On 8/15/2023 at 12:22 PM, KannikaP said:

I have been led to believe that WISE is not classed as a 'normal' bank. No money actually crosses any financial borders when you do a transfer. GBPs stay in UK, THB are already in Thailand.

I'm pretty sure it's the same with bank transfer....

Edited August 16, 20232 yr by LukKrueng
Typo

6 hours ago, rwill said:

I've transfered over $200,000 US dollars with no problem.  SCB just calls for anything over $20,000 US dollars to ask if it is for personal use or to purchase property.

 

One thing I would say with using Wise is the exchange rate they show you is after fees.  So your actual exchange rate is lower.  Right now it shows an exchange rate of 35.3450 but if I send $10,000 I received 350,736.21.  So the actual exchange rate I get is 35.0736.

No, the rate you received was correct 35.345, only your math is wrong.

6 hours ago, rwill said:

I've transfered over $200,000 US dollars with no problem.  SCB just calls for anything over $20,000 US dollars to ask if it is for personal use or to purchase property.

 

One thing I would say with using Wise is the exchange rate they show you is after fees.  So your actual exchange rate is lower.  Right now it shows an exchange rate of 35.3450 but if I send $10,000 I received 350,736.21.  So the actual exchange rate I get is 35.0736.

No, the rate you received was correct 35.345, only your math is wrong.

On 8/15/2023 at 12:14 PM, 2baht said:

Wise much better

What's there rate? 

 

25.00 using Chase to Bangkok Bank or free if you're a Chase Private Client. 

13 hours ago, rwill said:

I've transfered over $200,000 US dollars with no problem.  SCB just calls for anything over $20,000 US dollars to ask if it is for personal use or to purchase property.

 

One thing I would say with using Wise is the exchange rate they show you is after fees.  So your actual exchange rate is lower.  Right now it shows an exchange rate of 35.3450 but if I send $10,000 I received 350,736.21.  So the actual exchange rate I get is 35.0736.

The exchange rate remains the same, but the amount is after fee deduction, so you don't get the full $10,000. You're getting 9,923.22 x 35.345

8 hours ago, MrJ2U said:

25.00 using Chase to Bangkok Bank or free if you're a Chase Private Client. 

Yes, this is true, if you are not going to use the money transfer for immigration (retirement extension). Because the $25.00 is when you transfer your money in baht. If you are transferring your money for immigration (retirement extension) purposes, then you will have to transfer in US dollars which is a flat $40.00 fee and then the bank code in Thailand will show up as "FTT".