Wise again

[KannikaP]

  On 10/15/2022 at 8:41 AM, hotandsticky said:

 

He might like to fix the rate on a Friday?

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Is the rate better on a Friday? from experience, the rate is usually better on a Monday.

[Sparktrader]

Wise card is $10

Worth getting?

[Sparktrader]

  On 10/14/2022 at 2:15 AM, FarangRimPing said:

Several people here imply that using 'long term stay' for a reason of the transfer is the cause of the problem. I believe it is A cause, but not the sole cause. I ALWAYS use 'for general expenses' and it is still taking a long time. Maybe it's a problem with SCB. 

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Say family

[sandyf]

  On 10/15/2022 at 8:40 AM, OneeyedJohn said:

A state pension every 28 days will not arrive on a Friday every month, how can it when there are 28,29,30 or 31 days in a month.  Nonsense.

 

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It may come as a surprise to you, but a Friday due date will occur every 28 days on a Friday.

[DezLez]

  On 10/15/2022 at 9:52 AM, sandyf said:

It may come as a surprise to you, but a Friday due date will occur every 28 days on a Friday.

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And on that 4th Friday/28th day at 0810 local time (CM) yesterday I connected to wise and transferred my newly received UK pension funds from my UK Bank to my Thai Bank account with the reason "everyday living expenses"

Yesterday it took 6 seconds at 43.1911!

 

You cannot possibly ask for a better service IMO!

[Sparktrader]

  On 10/15/2022 at 9:23 AM, KannikaP said:

Is the rate better on a Friday? from experience, the rate is usually better on a Monday.

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Forex goes up and down

[BenCrew]

  On 10/12/2022 at 5:12 AM, TingTawng said:

On the subject of Wise, I just made a transfer from GBP (UK bank) to THB (my Thai bank).  The estimated time was "seconds".  OK, great.  Then when I made the transaction, I'm now told it won't appear for FIVE DAYS.  Anyone else experiencing / experienced this?

 

The email literally says "We’ll pay out your money shortly. And it should be there October 17. " - my definition of "shortly" is not 5 days.

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No, they told me that my money was there in 7 seconds. About 1 hour later, I went to the ATM, and the money had been added to my balance. This has happened on more than one occasion, so no complaints from me.

[Sparktrader]

  On 10/15/2022 at 10:20 AM, BenCrew said:

No, they told me that my money was there in 7 seconds. About 1 hour later, I went to the ATM, and the money had been added to my balance. This has happened on more than one occasion, so no complaints from me.

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I tried it. Done in 3 secs.

[hotandsticky]

  On 10/15/2022 at 9:23 AM, KannikaP said:

Is the rate better on a Friday? from experience, the rate is usually better on a Monday.

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The point is........you don't know what is going to happen on/after the weekend.

 

If I was happy with the rate on Friday I would count my chickens.......

[Phulublub]

  On 10/15/2022 at 8:50 AM, treetops said:

Transfers sent to Bangkok Bank and Kasikorn (Wise partners) where the reason for transfer is selected as for long term stay or for purchasing a property need to be identified as a transfer from overseas.  They are processed differently from other transfers and arrive just after 2:00pm Thai time, on the day of transfer if initiated early enough on a working day, or the next working day if initiated later in the day.  This is when we get the wailing at weekends or holiday times.

 

Other transfers are identified by the receiving bank as domestic transfers.

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Not true - as I posted earlier today.  Transfer to Kasikorn for Purchase of Property arrived in seconds.

 

PH

[treetops]

  On 10/15/2022 at 10:41 AM, Phulublub said:

Not true - as I posted earlier today.  Transfer to Kasikorn for Purchase of Property arrived in seconds.

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My experience is with BBL so I shouldn't really have included Kasikorn, but I thought they behaved the same with the 2:00pm deposits.

 

Can you confirm you received the International transaction coding as this could be a new data point (for me at least).

[hotandsticky]

  On 10/15/2022 at 10:41 AM, Phulublub said:

Not true - as I posted earlier today.  Transfer to Kasikorn for Purchase of Property arrived in seconds.

 

PH

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+1

 

I don't usually select 'funds for long term stay in Thailand' but this week I did - 6 seconds.

 

I also noticed that irrespective of the notation the transactions shows up as Trade Finance on my Kasikorn statement.

[PingRoundTheWorld]

I've been using Wire (and TransferWise) for years now, it used to arrive in seconds or minutes every time - no problems until a couple months ago when all of a sudden every transfer says "in seconds" then before completion switches to 5 business days which is ridiculous. This is US banks (tried 2 different ones).

When contacting Wise support I was told that "we do not have a direct debit agreement with that bank so there is a delay". This is for an account that worked fine for years, mind you.

Something definitely changed/broken on their end, but not sure what. A "workaround" I found was to use debit card to pay, which processes in 30 minutes - but the fee is double.

Are there any alternatives to Wise that operate similarly with low rates? I'm tired of paying double fees every time now.

