Transferwise

[Expattaff1308]

It seems Transferwise has reduced their fees and the exchange rate has become more favourable...worth checking them out. 

 

https://transferwise.com

 

[edwinchester]

Used them 3 times over the last couple of months and very happy with their service.

[tutsiwarrior]

I have USD, EUR and GBP accounts in the UK at the same bank and the bank exchange rate is criminal...is it possible to transfer currency between accounts at the same bank with Transferwise?

[Expattaff1308]

14 hours ago, tutsiwarrior said:

I have USD, EUR and GBP accounts in the UK at the same bank and the bank exchange rate is criminal...is it possible to transfer currency between accounts at the same bank with Transferwise?

I only transfer between my UK GBP account to Thailand (pension Transfer) I can only suggest go take a look, they have a helpline where you can ask anything you need to if they can help Im sure they will let you know but certainly worth a look, doesnt suit everyone but what does? another one I use is Xendpay who until recently like I said was better rates than Transferwise but it does seem Transferwise have sorted themselves out but again take a look all I can say the rates and charges are far better than the banks.

[JamJar]

2 hours ago, tutsiwarrior said:

I have USD, EUR and GBP accounts in the UK at the same bank and the bank exchange rate is criminal...is it possible to transfer currency between accounts at the same bank with Transferwise?

You can use https://revolut.com for this at the mid market rate and at no cost to yourself whatsoever.

 

No need to sign up through certain people's referral links.

 

If they are going to do that, they should at least be transparent about what they are doing.

 

 

[Expattaff1308]

11 hours ago, JamJar said:

You can use https://revolut.com for this at the mid market rate and at no cost to yourself whatsoever.

 

No need to sign up through certain people's referral links.

 

If they are going to do that, they should at least be transparent about what they are doing.

 

 

I just checked the rate with these and its less than the bank rate 43.12 to GBP.

GBP – British Pound To THB – Thai Baht 43,129.70

Transferwise is 44.79 and Xendpay 44.54  The Banks currently 44.14

I use the link to make it easy,, you are 1. Not obliged to use the link Google it yourself if you so wish and

2. You are not obliged to use the site its not a case of one suits all. The option is always yours. But if you cant pass on good info what is the use of using the forum.

I will always try to use the best site to get the best costs and rates and have always been grateful to those who have alerted  me to new ways to achieve this and beat the banks, but as they say here in Thailand it up to you...

Edited April 30, 2017 by Expattaff1308

[robin33]

Revolut is better but NOT in the weekends. Transferwise did gave a better result. With a higher amount (1000) Not for lower (400). Against xendpay


Verzonden vanaf mijn iPhone met Tapatalk

[Expattaff1308]

29 minutes ago, robin33 said:

Revolut is better but NOT in the weekends. Transferwise did gave a better result. With a higher amount (1000) Not for lower (400). Against xendpay


Verzonden vanaf mijn iPhone met Tapatalk

Are you saying they give better rates Monday to Friday? Usually the rate shown at weekends is the rate at close of business on the Friday. Can I ask where are they based and are they covered by the FSA?

[KhunBENQ]

35 minutes ago, robin33 said:

Revolut is better but NOT in the weekends

Terrible!

They show 1000 Euro = 36,282.80 THB.

 

"Always get the real exchange rate"
 

Are they joking????

 

Last TT rate from Friday at Thai banks was 37.4.

xe.com currency rate now is 37.7.

Cash exchange in Bangkok today 37.5.

 

[robin33]

Revolut is better but not in the weekends , the charge some extra when fx is closed. .. try again Monday you will see...


Verzonden vanaf mijn iPad met Tapatalk

[KhunBENQ]

22 minutes ago, robin33 said:

try again Monday you will see...

I will

[Expattaff1308]

25 minutes ago, robin33 said:

Revolut is better but not in the weekends , the charge some extra when fx is closed. .. try again Monday you will see...


Verzonden vanaf mijn iPad met Tapatalk

Are you saying they give better rates Monday to Friday? Usually the rate shown at weekends is the rate at close of business on the Friday. Can I ask where are they based and are they covered by the FSA?

[robin33]

Are you saying they give better rates Monday to Friday? Usually the rate shown at weekends is the rate at close of business on the Friday. Can I ask where are they based and are they covered by the FSA?

From revolut website:

At the weekend (Friday 00:00 - Sunday 23:59) we apply a small mark up on the spot rate as the Forex markets are closed. We take the rate from Friday 00:00 and apply a 0.5% mark up on major currencies and 1.0% on other currencies to protect the company from potential losses due to a large fluctuation in the rate. For illiquid currencies Russian Ruble and Thai Baht, there is 1.5% mark up on weekend.

 

I thing U.K. Time....

[Expattaff1308]

Just now, robin33 said:

From revolut website:
At the weekend (Friday 00:00 - Sunday 23:59) we apply a small mark up on the spot rate as the Forex markets are closed. We take the rate from Friday 00:00 and apply a 0.5% mark up on major currencies and 1.0% on other currencies to protect the company from potential losses due to a large fluctuation in the rate. For illiquid currencies Russian Ruble and Thai Baht, there is 1.5% mark up on weekend.

Ah you work for them...I understand and will check them out on Monday, but you didnt say where their company is or wether they are covered by the FSA. Knowing where they are I can check when they are open

[robin33]

No I do not work for them...(but are one off their biggest fans, and early adopters)

 

For you questions (as I do not know what FSa means ).

Check their website...revolut.com

 

 

Verzonden vanaf mijn iPad met Tapatalk

I

 

[Expattaff1308]

2 minutes ago, robin33 said:

No I do not work for them...


