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

[bstafford214]

I have been using TransferWise (Wise now) for about 4 years. I usually have the money transfer completed with 5-10 minutes. There have been only a few instances where it took a day, but that was due to a weekend and holiday combined, so that may have caused the delay.

 

The money goes to Kasikorn bank, my wife's account for our monthly expenses.

 

Not sure why some people take longer than 1 day. I have seen one comment about using Swift transfer, I would not use that method. 

I always use the Debit account option from my UK Lloyds bank and super fast and cheap rates with excellent exchange rates. 

[head bender]

I transfer this morning using Wise 3 seconds for the money to arrive. Pay by debit card if you want speed or stop moaning

 

[BananaGuy]

2 hours ago, JayClay said:

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

 

Indeed. I’d add a caution against transferring ‘a few million’ baht or anything via a non-bank agency.

My guess is your money is protected in Ireland and to a lesser extent in Thailand, by government guarantee.

 

That is not true while the funds are in transit with Wise or any other similar outfit. They happen to go belly-up with your money in the ether then best of luck.

 

If you insist on cheapskating using Wise (I do) then break up the transfers into smaller chunks and wear a slightly higher overall fee.

 

Chunk-size depends on how big a chunk you could survive losing without affecting your BP.

[DFPhuket]

The original poster's question related to transfers from a US bank to Thailand via Wise. I'm assuming the poster is selecting the cheapest option - an ACH (Automated Clearing House) transfer. The ACH option is not available from banks in other countries so comments about the speed of transfers from other locations aren't relevant to US transfers.

 

An ACH transfer is far cheaper than a debit card transfer (see below), but it can also be much slower. If an ACH transfer falls over the weekend or a holiday I've had it take up to 3 days. I've also noticed that transfers over $5,000 tend to take longer. Sometimes a transfer does arrive in an hour or less, but you shouldn't count on it if you use the ACH option. 

[DFPhuket]

Sorry, duplicate

Edited September 23, 2021 by DFPhuket
duplicate

[DFPhuket]

Duplicate

Edited September 23, 2021 by DFPhuket
sorry duplicate

[DFPhuket]

duplicate

Edited September 23, 2021 by DFPhuket
duplicate

[Moonlover]

2 minutes ago, DFPhuket said:

The original poster's question related to transfers from a US bank to Thailand via Wise. I'm assuming the poster is selecting the cheapest option - an ACH (Automated Clearing House) transfer. The ACH option is not available from banks in other countries so comments about the speed of transfers from other locations aren't relevant to US transfers.

 

An ACH transfer is far cheaper than a debit card transfer (see attached), but it can also be much slower. If an ACH transfer falls over the weekend or a holiday I've had it take up to 3 days. I've also noticed that transfers over $5,000 tend to take longer. Sometimes a transfer does arrive in an hour or less, but you shouldn't count on it if you use the ACH option. 

 

 

Well done. Much more helpful than my earlier correspondent! I have long suspected that the problem lay with the method that is used to make the in-payments, rather than a problem with Wise itself. A method that, is course peculiar to the USA. I think you could have nailed it here.

[ronster]

Was great before but now bit slow at times.

Avoid sending on a Friday as you probably won’t get it till Monday I have found and if you cancel the transaction it can take a day or more to be returned to you .

I send money weekly from uk and find if I do it between 6-7am Thai time then it is in my Thai bank in either seconds or a few hours . Anytime after that it doesn’t arrive till late in the day or next day in middle of the night. 

[foreverlomsak]

13 hours ago, hotandsticky said:

No complaints here and I do around 10 transfers a month

An average of every three days, why don't you consolidate some of the transfers to say 6 days average, you will save in Wise Fees.

[Mark17AA]

15 hours ago, freedomnow said:

I had a transfer in 7 seconds or something.

It maybe depends on if it is a new account you are sending to or way it is funded...congestion on the network etc...anyway it destroys bad old days paypal.

 

Yep.. always arrives in secounds... only time delay is outside Thai banking hours such as weekends.

[wannascuba]

Been using Remitly and happy so far with service/

[soalbundy]

15 hours ago, KhunBENQ said:

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 account at about 8:30 AM, in Bangkok Bank account 2 PM as always.

But that's NOT from the US but from Euro zone.

Same here, sometimes same day but usually next day without fail.

[Bangkok Barry]

They have contact information on their website. Ask them why there is such a long delay, which certainly isn't usual. I wrote to them once when before I sent the money to them they said it would arrive here in seconds, but after they received my money they said there was a delay. They explained in what was a standard email about delays being possible at various stages. I refused to accept their standard reply, accused them of giving incorrect information to customers, promising one thing and then delivering a poorer service once they had my money, and they said they would raise it higher up.

 

But, on the other hand and as another poster has said, sometimes they predict a day and it arrives in minutes. They really do need to brush up how they communicate with customers about the status of their transfers. Sometimes it's in your favour, sometimes not. And when money is concerned I don't like hit-or-miss.

[MajorTom]

Wise is the best thing that's happened. I have done extensive testing with different amounts and wise always wins on value and speed. I pay with debit card and use SCB in Thailand.

