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It can be done, on-line from anywhere in the world in just a few minutes.

I signed up from Thailand.

Likewise

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Signed up from Thailand and used my Thai address. Have no more home address.

Proof for Thai address can be some kind of hurdle as they accept a limited set of documents.

My proof was a letter from a German bank showing my Thai address.

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I signed up in Thailand, but subsequently amended my residence in their records from Thailand to Australia so I could get the TransferWise Mastercard Debit Card which I found a useful. Currently they don't offer their debit card to Thailand residents.

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2 minutes ago, Dante99 said:

How much money do you think you save using Transferwise compared to a Swift transfer for a transfer amount of USD 3,000?

That depends on the Exchange Rate the bank doing the Swift transfer use. Transferwise gives a comparision of other bank's charges.

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On 1/26/2021 at 11:42 AM, zeekgarcia said:

Do you sign up while you are back in your home country or can you sign up from Thailand?

I signed up from Thailand.  I have two banks in Europe

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18 hours ago, Dante99 said:

I think that comparison by Transferwise overstates the cost of Swift, there are more variables besides the exchange rate.  Swift wire fee, intermediary bank fee if any and receiving bank fee are also variables.

 

I checked the Transferwise delivered Baht amount for a USD 2,000 transfer last week then immediately requested a Swift transfer for that amount from a US financial institution.  The Swift money was received today and was 320 Baht or 0.5% less than the amount Transferwise quoted.

 

That was with a sending institution Swift fee of $10 but there are institutions that charge zero or $5 and others in the 30-45 range.

 

Yes it's not just the exchange rate, it's the fees on both ends also. Of course, the bank fees are proportionally generally less if you send a large amount. I send from Australia to Thailand. I started out by using my Commonwealth Bank - bad exchange rate, low fees on Australia end but 650-700 baht fee on the Thai end. Now I am using OFX with a reasonable exchange rate but only about 120 baht Thai bank fee. I am signed up for Transferwise but I haven't used it yet. They have the best exchange rate I have seen but the fees for sending scale up to the size of the transfer and I wonder about the fees on the Thai side, Anybody know about that?

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1 hour ago, Isaan Alan said:

I am signed up for Transferwise but I haven't used it yet. They have the best exchange rate I have seen but the fees for sending scale up to the size of the transfer and I wonder about the fees on the Thai side, Anybody know about that?

Transferwise website tells you how many Baht you will receive at your Thai bank and that is what you get, no deduction for Thai Bank fees at least with Bangkok Bank.

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5 minutes ago, Dante99 said:

Transferwise website tells you how many Baht you will receive at your Thai bank and that is what you get, no deduction for Thai Bank fees at least with Bangkok Bank.

That is because Transferwise have (thankfully) wangled it so the final transfer is a local one disguised as a foreign one. Thanks TWise!

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