Wise (Transferwise)....what is the latest with them?

[Sup3rfarang]

The delays are not from bank holidays or time changes.  They simply can't handle the load on payday Fridays.  So they punt and leave transactions sitting in the drawer until Monday.  It's still possible to have transfers happen in seconds on off-peak days as many posters still report.  However, this still constitutes false advertising.  "Transfer in seconds!" needs to be changed to "Transfer in seconds, maybe.  More likely, when you really need it, transfer in DAYS, MANY DAYS!".  I used to be able to get around this by breaking up my transaction into several smaller transactions.  But today not even 100 baht will fly.  Interesting that, as their service rapidly deteriorates, they raise their fees so we can pay more for less.  Worthless.

[billd766]

On 12/2/2022 at 7:37 PM, Sup3rfarang said:

Every other Friday I receive money into my US bank account that I then send to my Kasikorn bank account.  I have been using Wise for this purpose for months with the transfer taking only seconds.  Two weeks ago, for the first time, it was delayed until Monday.  Today I'm being told it will take until Tuesday.  This is a massive degradation in service and it looks like Wise, for whatever reasons, can no longer be relied upon.

 

What other International Transfer services are available that don't take too long?  I don't need seconds.  Hours or even a day is OK.  Multi-days is not acceptable.

 

Thank you for your recommendations.

 make 3 transactions a month from the UK using Wise and transferring funds to my BBK account.

 

I usually make the transfer between 5 and 6 pm Thi time.

 

It is in my BBK account the following day, just after 2 pm, UNLESS I transfer on a Friday when it arrives on a Monday.

 

However if the day following the transfer is  public/bank holiday it does not arrive until the next working day for the bank.

 

There are a lot of public/bank holidays in Thailand, especially at Songkran.

 

In 2023 that will be Thursday and Friday 13th and 14th April and I have no doubt that the government will tack either Wednesday 12th and/or perhaps Monday 17th April as a "gift" to the Thai people.

[billd766]

3 hours ago, Sup3rfarang said:

The delays are not from bank holidays or time changes.  They simply can't handle the load on payday Fridays.  So they punt and leave transactions sitting in the drawer until Monday.  It's still possible to have transfers happen in seconds on off-peak days as many posters still report.  However, this still constitutes false advertising.  "Transfer in seconds!" needs to be changed to "Transfer in seconds, maybe.  More likely, when you really need it, transfer in DAYS, MANY DAYS!".  I used to be able to get around this by breaking up my transaction into several smaller transactions.  But today not even 100 baht will fly.  Interesting that, as their service rapidly deteriorates, they raise their fees so we can pay more for less.  Worthless.

Today I made 2 transfers from the UK quite successfully and they will be in my BBK account on Monday just after 2 pm. The first transfer was a little over 29,xxx baht at a forex rate of 40.2756 and the second about 10 minutes later for just under 16,xxx thb with a forex rate of 40.2641.

 

The Wise forex rate at 11 am this morning was 40.4553.

[Sup3rfarang]

 make 3 transactions a month from the UK using Wise and transferring funds to my BBK account.

 

I usually make the transfer between 5 and 6 pm Thi time.

 

It is in my BBK account the following day, just after 2 pm, UNLESS I transfer on a Friday when it arrives on a Monday.

 

So are you saying that you are satisfied with slow service?  ????

 

People want to believe these small nouveau financial outfits are as reliable as banks.  As many people in the crypto space recently found out, they are until they aren't.

 

I, personally, don't think its a good idea to leave a transaction open with them over the weekend.  If you must do business with them wait until Monday to make the transaction.  Just in case it happens to be the weekend they go out of business and all the money disappears.

 

 

Edited January 13, 2023 by Sup3rfarang

[treetops]

3 hours ago, Sup3rfarang said:

So are you saying that you are satisfied with slow service?

Some people are prepared to accept the slower service as funds transferred this way gives them the international transfer designation on the transaction which is required for those obtaining a visa extension using the monthly income route.

 

The instant transfers show as a local transaction, not international.

