send THB||Details||Transfer Fee AmountAll logos are free to share and use even commercially and all info is publically available online.|
|✅||From balance or linked bank account.||$4.99 (Approx. 163THB) + Fixed Fee depending on the receiving country. Plus, Recipient pays fees to recieve funds from 2.9 – 5.4%.|
|From another payment method.||$4.99 +3.4% + Fixed fee.|
|✅||Once registered as a DeeMoney Member, you can send THB from the DeeMoney application.Credit your transfers:||150THB ONLY to 17 countries across the globe including the USA, the UK, and Australia.|
|—||Technically, online transfers can only be made through Western Union from pre-registered bank accounts with:||The transfer fee increases as the remittance amount does—BOA starts at 250THB.|
|❌||Money is exchanged into a Pound Sterling account before transfer.|
|❌||TransferWise’s Borderless account does not support the upload and transfer of THB.|
Fully-developed FinTech company, DeeMoney is uniquely positioned as the ONLY non-bank entity based in Thailand to hold the required special international money transfer and money exchange licenses for wiring Thai baht abroad. All approved and issued by the Bank of Thailand. DeeMoney is also offering an industry-first flat-fee of just 150 THB per transaction for amounts starting from 1,000 to 800,000 THB to 17 countries across the world.
Outside of the straightforward one-time registration process, there are no forms to fill in to send money to an international account. Just download the DeeMoney mobile application from the iTunes store or on Android and enter your recipient’s details to make your first transfer in seconds. Send money from your phone any time, anywhere, and make huge savings on your international salary remittance transactions. Make your money transfers effortless and affordable.