Anyone used "Transferwise"

C

ColinW

Surin relic
I came across this Company for transferring cash.

It seems a good deal but I have always have at the back of my mind "if something is too good to be true etc "

Has anyone experience of using this Company?
 
Well Colin....................having transferred money for the past 4 years from the U.K. I have experimented with several "vehicles" and have now settled for
World First.
Maybe do a direct comparison, because as I am sure you have discovered they all take with one hand and give with the other. (Charges/ Transfer rates etc)
World First have no charges, and from my experience, has competitive transfer rates, with a time of 2 to three days maximum to get into your Thailand Bank.
They have moved the goalposts since I started using them though, from a minimum of £250 transfer to £1000, so maybe another thing to factor in.
If you do go down the Transfer wise toute, would be interested in your experience with them.
 
HiFX for me . Never a problem having used over a dozen times , but will check Worldfirst (thanks for the info Smithy). Easy website. 24 hours. Comparable with Santander UK bank for end result in Thai Baht. Usually 3 working days, occasionally 4
 
Hi Colin, I have used Transferwise once. Money transfer from Finland to thai bank account (SCB) took maybe three days. It was 6 months ago.
Very cheap and quick.
 
I have mentioned it before, but I now use xendpay, you get the rate that you see on XE website (much higher than tourist rates). You then decide how much to pay in fees. They make a suggestion it is up to you what you pay. If you pay what they recommend the money is transferred very quickly. I just sent 1300 pounds and it was in my Bangkok Bank account ready to use in less than 24 hours!! But 2-3 days is more usual. Couldn't be happier.
 
Thanks everyone.
I decided to try Transferwise last Friday sending 2000 GBP.
My first transfer was free of charges and used a rate of 50.4 which was about 1.00 better than Torfx which is the company I normally use.
Transferwise say the money should be in my Thai Bank on Wednesday (23rd).
Next time when I have to pay charges I will have a better comparison.
Adam, I would be a bit concerned about Xendpay going by their rating in Smithy's link but as you say you are happy with them.
 
Yes Colin sounds about right.
When you start paying fees, you will be able to get a more accurate comparison to others.
As mentioned in previous post
World First do not charge fees, but of course drop the rate a little to compensate.
Keep us posted.
 
I saw the rating for Xendpay, I think it is possibly an rather old article (I am not sure). I have used Xendpay now for nearly a year transferring money at least once a month and have had no problems what so ever. I think the problem is that if you do choose to pay nothing for the service, the money is slow to arrive, I bet that is where the poor ratings come from. Cheap charlies who want something for nothing and then complain when it takes time.

I would recommend xendpay to anyone, but it would seem there are plenty of companies out there in this business, so there is lots of choice.
 
[Side note to Adam: You may want to change your "We're going down" motiff...unless you were strictly claivoyent.
Being relegated out of Premier is surely not what you were hoping on this season for such a storied club. Sorry , Adam.]
 
Coffee, Villa are going down! I changed this motif a long time ago (around October I think), I just haven't posted that much since.
 
ColinW said:
My remittance was in my Thai bank this afternoon, a day earlier than they had said.
Click to expand...
ColinW said:
My remittance was in my Thai bank this afternoon, a day earlier than they had said.
Click to expand...
Glad to hear that Colin...................TransferWise is one I will look at in the future, as well as all the others mentioned in the thread.
It is easy to become complacent, and assume "you" are getting the best deal.
 
Just an update.............having seen Adam's recommendation for Xendpay, I decided to research and then give them a go.
I have now done two transfers to my daughter from the U.K., and the recent one arrived the following day.
More than happy, because unlike "World First" and many other companies, they do not have a minimum sum.
This is good for me, as with my daughter about to embark on University life, I am sure their will be many "incidentals" I suddenly have to send !!!!
The rate is very competitive, and the fee ( if you decide to pay the suggested amount) is 1% of transfer.
They have an I Phone App which I have used, and it works fine, but the only slight quibble I would have is that notification of funds being in recipient banks seems to be about 24 hours late. However I got my daughter to go on line with Bangkok Bank, and she can now let me know as soon as money is in.
The companies mantle of free transfers is not quite correct now however, as recently they have put in a clause that states that after transferring £2000 or the equivalent within one year, fees are applied, and I feel more comfortable with paying the 1 % transfer fee, as I am sure that will get prioritised over the free-bee merchants.
Anyway.... thought I would pass on my experience, and thank all in this thread for the valuable information regarding transfers.
 
Another update......I'm happy with HiFX who I have used successfully for many years but want another option
Yesterday I applied for and joined World First. An hour later I had a call from their office saying I couldn't use their facility. The phone line wasn't clever so I emailed their admin and received the following reply
'
Hi xxxxx,


Thank you for your email.


Unfortunately, as you spend the majority of your time in Thailand, we cannot help you with your transfer requirements because we do not have a trading licence to on board clients in that jurisdiction.


We are constantly working on our licensing expansion and if we acquire a trading license in Thailand in the future, we will endeavour to notify you.


My apologies again for any inconvenience caused.


Kind regards........,'

So I'm back to square one. I can use any of the comparison sites but would appreciate any info that may spare me wasting my time on companies with restrictions
 
I have used Smartcurrency. No charges and good rates, they need to speak directly with you for your first transfer, after that just email for quote, i am sure you can agree a quote today for a transfer up to 6 months in advance but you would need to check that with them.
 
Just completed our first transfer with Azimo. They needed a scanned copy of my passport, and also phoned me
before they would complete the the transfer. The guy explained that this would only happen with the first one.
First transfer free, after that £1.00 good exchange rate. Also informed when the money had been deposited in the Thai bank.
 
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