mfd101 Posted December 2, 2021 Share Posted December 2, 2021 2 minutes ago, lopburi3 said: Did it really say that? Transferwise ceased being the name long ago. It is Wise now. Did someone really use "Transferwise" as the name in a receipt? I organized a transfer thru Wise in Oz yesterday and the money will arrive in my Thai account at 1400 today. The receipt for the transfer which I received this morning does say (in the business details at the bottom of the 2nd page) 'TransferWise Ltd' and 'TransferWise Australia Pty Ltd'. Obviously the new 'Wise' name is just a 'trading as' name, not the official or registered name of the company. At least in the case of Oz. 1 Link to comment Share on other sites More sharing options...
RafPinto Posted December 2, 2021 Share Posted December 2, 2021 I just I did send money through Wise to pay International school fees and it was at school's account in secondes. Difficult to figure out how Wise works. 1 Link to comment Share on other sites More sharing options...
lopburi3 Posted December 2, 2021 Share Posted December 2, 2021 3 minutes ago, RafPinto said: I just I did send money through Wise to pay International school fees and it was at school's account in secondes. Difficult to figure out how Wise works. Most transfers as in seconds if funded and not to tagged Bangkok Bank account (which is only at about 1400 each day). 1 Link to comment Share on other sites More sharing options...
RafPinto Posted December 2, 2021 Share Posted December 2, 2021 1 hour ago, lopburi3 said: Most transfers as in seconds if funded and not to tagged Bangkok Bank account (which is only at about 1400 each day). I sent yesterday money and it will arrive on Friday. Sent before yesteday and it arrived straight away. This one I wanted to take 1 day as usually for my monthly transfer for immigration. Sent today and straight in schools account. Link to comment Share on other sites More sharing options...
mavi Posted December 2, 2021 Share Posted December 2, 2021 It's only problems, people should not use this scam service. 2 1 Link to comment Share on other sites More sharing options...
Popular Post lopburi3 Posted December 2, 2021 Popular Post Share Posted December 2, 2021 3 minutes ago, mavi said: It's only problems, people should not use this scam service. Total nonsense. 3 1 1 Link to comment Share on other sites More sharing options...
mavi Posted December 2, 2021 Share Posted December 2, 2021 5 minutes ago, lopburi3 said: Total nonsense. Your opinion. I won't detail because you do not deserve it, but their process suxx and as soon as there is anything a bit different, it fails. They needed 3 weeks to be able to transfer me the money that was already in their account !!! Then keep thinking as a champion who knows everything until life proves you different... 1 Link to comment Share on other sites More sharing options...
norbra Posted December 2, 2021 Share Posted December 2, 2021 2 hours ago, lopburi3 said: Did it really say that? Transferwise ceased being the name long ago. It is Wise now. Did someone really use "Transferwise" as the name in a receipt? Kbank did last week 27nov credit advice doc Link to comment Share on other sites More sharing options...
JimGant Posted December 2, 2021 Share Posted December 2, 2021 1 hour ago, mavi said: Your opinion. I won't detail because you do not deserve it, Weird dude. 1 Link to comment Share on other sites More sharing options...
86Tiger Posted December 2, 2021 Share Posted December 2, 2021 Back to OP original problem: Bank of America has evidently made changes. I have had BofA visa card for over 30 years. Used it extensively and exclusively overseas since 2004. There would occasionally be a problem that could be resolved with simple phone call. As I was overseas, they had given me a number a real person would answer that could fix whatever issue I had in couple minutes. It had been dream service for many years. As of May that number no longer rings a real person. It goes to the recorded menu he!! of every other customer service number. And of course, the person that eventually does answer the phone reads from script because every single one goes through the exact same steps. Needless to say I can no longer get issues resolved in couple minutes. As matter of fact my card has been locked since July. I must go to a BofA branch with 2 forms of ID in order to get it unlocked. They will not even discuss it any further. So, I haven't been to US in over 2 years, don't have any idea when I will be back and there are no branches outside of US. That card {may as well say that bank} is absolutely useless. Moral of the story: Get away from all the mega banks where you are nothing but another account number. Use a small bank that wants your business. Get to know the people that work there. Send them Christmas gifts so they remember you. Establish a relationship with small bank and you can do anything you need with a phone call. 1 Link to comment Share on other sites More sharing options...
GrandPapillon Posted December 2, 2021 Share Posted December 2, 2021 small banks get bought out quickly by big banks, so same big loss at the end banking is a compliance business now, and it's getting expensive for banks to manage accounts, thanks to regulators and their obsession with ML Link to comment Share on other sites More sharing options...
