WISE....Beware !

[scubascuba3]

1 hour ago, KannikaP said:

That's OK except for those of us who need the Transaction to show as an International Transfer for Immigration purposes. Does Kasikorn mark an instant transfer as such?

No

[sandyf]

1 hour ago, kalasiner said:

Congratulations on having a 4 day weekend.

I Initiated the transfer on Thursday to receive the next day, Friday...as with more than 100 transfers previously.

I have made payments to Canada regularly for several years and they have always taken 3 days, maybe Thai banks, rather than Wise, are changing their ways. 

[Tom100]

18 minutes ago, G_Money said:

 Been using WISE for years.  ...it says my financial institution makes micro deposits so it will take longer than expected.

Same experience. Now Un-Wise takes up to 7 days to move USD to Baht. 

[Moonlover]

1 hour ago, worgeordie said:

My daughter transferred  3000 quid to me yesterday ,arrived in afternoon ,

 the service was quick ,but was charged 18 .50 Sterling  for the transfer ,I

thought that was a bit much ,is that normal ? thanks

 

regards Worgeordie

 

59 minutes ago, KannikaP said:

A SWIFT from say Nationwide costs GBP20, so if WISE's 0.6% is over that, use SWIFT. But that will take a few days.

However, with Wise you will get the mid-market rate. Whereas with a SWIFT transfer you will get the buy-rate. Plus the receiving bank will make 500 THB charge to receive it.

 

Do the math for yourselves.

[gargamon]

I was doing a sizable transfer a few weeks ago for a medical procedure and was having problems with wise. I tried XE and set up a transfer after connecting to my bank. I didn't pull the trigger there because the wise transfer finally got processed. I got a few emails from XE offering to help me get it done. Eventually I told them to piss off. Here's there response to that one.

 

Since they're now permanently giving me a better rate, i will definitely be giving XE a look next time.

 

[Dmaxdan]

59 minutes ago, KannikaP said:

A SWIFT from say Nationwide costs GBP20, so if WISE's 0.6% is over that, use SWIFT. But that will take a few days.

Wise's fee may cost slightly more but using them you will get a much, much better exchange rate than any receiving Thai bank will offer you with a direct transfer using Swift. I'm afraid, at the end of the day it's no contest.  

[scubascuba3]

1 hour ago, kalasiner said:

I transferred to WISE on Thursday and they acknowledged receipt today, Friday, at 2pm. Instead of immediately transferring to the recipient...as previously...they, disgracefully, chose to sit on the money over the weekend.

If true they probably had system issues, oh well, happens

[billd766]

1 hour ago, scubascuba3 said:

Presumably you use Bangkok Bank which require a human for T+1 2pm settlement, Kasikorn will settle in seconds usually, no human

But to get the transfer cleared with Immigration, I have to contact the KBank call centre to get the paperwork from them. I would have to do that 37 times a year.

 

With Bangkok Bank it shows up automatically in my bankbook and also in the 12 month statements. With KBank it does not.

[KannikaP]

5 minutes ago, billd766 said:

But to get the transfer cleared with Immigration, I have to contact the KBank call centre to get the paperwork from them. I would have to do that 37 times a year.

Why not 'save up' your THB in WISE, and send it ONCE a month.

[scubascuba3]

6 minutes ago, billd766 said:

But to get the transfer cleared with Immigration, I have to contact the KBank call centre to get the paperwork from them. I would have to do that 37 times a year.

 

With Bangkok Bank it shows up automatically in my bankbook and also in the 12 month statements. With KBank it does not.

Yep, settling T+1 2pm is no big deal anyway

[billd766]

22 minutes ago, scubascuba3 said:

No

So why would I use KBank when the interbank transfer from Bangkok Bank is free and is already marked as an international transfer? It generally takes only a couple of minutes, start to finish, to make an interbank transfer.

[kalasiner]

1 hour ago, scubascuba3 said:

If true they probably had system issues, oh well, happens

Do you realise how offensive your "If true" is ?

[G_Money]

1 hour ago, scubascuba3 said:

No

Do you actually use Kasikorn?

It does show something to that effect.

 

I always choose “for long term stay in Thailand “

 

My letter from Kasikorn for monthly deposits must show something as Immigration accepted it from for years.