Find the best ways to transfer money to Bhutan

Pay attention to BTN exchange rates, as it determines how much BTN your recipient will receive.

For instance, today’s average USD to BTN rate is 84.3928 but the highest rate over the past 3 months was 84.0058 BTN/USD.

Your aim is to transfer when BTN reaches a higher value so waiting a few days could result in a better rate, hence more BTN received.

For urgent Ngultrum transfers, we recommend Wise. It consistently provided the best BTN rates over the past six months.

How you fund your transfer affects the cost, speed, and the amount of Ngultrum the recipient will receive.

The cheapest way to fund your transfer to Bhutan is with a Bank transfer via Revolut, which is 0.8% cheaper than the next cheapest service.

Based on our six-month analysis of a $2,000 transfer from to Bhutan, here are the top options:

• Revolut (bank transfer): Costs $0 + 0.11% markup on top of the BTN mid-market rate.

• Xe (debit card): Costs $49.54 + 0% markup.

• Xe (credit card): Costs $31.56 + 0% markup.

Credit card is the most expensive deposit method for Ngultrum transfers, so we recommend avoiding it to maximize the amount of BTN received.

Credit card transfers may result in cash advance fees and higher interest rates when sending money to Bhutan.

For instance, Wise charges $100.75 for credit card deposits, while Revolut charges $0 for bank transfers.

Avoid sending BTN over the SWIFT network, as it's slower and more expensive. Instead, consider cheaper options like ACH or account balance for BTN transfers.

Money transfer companies often have minimum and maximum limits on how much BTN you can transfer.

The amount of BTN you send can impact the fees and exchange rate. Some services such as Wise may offer a better exchange rate for large BTN transfers.

There may also be government-imposed restrictions, commercial limitations, and other factors that may affect how much BTN you can send.

To ensure your money transfer to Bhutan goes smoothly, especially if moving large amounts of Ngultrum, use our comparison tool to find the service that best fits your needs.

The speed of sending Ngultrum to Bhutan depends on factors like the amount of BTN sent, the chosen deposit and withdrawal methods, and when you send BTN.

As a rule of thumb, faster transfers come with higher fees.

Let’s imagine you want to transfer 2,000 USD to Bhutan, here are your options:

• For the fastest transfers, use PayPal - Out of 9 companies serving Bhutan, PayPal appeared 11 times in our searches as the fastest service in the past 6 months.

• For bank and card deposits, use Xe - Xe provides fast and affordable BTN transfers, with fees around $2.39 for bank account deposits and $45.67 for debit/prepaid card deposits, with a small 1.02% markup on the ‘real’ BTN exchange rate.

• For credit card transfers, use Xe - Xe charges $31.56 for credit card transfers to Bhutan with 0% markup. However, beware of potential cash advance fees and higher interest rates from your credit card company.

• For urgent transfers, use cash transfer services - If you need Ngultrum to be delivered urgently, services like Western Union, MoneyGram, or Ria Money will have it ready within minutes for collection in Bhutan.

Avoid using the SWIFT network for BTN transfers, as intermediary banks slow the process. Instead, opt for faster and more cost-effective alternatives discussed above.

For BTN transfers, you have the following options:

1. Money transfer company - You can transfer money online using an FX broker (managed service) or a self-managed online company like Wise. Based on our 6-month analysis, Wise ranked as the top provider for sending money to Bhutan, appearing in 14 comparisons involving BTN.

2. Mobile apps and digital wallets - Many services available in Bhutan offer mobile apps, often giving transfer offers on BTN rates.

3. Cash transfers - You can send cash to Bhutan through services like Ria Money, MoneyGram, or Western Union. Cash transfers are typically instant, but the recipient must visit a local agent in Bhutan to collect the Ngultrum.

4. Wire transfers - While you can wire money to Bhutan through your bank, we advise against it. Banks can charge up to $60 per transfer to Bhutan and add 5% - 6% to the BTN exchange rate. Instead, use bank transfer to deposit money to Wise and send BTN from there.

There are several ways to receive money in Bhutan, and choosing the right one will help the recipient get the most BTN. Mainly, these are:

• Deposit to bank account - For direct bank deposits in Bhutan, we recommend Revolut, which appeared in 66.7% of BTN searches as the cheapest option for bank transfers. BTN will arrive directly to the recipient's bank account in Bhutan.

• Deposit to digital or mobile wallet - BTN can be sent directly to digital wallets like PayPal, though this option often has more limitations and higher costs compared to services like Revolut. Recipients in Bhutan will need to transfer it to their account, which may incur more fees.

• Cash pickup or home delivery - If the recipient needs BTN urgently or doesn't have access to a bank account in Bhutan, cash pickup or door-to-door delivery is a good alternative. Be sure to check if these services are available in Bhutan. This will require the recipient to visit a nearby agent in Bhutan.

When making large BTN transfers or sending Ngultrum for cash pickup, the recipient may need the following:

• Government-Issued ID: This can be a non-expired and valid passport, driver’s license, or national ID of Bhutan.

• Sender’s Details: Full name, address, and other personal information.

• Transfer Details: The amount being received in BTN.

• Transfer number: This is given at the time of transfer.

• SWIFT Code / IBAN: This may be required for bank transfers to Bhutan from some countries.

*The exact documents may vary depending on the transfer method and service used.

For bank accounts, debit cards, or wallet deposits, the recipient typically doesn’t need to do anything. Ngultrum will arrive without their involvement.

For larger transfers, companies may request additional documents like proof of funds and address verification in compliance with Anti-Money Laundering policies.

We recommend using Wise for transferring large amounts of Ngultrum.

There may be tax implications and government-imposed limits on Ngultrum transfers.

Some Ngultrum transfers may be subject to gift tax, commercial tax, and other types of taxes.

Even if no immediate taxes or limits apply, larger BTN transfers may need to be reported to tax authorities in Bhutan or your home country.

To be fully safe, we strongly recommend consulting with a tax professional in either Bhutan or your home country to ensure compliance with relevant regulations and tax laws.