Transfer Wise

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glalt
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Re: Transfer Wise

Post by glalt » September 12, 2021, 7:50 pm

Citibank US offered me a new deal. There is no charge if I transfer Baht. Using their exchange rate, a $15,000 transfer would have cost me about $500 dollars. SCB exchange rate is very close to Posted XE exchange rate. I pay Citibank a flat $45 to transfer dollars regardless of the amount transferred. I should add that I have NO love for Citibank.



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jackspratt
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Re: Transfer Wise

Post by jackspratt » September 13, 2021, 5:28 pm

jackspratt wrote:
September 10, 2021, 4:38 pm
^ My experience is that the transfer through Wise can take anywhere from 2 hours to 4 days to hit your Thai bank account.

It can be affected by weekends and public holidays at both ends.
Just did a transfer from my Oz bank to Kasikorn - transaction completed in 7 minutes.

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Niggly
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Re: Transfer Wise

Post by Niggly » September 13, 2021, 7:16 pm

jackspratt wrote:
September 13, 2021, 5:28 pm

Just did a transfer from my Oz bank to Kasikorn - transaction completed in 7 minutes.
I can beat that although the quick time wasn’t absolutely necessary for me.
Had to transfer some money today as well & the time of payment on my UK bank statement was 09:56 (Thai Time -6) & the fund receipt time at Bangkok Bank is 15:56 so it took less than a minute 😳

Also interestingly (or maybe not) I’ve never downloaded a receipt from Wise (if the money is there it’s okay, right?) but I’ve just looked for this transaction & it says “In Country Partner - Deemoney”. Aren’t they another money transfer service ?
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ajsp9
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Re: Transfer Wise

Post by ajsp9 » September 13, 2021, 7:24 pm

Niggly wrote:
September 13, 2021, 7:16 pm
jackspratt wrote:
September 13, 2021, 5:28 pm

Just did a transfer from my Oz bank to Kasikorn - transaction completed in 7 minutes.
I can beat that although the quick time wasn’t absolutely necessary for me.
Had to transfer some money today as well & the time of payment on my UK bank statement was 09:56 (Thai Time -6) & the fund receipt time at Bangkok Bank is 15:56 so it took less than a minute 😳

Also interestingly (or maybe not) I’ve never downloaded a receipt from Wise (if the money is there it’s okay, right?) but I’ve just looked for this transaction & it says “In Country Partner - Deemoney”. Aren’t they another money transfer service ?
I think the reason for these transfers being so quick is that the money that lands in your Bangkok Bank account is funds that are already in Thailand so perhaps Deemoney merely facilitate this for a fee. They pay out your in coming funds prior to it landing in their account and take a % of the fees

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Niggly
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Re: Transfer Wise

Post by Niggly » September 13, 2021, 7:31 pm

ajsp9 wrote:
September 13, 2021, 7:24 pm

I think the reason for these transfers being so quick is that the money that lands in your Bangkok Bank account is funds that are already in Thailand so perhaps Deemoney merely facilitate this for a fee. They pay out your in coming funds prior to it landing in their account and take a % of the fees
Yeah, I got that, if you select long term stay in Thailand the funds actually come from the originating country so take longer.
The (very reasonable) fees aren’t any more for this speed so must be just absorbed by Wise. I wouldn’t have even known about it if not for having a dig about for this transaction
Age & treachery will always triumph over youth & ability

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sometimewoodworker
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Re: Transfer Wise

Post by sometimewoodworker » September 13, 2021, 7:59 pm

ajsp9 wrote:
September 13, 2021, 7:24 pm
I think the reason for these transfers being so quick is that the money that lands in your Bangkok Bank account is funds that are already in Thailand
Of course they are. There is no need for guessing. It has been in their information from the start. That is the reason why the transfers, until very recently have virtually always been a local fund transfer so there are no expensive international transfer fees the source of baht is unknown.
ajsp9 wrote:
September 13, 2021, 7:24 pm
so perhaps Deemoney merely facilitate this for a fee. They pay out your in coming funds prior to it landing in their account and take a % of the fees
That is extremely unlikely since transferwise was in operation (2011) long before deemoney started (2018) and what % of 82 Baht would be reasonable?
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ajsp9
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Re: Transfer Wise

Post by ajsp9 » September 13, 2021, 8:13 pm

sometimewoodworker wrote:
September 13, 2021, 7:59 pm
ajsp9 wrote:
September 13, 2021, 7:24 pm
I think the reason for these transfers being so quick is that the money that lands in your Bangkok Bank account is funds that are already in Thailand
Of course they are. There is no need for guessing. It has been in their information from the start. That is the reason why the transfers, until very recently have virtually always been a local fund transfer so there are no expensive international transfer fees the source of baht is unknown.
ajsp9 wrote:
September 13, 2021, 7:24 pm
so perhaps Deemoney merely facilitate this for a fee. They pay out your in coming funds prior to it landing in their account and take a % of the fees
That is extremely unlikely since transferwise was in operation (2011) long before deemoney started (2018) and what % of 82 Baht would be reasonable?
I didn’t see a figure of 82thb mentioned ?

