Transferwise - Funds Arriving From my Bank Seem to Take Longer in the Past Month

[PMZ]

I have been using Transferwise very happily for several years now, mostly moving money into Thailand (from Singapore). I also move money from Singapore to the UK, which in the past, has often taken only 'minutes' to arrive.

In the past month or so, I have noticed that there is a significant and ever-increasing delay in the funds arriving from my Bank into Transferwise. I took this up with my Bank and Transferwise two times now and in both instances, the Bank has proven the transfer timing yet Transferwise has not really answered with any clarity.

I made a transfer to Thailand last night. and this morning, thirteen hours later, the money still had not registered into Transferwise. I checked with my Bank and wrote to Transferwise, with transfer times and reference. Within minutes the funds arrived. Coincidence?

Has anybody else noticed this issue in the past two months? Or, maybe I am indeed having an issue with my Bank (I was initially wondering if the Bank was slowing down transfers to Transferwise, because of the strong competition?).

Interested to know the experience of others...

[OJAS]

Suspect that this is purely an issue with your Singaporean bank. Doubt whether TransferWise will be able to provide you with meaningful assistance.

[Stocky]

I transfer monies with TransferWise from Singapore to Thailand and have seen no problems, if anything it's getting quicker. Making a transfer from HSBC to TransferWise in the morning using FAST, the money will be deposited in my Krungsri account in Bangkok about 4hrs later.

 

Which method are you using to transfer between banks in Singapore?

 

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Edited March 6, 2020 by Stocky

[Stocky]

Transfer of funds today was all done within 1 minute time stamps on SMS messages from HSBC Singapore, TransferWise, and Krungsri all the same 11:08.

 

It's slower (4hrs) if I tag 'Funds for long term stay in Thailand' as it goes via Bangkok Bank IIRC. Tagged as 'Monthly living expenses' the transfer is almost instantaneous.

 

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Edited March 11, 2020 by Stocky

[snairb]

mine was 19 hours so called non internetional tx have changed their methods of operation since the change of directors in the uk

[86Tiger]

I have opposite experience.  Every deposit has been visible no later than 3pm Thai time next day in my BKK account.

 

 

YMMV

[ThaiBunny]

1 minute ago, 86Tiger said:

I have opposite experience.  Every deposit has been visible no later than 3pm Thai time next day in my BKK account.

I've sent three transfers from my Australian bank in the past two weeks, using the Apple Pay integration. The funds transfer was instantaneous (literally) in each case - TW advised it would be. I logged straight onto my Thai bank account (Krungsri) and the funds were there

[TheAppletons]

8 hours ago, ThaiBunny said:

I've sent three transfers from my Australian bank in the past two weeks, using the Apple Pay integration. The funds transfer was instantaneous (literally) in each case - TW advised it would be. I logged straight onto my Thai bank account (Krungsri) and the funds were there

  Genius.  I completely overlooked the Apple Pay option.

 

  Do you transfer using Apple Pay via a linked debit/credit card, Apple Cash, .....?  

Edited March 14, 2020 by TheAppletons
Grammar

[Pib]

Using Apple and Google Pay info

https://transferwise.com/help/15/paying-for-your-transfer/2973523/can-i-pay-with-apple-pay-or-google-pay

[owl sees all]

Provided the 'funds' are available for 'peer to peer' transactions, the transfers are done immediately.

 

On standard rates my transfers are completed in seconds.

[soalbundy]

My transfers have always taken one day (from Germany) never had an issue with that, fast enough for me.

[PMZ]

On 3/6/2020 at 10:48 AM, Stocky said:

I transfer monies with TransferWise from Singapore to Thailand and have seen no problems, if anything it's getting quicker. Making a transfer from HSBC to TransferWise in the morning using FAST, the money will be deposited in my Krungsri account in Bangkok about 4hrs later.

 

Which method are you using to transfer between banks in Singapore?

 

.

I just use the standard DBS Funds Transfer service. I will try the FAST service.

What I have found since writing the original OP, is that the delay is only on weekends or out of usual banking hours.

In weekday  banking hours, the transfer is  in minutes.

So, I agree with several comments made here, that this is likely to be a DBS issue.