 

But i did notice my transfers have been slower the past 2 months.

It used to be done in seconds (even on weekends or when banks were closed in both ends), now its a 24 hour process.

 

The "bottleneck" seems to be Bangkok Bank. If they are involved there's always an extra day.

You cant choose what partner Wise is using in Thailand, its just random.

When the transfers was done in seconds i can see they have used CIMB, Citibank, or Deemoney.

 

EDIT:

Just tested again now. If i choose "General monthly living expenses" its done in 15 seconds and came from CIMB to my SCB account.

 

The transfer i did a few days ago i chose "funds for long term stay in Thailand", it took an extra day and came through Bangkok Bank to my SCB account.

Edited September 23, 2021 by MajorTom
new info

[Grusa]

1 hour ago, delh said:

I use UK to SCB also. 

May I ask, which selection do you use as the reason for transfer? 

Originally, it was seconds, but now always delayed, sometimes overnight (I don't transfer from Fridays to Sundays) 

Monthly living expenses. Regardless of the truth.  It's none of their d... business

[Bangkok Barry]

13 minutes ago, Mark17AA said:

Yep.. always arrives in secounds... only time delay is outside Thai banking hours such as weekends.

My experience has been that weekends have no effect. Thai banking holidays do, though.

[Chivas]

I have simply no idea what some are you are doing to make it so slow

 

Complete the online form

Send them your transfer from your bank (dont use debit cards) using a saved payee

Go back to online form and click I've sent the money

Log in to Thai bank (SCB for me) and its already there

 

From originally opening Wise website to initiate a transfer to it landing is 3 minutes tops.....(the actually transfer itself 10 seconds)

[TucsonDavid]

I’ve been using TransferWise (Wise) for the past 15 months to transfer money from the US to my BKK Bank account here in Thailand with zero problems.

Most transfers are completed within 3 hours, with many being completed in less than 20 minutes. 
When setting up the transfer, choosing the ACH method works best and is the fastest method. 

[Why Me]

Thanks for reminding me. With USD at 33.57 THB I think I will transfer in a chunk of change right now.

 

Btw, Wise has excellent help. Once was having trouble setting up direct transfer facilities from my US brokerage. They had me sorted out in a couple of phone calls. So if you're having problems ring them up for a chat.

[scubascuba3]

4 minutes ago, TucsonDavid said:

I’ve been using TransferWise (Wise) for the past 15 months to transfer money from the US to my BKK Bank account here in Thailand with zero problems.

Most transfers are completed within 3 hours, with many being completed in less than 20 minutes. 
When setting up the transfer, choosing the ACH method works best and is the fastest method. 

I've seen a couple problems reported by US people using their bank card which doesn't go through. Using transfer seems painless for most

[ikke1959]

I did yesterday a transfer and was immediately on my Bangkok Bank account

[mvdf]

15 hours ago, thefactoryoutlet said:

the money is already with them in USD but they keep postponing to transfer to my Thai bank, and days after still haven't !

Could be the behind-the-scenes AML gears whirring as they check and double check suspicious transfers.

 

Good thing about having a bank account in Europe is that they have FPS, Sofortueberweisung, Instant SEPA and all those goodies, unlike ACH which takes ages. Granted debit and credit cards are allowed for faster settlement, they are often prone to being flagged for secondary checks. 

 

 

 

 

[davidkas]

15 hours ago, thefactoryoutlet said:

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

they are so slow,

My transfers with Wise usually take 5seconds to 5 minutes. Make sure you send the money during banking hours and the is never a problem

[Nong Khai Man]

15 hours ago, Grusa said:

I can not agree. I recently did a transfer from UK bank (in £) - Wize - my Thai bank (in baht ) .

From UK bank to SCB, including email /app / SMS notifications, was less than 10 minutes...even though Wise said could be up to 2 days!

And rates were fantastic! 

Hardly FANTASTIC, They give you roughly 70 Satang More than the bank rate !!

[Nong Khai Man]

14 minutes ago, ikke1959 said:

I did yesterday a transfer and was immediately on my Bangkok Bank account

Lucky You Especially with Bangkok Bank.....Mine took 24 Hours last time !!

[bert bloggs]

When you do a transferthey always tell you how long it will take,so no problem rate is always what they post 

[Grusa]

11 minutes ago, Nong Khai Man said:

Hardly FANTASTIC, They give you roughly 70 Satang More than the bank rate !!

Well it's a lot better than any other exchange rate available to me. I can't speak for others.

70satang makes a big difference on £5000. 

3,500 baht, to be exact. Enough for a beer or two.

[hotandsticky]

59 minutes ago, foreverlomsak said:

An average of every three days, why don't you consolidate some of the transfers to say 6 days average, you will save in Wise Fees.

 

 

A fair comment  but there are only VERY marginal savings...... 83p on 1 x GBP 2,000 versus 2 x GBP 1,000 transfers.

 

 

It is the exchange rate that makes the major difference and I receive payments in on behalf of others at various times of the month. 

[KannikaP]

3 hours ago, billsmart said:

I've used Transferwise, now Wise

Is it now time to stop saying this.  Asean Now, formerly Thai Visa has stopped being used..