Cheapest Way to Transfer Money Out of Thailand

In the past, options for transferring money out of Thailand were fairly limited, but with modern banking technology slowly catching up in Thailand, it's becoming much easier.

Once you understand the fees involved and the time it takes for each method, you can make a decision on what's best for you.

In this post, I'll give you an overview of the options – their lead times, fees and sending limits – plus a a few exchange comparisons to help you decide on the most practical, cost-effective option.

What's the Best Way to Transfer Money Out of Thailand?

Today, the four main options for moving money out of Thailand are:

1. Wise
2. Direct Bank Transfer (SWIFT)
3. Western Union
4. DeeMoney

There is a fifth option, and that is cryptocurrency, but since most people aren't going to want the complexity or volatility involved, I won't be covering it here.

In this post, I'll break down the fees, exchange rates, lead times and transfer limits for each option so you can decide which works best for your situation.

1. Wise

Wise is now one of the most attractive ways to send money out of Thailand.

Previously, Wise was mainly useful for transferring money into Thailand. However, under Wise’s new Thailand entity, customers with Thai-registered Wise accounts can now send Thai baht abroad directly from:

• A Thai bank account
• Their Wise THB balance

This effectively puts Wise in direct competition with traditional bank SWIFT transfers and services like DeeMoney.

Fees:

Wise uses the mid-market exchange rate — the real exchange rate you see on Google — and charges a transparent transfer fee separately.

This is important because many banks and remittance companies advertise low fees while quietly building extra profit into the exchange rate itself.

Wise’s fees vary depending on:

• The currencies involved
• The amount being transferred
• The payment method used

However, in most cases, Wise is likely to work out cheaper overall than banks or Western Union once the exchange rate markup is taken into account.

Important Caveat:

Under the new Thailand system, some transfers will involve two currency conversions instead of one.

For example:

• USD → THB → SGD
• USD → THB → USD

Wise says this can increase the total transfer cost in certain cases.

Exchange Rate:

This is where Wise stands out.

Wise uses the mid-market exchange rate with no hidden markup.

For comparison:

• Traditional banks often add a hidden spread to the exchange rate
• Western Union typically builds substantial markup into the rate
• DeeMoney is usually better than Western Union, but still not true mid-market

On larger transfers, the exchange rate difference alone can save thousands of Baht over time.

Lead Time:

Many Wise transfers are completed within minutes or a few hours, though some destinations can take up to one business day.

Sending Limit:

Wise currently states that outward remittances from Thailand are limited to:

• 800,000 THB per day

+ Not got a Wise account? Get one here

2. International Bank Transfer (SWIFT)

SWIFT international bank transfer is a great if you have a Thai bank account with one of  the following banks:

• Bangkok Bank
• Siam Commercial Bank
• Kasikorn Bank
• Krungsri Bank
• Krungthai Bank

Fees:

Fees will vary from bank to bank, the country you are sending to, and in some instances the type of account you have, be that personal or business banking.

Bangkok Bank (using the app), for example, charges 0.25% of the transfer value, with a minimum 200 Baht and maximum 500 Baht per transaction.

You can also send via Western Union through the Bangkok Bank app and at branches, if you have an account. It costs 1,200 Baht for a 70,000 Baht transfer, and 300 Baht for every additional 30,000 thereafter.

Kasikorn Bank charges are the same as Bangkok Bank.

Documentation:

Please note that in an earlier version of this article I wrote here that banks in Thailand require you to state the source of funds when sending money abroad. I refer to the following rule:

The Bank of Thailand requires every commercial bank to obtain documents from customers outlining the reasons for sending the funds abroad before completing the transaction

For example, the Bangkok Bank website states that it requires you to fill out this application form.

However, I was recently informed by a reader that no such documentation was required when he transferred 200,000 Baht from his Bangkok Bank account to his account in Europe via the app.

Rather than being asked for documentation, he received a message stating:

The international funds transfers service complies with official regulations from the Bank of Thailand and the AMLO Office and the Bank may require additional information from you.

It may be that if you make multiple transfers in a short period of time, or you transfer very large amounts, the system will flag a transaction and request further details.

Lead Time:

A SWIFT transaction can take 1-5 days, depending on the bank, so if you want cash to arrive immediately, see the next option.

