TransferWise still working well

[Pattaya46]

Another example showing that TW doesn't work so well.

It's a copy of transfer running right now.

(Times are French time, so add 5 hours to get Thai time)

 

Why is TW waiting 14 hours to put my money on my Thai account ???

 

[lopburi3]

11 hours ago, Pattaya46 said:

Another example showing that TW doesn't work so well.

It's a copy of transfer running right now.

(Times are French time, so add 5 hours to get Thai time)

 

Why is TW waiting 14 hours to put my money on my Thai account ???

 

Because it is night here?  It is a local deposit made in Thailand to your account here and at least for USA always done at a set time during operating hours of banks here.

[john terry1001]

16 hours ago, Pattaya46 said:

Another example showing that TW doesn't work so well.

It's a copy of transfer running right now.

(Times are French time, so add 5 hours to get Thai time)

 

Why is TW waiting 14 hours to put my money on my Thai account ???

 

If you complete the transfer before 9:00am THAI TIME it will arrive in your Thai bank account the same day.

 

TW  is not waiting 14 hours. You have transferred at 2:57pm French time, 7:57pm Thai time. The transfer is then waiting with the Thai bank to be processed during banking hours

.

[Pattaya46]

1 hour ago, john terry1001 said:

TW  is not waiting 14 hours. You have transferred at 2:57pm French time, 7:57pm Thai time. The transfer is then waiting with the Thai bank to be processed during banking hours

No. Must be other reasons as I already had TW transfers arriving on my Thai account during Thai night.

This transfer just arrived a few minutes ago. It tooks 5 more hours after their paiement to put the money on my account, and everyone know that a transfer interbanks in Thailand is "instant transfer".

I am just persuaded that TW make these delays to try to find the best exchange rate for them to increase their profit. 18+ hours... ????

 

[treetops]

18 hours ago, Pattaya46 said:

Another example showing that TW doesn't work so well.

It's a copy of transfer running right now.

(Times are French time, so add 5 hours to get Thai time)

 

Why is TW waiting 14 hours to put my money on my Thai account ???

Method of payment to TW, Thai receiving bank and reason for transfer can all affect time taken too.

[sumrit]

8 minutes ago, Pattaya46 said:

No. Must be other reasons as I already had TW transfers arriving on my Thai account during Thai night.

This transfer just arrived a few minutes ago. It tooks nearly 6 more hours (after the 14) to put the money on my account, and everyone know that a transfer interbanks in Thailand is "instant transfer".

I am just persuaded that TW make these delays to try to find the best exchange rate for them to increase their profit. 20 hours... ????

 

 

If you look at TW's terms they will guarantee next (working) day transfer.......but:

 

Some (most) of us who use TW have spent time checking and finding out when transfers are likely to arrive in Thailand and have found that. if you complete a transfer before 9:00am Thai time (Mon-Fri), 4:00am France time, (and use the correct reason for transfer plus use one of TW's three Thai partner banks) it will arrive in your Thai bank the same day. If you initiate the transfer outside that time window it's likely to arrive on the next working day (time of day is not specified).

 

If we require a same day transfer we abide by those rules and it works for us (almost) all the time. If we are happy to have the transfer completed by the next working day there is no restriction on the time of day when we initiate the transfer.

 

You, obviously, are quite happy for your transfer to arrive the next working day because you didn't initiate the transfer until 2:57pm France time, which is 7:57pm Thai time, around ELEVEN hours after the cut off time to expect a same day transfer.

 

If you require a same day transfer I would suggest you use the same time constraints the rest of us happily abide by.

 

If you can't do that, maybe TW is not for you. Find another bank/finance house that is more efficient and offers a better exchange rate. 

[superatoz]

can i ask if the rates are better then normal bank transfer ?

 

never used it before , how does it work

[sumrit]

14 minutes ago, superatoz said:

can i ask if the rates are better then normal bank transfer ?

 

never used it before , how does it work

Yes, and they guarantee the rate they quote.

 

Have a look: https://transferwise.com/?utm_source=invite&utm_medium=ios&utm_content=&utm_campaign=3for50

[superatoz]

48 minutes ago, sumrit said:

Yes, and they guarantee the rate they quote.

 

Have a look: https://transferwise.com/?utm_source=invite&utm_medium=ios&utm_content=&utm_campaign=3for50

thanks , not sure why but its showing 6 days to transfer ? 

