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I need to send a small amount of money to a friend in Thailand but what are my options? Bank to bank and Western Union come to mind. Years ago I did bank to bank and I remember there being a bank charge. Are Western Union charges much higher?

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thinkingallowed

Transferwise probably cheapest bank to bank for small amounts 

A friend recommended world remit to me for instant cash pick up 

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exercise

Looks like World Remit works out better than Western Union for the amount I'm thinking of sending and both are instantaneous. Their exchange rates and charges are clear but I don't know what is the charge to send the funds to them in the first place. If they have accounts here then I guess it's just a bank transfer.

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K...

Transferwise is probably the best option. Good rates and easy to do.

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talung66
1 hour ago, exercise said:

I need to send a small amount of money to a friend in Thailand but what are my options? Bank to bank and Western Union come to mind. Years ago I did bank to bank and I remember there being a bank charge. Are Western Union charges much higher?

Above get a yes from me but if your in sydney ; melbourne  or brisbane for ease just go to xwing over the counter in account within a few hours.

Today here rate is 20.72 at TT the xwing rate is 20.30 and as it your first transaction it will 20.40

i use it now regularly sending money to myself and dont need to carry cash anymore.

https://www.facebook.com/xwingptyltd

 

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exercise
17 minutes ago, K... said:

Transferwise is probably the best option. Good rates and easy to do.

Does Transferwise pay to a bank account only?

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K...
20 minutes ago, exercise said:

Does Transferwise pay to a bank account only?

Yes, you pay from your debit card or transfer from your account and they transfer it to the recipients account. Minimal fees compared to doing a direct transfer from your bank.

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Rico09
I need to send a small amount of money to a friend in Thailand but what are my options? Bank to bank and Western Union come to mind. Years ago I did bank to bank and I remember there being a bank charge. Are Western Union charges much higher?
I use Western Union

Sent from my SM-G955U using Tapatalk

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jt83

Transferwise for sure

 

costs a couple of quid to send - compared to say £10 via your bank and any other fees they wish to charge

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frantick

Does TW have a limit? Wondering because I want to transfer 800k for extension in a short period of time and my bank wire is limited to $5000/day, $15000/month. Thanx!

Sent from my SM-N920P using Tapatalk

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thinkingallowed
51 minutes ago, frantick said:

Does TW have a limit? Wondering because I want to transfer 800k for extension in a short period of time and my bank wire is limited to $5000/day, $15000/month. Thanx!

Sent from my SM-N920P using Tapatalk
 

Probably, it looked like it was going to allow me to transfer that amount on a dummy transaction I just tried. You may have to do an ID check which is painless and quick in my experience. If I remember correctly a photo of passport was enough. 

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sulu

Doesn't Paypal handle multiple currencies ?

I know there are no fees for "gifting" from one person to another; at least in the USA and with USD.

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Nando9999
14 hours ago, sulu said:

Doesn't Paypal handle multiple currencies ?

I know there are no fees for "gifting" from one person to another; at least in the USA and with USD.

PayPal sting you with shithouse conversion rates, for a small amount it may be ok and work out cheaper than paying someone like TransferWise a fee though.

 

TransferWise may need you to supply them with documents to verify your account so be aware it may not be an immediate transfer if you go that route, they are pretty quick though, I processed a transfer via debit card yesterday that hit my Bangkok bank account today..

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Barhop
On 14/08/2019 at 15:07, exercise said:

I need to send a small amount of money to a friend in Thailand but what are my options? Bank to bank and Western Union come to mind. Years ago I did bank to bank and I remember there being a bank charge. Are Western Union charges much higher?

I find Bahtsmart convenient.  Exchange rate ok and no fees.  You can pay them online or direct to an ANZ that accepts deposits.

Have done mine online and not tried the cash via ANZ ATM yet.

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exercise

So I've gone with Transferwise and have received emails confirming funds being deducted from my account and then sent to the recipient's bank. I assume that the final step is the recipient's bank making the funds available to the recipient. Will I get a notification from Transferwise that this has happened? Answering my own question I guess not as each bank works differently and they wouldn't be notifying Transferwise as a norm.

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thinkingallowed
5 minutes ago, exercise said:

So I've gone with Transferwise and have received emails confirming funds being deducted from my account and then sent to the recipient's bank. I assume that the final step is the recipient's bank making the funds available to the recipient. Will I get a notification from Transferwise that this has happened? Answering my own question I guess not as each bank works differently and they wouldn't be notifying Transferwise as a norm.

Transferwise usually tell you at every stage when they think that the funds will be available in the Thai bank. The only time this changes is when they have forgotten about bank holidays, in my experience.

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gaz1889
4 hours ago, exercise said:

So I've gone with Transferwise and have received emails confirming funds being deducted from my account and then sent to the recipient's bank. I assume that the final step is the recipient's bank making the funds available to the recipient. Will I get a notification from Transferwise that this has happened? Answering my own question I guess not as each bank works differently and they wouldn't be notifying Transferwise as a norm.

In my experience TW send you a message to say when the money has been sent & when it SHOULD be in the recipient's account. Nothing to confirm the funds are actually available. 

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exercise

Yes that's my experience too. But just as anxiety levels were getting high my friend texted to say the funds had arrived. It took almost to the minute 24 hours to arrive. Not bad.

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talung66
21 hours ago, Barhop said:

I find Bahtsmart convenient.  Exchange rate ok and no fees.  You can pay them online or direct to an ANZ that accepts deposits. Are you saying this can be done over the counter.

Have done mine online and not tried the cash via ANZ ATM yet.???

i am guessing you're sending it to yourself.would this be kosher for condo purchase as it needs to be stated as one in thai account as  a foreign transaction.  

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Atlas
On 14/08/2019 at 18:09, thinkingallowed said:

Transferwise probably cheapest bank to bank for small amounts 

A friend recommended world remit to me for instant cash pick up 

+1, good rates usually equal or a little better than cash. 

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Barhop
23 minutes ago, talung66 said:

i am guessing you're sending it to yourself.would this be kosher for condo purchase as it needs to be stated as one in thai account as  a foreign transaction.  

Have sent money for three Oz resident TG's over the last few years and only recently to my new Thai bank account.  Those are facts.

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