Fact checked
When you’re wanting to send money to family or friends in Thailand, it’s important to be on the lookout for cheap exchange rates, low fees and a simple transfer process. Compare a range of international money transfer providers here with Savvy to help you find the best exchange rates and lowest fees available. Consider a range of options with us before getting your international money transfer underway today.
OFX |
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Special Offer: 5 fee free transfers (saving you up to $75 in fees) + preferential rates for international money transfersMore details |
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Enjoy $40 bonus on your first money transfers of $250 & above! Use code*: SAVVY20X2 (Minimum transfer of AUD 250 Valid till 31st August 2023)More details |
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Xe |
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Xe is a 2021 Canstar Award Winner and offers the best exchange rates, low to no fees so customers save the most moneyMore details |
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Western Union Money Transfer |
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Send money to over 200 countries and territories across the world onlineMore details |
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Wise Money Transfer |
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Send money cheaper and easier with Wise with no hidden fees.More details |
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TorFX |
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Excellent exchange rates with no transfer fees. Trusted by over 325,000 customers. Awarded Canstar’s 5 star rating 2018-2021.More details |
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Currencyfair |
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Send money overseas at better exchange rates, with no hidden fees.More details |
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Remitly |
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Remitly offers fast, safe and secure money transfers with excellent rates to over 100 countriesMore details |
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Revolut |
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Fast and easy, with super competitive rates across all major currencies. Join 25+ million customers saving on global transfers.More details |
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Disclaimer: Savvy is not advising or recommending any particular product to you. We provide general information on products for the purposes of comparison, but your personal situation or goals are not considered here. Although we try to make our comparisons as thorough as possible, we do not have information on all products on the market on our site.
If you decide to initiate a money transfer with one of the providers listed above via our website, you will not be dealing with Savvy; any applications or enquiries will be conducted directly with the provider offering that product.
There are many ways to send money to Thailand. Your options include:
Specialist international money transfer providers
International money transfer services move funds over international borders without the money going through the international banking system. Money transfer service companies can transfer money faster and more cheaply than banks can, offering lower fees and markups on exchange rates. They can typically get money to your destination within two days, if not the same day or even instantly within seconds. Savvy works with a trusted range of international online money transfer providers offering you the most reliable way to transfer money overseas.
Cash transfers
Some international money transfer providers can send cash overseas almost instantly for it to be collected by someone at the other end. This can be very useful if you need to transfer money fast in an emergency. However, instant cash transfers aren’t available with all providers, or to all destinations, and they aren’t the cheapest way to send money overseas. Often higher fees are charged for cash transfers, and the exchange rate on offer may not be the most competitive.
International phone app accounts
Another type of international money transfer method is opening an international account on a phone app with a company such as Wise. Using your international account, you can transfer money directly to your contact in Thailand through their mobile phone (if they have the same app installed) or to their bank account. These accounts also allow you to exchange your Australian dollars for Thai baht when the exchange rate is strong and store the baht in your account online until you want to send it to Thailand. This could potentially save you hundreds of dollars in an environment where the exchange rate is moving against you.
PayPal and Xoom
PayPal’s international payment system Xoom isn’t yet available to Australians who want to transfer money to other countries in Australian dollars. However, if you open an international account through a specialist transfer provider, you could transfer money into US dollars, British pounds or Euros and send these to Thailand. However, Xoom will provide a less competitive exchange rate compared to money transfer specialists and you may also face delays getting the money transferred from a Xoom account to a bank account.
Phone top-ups or recharges
Another option to send money to someone in Thailand is by using a phone top-up (also known as a phone recharge or reload). However, the exchange rate you will receive to send your transfer will often be lower compared to an international transfer company, and the fees charged by telcos can be more expensive. Additionally, money sent in the form of a pre-paid phone recharge can’t be used as freely as cash can.
Bank transfers
You could use your traditional bank to send money overseas. However, the fees charged for this service will be higher, with up to $30 or more charged in some cases, and there’s no guarantee you’ll receive the best exchange rate. Also, it may take from three to five days for your money to arrive at your destination, whereas transfer providers can be completed instantly, on the same day or within two days. In almost all cases, specialist international money transfer services will get your money to Thailand more quickly and at a lower cost than your bank can. Get a quote and compare rates before booking your transfer through Savvy today.
