Problems with wise

[sirineou]

A warning to all of those who use wise. If you need the funds you are transferring expedited in a timely maner, make sire you have verified your address on file , with Wise. 

After using Wise for about a year, making dozens of transactions and having no problems we proceeded to make a transfer yesterday. Over 24 hrs the funds had not arrived in our bank account, and we checked in our wise account to see the status, in the mean time the funds had been deducted from our US bank by Wise.

In our wise account we saw that the transaction was paused. We called Wise  to see why they had deducted the funds but had paused the transfer. We were on hold for close to an hour,   finally got a Wise agent on the phone. He said that the transfer was paused because we needed to verify the address on file.

I said , we have been using the service for close to a year and have already transferred thousands of dollar.

He smugly said " you need to verify  your address. 

How do we do that we inquired.

He gave as a list of documents. Telephone bill with address. Electric bill with address etc, None of which we have with us in Thailand, finally we . after asking we were told that A US drivers license with the address and picture was acceptable.  

And said he will send us an Email with instructions on how to send them the required documents. 

The E-mail we got was very confusing , It was asking us to send $20  , we tried to send them the $20 but those transactions were also paused. Of course because the needed our address verified LOL

So we called Wise again , were again on hold for close to hour, I guess we were not the only ones having problems. 

New Wise agent, much more helpful,  resend the correct email and after walking us through we were able to upload two picture, one of the wife holding the drivers license, and one of the drivers license along. 

Then we were told that these documents will have to be verified by the verification team, 

I ask how long will this take?

He said can take UP to two days. 

You kidding me I said. How about we cancel the transaction , you return our money and we find a different service to transfer funds. 

How long will it take for our funds to be credited back to our account?

She says up to five working days ,so we the weekend in a couple of days could take 7 calendar days. 

So we decided not to cancel the transaction give it a couple days more and see what happens. 

But if we needed the funds we would had been screwed. 

So a warning to all who use Wise, 

[BritManToo]

Our Wise account?

I thought these were single name accounts?

Why would they want a photo of your wife holding a document?

 

I had to do a verification when I opened the account.

Think it was a photo of my passport and 3BB bill.

Did a transfer this morning (65Kbht) at 8am, arrived in my BKB account this afternoon at 2pm marked 'Foreign transfer'

 

Best not to let all your money run out.

I keep 10 months living expenses in my Thai bank account, and just top up every month.

No point in living on the edge ....... especially if there's a war about to start.

Edited March 2, 2022 by BritManToo

[scubascuba3]

That will be a big problem if they request that from everyone. Many won't have an address back home

[CharlieH]

Moved to BANKING forum

[Adumbration]

Hopefully wise won't head down the same road a PayPal.  If it does I will have to leave the Kingdom.

[KannikaP]

27 minutes ago, scubascuba3 said:

That will be a big problem if they request that from everyone. Many won't have an address back home

I guess they are wanting the address at which your US bank is registered.

Same as BritMan, I did a transfer UK Bank to Bkk Bank on Monday and it arrived as advised as an FTT.

[grin]

I had to reverify my Schwab checking account on Wise yesterday. Same account that I have been using with them for years. The verification page wouldn't load, kept getting a spinning circle. Finally reconnected using VPN and was able to reverify my bank account and the transaction went through in the normal amount of time.

[sirineou]

35 minutes ago, BritManToo said:

Our Wise account?

I thought these were single name accounts?

Why would they want a photo of your wife holding a document?

 

I had to do a verification when I opened the account.

Think it was a photo of my passport and 3BB bill.

Did a transfer this morning (65Kbht) at 8am, arrived in my BKB account this afternoon at 2pm marked 'Foreign transfer'

 

Best not to let all your money run out.

I keep 10 months living expenses in my Thai bank account, and just top up every month.

No point in living on the edge ....... especially if there's a war about to start.

