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The cut seems to be about 3.4% when a large sum is entered into the rate calculator. 

 

Is that correct and competitive?

1 hour ago, John435 said:

The cut seems to be about 3.4% when a large sum is entered into the rate calculator. 

 

Is that correct and competitive?

TransferWise works fine is fast mostly in second inbound out bound as well have nice extra services that make all even go faster. as far as i know also very cheap.

2 hours ago, Autonuaq said:

TransferWise works fine is fast mostly in second inbound out bound as well have nice extra services that make all even go faster. as far as i know also very cheap.

? Transferwise can only send money to Thailand. No transfer outbound.

13 minutes ago, KhunBENQ said:

? Transferwise can only send money to Thailand. No transfer outbound.

Correct at the current time, I'm sure that Wise (as they want be known as now) is working to change the situation, but they are up against a system that doesn't want to see money leaving Thailand easily.

2 hours ago, KhunBENQ said:

Transferwise can only send money to Thailand. No transfer outbound.

 

A poster in another thread has described how it is possible using a (Transfer)Wise multi-currency account, but I'm not sure of fees involved.

On 2/24/2021 at 9:58 PM, foreverlomsak said:

Correct at the current time, I'm sure that Wise (as they want be known as now) is working to change the situation, but they are up against a system that doesn't want to see money leaving Thailand easily.

 

Where you say "Correct at the time...", are you implying Wise will soon have capability to transfer funds out of Thailand?   They haven't been able to since coming into existence and Thailand is just one of "many" countries Wise can not transfer funds out of.   See below Wise weblink under the "You can only send money to these currencies (via local transfer)" as to what currencies Wise can not send from....THB is one of them.

https://transferwise.com/help/articles/2571907?origin=search-countries

 

As far as I know to  send baht out of Thailand you must use a Thai bank, DeeMoney, or Western Union....I have used all three to do such.

 

 

On 2/25/2021 at 12:18 AM, treetops said:

 

A poster in another thread has described how it is possible using a (Transfer)Wise multi-currency account, but I'm not sure of fees involved.

He may have bought some THB to add to his multicurrency acct....that is, converted some USD, GBP, EUR, etc., to THB.  That's completely different from using THB from a Thai bank acct to fund a Wise transfer.

13 minutes ago, Pib said:

 

Where you say "Correct at the time...", are you implying Wise will soon have capability to transfer funds out of Thailand?   They haven't been able to since coming into existence and Thailand is just one of "many" countries Wise can not transfer funds out of.   See below Wise weblink under the "You can only send money to these currencies (via local transfer)" as to what currencies Wise can not send from....THB is one of them.

https://transferwise.com/help/articles/2571907?origin=search-countries

 

As far as I know to  send baht out of Thailand you must use a Thai bank, DeeMoney, or Western Union....I have used all three to do such.

 

 

No direct knowledge, but I'm sure they are looking into it, like the expanding list of countries that you can now have actual bank account details through Wise. When I first used Wise about a year ago I think there was only 3 or 4 now there are 10.

23 minutes ago, Pib said:

He may have bought some THB to add to his multicurrency acct....that is, converted some USD, GBP, EUR, etc., to THB.  That's completely different from using THB from a Thai bank acct to fund a Wise transfer.

 

Agreed, you cannot fund a transfer with Thai baht.  What appears to have been done is purportedly made a purchase from a third party where payment was made from a Thai bank account to a Wise multicurrency account.  Wise appears to support this.

 

As the third party account is also under the senders control (girlfriend's name), he makes the switch to GBP, USD, AUD or whatever within the account and voila, he has moved baht from his Thai bank account to the currency of his choice.

 

I'd be keen to read some corroborating reports, but it seem feasible to me.  I'm unsure of charges too which may put the dampeners on it if excessive.

On 2/24/2021 at 3:41 PM, KhunBENQ said:

? Transferwise can only send money to Thailand. No transfer outbound.

Not sure why you say this. Because you can do with transferwise. 

6 hours ago, Autonuaq said:

Not sure why you say this. Because you can do with transferwise. 

From your Thai bank account, and using transferwise, which countries (and currencies) have you been able to send money to?