What are the best ways to quickly exchange money for Baht in Thailand?

Feb 19, 2024
9 months ago
Chris ********
ORIGINAL POSTER
How can I get a lot of baht rapidly in Thailand? Apps, Western Union, etc? Seeking suggestions. Thanks 🙏
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TLDR : Answer Summary
To quickly get Baht in Thailand, many users recommend using the Wise app for competitive rates and fast transfers, often completing in seconds to minutes. Others suggest Western Union for quick access, usually within an hour, although some users note concerns about higher fees. Other methods mentioned include using MoneyGram, bank transfers, and the option of exchanging currency directly with individuals. Participants also highlighted the importance of checking tax regulations on foreign funds in Thailand.
John ********
MoneyGram
Colin ********
I use XE spot on in every way
Sean *********
Agree on a safe word with her before you get started.
Tom *********
Wise works great. It has an auto conversion tab that let's you select the rate you'd like to exchange at, if you have time to wait for the Baht to move down. Do a Wise-ACH bank link with your home bank and make sure you have enough on deposit in your Wise account to cover the exchange. I made a nice profit on my first auto conversion after the last Baht slide bounced back to the average rate.
Matt *******
Wise or Revolut
Lucas *******
Western Union, has a lot of cheap options.
Tet *****
Wise
Simon **********
Ken ********
The real question is getting the baht back to dollars - but that’s maybe another thread. Like getting that 400,000 back out after 3 months in with the retirement visa. Some say deemoney but there’s also ways with Wise if you know …
Andreas *********
@Ken *******
WISE only transfers into Thailand, not out of Thailand. That's what Dee-Money is for. Or you take out the Thai Baht and bring 'em to a money changer like SiamExchange (north of the MBK Center) or the SuperRich head office. There you will be able to exchange them back into US Dollars and you are allowed to take 'em out of Thailand
Ken ********
@Andreas ********
that’s what I heard BUT I was able to send some money out of Bangkok bank with my Wise account into Wise and then transfer to a friends Wise account as well. She wanted to try so We tested this out last week - had to use BKK debit card to set it up but seemed to work and she said maybe same rate as Dee but quicker?
David ********
Ask your gf. She knows.
Andreas *********
I use WISE. The limit of a single transfer is 2 million Thai Baht (actually it should be 1.999.000.- THB) into your Thai bank account. But only THREE Thai banks will accept a transfer higher than 50,000.- Baht. These are Kasikorn, Bangkok Bank and Siam Bank PLC . . . .
@Chris *******
how much your home country allows you to transfer, I don't know.
Brian ********
Get Wise
Biitzy **********************
1 000 000 000
Biitzy **********************
$$$
Jae *******
You just need a mask and a big bag with a dollar sign on it.
Galenus ******
Bank robbery is the fastest way and you won't be taxed even 🥳
Michael **********
crypto
Mathias *******
Johannes *********
WU, good rates, and 1th transaction free with best rate
Richard ********
Wise.
John **********
Wise
Todd **********
Wise and they have a great exchange
Tim *********
How much do you consider a lot. $500 or $5,000.
Lieven ********
Revolut
Michael ********
I can exchange your dollars
Laurence **********
WISE
Pablo ********
Western union to yourself works fine
Franky **********
*************************************
David ******************
Money Gram … send money to yourself
Deniz *********
Wise
Maxie **********
Wise 🙏🏽
Edward ******
the best way is to find someone with a lot of bahts. take his bahts and you give him your USA dollars (if your Americam). i did this. it took 0 times.
Edward ******
to clarify, he moved bahts from his Bangkok acct to mine. i moved usdollars from my Schwab account to his.
Edward ******
this could be a good business for someone. or would it be. the cost is nothing.
Law *****
atm
Kim *********
@Law ****
nonsense
Law *****
@Kim ********
you made no sense

and am i talking to you
Kim *********
@Law ****
he can't use atm to transfer money to Thailand - that is what you suggested
Brook ********
Quickly? Bank wire. Hours.