If you are transferring/ facilitation millions and millions even a small % would make it worth doing

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Giggle
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Re: Transfer Wise

Post by Giggle » September 13, 2021, 8:16 pm

ajsp9 wrote:
September 13, 2021, 8:13 pm

If you are transferring/ facilitation millions and millions even a small % would make it worth doing
And an even stronger case for a flat fee -- unless you like throwing money away due to blind, laughable jingoism.
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sometimewoodworker
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Re: Transfer Wise

Post by sometimewoodworker » September 13, 2021, 9:48 pm

ajsp9 wrote:
September 13, 2021, 8:13 pm

I didn’t see a figure of 82thb mentioned ?

If you are transferring/ facilitation millions and millions even a small % would make it worth doing
You are correct the transfer fee has jumped to a whole 32.89 Baht, I wasn’t paying careful attention. So what percentage of that, It is exactly the same independent of the amount received, would make sense?
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Laan Yaa Mo
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Re: Transfer Wise

Post by Laan Yaa Mo » September 20, 2021, 2:25 am

I have given up on Wise, or perhaps, they have given up on me. After waiting over a week for an answer to a question, I have switched to my credit union for transferring money to Thailand.
You only pass through this life once, you don't come back for an encore.

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sometimewoodworker
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Re: Transfer Wise

Post by sometimewoodworker » September 20, 2021, 2:52 am

Laan Yaa Mo wrote:
September 20, 2021, 2:25 am
I have given up on Wise, or perhaps, they have given up on me. After waiting over a week for an answer to a question, I have switched to my credit union for transferring money to Thailand.
Wise have phone support and online chat support available, so it’s you giving up on them.
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kopkei
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Re: Transfer Wise

Post by kopkei » September 20, 2021, 9:37 am

i have used wise before , but only small amounts , if you make a comparison with sending by bank or wise be sure to use the good one , important is how much you receive ,so in my case if i send fe 20.000 euro to my fcd account here , i always send all cost for beneficiary , (most cheap) i will pay a total of transfer costs of 42 euro , 20 euro abroad / 22 thai bank , so i will receive 19.958 euro in my account , if i send this with wise the transfer costs are 145,45 euro , but i will receive a better exchange rate as they use mid range rates , so with wise i will receive 777.719 baht , compared to if i change same day as wise in my bank , i will get 773.323 from my 19.958 euro ....i get 4.396 baht more sending with wise ...., so the question here is , is it worth the risk sending with wise? , what if something goes wrong? , with my bank i am sure it will be quickly solved , with wise ? (you can google this matter ) , up to you to decide whats best for you ....as info ;)

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747man
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Re: Transfer Wise

Post by 747man » September 20, 2021, 11:15 am

Laan Yaa Mo wrote:
September 20, 2021, 2:25 am
I have given up on Wise, or perhaps, they have given up on me. After waiting over a week for an answer to a question, I have switched to my credit union for transferring money to Thailand.
But If you PHONE Them THEY Will Call You back Straight Away....Easy Peasy LYM !!

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Giggle
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Re: Transfer Wise

Post by Giggle » September 20, 2021, 11:28 am

They charge extortionate percentage-based fees for a simple computer-generated transaction. Give them wide berth.
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Laan Yaa Mo
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Re: Transfer Wise

Post by Laan Yaa Mo » September 21, 2021, 1:08 am

747man wrote:
September 20, 2021, 11:15 am
Laan Yaa Mo wrote:
September 20, 2021, 2:25 am
I have given up on Wise, or perhaps, they have given up on me. After waiting over a week for an answer to a question, I have switched to my credit union for transferring money to Thailand.
But If you PHONE Them THEY Will Call You back Straight Away....Easy Peasy LYM !!
Thanks, you are correct. However, I gave up on my cell phone around three years ago mostly because I kept getting annoying alerts that Everton was in another 0-0 draw with no shots on either goal. I use e-mail but Wise didn't answer in over a week so I went the credit union route. The Canadian dollar is sinking faster than Everton's place in the mid-table so we'll see how the transfer works out financially compared to Wise.

