Send US$ Via OFX to BK Bank

[smo]

I finally "launched" my 1st usd transfer from my US bank account to my BKB account using OFX (OzForex.) After going through the initial profile setup, I clicked on "New Transfer" and immediately got a "Oops Something went wrong." So I called OFX customer service (friendly and helpful but prepare to tune your ears to Ozzie accent) who talked me through the process. However one more step still needed, a micro-deposit to reach my US account. Two days later ie today that happened so this morning I went ahead and wrapped up my transfer. Customer service called me on the phone immediately to re-confirmed the transaction, adding that the funds will be held by OXF for 3 business days before they could transfer it and the transfer itself would take another 2-5 days to reach my BKB account.
 
I'm curious to know if that's normal waiting time for a transfer done with OFX? From what I've learned on other threads, a transfer made with Transferwise would take less than 2 days from the time you click "Confirm" to when you receive notification that the money has arrived in your Thai account. (The reason I haven't used Transferwise is because I fumbled a bit during the setting up process with them and right now I'm still at the stage of waiting for their 2 micro-deposits to reach my US account.)

[topt]

21 hours ago, smo said:

adding that the funds will be held by OXF for 3 business days before they could transfer it

Did you ask them why?

Seems unusual in this day and age.......unless only for the first transfer?

[Pib]

When funding an OFX transfer via "ACH" OFX applies a 3 day hold time to ensure the funds clear....just like how bank will many times will deposit a check but place the funds on hold for X-days until the check clears and then the funds become fully available.

 

OFX will tell you they require 1 day to initiate pull of the funds via ACH and then a 3 day hold time....but that 1 day to initiate pull of the funds seems to blur into the 3 day hold period.  My experience with OFX based on two transfers it will take 4 business days for the funds to post to your Thai bank account.

 

Summary: OFX utilizes a 3 day ACH hold/clearing period which Transferwise does not.