Wise - anyone else experiences delays on money transfers from UK

[skorts]

I have been a Wise customer (previously TransferWise) for many years. Over that time I have transferred a significant amount from my U.K. bank account to my Bangkok Bank account. I also add money to my Wise Visa debit card regularly too. 
Over the last few months (probably a coincidence but it seems to be around the time they changed their name to Wise) the time taken for the funds to arrive in my account has increased significantly. 
I know to avoid weekends - Friday to Sunday but now even mid-week transfers can take up to several days to reach my account. 
The funds are usually added to my Wise Visa card immediately but if I then try and transfer money from there it can also take up to several days to reach the recipient bank account. 
I have raised my issues with Wise but am left without a reasonable explanation each time by the same agent despite asking them to escalate my concerns. 
Before each transfer the system says on two separate occasions the funds will arrive in a few seconds (sometimes a few minutes) but once you confirm the transaction the system them says the transfer is taking longer to pay out and they need more time. 
I believe this is misleading customers and makes planning transfers very difficult. 
Wise said the time it takes to transfer is based on these four things:

1. The countries you’re sending from and to.
2. How you pay.
3.What time you pay for your transfer
4. Security checks.
 

1. They know the country before the transfer is confirmed 

2. My payment is always the same manual bank transfer via Faster Payments and arrives in their account instantly

3. Time of transfer - always done Thai morning time so ready to process start of U.K. banking hours each time

4. Security checks - I have been a Wise customer for many years using the same U.K. and Thai bank account, have transferred significant amounts during this time and carry out multiple transfers each month. 
 

I think there are other reasons for the delays but Wise are not telling me. 

 

I have signed up to Revolut and got an account and a virtual visa debit card within seconds. Very easy to use but it is a little more expensive than Wise. 
Would appreciate other people’s experiences with Wise or Revolut. 

[Swiss1960]

Amounts below 49K THB get processed immediately. 

[skorts]

7 minutes ago, Swiss1960 said:

Amounts below 49K THB get processed immediately. 

They might get processed immediately but they do not arrive in my account for up to several days. 

[scubascuba3]

I suspect they are doing checks on you as for everyone else it settles same day or next day 2pm

[The Hammer2021]

Yes. This subject is widely  explored in other threads. Sometimes  mine take days but only once in seconds. Send less than 50k baht and send mid week early  afternoon  Thai  time for faster delivery

[The Hammer2021]

29 minutes ago, Swiss1960 said:

Amounts below 49K THB get processed immediately. 

Not true.  Sometimes but not always. Depends on the time or day. Mine usually  take several  days. Only once in seconds

[CharlieH]

MOVED  to Banking forum.

[BritManToo]

3 hours ago, skorts said:

They might get processed immediately but they do not arrive in my account for up to several days. 

Transferred 1000 pounds on the 5th at 8:30am.

Arrived in my BKB account at 2pm on the same day (marked FTT).

[JAS21]

You must be really unlucky. I always order in the evening Thai time and pay immediately by bank transfer. Without fail it is always in my BB account shortly after 2pm the next day. 
 

It makes no difference whether it is my monthly 65,100 transfer from the UK or the much larger transfer that I did yesterday.

 

And always shows International Transfer on my phone and later FTT in my bank book.

 

 

[treetops]

If you want it quickly don't use the reason for transfer of Funds for long stay or Buying property (or words similar) as these transfers go through a different (slower) process to ensure they arrive with the international transfer "stamp".  These are the ones mentioned that arrive at 2:00pm or shortly after into a Bangkok Bank account.

[Henryford]

I have done about 50 WISE transfers and for the first time on Friday i got an "instantaneous" transfer, in my bank within 10 seconds.

[KannikaP]

On 1/7/2022 at 5:04 PM, The Hammer2021 said:

Not true.  Sometimes but not always. Depends on the time or day. Mine usually  take several  days. Only once in seconds

And it depends on whether or not your Thai bank (Bkk Bank) is TAGGED to show as an International Transfer, as has been said so many times before.

[KannikaP]

27 minutes ago, Henryford said:

I have done about 50 WISE transfers and for the first time on Friday i got an "instantaneous" transfer, in my bank within 10 seconds.

But not as an International Transfer, if that is what you need for Immigration.

[JAS21]

On 1/7/2022 at 5:04 PM, The Hammer2021 said:

Not true.  Sometimes but not always. Depends on the time or day. Mine usually  take several  days. Only once in seconds

Interesting point…I always make my transfers in the evening … I have never received one of these ‘next second’ transfers … always 2pm next day

[Chivas]

RBS or Halifax in UK to SCB

 

Immediately lands in SCB apart from just 1 occasion where it took two hours or so..... by the time I've entered the 6 digit number into app money has already landed

 

Even sending on a Saturday was instant.

[Henryford]

1 hour ago, KannikaP said:

But not as an International Transfer, if that is what you need for Immigration.

Well i used the "For Long Term Funds in Thailand" tag on the transfer but i have given up using transfers for Immigration. I don't always get the FTT in my book.

[Blue Muton]

I did a transfer a couple of days ago. for a couple of hours after my money was transfered to Wise they had a status of "delayed", but that was it. 