It is our account, but it is Under my wife's name. , We do not live on the edge but we transfer a certain amount every month into my personal account in case I ever needed to do an extension to stay using the income method. 

As I said and I quote " But if we needed the funds we would had been screwed."

As I said, we have been Using Wise to make transfers for close to a year, and have already made dozens of transactions . So our application was in order. 

I don't know what you did when you applied, but what I described is exactly how it happened unless you are suggesting that I am lying. or hallucinating . 

[JAS21]

13 minutes ago, KannikaP said:

I guess they are wanting the address at which your US bank is registered.

Same as BritMan, I did a transfer UK Bank to Bkk Bank on Monday and it arrived as advised as an FTT.

I recall Tansferwise saying that at sometime I would have to 'verify'. Did it shortly after.

 

Again no problem with monthly transfer .. ordered yesterday evening, and at exactly 2pm today the 65,100thb arrived in my BB A/C.

[sirineou]

41 minutes ago, scubascuba3 said:

That will be a big problem if they request that from everyone. Many won't have an address back home

I don't think it necessarily has to be an address  back home, but rather the address you have on file with them, So it can be an address in Thailand or anywhere else, We have out US address on file because we maintain a residence there, and when Travel was easier before covid we traveled back and forth  often. 

[sirineou]

I simply wanted to give a heads up, with my OP so that others would not have to go through the same hassle  we went, at  their time of need , check to see if they need to verify their address    and if need be do it at their convenience and not when they have to.  

[OJAS]

29 minutes ago, KannikaP said:

I guess they are wanting the address at which your US bank is registered.

Same as BritMan, I did a transfer UK Bank to Bkk Bank on Monday and it arrived as advised as an FTT.

I actually wonder from the wording of his post whether @BritManToo in fact initiated a transfer from a Borderless account rather a UK bank account. Like you I initiated a UK bank to BKKB transfer yesterday, which duly showed up in my BKKB account coded FTT bang on the dot at 14:00 today.

 

I don't have a Borderless account, and shall definitely not be rushing to open one now if transfers from it, or into it, entail having to surmount a number of nonsensical bureaucratic hoops each time.

 

@sirineou - could you please clarify whether your problems with Wise have arisen from a transfer from your US bank to a Wise Borderless account or directly to a Thai bank account?

 

Edited March 2, 2022 by OJAS

[sirineou]

5 minutes ago, OJAS said:

could you please clarify whether your problems with Wise have arisen from a transfer from your US bank to a Wise Borderless account or directly to a Thai bank account?

The transfer was directly to my personal account in Thailand , from our joint bank account in the US via Wise. 

I make a transfer at least once a month to maintain a monthly income record in case I need to draw down the funds in my Thai saving account, and need to do an extension using the income method.

PS: I have never done an extension using the income method as we have adequate funds in saving , so I am not sure if the Wise transfer method would be adequate, but I have been choosing the "for long stay" option from the reason for transfer drop down window, I believe it's the last option, as I was instructed to do my others in this forum. 

[KannikaP]

39 minutes ago, OJAS said:

I actually wonder from the wording of his post whether @BritManToo in fact initiated a transfer from a Borderless account rather a UK bank account. Like you I initiated a UK bank to BKKB transfer yesterday, which duly showed up in my BKKB account coded FTT bang on the dot at 14:00 today.

 

I don't have a Borderless account, and shall definitely not be rushing to open one now if transfers from it, or into it, entail having to surmount a number of nonsensical bureaucratic hoops each time.

 

@sirineou - could you please clarify whether your problems with Wise have arisen from a transfer from your US bank to a Wise Borderless account or directly to a Thai bank account?

 

I have a Borderless account with both GBP & THB. I have done transfers from my UK bank in GBP into it, and THB to  Bkk Bank from each of them, taking the same time and arriving as an FTT at Bkk Bank. 

I seem to remember 'verifying' my account when I opened it 4 years ago.

