Wise - UK to Thailand Money Transfers (formerly Transferwise)

ColinW said:
I think it depends on the time you originate the transfer in the UK
Bangkok Bank credit once a day a few minutes after 2 pm, so Nomad you missed it
Click to expand...

@ColinW, I know but my previous 2 transfers were almost instantaneous (see my opening post #1). However, this time around I did select the reason for transfer "Send monthly living allowances to Thailand" or whatever the wording was. The last option/reason on the list. Maybe that has slowed things down.

Status from Transferwise .............................

upload_2019-10-1_15-38-40.png
 
mario299 said:
Just did a transfer, the exchange rate was 30.615 for US dollar. Terrible...
Click to expand...

You sure beat the 30.52 USD Foreign Currency Account exchange into THB that I received at Bangkok Bank yesterday.
I believe XE was quoting 30.66 at the time.

Mario, I've read that the lower exchange rate is [supposedly] good for the interests of American-based corporations to push exports.
 
Coffee said:
You sure beat the 30.52 USD Foreign Currency Account exchange into THB that I received at Bangkok Bank yesterday.
I believe XE was quoting 30.66 at the time.

Mario, I've read that the lower exchange rate is [supposedly] good for the interests of American-based corporations to push exports.
Click to expand...


Same argument about our weak Pound.

Europeans (and others) can now buy our goods & services, and businesses, for a 15/20% discount..
 
Coffee said:
You sure beat the 30.52 USD Foreign Currency Account exchange into THB that I received at Bangkok Bank yesterday.
I believe XE was quoting 30.66 at the time.

Mario, I've read that the lower exchange rate is [supposedly] good for the interests of American-based corporations to push exports.
Click to expand...
You may or may not already know this info Coffee, but I'll give it out anyway. I have all my U.S. fund deposits (Soc. Sec, etc) direct deposited to TransferWise and then I transfer in Baht to my Bangkok Bank account. Doing it this way gives me a better exchange rate and lesser fees than what I previously did, which was to have U.S. funds put in U.S. bank (Chase Bank), then transferred to Bangkok Bank here.
Every time someone's sticky fingers handled my money, then someone got a fee or gave a lesser exchange rate.

You mention that you received 30.52/$$ yesterday at Bangkok Bank, was this a deposit or just an exchange of U.S. dollar for Thai Baht, because if it was a deposit and you followed my method, then you would have been given the 30.66.
Just sayin'...
 
@mario299 , mine was an exchange from USD held in a Foreign Currency Account (FCA-US$) strsight into my THB savings account.

What was the fee you paid to Transferwise ?
Or is it strictly a commision-based fee on the amount transferred ?
 
@Coffee: this one was a deposit of $1054 for a fee of $8.83 total. I will have Bt31,997.88 in Bangkok Bank account at 2:00 p.m. today (hopefully, but usually). I think the fees are based on the amount, but easy for you to check by going to TransferWise.
Much better than it used to be with Chase Bank charging $40 for transfer and Bangkok Bank paying low exchange rate.
 
mario299 said:
@Coffee: this one was a deposit of $1054 for a fee of $8.83 total. I will have Bt31,997.88 in Bangkok Bank account at 2:00 p.m. today (hopefully, but usually). I think the fees are based on the amount, but easy for you to check by going to TransferWise.
Much better than it used to be with Chase Bank charging $40 for transfer and Bangkok Bank paying low exchange rate.
Click to expand...

The one I transferred yesterday was back to normal - deposited at 14.01 today. And, would you believe it,


upload_2019-10-2_14-6-45.png

the account is marked International Transfer. The earlier method I discussed, moved the money almost instantly but showed on the slip as a transfer from another bank. I guess, for Immigration purposes, I will have to select the slower option to get the correct code on the bank statement.
 
Prakhonchai Nick said:
I have used various reasons for transfer to Kasikorn from their drop down list, but never received money showing International Transfer. It always just shows as DUMMY BRANCH
Click to expand...
My statement with Bangkok Bank shows "Transfer from account at Other Bank", obviously meaning TransferWise.
 
mario299 said:
@Coffee: this one was a deposit of $1054 for a fee of $8.83 total. I will have Bt31,997.88 in Bangkok Bank account at 2:00 p.m. today (hopefully, but usually). I think the fees are based on the amount, but easy for you to check by going to TransferWise.
Much better than it used to be with Chase Bank charging $40 for transfer and Bangkok Bank paying low exchange rate.
Click to expand...


THB 32,000 ÷ US$1054 = 30.36
 
mario299 said:
My statement with Bangkok Bank shows "Transfer from account at Other Bank", obviously meaning TransferWise.
Click to expand...
If you need monthly transfers to support your yearly extension to stay, you would be better off with "Internation Transfer" on your bank statement. They appear to have changed the system back in June, before then all my transfers were "International Transfers". For a couple of months they were "Transfer from account at Other Bank" until @ColinW pointed out the error. By choosing the last option on the Transferwise drop-down menu, "Send monthly living allowances to Thailand" (or similar), it appears to be a next day delivery and in the account just after 14.00.
 
Coffee said:
THB 32,000 ÷ US$1054 = 30.36
Click to expand...
It's either your reading skills, math skills or you are looking to find fault with me, but:
$1054.00 minus $8.83 equals $1045.17
31,997.88 divided by 1045.17 equals 30.6150004
It was TransferWise doing the math for me after all.

You're welcome...
 
I always work on the gross amount sent and the net received.. Others make operate differently.

By the looks of it your net was 30.358.
 
Prakhonchai Nick said:
I always work on the gross amount sent and the net received.. Others make operate differently.

By the looks of it your net was 30.358.
Click to expand...


I would have to agree with this: the gross rate is irrelevant - you can only spend the net amount received..;):grinning:
 
You must log in or register to reply here.
Back
Top