WISE - Is this a new feature?

[DragonMaster]

Perhaps the easy way to get an answer to this burning question, would be to ask Wise directly instead of asking board members for a speculative answer.

There are at least two methods used by Wise to distribute money to your account. If the amount is less than $1500, Wise has agreements with partner banks in Thailand, who pays out the funds on Wise’s behalf which is why you will see transfer from another bank on your statement. Amounts usually arrive within minutes or seconds of the transfer request. For larger amounts, over $1500, the transfer goes through SWIFT. Those telegraphic transfers are received at the Thai bank and reconciled at a certain time every day.

For Bangkok Bank, they are reconciled and posted every day at 2pm local time. Sometimes you might see the deposit 5 or 10 minutes later depending on the volume. Other banks in Thailand may have different times to process international transactions. Recently, some US banks have entered into B2B agreements with The Bank of Thailand which shortcuts the normal SWIFT transfer times. Bank of America for example can complete a transfer to Bangkok Bank within 5 hours. I believe Kasikorn has the same arrangement.

There is another topic posted on this board regarding banks reporting expat account holders information to the IRS in the US. This is nothing new. US law requires any foreign bank who is doing business in the US, to report US citizens account info to the IRS as a condition of doing business in the US. Both Bangkok Bank and Kasikorn Bank have branches in the US and must comply with this requirement.

[Gaybutton]

Perhaps the easy way to get an answer to this burning question, would be to ask Wise directly

"Silly - it never occurred to me."
- Jack Hawkins (Major Warden), 'The Bridge on the River Kwai'

No need to ask WISE now. You seem to know how it's done. Your answer is good enough for me.

[Jun]

My last transfer was several thousand pounds and arrived as fast as I could log on to Kasikorn to check.

[DragonMaster]

My last transfer was several thousand pounds and arrived as fast as I could log on to Kasikorn to check.

Of course it did.

The info I gave is based on United States banking information. WISE is based in the UK and is governed by different rules. Also Kasikorn does business in the UK and probably can expedite transfers from the UK.