Transferwise.

This section is for general money matters, finance and investing.
User avatar
Charlieb
udonmap.com
Posts: 714
Joined: January 18, 2007, 4:49 pm
Location: Udon Thani

Re: Transferwise.

Post by Charlieb » May 15, 2019, 10:25 am

You can transfer any amount but if you transfer more than 50,000 US Dollar in one go you have to fill in a special form from the main bank in Bangkok.
Unless there is a recent change in rules this is not true, I have transferred $100,000 twice, for car and house purchases, and never a question or a form. This is with Bangkok Bank.

pal52
udonmap.com
Posts: 667
Joined: September 18, 2013, 10:54 am

Re: Transferwise.

Post by pal52 » May 15, 2019, 10:47 am

Charlieb wrote:
May 15, 2019, 10:25 am
You can transfer any amount but if you transfer more than 50,000 US Dollar in one go you have to fill in a special form from the main bank in Bangkok.
Unless there is a recent change in rules this is not true, I have transferred $100,000 twice, for car and house purchases, and never a question or a form. This is with Bangkok Bank.
This was 5 years ago with the Kasikorn bank.
I transferred 70.000 US and had to go to the bank & fill in a form stating what the money was for.

glalt
udonmap.com
Posts: 1401
Joined: January 14, 2007, 10:35 am
Location: Nong Hin, Loei

Re: Transferwise.

Post by glalt » May 15, 2019, 2:41 pm

I have no love for Citibank but I keep using them because I can do the wire transfers totally on-line. They used to charge a flat $30 regardless of the amount of the transfer. Then they got greedy and added another $15 for an intermediary bank which is of course also Citibank. Once or twice a year won't break me.

User avatar
tamada
udonmap.com
Posts: 3326
Joined: February 21, 2007, 4:03 am
Location: down two... then left

Re: Transferwise.

Post by tamada » May 15, 2019, 5:16 pm

^ That's a really steep surcharge but as you say, once or twice a year isn't too painful. My bank charges £15 and then there's whatever the receiving bank pulls out of their arses for a processing fee, overseas transaction fee or whatever. Regarding the latter, when they started being applied, not everyone had access to online banking and it was a fee that ostensibly went towards the development and support of a nascent, comparatively low-use service. Now with smartphones, apps and plastic that works in (nearly) every ATM in the world, it's a huge cash cow that helps pay for irrelevant, mostly empty main branch offices and clueless staff.

SJP17
udonmap.com
Posts: 532
Joined: May 16, 2012, 5:39 pm

Re: Transferwise.

Post by SJP17 » May 15, 2019, 9:33 pm

So how would you advise doing tweny five thousand pounds from UK to Thailand ?

Is this a bad idea with Transferwise ?

User avatar
sometimewoodworker
udonmap.com
Posts: 1204
Joined: October 7, 2008, 11:19 am

Re: Transferwise.

Post by sometimewoodworker » May 16, 2019, 7:06 am

SJP17 wrote:
May 15, 2019, 9:33 pm
So how would you advise doing tweny five thousand pounds from UK to Thailand ?

Is this a bad idea with Transferwise ?
While the fee for that amount is higher than a SWIFT transfer in my experience the exchange rate for TransferWise is enough to cover the difference.

I have found the absolute best rate to be cash exchanged at green SuperRich HQ for £25k you get ฿12,370 more this morning.

With both cash and TransferWise you can find out exactly how much you will get, with a SWIFT transfer you have do the transfer first then you find out if it was a good deal.

If I were not traveling between the UK and Thailand I would do a transfer of that amount through TransferWise as I can do everything from home, convince and certainty wins for me.

So I think it is a good idea not a bad one.
IMG_7369-2.jpeg
IMG_7370-2.jpeg
IMG_7373-2.jpeg
Jerome and Nui's new househttp://bit.ly/NJnewHouse

the-monk
udonmap.com
Posts: 549
Joined: August 20, 2012, 4:56 am

Re: Transferwise.

Post by the-monk » May 16, 2019, 10:56 am

http://www.nationmultimedia.com/detail/ ... s/30369490

KBank launches K PLUS overseas funds transfer feature

May 16 2019

User avatar
747man
udonmap.com
Posts: 9872
Joined: March 25, 2007, 2:22 pm

Re: Transferwise.

Post by 747man » May 16, 2019, 4:37 pm

I have found the absolute best rate to be cash exchanged at green SuperRich HQ for £25k you get ฿12,370 more this morning........

Oh !! Ain't THAT Great ?? All I Need to do now is FIND The 25k GBP.......

SJP17
udonmap.com
Posts: 532
Joined: May 16, 2012, 5:39 pm

Re: Transferwise.

Post by SJP17 » May 16, 2019, 8:29 pm

sometimewoodworker wrote:
May 16, 2019, 7:06 am
SJP17 wrote:
May 15, 2019, 9:33 pm
So how would you advise doing tweny five thousand pounds from UK to Thailand ?

Is this a bad idea with Transferwise ?
While the fee for that amount is higher than a SWIFT transfer in my experience the exchange rate for TransferWise is enough to cover the difference.

I have found the absolute best rate to be cash exchanged at green SuperRich HQ for £25k you get ฿12,370 more this morning.

With both cash and TransferWise you can find out exactly how much you will get, with a SWIFT transfer you have do the transfer first then you find out if it was a good deal.

If I were not traveling between the UK and Thailand I would do a transfer of that amount through TransferWise as I can do everything from home, convince and certainty wins for me.

So I think it is a good idea not a bad one.
IMG_7369-2.jpeg

IMG_7370-2.jpeg

IMG_7373-2.jpeg
Thanks for the info, at the moment i am just sitting on the money to see if we get any resolution with this brexit fiasco even a few baht increase could be a major boost to present rates.

User avatar
Old Grumpy
udonmap.com
Posts: 147
Joined: April 28, 2018, 10:36 am

Re: Transferwise.

Post by Old Grumpy » May 17, 2019, 6:24 am

It is possibly worth noting that Transferwise Have a 2 million baht maximum per transaction anyway .

Post Reply

Return to “Money, Finance & Investing”

Who is online

Users browsing this forum: No registered users and 1 guest