Wise can take days, or weeks for authentication if you don’t already have an account.
Julie **********
XE. Really quick transfers.
James *************
That is £10k not Baht
David ********
@James ************
after you do the first £10k …..they usually up the limit to your bank funds tsb do 👍🏻
James *************
Yes mine or wife. Limit is I think 10k per day.
James *************
I do not use wise. I use the natwest app on my phone free of charge if you transfer Stirling. But Thai bank take a commission. About 3 working day transfer. Small charge for 24 hour transfer. If you send Thai Baht exchange rate guarantee.
Pertti *************
We transfer 400.000€ from Belgium to thailand without apps. Don't know how much you can send with these apps? Exchange rate was 38.2 and we can live that🙏 Our money is taxed in eu so there is no taxes here just remember do tax returns here👍
Valère *************************
Been using Wise for years now and we transfer monthly without any problems. Usually it takes just seconds to minutes from the Wise acc. to the Thai bank acc. Tried all the other options, but overall Wise comes out on top.
Sean **********
Yep, as stated above Wise app
Phil ******
@Chris *******
where are u putting it in Thailand? Your bank account?
Keith ******
Wise! Been using it for 1 year.
David **********
Get a job
Chris ********
ORIGINAL POSTER
@David *********
I'll give him a job 555
David ********
Wise move £200k in two days
Henry *****
Wise app 100%
Martin *****
I dont know how much you are talking about but be aware they can tax you over it with new tax rules for farang in Thailand
Todd **********
@Martin ****
not bank to bank they don’t I don’t know where you get your info
Dirk **************
@Martin ****
farang ru maak 😂😂😂
Andreas *********
@Dirk *************
farang ru nid noi 🤣
Peter *********
@Martin ****
not if you have paid tax on it in your home country
Mikael *****************************
@Peter ********
Doesn't Matter!!!!!
David **********
@Peter ********
What if the Thai tax rate is higher?
Stacey ****************
@Peter ********
it all depends if Thailand has an agreement with the person’s country.
Peter *********
@Stacey ***************
makes no difference if your country has a tax agreement with Thailand you will only pay tax once in your own country
Stacey ****************
@Peter ********
that is NOT what the experts say.

“Double Tax Agreement (DTA)

This agreement exempts any individual residing in Thailand and the country where Thailand has signed the agreement with from paying income taxes on both countries. To clarify, an individual can pay income taxes in the country where the individual is currently residing. The DTA has several purposes regarding income tax:

Prevent double taxation for reducing financial burdens among individuals.

Avoid conflicts on taxing rights ensuring income is taxed once or at a reduced rate.

Ensure fair treatment on taxation from discrimination.

Prevent tax evasion and fraud by sharing information with the contractual party.

Promote economic activity in stimulating cross-border transactions and investments between the treaty countries.

As of 9th October 2023, Thailand has signed the DTA with 61 countries. Nevertheless, the individual may be subject to double taxation in Thailand and the country where Thailand is not a contractual party to the DTA.”
Mikael *****************************
@Stacey ***************
100%Correkt!!Thats the problem now!Taxed 2 times if bad luck!!
Andreas *********
@Mikael ****************************
and
@Peter ********
if you hold high savings in your home country, and can prove it, Thailand will not tax a single Satang of it. Thailand only intends to tax INCOME. Savings are NOT an income
Peter *********
@Stacey ***************
why ask if you knew all that bullshit 🙄
Peter *********
Martin *****
Richard *******
Western Union 💯 there within the hour. Have passport ready 😎
John ********
@Richard ******
and pay rip off charges, plus poor exchange rates.
Eric **********
@Richard ******
one hour? Was told business day
David ***********
@Richard ******
the last transfer I done was with wise it took 9 seconds and that was last Friday
Todd **********
@David **********
I use them every week and yes it’s so immediate it’s uncanny, but it should be it’s electronic! They make it happen and unreal exchange rate
Todd **********
@Richard ******
Sorry but WU sucks with the few and the exchange rate! Wise is much better I’ve tried em all
Richard *******
Neil *********
Yes as everyone says wise is the quickest and best rate also and easy to set up if you don’t have it already
Michael ********
Western union rates may be good, they are a lot more competative now
Rich **********
Wise best rate
Ken ***********
Luc ************
Wise
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