 

I conducted the transaction on the Wise site on Wednesday evening, having already instructed my UK bank to transfer funds to Wise on Thursday. the money was in my Thai bank late on Thursday morning Thai time.

[treetops]

3 hours ago, JAS21 said:

Interesting point…I always make my transfers in the evening … I have never received one of these ‘next second’ transfers … always 2pm next day

2pm deposit usually means you've had your account tagged to use BBL as the transfer partner or you've used one of the reasons mentioned above to get the international "stamp".

[billd766]

3 hours ago, KannikaP said:

But not as an International Transfer, if that is what you need for Immigration.

For the Immigration office at Kamphaeng Phet they have accepted BBK statement showing an international transfer coming from Wise and an internal transfer when I move it from BBK to KBank.

[ivor bigun]

Hit and miss ,last month arrived in seconds ,this month be here on teusday .sent yesterday .

[JAS21]

56 minutes ago, treetops said:

2pm deposit usually means you've had your account tagged to use BBL as the transfer partner or you've used one of the reasons mentioned above to get the international "stamp".

Both….

[skorts]

Thanks everybody for your responses to my original post. I am transferring from a U.K. bank to Bangkok Bank and mark the transfers as “For Long Term Funds in Thailand".

I will try transferring to SCB instead and not mark as “For Long Term Funds in Thailand" (I don’t need for Immigration) and see how that goes. 
Sounds like it might resolve my delays. 

[bignbad]

I just transferred  2,000GBP to K bank, took 5 seconds

[petermik]

7 hours ago, bignbad said:

I just transferred  2,000GBP to K bank, took 5 seconds

same same yesterday for me 6000 GBP from Halifax UK Bank to K Bank in under 1 minute.

[Madgee]

I've used Wise for years and only once had a slight problem with wrong coding , about the same time many others had the same problem. Wise then added the 'long term stay in Thailand' added to their drop down list of reasons for transfer. Since then, FTT code has always been the norm. UK bank to Bangkok bank.

 

On Saturday I done a large transfer of £10,000.  Wise informed me it wouldn't arrive until 10am Tuesday (today). It arrived at 7am. Went to the bank to sort some things out and update my book, it showed as a SMT code! 

Makes no difference to me but Wise are not as reliable as they once were. IMHO.

[skorts]

6 minutes ago, Madgee said:

I've used Wise for years and only once had a slight problem with wrong coding , about the same time many others had the same problem. Wise then added the 'long term stay in Thailand' added to their drop down list of reasons for transfer. Since then, FTT code has always been the norm. UK bank to Bangkok bank.

 

On Saturday I done a large transfer of £10,000.  Wise informed me it wouldn't arrive until 10am Tuesday (today). It arrived at 7am. Went to the bank to sort some things out and update my book, it showed as a SMT code! 

Makes no difference to me but Wise are not as reliable as they once were. IMHO.

I agree. I have been a customer for years and recently their service has definitely deteriorated including their customer service. 

[skorts]

24 minutes ago, petermik said:

same same yesterday for me 6000 GBP from Halifax UK Bank to K Bank in under 1 minute.

I think the problem I have is transferring to Bangkok Bank with reason as “Long Term Stay in Thailand”. Next time I will try transferring to SCB with reason “General Monthly Living Expenses” and see how long that takes. 

[scubascuba3]

1 hour ago, skorts said:

I think the problem I have is transferring to Bangkok Bank with reason as “Long Term Stay in Thailand”. Next time I will try transferring to SCB with reason “General Monthly Living Expenses” and see how long that takes. 

If you choose BB or SCB and don't select long term stay or buying a property it won't settle at 2pm, could even be instant.

 

Funny though, back in the day when everyone used swift they didn't moan that it took several days, but with Wise if its next day they moan

[Chivas]

5 minutes ago, scubascuba3 said:

If you choose BB or SCB and don't select long term stay or buying a property it won't settle at 2pm, could even be instant.

 

Funny though, back in the day when everyone used swift they didn't moan that it took several days, but with Wise if its next day they moan

Agreed reference last sentence but for about the 247th time (thats not aimed at you Scuba as such)  it makes absolutely no difference what you put as the reason for sending as regards the landing time

 

It is entirely down to audit control for Transferwise should a financial investigation into a client be required by a judge for any number of reasons for example money laundering

 

Any differential in landing times is purely coincidental no matter what some claim......If Wise are entering a code on the transfer to make it easier for expats to show monthly income thats excellent but it still makes zero difference to the landing time

 

It doesn't chaps I assure you. After 37 years in finance I do know a little bit lol

[scubascuba3]

6 minutes ago, Chivas said:

Agreed reference last sentence but for about the 247th time (thats not aimed at you Scuba as such)  it makes absolutely no difference what you put as the reason for sending as regards the landing time

 

It is entirely down to audit control for Transferwise should a financial investigation into a client be required by a judge for any number of reasons for example money laundering

 

Any differential in landing times is purely coincidental no matter what some claim......If Wise are entering a code on the transfer to make it easier for expats to show monthly income thats excellent but it still makes zero difference to the landing time

 

It doesn't chaps I assure you. After 37 years in finance I do know a little bit lol

You don't seem to know the latest from Wise, look it up i posted a thread a couple weeks ago. Drop down menu is now important again