Transferwise

[Pib]

33 minutes ago, steven100 said:

I use Citibank to Thai bank, usually takes 2 days but I've also submitted the transfer early in the morning and it's in my Thai bank that afternoon. 

No transfer fees.

No commission.

Citibank from what country?

 

Edit: from looking at some of your other posts I expect the answer is from Australia.  Looking at the Citibank Australia fee schedule they say an international transfer incurs a 25 AUD sending fee.  But maybe you have a special acct/high net worth acct/etc., where the fee is waived for you.

 

Also, keep in mind the Thai bank receiving fee which is typically 0.25% (Bt200 min, Bt500 max) does "not" reflect on your Thai bank passbook/ibanking as the fee is applied/deducted before the transfer is posted to your acct.  This can fool a person into thinking no receiving fee was applied but indeed it was.

 

https://www.citibank.com.au/global_docs/pdf/Feesandcharges.pdf

Edited January 29, 2020 by Pib

[crazygreg44]

has anyone tried SKRILL  instead of Transferwise, and checked on how the Thai Bank receives it, foreign or in-country remittance ?

[steven100]

1 hour ago, Pib said:

Citibank from what country?

 

Edit: from looking at some of your other posts I expect the answer is from Australia.  Looking at the Citibank Australia fee schedule they say an international transfer incurs a 25 AUD sending fee.  But maybe you have a special acct/high net worth acct/etc., where the fee is waived for you.

 

Also, keep in mind the Thai bank receiving fee which is typically 0.25% (Bt200 min, Bt500 max) does "not" reflect on your Thai bank passbook/ibanking as the fee is applied/deducted before the transfer is posted to your acct.  This can fool a person into thinking no receiving fee was applied but indeed it was.

 

https://www.citibank.com.au/global_docs/pdf/Feesandcharges.pdf

not sure where you got that info from, but an ordinary Citibank account, no transfer fee.

maybe you can check out their website .....  should be the latest and correct info.

[Pib]

Where did I get the info?  As mentioned in my post it from the Citibank Australia website and I gave the weblink in my post.  It's the same place you got your snapshots but there is fineprint/details associated with your snapshots which you didn't mention.

 

Regarding your three snapshot above, the last two deal with the Citibank Debit/ATM card use...like using it to withdraw funds and purchase things; the snapshots are not talking funds transfers like a SWIFT transfer.

 

Now your first snapshot does address funds transfers, but when looking up its Note Code 2 it says that's only when transferring funds between Citibanks in different countries....like from Citibank Australia to Citibank Thailand; not just any foreign bank.  The note code also says a receiving fee may still apply like the Thai bank 0.25% (Bt200 min, Bt500 max) receiving fee...even at a Citibank-Thailand.

 

And then on the same page where you got your snapshots there is a link to their schedule of Fees and Charges where they talk transfer fees.  It leads to the same link I gave in my other post.   Please note the fees for "Outward Funds Transfers" which deal with transfers costs to "any" bank...that's a $25 fee like I posted earlier.  And then another category of transfers that is "Citibank Global Transfers" which deals with transfers between Citibanks in different countries where the transfer would be free except maybe the receiving fee; not between Citibank and non-Citibank banks like between Citibank-Australia to  Bangkok Bank, K-bank, SCB, just whatever foreign bank.  That same Citibank Global Transfers also talks commissions.  Yeap, the note codes, fine print, and fee schedule tells the whole story. 

 

https://www1.citibank.com.au/banking/bank-accounts/citibank-plus

[Greenside]

On 1/29/2020 at 12:53 PM, Pib said:

I initiated a TW transfer this morning at 8:26am Thailand time...used my TW U.S. Borderless Acct for funding....sending to my Krungsri Bank acct but I have my TW acct tagged to always use Bangkok Bank as the TW "parnter" bank and I used the "Long Stay...Visa....Thailand" reason for transfers.  The transfer status said the funds would arrive today but can take up to 6 hours.  As of now, 12:48pm Thailand time the funds have not posted to my Krungsri acct.

 

But I bet they will post around 2pm because I think when TW uses Bangkok Bank as the their Thai partner bank to complete the final leg of the transfer to whatever Thai bank like Krungsri, K-bank, SCB, etc., that Bangkok Bank does a once a day batch transfer around 2pm vs finalizing the transfer the second TW notifies Bangkok Bank to complete the transfer. 

 

By the way, what reason for transfer did you use and does your TW PDF Receipt show K-bank as also being the partner bank used?

The reason for transfer was long stay funds (or whatever it says), not that I need it particularly but just as an experiment.  The service channel says: DUMMY BRANCH MCL00004 which probably wouldn't meet the IO rules.

For the person who asked how I got such a quick delivery, I paid by online transfer to TW in the UK while setting up the amount I wanted on the TW website so It was in their account at virtually the same time as I hit the confirm button here.