Whether you live in Thailand as an expat, regularly support family or need to make a business payment: transferring money from Belgium or the Netherlands to Thailand has become a familiar transaction for many. However, the costs and speed vary greatly per provider. Many people unknowingly pay too much due to unfavorable exchange rates or high transaction costs.
In this article, you will discover how to easily and safely transfer money to Thailand, without unnecessary extra costs. We discuss popular providers such as Wise, Revolut, Western Union and traditional banks and give practical tips to make the best choice for your personal or business situation.
Which providers are there?
Below you will find an overview of the most important providers, with advantages and disadvantages, and a comparison of speed, costs and service.
1. Wise (formerly TransferWise)
Wise has proven to be one of the best options for fast and affordable money transfers to Thailand.
Benefits:
- Super fast transfer: In many cases, the money is in the Thai account within seconds (sometimes within 7 seconds).
- Fair exchange rate: Wise uses the true mid-market rate without a markup.
- Low costs: You pay a fixed rate from €1,67 plus a small percentage of the amount (approx. 0,7%).
Cons:
- Charges may apply for credit card payments.
2. Revolution
Revolut combines a modern app with competitive rates for international payments.
Benefits:
- Mid course: Exchange at interbank rates.
- Free transfers up to a monthly limit (depending on your subscription).
Cons:
- Weekend surcharge: Exchange rates are less favourable during the weekend.
- After the limit you will pay additional costs.
3.Western Union
Western Union is known worldwide and offers speed in particular for cash withdrawals.
Benefits:
- Cash within minutes available throughout Thailand.
- Many pick-up locations: also outside the big cities.
Cons:
- High cost for smaller amounts.
- Less favorable exchange rate due to extra margin.
4. Xoom (PayPal)
An alternative to fast cash or bank transfers via PayPal.
Benefits:
- Fast delivery (often within minutes) to bank account or cash collection.
- PayPal integration makes it user friendly.
Cons:
- Higher costs then Wise or Revolut.
- Exchange rate margin which increases the total cost.
5. N26 (via Wise)
N26 is a digital bank that integrates Wise for international payments.
Benefits:
- Fast transfers via Wise technology.
- User-friendly mobile app.
Cons:
- Not available everywhere.
6. Remitly
Remitly focuses on fast transfers to countries outside Europe.
Benefits:
- First transfer often free.
- Fast delivery to bank or cash.
Cons:
- Costs vary after the first free transaction.
- Exchange rate margin available.
7. Traditional banks (ING, Rabobank, KBC)
The classic option for international payments, but often less advantageous.
Benefits:
- Safe and trusted.
- Bank transfer to Thai account.
Cons:
- High fixed costs (€15 to €30).
- Bad exchange rate (4-6% margin).
- Slow processing (3-5 working days).
What is the cheapest choice?
Wise is in most cases the most cost-effective and fastest option, mainly due to the combination of low costs, mid-market rate and immediate processing within seconds. Revolut is also beneficial within the free limits, especially on weekdays.
Do you prefer to collect in cash? Then Western Union en Xoom fast, but more expensive due to higher costs and margins.
Overview in table form
| Provider | Costs | Exchange rate | Speed | Payment Options |
|---|---|---|---|---|
| Wise | Low | Mid course | Often within seconds | Bank, iDEAL, card |
| Revolut | Low to free | Mid course | Minutes | Bank, iDEAL |
| Western Union | High | +3-5% margin | Minutes | Cash, bank, card |
| Xoom | Intermediate | +2-4% margin | Minutes | PayPal, bank, card |
| N26 | Low | Mid-price (via Wise) | Within seconds | Bank, iDEAL |
| Remitly | Intermediate | +2-3% margin | Minutes to 1 day | Bank, card |
| Bank (ING, etc.) | High | +4-6% margin | 3-5 business days | Banks |
Points of attention
- Look at total costs: Not only transaction costs, but also exchange rate margins.
