Xendpay - Free money transfers to TH - Anyone used it yet?

[Dario]

Hi all,

let's forget about Transferwise, good exchange rates but transfer fees at now at 1.5% what you transfer to Thailand...

I just stumbled on another money transfer company which calls itself:

Xendpay - The world's first free money transfer service!

Well free is great, their exchange rates are equal to Transferwise, but you can decide on what fee you want them to charge you, that fee can be 0.00%.

Check it out at www.xendpay.com

My question is: has anyone ever transferred with them? If yes, how reliable are they on their free transfer promise and on the speed of transfer? They seem to be in business since 2012. So they're not a new kid on the block.

I would just like to add: If you send cash money from your bank abroad to your bank account in Thailand(no credit cards involved) your money is transferred the day Xendpay receives your money in their European account and they say it takes 3 days to receive your money in Thailand. So, if you transfer out on Monday (before 12:00 your banks time) it should arrive Xendpay on Tuesday and they would send it out to your Thai bank the same day. Arrival in your Thai bank account Thursday. You can send as little as 1£, 1$ or 1 Euro. I will do that.

Edited August 23, 2015 by Dario

[elgordo38]

Somewhere along the line they ding you mostly in the exchange rate.

[Dario]

I did find a review of a customer who transferred a large amount of Euros to Thailand which is very good. The review can be found here, you have to go maybe 5 pages far. Anyway the review is very good, I made a screenshot, so you can see it for yourself:

It says in English:

Top Transfer! You can transfer your money with confidence.

I have just transferred 6000 euros to Thailand bank to bank (France > Thailand).

Promise fulfilled! Exchange rate superior to other sites, fee more than reasonable Time: 3 days!

I have called their hotline only once, you can speak English or French, the answers are precise.

I will more than ever recommend this site.

[noni99]

Used it 3 or 4 time that year.

Not the fastest transfer (needed about 4-5 working days), but the best rate I got so far.

I save about 14 Euros which my home-bank would charge me and the Xendpay Exchange-rate is also better.
Now I make a local transfer to a Xendpay-Account and they send it to my Thai-account.

You get the Baht-amount they show you when you start the transfer, maybe less 200 Baht (maximum fee) the Thai-bank charges you

(the last time Bangkok-Bank didn't deduct anything ???).

One time i initiated a transfer to Thailand and sent the Euros to them, but the next day I saw a much better transfer-rate.
I started a second Xendpay-transfer with the same Euro-amount but didn't send the money this time, instead called them to cancel the first transfer and use the money (which was still on the way to them) for the second one with the better rate. The guy from the helpline cancelled the first transfer without any problem and I received more Thai-Baht.

Will use them again and therefore can recommend Xendpay - if you can wait about 1 week (including weekend) for the money to arrive.

[noni99]

Somewhere along the line they ding you mostly in the exchange rate.

You are right for many of this money-transfer providers.

But Xendpay gives you the shown rate from the moment you initiate the transfer, no matter what is happening to the exchage-rate in the following 4-5 days (until the money arrives). This can be good or not so good - depends on the changes in the exchange-rate until arrival. But at least the amount is guaranteed and the exchange-rate (incl. fees from the competitors) is the best I got so far.

[Dario]

I would like to thank you all for your input! Great, it seems Xendpay is reliable and I don't mind 4-5 days for a transfer. At the end of the line, 1) I transfer for free and 2) I get a much better transfer rate than almost anywhere else. Transferwise now charges a 1.5% fee to Thailand and with Xendpay if you opt to pay 0.0% i'tll be just that.

[Expattaff1308]

used it, wouldnt use them again...not as good a rate as Transferwise and their customer service leaves a lot to be desired. lost one payment take an age to sort out and over a month to answer queries as why i didnt get the rate they said they would send. At least with transferwise the rate on exchange is locked in and still cheaper than my bank to send around 1200 GBP monthly.

What it comes down to is what you're happy with.

Edited August 24, 2015 by Expattaff1308

[Expattaff1308]

Well, wonders will never cease, today received an apology from them for the mix up and assured me the problems have been sorted out so I may just give them another go when the freebies at Transferwise is finished.

https://secure.xendpay.com/signup/ur/E368103

[meltingpot2015]

I did find a review of a customer who transferred a large amount of Euros to Thailand which is very good. The review can be found here, you have to go maybe 5 pages far. Anyway the review is very good, I made a screenshot, so you can see it for yourself:

uk.trustpilot review.png

It says in English:

Top Transfer! You can transfer your money with confidence.

I have just transferred 6000 euros to Thailand bank to bank (France > Thailand).

Promise fulfilled! Exchange rate superior to other sites, fee more than reasonable Time: 3 days!

I have called their hotline only once, you can speak English or French, the answers are precise.

I will more than ever recommend this site.

Unfortunately, genuine negative reviews tend to disappear from the Trustpilot site completely, or gets overun by an exodus of "positive" reviews. There is no way of filtering for negative reviews only.