[statman78]

I used Wise January 5th to transfer $2000 US to my Bangkok Bank account.  It took several hours to get into my account.  It was coded as an international funds transfer.  The same for. $1500 US transfer back in December.  I code it as general living funds (or something similar, I can’t remember the exact wording)

Edited January 14, 2023 by statman78

[treetops]

6 minutes ago, statman78 said:

I used Wise January 5th to transfer $2000 US to my Bangkok Bank account.  It took several hours to get into my account.  It was coded as an international funds transfer.  The same for. $1500 US transfer back in December.  I code it as general living funds (or something similar, I can’t remember the exact wording)

Yes, if you transfer 50,000 THB or more it also appears to go the slower route no matter the reason selected.

[KannikaP]

24 minutes ago, statman78 said:

I used Wise January 5th to transfer $2000 US to my Bangkok Bank account.  It took several hours to get into my account.  It was coded as an international funds transfer.  The same for. $1500 US transfer back in December.  I code it as general living funds (or something similar, I can’t remember the exact wording)

As far as I am aware, only long term stay and buying property are the categories in Wise which will result in the transfer showing as International in your Thai bank, and will take longer to process. 

[lopburi3]

2 minutes ago, KannikaP said:

As far as I am aware, only long term stay and buying property are the categories in Wise which will result in the transfer showing as International in your Thai bank, and will take longer to process. 

Actually once you flag your BBL accounts to use BBL payment channel all transactions seem to be 1400 local time and marked as international (my experience last several months - previously this was not the case).

3 hours ago, Sup3rfarang said:

People want to believe these small nouveau financial outfits are as reliable as banks.  As many people in the crypto space recently found out, they are until they aren't.

Apples and oranges.  Wise is a very large money transfer service that works well for almost all its customers with no pot of gold attraction for failure. 

 

[norbra]

1 hour ago, treetops said:

Yes, if you transfer 50,000 THB or more it also appears to go the slower route no matter the reason selected.

Using Wise/ Kasikorn bank combination I receive 65k monthly, instant transfer with international coding

[KannikaP]

32 minutes ago, lopburi3 said:

Actually once you flag your BBL accounts to use BBL payment channel all transactions seem to be 1400 local time and marked as international (my experience last several months - previously this was not the case).

Depending on what time you instigate the transfer. Early morning, pre 6am, and it will probably arrive same day at 2pm. If not, next day at 2pm. From my experience of 3 years using Wise. I only ever put Long Term Stay as the reason, because it's true!

[treetops]

7 minutes ago, norbra said:

Using Wise/ Kasikorn bank combination I receive 65k monthly, instant transfer with international coding

Indeed, it must have changed since  I last experienced it and I'm with BBL so might be different again..  The break point now seems to 100,000 THB.

 

 

Edited January 14, 2023 by treetops

[KannikaP]

6 minutes ago, norbra said:

Using Wise/ Kasikorn bank combination I receive 65k monthly, instant transfer with international coding

That's not my experience. Instant = non-International coding, with Bkk Bank anyway, and they are one of Wises' partner banks.

To get 'instant' transfer, I start it the day before I need the money!!!   555

[norbra]

8 minutes ago, treetops said:

Indeed, it must have changed since  I last experienced it and I'm with BBL so might be different again..  The break point now seems to 100,000 THB.

 

 

I spoke with Wise service staff during the "BBL Account tagging issue" they advised that Kasikorn transfers would always go directly and not via other partners

[Jenkins9039]

Did one earlier for 29.x k and it said 12 hrs.

Usually instant.

[ifmu]

On 11/29/2022 at 1:42 PM, Chivas said:

Seconds as always from the UK......To SCB

 

I have absolutely no idea why so many claim to have problems (well I do they're red flagged)

 

would you please explain .........

i have had my own problems also  (in my favor)

they contacted my bank for 1k  ( wrong acct number)  of course the bank denied payment  .....  wise.com sent the money anyway .. i do not know why  

i will post a warning later after i get more details .. some of you folks transfer lots of money   .... you need to be aware

thanks

 

 

[Everyman]

On 1/14/2023 at 9:06 AM, lopburi3 said:

Actually once you flag your BBL accounts to use BBL payment channel all transactions seem to be 1400 local time and marked as international (my experience last several months - previously this was not the case).

Apples and oranges.  Wise is a very large money transfer service that works well for almost all its customers with no pot of gold attraction for failure. 

 

How do you flag your account like this?