KannikaP Posted December 2, 2021 Share Posted December 2, 2021 (edited) 3 hours ago, mavi said: Your opinion. I won't detail because you do not deserve it, but their process suxx and as soon as there is anything a bit different, it fails. They needed 3 weeks to be able to transfer me the money that was already in their account !!! Then keep thinking as a champion who knows everything until life proves you different... And my transfer started yesterday morning at 06.30, arrived as an FTT in my Bangkok Bank at 14.02 as usual. I would suggest there is something wrong on your bank or Wise account. Edited December 2, 2021 by KannikaP Link to comment Share on other sites More sharing options...
bunnydrops Posted December 2, 2021 Share Posted December 2, 2021 On 12/1/2021 at 12:59 AM, pgrahmm said: Does texting/sms - them to you work? For the OTC? Yes, It seems that almost all my online accounts require double security now. It does support the 3 digit sms that I know some text services do not support. 1 Link to comment Share on other sites More sharing options...
johnno2 Posted December 3, 2021 Share Posted December 3, 2021 22 hours ago, KannikaP said: And my transfer started yesterday morning at 06.30, arrived as an FTT in my Bangkok Bank at 14.02 as usual. I would suggest there is something wrong on your bank or Wise account. I have been using transferwise (wise) for years. I never had a problem until my transfer I sent yesterday from my Australian bank to my thai UOB account. It's been over 2 days now and I'm no closer to getting my money. Today, transferwise is saying a transfer sent today won't be paid out until 7 dec 1 Link to comment Share on other sites More sharing options...
GrandPapillon Posted December 3, 2021 Share Posted December 3, 2021 yeah, a lot is going on with THB transfer. Maybe too many "cryptos" traders are trying to hide their cash in Thailand? and international bankers are putting a block? ???? Link to comment Share on other sites More sharing options...
johnno2 Posted December 3, 2021 Share Posted December 3, 2021 47 minutes ago, johnno2 said: I have been using transferwise (wise) for years. I never had a problem until my transfer I sent yesterday from my Australian bank to my thai UOB account. It's been over 2 days now and I'm no closer to getting my money. Today, transferwise is saying a transfer sent today won't be paid out until 7 dec Update, finally got my money just now, transfer took over 2 days. I emailed, used their chat facility, rang "australia WISE", (I think it's just a call centre) and their UK call centre. Just for a laugh, I went back to the WISE app and set up another transfer and the transfer time was "in seconds". The transfer I set up on Wednesday said 6 hours which changed to 18 hours after I funded it. Something very weird is going on with WISE 1 Link to comment Share on other sites More sharing options...
johnno2 Posted January 5, 2022 Share Posted January 5, 2022 Time to make the monthly WISE transfer. Went to the app and set it up, was advised it would be a "next day" transfer, 6 Jan. I can live with that. Went to my oz bank webpage and transferred the money to WISE as normal. Go back to the WISE app and notify them the money has been transferred and then the payment date changes to a 2 day transfer, I can't live with that. I ring the call centre, "oh yes, that first notification is just an estimate." Ummm no, that used to be the time the transfer will be completed by. I have had many previous transfers that were completed in seconds. I bank locally with UOB. Have for years without previous problems. Don't know if they are now the problem, I would appreciate hearing if anyone is having similar WISE transaction time problems. Link to comment Share on other sites More sharing options...
kwak250 Posted May 27, 2022 Share Posted May 27, 2022 I usually use Halifax to transfer money to my Thai Bank and its about £9.95 standard fee for any amount but Wise is cheaper if your only sending £1000 but when you send about £2000 upwards it tends to charge more last time it was £16 but then Wise is super quick if you need cash quick Is this what other people are finding as larger amounts are much cheaper using a bank even though Wise say i saved up to £72 total bs Link to comment Share on other sites More sharing options...
phetphet Posted May 27, 2022 Share Posted May 27, 2022 On 12/2/2021 at 9:43 AM, KannikaP said: It does on AIS. +1. Link to comment Share on other sites More sharing options...
lopburi3 Posted May 27, 2022 Share Posted May 27, 2022 6 minutes ago, kwak250 said: I usually use Halifax to transfer money to my Thai Bank and its about £9.95 standard fee for any amount but Wise is cheaper if your only sending £1000 but when you send about £2000 upwards it tends to charge more last time it was £16 but then Wise is super quick if you need cash quick Is this what other people are finding as larger amounts are much cheaper using a bank even though Wise say i saved up to £72 total bs True if: You send foreign currency for exchange in Thailand rather than using normal very bad baht rate in home country. Remember Wise exchange rate is normally higher than bank rate - there is no fee at Thai bank (other deposits attract 1/4 percent in range 200-500 baht normally) - there is no intermediate bank fee. So actual break even point may be a bit higher than it first appears - but yes larger amounts are often best to send direct SWIFT. 1 Link to comment Share on other sites More sharing options...
