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Today's episode with a couple of reasons why it is worth looking around before changing more than a days spending. Now my quest for the worst rate not a bank And finally, why we are suspi

Never thought I would be pleased to see 41.3   

Rates for the holiday weekend....

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Darn. Popped into town yesterday and completely forgot. 

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It is a long holiday weekend here...

20211206_095718 (3).jpg

 

Edited by jacko
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14 hours ago, Rawhide2 said:

Good example of Sterling being virtually identical to the landing rate of Transferwise (45.27)

Transferwise (Wise) seem subject to a few changes..... I noticed you can only send over 50,000 baht in a transaction to 3 Thai banks, Bangkok Bank, SCB and I think Kasikorn... the rest are limited. Obviously multiple transactions would get around this. I hadn't used it for a spell so wanted to check it out and had some problem to find the Open Banking option, using my UK bank... but after 2 cancelled attempts, it was there and worked. I did not select the 'Transfer for Long Term Stay in Thailand' option and the money appeared in Thailand instantly... whether it was the lesser amount, or the selection I used, or both, not sure. It looks a bit more expensive to use too now. 

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Not exact math but for the US guys thinking about Direct Deposit of SS and pension.I recently got a disappointing 31/usd,to BB.  Transferwise 33/usd with TT coming in slightly higher but poor comparison since i'm not exchanging 100 usd bills. 

 

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1 minute ago, sailingbill said:

Not exact math but for the US guys thinking about Direct Deposit of SS and pension.I recently got a disappointing 31/usd,to BB.  Transferwise 33/usd with TT coming in slightly higher but poor comparison since i'm not exchanging 100 usd bills. 

 

Ouch, that's a big difference. Wonder why.

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6 hours ago, jacko said:

Transferwise (Wise) seem subject to a few changes..... I noticed you can only send over 50,000 baht in a transaction to 3 Thai banks, Bangkok Bank, SCB and I think Kasikorn... the rest are limited. Obviously multiple transactions would get around this. I hadn't used it for a spell so wanted to check it out and had some problem to find the Open Banking option, using my UK bank... but after 2 cancelled attempts, it was there and worked. I did not select the 'Transfer for Long Term Stay in Thailand' option and the money appeared in Thailand instantly... whether it was the lesser amount, or the selection I used, or both, not sure. It looks a bit more expensive to use too now. 

I've literally 5 minutes ago sent £281 gross purely profit from Crypto in last 24 hours

As I've clicked "I've sent the money" (To Wise) the email notification of money sent back out was instant. 10 seconds later by the time I've logged into app the cash was already in Thai bank

(Edited to add I used medical expenses for reason for sending just to see what happened ! )

 

Edited by Rawhide2
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Transferwise (Wise) seem subject to a few changes..... I noticed you can only send over 50,000 baht in a transaction to 3 Thai banks, Bangkok Bank, SCB and I think Kasikorn... the rest are limited. Obviously multiple transactions would get around this. I hadn't used it for a spell so wanted to check it out and had some problem to find the Open Banking option, using my UK bank... but after 2 cancelled attempts, it was there and worked. I did not select the 'Transfer for Long Term Stay in Thailand' option and the money appeared in Thailand instantly... whether it was the lesser amount, or the selection I used, or both, not sure. It looks a bit more expensive to use too now. 
Did Wise raise the fees?
Are the rates worse also?

Sendt fra min ANE-LX1 med Tapatalk

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5 hours ago, Odense said:

Did Wise raise the fees?
Are the rates worse also?

Sendt fra min ANE-LX1 med Tapatalk
 

Rates looked to be as before, matching the spot rates as you might see on trading platforms. Since the fees are a percentage I did not notice at first, but felt it had gone up. Still competitive. 

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On 1/13/2022 at 8:06 AM, sailingbill said:

Not exact math but for the US guys thinking about Direct Deposit of SS and pension.I recently got a disappointing 31/usd,to BB.  Transferwise 33/usd with TT coming in slightly higher but poor comparison since i'm not exchanging 100 usd bills. 

It was getting close to the time I needed to transfer more funds over, so initiated a SWIFT transfer from Schwab to Bangkok Bank yesterday. Funds just hit my account, and after backing out the 500B receiving fee the rate I got was 33.17. 

I check the rate I get against the rate quoted on Xe and usually I loose about 0.15, but for some reason on this transfer there was no loss. On the send side though Schwab charged me a $15 wire transfer fee and an "other fee" of $18.82 when in the past there have been no fees. I've sent a message off to Schwab asking for explanation on the fees.

I would recommend a follow up call with Bangkok Bank for the reason why you received such a low exchange rate.

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On 1/13/2022 at 8:08 AM, VPI78 said:

Ouch, that's a big difference. Wonder why.

would take some math skills to figure correctly. BB takes $5 bucks when it hits New York, then  exchanges dollars to baht, then takes out 200 baht. So to calculate baht to the dollar using the baht in your Pattaya BB account and what SSA says they gave you is complicated. I figure 350 baht or more you never see because of the 'cost' involved.

But I agree, not a good exchange rate. We could do better more accurate maths if we knew the original amount SSA sent to BB in New York.

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