International Money Transfers
How expats and travellers actually move money to and from Thailand — and how much it really costs
Why This Matters More Than You'd Think
Most foreigners moving money to or from Thailand overpay for it without realising. The traditional bank SWIFT route — the one your home bank's website still pushes you toward by default — costs roughly 3–5% of the transfer amount in combined fees and FX margin. On a 20,000 USD transfer to buy a condo deposit, that's 600–1,000 USD in costs, much of it absorbed into a deliberately bad exchange rate that doesn't show up as a 'fee' anywhere in the transaction confirmation. Modern fintech providers — Wise, DeeMoney, Revolut, Remitly — typically run 0.4–1% all-in, including the FX margin, for the same transfer.
The practical rule is: for any transfer up to 50,000 USD, use Wise (or its closest competitor) and move on. Wise's transfer caps vary by currency and country pair but cover the vast majority of expat use cases — monthly salary remittance home, paying for a condo deposit, sending money to family. For larger transfers — typically property purchases above 50,000 USD or pension lump sums — you'll need a Thai bank SWIFT wire because of cap restrictions. The premium you pay (a few thousand baht on a multi-million baht transfer) is the cost of access to a regulated, fully-documented channel that Thai authorities accept as proof of source-of-funds for property registration and visa applications.
Going the other direction — sending money out of Thailand — is harder and more regulated. Routine personal transfers up to roughly 50,000 USD per calendar year flow easily through your Thai bank's online platform, with the bank asking for proof of source-of-funds (recent payslips, tax returns, the original FET certificate from a property sale). Above that threshold, Bank of Thailand documentation kicks in. Wise can sometimes facilitate outward transfers if you hold a Thai bank account it can debit, but for amounts that matter (property sale proceeds, big pension transfers home) the most reliable path is your Thai bank's SWIFT facility, slow and expensive but guaranteed-compliant.
Provider Comparison
Wise
0.4–0.8% all-in
Minutes to 2 hours
The default cheapest option for amounts up to 50,000 USD per transfer. Mid-market rate plus a small percentage fee, no hidden FX margin. Online and app-based, no in-person required. Best for: USD, GBP, EUR, AUD, SGD into Thai bank accounts.
DeeMoney
0.5–1% all-in
Same-day to 1 business day
Thai-licensed remittance provider, particularly strong for incoming USD and SGD. Often slightly cheaper than Wise for Singapore-to-Thailand corridors. Less polished UX than Wise but settled fully into Thai PromptPay rails.
Revolut / Remitly
0.5–1.5% all-in
Minutes to 1 day
Competitive for retail-sized transfers, especially from the EU and the UK. Revolut metal/premium accounts get extra-low fees but require a monthly subscription. Remitly has a fee structure that's transparent but variable by amount.
Thai Bank SWIFT
3–5% all-in
1–3 business days
Bangkok Bank, SCB, KBank, and Krungsri all accept SWIFT wires. Expensive due to fixed fees + FX margin, but the standard channel for amounts above 50,000 USD where most fintech caps apply. Reliable, paper trail, accepted as proof of source-of-funds for property purchases and visa applications.
Tax note (post-Jan 2024)
Thailand now taxes foreign-sourced income remitted into the country by Thai tax residents (anyone present 180+ days in a calendar year). Funds for property purchases, gifts, and income covered by a double-taxation treaty may be exempt, but rules are still settling. Keep records of every transfer, the source of funds, and the date the income was originally earned, and consult a Thailand-licensed accountant before the first year you bring in significant sums.