WISE and Apple Pay

[Marc K]

While we are on the subject of money (yeah I know, boring), my landlord informed me yesterday that he is can now accept WISE payments. What is the latest low-down on WISE? I've always looked for an easier (and safer) way to pay my rent but this is the first digital payment method that has been available to me other than doing wire transfers.

Thailand is apparently far behind in the digital money transformation, with Apple Pay (and Android Pay?) still not accepted for purchases. After spending time in Europe this summer and in the South Pacific last spring, I became just so used to zap-zap-zap and its done that I am surprised how weird it is to pay cash for everything here, or even having to haul out a credit card.

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[billyhouston]

I wonder if the lack of Google Wallet, Google Pay as was, and other similar systems is due to an infrastructure problem in Thailand? I seldom come across NFC equipped card readers in Thai stores. In UK we have a £100 limit for 'Tap and Pay' which really is convenient. Fingerprint to unlock the phone, tap the reader and that's it.

If someone gets hold of my credit card they can make limited use of the 'Tap and Pay' facility but, if they get hold of my phone this is not possible as the phone needs to be unlocked, nothing more, to use the facility.

[Andaman!]

[QUOTE=billyhouston;295486In UK we have a £100 limit for 'Tap and Pay' which really is convenient. Fingerprint to unlock the phone, tap the reader and that's it.[/QUOTE]

The £100 limit does not apply to Tap and Pay using a phone enabled with Apple Pay or Google Pay It is only relevant for Tap and Pay using a physical debit or credit card.

[maump]

speaking of Wise... I am considering using wise as a place to store funds in various currencies for future use. exchange rates for thailand, Philippines are near record levels. time to buy Baht and pesos for future travel. wise pays some interest....

if I store money in Wise, in other currencies, I can always transfer back to usd if I want or use it. thoughts? Crazy? use FOREX?

[christianpfc]

I've always looked for an easier (and safer) way to pay my rent but this is the first digital payment method that has been available to me other than doing wire transfers.

Do I understand correctly that you rent an apartment in Thailand full-time, but don't have a Thai bank account and pay rent from your home country's bank, with losses due to fees and unfavorable exchange rates?

I have been using Wise for 10 years to send money from EUR to my THB bank account. It would work just the same to send rent to your landlord's bank account. You could have used Wise all the time, there is no such thing as "my landlord informed me yesterday that he is can now accept WISE payments."

[Marc K]

Do I understand correctly that you rent an apartment in Thailand full-time, but don't have a Thai bank account and pay rent from your home country's bank, with losses due to fees and unfavorable exchange rates?

I have been using Wise for 10 years to send money from EUR to my THB bank account. It would work just the same to send rent to your landlord's bank account. You could have used Wise all the time, there is no such thing as "my landlord informed me yesterday that he is can now accept WISE payments."

Hi Christian,
Thanks for the note. No I don't have a Thai bank account as I only spend a few months a year in Thailand on tourist visas only.
As for my landlord (who happens to be German), he just set up a Wise account recently so that's why he is now saying he cannot accept rent that way.
The question I have is what are the conversion fees for sending Wise payments (Euro->Baht). Presumably the charges are similar for USD->Bant?
Thanks in advance for the info, and yes I do hope Thailand allows more digital payment methods for visitors and expats soon.

[christianpfc]

As for my landlord (who happens to be German), he just set up a Wise account recently so that's why he is now saying he cannot accept rent that way.

The question I have is what are the conversion fees for sending Wise payments (Euro->Baht). Presumably the charges are similar for USD->Bant?

That makes no sense (your landlord setting up a Wise account, irrelevant for rent payment), we are talking about different subjects or you or your landlord have no idea how Wise works.

Similar, look at their website, everything very transparent.