Money Transfer To India

Money Transfer To India

Whether you’re staying in Thailand long-term or planning to work here periodically, it’s certain that you’re going to collect cash in some manner. The next inevitability for all expats then lies in figuring out how to send money to and from the country.

Here’s a walk-through of the top platforms for making global transfers and a look at which ones actually let you send THB currency out.

  • By Western Union
  • By Indian Overseas Bank
  • By CITI Bank
  • By Dee Money
  • Klook.com

    By Western Union

    As per many users review WU does not support transfer above 70,000 THB. Transfer above 70,000 THB is being rejected by WU.

    Western Union
    Fee 100 THB
    Mode Online and Offline
    Remittance Time Same day or upto 3 days
    Signup Process Easy process. Just need passport and fill a basic form.

    By Indian Overseas Bank

    IOB is highly recommended for remitting big amount. It is widely used and trusted among Indian expat community in Thailand.

    Indian Overseas Bank
    Fee For Remittance upto Thb 50,000/-
    For account holders 150/- thb
    For Non account Holders 200/- Thb
    For Remittances above Thb 50,000/-
    For account Holders 300/- Thb
    For Non account Holders 350/- Thb
    Mode Offline
    Remittance Time 1-3 days
    Signup Process Check all FAQ regarding IOB below.

    IOB have only one branch in Bangkok. It is located at Rajawongse Road.

    There used to be another branch in Sukhumvit. Effective from 1-JUN-2019 Sukhumvit branch is permanently closed.

    Address and contact number is given below.

    Indian Overseas Bank Bangkok
    221 Rajawongse Road,
    Samphanthawong,
    Bangkok 10100
    Tel: (+66) 02-224-5411-4
    Fax: (+66) 02-224-5405 /
    Swift: BHOBTHBK

    Go to map (Rajawongse Road Branch)
    Lets go through FAQ's regarding money transfer to India.
    Q. Do one need to have bank account in IOB Bangkok or IOB India?
    No. It's not mandatory to have bank account in Bangkok or India. But good to have, as they have special rates for transfer between IOB to IOB.
    Q. What's the transfer rate?
    Rate changes everyday based on currency market. IOB publish rate on their website daily. Check IOB Transfer rate here
    Q. How to convert rate into INR?
    So if you go to IOB website rate is shown as decimal i.e 0.4580. To convert rate into INR just divide this rate by 1. So rate will be 1/0.4580 = 2.183406 INR. If you are transferring 50,000 THB. you will get 50,000 * 2.183406 = 109,170.30 INR (approx) on that particular day.
    Q. How much time does it takes money to get credited in Indian bank?
    For IOB to IOB transfer money is credited instantly. While for non IOB transfer it gets credited within same day. In general it should not take more then 2 days. If your money haven't credited within two days please contact bank.
    Q. Do one need to have NRE/NRO bank account in India to get money?
    No. You don't need to have NRE/NRO account. You can transfer to your regular saving account of any bank in India.
    Q. Can I do online transfer with IOB?
    With IOB one can not transfer money from here to India online. But you can transfer money from local Thai bank to IOB Bangkok account.
    Q. What are the documents required to transfer money without opening bank account?
    Note: If you don't wanna open a bank account here. Below documents you have to carry every time in original to transfer money.
  • Passport
  • Work Permit
  • Source of income like Payslip etc
  • Thai tax Id
  • Q. How to open bank account with IOB Thailand?
    Just go to branch with listed documents. Please carry all original. Account will be opened instantly once you fill up a form with required documents.
  • Passport
  • Work Permit
  • Source of income like Payslip etc
  • Thai tax Id
  • And last but not least some cash.
  • Minimum balance required is 1000 THB.
  • Q. How to open bank account with IOB India from here?
    Opening Indian NRE/NRO account from here will take some time. In general it takes around 2-3 weeks. Note: NRI's prefer to open NRE account in India as it have tax benefits.
  • Two passport size photos
  • Passport
  • Work Permit
  • Source of income like Payslip etc
  • Thai tax Id
  • Indian Aadhaar card
  • Indian PAN card
  • Residential Proof
  • Q. Do I have to go myself everytime to transfer money?
    Short answer YES. One have to go himself in order to transfer money.

    If you have account with IOB Thailand. You can fill all required forms and send along with another person. Don't forget to signature the forms.

    Q. Does IOB Thailand have online banking?
    Sadly no, IOB does not have online banking facility for IOB Thailand.

    From CITI Bank Thailand to CITI Bank India

    Well if you have account with CITI Bank Thailand & India. You can transfer online without any hassle.

    Amount will be credited instantly to your Indian CITI Bank account. But transfer rate is approx 7-8 paisa behind from current rate.

    Their is no transfer fees from CITI Thailand to CITI India. Just the rate is little lower.

    There are option to transfer to another bank account as well. But I never tried them.

    By Dee Money

    Recently many users complaining about DeeMoney that transfer time is taking longer then two weeks.

    You can sign up for DeeMoney here. Once you’re signed up as a DeeMoney member, you can use DeeMoney’s mobile phone app (available on Android as well as iOS) to make transfers directly from your Thai Bank account, without any need to visit any physical branch. You can find more details about DeeMoney by visiting their website (www.deemoney.com)

    Official Website: www.deemoney.com

    Dee Money
    Fee 150 THB
    Mode Online and Offline
    Remittance Time 3-7 days (Many users complaining funds taking longer then 14 days)
    Signup Process Easy process. Just need passport and fill a basic form.
    Maximum Transaction Limits / Day 800,000 THB

    I hope this article answers most of the question and helps you. More question? Feel free to comment.