[lopburi3]

9 hours ago, Jenkins9039 said:

Did one earlier for 29.x k and it said 12 hrs.

Usually instant.

Perhaps the holiday here in Thailand.

[Olmate]

10 minutes ago, lopburi3 said:

Perhaps the holiday here in Thailand.

Sure it is, sent 20k bank to bank(Swift)last Friday, still not here, usually 24hrs.

[gargamon]

On 11/29/2022 at 2:38 PM, PolarAttack said:

Here was my situation from my post a couple of weeks ago. I’ve yet to find a suitable solution but I’m happy to see others have generally had good success. 

 

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 removed 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 an individual at 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.  

Wayne

I've used wise to transfer funds from banks in both Canada and the US. The US transfer was easy. The Canadian one, not so much. I wouldn't blame wise for that but I would blame the Canadian banking system.

 

They were probably right. Try to avoid the interac method. 

[gargamon]

10 hours ago, Jenkins9039 said:

Did one earlier for 29.x k and it said 12 hrs.

Usually instant.

It can depend on what Thai bank the money is going to. Last time I checked the 3 “fast“ banks were Bangkok, SCB, and Kasikorn. Others can take more time. 

Edited December 12, 2023 by gargamon

[Stocky]

I made transfers to both Kasikorn and SCB accounts on Tuesday via Wise from Singapore. Transfer to Kasikorn took about 5 minutes, one to SCB took 3 hours.

[Chalong circle]

Yesterday morning 1000 euros to bahts (SCB), less than one minute...

[sometimewoodworker]

On 12/12/2023 at 9:23 AM, gargamon said:

It can depend on what Thai bank the money is going to. Last time I checked the 3 “fast“ banks were Bangkok, SCB, and Kasikorn. Others can take more time. 

It is also dependent on the amount transferred. An under 10,000 THB was instant. An over 400,000 THB to the same bank took days.

[TroubleandGrumpy]

Have made 2 transfers this month - both arrived the next day.

I noticed one thing in the past that may affect things - when advising 'reason' I always click on 'long term Visa requirements' so that the entry in the Thai book says 'International Transfer'.   One time earlier this year I did not do that - I clicked on 'daily living expenses' and the money arrived that day. Maybe related, maybe nothing to do with it. 

[treetops]

11 minutes ago, TroubleandGrumpy said:

Have made 2 transfers this month - both arrived the next day.

I noticed one thing in the past that may affect things - when advising 'reason' I always click on 'long term Visa requirements' so that the entry in the Thai book says 'International Transfer'.   One time earlier this year I did not do that - I clicked on 'daily living expenses' and the money arrived that day. Maybe related, maybe nothing to do with it. 

 

It's 100% everything to do with it.  Wise (or probably Transferwise at the time) specifically introduced this option to support folk needing the international transfer notation. The option about purchasing a property also means arrival the next day and the international transfer listing.

 

If you're with Bangkok Bank it'll be just after 2:00pm the next day I'm sure?

 

Remember they don't guarantee it 100% so have a backup if one month it doesn't work as planned.

[TroubleandGrumpy]

1 hour ago, treetops said:

 

It's 100% everything to do with it.  Wise (or probably Transferwise at the time) specifically introduced this option to support folk needing the international transfer notation. The option about purchasing a property also means arrival the next day and the international transfer listing.

 

If you're with Bangkok Bank it'll be just after 2:00pm the next day I'm sure?

 

Remember they don't guarantee it 100% so have a backup if one month it doesn't work as planned.

Thanks.  Yes the BKK transfer arrive after 2pm the next day.

 

[lopburi3]

1 minute ago, TroubleandGrumpy said:

Thanks.  Yes the BKK transfer arrive after 2pm the next day.

 

Actually if you do before about 0900 they arrive the same day at 1400 in my experience.  If later it will be next.

[treetops]

Just now, lopburi3 said:

Actually if you do before about 0900 they arrive the same day at 1400 in my experience.  If later it will be next.

 

Agreed, there is a cut off point in the morning. @Pib I think narrowed it down some time back IIRC.

[ripstanley]

I did a transfer today. Set up and transferred money about 0600 Thai time. In my bank at 1401 and coded FTT.  Transfer from Australia. I use the reason of long term stay.