Have you used TransferWise?

[cubism001]

Hello, I need to send some money to another city & they suggest I use TransferWise. Have you used it & is it OK?  Thanks.

[mark5335]

3 minutes ago, cubism001 said:

Hello, I need to send some money to another city & they suggest I use TransferWise. Have you used it & is it OK?  Thanks.

Been using it regularly for the past 3 years, and has always worked well for me. It's regulated by the UK Financial Services Authority, and they recently received a restricted banking license in Australia. So governance should be fine an y ou needn't worry unnecessarily.

[phetphet]

Many of us on here use it to transfer funds into Thailand. E.g. GBP to THB.

 

Transferwise give very good rates for foreign exchange, and sending to another country.

 

Not sure what you mean by "to another city". If you mean another city in the same country with the same currency, then you are probably better just doing an internet bank transfer.

 

If you mean from one country to another. One currency to another, then Transferwise is pretty good.

[J Town]

Been using it to transfer from US credit union to SCB account in Thailand for years. I once had my main Google account hacked which allowed the hacker access to my TransferWise account. The built-in security stopped them cold.

[Pilotman]

Can't really add anything more to what other posters have said.  Transferwise are reliable, quick, easy, cheaper than other ways and you get the best rate that you can get, which is the offshore rate, not the Thai bank rate.  

Edited February 9, 2021 by Pilotman

[cubism001]

5 minutes ago, J Town said:

Been using it to transfer from US credit union to SCB account in Thailand for years. I once had my main Google account hacked which allowed the hacker access to my TransferWise account. The built-in security stopped them cold.

My CU charges $50 plus they get all confused with time zones.  TW says they're much cheaper.  Glad to learn about security!   Many thanks.

[cubism001]

3 minutes ago, Pilotman said:

Can't really add anything more to what other posters have said.  Tranferwise are reliable, quick, easy, cheaper than other ways and you get the best rate that you can get, which is the offshore rate, not the Thai bank rate.  

  Thanks!

[cubism001]

19 minutes ago, mark5335 said:

Been using it regularly for the past 3 years, and has always worked well for me. It's regulated by the UK Financial Services Authority, and they recently received a restricted banking license in Australia. So governance should be fine an y ou needn't worry unnecessarily.

Thank you!

[bunnydrops]

Using since Bangkok Bank stopped transferring from the States. Never a problem. There are some cheaper depending on what country you are sending money from (CurrencyFair), but Transferwise has a much better customer rating

[cubism001]

20 minutes ago, mark5335 said:

Been using it regularly for the past 3 years, and has always worked well for me. It's regulated by the UK Financial Services Authority, and they recently received a restricted banking license in Australia. So governance should be fine an y ou needn't worry unnecessarily.

I'm not very good w/ techno stuff. I'll make a huge effort!  Thank you.

[cubism001]

1 minute ago, bunnydrops said:

Using since Bangkok Bank stopped transferring from the States. Never a problem. There are some cheaper depending on what country you are sending money from (CurrencyFair), but Transferwise has a much better customer rating

Perfect.  Thanks so.

[CharlieH]

MOVED TO BANKING.

 

Many threads on this topic in that section for further browsing.

[J Town]

5 minutes ago, cubism001 said:

My CU charges $50 plus they get all confused with time zones.  TW says they're much cheaper.  Glad to learn about security!   Many thanks.

My credit union doesn't charge anything when TransferWise pulls out the money. I'd switch CU's.

[cubism001]

1 minute ago, J Town said:

My credit union doesn't charge anything when TransferWise pulls out the money. I'd switch CU's.

Sorry, I meant on their own they charge $50 for an intl. transfer.  I don't think they'd charge anything using xoom or transferwise etc.  They even suggested I use a service. The CU did add a real annoying security procedure but I figure all banks will be doing this now. Other than that they're ok

[GrandPapillon]

great app for immediate transfer, but be careful to do a transfer on a Friday, it will not come before Monday

 

they might ask all kind of silly paperwork after a few transfer to make sure you are not a criminal ????

 

but great system I have to admit, I had my doubt in the beginning though ????

[Moonlover]

1 hour ago, cubism001 said:

Hello, I need to send some money to another city & they suggest I use TransferWise. Have you used it & is it OK?  Thanks.

What exactly do you mean by this. From where to where?

[T Lee]

1 hour ago, cubism001 said:

Hello, I need to send some money to another city & they suggest I use TransferWise. Have you used it & is it OK?  Thanks.