Edited March 2, 2022 by KannikaP

[BritManToo]

10 hours ago, OJAS said:

I actually wonder from the wording of his post whether @BritManToo in fact initiated a transfer from a Borderless account rather a UK bank account. Like you I initiated a UK bank to BKKB transfer yesterday, which duly showed up in my BKKB account coded FTT bang on the dot at 14:00 today.

I do an instant bank transfer from my UK bank acc  (phone app).

Then a transfer from my Wise acc (phone app) to my BKB acc.

Edited March 3, 2022 by BritManToo

[KannikaP]

1 hour ago, BritManToo said:

I do an instant bank transfer from my UK bank acc  (phone app).

Then a transfer from my Wise acc (phone app) to my BKB acc.

Isn't that the way all transfers are done whether using a Borderless Account or not, money goes from UK/USA/EU/AU bank to Wise, and they send it to wherever you tell them. There may be different time restraints in some cases.

[OJAS]

14 hours ago, sirineou said:

A US drivers license with the address and picture was acceptable.

Out of curiosity do the powers-that-be who are responsible for issuing driving licences in the USA allow you to register it with a Thai address? This is not permitted in the case of us Brits, with the result that my British licence was still registered at my old UK address until it expired on my 70th birthday 2.5 years ago!

[RichardColeman]

Probably not wise but I really am tired of my bank going no further than this when linked from wise for 30 minutes. Oh, well , try later I guess - even though it shows no problems with the bank

 

 

[scubascuba3]

2 hours ago, KannikaP said:

Isn't that the way all transfers are done whether using a Borderless Account or not, money goes from UK/USA/EU/AU bank to Wise, and they send it to wherever you tell them. There may be different time restraints in some cases.

The difference is with borderless accounts you could have made the transfer days\weeks ago

[sirineou]

2 hours ago, OJAS said:

Out of curiosity do the powers-that-be who are responsible for issuing driving licences in the USA allow you to register it with a Thai address? This is not permitted in the case of us Brits, with the result that my British licence was still registered at my old UK address until it expired on my 70th birthday 2.5 years ago!

No , My wife's US drivers license has a US address. In the US There are different  driver licences for every state. Ours if Florida, to get a Florida  driver's license you have to provide proof of residency in FL , and a FL address , all mail from the DMV is delivered to that FL address, even if you have your mail forwarded certain mail that id address sensitive such as drivers license , voter registration, IRS etc. does not get forwarded and is delivered at the address of record.  With Wise we have maintained or US address as our address of record with them, because we got stuck in the US for about two years with the pandemic, and when we registered with them and started using their service we were in the US. But since last May we have returned to Thailand but have not changed out address of record with Wise. 

 

[KannikaP]

2 hours ago, scubascuba3 said:

The difference is with borderless accounts you could have made the transfer days\weeks ago

I do not see the difference between doing a one-off payment to Wise via Credit or Debit Card or Bank Transfer just as you do a THB transfer, or building up a GBP balance in say four different weekly payments and then doing the transfer.

I have actually built up a THB balance in my Borderless account when the exchange rate was favourable, and then done a THB-THB transfer to my Bkk Bank. It still gets there the next day as an FTT.

[RichardColeman]

For anyone interested in wise currently, just got this on a sending 2 hours ago.

 

Hello XXXX, Sorry, it’s looking like your transfer of GBP to THB will arrive later than expected. Lots of people are using Wise at the moment, so it’s taking us longer to process transfers. It should now arrive on March 04, at 07:07 UTC. We’ll let you know the moment your money’s on its way — and sorry again for the wait.

[scubascuba3]

2 minutes ago, KannikaP said:

I do not see the difference between doing a one-off payment to Wise via Credit or Debit Card or Bank Transfer just as you do a THB transfer, or building up a GBP balance in say four different weekly payments and then doing the transfer.

I have actually built up a THB balance in my Borderless account when the exchange rate was favourable, and then done a THB-THB transfer to my Bkk Bank. It still gets there the next day as an FTT.

