WISE

[Jeppe]

I have done a couple of transfers from my Norwegian bank to Bangkok Bank recently, typically around 30.000THB each time. The money has arrived within seconds.

 

[merlin]

I have done a couple of transfers from my Norwegian bank to Bangkok Bank recently, typically around 30.000THB each time. The money has arrived within seconds.

Might we know please if the transfer was direct to Bkk Bank from yours, or if it was done through Wise or another organization?

 

[merlin]

I chose to access some funds by using my UK bank debit card at the Bkk Bank at Robinsons yesterday. Sadly, I entered the incorrect pin number twice during the transaction (I shouldn't be allowed out alone anymore!) and that blocked the card. After arriving home, I called my UK bank and requested the card be reinstated, only to be told that it wasn't blocked... and that I could use it immediately, suggesting that I withdrew a minimal amount as a test.

I returned to Bkk bank today, and tried my card again. It was refused again. I called my UK bank threatening them with charges for the inconvenience, but they again said that there was no block on the card, nor was there any record of it being declined - yesterday or today. I then tried it again in the ATM machine outside the bank, and it was accepted - after I agreed to pay the 220 baht charge involved. No one accepted responsibility for the block... with Bkk bank assuring me that their counter-top card reader was working normally, and that it must therefore be my UK bank at fault. Anyone else experienced this?

I'll take the pills again tonight!

 

[Jeppe]

Might we know please if the transfer was direct to Bkk Bank from yours, or if it was done through Wise or another organization?

It was done with the wise app from my debit card to an Bangkok Bank account. If I send as a normal bank to bank transfer, it usually take 2-3 days + weekend.

 

[merlin]

Using Wise has proved beneficial to me in that the exchange rate is better (than HSBC) and charges are lower. I no longer see the infernal words "Non-Sterling transaction fee" plus the size of the fee on my bank statements!

However, if I create the transfer on a Thursday, exchanging the currency beforehand, the transfer doesn't arrive in my bank account for a day or two, and sometimes longer. I wondered how others seemed to receive their transfers on the same day, sometimes within minutes or even seconds.

An item in Asean Now seems to explain that this has to do with the reason for the transfer as notified to Wise... read on if you need to know (the item also compares Wise and Revolut as a bonus): https://aseannow.com/topic/1321125-...d-revoluts-key-features-and-where-they-excel/

 

[CO-CO]

Using Wise has proved beneficial to me in that the exchange rate is better (than HSBC) and charges are lower. I no longer see the infernal words "Non-Sterling transaction fee" plus the size of the fee on my bank statements!

However, if I create the transfer on a Thursday, exchanging the currency beforehand, the transfer doesn't arrive in my bank account for a day or two, and sometimes longer. I wondered how others seemed to receive their transfers on the same day, sometimes within minutes or even seconds.

An item in Asean Now seems to explain that this has to do with the reason for the transfer as notified to Wise... read on if you need to know (the item also compares Wise and Revolut as a bonus): https://aseannow.com/topic/1321125-...d-revoluts-key-features-and-where-they-excel/

99% of the time my transfers take seconds, whether I mark them as 'funds for long term stay in Thailand ' or 'general living expenses '.

I transfer from HSBC to my WISE Sterling account - then I send from there to Kasikorn Bank

 

[Ivor the Engine]

99% of the time my transfers take seconds, whether I mark them as 'funds for long term stay in Thailand ' or 'general living expenses '.

I transfer from HSBC to my WISE Sterling account - then I send from there to Kasikorn Bank

+1
Nationwide>Wise> SCB.

 

[merlin]

99% of the time my transfers take seconds, whether I mark them as 'funds for long term stay in Thailand ' or 'general living expenses '.

I transfer from HSBC to my WISE Sterling account - then I send from there to Kasikorn Bank

+1
Nationwide>Wise> SCB.

Dare I assume that you exchange into baht using Wise immediately before you do the transfer? Or do you transfer Sterling into baht before then, and transfer it on a later date?

 

[ColinW]

Dare I assume that you exchange into baht using Wise immediately before you do the transfer? Or do you transfer Sterling into baht before then, and transfer it on a later date?

I use Wise transfer sterling into baht and send to Thailand at a later date.

 

[merlin]

I use Wise transfer sterling into baht and send to Thailand at a later date.

Thanks Colin. I've a feeling that delays in receiving funds at Bangkok Bank occur when a £/THB currency exchange is followed immediately by a transfer, while exchanged funds already sitting in a Wise THB account are sent immediately.

 

[CO-CO]

Dare I assume that you exchange into baht using Wise immediately before you do the transfer? Or do you transfer Sterling into baht before then, and transfer it on a later date?

Never convert. Always send from the Sterling balance.

Can't see the point of 'holding' Baht once you have committed to an exchange rate.

 

[ColinW]

Never convert. Always send from the Sterling balance.

Can't see the point of 'holding' Baht once you have committed to an exchange rate.

In my case I believe that Immigration, for an unknown reason, want to see the monthly transfer coming in at the same time every month. To avoid any unnecessary problems I transfer 65000 baht on the 1st of every month but transfer into the Wise baht account when I think the rate is good or acceptable.
The proviso being that I am as lightly to forecast the exchange rate movement correctly as wrongly.

 

[ColinW]

Thanks Colin. I've a feeling that delays in receiving funds at Bangkok Bank occur when a £/THB currency exchange is followed immediately by a transfer, while exchanged funds already sitting in a Wise THB account are sent immediately.

They may be sent immediately by Wise but the money always arrives in my BKK account shortly after 2.00pm the following day or same day if I get up early to do the transfer

 

[CO-CO]

They may be sent immediately by Wise but the money always arrives in my BKK account shortly after 2.00pm the following day or same day if I get up early to do the transfer

I think I benefit from being with Kasikorn bank.

 

[Ivor the Engine]

Wise fees are increasing for those who use debit/credit cards. Bank account to bank account transfers seem unaltered

 

[FERRET]

Wise fees are increasing for those who use debit/credit cards. Bank account to bank account transfers seem unaltered

My monthly pension is transfereed via OFX fee free however, the exe rate is .5 baht lower than the market rate.

 

[CO-CO]

My monthly pension is transfereed via OFX fee free however, the exe rate is .5 baht lower than the market rate.

Not free then, is it?

Nothing is for free, you will pay one way or another.

 

[CO-CO]

Wise fees are increasing for those who use debit/credit cards. Bank account to bank account transfers seem unaltered

I don't think that is correct:-

 

[FERRET]

Not free then, is it?

Nothing is for free, you will pay one way or another.

I said fee free, you are still screwed by the EXE rate quoted--we are all prostitutes in some way, its how much we get paid that counts.

 

[Prakhonchai Nick]

I said fee free, you are still screwed by the EXE rate quoted--we are all prostitutes in some way, its how much we get paid that counts.

If the rate you receive is 0.5 less than EXE rate, with no extra fee, it is a good deal ONLY FOR SMALL TRANSFERS. . Send A$10,000, and you lose 5,000 baht!!!!!!