- Transaction speed: When speed is of the essence, choose Wise or Western Union.
- Safety: Please note that you only work with certified providers with customer protection.
- Payment method: Avoid credit card payments where possible to limit additional costs.
Tips for transferring money to Thailand cheaply
- Avoid weekends for transfers via Revolut or other fintech providers due to weekend surcharges.
- Compare for each transaction the costs via platforms such as Monito or Geldtransfer.
- Use iDEAL or bank transfer to avoid credit card surcharges.
- Watch out for promotions with providers such as Remitly or Wise (first transfer often cheaper).
- Check the exchange rate daily if you are going to transfer large amounts of money.
Conclusion
If you want to send money to Thailand quickly and cheaply, Wise often the best choice thanks to the combination of speed and low costs. Revolut is attractive for smaller amounts, as long as you stay within the limits. Western Union and Xoom are interesting for emergencies where cash must be available immediately.
By making a conscious choice and comparing costs in advance, you can save hundreds of euros on annual transfers to Thailand.
As a regular Remitly user I would like to point out that the costs do not vary after the first transaction, as stated above, but are always 2,99 euros. In my case the money is always in my Thai account within a minute. In the scheme REMITLY should also mention IDEAL as a possible payment method - I always use that.
Right.
And I have used WISE for years, now I use both. When I want to make a transaction I compare and choose the cheapest one. I always make my payment via credit card and lately I always end up with Remitly as the best buy.
Nico,
Please explain to me at what amounts Remitly can be cheaper than Wise.
Because if you look at the exchange rate surcharges of Remitly vs 0% at Wise, Remitly can never be cheaper than Wise for amounts above 200 euros, not even with Remitly's economy option.
PS. I added AI chat to help me with this question
Exchange Rates and Fees
Wise: Uses the mid-market rate (eg, 1 EUR = 36.6447 THB) with a fee structure of €1.67 + 0.7% of the transfer amount.
Remitly: Offers two options:
Economy: Lower exchange rate (eg, 1 EUR = 35.8900 THB) with a fee of €1.99.
Express: Higher exchange rate (eg, 1 EUR = 36.5784 THB) with a fee of €8.62.
Recipient Gets for €1,000
Wise:
Exchange rate: 36.6447 THB
Fee: €7.67 (€1,000 × 0.7% + €1.67)
Recipient receives: 36,457 THB.
Remitly Economy:
Exchange rate: 35.8900 THB
Fee: €1.99
Recipient receives: 35,818 THB
Remitly Express:
Exchange rate: 36.5784 THB
Fee: €8.62
Recipient receives: 36,263 THB.
Threshold Analysis
For smaller amounts (eg, below €100), Remitly's flat fee (€1.99 for Economy) may make it cheaper than Wise's percentage-based fee (€1.67 + 0.7%). However, as the transfer amount increases:
Wise consistently provides more favorable rates and lower fees.
Remitly Economy becomes less competitive due to its lower exchange rate.
Remitly Express is closer to Wise in terms of received amount but still slightly less efficient.
Eddy, you dragged AI into this comparison, but you are still wrong.
Remitly does not offer a choice between Economy and Express from Belgium and the Netherlands, but offers one – lightning-fast – shipping method that costs 2,99 euros.
https://www.remitly.com/nl/nl/thailand/pricing
https://www.remitly.com/be/nl/thailand/pricing
Compared yesterday:
I send 50.000 baht, payment by credit card (I know, with Bancontact is cheaper, but for security reasons (insurance) I always choose credit card)
Remitly 23-03-2025, 9:40 BE time: to be paid 1.389,57 euros
Wise 23-03-2025, 9:45 BE time: to be paid 1.394,14 euros
Dear Cornelis, Remitly is an online money transfer service based in the US. You say you use this service regularly. I have a few questions. I would like to kindly request you to take the time to shed some light on this.