One difference I've encountered is GBP transfer is delayed by Santander, it leaves my bank account but isn't sent to Wise instead goes into some kind of wash account for checking. This probably happens with all banks and many customers who won't be aware, they just moan their receipt of THB is delayed

[KannikaP]

1 minute ago, scubascuba3 said:

One difference I've encountered is GBP transfer is delayed by Santander, it leaves my bank account but isn't sent to Wise instead goes into some kind of wash account for checking. This probably happens with all banks and many customers who won't be aware, they just moan their receipt of THB is delayed

Do payments between UK banks not go via the Faster Payments system.?

I send from Nationwide to Wise Borderless and it is virtually immediate, maybe one minute, and vice versa, Wise to N'wide.

[LarrySR]

Recently, WISE needed to see my passport with selfie and proof of my Thai address such as utility bill.

[treetops]

48 minutes ago, KannikaP said:

I do not see the difference between doing a one-off payment to Wise via Credit or Debit Card or Bank Transfer just as you do a THB transfer, or building up a GBP balance in say four different weekly payments and then doing the transfer.

I have actually built up a THB balance in my Borderless account when the exchange rate was favourable, and then done a THB-THB transfer to my Bkk Bank. It still gets there the next day as an FTT.

You say you don't see the difference then you describe the difference!

 

Holding different currencies within a Borderless Account with Wise gives you the ability to transfer at a more favourable exchange rate.

 

It also means you are not reliant on your bank's IT system being functional at a specific point in time.

[billd766]

17 hours ago, sirineou said:

I don't think it necessarily has to be an address  back home, but rather the address you have on file with them, So it can be an address in Thailand or anywhere else, We have out US address on file because we maintain a residence there, and when Travel was easier before covid we traveled back and forth  often. 

My address with Wise to transfer funds to Thailand is my address here in Thailand. When I transferred funds from Thailand to the UK they insisted that I must have a UK address. I gently pointed out to the BBK lady that I have no UK address as I left the UK in 1999.

If they wished I could give them 2 addresses in NZ, 1 for PNG, 1 for Bangladesh, 2 for Pakistan etc but for Wise the address on record is my Thai address, as is my Thai driving licence, the Thai Post office, my 3 pensions and the Inland Revenue in the UK, she gave up and processed the transfer and surprise surprise (to her) it went through.

[scubascuba3]

1 hour ago, KannikaP said:

Do payments between UK banks not go via the Faster Payments system.?

I send from Nationwide to Wise Borderless and it is virtually immediate, maybe one minute, and vice versa, Wise to N'wide.

Usually they are instant and Wise confirms receipt but on one occasion when Santander had a lot of transfers going to Wise they put the brakes on, one guy was trying to send 80x£1k. So delays can happen probably with all banks especially when they are hotting up with anti money laundering

Edited March 3, 2022 by scubascuba3

[KhunBENQ]

18 hours ago, BritManToo said:

I had to do a verification when I opened the account.

Think it was a photo of my passport and 3BB bill.

Sure. Financial institutions have to verify identity and address.

Verifying my address in Thailand was not that easy (all I have is in Thai script).

At another transfer service (Azimo) I failed (company pension letter not good enough).

Finally a letter from my German bank to Thai address did the job.

 

There was never a word about "home address". My address is in Thailand.

 

Edited March 3, 2022 by KhunBENQ

[foreverlomsak]

18 hours ago, grin said:

I had to reverify my Schwab checking account on Wise yesterday. Same account that I have been using with them for years. The verification page wouldn't load, kept getting a spinning circle. Finally reconnected using VPN and was able to reverify my bank account and the transaction went through in the normal amount of time.

I always transfer the money from my UK account to Wise, which usually takes seconds (longer than it takes to close the UK on-line system and open Wise tab) then instruct Wise so send it to Bangkok Bank