pmarlin Posted December 13, 2019 Share Posted December 13, 2019 Samsung Pay now offers international bank transfers. if you have the Samsung pay app you might want to look at it. I looked at it very quickly and notice you have to have Visa or MC debit card in order to use it. More later when i get a chance to check it out. Link to comment Share on other sites More sharing options...
Max69xl Posted December 14, 2019 Share Posted December 14, 2019 I think it's about international transfers from only the US (so far) to 47 countries. Link to comment Share on other sites More sharing options...
tabarin Posted December 14, 2019 Share Posted December 14, 2019 Pff, is every company starting a payment service nowadays? Link to comment Share on other sites More sharing options...
DJ54 Posted December 14, 2019 Share Posted December 14, 2019 Just noticed when checking my Chase account. They’ve added global transfers. Just for grins I checked how much to transfer 1,000 USD... 0 Link to comment Share on other sites More sharing options...
ThaiBunny Posted December 14, 2019 Share Posted December 14, 2019 1 minute ago, DJ54 said: Just noticed when checking my Chase account. They’ve added global transfers. Just for grins I checked how much to transfer 1,000 USD... 0 What was the exchange rate? Link to comment Share on other sites More sharing options...
Paradise Pete Posted December 14, 2019 Share Posted December 14, 2019 2 hours ago, ThaiBunny said: What was the exchange rate? Not exactly comparable, I know, but due to an unexpected and large expense I recently had to use my US credit card, a Visa issued by Chase, for a 125,000 baht transaction. They gave me an exchange rate of 28.95. On the phone I got them to waive the foreign transaction fee (~$125.00) but they said I had to talk to Visa directly about the exchange rate, and made it seem unlikely that they would budge. Chase treats me like royalty, always waiving everything I ask, but Visa doesn't care. update: I just checked the global transfer service and the exchange rate they offered was 29.25. Link to comment Share on other sites More sharing options...
Pib Posted December 14, 2019 Share Posted December 14, 2019 1 hour ago, Paradise Pete said: Not exactly comparable, I know, but due to an unexpected and large expense I recently had to use my US credit card, a Visa issued by Chase, for a 125,000 baht transaction. They gave me an exchange rate of 28.95. On the phone I got them to waive the foreign transaction fee (~$125.00) but they said I had to talk to Visa directly about the exchange rate, and made it seem unlikely that they would budge. Chase treats me like royalty, always waiving everything I ask, but Visa doesn't care. update: I just checked the global transfer service and the exchange rate they offered was 29.25. Visa does set the exchange rate for your card (ditto for Mastercard if having a Mastercard card), but your card may also carry a foreign transaction fee like your Chase credit card. The "card-issuing bank" determines if any foreign transaction fee will be passed/charged to your; not Visa. Based on the amounts you gave above your Chase charges you a 3% foreign transaction fee which effectively reduces the Visa exchange rate by 3%. Don't blame Visa for a crappy exchange rate; blame your card-issuing bank (i.e., Chase) for charging a 3% foreign transaction. Or, if your Chase card does not carry a foreign transaction fee I guess the 3% fee was for a cash advance as most cards typically carry a fee of 3% for a cash advance. Plenty of cards out there that do not charge any foreign transaction fee...it's the only kind I use in Thailand. When you say "global transfer service" who do you mean? That sounds like a generic phrase. Link to comment Share on other sites More sharing options...
fceligoj Posted December 15, 2019 Share Posted December 15, 2019 It'll be interesting to see what issues will develop with the Samsung Pay International transfers. Pertaining to your Chase credit cards, get a black card, NO EXCHANGE RATE FEES and the exchange rate is fairly reasonable. When I use the card to make reservations using either Agoda or Bookings.com, I always use Thai Bahts. (Am an American) I am surprised that you do not use Transferwise, best exchange rate and one of the lowest services fees anywhere. Link to comment Share on other sites More sharing options...
Paradise Pete Posted December 16, 2019 Share Posted December 16, 2019 On 12/14/2019 at 3:03 AM, Pib said: Visa does set the exchange rate for your card (ditto for Mastercard if having a Mastercard card), but your card may also carry a foreign transaction fee like your Chase credit card. The "card-issuing bank" determines if any foreign transaction fee will be passed/charged to your; not Visa. Based on the amounts you gave above your Chase charges you a 3% foreign transaction fee which effectively reduces the Visa exchange rate by 3%. Don't blame Visa for a crappy exchange rate; blame your card-issuing bank (i.e., Chase) for charging a 3% foreign transaction. Or, if your Chase card does not carry a foreign transaction fee I guess the 3% fee was for a cash advance as most cards typically carry a fee of 3% for a cash advance. Plenty of cards out there that do not charge any foreign transaction fee...it's the only kind I use in Thailand. When you say "global transfer service" who do you mean? That sounds like a generic phrase. I got them to waive the foreign transaction fee of $125. In the end, after that, they in effect charged me $4,170 for 125,000 baht, which was actually a pretty fair rate. Not quite as good as I could have gotten myself, but not outrageous, I used to also have a second Chase card that had the perk of nor foreign transaction fees, but the card itself was not free, so I had canceled that card. When I did so Chase consolidated my total credit limit into the one card, and I knew from experience that they were always willing to waive fees for me, making this card worth a lot more to me (higher cash back, totally free). It's less "prestigious", but I don't care at all about that. Link to comment Share on other sites More sharing options...
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