XendPay
No bank is needed to make a money transfer. There are cheaper options, such as Xe.com and now also XendPay.com. However, there are several providers, not just two. We do not know if XendPay is the cheapest provider or another.
From ExpatDen.com, we received the following letter on 21 Aug. 2019:
"The Cheapest way to Send Money to Thailand (Sponsored)
Hi there,
Do you need to regularly send money to Thailand?
Do you know that there's a way to significantly lower transfer fees and still receive your money within a few days?
When you send money by wire transfer from overseas, banks in Thailand normally charge 870 Thai baht to 1,050 Thai baht when receiving the money.
This doesn’t include the hidden exchange rate and transfer fees from the sending bank.
Meaning that for each transfer, you may need to pay at least 2,000 baht on transfer fees alone.
That’s a lot of money.
But there’s a way to decrease those fees by using a money transfer service such as XendPay.
[https://www.xendpay.com/]
You can decide the amount of the transfer fee that you want to pay. And the exchange rate is much better than banks.
To give you an idea, if you send $1,000 to your Thai bank this week via wire transfer, you will receive around 28,608 baht.
If you use XendPay, you will get 30,640.98 baht. That means you will save 2,032.98 baht. That’s almost 10% of the total transferred amount.
In addition, XendPay allows you to send money without charging a transfer fee for up to $2,535 for individuals and $5,070 for businesses per year.
It is one of the cheapest ways to send money to Thailand.
You can start using XendPay today. All you need to do is just sign up and verify your account.
It’s your hard-earned money. You should always look for a better alternative in order to save the most."
