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

[Yellowtail]

58 minutes ago, sncoem said:

They are scammers ! if you have money in your balance on their website but want to refund it to your bank account, you have to pay a fee, when they actually just allow a refund for free on their side. But they force you to use the send money function.

Why would you move money into the account you are not going to want to transfer?

[DBath]

On 9/28/2021 at 6:10 PM, thvima said:

Worst service ever for me. After 1 week they still didn't transfer money to my account, I will never use them again and I still do not understand why others do. Maybe they just have no choice.

 

 

Did you forget to hit the ‘Send’ button? ????????????

[lungbing]

On 9/29/2021 at 7:22 PM, lungbing said:

This morning I moved a few hundred pounds from my HSBC account in the UK to Wise in the UK.  It arrived immediately and I had an email from Wise telling me so by the time I logged into my email account.

Then I sent the same money from Wise to my Kasikorn account here giving long term stay in Thailand as the reason.  The money arrived in well under a minute, probably in under 30 seconds.

I don't yet know the  code given to the transfer as a staement only goes up to close of banking last night.  I'll have a look tomorrow and report back.

A Day Later:

 

The transfer was coded as "Trade Finance"  which is exactly what is says when I transfer my monthly >65,000.  So telling Wise it was for Long Term Stay in Thailand had no effect on the speed which was pdq.

[scubascuba3]

1 minute ago, lungbing said:

A Day Later:

 

The transfer was coded as "Trade Finance"  which is exactly what is says when I transfer my monthly >65,000.  So telling Wise it was for Long Term Stay in Thailand had no effect on the speed which was pdq.

It won't because you used Kasikorn

[treetops]

8 minutes ago, lungbing said:

A Day Later:

 

The transfer was coded as "Trade Finance"  which is exactly what is says when I transfer my monthly >65,000.  So telling Wise it was for Long Term Stay in Thailand had no effect on the speed which was pdq.

Please also tell us if you used a Wise Multi Currency account.

 

[lungbing]

23 hours ago, treetops said:

Please also tell us if you used a Wise Multi Currency account.

 

No, a normal sterling account.

[Dene16]

On 9/27/2021 at 11:05 AM, scubascuba3 said:

Choosing long term stay will definitely delay the transfer so if speed is important choose a different one. Initiate before 9.30am Thai time it will then settle 2pm that day,

I believe your evaluation to be somewhat true. I have gone through my last 4 transfers all taking between 6 1/2 and 20 hours using long term funds and showing as international transfer. Obviously as some have gone through to the next day i have assumed them to take 2 days as i don't really keep track of the time. Yesterday i did a transfer at 10.36 Thailand time using living expenses and the transaction took 10 minutes. statement stated local transfer

I am using Bangkok Bank

Edited October 1, 2021 by Dene16
addition

[treetops]

8 hours ago, lungbing said:

No, a normal sterling account.

There's still something unusual about your process.  The regular procedure I'm aware of is to instigate the transfer at Wise who then tell you how much to send along with where to send it.  You're process describes sending the money to Wise first.

 

When you say "a normal sterling account" are you talking about an account with Wise or was that your sending account?

 

In your second step "Then I sent the same money from Wise to my Kasikorn account here" do you tell them in baht or in GBP?

 

There's just something odd about your process compared to years of TW post discussions, and I'm sure it works as you say, but it would be good to understand what's different for you from what is expected.

Edited October 1, 2021 by treetops

[Dene16]

On 9/28/2021 at 10:21 AM, Yellowtail said:

Not as funny as people thinking Wise offers the best rates around or even as funny as people being so desperate for funds they time it to the second....

Whenever this topic arises there is always someone who pops there head above the water and makes a comment such as yours.

However, and i will admit i rarely read the TransferWise posts,in the posts that i have read, the ones that have made the same statement of rates being better elsewhere have either failed to declare where the rates came from or have been found to be incorrect.

First and foremost i will state that you can get a better rate the question is, is it worth it.

5 years ago i enquired at 5 different currency exchanges who claimed to have the best rates, after signing up and attempting to make a transfer those great rates were no longer available. I was contacted by 4 of these agencies and asked if they could be of help as i had declared that i want to send approx 10-20k (pounds)

I told them i used TransferWise and their present rate, prompting them to offer me a better rate.

2 companies, both after stating that TransferWise charge a percentage went on to then offer a rate that still worked out worse than if i used TransferWise. On pointing this out, one came back with another offer which worked out to be 0.002 to the pound better.

I cant be bothered to write about the rubbish the others came back with but they still did not better TransferWise.

