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How Expats Send Money to Thailand (2025 Guide)

ByVisitorInfo

Sending Money to Thailand

1. SWIFT Transfers – The Traditional Bank Method

SWIFT transfers are the long-standing standard for international money transfers. They involve sending funds from a home bank to a Thai bank via the SWIFT network.

Advantages:

  • Widely accepted and reliable.
  • Required for legal transactions such as purchasing property in Thailand.
  • Provides a “Foreign Exchange Transaction Form” for condo purchases under the Condominium Act.

Drawbacks:

  • Multiple fees: sending bank, intermediary banks, and receiving Thai bank.
  • Poorer exchange rates due to hidden markups.
  • Slow processing time (1–4 business days).

Best Use Case: When buying real estate or when legal proof of international transfer is required.

2. Wise – The Modern Digital Alternative

Wise (formerly TransferWise) has become the preferred choice for many expats thanks to its transparency and efficiency.

Advantages:

  • Uses the real mid-market exchange rate (the same you see on Google).
  • Low, upfront fees with no hidden markups.
  • Fast transfers, often completed within hours.
  • Multi-currency accounts allow expats to hold and convert balances.
  • Wise debit card allows direct spending in Thailand and ATM withdrawals without currency conversion fees.

Case Study: A transfer of 1,000 CAD via SWIFT resulted in about 22,450 THB received, while using Wise provided 23,912 THB. This means a savings of 1,600 THB (~6%) on just one transaction.

Best Use Case: Daily living expenses, regular transfers, and cost-efficient money management.

3. ATM Withdrawals – The Quick Fix

Many newcomers initially use their foreign debit cards at Thai ATMs.

Advantages:

  • Immediate access to cash in THB.
  • Convenient for short-term stays or emergencies.

Drawbacks:

  • Thai ATMs charge 150–220 THB per withdrawal.
  • Home banks may add additional fees.
  • Exchange rates are usually poor if using the ATM’s currency conversion (always decline this option).
  • Withdrawal limits: typically 20,000–30,000 THB per transaction.

Best Use Case: Short visits, emergency cash needs, or as a backup option.

4. Carrying Cash – Old School but Practical

Some expats still choose to bring physical cash when traveling back and forth.

Advantages:

  • No bank involvement, potentially favorable exchange rates when using Thai money changers.
  • Convenient for those who dislike banking systems.

Drawbacks:

  • Risk of theft or loss.
  • Limits: Thailand allows undeclared entry of up to $15,000–20,000 USD. Most Western countries only allow $10,000 USD undeclared on departure.
  • Not practical for frequent or large transfers.

Best Use Case: Occasional large cash infusions for people who travel frequently between Thailand and their home country.

Conclusion

For most expats, Wise offers the best combination of transparency, low cost, and speed. SWIFT transfers remain necessary for legal property purchases, while ATMs and cash serve as useful backups in specific scenarios. Choosing the right method depends on your lifestyle, the size of your transfers, and whether you need legal documentation.

Wise is not be the best way to withdraw from ATM’s, but it is really easy to receive and send money to people and businesses with multiple currencies.

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