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AmandaJo

International Money Transfers Fees so expensive

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Filed: Other Country: Thailand
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Hello everybody!

 

I'm not happy with the money transfer fees. So, I'm trying to find a cheaper way to send money. I was thinking to send in Bitcoin. I know there are some people already using Bitcoin and they're OK with that. Do you send Bitcoin to your family or related? 

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10 minutes ago, AmandaJo said:

Hello everybody!

 

I'm not happy with the money transfer fees. So, I'm trying to find a cheaper way to send money. I was thinking to send in Bitcoin. I know there are some people already using Bitcoin and they're OK with that. Do you send Bitcoin to your family or related? 

Bitcoin transfer and exchange fees are high, too...


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26 minutes ago, AmandaJo said:

No, my friends send Bitcoin without paying any fees. But I don't know about exchange fees.

The exchange fees and not to mention the fees that a broker charges you to buy/sell bitcoin. 

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Filed: Other Country: Thailand
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3 minutes ago, Cyberfx1024 said:

The exchange fees and not to mention the fees that a broker charges you to buy/sell bitcoin. 

 

If I send USD to Thailand. there are exchange fees to because my family needs to exchange it to use. Also, money services like WU and moneygram charges you up to 10-15% fees and costs. So are you OK with that? 

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4 minutes ago, AmandaJo said:

 

If I send USD to Thailand. there are exchange fees to because my family needs to exchange it to use. Also, money services like WU and moneygram charges you up to 10-15% fees and costs. So are you OK with that? 

I am not ok with it but I do it regardless when we send money back to the Philippines. You can use different services to send money like Xoom, WU, they charge a fee of $5.00 on the whole transaction. I have never heard of WU or MG charging a 10-15% fee on the transaction, I know WU used to be bad when trying to send money online but not that bad.

 

So if I send $200 there is a $5.99 charge on that. 

Edited by Cyberfx1024

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3 minutes ago, AmandaJo said:

 

If I send USD to Thailand. there are exchange fees to because my family needs to exchange it to use. Also, money services like WU and moneygram charges you up to 10-15% fees and costs. So are you OK with that? 

Bank wire would be less expensive.


"What I am to be, I am now becoming" - Ben Franklin         

 

      :idea:MSC (National Benefits Center) I-751 filers- Please add your data :idea:                          https://docs.google.com/spreadsheets/d/1Id1duRRByZHJmhEzl9N25GqwzcnUyLCR4e4N9W6zGLg/edit#gid=0

 

Retired 20 year US Air Force Missileer (Retired E-8)

Retired Registered Nurse with practice in Labor/Delivery, Home Health, Adolescent Psych, Adult Psych

Retired IT Professional, Software Developer, Database Manager

 

 

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Filed: Other Country: Thailand
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2 minutes ago, Cyberfx1024 said:

I am not ok with it but I do it regardless when we send money back to the Philippines. You can use different services to send money like Xoom, WU, they charge a fee of $5.00 on the whole transaction. I have never heard of WU or MG charging a 10-15% fee on the transaction, I know WU used to be bad when trying to send money online but not that bad.

Here's the World Bank's Remittance Data between US to Thailand. 
https://remittanceprices.worldbank.org/en/corridor/United-States/Thailand 

 

Those money services doesn't charge 5$. 

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2 minutes ago, AmandaJo said:

Here's the World Bank's Remittance Data between US to Thailand. 
https://remittanceprices.worldbank.org/en/corridor/United-States/Thailand 

 

Those money services doesn't charge 5$. 

I just checked on Xoom and they are offering this right now for the exchange rate 1 USD = 29.3508 THB*. Also the fees are below for sending $100:

 

Paying with Fee in USD
Bank account 4.99
Debit card 5.99
Credit card† 5.99

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Filed: Other Country: Thailand
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5 minutes ago, Cyberfx1024 said:

I just checked on Xoom and they are offering this right now for the exchange rate 1 USD = 29.3508 THB*. Also the fees are below for sending $100:

 

Paying with Fee in USD
Bank account 4.99
Debit card 5.99
Credit card† 5.99

It's about 9% in total(echange rates + fees). Still high for small amounts. Also, I will send in cash.

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1 minute ago, AmandaJo said:

It's about 9% in total(echange rates + fees). Still high for small amounts. Also, I will send in cash.

Then if you send cash like that then the only two companies I know that do that are MG and WU. So a bank transfer would be cheaper. 

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Filed: AOS (apr) Country: Australia
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I use Transferwise, just an alternative option I've had success with.


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Filed: IR-1/CR-1 Visa Country: Israel
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There are also cheaper cryptos than bitcoin, not to mention faster. 


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Filed: AOS (apr) Country: Canada
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we used (still do) transferwise


i 485, 130, EAD and AP

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DONE FOR TWO YEARS!!! ;)

 

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