Wise Transfers Days Instead of Minutes

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Jun
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Re: Wise Transfers Days Instead of Minutes

Post by Jun »

In response to your previous post, since it shows 4 days for the money to get from your bank to Wise and then Wise doing the transfer on the same day, wouldn't that be a problem with your bank dithering over payment to Wise ?

I'm not quite sure how it is in the US these days, but about 20 years ago, the UK banks used to take about 4 days for bank transfers, although debit card payments were instant even then.
Then the UK government passed a law requiring instant bank transfers. Which is exactly what we get with online banking.
I gather this is relatively common in other countries, but by no means universal. I'm sure you can enlighten me on the current US situation.

Have you paid Wise with some form of instant transfer ?
If so, what explanation does your bank have ?

billyhouston
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Re: Wise Transfers Days Instead of Minutes

Post by billyhouston »

I've been using (Transfer)Wise, for a good number of years, to transfer sterling in my UK account to Baht in my Thai account and have experienced nothing like this. The most recent was in my Kasikorn account by the time I switched over from the Wise app. Usually between £3000 and £5000 and the reason given was 'to finance my extended stay in Thailand' or something like that. Perhaps it is a function of the initiating country?

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2lz2p
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Re: Wise Transfers Days Instead of Minutes

Post by 2lz2p »

I requested a transfer yesterday for over US$2,000 and rec'd Wise notice this morning along with the link to their receipt that it will be delivered today.
Paid out from
Name Wise US Inc on behalf of #########
Delivered via Local bank transfer
Banking partner Bangkok Bank THB
Banking partner reference #######
I choose the Long Stay in Thailand purpose for sending so it will go to my Bangkok Bank account rather than through another of their partner banks.

Unless it involves an intervening weekend or holiday, it usually arrives about 2pm the following day (the usual time that Bangkok Bank makes my deposits through Wise).

Bangkok Bank always records it as foreign telegraphic fee (code FTT) which I need as I use the monthly income method for extending my retirement stay in Thailand.

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Re: Wise Transfers Days Instead of Minutes

Post by Gaybutton »

2lz2p wrote:
Thu Aug 11, 2022 9:20 am
I choose the Long Stay in Thailand purpose for sending so it will go to my Bangkok Bank account rather than through another of their partner banks.

Unless it involves an intervening weekend or holiday, it usually arrives about 2pm the following day (the usual time that Bangkok Bank makes my deposits through Wise).

Bangkok Bank always records it as foreign telegraphic fee (code FTT)
Exactly the same for me. The only difference for me is I still use the 800,000 baht method for extending my retirement visa. I could easily prove the 65,000 baht per month method, but as much as I would like to feel free to spend that 800,000 as I see fit, I'm afraid to do it in case they change the requirements.

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Re: Wise Transfers Days Instead of Minutes

Post by Pattayamale »

I switched to another company that is cheaper than wise because Wise said I would receive the transfer in seconds but then I received the next notice that it would take longer by 6 days. I too used Wise all the time in the past. But since the company did change hands, I do not find it a good choice no matter what reason I use. It is important as most of us know to see what exchange rate the different services apply.
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Undaunted
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Re: Wise Transfers Days Instead of Minutes

Post by Undaunted »

Pattayamale wrote:
Sat Aug 20, 2022 2:22 pm
I switched to another company that is cheaper than wise becasue Wise said I would receive the transfer in seconds but then I received the next notice that it would take longer by 6 days.
My experience with Wise is the same, what is company you switched to?
"In the land of the blind the one eyed man is king"

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Re: Wise Transfers Days Instead of Minutes

Post by bi-top »

The delay in wire's from Wise seems to have disappeared after the two I mentioned. Perhaps it was related to my bank that is connected to Wise.

However, last week, I had a new problem. After setting up a new wire, I was taken to a page where I had to upload a picture of my face next to my CLEARLY readable passport. Ok, no problem.

Except each time I uploaded what they required, they rejected it - and then cancelled my wire.

The following week, I did it again and my picture was accepted.

Anyone asked for additional verification lately?

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Re: Wise Transfers Days Instead of Minutes

Post by Ruthrieston »

This morning my transfer of me wee pension took a total of seven seconds. Annoying that I must do two transfers as Thailand limits each transfer to 50,000 Baht to my Thai bank. Otherwise I have had no problems in the few years that I have been using Wise. The only addition to verification was a while ago when they send a code to my mobile phone as part of the log in process. Since the exchange rate to the UK pound is so low my income has fallen yet again though. Sigh.

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Re: Wise Transfers Days Instead of Minutes

Post by Undaunted »

My recent Wise transactions have again gone from days to seconds.
"In the land of the blind the one eyed man is king"

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