KannikaP Posted May 27, 2022 Share Posted May 27, 2022 1 hour ago, kwak250 said: I usually use Halifax to transfer money to my Thai Bank and its about £9.95 standard fee for any amount but Wise is cheaper if your only sending £1000 but when you send about £2000 upwards it tends to charge more last time it was £16 but then Wise is super quick if you need cash quick Is this what other people are finding as larger amounts are much cheaper using a bank even though Wise say i saved up to £72 total bs A SWIFT transfer is a fixed price from the sending bank, be it £1 or £100,000. Wise's charges are a percentage of what you send. And you are correct, there comes a point where the SWIFT is cheaper. Link to comment Share on other sites More sharing options...
treetops Posted May 27, 2022 Share Posted May 27, 2022 12 hours ago, kwak250 said: I usually use Halifax to transfer money to my Thai Bank and its about £9.95 standard fee for any amount but Wise is cheaper if your only sending £1000 but when you send about £2000 upwards it tends to charge more last time it was £16 but then Wise is super quick if you need cash quick Is this what other people are finding as larger amounts are much cheaper using a bank even though Wise say i saved up to £72 total bs Did you let Halifax do the currency exchange and have THB deposited in your Thai bank or did you send GBP and let the Thai bank do the exchange. Either way there will be other costs over and above the £9.95 fee you mentioned. There will likely be a point where Halifax will be cheaper, but I'm pretty sure it's a lot higher then £2,000. Link to comment Share on other sites More sharing options...
Chivas Posted May 28, 2022 Share Posted May 28, 2022 (edited) 13 hours ago, treetops said: Did you let Halifax do the currency exchange and have THB deposited in your Thai bank or did you send GBP and let the Thai bank do the exchange. Either way there will be other costs over and above the £9.95 fee you mentioned. There will likely be a point where Halifax will be cheaper, but I'm pretty sure it's a lot higher then £2,000. The most Wise can do in a single landing transcation is 2 million baht so lets use £45,000 as a direct comparison Now that gives a real time landing amount of 1,928,555 which includes the £233.58 fee....sounds high at first impression I agree Now lets assume its my own bank SCB thats used for landing and we'll use that Halifax example of £10 to send no matter what the amount and maximum landing fee of 500 Baht (call it £12) so in total £22 of fees Remember with Wise there is no landing fee If we go to SCB website and look for Telegraphic Transfer rate its 42.66625 thats close of business last night so direct comaprison with Wise's Multiply the £44,978 (remember we've got £22 of fees) by 42.66625 and that equates to a landing of 1,919,042 Baht some 9,000 baht less than using Wise despite their fee of £233.58 as opposed to Halifax £10 Simple reason Wise is using full interbank at 43.08 SCB/Halifax are using 42.66625 as standard TT rate always but always less than full interbank So when you crunch the numbers (at £45,000) Wise still comes out about the equivalent of £200 better off on the bottom line Its all about what lands in the receiving account not the fees 99.9% of all transfers most of us would do here on regular basis will be less that £45,000 as well WISE WISE WISE every time Edited May 28, 2022 by Chivas 2 Link to comment Share on other sites More sharing options...
Chivas Posted May 28, 2022 Share Posted May 28, 2022 On 5/27/2022 at 7:34 AM, KannikaP said: A SWIFT transfer is a fixed price from the sending bank, be it £1 or £100,000. Wise's charges are a percentage of what you send. And you are correct, there comes a point where the SWIFT is cheaper. I refer you to the above post..... Link to comment Share on other sites More sharing options...
