Find the best ways to transfer money to Laos

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

For instance, today’s average USD to LAK rate is 21,549.9999 but the highest rate over the past 7 days was 21,609.9013 LAK/USD.

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

For urgent Kip transfers, we recommend Wise. It consistently provides the best LAK rates.

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

The cheapest way to fund your transfer to Laos is with a bank transfer via Wise, which is 0.74% cheaper than the next cheapest service.

Based on our analysis of a $7,000 transfer from to Laos, here are the top options:

• Wise (bank transfer): Costs $60.74 + -0.02% markup on top of the LAK mid-market rate.

• (debit card): Costs $ + % markup.

bank transfer is the most expensive deposit method for Kip transfers, so we recommend avoiding it to maximize the amount of LAK received.

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

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

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

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

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

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

The speed of sending Kip to Laos depends on factors like the amount of LAK sent, the chosen deposit and withdrawal methods, and when you send LAK.

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

Let’s imagine you want to transfer $7,000 to Laos, here are your options:

• For the fastest transfers, use Xoom - Out of 4 companies serving Laos.

• For bank and card deposits, use Xoom - Xoom provides fast and affordable LAK transfers, with fees around $0 for bank account deposits and $ for debit/prepaid card deposits, with a small 2.3% markup on the ‘real’ LAK exchange rate.

• For credit card transfers, 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 Kip to be delivered urgently, services like Western Union, MoneyGram, or Ria Money will have it ready within minutes for collection in Laos.

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

For LAK 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 analysis, Wise ranked as the top provider for sending money to Laos, appearing in 1 comparisons involving LAK.

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

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

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

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

• Deposit to bank account - For direct bank deposits in Laos, we recommend Wise. LAK will arrive directly to the recipient's bank account in Laos.

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

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

When making large LAK transfers or sending Kip 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 Laos.

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

• Transfer Details: The amount being received in LAK.

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

• SWIFT Code / IBAN: This may be required for bank transfers to Laos 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. Kip 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 Kip.

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

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

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

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