[JAS21]

So would someone please give me an example of their trade and what was the mid market rate (xe.com rate would do) at the time of the deal. Also what did you 'give' them for the deal. I have to admit that I loose about 0.7thb from the mid market rate when I deal through Moneybrokers ... but I don't get any charges except 100thb this end. I send 10KGBP worth of thb each transfer.

And what documents did you have to supply to open your account.

Edited December 4, 2015 by JAS21

[Expattaff1308]

So would someone please give me an example of their trade and what was the mid market rate (xe.com rate would do) at the time of the deal. Also what did you 'give' them for the deal. I have to admit that I loose about 0.7thb from the mid market rate when I deal through Moneybrokers ... but I don't get any charges except 100thb this end. I send 10KGBP worth of thb each transfer.

And what documents did you have to supply to open your account.

I used my passport & pension letter from the British Embassy https://secure.xendpay.com/signup/ur/E368103

[Mark79]

I Used Xendpay for the first time last week.

I sent 3k Euros via Xendpay and 3k Euros direct from my Lloyds offshore account to my Bangkok Bank account so I could compare the two.

With Xendpay I received 114,135 THB and with the direct bank transfer it cleared as 111,463 THB, the direct bank transfer arrived 1 day earlier than Xendpay.

The XE mid market rate was around 38.05 when I did the transfer and Xendpay gave me 38.045 which is the closest I have ever gotten to the mid market rate on a transfer. The whole process with Xendpay took 2 days.

I had read some bad reviews for Xendpay and was a little dubious using them but thought i'd give it a try with a low amount. Some people stated they had been waiting over 2 weeks for their transfer and complained of poor customer service.

All in all I was happy with the service and by far the best rate available.

[slipperylobster]

They convert euros to baht...and then send the baht for free?

I see XE will debit my usd account for free....but after converting to baht (locking in rate/real time) then is one other step where they wire the baht to a baht account (my wife's) in Thailand.

21 usd. 5 to 7 working days.

Dont see where I can use Xendpay (converting usd in usa and sending for free to a thai baht bank acct)....

[Mark79]

They convert euros to baht...and then send the baht for free?

I see XE will debit my usd account for free....but after converting to baht (locking in rate/real time) then is one other step where they wire the baht to a baht account (my wife's) in Thailand.

21 usd. 5 to 7 working days.

Dont see where I can use Xendpay (converting usd in usa and sending for free to a thai baht bank acct)....

Yes, I sent the Euros from my Offshore Bank account to Xendpay Euro account (no fees), they then converted it to THB then forwarded it to my Bangkok Bank in Thailand....there is an option to pay a fee, (states to keep costs low and exchange rates good) but it is up to you how much you pay if anything....they gave a free gift of 10 euros for my first transfer so I opted to use that as the fee.

[JAS21]

They convert euros to baht...and then send the baht for free?

I see XE will debit my usd account for free....but after converting to baht (locking in rate/real time) then is one other step where they wire the baht to a baht account (my wife's) in Thailand.

21 usd. 5 to 7 working days.

Dont see where I can use Xendpay (converting usd in usa and sending for free to a thai baht bank acct)....

Yes, I sent the Euros from my Offshore Bank account to Xendpay Euro account (no fees), they then converted it to THB then forwarded it to my Bangkok Bank in Thailand....there is an option to pay a fee, (states to keep costs low and exchange rates good) but it is up to you how much you pay if anything....they gave a free gift of 10 euros for my first transfer so I opted to use that as the fee.

Giving mid market rate, even on small amounts like 3000Euros and no fee ...sounds wonderful.

I looked at a transfer ...they offered mid market rate shown by xe.com and yes a suggested fee. All inclusive it would have condiderably bettered my usual transfer method. Assuming my Thai bank would just charge the usual 100thb although sometimes BB don't charge me anything ...CIMB always charge me 100thb.

I'll register today.

[tally]

Unfortunately my experience with Xendpay can be best described as nothing short of an absolute disgrace. Due to some urgent family problems here in Thailand I had to convert and transfer some EUR from Italy to Thai Baht.

In the end it took them SEVENTEEN days to transfer the funds into my Thai account. They changed the expected settlement date THREE TIMES. In the last week prior to settlement basically I had to call them every day (at least once) as their information was either incorrect or just not forthcoming.

The only positive thing I can say about them is that they leave you free to pay whatever you want for the transaction, which is why they still have some customers, I guess. So if you don't need your money urgently and don't mind being messed about for 2.5 weeks, then feel free to choose Xendpay's services.

Personally I think I'll give them a wide berth in the future - probably I wouldn't choose them even if the transaction was offered to me free of charge. That just sums up how bad they are.

