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Dario

Xendpay - Free money transfers to TH - Anyone used it yet?

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Hi all,

let's forget about Transferwise, good exchange rates but transfer fees at now at 1.5% what you transfer to Thailand...

I just stumbled on another money transfer company which calls itself:

Xendpay - The world's first free money transfer service!

Well free is great, their exchange rates are equal to Transferwise, but you can decide on what fee you want them to charge you, that fee can be 0.00%.

Check it out at www.xendpay.com

My question is: has anyone ever transferred with them? If yes, how reliable are they on their free transfer promise and on the speed of transfer? They seem to be in business since 2012. So they're not a new kid on the block.

I would just like to add: If you send cash money from your bank abroad to your bank account in Thailand(no credit cards involved) your money is transferred the day Xendpay receives your money in their European account and they say it takes 3 days to receive your money in Thailand. So, if you transfer out on Monday (before 12:00 your banks time) it should arrive Xendpay on Tuesday and they would send it out to your Thai bank the same day. Arrival in your Thai bank account Thursday. You can send as little as 1£, 1$ or 1 Euro. I will do that.

Edited by Dario

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I did find a review of a customer who transferred a large amount of Euros to Thailand which is very good. The review can be found here, you have to go maybe 5 pages far. Anyway the review is very good, I made a screenshot, so you can see it for yourself:

post-5472-0-55853900-1440346820_thumb.pn

It says in English:

Top Transfer! You can transfer your money with confidence.

I have just transferred 6000 euros to Thailand bank to bank (France > Thailand).

Promise fulfilled! Exchange rate superior to other sites, fee more than reasonable Time: 3 days!

I have called their hotline only once, you can speak English or French, the answers are precise.

I will more than ever recommend this site.

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Used it 3 or 4 time that year.

Not the fastest transfer (needed about 4-5 working days), but the best rate I got so far.

I save about 14 Euros which my home-bank would charge me and the Xendpay Exchange-rate is also better.
Now I make a local transfer to a Xendpay-Account and they send it to my Thai-account.

You get the Baht-amount they show you when you start the transfer, maybe less 200 Baht (maximum fee) the Thai-bank charges you

(the last time Bangkok-Bank didn't deduct anything ???).

One time i initiated a transfer to Thailand and sent the Euros to them, but the next day I saw a much better transfer-rate.
I started a second Xendpay-transfer with the same Euro-amount but didn't send the money this time, instead called them to cancel the first transfer and use the money (which was still on the way to them) for the second one with the better rate. The guy from the helpline cancelled the first transfer without any problem and I received more Thai-Baht.

Will use them again and therefore can recommend Xendpay - if you can wait about 1 week (including weekend) for the money to arrive.

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Somewhere along the line they ding you mostly in the exchange rate.

You are right for many of this money-transfer providers.

But Xendpay gives you the shown rate from the moment you initiate the transfer, no matter what is happening to the exchage-rate in the following 4-5 days (until the money arrives). This can be good or not so good - depends on the changes in the exchange-rate until arrival. But at least the amount is guaranteed and the exchange-rate (incl. fees from the competitors) is the best I got so far.

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I would like to thank you all for your input! Great, it seems Xendpay is reliable and I don't mind 4-5 days for a transfer. At the end of the line, 1) I transfer for free and 2) I get a much better transfer rate than almost anywhere else. Transferwise now charges a 1.5% fee to Thailand and with Xendpay if you opt to pay 0.0% i'tll be just that.

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used it, wouldnt use them again...not as good a rate as Transferwise and their customer service leaves a lot to be desired. lost one payment take an age to sort out and over a month to answer queries as why i didnt get the rate they said they would send. At least with transferwise the rate on exchange is locked in and still cheaper than my bank to send around 1200 GBP monthly.

What it comes down to is what you're happy with.

Edited by Expattaff1308

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I did find a review of a customer who transferred a large amount of Euros to Thailand which is very good. The review can be found here, you have to go maybe 5 pages far. Anyway the review is very good, I made a screenshot, so you can see it for yourself:

attachicon.gifuk.trustpilot review.png

It says in English:

Top Transfer! You can transfer your money with confidence.

I have just transferred 6000 euros to Thailand bank to bank (France > Thailand).

