How do I know the transfer option has the best rate?
Here at Exchange Rate IQ, we have sampled the best companies and highlighted their respective rates to help you make an informed decision concerning this.
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Thailand is a significant ally of the United States and thus there is a large number of remittances made yearly from US to Thailand. There were more than 72 thousand jobs recorded in US in 2015 due to exports made to Thailand. Moreover, many people in the US have friends and families living in Thailand. It is therefore vital that you learn the best way to send money to Thailand from US. With Exchange Rate IQ, you have everything you need to know.
Sending money from US to Thailand is nowadays available thanks to the current advancement in technology. You can now send money as long as you can access your smartphone. All you need to do is set up an account with various online money transfer companies like XE Money, OFX, and Remitly. It is also safe to say that these online money transfer options can provide the fastest way to send money from US to Thailand for you. Other benefits of online money transfer companies include:
If you do not want to use these online services, you can opt for more direct services offered by providers like Western Union and Travelex who have their agents located all over Thailand. Your recipient can then receive his or her money directly from designated points in just a matter of minutes.
Sending money through the bank is also possible. You can easily send money from banks in the US directly to a bank account in Thailand. You can track the transfer to make sure that it reaches on time.
It is your responsibility to make sure that you get the most out of your transfer. You can consider the various attributes of different transfer agents in determining which ones have the qualities that you desire. Some of the things to look out before choosing service providers are:
Some companies issue transfer limits to the amount of transfer you want to make. Ask whether you warrant a fee-free transfer on the amount of money you opt to send. You may want to take a look at XE Money for some of the best rates and fees on your transfers.
You have to look at the interbank rate and make sure that it is close to the transfer rate offered by the service provider. The closer they are, the more the value of your USD to THB hence the better the transfer option.
Is the transfer option that you choose fast in relation to the fees charged? If so, then you should consider picking it depending on your level of urgency.
This is dependent on how simple to use your transfer option is. In case there are complex processes to be followed to set up and initiate your transfer, look for an option with a support system that is always there for you when you need it.