soi3eddie Posted May 13 Share Posted May 13 (edited) Just received the email below from Wise. Fees on the rise again. They still offer a good service and likely best option. For now. Fees for sending money on some routes you use are going up. We regularly review our fees to reflect the real cost of moving your money — so you never pay more than you need to. After the latest review, fees for some routes got more expensive and others got cheaper. You can find a full list of updated fees and when they apply here. Our fees calculator will tell you if your route was impacted by this change and how much your next transfer will cost. Here's one example based on your recent transfer: You previously sent 1200 from GBP to THB. It cost 7.26 GBP and will now cost 8.14 GBP*. This is because the fees for sending GBP to THB have gone from 0.68 GBP + 0.55% to 0.97 GBP + 0.60%. You can try our comparison tool to see how we stack up against your other options. We’re upfront about what it costs to use your card abroad or send money internationally. We don’t talk about low fees or "no fees", and hide the real price in inflated exchange rates. We believe in total fee transparency. Find out more here. Check our new fees *Example is based on a similar transaction to one you made over the past 12 months. Thanks, The Wise team Edited May 13 by soi3eddie 1 1 Link to comment Share on other sites More sharing options...
AlexRich Posted May 13 Share Posted May 13 It's not too bad really. I transferred 250 Euro from Cyprus to the UK and the bank swiped 15 Euro. I'm closing the account. 1 1 Link to comment Share on other sites More sharing options...
Popular Post scubascuba3 Posted May 13 Popular Post Share Posted May 13 i guess their costs have gone up due to people working from home i.e. doing laundry, shopping, playing golf 3 5 Link to comment Share on other sites More sharing options...
AreYouGerman Posted May 13 Share Posted May 13 But isn't an issue if you don't pay taxes as a foreigner in Thailand anyway, right. Oh, right, I remember, they changed that, my fault! 🥺 10 3 Link to comment Share on other sites More sharing options...
Robert Paulson Posted May 13 Share Posted May 13 2 hours ago, AlexRich said: It's not too bad really. I transferred 250 Euro from Cyprus to the UK and the bank swiped 15 Euro. I'm closing the account. Sounds bad to me 4 Link to comment Share on other sites More sharing options...
falang07 Posted May 14 Share Posted May 14 I have moved to Revolut, better exchange rates when factoring in the high fees. 1 Link to comment Share on other sites More sharing options...
Popular Post NoDisplayName Posted May 14 Popular Post Share Posted May 14 Fee calculator here: https://wise.com/price-change/borderless-send?source=USD&target=THB&payInMethod=BALANCE&priceChange=global-reprice-may-2024&sourceAmount=1000 Cost to send US$1000 went up $0.65 For US$10,000 add an additional $3.30 1 3 Link to comment Share on other sites More sharing options...
newbee2022 Posted May 14 Share Posted May 14 Well, what you intend to do? Demonstration? Or accept? Or change the "Bank" or just get angry? Tell me🙏 1 3 2 1 Link to comment Share on other sites More sharing options...
treetops Posted May 14 Share Posted May 14 23 minutes ago, falang07 said: I have moved to Revolut, better exchange rates when factoring in the high fees. If converting from GBP then you're correct up until about £1,200. After that Wise beat Revolut on cost. 1 Link to comment Share on other sites More sharing options...
digger70 Posted May 14 Share Posted May 14 25 minutes ago, newbee2022 said: Well, what you intend to do? Demonstration? Or accept? Or change the "Bank" or just get angry? Tell me🙏 If the fees stay cheaper than other international money transfer companies I won't complain too much I only do about 3 or 4 per year. 1 Link to comment Share on other sites More sharing options...
Popular Post newbee2022 Posted May 14 Popular Post Share Posted May 14 51 minutes ago, digger70 said: If the fees stay cheaper than other international money transfer companies I won't complain too much I only do about 3 or 4 per year. They do it fast. So I'll stay. It's cheaper than from bank to bank🙏 3 Link to comment Share on other sites More sharing options...
nickmondo Posted May 14 Share Posted May 14 2 hours ago, treetops said: If converting from GBP then you're correct up until about £1,200. After that Wise beat Revolut on cost. i recently saw a lot of complaints about Revolut customer service if there is a problem. Very poor, so i read 1 Link to comment Share on other sites More sharing options...
n00dle Posted May 14 Share Posted May 14 8 hours ago, Robert Paulson said: Sounds bad to me read again, the 15 on 250 occurred using the bank, not Wise. 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted May 14 Share Posted May 14 11 hours ago, AlexRich said: It's not too bad really. I transferred 250 Euro from Cyprus to the UK and the bank swiped 15 Euro. I'm closing the account. Never a good idea to close a UK bank account unless you're forced to or unless you can easily open another. 2 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted May 14 Share Posted May 14 (edited) 11 hours ago, AlexRich said: It's not too bad really. I transferred 250 Euro from Cyprus to the UK and the bank swiped 15 Euro. I'm closing the account. You expect international SWIFT transfers to be as near as dammit free as opposed to a 5/8ths-of-fck-all €15? Edited May 14 by Liverpool Lou 5 1 Link to comment Share on other sites More sharing options...