[treetops]

Just now, superatoz said:

thanks , not sure why but its showing 6 days to transfer ? 

Long holiday weekend.

[superatoz]

3 minutes ago, treetops said:

Long holiday weekend.

ok thanks alot !

[DrDave]

3 hours ago, treetops said:

Long holiday weekend.

Correct!  I initiated a transfer from the US this morning (Apr 30), and the web page noted that May 1 and May 4 were national holidays, so the transfer would be delayed by 5 days.  Once initiated, the status update says the transfer will be paid out on May 4, which really doesn't make a lot of sense because May 4 is also a Thai holiday.  Also, I'm not sure why it wouldn't be paid out over the weekend. Does Transferwise not make deposits into Thai bank accounts on weekends?

[KhunBENQ]

Similar experience for me.

Just initiated a Euro transfer from my (Belgian) TW account.

Expected to be paid on May 5.

Fortunately I don't care if the rate/amount is fixed/frozen.

 

I noticed that since 2 days or so the guarantee time span for the Euro(!) rate is 120 hours! 6 days! Never seen this before.

 

 

[sumrit]

28 minutes ago, DrDave said:

Does Transferwise not make deposits into Thai bank accounts on weekends?

No, any transfer initiated over the weekend is held over till the Monday (or next working day)

[Pib]

Bad time to be doing international transfers with 1 & 4 May (and 6 May) being banking holidays in Thailand.  Throw in the weekend of 2-3 May and that leaves only 5 May for money to arrive before the 7th when the banking holidays are over for a while.

 

https://www.bot.or.th/English/FinancialInstitutions/FIholiday/Pages/2020.aspx

[Eibot]

On 4/29/2020 at 8:34 PM, Pattaya46 said:

Another example showing that TW doesn't work so well.

It's a copy of transfer running right now.

(Times are French time, so add 5 hours to get Thai time)

 

Why is TW waiting 14 hours to put my money on my Thai account ???

 

It's Corona time, and still faster and cheaper than the bank...

[jacko45k]

On 4/30/2020 at 2:31 PM, Pattaya46 said:

No. Must be other reasons as I already had TW transfers arriving on my Thai account during Thai night.

I never ever have. Usually 9am. 

[Andycoops]

I did a transfer last Thursday 30th at 8am from the UK and the money was in my account at 10.30am.

[john terry1001]

On 4/30/2020 at 2:31 PM, Pattaya46 said:

No. Must be other reasons as I already had TW transfers arriving on my Thai account during Thai night.

This transfer just arrived a few minutes ago. It tooks 5 more hours after their paiement to put the money on my account, and everyone know that a transfer interbanks in Thailand is "instant transfer". 

I am just persuaded that TW make these delays to try to find the best exchange rate for them to increase their profit. 18+ hours... ????

 

TW complete transfers at the time they say but the Thai bank will update foreign transfers into individual accounts at certain times of the day, it wont show as instant in your account as it's not a Thai Interbank transfer. eg: regardless of when TW transfers into my Bangkok Bank account the bank will always update my account at 2:00pm so it can show as a varying delay between the TW 'SENT' time and the time shown on my bank statement.

 

As an example:

1. I initiated a transfer last Friday, 1-5-20 at 6:45am (Thai time).

2. I was informed immediately by TW that, because of Thai national holidays, the Thai banking system wasn't available over the extended weekend, they couldn't complete my transfer until Tuesday 5-5-20. I accepted that, then received the first confirmation email almost immediately.

3. At 8:44am (Thai time) today 5-5-20 I received an email from TW to confirm the money had been sent to my Bangkok bank and would be available today. I expect that to show in my account at 2:00pm this afternoon as it always does.

 

And as for your (best for TW) exchange rate theory:

When I initiated the transfer at 6:45am on Friday the rate was 40.8468 baht/GBP. But, as usual with the GBP, the rate dropped later that day to around 40.05 and stayed low all weekend.

When I received my confirmation email this morning it confirmed I would get the 40.8468 bagt/GBP rate of Friday am. 

SO TRANSFERWISE DEFINITELY DON'T DELAY TRANSFERS AND CHOOSE A RATE TO BENEFIT THEM. They give you the live rate available at the time you initiate the transfer.