XE trade - anybody using their services

[AUSSIE BOB]

Hi all,

I am in the application process and was wondering if anybody, particularly aussies living in thailand is or has used them in the past?

I am getting the run around with emails bouncing back and forth and a little like what we have grown to expect at immigration. One more form please sir.

For other readers who can assist, I am after a financial company who conduct international money transfers at a good rate. My money in oz is not with any of the big banks and held in a building society who's transfer rates are terrible.

Any help would be appreciated

I did read about the recent thread but it related to UK and US more so.

[theguyfromanotherforum]

Yes. I use XE trade twice a week.

I transfer funds from my US account to my Canadian account here from Thailand.

The documents they are asking for is nothing unusual. Don't blame them, blame regulators in Europe and USA who are making it increasingly difficult to do anything online. Trust me, other online venues are a lot worse. At the end of the day it's up to you if you want to do business with them.

I have transferred close to one million dollars on the past 10 years with them and there were only 3-4 instances in this period of time where my deposits were late due to technical issues. So, I highly recommend them especially since their customer service seems to be Canadian based.

That being said, XE does not have the best rates, but that's something I do not care about. I don't want some offshore company dealing with my transactions.

[Supaluke]

Yes, I use XE Trade often in the past.

I've found them excellent to deal with.

The account set-up took a bit of mucking around, but worth while in the long run.

PM me if you have specific questions.

Luke

[pgs]

Try Citibank. Free transfers witha AUD10k max each time.

NB: you need to provide the phone number of the incoming account holder.

The FX rates are quite good - they transfer in AUD, the the exchange is done at the destination.

[Pib]

Wonder if anyone could give some actual/specific exchange rates they rec'd on day X using a certain FX exchange service plus any upfront/direct fee they charge.

Like on this date I got a XX.XX exchange rate plus a XX direct fee. Then a person can see how that actually compares to their current method where they experienced actual rates/fees on. Or a person could just look at a past Thai bank TT Buying Rate, maybe a home country bank rate, or Visa/Mastercard exchange rate to compare to that exchange service rate given on day X.

When I see comments like rates were quite good, they don't have the best rates, etc., I wonder what those types of comments really mean. Does it mean says within 1% (or 2 or 3%) of Thai bank TT Buying Rates used for incoming transfers. Some times online exchange services may not show their "customers exchange rate", only show a live FX rate which reflect BIG money exchanges and not what a common-person would get, or you must email the FX exchange service to ask for a quote. Sometimes easily finding out FX exchange service exchange rates given to the common customer can take some effort and emailing...would be nice if some more specific rate/fee info could be given.

Some specific rates plus fees on day X would help a lot/be a very good example. Thanks.

[theguyfromanotherforum]

I can only give you a screenshot of USD to CAD if you are interested.

[Pib]

Thanks...but would be much more interested in an exchange including baht.

[steven100]

Aussie BOB, I am also with a Building society in Auss & when I transfer AUD in bangkok bank they charge $50 which I think is a bit steep.

Normally by TT ( telegraphic transfer / they use Western Union )

I can't believe in this day and age they don't have international transfer facility available on their internet banking.

I send in $AUD only as the rate they give for thai baht from their TELEX trade platform before sending is very bad ... now probably 24.70 there abouts whereby I send in AUD the Bangkok bank buy rate is 25.42

[AUSSIE BOB]

Thanks all for your comments and feedback.

[AUSSIE BOB]

XE has rejected my request stating they do not deal with thailand due to regulation restrictions. I pressed them on providing further information and they changed their story stating I am now living permanently in Thailand and not Australia and they cannot help me. I am now pursuing other means for exchanging funds.

[Cynical Sailor]

I use Ozforex to transfer from my Westpac account every fortnight. Very efficient, reasonable rates and hassle free.

[theguyfromanotherforum]

XE has rejected my request stating they do not deal with thailand due to regulation restrictions. I pressed them on providing further information and they changed their story stating I am now living permanently in Thailand and not Australia and they cannot help me. I am now pursuing other means for exchanging funds.

That sucks

[fritzzz25]

I use Ozforex to transfer from my Westpac account every fortnight. Very efficient, reasonable rates and hassle free.

I use them as well, and have had good service and rates.

[malt25]

I use Ozforex to transfer from my Westpac account every fortnight. Very efficient, reasonable rates and hassle free.

I use them as well, and have had good service and rates.

Same same. Oxforex, great service & rate much better than the bank.

I understand Ozforex can no longer process Westpac transactions.

Just saying.

[Cynical Sailor]

I don't do a Westpac transaction per se. I book the deal with OzForex then pay them directly from my Westpac account. OzForex then transfers the money to my Kasikorn account.

[malt25]

I don't do a Westpac transaction per se. I book the deal with OzForex then pay them directly from my Westpac account. OzForex then transfers the money to my Kasikorn account.

Hi Sailor. How long since you've transferred from your Westpac account via Ozforex ? I'm only going by what I read online... as below. Maybe all is back to normal again ???

"A Westpac spokesman said the bank was ending its relationship with OzForex reluctantly, and the move was influenced by increasingly tough regulatory requirements."

[Cynical Sailor]

I did one on Thursday. I just pay them via BPay.

[AUSSIE BOB]

I am currently working through the FX with a company I found doing a google search. Its called world first and has excellent feedback. The application was much easier and only asked for two forms of ID which was sent. They contacted me via phone and said they would get back to me within a day and they did. I can use email to conduct requests for daily conversion rates and they sound very professional. I will be requesting my first exchange tomorrow after I update them with my bank details. If all goes smoothly, I will update this post.

[rijit]

I had the same refusal with fx . However they do have an excellent 10 currency tracking free app.

Sent from my GT-I9000 using Thaivisa Connect Thailand mobile app

[ripstanley]

I use Ozforex. If you transfer $10,00.00 they do not charge. If you transfer less they charge $15.00 I just checked their rate. For A$10,000 their rate was 25.7810 baht to the A$.

They will soon be changing their name OzForex will soon rebrand to OFX

I have used them for a number of years. This year I noticed that the charges charged in Thailand have increased. I was sending my money to a SCB branch. I approached the SCB after one transfer and discovered that Ozforex sent the money to the Bangkok Bank and then Bangkok Bank transfer to the SCB. The Bangkok Bank charged me 401 Baht to transfer to the SCB. I now transfer to my Bangkok Bank account.