[KannikaP]

  On 10/15/2022 at 11:13 AM, PingRoundTheWorld said:

I've been using Wire (and TransferWise) for years now, it used to arrive in seconds or minutes every time - no problems until a couple months ago when all of a sudden every transfer says "in seconds" then before completion switches to 5 business days which is ridiculous. This is US banks (tried 2 different ones).

When contacting Wise support I was told that "we do not have a direct debit agreement with that bank so there is a delay". This is for an account that worked fine for years, mind you.

Something definitely changed/broken on their end, but not sure what. A "workaround" I found was to use debit card to pay, which processes in 30 minutes - but the fee is double.

Are there any alternatives to Wise that operate similarly with low rates? I'm tired of paying double fees every time now.

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why should it matter HOW you get your money to WIse (yep we all know it used to be Transferwise), debit card, Credit card, bank transfer? as soon as they have your money, they will transfer it.

 

 

[billd766]

  On 10/15/2022 at 8:03 AM, hotandsticky said:

That does not make sense.

 

 

I make a lot of transfers and whether it is a Friday, a Sunday, or a bank holiday, the money is invariably in Kasikorn  within 6 seconds. A bank's opening hours are irrelevant to a WISE transfer.

 

 

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It does to me. I transfer the funds for living in Thailand and it shows up as an FTT on my bankbook and statement proving that the funds came from offshore.

 

I could do the same with KBank but then I would have to get the head office to send me 37 separate conformations of payment per year.

 

Try to remember what works for one person does no always work for everybody. 

 

I made a small spreadsheet that tells me when I get paid by Wise n the UK, when it is due in Thailand, adjustable for bank holidays, how much I transfer and the forex rate given.

 

It makes MY life easy.

 

 

  On 10/15/2022 at 8:21 AM, KannikaP said:

What has the day your state Pension arrives got to do with it?

Unless you are living from that day until the next pension day.

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Why do you care? it works for me.

 

  On 10/15/2022 at 8:31 AM, KannikaP said:

So why not wait until Monday to send it.

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Why?

 

 

[hotandsticky]

  On 10/15/2022 at 12:19 PM, billd766 said:

It does to me. I transfer the funds for living in Thailand and it shows up as an FTT on my bankbook and statement proving that the funds came from offshore.

 

I could do the same with KBank but then I would have to get the head office to send me 37 separate conformations of payment per year.

 

Try to remember what works for one person does no always work for everybody. 

 

I made a small spreadsheet that tells me when I get paid by Wise n the UK, when it is due in Thailand, adjustable for bank holidays, how much I transfer and the forex rate given.

 

It makes MY life easy.

 

 

Why do you care? it works for me.

 

Why?

 

 

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My bank statements from K Bank show the description of 'Trade finance'. That is acceptable to Immigration and I just submit individual Pdfs that relate to each transfer. Frankly, I don't think Immigration take any notice and simply on the bank letter and bank statements.

[Phulublub]

  On 10/15/2022 at 5:45 PM, hotandsticky said:

My bank statements from K Bank show the description of 'Trade finance'. That is acceptable to Immigration and I just submit individual Pdfs that relate to each transfer. Frankly, I don't think Immigration take any notice and simply on the bank letter and bank statements.

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You says pdfs....can you clarify please..I am thinking of switching form 800K to monthly deposits after next renewal (due February) so want to have my ducks in a row in advance.

 

PH

[hotandsticky]

  On 10/16/2022 at 2:15 AM, Phulublub said:

You says pdfs....can you clarify please..I am thinking of switching form 800K to monthly deposits after next renewal (due February) so want to have my ducks in a row in advance.

 

PH

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There is a drop down option to create a PDF that shows all the transaction details. I print these off and cross reference them to the amounts on my Thai bank statement.

[Chris.B]

  On 10/15/2022 at 8:40 AM, OneeyedJohn said:

A state pension every 28 days will not arrive on a Friday every month, how can it when there are 28,29,30 or 31 days in a month.  Nonsense.

 

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UK State pensions are paid out on a 4 weekly basis not monthly.

 

[hansombeast]

On Friday I transferred £1000 to my Bangkok bank account with absolutely no delay. Transfer was done early morning here nighttime in the UK. The reason I chose was general expenses. Confirmation email said within 5 sec.

[sandyf]

  On 10/15/2022 at 10:05 AM, DezLez said:

You cannot possibly ask for a better service IMO!

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No dispute, Wise does offer a good service, I have the debit card which has been a bit of a godsend.

In the pre brexit days I had my pension paid direct from the DWP, it would come into my Thai account every 4th Friday about 08.30 without me having to do anything, at a rate that was as good as Wise. If there was a bank holiday in the UK, pension came a day early.  The DWP in my opinion offered a better service but I am aware that Bill will disagree as I know that he, along with some others, had delays with their pension.

With the volatility following brexit I opted to transfer funds at my own convenience, it is each to their own.

