There are currently more safe, efficient and cost-effective ways to send money to Thailand from the United Kingdom than ever before.
How To Send Money to Thailand from the UK
According to governmental statistics, there are more than 39,780 Thai-born residents living in the UK. As well as the 1 million visits to Thailand every year by British nationals, Thailand is now the permanent home to more than 55,000 British expats. Subsequently, there is an unsurprisingly high demand for financial services to support transactions between the two countries.
|Provider||Transfer Amount||Fee||Speed||Visit Site|
|£100||£1||1-4 Business Days||Get a Quote >>|
|£100||£1.64||Instantly - One Day||Get a Quote >>|
|£100||£0||Same day||Get a Quote >>|
Methods to Send Money to Thailand from the UK
Sending Money to Thailand via Online Money Transfer
There are many online services available for transferring funds to Thailand. These tend to offer the best exchange rates. Services such as TransferWise are widely recognised for low transfer fees and the best exchange rate between the British Pound and the Canadian Dollar. In addition to TransferWise, CurrencyFair, Remitly and Azimo are also known for their fast and cost-effective methods.
Sending Money to Thailand via PayPal
You can send money to friends and family in Thailand via PayPal but with certain incurred costs.The fee is typically 0.5% of the amount when it is fully funded by a PayPal balance or PayPal bank account. However, if you use a credit card or debit card as the payment method, the fee is much higher; 3.9% of the amount +11% THB.
Sending Money to Thailand via Bank Transfer
Sending money to Thailand directly via a bank transfer from a UK bank account is not generally advisable as it works out to be more expensive due to non-competitive exchange rates. The transfer charges also tend to be costly.
Sending Money to Thailand via Western Union
Western Union is one of the most widely-used methods for international transfers. They offer the option of sending money online, via mobile payment or in person. The recipient can, in turn, receive the money directly into their bank account or can collect the cash. This is a very cheap way to transfer funds: sending to a bank account is zero-cost transfer free. Sending to an agent location incurs a very small cost of £1.90 and gives the opportunity to collect the cash at over 6,100 locations across Thailand.
Can I Send Money to Thailand via Cryptocurrency?
Cryptocurrency is technically legal in Thailand according to latest legislation however bitcoin exchanges can only take place with a valid Thailand Business Development Department e-commerce license. There are strict guidelines on how to use cryptocurrency in Thailand and it tends to be one of the more complex solutions.
You can send money to Thailand quickly with same-day transactions
Can You Send Money to Thailand For Free?
Depending on the amount, you can send money for free via Western Union if you are sending the funds directly to a bank account. However, this may not necessarily offer the best exchange rate. Sending money via TransferWise is often recognised as one of the cheapest methods. Per transaction, there is a flat fee of 0.84 GBP + 0.51% of the amount that is converted. Thus, the more money sent, the higher the transfer fee. CurrencyFair is also a cost-effective way to transfer funds.
How Long Does It Take to Send Money to Thailand?
Depending on the service provider that you choose to transfer money to Thailand, funds can arrive into the specified account rapidly. Online services such as Remitly, Western Union and TransferWise offer same-day transactions. Bank transfers are typically slower, taking at least 1-3 business days.
What Do You Need to Send Money to Thailand?
For any online payments, you will need all relevant login details and possibly a card reader. Bank transfers offer require a form of photo ID a recent utility bill or proof of address and a payment method (debit or credit card).
Is it Safe to Send Money to Thailand from the UK?
As with any transaction, you should always be careful when sending international transfers. Look out for FCA approval as this means that the accounts are safeguarded. Any legitimate company should have their FCA details readily available on their website. Like with any online payment, you should be careful with any personal security and sharing any confidential information such as passwords. This is especially true for phone and email correspondence.