5 minutes ago, Jaxxper said:

I transfer money into my Wise account….maybe an hour to do that, then a few seconds generally to make the home currency transfer to my Kasikorn account. Seems pretty efficient.

Is it possible to send money the other way around as well?

What about USA banks? Does the USA have laws that prohibit quick international transfers?

 

It is usually 5 to 10 seconds. Do mine 1st thing in the morning here to my Kasikorn Account. It does sometimes depend on your UK bank as well as I have friends where theirs takes up to a day, same as some of my Aussie mates can take up to 2 days!!!

13 hours ago, sidgy said:

Within a minute...usually around seven seconds

ditto

I transfer each momth from Wise into my Bangkok Bank account ant the time  taken is about 6 seconfs whatever the time of day or day of the week

One time it took seconds, normally four days for me

13 hours ago, spambot said:

Really - Wow!

 

Is this just in Thai banking business hours / before a certain time - or is this anytime?

Time has no relevance in the digital world. No-one physically approves the transfer. That's very last century. My own experience is that it arrives within seconds, even before the email saying the transfer is on its way, or it can take a few hours. I make monthly transfers, either at 10pm Thai time when banks here are closed, or around eight in the morning Thai time when the UK banks are closed. Makes no difference.

1 hour ago, bokningar said:

Is it possible to send money the other way around as well?

Not with Wise, but I'm told Dee Money, a government approved company, can do it. I've never used it though.

I'm gonna post here and people may cry "BS" but this has been my experience over the last 6 months.

 

I xfer from a credit union in the states to an SCB account. If I go 50k baht or over, it takes days. 49,999.75 baht takes 6 seconds.

 

SCB is supposed to be one that allows quick xfer over 50k but that has not been my actual experience.

14 hours ago, sidgy said:

Within a minute...usually around seven seconds

Second that.  It is now lighting fast.  Last week was perhaps 5 seconds.

They are taking around 3 days to do a transfer from Oz to my SCB account and have been for a while, originally it was done pretty smartly same day.

1 hour ago, bignbad said:

Did a transfer this morning into Kbank, 6 seconds!

 

 

Not a lot of excuse then

It's not just using Wise transferring funds into Thailand.  I've had the same experience on other international transfers such as from the UK to Spain and vice versa. They say seconds but sometimes it takes a day to arrive.

1 hour ago, Bangkok Barry said:

Not with Wise, but I'm told Dee Money, a government approved company, can do it. I've never used it though.

Have used Dee Money many times = THB to GBP

 

Works 'sweet as'...

 

Funds normally appear +1 day after Thai side initiation of Transfer.

My experience is it takes seconds under normal circumstances, even at weekends now, when the Wise site directs me to my UK bank and automatically transfer money to Wise.

 

I have had experience of transfers taking hours, or even days, depending on Bank Holidays, but not recently.

 

transferring normally during UK banking hourz, but recently, even at weekends it goes through very quickly.

About 2 mins with transfer to Bangkok Bank.

I have been using Wise for a few years.

recently the money is in my account within 2 minutes or less

my last 6 Wise Transfers

That was really fast. Your money arrived in 7 seconds.     That was really fast. Your money arrived in 8 seconds                                                                                  That was really fast. Your money arrived in 8 seconds.     That was really fast. Your money arrived in 11 seconds.                                                                                 That was really fast. Your money arrived in 16 seconds    That was really fast. Your money arrived in 5 seconds.

From 60 seconds to a few hours. Never more. 

I am convinced its got nothing to do with what Thai bank you transfer too or the time of day. Its more to do with the reason for the transfer. If you select "general living expenses" it is done almost immediately. If you select "funds for long stay in Thailand" it can take much longer due to them ensuring that an FTT transaction is shown on the statement for immigration visa purposes.

4 hours ago, bokningar said:

Is it possible to send money the other way around as well?

Not with WISE. 

Here are couple of transfers.

One to bank account in my name 

1.5 million baht arrived same day.

Reason: general living expenses.

Another transfer to Thai person smaller amount took couple of days.

Reason : general living  expenses. 

 

Note the one that took few days was started Friday completed Monday. 

18 hours ago, sidgy said:

Within a minute...usually around seven seconds

Not if you specify the transfer is for long stay which you need to do if you want it to appear on your Thai bank statement as an international transfer in to Thailand. Otherwise yes usually in seconds more recently and at any hour but sometimes not on the week end and Thai holidays.  This will appear on your Thai bank statement as from another bank. I believe Wise use Bangkok Bank as it has a London branch for the long stay specified transfers and Dee money for all others at the moment. 

My UK to Kasikorn bank transfers usually arrive within seconds and very rarely in a couple of hours.

IMHE there are two factors that usually determine the time taken for a WISE transfer.

 

Firstly, are the funds paying for the transfer held in a WISE account?  If so, WISE do not need to wait for payment and the transfer will normally be instantaneous.  Exceptions - I have experienced delays of up to 24 hours in this situation, once because of a long Thai holiday weekend, and another time the amount was THB5M.  In the latter case I suspected it was the WISE agent in Thailand having to rearrange his cashflows.

 

I hold multi currencies in WISE and buy (or sell) within WISE as convenient.  Usually all my transfers to Thailand arrive immediately because I'm transferring my own THB that is already paid for.

 

Secondly, if you buy THB in WISE and pay them from your domestic bank account, you are exposed to the banking interchange system of your own country.  This can result in some delays for your payment to get to WISE as every country has a different interchange system that initiates the payment.

 

Most countries will be instantaneous with some variations for weekends and holidays depending on their interchange rules. 

 

But if your domestic "bank" is not a real bank but something like a Building Society or a Co-Operative bank, you may have delays.  Often (usually) these organisations are not part of centralised (automated)  interbank interchange and do not have SWIFT.  They may do manual interchange only once per day, (and probably at the end of the day) by instructing their bank to pay WISE.

 

Almost every time I come across someone complaining about WISE delays, their "bank" is something like The Wickersley Working Mens Building Society, or the Cleveland Savings and Loan Co-operative (names  made up).

I use Wise every month here in Thailand, have used them for many years. Monday to Friday it takes only a few seconds to a few minutes. Adviod Saturday and Sunday as you will not get the money until the following Monday. Also watch out for public holidays in the UK and Thailand as this will delay your money arriving until the next business working day. 

I have found  in the past Friday is not a good day to transfer from the UK to Kbank or KTB. My online bank says it has been received with two minutes but the banks don't show it as received until Tuesday midday.

It is my experience that if the bank thinks it can make money by not passing on the transfer, they will delay.

Its not just Thailand. I have found this with other banks in other countries also. Not often, but it does happen.

19 hours ago, HappyExpat57 said:

I xfer from a credit union in the states to an SCB account. If I go 50k baht or over, it takes days. 49,999.75 baht takes 6 seconds.

Exactly the same for me. 50k baht is the magic number, stay under that and it is instant. Go over it and you're looking at a couple of days.

On 11/11/2022 at 2:05 AM, sidgy said:

Within a minute...usually around seven seconds

Never had that ,Always 3 sometimes 4 days . that's for AU $ 20K

Aus Bank to Wise , than to Bangkok Bank. 

Smaller Inter Transfers 1 Day

20 hours ago, Pungdo said:

They are taking around 3 days to do a transfer from Oz to my SCB account and have been for a while, originally it was done pretty smartly same day.

I had a problem with transfer from NAB. If I use the NAB app it uses Osko and the money goes to Wise virtually immediately. Yesterday I logged into internet banking and am still waiting for the transfer. I found that if you use Internet banking it does not use Osko and it will be treated like a normal bank payment (next working  day)