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BANGKOK 23 March 2019 13:29


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Everything posted by SooKee

  1. Is comprehension not a strong point? The posts I made above were comparing Transferwise to OFX, not OFX to SWIFT the latter of which is normally even more expensive. The reference to SWIFT above (post 25), which in itself was posted in response to posts 23/24, in this case was merely with regard to that even the SWIFT option is better value than OFX. As to where the "quibbling over a few hundred baht" (also wrong) bright idea comes from I have even less idea. I can only explain it you you, I can't understand it for you!
  2. Up to you whether you consider it quibbling or not, your opinion is of zero interest to me. The fact is however when using two similar services OFX, in some cases, charges MUCH more than Transferwise to send the same amount of GBP to Thailand. It's not a few hundred baht either, far from it! On £2,000 it's around 1,400, on £3,000 around 2,000 baht. I'd have thought anyone with any common sense would choose to use the option that offers better VFM, if your'e mug enough to throw 1,400 baht plus down the drain for no reason, up to you!!
  3. Very strange. I might mail them at some stage. I only recently registered with OFX and used my Thai address and provided account info to them (IIRC) to a UK bank account. No mention anywhere of free transfers for me either. As it stands for me at the moment I wouldn't even consider OFX as an option at the moment given that even a bank SWIFT would be better value.
  4. Not certain how you're getting your OFX figures with GBP to THB. Checking again for £1,000 OFX at this moment in their app shows a rate of 40.746 after they've taken their £7 fee and has 40,746 reaching your payee. TW shows a rate of 41.6977 with a £6.81 fee and 41,413.79 reaching your payee. No idea why you're seeing rates from OFX which are that much better. OFX show in their Market Rate £1 = 41.574 but you get nowhere near that rate when logged in and setting up a transfer. Posted using Tapatalk
  5. Choosing OFX over TransferWise is doubtless going to be influenced by the currency you are sending too. With USD OFX do seen very competitive Checked again the other day and when sending GBP it's not the same, TransferWise are better by quite some margin. Sending £2,000 will result in the following hitting your account: OFX: 82,331.80 (from which the back will deduct their service charge of approx 200) TW: 83,516.08 So, using TW will net you an extra 1,384.28 after bank fees are deducted.
  6. Yeah, not near one at the moment sadly. Just mentioned it to a chum who uses it though and he said apparently it's normal. OFX can only give rates for THB when the exchanges here in Thailand are open, so Monday to Friday 9-5 approx. He said if you use a computer it will have a banner saying that when you log on, the app just says "Can't give you a rate". Be interesting to see how it compares with GBP/THB. Last time I checked, just after I set up OFX (and that was with the laptop) OFX were slightly more expensive than TW, by about 5-600 baht on around £2,300. BKK Bank London (they are currently registering my application which I sent from Thailand) would charge £20 for the sending GBP to LOS, can't recall BKK Bank's local inward fee for foreign currency coming in that they then exchange to baht. Never done a transfer with OFX so Im not sure if, like when using a bank, you can specify to transfer in GBP and have the Thai Bank convert it or if you have to specify GBP > baht. If they pay out the same rate as the bank, probably no pint in sending GBP (if indeed you can).
  7. The few times I've opened their app, having registered and verified my account, when looking to try a transfer I keep getting 'We can't give you a rate right now'. Just tried it and same again. Being unable to get being that screen means you can't even add a recipient. Good job!! Sent an email to their customer support to try and see what the problem is. Tried re-installing the app. No joy. Maybe I've just been unlucky to catch a systems problem each time. Or maybe someone forgot to flick a switch their end once the account was verified. Doesn't really inspire confidence though!!
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