Send Money to Thailand from the UK

Sending money to Thailand from the UK can be a hassle-free experience if you choose the right service and follow the necessary steps. This guide will provide you with all the essential information to ensure your money transfers are secure, cost-effective and fast. By learning these methods you can opt for the best way to send money to Thailand from UK.

So, learn how to transfer money to Thailand from the UK from this page of Sterling FX.

Best Methods to Send Money to Thailand from the UK

A bank transfer is a safe way to send money to Thailand. However, it is expensive, as the banks charge different types of charges, such as transfer fees, exchange rate markup, and more. Also, the banks don't provide competitive exchange rates, and the transfer takes a longer time.

Digital and app-based money transfer services usually charge less than banks. They offer instant transactions and competitive exchange rates. But there may be limitations on the amount of money transfer UK to Thailand per day.

An online FX broker is a cost-effective option to send money to Thailand from UK. These app-based or online service providers allow you to send large or small amounts of money quickly to Thailand. They also provide competitive exchange rates and lower transfer fees than the banks. For these reasons, it has become the cheapest way to send money to Thailand.

It's the best way to send money to Thailand if the sender or the recipient doesn't have a bank account. The sender can collect the money in cash through a designated location in Thailand. But it's not a cost-effective service. In this case, the transfer fees are high, and the exchange rate is not competitive. Moreover, the maximum amount that you can transfer is comparatively low.

Here are the factors you need to consider before you decide to send money to Thailand from the UK -

The Pound Sterling to Thai Baht currency exchange rate differs from platform to platform. Also, it's a dynamic rate. So, it changes time by time. Thus, it's necessary to compare the current exchange rates from different service providers before you want to send money to Thailand from the UK. Then, choose a service provider that offers the best competitive rate.

The transfer fee is another important factor to consider when you send money to Thailand from the UK. The transfer fee varies according to the different platforms. Also, it depends upon the currency pair and the transfer amount. Digital money transfer and online FX broker services take an amount between £0 and £10 to transfer the money. However, the banks will take between the transfer fees, which range between £10 and £30.

The speed of money transfer UK to Thailand depends upon the transfer method you've chosen. The international money transfer services send your money instantly to the recipient in Thailand. At the same time, the Banks take longer. They will send your money within 3-5 business days.

Always choose a service provider registered and operated by the FCA. The FCA provides the highest level of security in the UK for international money transfers and protects consumers from potential harm and scams regarding money transfers. Thus, you should use a service that is authorised by the FCA.

The transfer fee is the charge applicable to transferring the money abroad. In this case, the fee will be applicable for transferring the money from the UK to Thailand.

The exchange rate indicates the value of one currency with respect to the other currency. So, here it indicates the value for which the Pound Sterling is converted to Thai Baht.

Check the interbank rates first. This will help you understand if there is any hidden markup in the exchange rate offered by your service provider. Also, you should compare the markups charged by numerous banks and money transfer service providers.

Another good option is to choose a service provider who has a tie-up with your recipient's bank in Thailand. This helps eliminate hidden charges.

If you've sent the money through an online service provider, you can directly track the money transfer status through the tracking ID. But, if you have chosen the bank transfer method, you need to contact the customer support of the corresponding banks and request them to track your money transfer. After tracking it, they will inform you about the status.

The time it takes depends upon the service provider you have chosen to send money to Thailand from the UK. Online money transfer service providers transfer money instantly or in between 1 and 2 days. But if you have chosen the bank transfer method, it will take 3-5 days.