Is Wise a better option than Revolut for transferring money to Thailand?

@Jack ********

xe and other fx take from intermediatry banks. NOT WISE. If you send 20k youget20k.

Slightly jumbled notes to say the same - use Wise.

Auto convert within Wise - £10.94 on £2000

Spend THB with Wise card: free

Transfer Wise THB balance to Bangkok Bank: 31.70 Baht (79p) per trx, any amount

Convert and transfer: sum of above (eg £2000 => ie, 10.94 + 0.79)

So rarely any reason to just convert - you may as well set up an automated transaction a percent or two better than the current rate, depending on how much of a rush you're in, turn your phone off and forget about it, and Wise will snipe the better rate whenever a peak comes along.

Global Reach (a dedicated broker) just gave me a quote, £20k 6th Dec 5pm gmt+7, 42.59 no fees, so 851,800 (haven't clarified but assume 500 Baht receiving fee would also apply when they SWIFT THB to Bangkok Bank)

Interbank rate, at time 42.7467 (I miss this rate!)

Bangkok bank TT buy at time 42., net 845,950 Baht

Wise at time 42.7570, £110 fee (0.5%), net 850,430 Baht

Currency club 849,867

Currency fair 851,923 (assume receiving charge of 500 Baht to come off too)

Remitly is good if you're American.

Looked into a few others, including moneygram and XE, nothing comes close to these. monito.com gives you some quotes.

Alternative currency brokers much like Global Reach are Currencies Direct, TorFX and Moneycorp (but they refused to give me a spot rate without passing all the 'know your client' checks).

So Global Reach better than Wise but only by 900 Baht / 0.1%. They could probably push things though - this was just a spot rate reluctantly shared.

Currency Fair was better than Wise by 1,100 Baht / 0.13%. EDIT: Checked again a few weeks later, amid a sinking market, and on both occasions CurrencyFair was worse than Wise. I also tried CurrencyFair and had a week of paperwork proving source of funds before they'd release my converted funds, by which time I'd lost a fair bit on the rate. My money was from savings, so I couldn't provide a wage slip etc. They threatened to keep the money. Wise always easy.

On CurrencyFair and Wise, you can put a limit order, or automated transaction, that triggers if a rate reaches a given level. These need time and care, but are great for grabbing a rate that is only available briefly due to a momentary spike. With Wise, they leave a THB balance in Wise, which can be spent on the card absolutely free, or transferred to a Thai bank for 32 Baht (fixed charge, regardless of amount).



If you use this to open your Wise account, you get fee free transfers for your first £500. If I get three people to transfer £200+ in one go, I get £50.

Transfer USD to Binance. Buy USDT and send to Bitkup. Buy THB and transfer to Bangkok Bank.

Can all be done in a few minutes and I pretty much always beat the Wise quote

Wise better for the transfer as instant and fees lower but can fund it from Revolut

Wise, 100%

Wise arrives in 2 to 3 seconds.

It also gives you a comparison before sending. Wise is usually the 2nd cheapest but I use Wise for quality not quantity.

I transferred 50k baht to my Thia gf bank account and she was very happy that she received it within 2 minutes. Surprisingly, she gave it to me so I have money to spend it on her. Poetic justice. 🙄

Give the “moneygram” app a try. I used to use wise but it started giving me issues and transfers getting cancelled after waiting for days so i started using moneygram. Moneygram sometimes is slow it might take a week sometimes it takes 2 days to get your money. But in general it gave me a much better exchange than wise. (From USD to baht).

Wise-every time for me.

Wise is the go, I transfer 20,000 baht. Takes a few minutes

What about other way round? What's best way of transferring paper bath to foreign account?

How would we know, you have to compare with Wise when you are about to do the transfer to see which is best

There's remitly in addition to the others listed above, but wise is the only one that can make it appear in your thai bank account as a foreign transfer

Wise is better. But Revolt is not a bad option.

You can just go to the wise site and it will tell you how much it costs

Wise is the clear cut leader. Use revolut, world remit, XE and heaven forbid, your bank or western union only if you are angry with your own money

Wise

Wise👍👍👍

👍👍Wise👍👍

Wise

agree with above Wise> transferred US $1,000 4 days ago from us bank 34.81 rate, took 7 seconds and $7.81 service fee

no fee from SCB.

Wise is simply quicker, not cheaper. Just make sure the deposit shows as coming from an overseas source. This becomes critical for the retirement visa extension, if that is your plan for the future.