Cheapest way to send money to Thailand?

Wise routinely tops THB corridors with margins under 1%. Remitly and InstaReM are also strong competitors. PromptPay-supporting providers usually offer the fastest delivery.

What is PromptPay and why does it matter?

PromptPay is Thailand's domestic instant payment rail, similar to UPI in India or PayNow in Singapore. International providers using PromptPay can credit Thai bank accounts in seconds rather than hours.

Are remittances taxable in Thailand?

Personal remittances received in Thailand are not subject to income tax. However, if the recipient is a Thai tax resident receiving income (not gifts), separate income tax rules may apply.

Can foreigners receive remittances in Thailand?

Yes — both Thai nationals and foreign residents (with valid visa and bank account) can receive remittances. Foreign Currency Deposit Accounts (FCDs) allow recipients to hold incoming funds in USD, EUR, etc.

How long does cash pickup take?

Cash pickup at Western Union, MoneyGram, or partner banks is typically available within 30 minutes of the transfer being initiated. 7-Eleven counters across Thailand also serve as pickup points.

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Thai Baht (THB) Live Exchange Rate & Remittance Guide

THB · ฿ · Bank of Thailand (BoT)

1 USD =

฿—

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About the Thai Baht

The Thai Baht's modern form dates to 1897 under King Rama V. After serving as a regional reserve currency in earlier centuries, the baht's 1997 devaluation triggered the Asian Financial Crisis. Thailand moved to a managed-float regime that year and the BoT has since maintained relatively stable inflation-targeted monetary policy.

Why THB matters for remittance

Thailand is both a remittance sender (large Burmese, Cambodian, Lao migrant workforce) and receiver (~$10 billion/year, primarily from the US, UK, Australia, Israel, South Korea, and Taiwan). Inbound remittances support a large rural population in the north and northeast.

Compare THB corridors

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Thailand remittance guide

Country profile for sending money TO Thailand — delivery methods, regulations, recipient guidance.

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THB remittance regulations

BoT regulates inbound remittances. Personal remittances under THB 50,000 per transaction require minimal documentation; larger amounts may require source-of-funds proof. Inbound transfers are not taxed for the recipient. PromptPay is Thailand's domestic instant rail and is increasingly supported by international providers.

How to send Thai Baht (THB)

Use a provider that supports PromptPay delivery (Wise, Remitly) for the fastest settlement — credits to Thai bank accounts in seconds.
Bank deposit to Bangkok Bank, Kasikorn, Siam Commercial, or Krungthai is widely supported.
True Money Wallet is a popular mobile wallet alternative for unbanked recipients.
Cash pickup via Western Union, MoneyGram, or 7-Eleven branches is available throughout Thailand.

Currency facts

ISO 4217: 764
Sub-unit: 100 satang = 1 baht
Central bank: Bank of Thailand (BoT)
Daily FX volume: $10 billion/day
Symbol: ฿
52-week range (vs USD): 35.8 – 37.2

Frequently asked questions

Live rates fetched from Wise's public comparison API. For currency conversion mid-rates we display Wise's quoted rate, which has zero markup. Methodology.