Answered3 years ago
Have transfer fees from USA to Thailand increased significantly?
Unless I read it wrong, looks like a massive increase in transfer fees from USA - Thailand.
Answer summary
There has been a discussion among users regarding the recent increase in transfer fees for sending money from the USA to Thailand. Some users noted that previously low fees from services like Wise have increased, while others mentioned alternative options like Western Union. Concerns were raised about the implications of these fee hikes for expatriates trying to manage their finances between currencies, particularly USD and THB. While some users reported only minor increases, others pointed out that for those doing larger transfers, the changes could significantly impact their expenses.
61 repliesnewest first
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Ling *****
There is only 1 rule when using wise to transfer to Thailand. That is not to look at the fees but to look at the nett result after fees. So far I can't find any transfer company that can do it better. By the way my country Australia shows fees of triple of USA fees yet I only pay $7.47 aud in fees for a $1,000 transfer. Anyhow the nett result after all fees and expenses is all that matters.
Terry ********
I didn’t get the email but I did see something encouraging when reviewing my Bangkok Bank account. The last couple of transfers I made showed as international transfers and I didn’t even mark them “for long term stay in Thailand “.
Colin ********
I do every week
Tony ********
Now try sending something via Wise from THB to USD or whatever... 🙄
Terary **********
Thank you for posting this. It may not effect me but it is something I need to pay attention to. - Thank you
Incognia **********
Crypto everything is cheaper and in 10minutes.
Christopher *********
Use western union
Erin ***************
Use an atm card with a bank that refunds fees
Andrew *********
Bastards
Sel *****
Revolut
Colin ********
I did a wise transfer today, 31 thb fee
Garrett ***********
OP@Colin *******
And?
Tyler *******
My friend used Charles Schwab. She would just deposit from her US Bank into a Charles Schwab account and then use the Schwab ATM card in Thailand. Schwab refunds all international ATM fees, so she only got charged the exchange rate of the bank.
Alsoknownas *********
schwab is a pain in the ass due to there 4 business day holds on deposits. I put money into schwab from my account with another bank(which I have linked and use often). I use it to get local currency from the international atms but i cant take any of it out for sometimes up to a week.
Brandon ************
@Tyler ******
I still do this occasionally but got lazy
Jeffrey *********
@Brandon ***********
Same. Wise costs a bit more, but usually takes only a few seconds, and I can do it while lying on the sofa - the Schwab ATM method can require going to an ATM several days in a row if you need a bunch of cash.Tyler *******
@Jeffrey ********
Yeah, positives and negatives on both sides, for sure.
Richard *********
????
last month sent $1,200 from usa to SCB in Thailand< cost me $9.81
just checked and its now $10.33
I think i can handle the increase
last month sent $1,200 from usa to SCB in Thailand< cost me $9.81
just checked and its now $10.33
I think i can handle the increase
*****
5
Ivan ************
This is a bummer for people who want to use Wise to send USD to a USD-denominated FCD account in Thailand, without converting it to THB. It has no bearing on USD-THB transfers.
Carlos *********
I didn't get that??
Duncan *******
What does the top option say that you put the red line through? Wise or Wire? Side note, I haven't got any notice from them of changes and I'm currently waiting for my monthly pay to come in.
Wylie *******
@Duncan ******
wire, I got the same emailGarrett ***********
OP@Duncan ******
I just got the email an hour ago. Everyone should have gotten it.Garrett ***********
OP@Duncan ******
WireDuncan *******
@Garrett **********
So normal Wise payments are not affected then - good news.Garrett ***********
OP@Duncan ******
How is it transferred?Duncan *******
@Garrett **********
domestically in the US? I have money paid into my Wise account in the US and then I transfer most of it to Thailand which shouldn't involved ACH or Wire transfers.Garrett ***********
OP@Duncan ******
Normal wise transfers use ACH method.Wylie *******
@Duncan ******
what do you mean by "normal" wise payments? I normally used the "ACH" method since it was always the cheapest option. The fee for that method of transferring USD is going up as well.Edgar ************
Western union is often more competitive. I always double check to be sure.
