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- Cornelis: See also: https://www.maxmeldpunt.nl/topic/korting-pensioen-abp-na-hertrouwen/#
- Cornelis: It is indeed true that ABP is the only one to reduce your pension in the situation mentioned. The catchphrase of the ABP website: You get
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Home » Reader question » Sending money with WorldRemit or Wise?
Sending money with WorldRemit or Wise?
Dear readers,
I keep reading things here about sending money with Wise. I have been sending money to the Philippines with WorldRemit for years and it is fast and cheaper than Wise, I think. Why isn't this well known here? Maybe WR doesn't work for sending money to Thailand or something?
In the Philippines you can send by name as well as to a bank account. With Cash Receive, the beneficiary can collect the money at an institution selected by the sender; in my case it is Cebuana because my beneficiary does not have a bank account.
I also read at Wise that instead of a bank account, money can also be sent to a Mobile Wallet, but I have no experience with that yet. Maybe someone here can help?
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I work with Remitly. Works very fast. To Thailand, the amount will be in the bank there within 10 minutes.
Costs per transaction € 3,00. Maximum € 1300,00 per transaction.
Hallo,
On site in 10 minutes you say? With wise in a few seconds. I always send money with Wise. There are no cheaper ones.
Speed is unimportant! what difference does it make whether it takes seconds or minutes? more important is the currency conversion and the reliability and costs
I DO think speed is important, if my girlfriend and I decide to make a larger purchase and the store does not accept a credit card, I can easily send THB to her account at the checkout with Wise THB.
You won't get a better rate than with Wise anywhere, perhaps lower transaction costs, but in the end it comes down to how many euros you spend for your THB, and Wise cannot be beat.
Dear, Wise is cheaper than WR and is also accepted by a special code by immigration. It is also very fast with always the best exchange rate.
Sorry Franky, I did a comparison and Wise was 1 euro more expensive than WorldRemit for an amount of about 120 euros.
With small amounts, Wise is sometimes indeed more expensive, but usually Wise is the cheaper solution.
But if you want to transfer a large amount, it doesn't hurt to first check what the difference is.
Who would transfer such small amounts? And pay transfer costs again and again. And then you compare this to Wise? That's nonsense.
I regularly do a comparison and Wise ALWAYS comes out as the most affordable.
If the recipient does not have a bank account, it is easier to send cash, but I don't find Wise's “wallet” that easy. That's much easier with WorlRemit and others.
The transfer costs are low, that's right. However, the exchange rate is so bad that Wise is a better choice.
The mobile wallet is very handy.
If you have an account with Wise, you can store money in 46 different currencies in the Wise app, including Philippine Pesos.
If you transfer money with your own bank app to the Wise Wallet, you also have a lower fee than when you transfer money to another bank account outside Wise.
You can also activate the Apple or Google payment app via the Wise app. In Thailand I use ApplePay with my phone for all contactless payments, for example at the 7-11.
It works like this; I put 10.000THB on my wallet via my ABN ideal app. I activate ApplePay, select the Wise card, hold the device against the payment device and the groceries are paid for. Without a fee as is usual with credit cards.
Used Worldremit for years to transfer money to a Thai bank account, almost always without any problems. Transaction costs have varied considerably in those years from approximately EUR 2 to almost EUR 4 or 5 per transaction. Then there is the exchange rate; every amount must earn something 'somewhere' from their services, so I expect that will be discounted in the exchange rate. I can't possibly say whether it is more expensive or cheaper than Wise, as I have never used Wise. In all those years, I have only had a problem with less than a handful of transactions (e.g. it took longer than expected), but even a physical bank sometimes experiences disruptions in payment transactions. For a good comparison, you would have to calculate which is the cheapest for both at exactly the same time with the same amount. And that will probably remain a snapshot. The biggest question should be: which of the two is more reliable. the safest to use.
Most reliable, safest AND also easiest to use, in my opinion.
Used it myself in Wise, no experience with WR
I think the providers of these types of services are all reliable.
It is therefore very important who is the cheapest, and with more serious amounts, the transaction costs usually do not really make the difference, but the rate used.
I leave the calculation of what is the most affordable to the app in question.
If an app cannot tell me in advance what will be debited from my account in euros to buy a set number of THB, the app will fail anyway. I want to know in advance what I have lost.
Wise is usually the cheapest, occasionally Remitly.
I have also noticed at Wise that exactly the requested amount is always credited to the Thai account. I have experienced with other service providers that the Thai bank still charged costs.
I have heard several times that you can also use those companies to transfer money to yourself, from Belgium to Thailand, for example.
Now I always withdraw money via Visa during my longer stays, but that will certainly be more expensive? Is that right?
How does it work to transfer money to yourself?
Alphonse, that's exactly the same because you do it on a computer, by the way, I've done that before, but I think it was with Western Union and without a problem. You send to a person of your own choosing. Who cares who? That won't matter to that company haha as long as they make money...
You can enter Thai bank account numbers and the name of the account holder in your wise account via app or online. So enter your Thai bank account number and enter your name as known to that Thai bank. Do you have 2 banks in Thailand or 3 or 4: Wise doesn't care.
Withdrawing money via your Visa is probably more expensive than using Wise.
However, it may differ per Visa and Mastercard, the cards from Revolut, N26 and Openbank generally have the best rates.
You can also get a Visa card from Wise with which you can withdraw money from an ATM, for example