Need creative suggestion for Wise transfer.

[DrJack54]

Hey Guys,

Hopefully some one can suggest simple solution.

So the situation: Need hip joint replacement and cannot go to bank. 

I have used Wise to transfer largish amounts previously to my Kasikorn account. 

It does not have an ATM card.

I also have a savings account with Krungthai bank however Wise can only transfer 50k max per transfer.

I need 400k.

My partner of 10 years (not married) is not listed on my accounts 

She has an account with Bangkok Bank which is a bank that can transfer 400k baht easily.

I don't really follow what Wise will require.

Obviously name of account and account #. 

In Oz we have what's referred to as BSB #. 

Think her bank account has office#. 

Perhaps there is a simple option I'm missing.

I once paid a big bill using my Oz debit card. Never again.

 

[Excel]

That's not the case. The 50 k limit does not apply to BBK. Kasikorn or SCB. Those 3 banks then you are subject to a maximum single transfer of 2 million baht. But that amount is more expensive than using SWIFT. So simply use SWIFT, or WISE if you prefer as it is quicker, to your partners BBK bank and make sure you tick the correct option as the reason for the transfer.

 

https://wise.com/help/articles/2932335/guide-to-thb-transfers

[Stocky]

30 minutes ago, Excel said:

But that amount is more expensive than using SWIFT.

Incorrect, it depends on currency pair. USD yes SWIFT is better above 10k. But most other currencies the exchange rate margin means Wise wins.

 

Transfer 

37 minutes ago, DrJack54 said:

I don't really follow what Wise will require.

Just the name of the account holder, the name of the bank, and the account number.

[Old Croc]

I'm having trouble understanding the problem. You say you have transferred large amounts with Wise before. Do so again.

How do you currently access these funds from your K Bank? I use internet banking to send money to my wife's account as needed. She gives me cash as I require, but she does the shopping and pays the bills. I have an ATM card, but rarely use it (only Lazada). My nearest bank branch is 100km away so I only visit once a year.

If you can only make withdrawals in person from your bank and can no longer travel there, get Wise to send direct to your GF's account.

Or, you could pay the hospital direct with a transfer from your account.

 

I used Wise last week to transfer $10k. It arrived in minutes and wifey is already spending it.   

 

Both my replacement hips are still working well, you will appreciate the pain relief.

 

I don't send more than $10k at a time.

Perth businessman hands over $4m after being unable to tell police where his wealth came from (watoday.com.au)

 

 

Edited June 3, 2022 by Old Croc

[Excel]

1 hour ago, Stocky said:

Incorrect, it depends on currency pair. USD yes SWIFT is better above 10k. But most other currencies the exchange rate margin means Wise wins.

 

Transfer 

Just the name of the account holder, the name of the bank, and the account number.

Wish you bothered to read the op and my post before stating  I was incorrect. The OP is mentioning Aus dollars. I said for large amounts its cheaper to use SWIFT. That is a true statement. We are not talking "other" currencies that you mentioned nor US $, get it ?

https://www.thecurrencyshop.com.au/reviews/transferwise

[DrJack54]

1 hour ago, Old Croc said:

If you can only make withdrawals in person from your bank and can no longer travel there, get Wise to send direct to your GF's account.

Or, you could pay the hospital direct with a transfer from your account.

Indeed thankyou.

Think I hit panic mode.

I just now transferred the 400k baht in to partners Bangkok Bank account using WISE.

Yes very simple process.

I just had to add new recipient.

Bit of fuss about nothing.

My concern was that my Kasikorn account has no ATM card and transferring to my account would not work as I can't physically get to bank. All good now.

Thanks for advice. 

 

Mod can you close this thread. 

Edited June 3, 2022 by DrJack54

[Stocky]

22 minutes ago, Excel said:

That is a true statement.

I'd beg to differ.
A transfer say from Commonwealth Bank to Bangkok Bank with SWIFT for AUD50k. The Commonwealth Bank charges you AUD22 for the SWIFT transfer as you are sending as AUD rather than taking their exchange rate. At today's BB TT rate of AUD1 = THB 24.185 you would receive THB 1,208,718 less the Bht500 charge by Bangkok Bank. Using WISE you would pay a fee of 0.56% of the sum transferred, AUD280, but get an exchange rate of AUD1 = THB 24.8437, provided you transfer bank to bank to the WISE account and not use debit or credit card there's no additional fee, you receive THB 1,235,229. That's THB 27,011 more using WISE.

[scubascuba3]

17 minutes ago, DrJack54 said:

Indeed thankyou.

Think I hit panic mode.

I just now transferred the 400k baht in to partners Bangkok Bank account using WISE.

Yes very simple process.

I just had to add new recipient.

Bit of fuss about nothing.

My concern was that my Kasikorn account has no ATM card and transferring to my account would not work as I can't physically get to bank. All good now.

Thanks for advice. 