[JAS21]

tally, on 27 Feb 2016 - 17:32, said:tally, on 27 Feb 2016 - 17:32, said:

Unfortunately my experience with Xendpay can be best described as nothing short of an absolute disgrace. Due to some urgent family problems here in Thailand I had to convert and transfer some EUR from Italy to Thai Baht.

In the end it took them SEVENTEEN days to transfer the funds into my Thai account. They changed the expected settlement date THREE TIMES. In the last week prior to settlement basically I had to call them every day (at least once) as their information was either incorrect or just not forthcoming.

The only positive thing I can say about them is that they leave you free to pay whatever you want for the transaction, which is why they still have some customers, I guess. So if you don't need your money urgently and don't mind being messed about for 2.5 weeks, then feel free to choose Xendpay's services.

Personally I think I'll give them a wide berth in the future - probably I wouldn't choose them even if the transaction was offered to me free of charge. That just sums up how bad they are.

And my experience is still good

Yesterday I did another small deal GBP2000 to thb. This time I got very slightly less than the mid market rate, 0.02thb less ... not worth worrying about too much ...40thb.

Their suggested 'fee' is always 0.6% of the transaction and that is fine by me. When I used Moneycorp (I always did 10K GBP transfers) I lost about 0.7-0.8thb on the mid market exchange rate (and I had to barter for that!)... but no transaction fee. So if I used Xendpay for a GBP10,000 deal I think I would be about 6000thb better off ... assuming mid market rate is 50. I guess that someone will check that.

Now, I'm a little embarrassed to admit, but I made a complete mess of sending the funds. They clearly told me to ensure that I used the correct reference number ... When I dealt with Moneycorp in the past, I had the details set up as a Payee using my Client Number and just pressed the button with the correct amount. So I used the same Xendpay 'Payee' as last time, not realizing quick enough that it had the previous deal reference number and not the new deal reference number. Woops ...

Today I phoned to the France number, and they had it all sorted in about three minutes.... found my money and allocated it to the correct deal.

So no problem from GDP to THB ..... I like the availability of being able to send small amounts ... if I were to send small amounts via Moneycorp I would get an even worse rate and might also attract a fee.

Late Extra ... the Dashboard is showing funds sent to my bank and I have an e-mail to that effect.

Edited March 2, 2016 by JAS21

[JAS21]

JAS21, on 02 Mar 2016 - 19:05, said:

tally, on 27 Feb 2016 - 17:32, said:tally, on 27 Feb 2016 - 17:32, said:tally, on 27 Feb 2016 - 17:32, said:

Unfortunately my experience with Xendpay can be best described as nothing short of an absolute disgrace. Due to some urgent family problems here in Thailand I had to convert and transfer some EUR from Italy to Thai Baht.

In the end it took them SEVENTEEN days to transfer the funds into my Thai account. They changed the expected settlement date THREE TIMES. In the last week prior to settlement basically I had to call them every day (at least once) as their information was either incorrect or just not forthcoming.

The only positive thing I can say about them is that they leave you free to pay whatever you want for the transaction, which is why they still have some customers, I guess. So if you don't need your money urgently and don't mind being messed about for 2.5 weeks, then feel free to choose Xendpay's services.

Personally I think I'll give them a wide berth in the future - probably I wouldn't choose them even if the transaction was offered to me free of charge. That just sums up how bad they are.

And my experience is still good

Yesterday I did another small deal GBP2000 to thb. This time I got very slightly less than the mid market rate, 0.02thb less ... not worth worrying about too much ...40thb.

Their suggested 'fee' is always 0.6% of the transaction and that is fine by me. When I used Moneycorp (I always did 10K GBP transfers) I lost about 0.7-0.8thb on the mid market exchange rate (and I had to barter for that!)... but no transaction fee. So if I used Xendpay for a GBP10,000 deal I think I would be about 6000thb better off ... assuming mid market rate is 50. I guess that someone will check that.

Now, I'm a little embarrassed to admit, but I made a complete mess of sending the funds. They clearly told me to ensure that I used the correct reference number ... When I dealt with Moneycorp in the past, I had the details set up as a Payee using my Client Number and just pressed the button with the correct amount. So I used the same Xendpay 'Payee' as last time, not realizing quick enough that it had the previous deal reference number and not the new deal reference number. Woops ...

Today I phoned to the France number, and they had it all sorted in about three minutes.... found my money and allocated it to the correct deal.

So no problem from GDP to THB ..... I like the availability of being able to send small amounts ... if I were to send small amounts via Moneycorp I would get an even worse rate and might also attract a fee.

Late Extra ... the Dashboard is showing funds sent to my bank and I have an e-mail to that effect.

CIMB phoned and said it's in my bank account now ... I did query as to why it wasn't in my account on Friday. I received an e-mail from Xendpay yesterday saying that the process 'they meant deal' was Closed and yes I can see the money in my account via internet banking.

Okay, not fantastically quick but I made an error which took a day to sort and then there was a weekend ... still happy with them.