So from my experience unless you want to negotiate a rate every time you want to send money. nothing has been as easy and convenient as TransferWise  

 

 

 

 

[scubascuba3]

2 hours ago, Dene16 said:

I believe your evaluation to be somewhat true. I have gone through my last 4 transfers all taking between 6 1/2 and 20 hours using long term funds and showing as international transfer. Obviously as some have gone through to the next day i have assumed them to take 2 days as i don't really keep track of the time. Yesterday i did a transfer at 10.36 Thailand time using living expenses and the transaction took 10 minutes. statement stated local transfer

I am using Bangkok Bank

I do find that strange as Bangkok Bank seem to batch settle their transfers 2pm. I did one last week, before 9.30am and as per usual settled 2pm the same day. You have a screenshot of it settling a different time?

Edited October 1, 2021 by scubascuba3

[Dene16]

2 minutes ago, scubascuba3 said:

that's not working

what do you mean?

 

[scubascuba3]

20 minutes ago, Dene16 said:

what do you mean?

 

link doesn't work, can't you just attach the photo?

[KannikaP]

On 9/28/2021 at 11:23 AM, Chivas said:

Now we have posters claiming delays are endured because of the "reason for transfer"

 

Chaps thats entirely for TW historical records should there ever be an investigation into money laundering on your account

 

Its makes no difference if you say its for Noi in Nongbulamphu or immediate action funds for Soi 6

Oh yes it does. As I posted earlier, I did two simultaneous transfers, one for medical expenses the other for long term stay in Thailand, each for Bht5000 to Bkk Bank. The first was immediate, the second took until 2pm that same day as I had done the transfer at 6am. 

[scubascuba3]

4 minutes ago, KannikaP said:

Oh yes it does. As I posted earlier, I did two simultaneous transfers, one for medical expenses the other for long term stay in Thailand, each for Bht5000 to Bkk Bank. The first was immediate, the second took until 2pm that same day as I had done the transfer at 6am. 

Presumably using Medical expenses meant it didn't get processed as International? hence why it settles quicker

[Dene16]

8 minutes ago, scubascuba3 said:

link doesn't work, can't you just attach the photo?

 

9 minutes ago, scubascuba3 said:

link doesn't work, can't you just attach the photo?

it's not a link, it is a photo, you need to expand it as it only shows the top part of the photo i can see it myself

It is the same as yours except it says 10.36 and transfer from local bank

 

[KannikaP]

33 minutes ago, scubascuba3 said:

Presumably using Medical expenses meant it didn't get processed as International? hence why it settles quicker

Exactly what I was saying. Transfers are almost instant unless you put 'for long term stay', then a human being has to intervene so it takes until 2pm that day, or the next.

But if you are doing the transfer for Immigration purposes and need it to be shown as a Foreign Transfer (FTT in Bkk Bank), do the transfer a day earlier!

[scubascuba3]

51 minutes ago, Dene16 said:

 

it's not a link, it is a photo, you need to expand it as it only shows the top part of the photo i can see it myself

It is the same as yours except it says 10.36 and transfer from local bank

 

ah ok, I can't see it, but as it says local bank that makes sense, International are 2pm

[stupidfarang]

All ways good service and great rates. I find it is best to transfer between Monday and Thursday, do not transfer on a weekend as you will not get the money until the next working business day (Monday) and watch out for public holidays in Thailand or your home country as that will delay the transfer by a day or more

 

Otherwise very good

[Yellowtail]

4 hours ago, Dene16 said:

Whenever this topic arises there is always someone who pops there head above the water and makes a comment such as yours.

However, and i will admit i rarely read the TransferWise posts,in the posts that i have read, the ones that have made the same statement of rates being better elsewhere have either failed to declare where the rates came from or have been found to be incorrect.

First and foremost i will state that you can get a better rate the question is, is it worth it.

5 years ago i enquired at 5 different currency exchanges who claimed to have the best rates, after signing up and attempting to make a transfer those great rates were no longer available. I was contacted by 4 of these agencies and asked if they could be of help as i had declared that i want to send approx 10-20k (pounds)

I told them i used TransferWise and their present rate, prompting them to offer me a better rate.

2 companies, both after stating that TransferWise charge a percentage went on to then offer a rate that still worked out worse than if i used TransferWise. On pointing this out, one came back with another offer which worked out to be 0.002 to the pound better.

I cant be bothered to write about the rubbish the others came back with but they still did not better TransferWise.

So from my experience unless you want to negotiate a rate every time you want to send money. nothing has been as easy and convenient as TransferWise  

In a previous post I explained that I have used Wise, and that is is great for small transfers, but that for larger transfers it is cheaper (and no more difficult once you're set up) to just do bank transfers.

 

My post that you responded to, was (I think) in response to something derogatory someone else said. I see value in convenience and have no interest in putting a lot of effort into saving a dollar or two. 

 

So to be clear, based on my *experience, I think Wise is better than a bank for transferring a few thousand dollars, but once you get up to about **$8k it's breaks even when compared to a the bank transfer, and the bigger the transfer gets after that, the greater the savings using the bank.

 

*Chase Bank in the US

**Based on $45 transfer fee

 

 

 

 

 

 

[Stocky]

3 hours ago, Yellowtail said:

In a previous post I explained that I have used Wise, and that is is great for small transfers, but that for larger transfers it is cheaper (and no more difficult once you're set up) to just do bank transfers.