Thanks for thinking of me, I appreciate that.
You only pass through this life once, you don't come back for an encore.

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sometimewoodworker
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Re: Transfer Wise

Post by sometimewoodworker » September 21, 2021, 7:40 am

Laan Yaa Mo wrote:
September 21, 2021, 1:08 am
747man wrote:
September 20, 2021, 11:15 am
Laan Yaa Mo wrote:
September 20, 2021, 2:25 am
I have given up on Wise, or perhaps, they have given up on me. After waiting over a week for an answer to a question, I have switched to my credit union for transferring money to Thailand.
But If you PHONE Them THEY Will Call You back Straight Away....Easy Peasy LYM !!
Thanks, you are correct. However, I gave up on my cell phone around three years ago mostly because I kept getting annoying alerts that Everton was in another 0-0 draw with no shots on either goal. I use e-mail but Wise didn't answer in over a week so I went the credit union route. The Canadian dollar is sinking faster than Everton's place in the mid-table so we'll see how the transfer works out financially compared to Wise.

Thanks for thinking of me, I appreciate that.
& you didn’t use the live chat function or a landline because?
Jerome and Nui's new househttp://bit.ly/NJnewHouse

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fatbob
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Re: Transfer Wise

Post by fatbob » September 21, 2021, 8:16 am

sometimewoodworker wrote:
September 21, 2021, 7:40 am
Laan Yaa Mo wrote:
September 21, 2021, 1:08 am
747man wrote:
September 20, 2021, 11:15 am
Laan Yaa Mo wrote:
September 20, 2021, 2:25 am
I have given up on Wise, or perhaps, they have given up on me. After waiting over a week for an answer to a question, I have switched to my credit union for transferring money to Thailand.
But If you PHONE Them THEY Will Call You back Straight Away....Easy Peasy LYM !!
Thanks, you are correct. However, I gave up on my cell phone around three years ago mostly because I kept getting annoying alerts that Everton was in another 0-0 draw with no shots on either goal. I use e-mail but Wise didn't answer in over a week so I went the credit union route. The Canadian dollar is sinking faster than Everton's place in the mid-table so we'll see how the transfer works out financially compared to Wise.

Thanks for thinking of me, I appreciate that.
& you didn’t use the live chat function or a landline because?
Well you did something wrong, not them, I emailed them last week, had a reply four hours later, transferred money last Friday, in my account 2 hours later, all that works for me.

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noosard
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Re: Transfer Wise

Post by noosard » September 21, 2021, 9:34 am

Just used to transfer from Oz rate 24.265 no problems

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sometimewoodworker
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Re: Transfer Wise

Post by sometimewoodworker » September 21, 2021, 11:11 am

fatbob wrote:
September 21, 2021, 8:16 am
sometimewoodworker wrote:
September 21, 2021, 7:40 am
Laan Yaa Mo wrote:
September 21, 2021, 1:08 am
747man wrote:
September 20, 2021, 11:15 am
Laan Yaa Mo wrote:
September 20, 2021, 2:25 am
I have given up on Wise, or perhaps, they have given up on me. After waiting over a week for an answer to a question, I have switched to my credit union for transferring money to Thailand.
But If you PHONE Them THEY Will Call You back Straight Away....Easy Peasy LYM !!
Thanks, you are correct. However, I gave up on my cell phone around three years ago mostly because I kept getting annoying alerts that Everton was in another 0-0 draw with no shots on either goal. I use e-mail but Wise didn't answer in over a week so I went the credit union route. The Canadian dollar is sinking faster than Everton's place in the mid-table so we'll see how the transfer works out financially compared to Wise.

Thanks for thinking of me, I appreciate that.
& you didn’t use the live chat function or a landline because?
Well you did something wrong, not them, I emailed them last week, had a reply four hours later, transferred money last Friday, in my account 2 hours later, all that works for me.
It’s better to quote the post you are actually replying to not the reply to it.
I successfully use Wise. It’s the techno luddite who doesn’t
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mak
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Re: Transfer Wise

Post by mak » January 15, 2022, 6:08 am

As of 7 Jan they were restricted to sending a maximum of Thb50000 in any one transaction to any Thai bank except Kasikorn, Siam Commercial and Bangkok Bank.

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