Xendpray transfers now only take 24 hours!

[Dario]

I made twice transfers with Xendpay this month like I do since years. I noticed that both transfers now only took 24 hours as opposed to 48 hours before. Yesterday I transferred money from Germany at exactly 17:30 local Thai time and the money was in at 16:30 today. The account I;'m using is a Bangkok Bank account in Surin. Not bad, taking into account that it is more economical than a Swift transfer. Take note!

[attrayant]

Can you explain why I would want to use such a service?  I looked through their website and they seem to be merely an intermediary bank between my bank in the USA and my bank here in Thailand.  That just ads one more middleman who is going to want a cut of my pie.

[returnee222]

Because your bank in the USA likes all it's international transfer pie, they might offer you free transfers and no commission, but expect shit rates and large spreads. Xendpay looks like transfwise and worldremit a new generation of transfer services rather than an intermediary, upfront rates and same day transfers.  With these services you do a domestic transfer, usually free, over to them in your local country and then they start handle the transfer. Even if you explicitly send in dollars and take the onshore rate, once you take the 0.25% penalty and the $15 or whatever international transfer fee, in most scenarios the next gen services are better priced. 

 

Or put in a nutshell for a certain amount of dollars you get more baht in your thai account than using your ye olde bank

Transferwise is also around 24hrs the deposits happen around 1pm in thai time so presuming you start before close of business local time can be as short as 14hrs.

 

Edited March 25, 2019 by returnee222