Can a Thail card be used with Transferwise for sending money?

[gafdtomaka366]

The last time I tried to send money from Transferwise, with zero balance, to elsewhere using my Kasikorn card as a payment method, it didn't come through. Has anyone had luck with that?

[Pib]

Transferwise is not authorized to transfer funds out of Thailand.  Using a Thai debit card to fund a transfer would be trying to do something that Transferwise is not authorized to do....that is, transferring baht out of Thailand by using baht to fund a transfer.

[gafdtomaka366]

But what's the difference between that and using my card abroad in  shops, or paying in the internet in dollars? In the later case I also transfer funds out of Thailand.

[HighPriority]

7 minutes ago, gafdtomaka366 said:

But what's the difference between that and using my card abroad in  shops, or paying in the internet in dollars? In the later case I also transfer funds out of Thailand.

I don’t think Pib writes the rules...

[connda]

16 minutes ago, gafdtomaka366 said:

But what's the difference between that and using my card abroad in  shops, or paying in the internet in dollars? In the later case I also transfer funds out of Thailand.

Look into Dee Money.

[Upnotover]

Suggestion.  Ask Transferwise.  I have had the need to contact them once or twice and always had replies promptly.

[Pib]

30 minutes ago, gafdtomaka366 said:

But what's the difference between that and using my card abroad in  shops, or paying in the internet in dollars? In the later case I also transfer funds out of Thailand.

Different funds systems, rules, and licensing.  

[Pib]

 

You can send baht to Thailand; but you can't send baht out of Thailand using Transferwise.   See below Transferwise webpage for currencies TW can send to or from....and those currencies they can only send to.   Thai baht is one of the many currencies TW can only send to; not from.

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

[gafdtomaka366]

4 minutes ago, Pib said:

You can send baht to Thailand; but you can't send baht out of Thailand using Transferwise.   See below Transferwise webpage for currencies TW can send to or from....and those currencies they can only send to.   Thai baht is one of the many currencies TW can only send to; not from.

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

That's irrelevant because that's about a different thing -- sending currencies to and from one's THB account. 

I don't send THB from my THB account - I may want to send dollars and on the last step as a payment option I'd choose my Thai bank card as a payment method.

[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]

16 minutes ago, gafdtomaka366 said:

That's irrelevant because that's about a different thing -- sending currencies to and from one's THB account. 

I don't send THB from my THB account - I may want to send dollars and on the last step as a payment option I'd choose my Thai bank card as a payment method.

If that works that's going to be an expensive way to fund a transfer because Thai debit/credit cards charge  2.5% currency conversion fee (i.e., THB to dollars)...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

[foreverlomsak]

Apologies to Pib he didn't write the post I responded to, he responded to it and I got the wrong attribution when I replied.

To send dollars the equivalent THB amount needs to be removed from your account and then used to buy USD, that is effectively moving THB out of the country without bank controls. That is a no-no.

If you go to the bank they should be able to do it for you though. 

[Pib]

@foreverlomsak

 

You show me (Pib) making the quote in your above post but it wasn't me...it was gafdtomaka366 saying those words.   Your quote isn't referenced correctly.

 

 

[foreverlomsak]

1 hour ago, gafdtomaka366 said:

But what's the difference between that and using my card abroad in  shops, or paying in the internet in dollars? In the later case I also transfer funds out of Thailand.

Using your Thai card in shops abroad or on the internet involves licensed banks who are recognized by the Thai banking system, TransferWise is not authorized to operate as a bank in Thailand (yet).

[foreverlomsak]

2 minutes ago, Pib said:

@foreverlomsak

 

You show me (Pib) making the quote in your above post but it wasn't me...it was gafdtomaka366 saying those words.   Your quote isn't referenced correctly.

 

 

apologies slip of the fingers didn't go back far enough, will amend post to record same OK?

[gafdtomaka366]

4 hours ago, Pib said:

If that works that's going to be an expensive way to fund a transfer because Thai debit/credit cards charge  2.5% currency conversion fee (i.e., THB to dollars)...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

 

I'm not asking whether or not a possiblity to pay by card exists. I've asked about one's succesful experience.

[gafdtomaka366]

16 hours ago, Pib said:

Thai debit/credit cards charge  2.5% currency conversion fee (i.e., THB to dollars)

 

Is it the case when money is withdrawn from an ATM abroad too, from a Thai card?

[Pib]

53 minutes ago, gafdtomaka366 said:

 

Is it the case when money is withdrawn from an ATM abroad too, from a Thai card?

Yes...that's when the Bt100 and 2.5% foreign transaction fee (a.k.a., forex risk charge, cross borders fee, etc.,) is applied.  For example,  below snapshot from the K-bank fee schedule for its debit cards....it's typical for Thai bank cards.

 

https://kasikornbank.com/en/rate/fee/ChargesDoc/ServicingFees_en.pdf

 

 

[gafdtomaka366]

Therefore, there's  no difference, except the -100 thb, fees-wise and exchange rates whether I withdraw money from an ATM and pay, or pay by card directly in a shop?

[Pib]

1 hour ago, gafdtomaka366 said:

Therefore, there's  no difference, except the -100 thb, fees-wise and exchange rates whether I withdraw money from an ATM and pay, or pay by card directly in a shop?

Use cash gotten from an ATM using a Thai debit card to pay for an item you would get the card-network (i.e, Visa/Mastercard/UnionPay/etc) exchange rate, incur a Bt100 fee plus 2.5% foreign transaction fee charged by the card-issuing bank.....and any ATM Use Fee that the ATM might charge.  

 

Use the card to pay for the purchase you would get the card network exchange rate (assuming the shop does not attempt a DCC transaction)...a 2.5% foreign transaction fee would be applied by the card-issuing bank.  No Bt100 additional fee like when getting cash from an ATM.

 

Therefore for a purchase it would be cheaper to use the card to pay directly at the shop versus using the card to get cash from an ATM and then paying with cash.