Sending Limit:

The maximum amount you can transfer out of Thailand is determined by the Bank of Thailand, depending on the source of funds and/or the purpose of payment, including supporting documents.

3. Western Union

Western Union is the most popular remittence service, trusted the world over.

They offer instant transfers by cash and bank transfers that take 2-5 days.

Fees:

Western Union is best priced for sending moderate amounts of money.

For example, you can send 40,000 Baht to the US or UK for a fee of 850 Baht. But on small amounts such as 2,500 Baht, you will pay 400 Baht. The fee reflects the instant nature of the transfer.

You can use WU online or on via their app, or through a bank provider or high street booth.

One thing to consider is the exchange rate fee.

WU makes money on the exchange rate and doesn't give you the mid-market rate as one might expect.

At today's rate, sending 50,000 THB from Thailand to the United Kingdom would result in a transfer of £1095.25.

This is £75 less than DeeMoney! See below.

Lead Time:

It depends on the type of payment you use. You can use the Money In Minutes service to send cash to an agent for pickup. Using a bank transfer will take 2-5 days.

Sending Limit:

You can send up to 250,000 THB per transaction and multiple transactions per day.

Western Union requires you to fill out a bank form stating the source of income, and certain money transfers may require you to provide proof of source of funds.

4. DeeMoney

DeeMoney is a remittance service that charges a flat fee to send money from Thailand to 35 different countries.

You can use the app to set up a transaction, or attend one of four branches in Bangkok to transfer cash.

Fees:

DeeMoney charges a 125 Baht flat fee to send money out of Thailand.

They also have a service called DeeNext that offers next day delivery. This costs 250 Baht. However, there is currently a special flat rate across the board offer of 125 Baht.

While the fee is cheap, the exchange rate isn't always favorable.

I compared the exchange rate of DeeMoney on 50,000 THB Vs the mid-market rate, which is the real exchange rate without any fees.

Those of you who use Wise to transfer money into Thailand will know that the mid-market rate is important in saving money on your transfer.

• DeeMoney = 1,165.10 GBP
• Mid Market Rate = 1,182.90 GBP

DeeMoney is nicking £17 on the transaction, which is a lot less than Western Union.

Looking at Wise fees for sending the equivalent in GBP to a Thai bank account from the UK, the fee is around £7. Sadly Wise don't do money transfers out of Thailand.

So while the DeeMoney transfer fee is cheap, the exchange rate is where they apply their markup.

Lead Time:

Transfers take 1-5 days.

Sending limit:

You can send a maximum of 800,000 Baht per day.

In Summary

The landscape for sending money out of Thailand has changed significantly, and Wise now stands out as the most cost-effective and transparent option for many users.

By using the mid-market exchange rate and separating out fees clearly, Wise removes much of the hidden cost that typically comes from exchange rate markups used by banks and traditional remittance services. In most standard transfers, it is likely to be cheaper overall than SWIFT bank transfers, Western Union, and DeeMoney—especially once exchange rate differences are factored in.

That said, the “best” option still depends on what you prioritise:

• For best overall value and transparency: Wise is usually the strongest choice, particularly for straightforward currency routes and moderate-to-large transfers.
• For direct bank-to-bank transfers with existing Thai banking apps: SWIFT transfers via banks like Bangkok Bank or Kasikorn remain practical, with relatively low fixed fees but less favourable exchange rates.
• For low fixed fees and simple app-based transfers: DeeMoney can be competitive, but its exchange rate margin often reduces the advantage of its low upfront fee.
• For cash pickup or urgent transfers: Western Union remains the most flexible, though it tends to be the most expensive once exchange rates are considered.

In reality, the cheapest provider can vary depending on the currencies involved, the amount being sent, and the receiving country’s banking system. Wise often wins on total cost, but it’s still worth comparing against your bank and other services for larger transfers.

Ultimately, if you already use Thai banking apps, SWIFT transfers are convenient. If you want speed and cash access, Western Union has its place. But for most people sending money abroad from Thailand today, Wise is now the benchmark to compare everything else against.

——

Got a question, or an experience you want to share? Please leave it below.

GET MY NEWSLETTER

Join thousands of others who receive my monthly roundup of content & insider tips on how to survive & thrive in Thailand.