Problems With Transferwise (Wise)

[Skeptic7]

Anyone else having transfer problem? Seems ever since Transferwise changed name to just "Wise", it's not lived up to either moniker.

 

During the past 3+ years, have transferred $100,000 USD to THB and a good friend here much more that. Both of us over dozens of transactions. Loved and highly recommended Tranferwise to everyone. We used ACH transfer from US Banks into Thai bank accounts. Suddenly, without any changes on our ends...transfers of any type are impossible and both the app and website have been rendered USELESS.

 

Am now using XE, which gives competitive rates, while trying to sort things out. For $1000 USD to THB transferred today as a test, XE was a slightly better deal. $2000 up and "Wise" gets better. However, presently "Wise" isn't an option for me.

 

Any thoughts, similar problems and suggestions appreciated. 

[scubascuba3]

Have you asked Wise why? UK transfers are the same as usual

[KannikaP]

Did my Bht 50,000 from Wise to Bkk Bank on 1st as usual. Arrived 14.04 as usual.

 

Please move this to Banking Forum.

Edited September 3, 2021 by KannikaP

[EricTh]

4 minutes ago, KannikaP said:

Did my Bht 50,000 from Wise to Bkk Bank on 1st as usual. Arrived 14.04 as usual.

Is this a monthly transfer for your visa? Which method do you use to transfer money out (not into) of Thailand

Edited September 3, 2021 by EricTh

[KannikaP]

1 minute ago, EricTh said:

Is this a monthly transfer for your visa? Which method do you use to transfer money out (not into) of Thailand

Yes, it is for my Retirement Extension INTO Thailand. I do not transfer OUT of Thailand.

[CharlieH]

MOVED TO BANKING

[Swiss1960]

No, I don't have problems with Wise, in fact, I just made a transaction well over THB 100K, with reason "monthly living", arrived within 20 seconds in my SCB account, transferred through CIMB bank.

Transfers with reason retirement money (or something to that effect) do NOT come through CIMB and can take around 2-3 days in order to make them eligible as international transfers (that is according to Wise customer service).

 

Exchange rate between Wise and XE is better for Wise. XE chart shows right now 38.73, Wise gave me 38.77

Edited September 3, 2021 by Swiss1960
removed note about "pub" forum posting

[Skeptic7]

58 minutes ago, EricTh said:

Is this a monthly transfer for your visa? Which method do you use to transfer money out (not into) of Thailand

No not monthly. I do not transfer money out of Thailand by any method. Clearly stated ACH electronic transfer from US banks to Thai banks in the OP. Have successfully done 26 of these over 3 years without issues. Now unable to do any sort of transfer and ACH does not even show as an option now. 

Edited September 3, 2021 by Skeptic7

[Skeptic7]

1 hour ago, scubascuba3 said:

Have you asked Wise why? UK transfers are the same as usual

Still working on it, but IMO their customer service sux as well. Inconvenient and slow. 

[EricTh]

19 minutes ago, Skeptic7 said:

No not monthly. I do not transfer money out of Thailand by any method. Clearly stated ACH electronic transfer from US banks to Thai banks in the OP. Have successfully done 26 of these over 3 years without issues. Now unable to do any sort of transfer and ACH does not even show as an option now. 

Sorry for the confusion but I was asking the other forummer and not you, I also asked him additional question not related to you.

 

As for you, you might want to try Instarem instead of Wise. Their rate is also quite similar to Wise.

 

https://www.instarem.com/en-sg/transfer-money-to-thailand

 

 

I have used Instarem a few times, and they are quite fast. PM me for further info

 

Edited September 3, 2021 by EricTh

[Skeptic7]

1 hour ago, Swiss1960 said:

Exchange rate between Wise and XE is better for Wise. XE chart shows right now 38.73, Wise gave me 38.77

Maybe you are not figuring in Wise fee. As stated previously and at this very minute...XE for $1000 (AND $2000) is better than Wise. I prefer Wise, but it seems XE offers better rates at lower transfer amounts and competitive rates thereafter. 

 

XE

 

Wise

[sanuk711]

2 hours ago, Skeptic7 said:

Am now using XE, which gives competitive rates, while trying to sort things out. For $1000 USD to THB transferred today as a test, XE was a slightly better deal. $2000 up and "Wise" gets better. However, presently "Wise" isn't an option for me.

XE can give any quotes they like----but do they now send to Thailand?---- or anywhere else?

 

XE= USA--Thailand.. Sorry, we can't send money from your country yet

We are always expanding our service though, so please check again in the future.

[billd766]

2 hours ago, Swiss1960 said:

No, I don't have problems with Wise, in fact, I just made a transaction well over THB 100K, with reason "monthly living", arrived within 20 seconds in my SCB account, transferred through CIMB bank.

Transfers with reason retirement money (or something to that effect) do NOT come through CIMB and can take around 2-3 days in order to make them eligible as international transfers (that is according to Wise customer service).

 

Exchange rate between Wise and XE is better for Wise. XE chart shows right now 38.73, Wise gave me 38.77

Monday to Thursday my  transfers from the UK take usually 24 hours and are in my BBK bank the following day using (IIRC) for living expenses in Thailand (the last line on the list).