 

Mod can you close this thread. 

Good you sorted it, i would have thought an easy solution was do a Wise transfer to your thai account then transfer to hospital

[DrJack54]

1 minute ago, scubascuba3 said:

Good you sorted it, i would have thought an easy solution was do a Wise transfer to your thai account then transfer to hospital

My Kasikorn account doesn't have any online access and I can't physically get to bank. 

In any event for anyone interested in Wise to compare to other option here is my transfer details to gf just now

[scubascuba3]

18 minutes ago, DrJack54 said:

My Kasikorn account doesn't have any online access and I can't physically get to bank. 

In any event for anyone interested in Wise to compare to other option here is my transfer details to gf just now

ok make sure you get the app or online set up after, gives you more options

[Excel]

3 hours ago, Stocky said:

I'd beg to differ.
A transfer say from Commonwealth Bank to Bangkok Bank with SWIFT for AUD50k. The Commonwealth Bank charges you AUD22 for the SWIFT transfer as you are sending as AUD rather than taking their exchange rate. At today's BB TT rate of AUD1 = THB 24.185 you would receive THB 1,208,718 less the Bht500 charge by Bangkok Bank. Using WISE you would pay a fee of 0.56% of the sum transferred, AUD280, but get an exchange rate of AUD1 = THB 24.8437, provided you transfer bank to bank to the WISE account and not use debit or credit card there's no additional fee, you receive THB 1,235,229. That's THB 27,011 more using WISE.

Well you don't send AUS $ if you are sensible, you convert to THB then send it so hence your calcs are absolute pointless and misleading. So as I said WISE is not the best for large amounts. as that article clearly stated 

Edited June 3, 2022 by Excel

[Stocky]

7 minutes ago, Excel said:

Well you don't send AUS $ if you are sensible, you convert to THB then send it so hence your calcs are absolute pointless and misleading. So as I said WISE is not the best for large amounts. as that article clearly stated 

That's even worse!
Sure the bank charge drops from $22 to $6 but the exchange rate is pitiful. Today's rate AUD 1 = THB 23.71. So sending AUD50k as THB will give you THB 1,185,357 - compared with WISE THB 1,235,229 a difference of THB 49,872.

[Excel]

14 minutes ago, Stocky said:

That's even worse!
Sure the bank charge drops from $22 to $6 but the exchange rate is pitiful. Today's rate AUD 1 = THB 23.71. So sending AUD50k as THB will give you THB 1,185,357 - compared with WISE THB 1,235,229 a difference of THB 49,872.

Total rubbish. XE.com is just this now stating 24.8366 which will give you 1,241,830 so clearly you are dreaming these figures up  so in actual fact you gain 6.601 THB + the $16 you save in the bank charge. Think you are away with the fairies my good man, what are you smoking ? And whilst they quote mid-market rates you will get that when sending large amounts which were the figures I was initially stating. Your arguments may well have a basis for small amounts but that is not what I was discussing.

 

1 AUD to THB - Australian Dollars to Thai Baht Exchange Rate (xe.com)

Edited June 3, 2022 by Excel

[Stocky]

11 minutes ago, Excel said:

Total rubbish. XE.com is just this now stating 24.8366 which will give you 1,241,830 so clearly you are dreaming these figures up  so in actual fact you gain 6.601 THB + the $16 you save in the bank charge. Think you are away with the fairies my good man, what are you smoking ?

 

1 AUD to THB - Australian Dollars to Thai Baht Exchange Rate (xe.com)

But the banks don't give you the XE.com rate, go look at Australian bank websites if you don't believe those figures, or the Bangkok Bank website if sending as AUD. And you think I'm away with the fairies. 

 

https://www.commbank.com.au/international/foreign-exchange-rates.html

https://www.anz.com.au/personal/travel-international/currency-converter/

 

https://www.bangkokbank.com/en/Personal/Other-Services/View-Rates/Foreign-Exchange-Rates

 

Edited June 3, 2022 by Stocky

[scubascuba3]

32 minutes ago, Excel said:

Well you don't send AUS $ if you are sensible, you convert to THB then send it so hence your calcs are absolute pointless and misleading. So as I said WISE is not the best for large amounts. as that article clearly stated 

FYI most people know it's best to send A$, U$,£, Euro

[Excel]

2 minutes ago, Stocky said:

But the banks don't give you the XE.com rate, go look at Australian bank websites if you don't believe those figures, or the Bangkok Bank website if sending as AUD. And you think I'm away with the fairies. 

 

https://www.commbank.com.au/international/foreign-exchange-rates.html

https://www.anz.com.au/personal/travel-international/currency-converter/

 

 

Go back to the bottom of my last post. And by the way happy smoking and I shan't be joining you further in your wonderland  conversations in this thread.

[theoldgit]

11 hours ago, DrJack54 said:

Mod can you close this thread. 

As requested 

 

Get well soon