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BANGKOK 21 February 2019 16:48
JTXR

Experiences with Transferwise?

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2 hours ago, glegolo said:

For us in Sweden, there is no doubt when it comes to SWIFT transfers.. We buy thaibaht and send that from our swedish banks... Better rate then the thaibanks offers.

That is surprising.

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22 minutes ago, KittenKong said:

That is surprising.

Yeah for some unknowlingly swedes too.. I do not know how things are in UK. But check up and see and compare, surpricing for me too when we discovered it here...

 

glegolo

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Yeah for some unknowlingly swedes too.. I do not know how things are in UK. But check up and see and compare, surpricing for me too when we discovered it here...
 
glegolo
There is no way it is cheaper in the UK to send baht rather than pounds. You will always get a better exchange rate if you send pounds.

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1 hour ago, trd said:
1 hour ago, glegolo said:
Not as good as  my suggestion to just do a pretend-transfer via SWIFT in your bank without actually press ther go-buttom, and see the rate of exchange there... Then you will have WITHOUT any doubts the banks costs and can compare properly...
 
glegolo

I know that without doing a pretend transfer. I know that my bank charges a fixed £25 for a swift transfer. I don't send Baht to Thailand, I send pounds and have it converted in Thailand which is cheaper. I thought everyone knew that. Then I go to my Thai bank and check the latest TT rate. Then I have the answer. But the problem with that is that by the time my bank sends the pounds to Thailand the exchange rate will have changed and that is out of my control. With Transferwise of course you get the guaranteed mid rate at the time you make the transaction.

So you dare to be sure about the rates??? The swedish banks have BETTER rates than the thai ones.... How about that???? Maybe the british banks also have better rates than the thai aones???? You are sure I guess???

 

glegolo

 

glegolo

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So you dare to be sure about the rates??? The swedish banks have BETTER rates than the thai ones.... How about that???? Maybe the british banks also have better rates than the thai aones???? You are sure I guess???
 
glegolo
 
glegolo
No. Maybe I'm just dreaming.

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1 minute ago, trd said:
3 minutes ago, glegolo said:
Yeah for some unknowlingly swedes too.. I do not know how things are in UK. But check up and see and compare, surpricing for me too when we discovered it here...
 
glegolo

There is no way it is cheaper in the UK to send baht rather than pounds. You will always get a better exchange rate if you send pounds.

OK,,,, I believe not all banks in the world are as good as the swedish ones then.. OR maybe you are mistaken..

 

glegolo

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14 minutes ago, glegolo said:

I do not know how things are in UK. But check up and see and compare, surpricing for me too when we discovered it here...

It certainly isnt the case in the UK. Buying THB there always costs more than sending GBP here and buying THB here.

 

Do you have a link to a Swedish bank website that shows their current rates?

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13 hours ago, raven0099 said:

How much is the limit for sending to a Thai account ? 

I am looking to transfer in the region of 25k UK, will i have problems with Transferwise ?

- 2'000'000 THB

- Maybe not "problems" but for a transfer over 20'000€ they asked me for documentation about origin and use of my transfer. They didn't ask for 10'000€.

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1 hour ago, KittenKong said:

It certainly isnt the case in the UK. Buying THB there always costs more than sending GBP here and buying THB here.

 

Do you have a link to a Swedish bank website that shows their current rates?

Yes I have, and they only show the middayrate each day, but what regards SWIFT we customers always gets the highest rate on the spotmarket...

https://bank.nordea.se/webapp-pages/valutakurser.html

 

glegolo

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One thing to point out about Transferwise is the rate they quote is the rate before charges deducted. Its not clear funny enoughScreenshot_20190114-103737_Calculator.jpeg

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I did a test Transfer last Friday with Transferwise I only send EUR 500,-

I just received THB 18.209,77 in my BBL Bank account

 

The TT Buying Rate @8:30 am (Today) was THB 36,25250

The Transfer wise THB rate was: THB 18.209,77 / 500 = 36,41954

So the Transferwise was way BETTER then the Bank.

 

I know it could also work the other way round (rate WISE I mean), but I am happy.

 

I Already have done another 2 Transfers with MUCH larger amounts, 1 via my Bank and 1 via Transferwise, and I will report back on the rates etc.

 

The only DISADVANTAGE is, but I think that's normal for BBL, that the transfers Arrive mid afternoon (2PM+) instead of early morning with for example SCB

 

Ps: And I just checked it shows up as an International Transfer in iBanking (BBL)

Edited by MJCM

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I did a test Transfer last Friday with Transferwise I only send EUR 500,-
I just received THB 18.209,77 in my BBL Bank account
 
The TT Buying Rate @8:30 am (Today) was THB 36,25250
The Transfer wise THB rate was: THB 18.209,77 / 500 = 36,41954
So the Transferwise was way BETTER then the Bank.
 
I know it could also work the other way round, but I am happy.
 
I Already have done another 2 Transfers with MUCH larger amounts, 1 via my Bank and 1 via Transferwise, and I will report back on the rates etc.
 
The only DISADVANTAGE is, but I think that's normal for BBL, that the transfers Arrive mid afternoon (2PM+) instead of early morning with for example SCB
 
Ps: And I just checked it shows up as an International Transfer in iBanking (BBL)
If you mean by the other way around, transferring baht to Euro you cannot with Transferwise.

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14 minutes ago, trd said:
18 minutes ago, MJCM said:
I did a test Transfer last Friday with Transferwise I only send EUR 500,-
I just received THB 18.209,77 in my BBL Bank account
 
The TT Buying Rate @8:30 am (Today) was THB 36,25250
The Transfer wise THB rate was: THB 18.209,77 / 500 = 36,41954
So the Transferwise was way BETTER then the Bank.
 
I know it could also work the other way round, but I am happy.
 
I Already have done another 2 Transfers with MUCH larger amounts, 1 via my Bank and 1 via Transferwise, and I will report back on the rates etc.
 
The only DISADVANTAGE is, but I think that's normal for BBL, that the transfers Arrive mid afternoon (2PM+) instead of early morning with for example SCB
 
Ps: And I just checked it shows up as an International Transfer in iBanking (BBL)

If you mean by the other way around, transferring baht to Euro you cannot with Transferwise.

 

Sorry changed my text. With other way around I meant Rates could have increased.

 

But I initiated 2 transfers today (MUCH larger amounts and Both the same amounts)

 

1- Via my Bank -> Thai Bank (BBL) (with their 9 EURO fee and Thai Bank costs and bad exchange rate)

2- Via Transferwise -> Thai Bank (BBL)

 

Will report back tomorrow (2pm++ ???? 😉

Edited by MJCM
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Did we get a conclusion whether immigration will accept ALL Transferwise transfers as Intl payments?

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Did we get a conclusion whether immigration will accept ALL Transferwise transfers as Intl payments?
How many times does this have to be said? Immigration aren't involved in acceptance or non-acceptance. They accept the bank letter!! It is for the bank to agree this and if they do they prepare a letter and statement for immigration. Do you appreciate the difference?

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