 

On Fridays it turns up on Monday afternoon. The exceptions to this are Thai public and bank holidays.

 

Also, I don't transfer money out of Thailand.

[mtls2005]

3 hours ago, Skeptic7 said:

Anyone else having transfer problem?

 

What is the problem?

 

I read your post(s) twice, lots of interesting background, good back-story and character development, but no plot.

 

3 hours ago, Skeptic7 said:

transfers of any type are impossible and both the app and website have been rendered USELESS.

 

Ok, a McGuffin. Any type? Impossible? Rendered useless?

 

Then a bunch of posts about what you don't do.

 

 

Keep is simple. Describe the thing you're trying to do, and where it fails.

[dj230]

i prefer paypal over wise, wise always has issues for me 

[Denim]

1 minute ago, dj230 said:

i prefer paypal over wise, wise always has issues for me 

I thought so too. Easy cheap transfers......until.....they seized 100 pounds I sent because of ' suspicious activity ' and I had to wait 6 months before the money that was frozen was due to be released. At first they responded to my repeated messages then they just stonewalled me.

 

Not had any issues with transferwise ....yet.

 

Hope it stays this way.

[EricTh]

54 minutes ago, sanuk711 said:

XE can give any quotes they like----but do they now send to Thailand?---- or anywhere else?

 

XE= USA--Thailand.. Sorry, we can't send money from your country yet

We are always expanding our service though, so please check again in the future.

https://www.xe.com/send-money/send-money-to-thailand/#how-do-i-send-money-to-Thailand

 

 

 

 

 

[scubascuba3]

37 minutes ago, dj230 said:

i prefer paypal over wise, wise always has issues for me 

have you done a same time comparison with Wise and Paypal? Paypal always had poor exchange rates when i checked

[dj230]

5 minutes ago, scubascuba3 said:

have you done a same time comparison with Wise and Paypal? Paypal always had poor exchange rates when i checked

yep, it's pretty much the same, maybe a few dollar difference per $1000, but transfers are instant and can use credit card for points, the free points/cashback offset the extra few dollar fees and you actually end up paying less

Edited September 3, 2021 by dj230

[lopburi3]

Quote

We used ACH transfer from US Banks into Thai bank accounts.

ACH transfers are made to WISE - WISE pays via a local Thailand account - it is not an ACH transfer to a Thai account (as used to be done with transfers via Bangkok Bank New York).

 

I made two $1,500 ACH pull transfers from two US banks to Bangkok Bank for long stay in Thailand using WISE at 0802 on 1 Sep - they arrived at 1404,  ACH was indeed offered as method for payment and was used.   Do you have bank accounts registered for ACH for WISE to pull from?

Edited September 3, 2021 by lopburi3

[PJPom]

I did a transfer from Australia late last night and got three emails at the same time,  XX is sending, money received, money sent, Pressed the buttons for my SCB and it was there, all within the time it took me to open and close the apps. One thing I have noticed is it came via Deemoney, will check the coding of the deposit on my statement.

[Nojohndoe]

Never once had any  real problems with TransferwIse/Wise after many many transfers.

Exchange rates minimally different either up or down compared to others and fees also.

I monitor the exchange rates and choose when to lock in a transfer which sometimes is actually a very small increase on  expectations. Transfers are mostly within an hour, sometimes  minutes, and  rarely  next day.

 

 

[Skeptic7]

41 minutes ago, lopburi3 said:

ACH transfers are made to WISE - WISE pays via a local Thailand account - it is not an ACH transfer to a Thai account (as used to be done with transfers via Bangkok Bank New York).

 

I made two $1,500 ACH pull transfers from two US banks to Bangkok Bank for long stay in Thailand using WISE at 0802 on 1 Sep - they arrived at 1404,  ACH was indeed offered as method for payment and was used.   Do you have bank accounts registered for ACH for WISE to pull from?

Don't know how the OP can be any clearer. Almost $100,000 USD transferred over past 3 years with Transferwise by ACH to Transferwise. Suddenly it doesn't work work for me. SAME accounts here and there. Perhaps a problem on my 2 US bank's end, but that seems highly unlikely for both. 

[OneeyedJohn]

So u need a million baht every year to live in Thailand - good for you.

 

[lopburi3]

10 hours ago, Skeptic7 said:

Don't know how the OP can be any clearer. Almost $100,000 USD transferred over past 3 years with Transferwise by ACH to Transferwise. Suddenly it doesn't work work for me. SAME accounts here and there. Perhaps a problem on my 2 US bank's end, but that seems highly unlikely for both. 

Method of payment and exactly what procedure you use?  Do you have accounts registered with Wise for them to pull or do you send money from banks yourself or do you have an account with Wise?  As said I used on 1st with no issues with the pull system and no account with Wise.  Your post was not clear on what exactly was being done and your comment of ACH transfer to Thailand made it even less so.  There are many here who may be able to help if you can provide details rather than "Almost $100,000 USD transferred over past 3 years".

[Skeptic7]

Appreciate the replies and suggestions. Seems most here are still satisfied with Wise. That's great. 

 

Happily using XE now and satisfied, thus far, with their service and very competitive rates. 

[CharlieH]

At request of OP

 

CLOSED