Whilst this is true for transfers from the USA, it's not the case for the UK. The US has an interbank domestic transfer fee, domestic transfers in the UK are free, Singapore is the same. So GBP from the UK, or SGD from Singapore, I find there remains an advantage using Wise regardless the amount involved.

 

Always wise to do your own homework.

 

.

Edited October 2, 2021 by Stocky

[Yellowtail]

4 hours ago, Stocky said:

Whilst this is true for transfers from the USA, it's not the case for the UK. The US has an interbank domestic transfer fee, domestic transfers in the UK are free, Singapore is the same. So GBP from the UK, or SGD from Singapore, I find there remains an advantage using Wise regardless the amount involved.

 

Always wise to do your own homework.

 

.

As far as I can tell, domestic transfers are free in the US, it is generally only international transfers that incur a fee, often a flat-rate. 

 

In any event, I doubt what you say is true.

[Stocky]

20 minutes ago, Yellowtail said:

In any event, I doubt what you say is true.

Sorry? Why on earth would I make something up?

 

What I've said is perfectly true, transferring money from both my accounts in the UK and Singapore is cheaper using Wise, regardless the amount in question.

 

But as I said, people should do their own homework rather than accept anything either you or I say. But please don't call me a liar. 

[Yellowtail]

54 minutes ago, Stocky said:

Sorry? Why on earth would I make something up?

 

What I've said is perfectly true, transferring money from both my accounts in the UK and Singapore is cheaper using Wise, regardless the amount in question.

 

But as I said, people should do their own homework rather than accept anything either you or I say. But please don't call me a liar. 

Sorry? What on Earth led you to believe I called you a liar? 

 

You claimed domestic transfers in the US carried a fee, which (at least generally) I do not think is true, but if I am wrong about that, would you call me a liar? 

 

I just think you are wrong, I don't think you are lying. 

[lungbing]

15 hours ago, treetops said:

There's still something unusual about your process.  The regular procedure I'm aware of is to instigate the transfer at Wise who then tell you how much to send along with where to send it.  You're process describes sending the money to Wise first.

 

When you say "a normal sterling account" are you talking about an account with Wise or was that your sending account?

 

In your second step "Then I sent the same money from Wise to my Kasikorn account here" do you tell them in baht or in GBP?

 

There's just something odd about your process compared to years of TW post discussions, and I'm sure it works as you say, but it would be good to understand what's different for you from what is expected.

I have an HSBC current account in the UK.  Wise is one of my payees on that account.  I transferred the money from HSBC to Wise UK at sort code 23-14-70 via internet banking.  It arrived at Wise within seconds as confirmed by the email sent by Wise to me.

I then logged onto Wise and sent the newly arrived money in GBP to my Kasikorn account here using the long-term stay as reason, and it arrived in seconds.  I've done that sequence many times and see nothing unusual in it.

[thepdru]

Maybe if you investigate more, you will know how much people pay to be able to comment the reviews on TrustpilotBigScam business...

people who believe in trustpilot really need to learn more...

only FB doesn't allow pages to edit reviews, so it's the only place where you can trust them, and wise doesn't allow  FB reviews because they know how bad they would be. They only show the trustpilot tab, a company that they pay thousands $$$ / year to be sure to be allowed to "manage" the reviews...

[keithcresswell]

After using Wise for a couple of years. I just had my first problem. I have a retirement visa based on 65k so I chose the Thai immigration option as the reason for the transfer. Up until now its always shown as a foreign transaction. Today it shows as a domestic transfer. I'm currently waiting for Wise to get back to me to let me know how they are going to put this right. Maybe its time to look at other options.

[scubascuba3]

8 minutes ago, keithcresswell said:

After using Wise for a couple of years. I just had my first problem. I have a retirement visa based on 65k so I chose the Thai immigration option as the reason for the transfer. Up until now its always shown as a foreign transaction. Today it shows as a domestic transfer. I'm currently waiting for Wise to get back to me to let me know how they are going to put this right. Maybe its time to look at other options.

You seem to be late to the party, see this thread

https://aseannow.com/topic/1234763-wise-transfers-not-being-processed-as-international-specifically-bangkok-bank/

 

 

Edited November 2, 2021 by scubascuba3

[racyrick]

3 hours ago, keithcresswell said:

After using Wise for a couple of years. I just had my first problem. I have a retirement visa based on 65k so I chose the Thai immigration option as the reason for the transfer. Up until now its always shown as a foreign transaction. Today it shows as a domestic transfer. I'm currently waiting for Wise to get back to me to let me know how they are going to put this right. Maybe its time to look at other options.

Sorry to hear. If you look at the other WISE thread here, this problem started on October 1st and till now, nobody knows why this happened or if it will be fixed. Please let us know what WISE says to you. Thanks

[Yellowtail]

I'm interested in what the WISE guy has to say as well...