Cheapest way to send $2000 from USA to Thailand recipient?

[Cheesekraft]

Is western union, bank wire, or moneygram the best way?

[manfredtillmann]

transferwise.com

[drtreelove]

I recommend Western Union, if you send to recipients bank account in Thailand.

It takes a week for transfer to process, but you get a better exchange rate than "money in minutes", and lower transaction fee. I just sent $460 to my step-daughter this way. The exchange rate was 35.3256 thb per dollar, and the transaction fee was $8. Not every WU terminal does this, but Safeway customer service desk near my home in California does. You need the recipients name, address, phone, bank name and account number, (no routing number or bank address needed). You need cash only on your end, WU policy is cash and no debit or credit card. (This may vary, as I used a debit card once, but next time back to that desk I was told cash only, that the previous agent made a mistake in accepting debit card.)

Once you have sent the money, you notify the recipient of the tracking number (MICN) and amount receivable in Thai baht. It will show up in their bank account, in 6 or 7 days.

I recommend using Bank of Ayudhya if you have a choice, they are a designated WU bank in Thailand and they are accustomed to this process. Some banks which are not regulars with WU may put up resistance and require jumping through hoops to receive the money. If you do this regularly it pays to set up an online account with WU.

If you don't have a week to wait for bank transfer, you can send by 'money in minutes', but you will give up some on the exchange rate (about 33 thb right now) and pay a higher transaction fee. But as the name of the service indicates, the money is available at any WU desk in Thailand within a matter of about 10 minutes.

I've tried MoneyGram and it was more affordable until WU became more competitive. MoneyGram also has online accounts so you can do from home, or maybe from smart phone if you are so inclined.

Bank wire transfer is about $45 transaction fee at Bank of America or Wells Fargo last I checked a couple of years ago.

I am not familiar with the other service mentioned.

[55Jay]

If the recipient has or can open a Bangkok Bank account (or you have one he/she has access to in your absence), then go to your US bank internet banking and set up a domestic ACH transfer using Bangkok Bank's New York address and routing number, using the account number in Thailand. See link, compare and contrast to what suits your needs. Once you set up the external account link between your US bank and the US branch of Bangkok Bank, subsequent transfers are convenient.

http://www.bangkokbank.com/BangkokBank/PersonalBanking/DailyBanking/TransferingFunds/TransferringIntoThailand/ReceivingFundsfromUSA/Pages/ReceivingFundsfromUSA.aspx

[bagnthi]

xendpay

[Rob13]

I'm headed back to the US in a couple of weeks, you can give it to me and I'll take care of it for you.

[manfredtillmann]

xendpay

just compare the x - change rates..

plus, transferwise is a local deposit, no added fees for overseas transactions, you can loose as much as thb 1000 for a single A$ 1000 transaction with the other ones...

[gk10002000]

Western Union is easy. Curiously, the last time I did it, the fees were less if I went down the street to the grocery store, instead of just doing it online at the western union web site. I have sent money to Thailand and the Philippines using Western Union. Make sure the Thai person gives names on her ID, and not her nickname like Pop, Nit, Nok etc. that they all tend to go by. Of course get the city they will be in when they go to collect the money. Send the transaction code or number thing that Western Gives you. I saw a poster here say it took one week, but I am sure the money I sent got there quicker than that.