ZING. HSBC launch potential alternative to Wise for Brits.

[treetops]

New player for anyone looking for an alternative or just as backup.  Only seen one report so far that it was more expensive then Wise but it's early days.  App available for Apple and Android phones but doesn't appear to have web access for transfers.  I can't sign up fully as I'm not in the UK and it couldn't verify my address using means other than my phones location.  Will try again when I get back next.

 

https://www.altfi.com/article/exclusive-hsbc-s-new-fintech-app-zing-built-on-monese-s-platform

 

[treetops]

Looks like THB will require a SWIFT payment.

 

[KannikaP]

WISE works for many of us.........why change?

 

And you can SWIFT THB from any UK or other bank to any other.

The beauty of WISE is that, if you need it to, it arrives as a Foreign Transfer.

Edited January 9 by KannikaP

[treetops]

2 minutes ago, KannikaP said:

WISE works for many of us.........why change?

I'm not telling anyone to change, just raising awareness of another option.

 

It could just be kept as a backup for when Wise doesn't work, and a new player often has some special offers.

 

I frequently used Xendpay as an alternative before their demise as they kept offering fee free transfers to entice me back, which made them a better deal.

[CharlieKo]

1 hour ago, treetops said:

It could just be kept as a backup for when Wise doesn't work

When has wise not worked? Still the cheapest option around!

[BritManToo]

2 hours ago, treetops said:

could just be kept as a backup for when Wise doesn't work, and a new player often has some special offers.

If HSBC notices you live outside the UK, they will close your account.

[foreverlomsak]

9 minutes ago, BritManToo said:

If HSBC notices you live outside the UK, they will close your account.

Fat lot of use to Expats then, we will send money out of UK provided you live in the UK, no better than a High Street bank who are de-banking people for many different reasons.

[nobodysfriend]

From all the banks I had to deal with . HSBC clearly was the worst . They are not trustworthy .

[JBChiangRai]

13 hours ago, BritManToo said:

If HSBC notices you live outside the UK, they will close your account.

 

HSBC are well aware I live outside the UK, they send correspondence here.  They have not attempted to close my account.

[Denim]

13 hours ago, BritManToo said:

If HSBC notices you live outside the UK, they will close your account.

I've told them I live outside the UK but they haven't closed mine yet. Go figure ?

 

 

[sandyf]

15 hours ago, BritManToo said:

If HSBC notices you live outside the UK, they will close your account.

No they won't.

[sandyf]

2 hours ago, nobodysfriend said:

From all the banks I had to deal with . HSBC clearly was the worst . They are not trustworthy .

Different experiences = different opinions, I have had very good service.

[treetops]

 

On 1/9/2024 at 10:09 AM, CharlieKo said:

When has wise not worked? Still the cheapest option around!

 

There are numerous threads on here crying "where's my money" or "Wise taking forever" or words to that effect.  I've never experienced any serious issues but others seem to.

 

As regarding them being the cheapest, it all depends on how much you send and in what currency.  Currently the comparison tool on Wise' website shows them behind Revolut and Western Union for a transfer of £1,000 GBP to Thailand.  Other services may have disadvantages even if you are getting more baht in your pocket, so I'd be wary of changing without looking at the big picture.

 

 

Edited January 10 by treetops

[scubascuba3]

If Zing is using swift then it will be processed as international and the thai bank will charge a few hundred baht so need to factor that in

[aublumberg]