Popular Post delgarcon Posted May 14 Popular Post Share Posted May 14 I've used Wise for several years now and their service has always been excellent. Even with a small increase, they are still one of the cheapest around and it would have to be a much more significant increase to force me to look elsewhere. 2 2 2 8 Link to comment Share on other sites More sharing options...
Popular Post Andycoops Posted May 14 Popular Post Share Posted May 14 So what, everything goes up except your dick when you need it too and then sometimes medication can help. In the world of financial electronic transactions Wise beats most other players hands down. 1 1 2 3 Link to comment Share on other sites More sharing options...
Robert Paulson Posted May 14 Share Posted May 14 1 hour ago, n00dle said: read again, the 15 on 250 occurred using the bank, not Wise. I think I’ll pass 2 Link to comment Share on other sites More sharing options...
J Branche Posted May 14 Share Posted May 14 There is the ability to transfer to Wise (exchange rate is up) then transfer in when needed, this may help offset the added fee. What drop down option would you select if you want to gift money to girlfriend or Thai person? Has anyone verified money transferred directly to another Thai persons bank account is the Thai persons Tax responsibility? Link to comment Share on other sites More sharing options...
msbkk Posted May 14 Share Posted May 14 (edited) Wise also gave me on example based on my last transfer in SGD. The new fee would be 2% cheaper. Fees have changed but not in all cases up. Edited May 14 by msbkk 1 1 Link to comment Share on other sites More sharing options...
0ffshore360 Posted May 14 Share Posted May 14 Wise fees recently been reduced about 6% for transfers from my sources. Unannounced . For my typical transfer amounts that I enact that puts them at about 20% of Bank2Bank fees on same day versus 3 day. 1 Link to comment Share on other sites More sharing options...
OldmanJ Posted May 14 Share Posted May 14 According to the translator my Australian transfer is 18 cents per transaction more expensive. 1 Link to comment Share on other sites More sharing options...
AlexRich Posted May 14 Share Posted May 14 10 hours ago, Liverpool Lou said: Never a good idea to close a UK bank account unless you're forced to or unless you can easily open another. It was the Cyprus bank that did the swiping. I just don't want to deal with them anymore. 1 Link to comment Share on other sites More sharing options...
AlexRich Posted May 14 Share Posted May 14 10 hours ago, Liverpool Lou said: You expect international SWIFT transfers to be as near as dammit free as opposed to a 5/8ths-of-fck-all €15? It was a ridiculous amount to take. 1 Link to comment Share on other sites More sharing options...
Popular Post Skeptic7 Posted May 15 Popular Post Share Posted May 15 Cost of doing business. Wise (usually) provides excellent service and is very fairly/reasonably priced. Does not gouge. Better than all the others, that I'm aware. 1 2 2 Link to comment Share on other sites More sharing options...
Robert Paulson Posted May 15 Share Posted May 15 Schwab card if you’re USA based at those amounts. Crypto works too but I suppose not everyone is up for that. There’s no reason to pay these extortionist fees any more imo. You’re just paying them to hold onto your money while they a earn points off it. That’s what’s going on. We know that right? Why do we think it takes so long to make a transfer? The tech isn’t there? No. Because banks want to hold your money for as long as they can so they can earn from it. You’re paying for them to rob you. Best to rid yourself of these systems. 1 Link to comment Share on other sites More sharing options...
jaywalker2 Posted May 15 Share Posted May 15 According to the email I received, the increase on a $1,000 transfer is from $8.84 to $10.98, which is pretty steep. They're recommending transferring from a Wise account, which would lower the cost to $8.81. You still have to transfer to the Wise account though so I'm not sure if it's worth it. Pros and cons? Link to comment Share on other sites More sharing options...
lopburi3 Posted May 15 Share Posted May 15 1 hour ago, jaywalker2 said: According to the email I received, the increase on a $1,000 transfer is from $8.84 to $10.98, which is pretty steep. They're recommending transferring from a Wise account, which would lower the cost to $8.81. You still have to transfer to the Wise account though so I'm not sure if it's worth it. Pros and cons? $1,000 from Wise account at 1009 Thailand time today received 36,283.93 baht in 10 seconds (a $2,000 transfer would have been next day however). Transfer details Amount: 1,000 USD Rate: 1 USD = 36.5375 THB Wise fee: 6.94 USD 1 Link to comment Share on other sites More sharing options...
KannikaP Posted May 15 Share Posted May 15 (edited) 21 hours ago, falang07 said: I have moved to Revolut, better exchange rates when factoring in the high fees. I have both Wise and Revolut, both work seemlessly when spending abroad. Just did a Dubai/Bahrain trip and everything was tappy tappy on my Wise card. Wise is good for transfers if you need it to show as Intenational for Immigration purposes. Edited May 15 by KannikaP Link to comment Share on other sites More sharing options...
Stocky Posted May 15 Share Posted May 15 Not an increase for all currencies. For Singapore Dollars, above SGD2,500 the cost of transfers has actually fallen. Whilst the fixed fee part of their charges has increased, the variable fee has been reduced. So for transfers below SGD2,500 you'll pay a little more, but for larger transfers you'll pay less. Link to comment Share on other sites More sharing options...
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