cubism001 Posted February 9, 2021 Share Posted February 9, 2021 Hello, I need to send some money to another city & they suggest I use TransferWise. Have you used it & is it OK? Thanks. Link to comment Share on other sites More sharing options...
Popular Post mark5335 Posted February 9, 2021 Popular Post Share Posted February 9, 2021 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. 5 1 Link to comment Share on other sites More sharing options...
Popular Post phetphet Posted February 9, 2021 Popular Post Share Posted February 9, 2021 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. 3 1 Link to comment Share on other sites More sharing options...
Popular Post J Town Posted February 9, 2021 Popular Post Share Posted February 9, 2021 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. 1 2 Link to comment Share on other sites More sharing options...
Popular Post Pilotman Posted February 9, 2021 Popular Post Share Posted February 9, 2021 (edited) 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 3 2 Link to comment Share on other sites More sharing options...
cubism001 Posted February 9, 2021 Author Share Posted February 9, 2021 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. 1 Link to comment Share on other sites More sharing options...
cubism001 Posted February 9, 2021 Author Share Posted February 9, 2021 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! Link to comment Share on other sites More sharing options...
cubism001 Posted February 9, 2021 Author Share Posted February 9, 2021 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! Link to comment Share on other sites More sharing options...
bunnydrops Posted February 9, 2021 Share Posted February 9, 2021 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 2 Link to comment Share on other sites More sharing options...
cubism001 Posted February 9, 2021 Author Share Posted February 9, 2021 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. Link to comment Share on other sites More sharing options...
cubism001 Posted February 9, 2021 Author Share Posted February 9, 2021 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. Link to comment Share on other sites More sharing options...
CharlieH Posted February 9, 2021 Share Posted February 9, 2021 MOVED TO BANKING. Many threads on this topic in that section for further browsing. 1 Link to comment Share on other sites More sharing options...
J Town Posted February 9, 2021 Share Posted February 9, 2021 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. Link to comment Share on other sites More sharing options...
cubism001 Posted February 9, 2021 Author Share Posted February 9, 2021 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 Link to comment Share on other sites More sharing options...
GrandPapillon Posted February 9, 2021 Share Posted February 9, 2021 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 ???? Link to comment Share on other sites More sharing options...
Moonlover Posted February 9, 2021 Share Posted February 9, 2021 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? Link to comment Share on other sites More sharing options...
T Lee Posted February 9, 2021 Share Posted February 9, 2021 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. Link to comment Share on other sites More sharing options...
cyril sneer Posted February 9, 2021 Share Posted February 9, 2021 TransferWise doesn't let you transfer out of Thailand, just in, has it changed? Link to comment Share on other sites More sharing options...
Nout Posted February 9, 2021 Share Posted February 9, 2021 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. 1 1 Link to comment Share on other sites More sharing options...
Stocky Posted February 9, 2021 Share Posted February 9, 2021 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. Link to comment Share on other sites More sharing options...
eyup Posted February 9, 2021 Share Posted February 9, 2021 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 Link to comment Share on other sites More sharing options...
eyup Posted February 9, 2021 Share Posted February 9, 2021 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 1 Link to comment Share on other sites More sharing options...
Pib Posted February 9, 2021 Share Posted February 9, 2021 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. Link to comment Share on other sites More sharing options...
Pib Posted February 9, 2021 Share Posted February 9, 2021 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 Link to comment Share on other sites More sharing options...
Pib Posted February 9, 2021 Share Posted February 9, 2021 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/ Link to comment Share on other sites More sharing options...
Pib Posted February 9, 2021 Share Posted February 9, 2021 (edited) 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 Link to comment Share on other sites More sharing options...
beau thai Posted February 9, 2021 Share Posted February 9, 2021 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. 1 Link to comment Share on other sites More sharing options...
GrandPapillon Posted February 9, 2021 Share Posted February 9, 2021 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 Link to comment Share on other sites More sharing options...
sammieuk1 Posted February 9, 2021 Share Posted February 9, 2021 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? ???? Link to comment Share on other sites More sharing options...
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