SWIFT-WISE Breakeven?

[OJAS]

An important thing that IMHO needs to be factored in to any SWIFT/Wise comparison is the cost of any phone call which you may need to make to your home country bank from Thailand in order to set up a SWIFT transfer - where, as in the case of mine, it is impossible to do this online through their website.

 

[jwest10]

  On 6/22/2025 at 11:44 PM, NoDisplayName said:

I've read WISE is better for small amounts, but fees add up.

SWIFT should be better for larger sums.

Is this true?  If so, where is the breakeven?

 

I was thinking of bringing over US$60,000, or approximately 2 million baht.

USD Exchange rate at Bangkok Bank 6/20 was 32.30, the Wise rate was 32.80.

 

Swift fee from a US bank was $35, (assume no additional correspondent bank fees).

Deposit fee at Bangkok Bank is 500 baht.

Would receive 1,936,370 baht after fees.

 

Sending cash to Wise via ACH is free in the US.

Wise fee would be $325, discounted over GBP20,000 equivalent to $291.

A single transfer would receive 1,958,455 baht after fees.

 

Sending in batches of $10,000, Wise fee is $55, receive total 1,957,176.

Sending in batches of $5,000, Wise fee is $28, receive total 1,956,979.

Not taking into account fee discount if transfer >GBP20,000 equivalent in one month.

 

Transferring US$240,000:

Wise transfers 4x $60,000 results in 7,833,820 baht.

One Swift transfer of $240,000 results in 7,750,369 baht.

 

Expand  

wOW!!!

[gamb00ler]

Today is a good day to do a cash advance at Krungsri bank on a US debit card with no foreign transaction fee.

You can get up to 150,000 ฿ each time.  No fee using MasterCard, but 200 ฿ for VISA.

 

VISA rate is 32.44 will remain at that setting until 7AM tomorrow Thai time.

 

WISE rate is 32.24 if sending 30K US$ smaller amounts get a worse rate and higher amounts get slightly better

[JohnnyBD]

  On 6/26/2025 at 5:12 AM, gamb00ler said:

Today is a good day to do a cash advance at Krungsri bank on a US debit card with no foreign transaction fee.

You can get up to 150,000 ฿ each time.  No fee using MasterCard, but 200 ฿ for VISA.

 

VISA rate is 32.44 will remain at that setting until 7AM tomorrow Thai time.

 

WISE rate is 32.24 if sending 30K US$ smaller amounts get a worse rate and higher amounts get slightly better

Expand  

Thnaks for the heads up. Just got money from SCB ATM downstairs. I checked my bank acct, and it was 32.47 using my Chase debit card. The 220B fee is reimbursed by Chase.

[gamb00ler]

  On 6/26/2025 at 6:38 AM, JohnnyBD said:

Thnaks for the heads up. Just got money from SCB ATM downstairs. I checked my bank acct, and it was 32.47 using my Chase debit card. The 220B fee is reimbursed by Chase.

Expand  

That's fast processing.  Schwab and Capital One take several days for the transaction to hit my account.

[JohnnyBD]

  On 6/26/2025 at 6:49 AM, gamb00ler said:

That's fast processing.  Schwab and Capital One take several days for the transaction to hit my account.

Expand  

Chase has always posted immediately. I went for a smoke afterwards, so it was probably 20 min before I got back to my room to check the transaction. The 220B refund will post the next day.

[bamnutsak]

  On 6/25/2025 at 4:49 AM, OJAS said:

An important thing that IMHO needs to be factored in to any SWIFT/Wise comparison is the cost of any phone call which you may need to make to your home country bank from Thailand in order to set up a SWIFT transfer - where, as in the case of mine, it is impossible to do this online through their website.

 

Expand  

 

Google Voice is a free call.

 

  On 6/26/2025 at 6:49 AM, gamb00ler said:

That's fast processing.  Schwab and Capital One take several days for the transaction to hit my account.

Expand  

 

For me, ATM withdrawals are instantaneous. My phone beeps before the cash comes out. The ATM fee reimbursement (Fidelity) takes a day or two.

[NoDisplayName]

  On 6/26/2025 at 7:52 AM, bamnutsak said:

Google Voice is a free call.

Expand  

 

I downloaded VIBER when SKYPE went away.

No problem calling toll-free 800 numbers in the US.

[bamnutsak]

  On 6/26/2025 at 7:55 AM, NoDisplayName said:

 

I downloaded VIBER when SKYPE went away.

No problem calling toll-free 800 numbers in the US.

Expand  

 

Can people call you back if disconnected?

 

My Google Voice number is in my Fidelity record, so approved using myVoice. And yes, I get called back if disconnected. And can call non toll free numbers as well, for free.

[NoDisplayName]

  On 6/26/2025 at 7:59 AM, bamnutsak said:

 

Can people call you back if disconnected?

 

My Google Voice number is in my Fidelity record, so approved using myVoice. And yes, I get called back if disconnected. And can call non toll free numbers as well, for free.

Expand  

 

Dunno.  Have only used it half a dozen times, and no calls dropped.