Promise fulfilled! Exchange rate superior to other sites, fee more than reasonable Time: 3 days!

I have called their hotline only once, you can speak English or French, the answers are precise.

I will more than ever recommend this site.

Unfortunately, genuine negative reviews tend to disappear from the Trustpilot site completely, or gets overun by an exodus of "positive" reviews. There is no way of filtering for negative reviews only.

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So would someone please give me an example of their trade and what was the mid market rate (xe.com rate would do) at the time of the deal. Also what did you 'give' them for the deal. I have to admit that I loose about 0.7thb from the mid market rate when I deal through Moneybrokers ... but I don't get any charges except 100thb this end. I send 10KGBP worth of thb each transfer.

And what documents did you have to supply to open your account.

Edited by JAS21

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So would someone please give me an example of their trade and what was the mid market rate (xe.com rate would do) at the time of the deal. Also what did you 'give' them for the deal. I have to admit that I loose about 0.7thb from the mid market rate when I deal through Moneybrokers ... but I don't get any charges except 100thb this end. I send 10KGBP worth of thb each transfer.

And what documents did you have to supply to open your account.

I used my passport & pension letter from the British Embassy https://secure.xendpay.com/signup/ur/E368103

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I Used Xendpay for the first time last week.

I sent 3k Euros via Xendpay and 3k Euros direct from my Lloyds offshore account to my Bangkok Bank account so I could compare the two.

With Xendpay I received 114,135 THB and with the direct bank transfer it cleared as 111,463 THB, the direct bank transfer arrived 1 day earlier than Xendpay.

The XE mid market rate was around 38.05 when I did the transfer and Xendpay gave me 38.045 which is the closest I have ever gotten to the mid market rate on a transfer. The whole process with Xendpay took 2 days.

I had read some bad reviews for Xendpay and was a little dubious using them but thought i'd give it a try with a low amount. Some people stated they had been waiting over 2 weeks for their transfer and complained of poor customer service.

All in all I was happy with the service and by far the best rate available.

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They convert euros to baht...and then send the baht for free?

I see XE will debit my usd account for free....but after converting to baht (locking in rate/real time) then is one other step where they wire the baht to a baht account (my wife's) in Thailand.

21 usd. 5 to 7 working days.

Dont see where I can use Xendpay (converting usd in usa and sending for free to a thai baht bank acct)....

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They convert euros to baht...and then send the baht for free?

I see XE will debit my usd account for free....but after converting to baht (locking in rate/real time) then is one other step where they wire the baht to a baht account (my wife's) in Thailand.

21 usd. 5 to 7 working days.

Dont see where I can use Xendpay (converting usd in usa and sending for free to a thai baht bank acct)....

Yes, I sent the Euros from my Offshore Bank account to Xendpay Euro account (no fees), they then converted it to THB then forwarded it to my Bangkok Bank in Thailand....there is an option to pay a fee, (states to keep costs low and exchange rates good) but it is up to you how much you pay if anything....they gave a free gift of 10 euros for my first transfer so I opted to use that as the fee.

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They convert euros to baht...and then send the baht for free?

I see XE will debit my usd account for free....but after converting to baht (locking in rate/real time) then is one other step where they wire the baht to a baht account (my wife's) in Thailand.

21 usd. 5 to 7 working days.

Dont see where I can use Xendpay (converting usd in usa and sending for free to a thai baht bank acct)....

Yes, I sent the Euros from my Offshore Bank account to Xendpay Euro account (no fees), they then converted it to THB then forwarded it to my Bangkok Bank in Thailand....there is an option to pay a fee, (states to keep costs low and exchange rates good) but it is up to you how much you pay if anything....they gave a free gift of 10 euros for my first transfer so I opted to use that as the fee.

Giving mid market rate, even on small amounts like 3000Euros and no fee ...sounds wonderful.

I looked at a transfer ...they offered mid market rate shown by xe.com and yes a suggested fee. All inclusive it would have condiderably bettered my usual transfer method. Assuming my Thai bank would just charge the usual 100thb although sometimes BB don't charge me anything ...CIMB always charge me 100thb.

I'll register today.

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BANGKOK 12 December 2017 02:10
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