Sending a larger sum

[ToddyThai]

Hi all,

We potentially have to send around £9k GBP to my wife’s Thai bank. What is our most economical option? She usually uses Wise for much smaller amounts. Someone has also pointed out that transactions over 50k thb are now blocked?

cheers

[Sparktrader]

If you have Bangkok Bank, SCB or another bank which I dont remember, you can still send any amount using Wise as before. 

If your wife's bank isn't either of those three banks, just send 6x a 49,999 THB transaction and you will have your $9,000 transferred. 

 

PS: 9K USD or GBP or whatever isn't really that large, not the point where it would be best to use SWIFT over Wise's THB method. If it was over 1,000,000 THB I would recommend sending USD from Wise using SWIFT. Not in this case.

[JustAnotherExpat]

I wouldn't recommend Wise unless you send it in chunks just under 50k. I use SCB, which is SUPPOSED to be OK for larger amounts, but the instant I go over 25 satang, it chokes. Sure, it eventually transfers, but it takes days.

[Faz]

3 hours ago, ToddyThai said:

Someone has also pointed out that transactions over 50k thb are now blocked?

Only to certain banks with Wise.
Which bank are you wishing to transfer to?

[Faz]

1 hour ago, JustAnotherExpat said:

I wouldn't recommend Wise unless you send it in chunks just under 50k. I use SCB, which is SUPPOSED to be OK for larger amounts, but the instant I go over 25 satang, it chokes. Sure, it eventually transfers, but it takes days.

I sent £10K recently through Wise to Bangkok Bank.
Arrived within 12 hours.

[Faz]

Wise website:

Due to regulatory changes in Thailand, transfers of 50,000 THB and above will only be available for Kasikorn Bank, Bangkok Bank, and Siam Commercial Bank recipients. Effective on 7 January 2022, 1PM Bangkok time. Transfers under 50,000 THB remain unaffected for all supported recipient banks.

[JustAnotherExpat]

17 hours ago, Faz said:

I sent £10K recently through Wise to Bangkok Bank.
Arrived within 12 hours.

Good for you sunshine. I'm just reporting what happened to me.

[Faz]

1 hour ago, JustAnotherExpat said:

Good for you sunshine. I'm just reporting what happened to me.

Fair enough, but you apparently don't appear to understand the reason why your transfer took so long with SCB. It's well documented elsewhere that using 'Wise', Bangkok or Kasikorn Bank is a far more  efficient method due to Wise's partner branches in Thailand.

[ToddyThai]

19 hours ago, Faz said:

Only to certain banks with Wise.
Which bank are you wishing to transfer to?

It’s to Bank of Ayudhya 

[Faz]

18 minutes ago, ToddyThai said:

It’s to Bank of Ayudhya 

Either 9 multiple transactions through 'Wise' of £1,000 per transaction, OR, a direct transfer from UK bank to Thai bank account.

[Sparktrader]

On 3/23/2022 at 10:16 AM, JustAnotherExpat said:

I wouldn't recommend Wise unless you send it in chunks just under 50k. I use SCB, which is SUPPOSED to be OK for larger amounts, but the instant I go over 25 satang, it chokes. Sure, it eventually transfers, but it takes days.

When you are to send the money, Wise gives you an estimation of how long it will take. In my case with Bangkok Bank, sending in chunks up to 49,999 THB it shows in seconds and it does arrive in seconds. 

However if I go even one single baht above 49,999 it shows in X hours and it usually arrives the next day. 

 

Other than that, never had a single issue.