scubascuba3 Posted May 28, 2022 Share Posted May 28, 2022 (edited) 23 minutes ago, Chivas said: The most Wise can do in a single landing transcation is 2 million baht so lets use £45,000 as a direct comparison Now that gives a real time landing amount of 1,928,555 which includes the £233.58 fee....sounds high at first impression I agree Now lets assume its my own bank SCB thats used for landing and we'll use that Halifax example of £10 to send no matter what the amount and maximum landing fee of 500 Baht (call it £12) so in total £22 of fees Remember with Wise there is no landing fee If we go to SCB website and look for Telegraphic Transfer rate its 42.66625 thats close of business last night so direct comaprison with Wise's Multiply the £44,978 (remember we've got £22 of fees) by 42.66625 and that equates to a landing of 1,919,042 Baht some 9,000 baht less than using Wise despite their fee of £233.58 as opposed to Halifax £10 Simple reason Wise is using full interbank at 43.08 SCB/Halifax are using 42.66625 as standard TT rate always but always less than full interbank So when you crunch the numbers (at £45,000) Wise still comes out about the equivalent of £200 better off on the bottom line Its all about what lands in the receiving account not the fees 99.9% of all transfers most of us would do here on regular basis will be less that £45,000 as well WISE WISE WISE every time you can't accurately compare as exchange rates are on different days, usually a few days apart. Thing is chivas won't understand that Edited May 28, 2022 by scubascuba3 Link to comment Share on other sites More sharing options...
Stocky Posted May 28, 2022 Share Posted May 28, 2022 On 5/27/2022 at 1:34 PM, KannikaP said: And you are correct, there comes a point where the SWIFT is cheaper. Depends on the currency you are transferring. I've run the numbers for both GBP and SGD - and Wise wins regardless the amount being transferred because of the difference in the x-rates offered. But for USD, yes there is a cut-off at 10k, above which SWIFT is cheaper; this time because the margin on USD x-rates gives Wise less advantage over the banks. 1 Link to comment Share on other sites More sharing options...
Chivas Posted May 28, 2022 Share Posted May 28, 2022 (edited) 1 hour ago, scubascuba3 said: you can't accurately compare as exchange rates are on different days, usually a few days apart. Thing is chivas won't understand that lol fella after 38 years in finance I think I know what I'm talking about Now because you need educating sadly (yet again) of course its hard to give an absolute hard guarantee but the only way you can take a reasonable impression of the bottom line is to use the Live TT rate on any given day and time and compare it to Wise Do it on Monday at 12 noon and report back..... Of course using Swift it could be even worse should the TT rate decline in the interim although of course it could improve as well TT rates are live when they're updated in real time and as we know Wise is live 24/7....thats the only comparison you can make You're splitting hairs and you know it only too well Out..... Edited May 28, 2022 by Chivas Link to comment Share on other sites More sharing options...
ukrules Posted May 28, 2022 Share Posted May 28, 2022 (edited) On 12/1/2021 at 12:06 PM, pgrahmm said: Wise cost about $27.00 - direct banking app bank to bank transfer $90.00.... Ok, I see the problem here - you need a new bank and almost certainly a working mobile phone number back in your origin country / countries. Edited May 28, 2022 by ukrules Link to comment Share on other sites More sharing options...
scubascuba3 Posted May 28, 2022 Share Posted May 28, 2022 26 minutes ago, Chivas said: lol fella after 38 years in finance I think I know what I'm talking about Now because you need educating sadly (yet again) of course its hard to give an absolute hard guarantee but the only way you can take a reasonable impression of the bottom line is to use the Live TT rate on any given day and time and compare it to Wise Do it on Monday at 12 noon and report back..... Of course using Swift it could be even worse should the TT rate decline in the interim although of course it could improve as well TT rates are live when they're updated in real time and as we know Wise is live 24/7....thats the only comparison you can make You're splitting hairs and you know it only too well Out..... Glad you agree, your example was flawed, different exchange rates different days, can only compare Wise Vs day swift would settle and that comparison will change everytime Link to comment Share on other sites More sharing options...
KannikaP Posted May 28, 2022 Share Posted May 28, 2022 (edited) 1 hour ago, Chivas said: lol fella after 38 years in finance I think I know what I'm talking about Now because you need educating sadly (yet again) of course its hard to give an absolute hard guarantee but the only way you can take a reasonable impression of the bottom line is to use the Live TT rate on any given day and time and compare it to Wise Do it on Monday at 12 noon and report back..... Of course using Swift it could be even worse should the TT rate decline in the interim although of course it could improve as well TT rates are live when they're updated in real time and as we know Wise is live 24/7....thats the only comparison you can make You're splitting hairs and you know it only too well Out..... All that really matters is how much you finally get for your transfer, disregarding any charges, fees, exchange rates, time of day, years in the finance 'business' or the price of bacon! 555 So the only way to determine the best way is to do two simultaneous transfers, one with Wise and the other via Swift and see which comes out best. Edited May 28, 2022 by KannikaP Link to comment Share on other sites More sharing options...
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