Advertorial Make Money Transfers Effortless & Affordable

[ASEAN NOW Sales]

Make Money Transfers Effortless & Affordable

 

When it comes to financial matters in Thailand, expats are subject to a steep learning curve with banks that typically involves the words “Mai dai” and is as arduous as it sounds. From the slow, paperwork-heavy process of opening an account to the equally bureaucratic procedure for trying to send money back to your country of origin, Doi Inthanon is less of an uphill battle than Thai banking administration.  

 

Which is why, when faced with the combination of dense documentation, slow approval times, and odds-on rejection, we turn to fellow expats for clarity, information, and help. And so, the subject of how best to wire money home comes up often on Thai expat forums—from ThaiVisa.com to Facebook and beyond. It’s a familiar post that is almost tedious for some in its repetition because so far, there hasn’t been a cost-effective, transparent option available.  

 

 

But no more! Simply share this article with any future perplexed inquirers that you come across. Help them out of the darkness and into the light with information about choosing the right digital money transfer provider. Yes, PayPal would work, BUT both you and your recipient will be charged a fee for the transaction on top of a hefty exchange commission. Choose better, choose DeeMoney instead.

 

Many digital money platforms suggest that they will offer the exact type of international transfer that you need to wire money abroad from Thailand. However, this isn’t always true and your options are limited by high fees and hidden transaction charges with traditional money transfer models. Here’s a comparison of the top five digital money platforms for making global transfers. The table also highlights which ones actually allow you to send THB currency.  

 

 

Transfer Company	Send THB	Details	Transfer Fee Amount
	✅	From balance or linked bank account.	$4.99 (Approx. 163THB) + Fixed Fee depending on the receiving country. Plus, Recipient pays fees to receive funds from 2.9 - 5.4%.
		From another payment method.	$4.99 +3.4% + Fixed fee.
	✅	Once registered as a DeeMoney Member, you can send THB from the DeeMoney application. Credit your transfers: Directly from your Thai bank Via a unique QR code Through the KPlus app At an ATM	150THB ONLY to 17 countries across the globe including the USA, the UK, and Australia.
	—	Technically, online transfers can only be made through Western Union from pre-registered bank accounts with: Bank Of Ayudhya Krung Thai Bank	The transfer fee increases as the remittance amount does—BOA starts at 250THB. Bank Of Ayudhya Krung Thai Bank (Info not available online)
Hifx	❌	Money is exchanged into a Pound Sterling account before transfer.
	❌	TransferWise’s Borderless account does not support the upload and transfer of THB.

 

 

Fully-developed FinTech company, DeeMoney is uniquely positioned as the ONLY non-bank entity based in Thailand to hold the required special international money transfer and money exchange licenses for wiring Thai baht abroad. All approved and issued by the Bank of Thailand. DeeMoney is also offering an industry-first flat-fee of just 150 THB per transaction for amounts starting from 1,000 to 800,000 THB to 17 countries across the world.

 

Outside of the straightforward one-time registration process, there are no forms to fill in to send money to an international account. Just download the DeeMoney mobile application from the iTunes store or on Android and enter your recipient's details to make your first transfer in seconds. Send money from your phone any time, anywhere, and make huge savings on your international salary remittance transactions. Make your money transfers effortless and affordable.

 

 

[robertson468]

What about transfers from overseas banks to Thai Bank?

 

[AAArdvark]

22 minutes ago, robertson468 said:

What about transfers from overseas banks to Thai Bank?

 

Transferwise

[hugh2121]

2 hours ago, robertson468 said:

What about transfers from overseas banks to Thai Bank?

 

OFX

[gamini]

I tried to use this service. But I have to take my ID card and a filled in form to one of their branches in Bangkok. Since I live just south of here and it is not practical for me to go to Bangkok. Any ideas how I can get around this?

[NoshowJones]

42 minutes ago, gamini said:

I tried to use this service. But I have to take my ID card and a filled in form to one of their branches in Bangkok. Since I live just south of here and it is not practical for me to go to Bangkok. Any ideas how I can get around this?

Use Transferwise, so easy.

[LucysDad]

10 minutes ago, possum1931 said:

Use Transferwise, so easy.

 

 

+1

[Sheryl]

1 hour ago, gamini said:

I tried to use this service. But I have to take my ID card and a filled in form to one of their branches in Bangkok. Since I live just south of here and it is not practical for me to go to Bangkok. Any ideas how I can get around this?

You can apply online. I did. They will email you forms and you send them back along with scanned ciopy of your passport etc. Quite easy.

[Sheryl]

18 minutes ago, possum1931 said:

Use Transferwise, so easy.

Cannot be used to transfer money OUT of Thailand AFAIK. For thta, Dee Money is indeed the best method I know of. Easy and affordable.

 

For transferring into Thailand, TW works fine - but be advised it may not always show in your bank statement as a foreign transfer, which is an issue if you are doing extension of stay based on retirement or if you later need to  repatriate the funds.  Probably not impossible in those cases but will be more complicated as you'll have to get the TW documentation and then explain to/convince Thai officials that this is the same money  as what shows in your bank statement as a domestic transfer.

 

 

[NoshowJones]

2 minutes ago, Sheryl said:

Cannot be used to transfer money OUT of Thailand AFAIK. For thta, Dee Money is indeed the best method I know of. Easy and affordable.

 

For transferring into Thailand, TW works fine - but be advised it may not always show in your bank statement as a foreign transfer, which is an issue if you are doing extension of stay based on retirement or if you later need to  repatriate the funds.  Probably not impossible in those cases but will be more complicated as you'll have to get the TW documentation and then explain to/convince Thai officials that this is the same money  as what shows in your bank statement as a domestic transfer.

 

 

Yes, true, excellent point Sheryl.

[Sheryl]

I should have said, doing extension of stay based on retirement using the monthly income method. A non-issue if using the 800K method.

[cracker1]

37 minutes ago, LucysDad said:

 

 

+1

+2

Edited January 29, 2019 by cracker1
ERROR