Bank Transfer Fees.

[TBKK]

15 hours ago, Pib said:

You can not Send THB....it's one of many currencies Transferwise can not Send....see this webpage for the currencies you can send from and to.  THB is only a "Send To" currency.   

https://transferwise.com/help/11/getting-started/2571907/what-currencies-do-you-support

 

And when I go to the Tranferwise webpage, THB is "not" a currency you can select for the "You Send" field which means you are sending from a Thai baht acct; you can only enter THB in the "Recipient Gets" field when means you are sending to a Thai baht acct in Thailand.   Maybe you clicked "Other" when looking for THB for the You Send field and you ended up at a menu where you can enter THB but that is only to notify Transferwise that you hope they will add THB as currency that can be sent from in the future.

 

Nope, you can not send Thai baht from Thailand....that is, use your Thai bank acct to fund a transfer to say USD, GBP, EUR, etc. 

 

Thanks for clarifying that for me.

Didn't realize that "Other" was a request to add this currency in the future.

 

Guess I will use Dee Money since it is cheaper than using a bank.

[Pib]

In reaching your "cheaper" decision be sure to price out both, repeat both the Sending Fee and Exchange Rate.   A Sending Fee could be a low as free but a bad exchange rate will screw you in the form of an indirect fee.

 

For sending funds out of Thailand Thai banks will use the "TT Selling Rate"....and a lower Selling Rate is better for you as that means you need to fork-out less of your baht to buy each unit of currency you are sending out.  It's the reverse of receiving money to your Thai bank acct where the TT Buying Rate is used and higher is better. 

 

 DeeMoney calls their sending rate the "Send To" on their webpage....not to be confused with their Money Exchange rate where you physically exchange currency at one of their branches.

 

Yeap...be sure to price out both sending fee(s) and exchange rate.