[sandyf]

  On 10/15/2022 at 5:45 PM, hotandsticky said:

My bank statements from K Bank show the description of 'Trade finance'. That is acceptable to Immigration and I just submit individual Pdfs that relate to each transfer. Frankly, I don't think Immigration take any notice and simply on the bank letter and bank statements.

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Your last statement may apply to your office but it cannot be taken for granted.

I also submit the individual remittance advice for each transaction and at the last application saw an IO at the back of the office go through each one and tick them off on the statement.

[phetphet]

According to "Track your transfer" for the one I initiated at 09:30 Friday morning Thai time, I will receive my money tomorrow Monday at 2:13pm.

[hotandsticky]

  On 10/16/2022 at 3:11 AM, sandyf said:

Your last statement may apply to your office but it cannot be taken for granted.

I also submit the individual remittance advice for each transaction and at the last application saw an IO at the back of the office go through each one and tick them off on the statement.

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Apologies.......I should have stated 'Jomtien Immigration'.....Oh, and Buriram.

[lopburi3]

  On 10/15/2022 at 11:13 AM, PingRoundTheWorld said:

I've been using Wire (and TransferWise) for years now, it used to arrive in seconds or minutes every time - no problems until a couple months ago when all of a sudden every transfer says "in seconds" then before completion switches to 5 business days which is ridiculous. This is US banks (tried 2 different ones).

When contacting Wise support I was told that "we do not have a direct debit agreement with that bank so there is a delay". This is for an account that worked fine for years, mind you.

Something definitely changed/broken on their end, but not sure what. A "workaround" I found was to use debit card to pay, which processes in 30 minutes - but the fee is double.

Are there any alternatives to Wise that operate similarly with low rates? I'm tired of paying double fees every time now.

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My experience, since change to Wise name, pulling from bank account could be immediate up to $1,500 or so but larger amounts would require a wait.  Have not opened (they make because I created a scheduled transfer) a bank account with Wise (which is a normal ACH number you could use to transfer money from your bank).  I use it for normal ACH pull by Wise and then use these funds for transfer when I want.  Seems to work well.  Normal few hours/next day for BBL long term stay but within seconds for others.  Total charge seems to be very reasonable.  

[OneeyedJohn]

  On 10/15/2022 at 8:42 AM, hotandsticky said:

Would you like to revisit that comment again?........Probably looking at a calendar at the same time! ????

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I am thinking date of each month and not the day, silly me.????

[billd766]

  On 10/16/2022 at 3:06 AM, sandyf said:

No dispute, Wise does offer a good service, I have the debit card which has been a bit of a godsend.

In the pre brexit days I had my pension paid direct from the DWP, it would come into my Thai account every 4th Friday about 08.30 without me having to do anything, at a rate that was as good as Wise. If there was a bank holiday in the UK, pension came a day early.  The DWP in my opinion offered a better service but I am aware that Bill will disagree as I know that he, along with some others, had delays with their pension.

With the volatility following brexit I opted to transfer funds at my own convenience, it is each to their own.

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I agree with you, but with Wise I get a better forex rate than KBank, I know before I transfer exactly the forex rate I will get, the exact amount to the satang, the day and time it will arrive at BBK bank.

 

With KBank transfers  I only knew roughly which week it would turn up, how much I would get and I would be reliant on the time and day of KBank forex.

[sandyf]

  On 10/16/2022 at 7:11 AM, billd766 said:

I agree with you, but with Wise I get a better forex rate than KBank, I know before I transfer exactly the forex rate I will get, the exact amount to the satang, the day and time it will arrive at BBK bank.

 

With KBank transfers  I only knew roughly which week it would turn up, how much I would get and I would be reliant on the time and day of KBank forex.

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Yes banks can a bit hit and miss.

I was referring to the rate from the DWP which was very competitive as they buy in bulk on the foreign exchange.

I now transfer GBP from HSBC and get the rate at the time the transfer arrives at the BOT, not quite as good as the DWP but not bad. As HSBC only charge £5 for the transfer the overall cost is very similar to Wise. The time frame is a bit more variable, anything from a couple of hours to a few days depending on the time of the week but not paricularly concerned about the transfer time.

Some years ago I had a problem with the bank over residency and the fact that my pension was paid in and active in their system helped secure the account.

Each has to look to their own needs.

[PingRoundTheWorld]

  On 10/16/2022 at 3:34 AM, lopburi3 said:

My experience, since change to Wise name, pulling from bank account could be immediate up to $1,500 or so but larger amounts would require a wait.

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I usually do $1000 transfers so that's definitely not the issue. And we're talking a popular bank (Capital One) so it's very odd that they claim to not be able to direct debit it after being able to for years. I think the move to Plaid messed things up.

[mackayae]

My last two transfers came as "Transfer from A/c at Other Bank" as opposed to

"International Transfer"

First time this has happened. Is there another company that does transfers reliably.