Transferwise info

[thinkingallowed]

Just made another transfer today and the rate was 49 baht if you imagine it is fee free or 49.7 plus £10 ish fee.

[okdirl]

Ok so my money just arrived in Thailand. I used Transferwise with a promo offer for fee free €3k transfer. I got the full amount into my Thai bank with no charges on there end so 100% positive review for Transferwise.

Now if I was to send a larger amount that's a different story. The fees go up substantially for higher transfers.

UKforex offer a better fee structure but slightly lower exchange rates. If they use the same system and ship my money from one of there Thai banks after receiving it into there UK bank then they will be the better option. As soon as the baht goes up a little (I hope) then I will be sending the next transfer.

[thinkingallowed]

Ok so my money just arrived in Thailand. I used Transferwise with a promo offer for fee free €3k transfer. I got the full amount into my Thai bank with no charges on there end so 100% positive review for Transferwise.

Now if I was to send a larger amount that's a different story. The fees go up substantially for higher transfers.

UKforex offer a better fee structure but slightly lower exchange rates. If they use the same system and ship my money from one of there Thai banks after receiving it into there UK bank then they will be the better option. As soon as the baht goes up a little (I hope) then I will be sending the next transfer.

Glad that worked out for you.

[Harvey707]

Am surprised at some of you Guys really need to use the Kiss principle on Transfers.

Send via HSBC for £4 let the transfer hit your Thai account at Telegraphic Transfer Rates and thats it. No worrying about quotes etc. You really think these transfer companies are supposedly giving best rates for free or tiny fees,

 

I refer you to my reply earlier of a £5,000 transfer using Halifax or Transferwise. You can do the same calculation yourself anyway using your Thai Banks website.

 

FYI and although few know I worked for Barclays for 9 years. Am at a loss as to why anyone would use UK forex or Transferwise (apart from maybe the introductory fee free deal)

[okdirl]

Am surprised at some of you Guys really need to use the Kiss principle on Transfers.

Send via HSBC for £4 let the transfer hit your Thai account at Telegraphic Transfer Rates and thats it. No worrying about quotes etc. You really think these transfer companies are supposedly giving best rates for free or tiny fees,

 

I refer you to my reply earlier of a £5,000 transfer using Halifax or Transferwise. You can do the same calculation yourself anyway using your Thai Banks website.

 

FYI and although few know I worked for Barclays for 9 years. Am at a loss as to why anyone would use UK forex or Transferwise (apart from maybe the introductory fee free deal)

NOT EVERYONE HAS HSBC.

 

Omg mate we get it your a big high flyer that knows everything but helps nobody.

Congrats on your banking experience but it's crap all use to anyone here it would seem.

 

Also the current bank exchange rate is 38.62

Ukforex is 39.03. The bank has a fee while forex is free on ALL transfers over €3k so how is the bank cheaper and better?

 

Your info is flawed yet again Mr banker.

[westie1]

Am surprised at some of you Guys really need to use the Kiss principle on Transfers.

Send via HSBC for £4 let the transfer hit your Thai account at Telegraphic Transfer Rates and thats it. No worrying about quotes etc. You really think these transfer companies are supposedly giving best rates for free or tiny fees,

 

I refer you to my reply earlier of a £5,000 transfer using Halifax or Transferwise. You can do the same calculation yourself anyway using your Thai Banks website.

 

FYI and although few know I worked for Barclays for 9 years. Am at a loss as to why anyone would use UK forex or Transferwise (apart from maybe the introductory fee free deal)

 

Harvey. It's not the 4 pound charge. It's the currency rate.

As per my previous post, I would have lost 170 on a 3.5 k transfer using HSBC.

I ended up using Uk forex. This was a pound to euro

[thinkingallowed]

 Am at a loss as to why anyone would use UK forex or Transferwise (apart from maybe the introductory fee free deal)

What is a better deal than Transferwise to send £250 to Thailand? 

 

One reason I use it to send the housekeeping to Mrs Thinkingallowed is because with Transferwise I get to choose how much baht is received at the other end so she gets exactly the figure I want. With banks I have to guess what the rate will be in a couple of days time. Of course that means I have to estimate the figure in her favour usually by around £20 so using HSBC would in reality cost me £24 per month.

 

There is no one ideal transfer method that fits every transaction but sharing ideas with other board members is good.

[davidge]

http://news.sky.com/story/1650854/transferwise-closes-in-on-new-funding

[okdirl]

Don't forget my vouchers. :-)

Hey mate

Did you get your voucher? I got mine in my email just now [emoji106][emoji4]

[westie1]

Hey mate

Did you get your voucher? I got mine in my email just now [emoji106][emoji4]

 

I did indeed.

[okdirl]

I did indeed.

I love it when a plan comes together

[westie1]

I love it when a plan comes together

 

Did you get a good rate.

[okdirl]

Did you get a good rate.

It was looking rough there for a while. Dropped like a stone so i held out till the last minute and prayed. In the end I got 38.8 which is bad but better than it could have been. It was also fee free so that was something

[okdirl]

Quick update, Ukforex fuck you with bank charges as they send your funds to a routing bank unlike transferwise that send it direct in country. Lesson learnt next time Shove the money down your pants and pray customs don't search you.

[westie1]

Quick update, Ukforex fuck you with bank charges as they send your funds to a routing bank unlike transferwise that send it direct in country. Lesson learnt next time Shove the money down your pants and pray customs don't search you.

 

How much were you charged

[oldtrees]

I'm just about to complete a TW payment to my Thai bank account.

Two payments in total, a small test payment(fee waived due to first payment from new account) and a slightly larger payment(includes TW fee)

Will post deats of both when completed.

[okdirl]

How much were you charged

Cost me about €100

I'm just about to complete a TW payment to my Thai bank account.

 

Two payments in total, a small test payment(fee waived due to first payment from new account) and a slightly larger payment(includes TW fee)

 

Will post deats of both when completed.

Transferwise is great on small amounts but anything substantial and you get fucked in the ass.

[oldtrees]

What is better AH? & what do you mean by 'substantial' ?

[westie1]

Cost me about €100

 

Transferwise is great on small amounts but anything substantial and you get fucked in the ass.

No matter who you go with, There is always hidden fees or poor exchange. The fuckers

[okdirl]

TW is good on less than €500 but goes up on fees dramatically as you get higher. Few hundred quid for a few thousand transfered

[oldtrees]

My TW rate gets better and better the higher I go from £50, 500, 5000, 50000.

 

Could it have something to with your payment card being in Euros?

 

e2a: Euros is the same for me ...Irish gov tax or something?