Verzonden vanaf mijn iPad met Tapatalk

Sorry my mistake you wrote We take the rate from Friday 00:00 and apply a 0.5% mark up on major currencies and 1.0% on other currencies to protect the company from potential losses due to a large fluctuation in the rate which made me assume you did.

So I will ask again where is the company based and is it covered by the FSA

Edited April 30, 2017 by Expattaff1308

[robin33]

Sorry my mistake you wrote We take the rate from Friday 00:00 and apply a 0.5% mark up on major currencies and 1.0% on other currencies to protect the company from potential losses due to a large fluctuation in the rate which made me assume you did.
So I will ask again where is the company based and is it covered by the FSA

As said from their website:......


Verzonden vanaf mijn iPad met Tapatalk

[Expattaff1308]

Just now, robin33 said:

As said from their website:......


Verzonden vanaf mijn iPad met Tapatalk

I guess you are unable to answer my question then afterall I asked it 3 times

[robin33]

I did ... refresh your post... I said I have no idea what Fsa means .. check their site all info should be there...



Verzonden vanaf mijn iPad met Tapatalk

[Expattaff1308]

2 minutes ago, robin33 said:

I did ... refresh your post... I said I have no idea what Fsa means .. check their site all info should be there...



Verzonden vanaf mijn iPad met Tapatalk

Obviously not UK based then

[robin33]

Why not? Because I don t know fsa ...I'm not from the U.K.

Address took 10 seconds to find on their website
Revolut Limited
Level 39, One Canada Square
E14 5AB London, United Kingdom





Verzonden vanaf mijn iPad met Tapatalk

[Expattaff1308]

8 minutes ago, robin33 said:

I did ... refresh your post... I said I have no idea what Fsa means .. check their site all info should be there...



Verzonden vanaf mijn iPad met Tapatalk

FSA is the financial regulator for the UK, 

[Expattaff1308]

7 minutes ago, robin33 said:

Why not? Because I don t know fsa ...I'm not from the U.K.

Address took 10 seconds to find on their website
Revolut Limited
Level 39, One Canada Square
E14 5AB London, United Kingdom





Verzonden vanaf mijn iPad met Tapatalk

But nowhere on their site to email them only chat at some chat site or telephone

Ok thanks for your help I will check them out again during opening hours.

Edited April 30, 2017 by Expattaff1308

[robin33]

Did not look for email... but indeed by chat ,phone or blog. More then enough I would think....
I used the chat a few times . They will respond with an satisfactory answer.


Verzonden vanaf mijn iPad met Tapatalk

[robin33]

Your question. Was wrong I think .. you asked FSA as it is FCA? Right?

See the revolut site:
client funds are stored under a segregated account at Lloyd’s or Barclays, depending on the type of account you hold. As an FCA authorised institution, your funds are safeguarded as per FCA requirements, the Electronic Money Regulations 2011 and the Payment Services Regulations 2009. In the event of an insolvency, you will be able to claim your funds from this segregated account and your claim will be paid above all other creditors.

Of course you could transfer in £1 million pounds to your Revolut account, however, there is a weekly limit of 125K. You can find more info here: https://revolut.com/modulr-account-terms6


Verzonden vanaf mijn iPad met Tapatalk

[CharlieH]

FCA

The Financial Conduct Authority (FCA) is a financial regulatory body in the United Kingdom, but operates independently of the UK government, and is financed by charging fees to members of the financial services industry.

 

FSA

www.fsa.gov.uk. The Financial Services Authority (FSA) was a quasi-judicial body responsible for the regulation of the financial services industry in the United Kingdom between 2001 and 2013. It was founded as the Securities and Investments Board ("SIB") in 1985.

 

[robin33]

Oke , thanks ... so which is better and does FSa still operate? And as non U.K. Citizens do there rules apply


Verzonden vanaf mijn iPad met Tapatalk

[KhunBENQ]

57 minutes ago, robin33 said:

For illiquid currencies Russian Ruble and Thai Baht, there is 1.5% mark up on weekend.

Illiquid? Nonsense.

 

1.5% ?

See post #9,

More than 3%.

 

And why does VISA (ATM withdrawal) not need such voodo and shows todays exchange rate at 37.468 (compared to 36.2 at revolut)?

 

[robin33]

Again only in the weekend..."


Verzonden vanaf mijn iPad met Tapatalk

[JamJar]

18 hours ago, Expattaff1308 said:

I just checked the rate with these and its less than the bank rate 43.12 to GBP.

GBP – British Pound To THB – Thai Baht 43,129.70

Transferwise is 44.79 and Xendpay 44.54  The Banks currently 44.14

I use the link to make it easy,, you are 1. Not obliged to use the link Google it yourself if you so wish and

2. You are not obliged to use the site its not a case of one suits all. The option is always yours. But if you cant pass on good info what is the use of using the forum.

I will always try to use the best site to get the best costs and rates and have always been grateful to those who have alerted  me to new ways to achieve this and beat the banks, but as they say here in Thailand it up to you...

 

No, what you are doing was posting referral links, for which someone gets a kickback.

 

That is fine, if someone decides to participate. Just be open about it.

 

As to posting GBP to Thai baht rates, perhaps you didn't notice, but tutsiwarrior wants

 

Quote

I have USD, EUR and GBP accounts in the UK at the same bank and the bank exchange rate is criminal...is it possible to transfer currency between accounts at the same bank

 

Nothing to do with GBP to THB pairing.

 

I don't recommend Revolut for exchanging to Thai baht. But excellent for tutsiwarrior's need.

 

 

Edited April 30, 2017 by JamJar