My smart friends, question:
US bank account, Does it make better financial sense to withdraw 30,000 baht from local ATM and then deposit it into Bangkok Bank with out of province fees and local bank exchange rates...
OR use Wise and transfer?
TLDR : Answer Summary
The discussion revolves around whether it's more financially advantageous to withdraw 30,000 baht from a local ATM in Thailand and deposit it into Bangkok Bank, considering potential fees and exchange rates, or to utilize Wise for a transfer. Users highlight that Wise generally offers lower rates and fees compared to ATM withdrawals, with many affirming that Wise is faster and more efficient. However, some users note that using local ATMs can be beneficial if withdrawal fees are refunded by the user's US bank and the exchange rate is favorable. Ultimately, varying experiences lead to a consensus that for smaller amounts, Wise is preferable, while for larger transfers, direct bank-to-bank options might be more cost-effective.