If you are living in Thailand, you may wish to transfer your money to friends or family in other countries so that they can save it or use it for themselves. Transferring money has become fast and simple because of electronic and Internet transfer capabilities. You can easily transfer large or small sums of money to any individual with an e-mail address. From Thailand, you can safely and conveniently transfer money to nearly any country.
- Skill level:
Set up an account with a bank in Thailand. As of 2010, most banks require a minimum of 15,000 Thai Baht or £325 to start a basic current account. Popular banks in Thailand include Siam Commercial Bank, Bangkok Bank and Krungthai Bank. If you are in Bangkok, you can use an international bank such as HSBC or Citibank. Make a deposit that will cover the minimum initial balance, as well as the amount that you wish to transfer.
Start a PayPal or Google Checkout account. You will need an e-mail address to set up either of these accounts. Simply visit the PayPal or Google Checkout website and follow the instructions to start a new account.
Associate your Thai bank account with your PayPal or Google Checkout account. You will need your account number and routing number to allow PayPal or Google Checkout to accept transfers from your Thai bank account. Follow the instructions on the PayPal or Google Checkout website for associating a bank account with your PayPal or Google Checkout account. The process of associating your bank account with your PayPal or Google Checkout account typically takes three to seven business days.
Transfer money from your Thai bank into your PayPal or Google Checkout account. Once your bank account has been successfully associated with your PayPal or Google Checkout account, you can begin to make transfers from your bank to your online PayPal or Google Checkout account. Use the "Add funds" or "Transfer" option to choose the amount of money you wish to transfer from your bank account to your PayPal or Google Checkout account. This transfer will typically take three to five business days. However, you can opt for instant transfer options, which require you to pay a small fee.
Send the money in your PayPal or Google Checkout account to any individual who also has a PayPal or Google Checkout account, or simply transfer the money to another bank account you have associated with your PayPal or Google Checkout account. You can use your recipient's e-mail address to send the money. This transfer process will require another three to five days of processing time.
Tips and warnings
- Use a MoneyGram or Western Union transfer for faster money transfers. These transfer options require you to pay fairly large fees for each transfer, while PayPal and Google Checkout are completely free.
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