Can an account be created at Remitly from TH, so with a Thai address? If not, the following questions are no longer relevant.
If yes:
Are you satisfied with this service? Is Remitly better than Wise? Does Remitly send Thai Baht or Euros to your Thai bank account? Is Remitly available both online and via an app? Can I deposit money with REmitly and wait for a better rate? Thanks in advance!
I am happy with it, Willem. For your further questions I refer you to Remitly:
https://www.remitly.com/nl/nl/thailand
I read that the costs for traditional banks are between €15 and €30. Until January last year I paid €2.500 transaction costs up to €20 with the then Bank van de Post. After the takeover of the Bank van de Post by BNP Paribas Fortis in January 2024, the costs are considerably better.
For my permanent monthly assignment of €2.500 I only pay €9 euros. But I have no insight into the conversion rates and the amount is only in my Thai account after 4 or 5 working days. And then I have to be lucky that there are no weekends or holidays in between in Belgium or Thailand.
Sometimes I also transfer an amount from Thailand via the Fortis app. The option to transfer to non-SEPA countries was added a few months ago. In the app I am given the exchange rate that will be used and is valid for 10 minutes. I also see the amount that I will receive in THB. I indicate that it is an urgent transaction. Transaction costs: ZERO euros. And the amount is already in my account on the second working day. So even cheaper than the standing order.
Indeed Jos, I just did the test with BNP 1000 euros 36570 bath and with WISE 36372. Almost 200 bath more with BNP and it's great that you can see how much you get, thanks for the tip.
I have N26, Wise and Revolut. I want to clarify a few things, which are not fully mentioned in this article.
Banking license: Wise does not have this, so your money in a Wise account is not guaranteed in the event of bankruptcy.
Availability: Since Wise doesn’t have a banking license, you can open an account with a Thai address. N26 and Revolut are bound by EU banking regulations and only allow EU citizens to open accounts.
Ideal: Wise charges fees for usage. N26 and Revolut do not.
Debit card: All 3 have this. Wise is limited in Thailand. Some like Shopee and Line Pay do not accept Wise card. That is why I do not use Wise card anymore.
I just logged into Revolut because I used to use Wise in the past.
Revolut now posts (Sunday afternoon):
Promotion rate: 1 EUR = 36,96 THB
That doesn't correspond with reality, does it?
I have been making a monthly transfer via WISE for years, before it is on my BKB it takes at least 24 hours and never within a few seconds, can someone explain to me what I read here within a few seconds on my account, am I doing something wrong ???????
Wim
No idea with me really within a minute, from ing to wise and wise to bkb. use ideal from wise, now costs 50 cents, bank transfer from ing to wise takes hours. from wise to bkb really super fast
Hi, I have been using Transfer Galaxy for years, no fees to make a transfer, fee = 0 euros, takes an exchange rate difference of about half a baht per euro
Transfer Galaxy is a Swedish company
2 comments. At Wise I think the costs are much higher than what you write.
And with traditional costs you can either have the costs completely charged to the principal or 50-50 or all costs charged to the beneficiary. In the latter case, in my case, you pay no costs in Belgium and depending on the amount you have a minimum cost of 200 THB in Thailand. The big disadvantage with traditional banks is that you do not know the exchange rate in advance.
Forgotten. If I make a transfer in the morning at ING Belgium here in Thailand, I have my money 2 working days later. If I do it in the afternoon it is 3 working days. I don't know about other Belgian banks.
Dear,
I transferred money yesterday (Sunday) with Wise. The rate according to XE was 36.77 Baht. However, with Wise it was only 36.67 Baht. It turns out that rate does not change during the weekend… I could see that graph on Wise and it showed a horizontal, almost flat line Saturday-Sunday… The graph in XE was anything but flat before last weekend…
Regards,
Daniel M.
The rates that XE displays are mid-market rates, so an average of the purchase price and the sale price of the currency. They are updated every minute and are very reliable.