Wise have upped their game.

[KannikaP]

13 hours ago, worrab said:

I honestly have no idea as this goes into one account for day to day living. I have another account for immigration which is never touched for the yearly extension so do not need to worry about what is shown.

Did you consider checking how your money arrived?

[worrab]

7 hours ago, KannikaP said:

Did you consider checking how your money arrived?

I get an SMS to notify me when it is my account. No need to check how it arrived. On my internet banking statement, it just says AUTO. Like I said earlier, I do not need to worry about it being marked as international transfer as this is my day to day living account. If I was using yearly income for extension of stay then I would be ensuring it is marked up correctly. But I am lucky that I can have the necessary amount in another account that does not need to be worried about for Immigration.  

 

[scubascuba3]

11 minutes ago, worrab said:

I get an SMS to notify me when it is my account. No need to check how it arrived. On my internet banking statement, it just says AUTO. Like I said earlier, I do not need to worry about it being marked as international transfer as this is my day to day living account. If I was using yearly income for extension of stay then I would be ensuring it is marked up correctly. But I am lucky that I can have the necessary amount in another account that does not need to be worried about for Immigration.  

 

Because it settled Auto I don't think you selected long term stay, no one else has reported selecting long term stay resulted in an instant transfer and non International. I rest my case ????

[worrab]

1 hour ago, scubascuba3 said:

Because it settled Auto I don't think you selected long term stay, no one else has reported selecting long term stay resulted in an instant transfer and non International. I rest my case ????

I can assure you that is what I do, and have done for the last 4 years or so. Are you calling me a liar???

[ripstanley]

On 3/14/2022 at 7:33 PM, KannikaP said:

And takes one day more. Always has done.

I do mine from Australia. I do it early in the morning and it arrives in my Bangkok bank account at 1400 the same day coded FTT

[scubascuba3]

26 minutes ago, worrab said:

I can assure you that is what I do, and have done for the last 4 years or so. Are you calling me a liar???

Not a liar but you made a mistake this time, assuming it's Bangkok Bank, anyway we can't prove either way but no similar reports anywhere

[worrab]

30 minutes ago, scubascuba3 said:

Not a liar but you made a mistake this time, assuming it's Bangkok Bank, anyway we can't prove either way but no similar reports anywhere

I am sorry but how can I have made a mistake? I can only tell you what I do every 4 weeks. Select long term funds and then it arrives at Bangkok Bank. My online statement shows auto and for this last rapid transfer, it showed mobile. I certainly have no intentions of taking screen shots to prove my point! Like I said before, I am not worried what it shows as long as it arrives because that account is not needed for immigration purposes.

[treetops]

10 hours ago, worrab said:

I am sorry but how can I have made a mistake? I can only tell you what I do every 4 weeks. Select long term funds and then it arrives at Bangkok Bank. My online statement shows auto and for this last rapid transfer, it showed mobile. I certainly have no intentions of taking screen shots to prove my point! Like I said before, I am not worried what it shows as long as it arrives because that account is not needed for immigration purposes.

On the same line but across from Auto you should see a column headed "Description".  Does this contain "International Transfer", "Transfer from A/c at Other Bank" or something else?  That would let us know if it had followed the regular process or if, unlikely as it seems, something has indeed changed at Wise.

 

 

[worrab]

22 minutes ago, treetops said:

On the same line but across from Auto you should see a column headed "Description".  Does this contain "International Transfer", "Transfer from A/c at Other Bank" or something else?  That would let us know if it had followed the regular process or if, unlikely as it seems, something has indeed changed at Wise.

 

 

Okay, here we go. Previously to this rapid transfer, when the monies came into my account they were marked as International Transfer and were AUTO. This quick transfer does show Transfer from A/C at Other Bank and is marked MOB.  

So, I have no idea if this is going to be the norm until my next transfer later this month. I will let you all know then. 

[Henryford]

I did a transfer on Friday morning, came in 10 seconds. Impressive.

[hotandsticky]

1 hour ago, Henryford said:

I did a transfer on Friday morning, came in 10 seconds. Impressive.

Same for me; I did a transfer on Saturday and I did another this morning.

 

Banks can't do that.

[RAZZELL]

Service gone down hill.

 

This morning I tried numerous times to transfer via debit card - blocked by Visa even though I called the bank twice.

