WISE - Is this a new feature?

[Gaybutton]

If they have been doing this all along, I never noticed it until now. When I arrange to have my retirement benefit transferred to my Thai bank account, they always let me know the money has been sent and what day it will arrive in my account.

Now they are saying not only that, but what time the money will be sent and what time, specifically, it will arrive in my account.

At the time of this post it is 8:30am in Thailand. I will post again this afternoon and let you know how accurate the times they specify turn out to be. If the time the money will arrive in my account is correct, how do they know?

[Jun]

The last time I sent money with Wise, it was all done in a few minutes.
After paying the money from my UK bank to Wise, I went straight to Kasikorn and by the time I had logged in, the money was there.

[Gaybutton]

My money came in at just the times they said - well, not exactly - both the 10:00 and 14:13 notifications actually came in 10 minutes earlier. For me, knowing when to expect the money to arrive in my account within 10 minutes is something new, so I'm well pleased.

I'm curious, though. How do they know what time the money will arrive in the account?

[Dodger]

I'm curious, though. How do they know what time the money will arrive in the account?

I'm still trying to figure out how they knew when Apollo 11 would arrive on the moon within a tenth of a second after traveling 240,000 miles. The irony is, if you asked a 12 year old school boy he would know...

[Gaybutton]

The irony is, if you asked a 12 year old school boy he would know...

[Jun]

I'm curious, though. How do they know what time the money will arrive in the account?

I don't think they know with 100% certainty. If the receiving bank flags the transaction up for anti money laundering checks, it will be delayed. As I have seen with money coming into the UK.

[Gaybutton]

If the receiving bank flags the transaction up for anti money laundering checks, it will be delayed.

I wish I had enough money coming in each month that would be likely to trigger off that delay . . .

[Jun]

I'm not sure compliance is triggered just by the size of the payment. I had one quite modest transfer from someone else to me in the UK held up as my bank made compliance checks. I answered their questions, then pointed out that this was the same as the last time they checked. I also told them I'd make a formal complaint to the FCA if they stopped it.

I once had a Wise transfer to Thailand held up as they wanted to check the money wasn't for political campaigning. No, I'm not that daft.

[Gaybutton]

Meanwhile, neither of my questions have been answered. I'll try again. Maybe somebody knows.

1. Is this a new feature?

2. How do they know, within a few minutes, what time money will appear in the bank account?

[Jun]

My answer to #2 was they don't KNOW. It's a prediction which will be OK until there's a problem.