Discover ways to boost the value of your money transfer to Thailand by finding the best business currency exchange service.
Sending money abroad to Thailand doesn’t have to be expensive if you discover the right provider. Choosing a cost-effective international money transfer service is worth it if you’re a calculating business driven by numbers. After all, sending money to Thailand only makes sense if you can make your Canadian dollars stretch as far as they can go when paying your Thai suppliers.
If you’re planning a big-ticket transfer or have a line-up of smaller transfers to initiate in the future, you can save more with a dedicated currency specialist vs. the banks.
Before we consider various ways to transfer money internationally, let’s consider why any business would want to move money to Thailand. Canada’s imports from Thailand averaged several billion dollars in the past year. Thailand is a lucrative source of machinery, electronic equipment, vehicles, foods, plastics, and everything in between.
Hence, Canadian businesses with investments in Thailand need an optimal way to send money across Thailand’s borders. There are three main options:
If you’re looking for the cheapest, safest, and fastest way to send money internationally, your best bet is with a specialist money transfer service.
he cost of sending money to Thailand is influenced by two main factors – transaction fees and exchange rates. While transaction fees tend to remain fixed, exchange rates can see-saw, so there’s no one-time answer to how much it costs to send money internationally per dollar.
The excellent news is you can still control costs by choosing a provider with favorable exchange rates.
The USD is frequently used in Thailand, but the Thai Bhat is increasingly becoming a viable option. Whether you’re interested in the USD/CAD or THB/CAD, a superior exchange rate can save you thousands of dollars if you regularly send large sums of money (as businesses often do).
As already determined, you can access the best deals through a specialist money transfer service that offers 3-5% lower exchange rates and more affordable fees compared to banks. For example, with MTFX, it’s possible to save $900-$1500 when sending 30,000 USD to Thailand.
It takes 24-48 hours via MTFX. Punctuality in business is crucial as it helps you establish a good reputation and professional image that builds trust with your overseas suppliers. With MTFX’s fast services, your suppliers get their money within an acceptable timeframe.
The MTFX secure online platform is entirely safe and accessible 24/7 from any remote location. It enables you to send payments whenever you need to, so your money arrives on time every time.
To ensure your payment is reflected in the correct bank account, you need the following details when transferring money to Thailand:
Simplify international money transfers to bank accounts in Thailand when you register an MTFX business account today. You can benefit from:
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