abroad. And believe me, they. Once you're comfortable with the system, you can use the iOS or Android app for transfers on the fly. But that's as technical as you need to get. TransferWise is up to 8x cheaper. But even after they've dipped their finger in your honeypot multiple times, the banks still can't promise the money will be there within 48 hours. Most banks take the mid-market rate and apply a margin on top, without being transparent. The process is completed by making several individual conversions using effective market exchange rates that work in your favor. There are readers in the comments section who've received their money to Thailand within 24 hours. 4: Transfer Times, so, you've had your pockets skimmed on all fronts. The mid-market rate isn't a secret either. You could carry money through customs, but then how often do you fly home to be able to do that? We all know banks are generally a rip-off when it comes to sending money, but hiding your money under a mattress isn't exactly a safe bet these days not that it ever has been. In the world's currency markets, traders define the rates at which they are willing to buy or sell a specific currency. In 2018, 1,859,000,000 in remittances was sent from the US to Thailand. Enter TransferWise to Save You Money. So you've already paid twice to transfer your own money, and that's without the currency conversion charge. Com, which is the mid-market rate. It's 3 for the UK (where hitta flickvän 13 år linköping I'm from). So you have no idea how much they're over charging you. You can also check Reuters for comparison. You can offset the loss slightly by choosing to send money in your home currency, but many people sending money to Thailand make the mistake of choosing to convert to Thai Baht at their source bank instead of at the Thai end. The total worldwide is over 5 Billion USD. Check this out: Here is the rate I got from TransferWise on 13th May, 2019 on 1,000 GBP: Yes I know, the Pound is weak and getting weaker. No receiving country bank fee. Now look at the market rate for the same time of day. I know, it's hard to believe, but I'm doing it and so now are hundreds of readers of TheThailandLife. It's just not safe. Usually, my bank (Nationwide) charges. Click that text link back there to get the free gift. The most important thing to know is that the mid-market rate is considered the fairest exchange rate possible. The scale of it is huge.