Jump to content

Recommended Posts

Posted

If you wire Thai baht to Thailand from outside Thailand, the funds first go to the Bank of Thailand and then to Siam Commercial Bank. They deduct 1000 baht and then reroute the money to the final destination bank who helps themselves to a further 795 baht in Bangkok Bank's case.  This is excluding the wire fee from the originating bank.  If you wire USD to Thailand, it always goes via JPM in NY who takes $50 US to reroute funds to your Thai Bank, who again charge money to receive the funds plus make money converting the USD to THB.  What a racket.

  • Haha 1
Posted
17 minutes ago, koolkarl said:

If you wire Thai baht to Thailand from outside Thailand, the funds first go to the Bank of Thailand and then to Siam Commercial Bank. They deduct 1000 baht and then reroute the money to the final destination bank who helps themselves to a further 795 baht in Bangkok Bank's case.  This is excluding the wire fee from the originating bank.  If you wire USD to Thailand, it always goes via JPM in NY who takes $50 US to reroute funds to your Thai Bank, who again charge money to receive the funds plus make money converting the USD to THB.  What a racket.

I wire monthly and pay no fees like those.

  • Like 1
Posted
10 minutes ago, KannikaP said:

OK, why MANY switched to Wise, very wisely.

Very easy and fast, two or three

chunks a year and minimal fees and effort 

  • Like 1
  • Love It 1
Posted
1 minute ago, novacova said:

Very easy and fast, two or three

chunks a year and minimal fees and effort 

Show me a provider that delivers a better "bottom line" than using Wise (excluding opening account offers) and I'll happily donate 50,000 Baht to a charity of choice to any poster here

They wont find one

I run a check monthly and still no one comes remotely close albeit one or two have been getting "closer"

Bottom line as to what lands in the account is what counts and absolutely nothing else when doing a comparison

  • Love It 1
  • Thumbs Up 1
Posted
3 minutes ago, Chivas said:

Show me a provider that delivers a better "bottom line" than using Wise (excluding opening account offers) and I'll happily donate 50,000 Baht to a charity of choice to any poster here

They wont find one

I run a check monthly and still no one comes remotely close albeit one or two have been getting "closer"

Bottom line as to what lands in the account is what counts and absolutely nothing else when doing a comparison

I only looked at Wise once last year but it was a better deal to instruct my offshore bank to do a USD transfer (they charged USD 45) straight to SCB. Got a fixed amount quote from Wise but got more baht in to the account using transfer. Can't give you the proof so no charity donation needed ???? 

Posted
40 minutes ago, Liverpool Lou said:

Bangkok Bank only helps itself to B100 to process my (GBP to THB) pension proceeds.  Hardly a racket.

Your bank makes money on the conversion of sterling to baht.  Read carefully what I wrote. 

  • Like 1
  • Haha 1
Posted
42 minutes ago, Digitalbanana said:

Isn't that why we all switched to Wise?

 

Except my originating bank only uses wire transfer and nothing else is permitted.

  • Sad 1
Posted
21 minutes ago, novacova said:

Very easy and fast, two or three

chunks a year and minimal fees and effort 

Is what I said about Wise.

 

18 minutes ago, Chivas said:

Show me a provider that delivers a better "bottom line" than using Wise (excluding opening account offers) and I'll happily donate 50,000 Baht to a charity of choice to any poster here

Thank you for the offer, but I have yet to anything easier/faster ratio than Wise. And if there’s one that offers better rates than Wise, then it better be just as easy and fast. I don’t like large chunks of dough swirling around in digital land for too long.

  • Thumbs Up 1
Posted
1 hour ago, koolkarl said:

If you wire USD to Thailand, it always goes via JPM in NY who takes $50 US to reroute funds to your Thai Bank

Not true.

  • Thumbs Up 1
Posted
59 minutes ago, Chivas said:

Show me a provider that delivers a better "bottom line" than using Wise (excluding opening account offers) and I'll happily donate 50,000 Baht to a charity of choice to any poster here

They wont find one

I run a check monthly and still no one comes remotely close albeit one or two have been getting "closer"

Bottom line as to what lands in the account is what counts and absolutely nothing else when doing a comparison

Every month I do a Wise transfer to my Bkk Bank which arrives in 24 hours as an International Transfer so satisfies the Immigration rules. Done it for years, as have many many others. 

  • Like 1
  • Thumbs Up 1
Posted
39 minutes ago, novacova said:

Thank you for the offer, but I have yet to anything easier/faster ratio than Wise. And if there’s one that offers better rates than Wise, then it better be just as easy and fast. I don’t like large chunks of dough swirling around in digital land for too long.

There are cheaper ways at times for certain amounts being sent despite all the claims, but as you say, Wise is easy and fast which is an advantage.  Wise even have a comparison tool on their site which shows when they're not the cheapest.

 

Just now for £500 GBP it's Moneygram and for $1000 and $5,000 USD it's XE.  Euro similar to USD but for even higher values.  Moneygram are allegedly slow but I haven't heard much about XE.

 

image.png.16a804fb73e11ae48d81a75591708658.png

 

 

  • Thumbs Up 1
Posted
1 hour ago, koolkarl said:

Except my originating bank only uses wire transfer and nothing else is permitted.

Then change banks. 

  • Like 1
  • Thumbs Up 1
Guest
This topic is now closed to further replies.
  • Recently Browsing   0 members

    • No registered users viewing this page.



×
×
  • Create New...