Transferwise

[JimGant]

Quote

However, by sending your local currency to Thailand you cannot guarantee the exchange rate as it is applied when the Thai bank receives the funds.

Actually, TransferWise does guarantee that mid-market (interbank) exchange rate they quote you before you pull the trigger. Only if you pull the trigger, and the funds don't reach their bank in your home country within something like 24 hours, will they revert to the latest interbank rate. My gripe is that, when I asked what their fees were, their "1%, plus $2" didn't line up with the quotes I got -- which were slightly less. Anyway, with the fixed percentage fee, they're still more expensive for Yanks using Bangkok Bank New York, and sending several thousands of dollars. Maybe when they go to a fixed stutter stair fixed rate will they then be competitive.

[Pib]

Yea, Transferewise's 1% fixed percentage fee on USD to baht transfers generally/usually makes the ACH transfer method to a Bangkok Bank account a better deal for yanks...more baht in your account after all the exchange rate and direct/indirect fees are calculated in.

Now if Transferwise ever lowers their USD flat fee to say down around 0.5 to 0.7% like many other currencies then I just may start using them also.

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