I've used transferwise several times in the last couple years.

 

I've found them to be professional, reliable, prompt, and they charge less commission than others.

 

The only superior way I've found is Charles Schwab.  Their deal is, you open up a brokerage account with them.  You deposit whatever funds you want, there is no minimum or penalties or fees of any kind.  When I want some cash, I just go to my Thai bank's ATM and withdraw whatever funds I want using my Charles Schwab debit card.  The bank machine spits out my money and charges me a couple hundred baht....which Schwab remunerates me for as a deposit in my Schwab account.  Done that dozens of times.  Easy and sweet.

[cyril sneer]

TransferWise doesn't let you transfer out of Thailand, just in, has it changed?

[Nout]

11 minutes ago, cyril sneer said:

TransferWise doesn't let you transfer out of Thailand, just in, has it changed?

I never realized national borders came into it. You feed your money onto your card from whatever account you have in whatever currency you you want then change it into whatever currency you want then move it into any account you want.

[Stocky]

As everyone else says, Transferwise are reliable and cost effective. Have been using them to move money between the Singapore, UK and Thailand the last two years without problem.

 

Simple upfront fee and a guaranteed amount you know will arrive at the receiving end, with no sneaky bank charges, or unexplained '3rd party' deductions taken along the way.

[eyup]

I use it all the time and so do all my mates

 

used it 3 times yesterday but 2 of the transfers took a long time 

 

I think that was a temporary blip

 

https://transferwise.com/invite/u/robertk160

 

If you follow the above link and sign up you get a free transfer up to £500

 

If I send a link and 3 people sign up then I get a £75 bonus which I am currently donating to the Bowls green renovation fund here in Kamala  Phuket

 

So, no personal gain for me and you would be helping the bowling community in Kamala out. 

 

Cheers

[eyup]

57 minutes ago, cyril sneer said:

TransferWise doesn't let you transfer out of Thailand, just in, has it changed?

 

No, but apparently, Deemoney do

 

Seem a bit more expensive then transferwise so I would use transferwise for sending money to Thailand and Deemoney if I have to send the other way

 

 

[Pib]

3 hours ago, cyril sneer said:

TransferWise doesn't let you transfer out of Thailand, just in, has it changed?

Correct.  Transferwise is not authorized/licensed to transfer funds out of Thailand. This limitation applies to quite a few other third world type nations also.

[Pib]

3 hours ago, Nout said:

I never realized national borders came into it. You feed your money onto your card from whatever account you have in whatever currency you you want then change it into whatever currency you want then move it into any account you want.

 

You can send baht to Thailand; but you can't send baht out of Thailand using Transferwise.

https://transferwise.com/help/articles/2571907/what-currencies-can-i-send-to-and-from

[Pib]

One easy way to confirm what currencies you can or can not use to fund a transfer is simply trying to insert THB in Transferwise's online calculator "Send To" field (i.e, the currency you are using to fund a transfer)...you will get a notice that it's not possible to send money from THB to whatever other currency.

 

https://transferwise.com/

[Pib]

If using a Thai debit/credit card to fund a transfer such as using dollars to fund transfer of another currency with that bill hitting your Thai debit/credit card account keep in mind that Thai debit/credit cards typically charge  2.5% currency conversion fee (i.e., THB to USD, GBP, EUR, etc)...and then you will also have the Transferwise sending fees which are higher when using a card to fund the transfer.

 

Transferwise webpage on using an international card payment to fund a transfer....like using a Thai debit/credit card to fund a dollar transfer.

https://transferwise.com/help/articles/2556723/how-to-pay-by-card

Edited February 9, 2021 by Pib

[beau thai]

5 hours ago, GrandPapillon said:

great app for immediate transfer, but be careful to do a transfer on a Friday, it will not come before Monday

 

they might ask all kind of silly paperwork after a few transfer to make sure you are not a criminal ????

 

but great system I have to admit, I had my doubt in the beginning though ????

did transferwise  from uk last friday.arrived same day. great rate. low fees.

[GrandPapillon]

3 hours ago, beau thai said:

did transferwise  from uk last friday.arrived same day. great rate. low fees.

strange, when doing transfer using my credit card in EUR on a Friday,  always come 48h later,

 

On a monday, done in less than 20min, sometimes less than 5min

[sammieuk1]

Very good service used last week 16 hrs bank to bank .  just received my platinum debit card for £5 not sure yet of any advantage of it yet or potential uses anyone know? ????