When it comes to international money transfers, specialist providers charge either a percentage of your transfer amount as a fee, which is typically 0.4% to 0.65%, or a set fee, which can be up to $15. However, if a fee is charged by a transfer provider, the exchange rate you’ll be offered will likely be far better than that offered by banks, with some providers even transferring money at the mid-market rate. This represents the best exchange rate at any point in time. As such, you should always aim to get a transfer as close as possible to the mid-market exchange rate.
Whether you use a transfer company that charges a percentage fee or a set fee, will also determine how much your transfer will cost. In general terms, set fees are better for larger transfers (such as over $5,000), whereas percentage fees often prove to be cheaper for smaller transfers of $5,000 or under. For this reason, when comparing transfer providers, it’s important to look at the fee structure in conjunction with the exchange rate on offer.
Look at the following table to see how exchange rates and fees affect how much money will be received in Thailand if you send $500, on a day when the mid-market exchange rate is AUD $1 = THB 25.6193.
| Fee charged AUD $ | Exchange rate offered | Recipient receives | Difference in amount received | |
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Provider #1 |
$10 (set fee) |
24.5536 |
12,031.26 |
THB -695.13 |
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Provider #2 |
$9 (set fee) |
24.6566 |
12,106.39 |
THB -620.00 |
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Provider #3 |
$2.25 (0.45% fee)
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25.1831 |
12,534.89 |
THB
-191.50
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Provider #4 |
$3.25 (0.65% fee) |
25.6193 |
12,726.39 |
N/A - best result |
* Note: calculations are made by subtracting fees from the transfer amount. Exchange rates aren’t necessarily representative of current market rates.
These are other factors to take into consideration when comparing international money transfer services to find the best way to send money overseas:
There's no need to pay a dollar to compare money transfer services with Savvy, as you can do so for free at any time.
You can compare offers with competitive exchange rates, fees and transfer speeds in minutes with us.
We're partnered with trusted and licensed money transfer companies to bring more quality to your comparisons.
Use Savvy to compare international money transfer providers until you find one which is just right for your needs. From there, you can choose your provider from our panel of trusted partners. Comparing with Savvy is free, so check back in as often as you like before you arrange each money transfer to ensure you’re getting the best deal.
Supply your name and email address to receive a link to follow to open your transfer account. This may either be via a website or by downloading a mobile app from your favourite app store. You’ll be asked to provide at least one form of government-issued ID to prove your identity as you open your account. This will usually be your passport or driver’s licence. Some transfer services have a minimum age limit of 18 years.
Specify who you want to send the money to in Thailand and how the funds will be received. This could include being sent to a bank account, via a cash pickup, sent to a digital wallet via a mobile phone number, or through a phone transfer app or a phone recharge.
Check the details of your transfer are correct before sending, as it’s difficult to cancel a transfer if there’s a mistake made. Once your transfer has been sent on its way, keep the transfer or receipt number at least until you receive confirmation that the money has been received in Thailand.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
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For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
© Copyright 2024 Quantum Savvy Pty Ltd T/as Savvy. All Rights Reserved.
Quantum Savvy Pty Ltd (ABN 78 660 493 194) trades as Savvy and operates as an Authorised Credit Representative 541339 of Australian Credit Licence 414426 (AFAS Group Pty Ltd, ABN 12 134 138 686). We are one of Australia’s leading financial comparison sites and have been helping Australians make savvy decisions when it comes to their money for over a decade.
We’re partnered with lenders, insurers and other financial institutions who compensate us for business initiated through our website. We earn a commission each time a customer chooses or buys a product advertised on our site, which you can find out more about here, as well as in our credit guide for asset finance. It’s also crucial to read the terms and conditions, Product Disclosure Statement (PDS) or credit guide of our partners before signing up for your chosen product. However, the compensation we receive doesn’t impact the content written and published on our website, as our writing team exercises full editorial independence.
For more information about us and how we conduct our business, you can read our privacy policy and terms of use.
