WISE Transfer Troubles

[PolarAttack]

Hi, I just wanted to post incase other have this problem.  I’m new to Wise (transfer) only setting my account up last Thursday.  My home base is Canada - TD Bank, and my banking here in Thailand is Bangkok Bank.

 

Following the online screens on the Wise app, I set up my first Canadian to Baht transfer/exchange using the INTERAC eTransfer method.  Wise indicates the process to initially take a few minutes with the final exchange/deposit taking a few hours.

 

Proceeding with the transfer, Wise sent me an email with the INTERAC eTransfer link.  Already populated with the information. Account numbers, amount etc.  

 

Clicking the link gave me an host of Canadian bank options, I chose mine, logged in and initiated the transfer.  Sure enough the money was instantly moved from my account.  So far, so good.

 

The problem being the next steps never happened.  The first time I contact Wise, the “auto helper” told me it can take up to 2 days - but I still filled out the missing money form and attach 8 screen shots of my transaction process.  Then I wait.  Two days later, the “auto helper” tells me - not on weekends.  So I wait.  On Monday evening after still no response to my concern message, I send another message to Wise, this time their Customer Service.

 

Wednesday morning is the first response I get from Wise - After the original Thursday evening Transfer attempt. They respond with (paraphrasing) we don’t have your money, check with your bank and Interact. We suggest NOT using INTERAC eTransfer in the future.

 

Wow, so I phone TD Bank (thanks to the FonGo app) and I’m told that Wise is having trouble receiving the transfer, perhaps I could contact them and have them check with their security dept.  Huh, that seems a stretch for me.  The other option was TD Bank could put in a request to retrieve my funds.  I went ahead with that and minutes later the Canadian funds were back in my TD Bank.

 

So that’s, that.  I’m not necessarily complaining but just wanted to point out my experience.  Do other Canadians here have a better method to transfer?  I know the Wise app showed me about 6 options.  I chose INTERAC because I’ve used it before in Canada.  Not on international transfers though. 

 

Thanks,

Wayne

[ubonjoe]

Not directly related to visas or extension. Moved to the Business and Banking forum.

[Tom H]

Issues with Wise like that are based on the fact that WISE is not registered as a bank:).

Money wont get lost but you have to be concerned about WISE as a customer in general in terms of getting the right person on the phone:). You cant visit them too????

 

Money is also not secured with any umbrella funds by WISE. Dont park money just use it as a transfer machine:).

 

WISE is by more and more banks not accepted as a transfer contact. At least they stop transfers and asks questions.

 

Just bear in mind that some people use WISE as a support possibility for not so “legal money”. 

 

Use it for money transfers only and check it with 10 USD for a first time transfer if accepted is my recommendation for all readers. Mostly its working!

 

 

 

[bolt]

I've been using Wise for over 2 years, and I'm very happy with it

 

are you transferring Candian Dollars to your Bangkok Bank, which will convert to THB???

 

i normally send home currency (USD) to wise and it stays in home currency (USD), once I'm ready to convert i then do the conversation inside WISE.

 

so i will have 2 different currencies inside of WISE

once conversion is done 

i then make another transaction to send the converted THB to my Bangkok bank

 

it may sound ;like I'm making too many steps, and paying twice but I'm happy doing it that way.

so my method could take 5 days depending on what day I start this (2 step) process ?

 

and perhaps my method is of no use to you and your question 

 

 

[scubascuba3]

If new to Wise you should initially send a small test amount so you can be sure the process works correctly before switching to a larger amount

[PolarAttack]

5 hours ago, bolt said:

I've been using Wise for over 2 years, and I'm very happy with it

 

are you transferring Candian Dollars to your Bangkok Bank, which will convert to THB???

 

i normally send home currency (USD) to wise and it stays in home currency (USD), once I'm ready to convert i then do the conversation inside WISE.

 

so i will have 2 different currencies inside of WISE

once conversion is done 

i then make another transaction to send the converted THB to my Bangkok bank

 

it may sound ;like I'm making too many steps, and paying twice but I'm happy doing it that way.

so my method could take 5 days depending on what day I start this (2 step) process ?

 

and perhaps my method is of no use to you and your question 

 

 

Hi there,

So the plan was they were going to take my Canadian funds and convert them into Thai baht before depositing them into my Thai baht account at Bangkok Bank.  It was all laid out and seemed simple (see attached).  Originally they had listed 6 different options and I chose the INTERAC option.  I do have a Canadian currency account also with Bangkok Bank but I use that when I’m in Canada and transfer funds here. Just for the future though I want to be able to transfer money while I’m still here in Thailand.  After signing up and initiating the transfer, it did seem like a simple method - but that’s when things went sideways. 
 

[PolarAttack]

4 hours ago, scubascuba3 said:

If new to Wise you should initially send a small test amount so you can be sure the process works correctly before switching to a larger amount

Yes, I agree.  I have read that and was proceeding with caution.

Originally, I thought of transferring $1000.  The fees, etc. would cost about $13. When I bumped it to $2000, the fees went to just over $17 so that’s why I chose that amount.  As for the exchange rate on Thursday, it was pretty good. Today it’s up over 27.xx 

I think what annoyed me the most was when I finally got a hold of somebody at Wise, they told me not to use INTERAC. Then suggested another transfer form because they’ve had trouble with INTERAC in the past.

[PolarAttack]

6 hours ago, Tom H said:

Issues with Wise like that are based on the fact that WISE is not registered as a bank:).

Money wont get lost but you have to be concerned about WISE as a customer in general in terms of getting the right person on the phone:). You cant visit them too????

 

Money is also not secured with any umbrella funds by WISE. Dont park money just use it as a transfer machine:).

 

WISE is by more and more banks not accepted as a transfer contact. At least they stop transfers and asks questions.

 

Just bear in mind that some people use WISE as a support possibility for not so “legal money”. 

 

Use it for money transfers only and check it with 10 USD for a first time transfer if accepted is my recommendation for all readers. Mostly its working!

 

 

 

Thank you for that. Yes, my purpose was only to move, transfer, exchange the funds then deposit into my Bangkok bank account. From the information they supplied that was going to be done by the next day. 

[soi3eddie]

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Edited November 23, 2022 by soi3eddie