Transferring money to Thailand

If you want to transfer money from your foreign bank account to a Thai account, you will need the following information: 

  • the name of the account-holding Thai bank
  • the address of the Thai bank - it is sufficient in many cases to just give the name of the town (this information is not always required)
  • BIC or SWIFT address of the Thai bank
  • the name of the account holder and the account number
  • the address of the account holder (this information is not always required)

Once you have entered all the data in the transfer template, you must now specify if the cost of the transfer by the client (ie yourself ) is covered by you, or shared between you and the receiver, or if the receiver covers the entire cost. Here it is advisable to choose the cost-sharing option, since experience shows that the receiver is still charged even if you select the option that the client pays the costs .

Usage: here, you enter the purpose for transferring the money. This information may be important in certain circumstances, e.g. if you support dependents in Thailand and would like to declare these expenses for tax purposes.

Next, the transfer currency must be established. Here you would usually choose the local currency of the home country (e.g. GBP or EUR), since otherwise the conversion to the THB might have a less favorable rate .

Current exchange rates of the Euro, US Dollar, British Pound and Swiss Franc to the Thai Baht

Finally, you can now choose whether you want the standard transfer offered by SWIFT, or faster processing for a higher fee .

The cost of a transfer to Thailand varies from bank to bank. Many banks offer the opportunity to carry out money transfers to non-European countries by internet banking .

Alternatives to the system outlined above are offered by Western Union, Paysbuy or Skrill.

Banks in Thailand - Chart of Thai banks

Banks and Money in Thailand - all important information at Udon-News

posted on: 11.02.2014 - last update on: 26.05.2015

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User comments

At 07/18/2014 - 19:38 wrote guest
Thank you.

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