Thread: Any experiences with transferwise money services?

^Copy. Makes sense.

opening a USD account in Thailand is almost impossible now, thanks to FACTA

Best to have a USD account in the US,

Originally Posted by Dragonfly

opening a USD account in Thailand is almost impossible now, thanks to FACTA

Best to have a USD account in the US,

Why would FACTA be of such concern in Thailand? It isn't elsewhere.

Originally Posted by Davis Knowlton

Why would FACTA be of such concern in Thailand? It isn't elsewhere.

it isn't elsewhere ? have you been living in a cave ?

it's a fucking mess, most Thai banks have shutdown USD accounts for US citizens simply because the paperwork to report to the US Treasury was a nightmare and too expensive to be worthwhile

same in France, a lot of US expats got their USD accounts closed, even their EUR accounts closed because the disclosure was making US citizens a liability

I know of at least 3 or 4 cases in Thailand and Europe where USD accounts and accounts for US citizens have been shutdown on that reason.

Originally Posted by Dragonfly

it isn't elsewhere ? have you been living in a cave ?

No asshole, I've been living in the Philippines, where there is no problem with US accounts. Perhaps the Philippines is simply more advanced than Thailand or France.

hopefully Trump will change all that

Originally Posted by Davis Knowlton

No asshole, I've been living in the Philippines, where there is no problem with US accounts. Perhaps the Philippines is simply more advanced than Thailand or France.

you are being all bitchy, as usual. Guess what, the world is not the Philippines. Maybe you should get out more often, and travel in different countries instead of watching TV series all day

The Philippines is where a lot of US military personnel are staged, so that could be an explanation for banks there to accept the paperwork overload

and to compare the Philippines as more advanced than France

you are really living in a different timeline

Originally Posted by Dragonfly

you are being all bitchy, as usual. Guess what, the world is not the Philippines. Maybe you should get out more often, and travel in different countries instead of watching TV series all day

The Philippines is where a lot of US military personnel are staged, so that could be an explanation for banks there to accept the paperwork overload

As usual, you're being a hysterical little queen. There are very few US military personnel in the Philippines. All are on temporary duty status, and none has a reason to have a bank account here.

Originally Posted by Dragonfly

and to compare the Philippines as more advanced than France

you are really living in a different timeline

I lived in France for four years. It sucked. Dirty little backward country full of queers.

Originally Posted by Davis Knowlton

I lived in France for four years. It sucked. Dirty little backward country full of queers.

spoken like a true American redneck

Originally Posted by Davis Knowlton

As usual, you're being a hysterical little queen. There are very few US military personnel in the Philippines. All are on temporary duty status, and none has a reason to have a bank account here.

Well I am sure a few shitty countries like the Philippines love to receive USD from US citizens for their banking operations

Originally Posted by Norton

Probably worth it. You save transfer fee. I have Citi in US and Thailand. Unlike Davis, Citi Thai is baht so $ sent converted to baht. 31.5 as of today.

Ok, thanks.
I'll look into it.

BTW: Do they require you to maintain a minimum balance in THB?
Its PHP1million here for me, but no requirement in my Singapore account.

Originally Posted by TizMe

Do they require you to maintain a minimum balance in THB?

I keep avg of about 500k baht and never a mention of a minimum.
Problem with Citi here is I believe they have only 2 branches.
They must have agreement with other banks cuz no atm transaction no matter what bank's atm i use.

Yeah. That's the same here. Not many branches, but no transaction fees for using any other banks ATMs.

There does seem to be more Citi ATMs around here, at least in Makati and BGC. But I think you'd be pressed to find any outside metro Manila.

So I was taking a look at this TransferWise thingy and it looks pretty good however I note that there doesn't appear to be any option for sending cash / Baht out of Thailand?

It makes sense I suppose given that most are probably looking at doing the reverse from their home country or whatever, but does any one know of a good option for that?

Originally Posted by AntRobertson

It makes sense I suppose given that most are probably looking at doing the reverse from their home country or whatever, but does any one know of a good option for that?

Handy to know in case the missus kicks me out.

I've just been doing bank-to-bank transfers to this point which is easy enough but if there's a way to save on the fees I'm not gonna say no.

Buy bitcoin and send that, quicker and cheaper, or if you hold your breath a while they'll come free with your Kelloggs.

Thanks for that entirely useless and pointless input.

I don't think any bank or service has an online option for sending out. My Bank said have to go in person to my own branch, flat fee of a few hundred baht. So far have not tried it.

My bank does account-to-account transfer via SWIFT although it’s not immediately apparent on the website (and for some reason you must login via PC not the phone app to do so).

Originally Posted by Thai3

I don't think any bank or service has an online option for sending out.

They do but restrictions on amount you can transfer out and transfer fees are charged.

http://www.bangkokbank.com/BangkokBa...fThailand.aspx

I've used Transferwise many times to xfer to my Thai account.

It's easy to do online, the rate is good and the fee is reasonable.

Well I've just hit 'Send' on another transfer and it cost me 350 "Commission Charges", 1,000 "Payment Commission", and 150 "Bahtnet Fee" (whatever the fuckery that is) for a total of THB1,500 and it'll probably take a day or two.

There has to be a better way.