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Using Wise to Transfer Money

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I see many posts about the advantages of using wise.

I checked the cost and it seems very high to me.

Schwabb will charge me 25 USD for a transfer seems like it is much cheaper than Wise..Help what am I missing?

it's great for small amount and speed. If you do a $1000 transfer, banks will charge $25 but Wise only $7 and it takes only a few minutes for the transfer to happen instead of the usual 24/48 hours

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Ah ....Ok small amounts work very good with Wise, but large amounts not so much.

 

Thank you so much

and to add to the deal, your THB rate will be confirmed before the money is sent. Full transparency and disclosure.

Don't compare the sending fee only....that's only half of the cost analysis.  You also need to consider the other half which is the exchange rate. 

 

With Wise you get interbank/wholesale exchange rate which is higher than the Thai bank exchange rate used for incoming SWIFT/ACH transfers and definitely higher than if allowing the western bank to convert to baht on their end.   

 

So, a person needs to price-out a transfer using both the exchange rate and sending fee.

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