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Transferwise money transfer now called Wise money transfer but still so slow


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hello,

 

can you explain me why I have read here that this service is good ?

they are so slow, their process is not reliable, the money is already with them in USD but they keep postponing to transfer to my Thai bank, and days after still haven't !

what is their excuse when we know that they transfer from their Thai bank to my Thai bank ?

IT IS NOT AN INTERNATIONAL TRANSFER PROBLEM because as I already said money is only in their account, they are just slow or looking for problems.

 

 

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Because for me it works flawlessly like a clockwork for more than two years now (first transaction January 2018). Same day or next day. Last transfer on Friday. Initiated from my WISE accoun

Never had a problem with wise.   Wise to Kaskorn bank within seconds.

It depends on the amount. Small amounts (say up to 2.000 Euro's arrive within seconds. Bigger amounts (say 10.000 Euro upwards) take about one day. Very transparent service as you are informed by

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I did my very first Wise transfer this month (US to Thai), and due to a misunderstanding on my part it took 3 days.  I read the part about the two small money transfers wrong. I'm guessing my next transfer will go a lot quicker.

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They, Wise, had fun startup ads, strippers outside Threadneedle St. etc but their rates are really ornery. I used Worldfirst for a few years, then they dismissed all their retail customers last month, they were great, shame it didn't last. I may return to Ozforex, I'm looking currently....

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I admit it I am old and dont understand a lot of this but I am tired of the fees I pay to transfer money from the US to here. From the point of view of my bank in the US how does the (Transfer)Wise transaction appear? Is it just like a domestic transfer to a US ABA routing number? Is it in the IAT format (required for BKK BK NY transfer)? 

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From Westpac Australia to SCB in Krabi took less than two minutes for my last four transfers, I usually send late at night as the Oz dollar is always better late evening  and before I have reopened the Wise app on my iPad to press I have made this transfer an email is in my inbox saying money received. This is followed by money sent , close the Wise app, open SCB and its there. No complaints from me and no, Wise is not paying me to promote them as claimed by a previous poster.

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26 minutes ago, G Rex said:

I have no problems with transfers from Australia to my Thai bank - but is nearly always overnight. I transferred money last Friday and it didn’t land in my account here until midday Tuesday - but I was informed all the way.

The only time I have had any problem with Wise occurred with a large transfer , that crept over their limit due to currency rate changes. My money was in limbo for a few days. I had to cancel my original transfer , and then make a new one for less than their ceiling (2 mill) - they refunded me the difference. Was annoying at the time - but I always feel safe with this company (and their rates are good)

I didn't even know they had limits until a friend of mine that was having a house built here was told he hit their yearly limit (US) and would not be able to transfer any more till the beginning of the year. My last transfer from the US, 2 hours,

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Read this off their website:

 

Choosing the right way to send money with Wise will largely depend on your payment method. Some payment methods are faster than others. Some can be instant, while others are cheaper.

 

 

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Wise act to BKK Bank act, literally 5-10 seconds. Normal Bank working days, different for weekends and bank holidays! And good middle market rates. Unlike the banks,,,,rates! 

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I intend to transfer a few million baht soon but as a test i transfered 50 euro from ireland to my thailand bangkok bank ac and received only 1500 baht 

The instruction to my irish bank was to transfer in euros so it was not european fex rates to blame, also i paid the irish bank fees in advance

 

The exchange rate was 38 baht to the euro which means i should have received 1900

 

I suspect bangkok bank have an extra add on fee of about 500 baht, which stays the same if you transfer 50 euro or 50,000 euro ...of course a charge of 500 baht when transferring 50 euro is a lot, but not a lot if you transfer  50,000 euro......please confirm 

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I always used to do direct uk bank to that BK bank. Then decided to use Wise on recommendation of the people on here. Never had an issue, there within the day, better than my 3 day wait and the bank transfer skimming.

 

One thing I would say , is does the payment get delayed if the Bank in on a public holiday closure. Can;t complain if the banks closed.

 

 

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You just need to understand the process for how you are going to send, for me sending £ via transfer,

 

If i want it to be processed as International I use my Bangkok Bank account with the "long term" reason. Takes 1-2 days depending when i send £

 

If I want to use Bangkok Bank and settle 2pm same day I send before 9.30am (thai time) and don't choose "long term" reason

 

If i want money in seconds i send to Kasikorn, it won't be classed as International.

 

Weekends and bank holidays will delay things.

 

Often problems i read about are user error, holidays or extra Wise checks being carried out because new customer or large transfer

Edited by scubascuba3
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Also check how you are paying the money to wise.  If by SWIFT transfer from your bank it take 2/3 working days.  If from your debit card it can be seconds to 6 hours.

 

swift.jpg.4b85414d3e840bb2ab843a55856776d0.jpg

Edited by fangless
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3 hours ago, beaufoy said:

I intend to transfer a few million baht soon but as a test i transfered 50 euro from ireland to my thailand bangkok bank ac and received only 1500 baht 

The instruction to my irish bank was to transfer in euros so it was not european fex rates to blame, also i paid the irish bank fees in advance

 

The exchange rate was 38 baht to the euro which means i should have received 1900

 

I suspect bangkok bank have an extra add on fee of about 500 baht, which stays the same if you transfer 50 euro or 50,000 euro ...of course a charge of 500 baht when transferring 50 euro is a lot, but not a lot if you transfer  50,000 euro......please confirm 

Are you talking about TransferWise here? Why did you have any Irish bank fees?

 

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