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Pay 0 (zero) when sending USD or EUR to Thailand. Avoid 200 THB international ATM withdrawal

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Pay 0 (zero) when sending USD or EUR to Thailand. Avoid 200 THB international ATM withdrawal

 

Targeting financial services to expat, digital nomad and cryptocurrency communities, the fintech challenger Everex.io came with a new and interesting service of using blockchain for instant cross-border transfer and domestic money exchange. Serving currency corridors between USD, EUR, crypto and THB, Everex offers huge savings on currency exchange, transfers, and most importantly, free cardless ATM withdrawals.

 

When you run out of cash and it’s time to get a new stash, that’s when most of us get caught with 200-220 THB ATM international withdrawal fees that are charged by banks on the top of the currency exchange rate, which may reach additional 4-5%. Everex found a way to deliver THB only for around 1% over interbank currency conversion rates. There are no additional fees or commission, whether you do transfer to Thai bank account or request cardless ATM withdrawal. And what’s cool is а real same day delivery and no withdrawal fees. Bank account or card is not required to use this service.

 

 

everex.jpg

 

How it Works

 

  1. Sign up and verify your identity. After verification, add THB to your wallet by depositing the quoted amount in EUR or USD. If you are a crypto friendly person, you can use DAI (USD) or EVX token to send to your wallet address.
  2. Once Everex team receives your funds, THB will appear in your Everex wallet within minutes. If you transfer EVX or DAI it will appear on your Everex balance automatically.
  3. To receive cash in THB, locate Withdrawal function in the wallet and specify how you want to receive it: via ATM or Thai bank account. If you select Cardless ATM, note that there is 20,000 THB limit per transaction. For bank account withdrawal the limit is 30,000 THB. No bank account or card is required for ATM withdrawals. Nor you will pay any withdrawal fees.
  4. This service is available in any major city in Thailand, including Bangkok, Pattaya, Phuket, Chiang Mai and other popular destinations.


Do you first transfer with Everex Wallet. For more details visit Everex site

 

 

Get the app

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44 minutes ago, Gumballl said:

...

5. We offer a very poor exchange rate (that is how we make up for the fees that would otherwise be charged).

Have you tried the service before bashing it? Maybe you should

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Took about 12 hours from my euro deposit to ATM withdrawal (in Bangkok). Tried to calculate the total cost and netted about 1% all around. Not bad and no ATM fees is really neat. Best part - I don’t have to worry about my card begin chewed by greedy ATM lol

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Signed up and uploaded passport plus selfie photo using online wallet 2 hours ago. How long does verification take? Would appreciate support from pips who have tried it. Looks like it is fairly new to the market.

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I signed up yesterday and after uploading the photos the confirmation was quite quick.

Within an hour or so.

Now waiting for assets (EVX) to be credited.

The only option I could use was a SEPA transfer from German bank yesterday (minimum required amount) to their UK account. Probably the slow channel and spoiling the "quick transfer".

Wait and see...

 

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1 hour ago, Sangsomm said:

Signed up and uploaded passport plus selfie photo using online wallet 2 hours ago. How long does verification take? Would appreciate support from pips who have tried it. Looks like it is fairly new to the market.

The verification process usually takes a few hours. If you an American expat in Thailand on long term visa, we suggest putting your local address and phone number, instead of home country details. You can contact us directly on Telegram Chanel @EVXDirect or join our Facebook Group https://www.facebook.com/groups/everexone for wallet related questions.

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Posted (edited)
20 hours ago, The Maven said:

Took about 12 hours from my euro deposit to ATM withdrawal (in Bangkok). Tried to calculate the total cost and netted about 1% all around. Not bad and no ATM fees is really neat. Best part - I don’t have to worry about my card begin chewed by greedy ATM lol

A 1% hit is quite excellent. On 30,000 THB (or roughly $1,000 USD), that is 300 THB. I can think of no better deal getting USD into THB. Regarding them making their profits on the exchange rate - guess what? So does the bank, Western Union, Paypal, etc. In fact, many of them will hit you with worse than 1%, on top of their fees!

Edited by timendres
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29 minutes ago, Everex said:

we suggest putting your local address and phone number, instead of home country details

What I did.

I also got a phone-call with Thai female voice.

Just said I don't understand and bye bye.

Guess it has to do with the verification?

 

 

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Can anyone expand on the how to fund your account/transfer with Everex, especially if you need to get the money from a US bank?

 

In the US you basically have two ways to do a funds transfer: ACH or Wire.   ACH is free/low cost at the bank but the funds need to be sent to another US bank acct which I expect Everex "may" have, but before the funds can be sent normally trial deposits need to be sent for verification purposes.   Does Everex have ACH Pull/Withdrawal capability where they can withdraw the funds vs a person needing to do an ACH Push to Everex.   

 

And using a Wire is just expensive....typically a US domestic wire will cost around $20 and an international wire (SWIFT) $30 or more.  

 

Anyone who can expand on the details of funding the Everex acct using a US bank acct is appreciated. Couldn't find any "real detail" on the Everex website in how to get the money to them.

 

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22 hours ago, KhunBENQ said:

The only option I could use was a SEPA transfer from German bank yesterday (minimum required amount) to their UK account. Probably the slow channel and spoiling the "quick transfer".

Wait and see...

Yea....in cyptocurrency type transfers they like to talk the quick transfer from one wallet to another but always seem to not mention the part about the time to push/pull fiat currency to your cypto wallet so you can then do the transfer and maybe costs associated with the fiat currency transfer into the wallet.

 

I'm interested in this Everex thingie, but their website is really lacking on "details/fees/exchange rate/etc."  Need to wait for someone to provide a real world detailed example for a transfer to include getting the money from their bank into the Everex wallet.

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compared to transferwise direct transfer to my thai bank account Everest is more expensive, marginal however .5%

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I wonder if one gets Euros/$ in Thailand or Baht.

In case, let's say I use the Thai bank account to receive the money in Baht, then my bank will use their own exchange rate....and that's bad rate for me.....Anyone?

Just to clarify: when I use my home's atm card, I getbetter rate than exchanging my cash in any bank in LoS

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