Michael ********
@Ned *******
yes i was very surprised how competative they are now, had to use in Indonesia last year very goodBrian ***********
@Ned *******
WU charged 10% last time on $3,000. Never againEdgar ************
@Brian **********
In 1985?Brian ***********
@Ned *******
nothing strange . Western Union are gouging . Just the facts.Edgar ************
@Brian **********
It was cash deposit at a western union office, they charge an extra fee for that (couldn't have been an additional 7.5%) so either your calculations are wrong or something else strange has happened.Brian ***********
@Ned *******
its from Florida .Edgar ************
@Brian **********
The receipt is from a South American country. That's the reason you got a shit rate. Transfer using the app for the 2.4% rate I mentioned.Edgar ************
@Brian **********
Just did the recalculation with the cash pickup option. The difference came to 2.13% so whilst it's a worse option yes - still nowhere near 10%. I would say if you're sure there was no dodgy stuff then whats happened is you did a recalculation at a time after the transfer when there was a MASSIVE currency swing. That's the only thing I can think of because 10% is unheard of.Brian ***********
@Ned *******
I just asked for the 10% extra. Western Union cash pickup was what they sent. So WU was a gouging pig.I don't share any banking details internationally. That's never going to happen
Matthew ********
The 10% fee is when you choose cash pickup option. Choosing pickup USD and converting elsewhere will be much better rate if cash is your only option.
Edgar ************
@Brian **********
Your 'friend' ripped you off, very badly. I'd urge you to investigate that immediately. As can be seen here, I'm getting a total conversion on a $5000 AUD transfer that is 0.46% shy of the market currency rate. 10% is an absolute scam, your friend undoubtedly scammed you.Brian ***********
@Ned *******
2 months ago . Friend sent $$$ , WU office paid out 10% shy. I have the docs . Gave 32.37 baht on the dollar delivered.
Steve *******
@Ned *******
WU has cheaper fees but that's offset by the piss poor exchange rate. Moneygram is even cheaper than WU.Edgar ************
Yes.
Dave *********
@Ned *******
Really?Brandon ************
Pretty sure this has nothing to do with sending money to Thailand or any other countries because those aren't sending USD internationally.
Wylie *******
@Brandon ***********
I got the same email. Not sure what you are trying to say, but the way I'm reading it if I send money from my US bank to my thai bank account then those new fees will apply at the end of the month. Which if I use their example of transferring $3,900 is an increase in the fee from $30.72 to $36.05.Brandon ************
@Wylie ******
you're not sending USD to Thailand, you're sending Baht to Thailand. The USD never leaves the United States.The new fees are if you want USD to arrive to someone in Thailand.
Brandon ************
@Kool ******
they may do it for other countries. Or just other Wise users with accounts based in other countries 🤷🏻♂️
Kool *******
@Brandon ***********
but it is a fare increase by Wise. Why would they raise the fare for something they don't do, and never have done?Brandon ************
@Kool ******
that's what I said, also why I said the changes don't affect transferring to Thailand because you're not transferring dollars to Thailand. The changes are only for transferring USD internationallyKool *******
@Brandon ***********
it's a foreign currency deposit account that you need to receive dollars into your account as dollars, and kept as dollars. Wise does not send dollars, and never had, they receive dollars on paper, then exchanges at their rate, with a transaction fee. The dollars are not changed into baht before the transfer leaves the US.Brandon ************
@Kool ******
I don't know anything about FCDKool *******
@Brandon ***********
you do understand that you can not send US dollars into a Thai FCD using Wise.
Werner *******
@Brandon ***********
Thank you for this insight. It's a small difference, but quite important...Brandon ************
@Wylie ******
I imagine there's a ton of regulations involved with sending USD overseas and it's probably expensiveWylie *******
@Brandon ***********
at first I just thought you were hung up on the semantics of the post. I assumed the fee increase was for sending USD to be converted to THB into Thailand. But reading the first paragraph of the changes makes it appear that you are correct. It's only if you want USD to arrive in Thailand.
Rogerio ******
Why wouldn't you do a Wire over ACH, for larger amounts?
How much was Wise before?
How much was Wise before?
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