Sending money out of Thailand with Wise

[norbra]

Quote from Western union

 

Edited November 14, 2021 by norbra

[Pib]

15 minutes ago, Eibot said:

Correct,  thanks for explaining.  I have done 6 transfers this week with my Thai debit card, and works like a charm. It instantly hits my account in the UK. 

Also, it doesn't have to be your Thai currency account. Let's say I want to send money to mu Euro account. I'll just add money to my EURO currency wallet with my Thai Debit card. Wise automatically converses the THB to EURO when addiding it using live FX (it does charge for debit cost, and your Thai card might charge for foreign transaction - 1% in my case) and it will add euro's straight away. Then you just sent your euro's to any recipients that use EUro's. This way you only have to converse your money once. Just like you do when sending money to Thailand. 

What Thai card do you have that only charges 1%?  Thai cards typically have a 2.5% foreign transaction fee.

[Eibot]

3 minutes ago, norbra said:

Quote from Wecter union

 

Transfer is costing you 1016 BAHT. Not bad, but I'm not a big fan of WU. 

[Eibot]

Just now, Pib said:

What Thai card do you have that only charges 1%?  Thai cards typically have a 2.5% foreign transaction fee.

Krungsri

[Pib]

3 minutes ago, Eibot said:

Krungsri

The Krungsri Bank website shows a fee of 2.5%.  And when they say it will not exceed 2.5% that's their way of saying 2.5%.

 

https://www.krungsri.com/en/personal/card/krungsri-debit-card/debit

[Eibot]

1 minute ago, Pib said:

The Krungsri Bank website shows a fee of 2.5%.  And when they say it will not exceed 2.5% that's their way of saying 2.5%.

 

https://www.krungsri.com/en/personal/card/krungsri-debit-card/debit

Well, in my case it's 1%, which also doesn't exceed 2.5%.

I'm paying for a game subscription in the Netherlands, and 2.5% is charged there. 

[Pib]

3 minutes ago, Eibot said:

Well, in my case it's 1%, which also doesn't exceed 2.5%.

I'm paying for a game subscription in the Netherlands, and 2.5% is charged there. 

Does the fee say 1% on your Krungsri acct....or are you determining it from personal math? 

[Eibot]

2 minutes ago, Pib said:

Does the fee say 1% on your Krungsri acct....or are you determining it from personal math? 

Haha, a Thai bank showing transparancy in regards to their fees. The latter ????

[Pib]

4 minutes ago, Eibot said:

Haha, a Thai bank showing transparancy in regards to their fees. The latter ????

Do you mind sharing/posting the details of your latest transaction where you funded the transaction with your Krungsri debit card.  Ex: you added X-amount of foreign currency to your Wise acct and a charge of X baht hit your Krungsri acct on X date?

[Pib]

For others considering using their Thai debit card to fund/pay foreign transactions, Thai bank's topically charge a 2.5% foreign transaction fee which they call a currency/forex risk fee.  Here's another example from K-bank since they also post their fees in English.   Now they do say "not more" than 2.5% so maybe for some foreign transaction they would charge less that 2.5%.

 

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

[Eibot]

5 minutes ago, Pib said:

Do you mind sharing/posting the details of your latest transaction where you funded the transaction with your Krungsri debit card.  Ex: you added X-amount of foreign currency to your Wise acct and a charge of X baht hit your Krungsri acct on X date?

Yeah, I do sorry ????

[Eibot]

Just now, Eibot said:

Yeah, I do sorry ????

Atleast not now, since I'm out. Will do it tonight.