 

Had to transfer via bank so now taking one day longer and arriving tomorrow.

 

Rubbish. It's about speed of use not aggro. No customer service/contact number etc unless you call Singapore and get put on hold for 20 minutes.

 

Any other suggestions to transfer money?

 

RAZZ

 

 

Edited March 22, 2022 by RAZZELL

[RAZZELL]

On hold more than 20 minutes.

 

Absolute joke.

 

 

RAZZ

[Barley]

As far as I remember, the speed of transfer for FTT transfers has a lot to do with the time of day it is being initiated.

 

I think the cut off time for same day international FTT transfers is either noon or 2pm Thai time, probably noon.

 

So if you are an early bird the FTT will probably arrive same day, maybe even within seconds, and if you are doing your transfers in the afternoon, the FTT transfer will arrive the next day.

 

With FTT I mean transfers for the purpose of long term stay, which you have to give as a purpose in one of the last steps before initiating the transfer. In a Bangkok Bank savings account this will then be marked FTT, other banks may mark it differently.

 

Another thing I noticed affecting transfer duration is the amount: Higher amounts may take longer, smaller amounts go through quicker. I believe this has somehow to do with Wise's matching algorithm, because they try to match in- and outgoing transfers to save on the conversion rate. If they have similar amounts for in- and outgoing transactions they can do the transfer internally without paying a foreign exchange commission to a bank or broker. So they seem to wait sometime until they have enough going on the other end before sending the money, though the exact details of this mechanism is probably one of their trade secrets.

 

Furthermore I remember that there are only three banks they work with directly: I believe they are Bangkok Bank, SCB, and Kasikorn. Transfers to other banks may have to go through an intermediary and this may also add to the duration. I even seem to remember that transfers in excess of 50.000 THB can only be sent to the above three banks. Of course these rules may be subject to change.

 

That's just my experience with them and could explain the  different experiences of our members. YMMV

Edited March 22, 2022 by Barley

[scubascuba3]

1 hour ago, RAZZELL said:

Service gone down hill.

 

This morning I tried numerous times to transfer via debit card - blocked by Visa even though I called the bank twice.

 

Had to transfer via bank so now taking one day longer and arriving tomorrow.

 

Rubbish. It's about speed of use not aggro. No customer service/contact number etc unless you call Singapore and get put on hold for 20 minutes.

 

Any other suggestions to transfer money?

 

RAZZ

 

 

Better to just use bank transfer, Wise acknowledge receipt within seconds

[KannikaP]

1 hour ago, Barley said:

the FTT will probably arrive same day, maybe even within seconds,

Never has done for me in the years I have been using WISE.

FTT involves some human intervention.

[Chelseafan]

On 3/18/2022 at 7:22 AM, scubascuba3 said:

Keep up for the love of god, Wise confirmed recently the reasons for transfer are important again, threads on it, look it up

On that note. I send money back to the Mrs Chelseafan as "family living expenses" or something like that. Is she liable to pay tax if her account is audited as that could be treated as an income ?
 

[aussiexpat]

Wise just became useless to me as you can't transfer more than 50,000 baht to Krungsi Bank (only to the 3 banks listed in the Wise pop-up below)

Edited March 24, 2022 by aussiexpat

[scubascuba3]

4 hours ago, aussiexpat said:

Wise just became useless to me as you can't transfer more than 50,000 baht to Krungsi Bank (only to the 3 banks listed in the Wise pop-up below)

Open another bank account, i have 3, need backup anyway

[treetops]

On 3/20/2022 at 1:12 AM, worrab said:

Okay, here we go. Previously to this rapid transfer, when the monies came into my account they were marked as International Transfer and were AUTO. This quick transfer does show Transfer from A/C at Other Bank and is marked MOB.  

So, I have no idea if this is going to be the norm until my next transfer later this month. I will let you all know then. 

I had a transfer complete yesterday afternoon, just after 2:00pm with reason selected being long term stay.

 

I'd initiated it mid morning the day before and it arrived as expected marked as International Transfer and AUTO.  From this I reckon there's been no significant change in Wise' procedures and yours was either a glitch or you inadvertently selected another reason.

 

I know you don't need to show the international source, but just in case anyone else was thinking there had been a change and they'd be able to get quick transfers showing international then I would think again.