Wise delay in processing funds into Thai Bank Account

[bondjames007]

I often transfer USD to my Thai Bank Account,  about 4 times a month,  and the transfer is usually is processed in seconds.

 

For some reason today I got the following message:

 

Anyone else having or had issues with using Wise lately ?

 

 

[Moonlover]

Yes I've had a payment that's taken about 24 hours, it's just arrived now in fact, 8:30pm. I would suspect they were low on local funds due to the long weekend. It's happened before, they like to deliver a quick service and they usually do, but they do not guarantee it.

[MJCM]

Same here, send money to my wife’s account to help with funeral of her father who died this morning and first (I send it at 8:30am) it said it would arrive at 11:00am, but that went and gone, so I thought 2pm it would arrive, nope it finally arrived around 10mins ago so it took around 12hrs.

[bondjames007]

5 minutes ago, MJCM said:

Same here, send money to my wife’s account to help with funeral of her father who died this morning and first (I send it at 8:30am) it said it would arrive at 11:00am, but that went and gone, so I thought 2pm it would arrive, nope it finally arrived around 10mins ago so it took around 12hrs.

Mine has also just arrived,  some kinda of Delay with the Banks,  1st time this has happened.

 

7 minutes ago, Moonlover said:

Yes I've had a payment that's taken about 24 hours, it's just arrived now in fact, 8:30pm. I would suspect they were low on local funds due to the long weekend. It's happened before, they like to deliver a quick service and they usually do, but they do not guarantee it.

[norbra]

Thai holiday yesterday for birthday King rama 9

Edited December 6, 2022 by norbra
Correction

[Mutt Daeng]

1 minute ago, norbra said:

Thai holiday today birthday day King rama 9

I think that was yesterday

[Mutt Daeng]

Same for me. Transfer took 12 hours today.

Edited December 6, 2022 by Mutt Daeng

[MJCM]

4 minutes ago, norbra said:

Thai holiday today birthday King rama 9

https://www.officeholidays.com/countries/thailand/2022

edit: as said above that was yesterday ( Dec 5th) 

Edited December 6, 2022 by MJCM

[MJCM]

2 minutes ago, Mutt Daeng said:

I think that was yesterday

Exactly. Dec 5th. Fathers day as well

[CharlieH]

MOVED to Banking !

[Phnom Penh Trader]

All funds were invested in FTX?

[Liverpool Lou]

47 minutes ago, bondjames007 said:

Mine has also just arrived,  some kinda of Delay with the Banks

Pretty sure that you'll find the delay is with Wise's own accounts at their banks or their processes, not retail bank-instigated delays!

Edited December 6, 2022 by Liverpool Lou

[Moonlover]

8 minutes ago, Liverpool Lou said:

52 minutes ago, bondjames007 said:

Mine has also just arrived,  some kinda of Delay with the Banks

 

8 minutes ago, Liverpool Lou said:

Pretty sure that you'll find the delay is with Wise's own accounts at their banks or their processes, not retail bank-instigated delays!

Much of the funding for Wise's THB accounts comes from business's paying in funds locally to pay for goods and services in our home countries, which is the reverse of course of our business. Wise then pay the creditors out of the money that we deposited back home. That's how the loop is closed.

 

And as mentioned by myself and a number of others, it's been a holiday period so the inflow of local funds would have been low. It's happened before.

[eisfeld]

I did a transfer in USD *from Wise to Wise* and it was not instant yesterday. So it's not even related to wire transfers or Thailand. They must have some technical issues.

 

A few weeks ago they suspended the business account of a company I work with out of the blue with no real explanation apart from "violation of acceptable use policies" and then stonewalled. Two weeks later they changed course and re-instated the account without ever stating why they did the things they did.

 

Their chat support seems to be unavailable for a couple months already.

 

Something is up there.

Edited December 6, 2022 by eisfeld

[Liverpool Lou]

48 minutes ago, Moonlover said:

 

Much of the funding for Wise's THB accounts comes from business's paying in funds locally to pay for goods and services in our home countries, which is the reverse of course of our business. Wise then pay the creditors out of the money that we deposited back home. That's how the loop is closed.

 

And as mentioned by myself and a number of others, it's been a holiday period so the inflow of local funds would have been low. It's happened before.

That's what I suggested, it's Wise's accounts' problems, not some retail banks' delays as the poster I responded to stated.

[jcmj]

I had the same issue a few weeks back. Took 3 days. Not the service that they used to offer. Something must be going wayward. 

[rumbo1]

I get the same message every time for the last 2 years.

Usually a minimum of 5-7 day's for me and it doesn't make a difference which UK bank I send from or which Thai Bank I receive it in 

[Emeraldisle]

I can't use Wise because they have blocked my account.  They need proof of income source. 

[BritManToo]

8 hours ago, eisfeld said:

I did a transfer in USD *from Wise to Wise* and it was not instant yesterday. So it's not even related to wire transfers or Thailand. They must have some technical issues.

I did a transfer yesterday morning 'for long term stay in Thailand', it was in my BKB account by 2pm.

[Bangkok Barry]

This happens sometimes and no doubt there are reasons for the occasional delays that are beyond our understanding. It isn't the norm, and I got my money in seconds a week ago.

 

What I've given them on feedback is that they need to change their wording when they state that the payment will take seconds, and then after they have your money you get the delay highlighted by the OP. What they should say is expected to take seconds.

[Bangkok Barry]

14 minutes ago, rumbo1 said:

I get the same message every time for the last 2 years.

Usually a minimum of 5-7 day's for me and it doesn't make a difference which UK bank I send from or which Thai Bank I receive it in 

Ask them why. I transfer from a UK bank and the longest it has ever taken in four or five years is two days. Most months the money is there even before I get their email saying it's on its way.

[chang50]

I can happily report that I have just completed a transfer from my wise sterling balance to my thai bank in 9 seconds so whatever the problem was it appears to be ok now.Personally I try to avoid thai holidays and the day after if possible although it may have been an internal wise problem this time.

[Kildonan]

11 hours ago, bondjames007 said:

Mine has also just arrived,  some kinda of Delay with the Banks,  1st time this has happened.

 

Took 11hrs,,,UK Sterling, no reason, "all agents busy",,,no contact available, yesterday Tuesday 6th.

[soalbundy]

11 hours ago, MJCM said:

Same here, send money to my wife’s account to help with funeral of her father who died this morning and first (I send it at 8:30am) it said it would arrive at 11:00am, but that went and gone, so I thought 2pm it would arrive, nope it finally arrived around 10mins ago so it took around 12hrs.

For me that is normal, often it takes 24 hours, German bank- Bangkok bank, Wise is fast enough for me.

[MJCM]

39 minutes ago, soalbundy said:

For me that is normal, often it takes 24 hours, German bank- Bangkok bank, Wise is fast enough for me.

I agree, normally I wouldn't bother to check but because

 

1- They said it's going to arrive at 11:00am (I send it at around 8:30am) and it did not arrive till 8:30pm so that was a bit strange

 

2- Was a bit of an emergency because that morning (yesterday) my FIL died and my wife needed Money for all kind of things, in the end I transferred it from my THAI Bank account so that she could go and buy stuff.

Edited December 7, 2022 by MJCM

[hotandsticky]

1 hour ago, Kildonan said:

Took 11hrs,,,UK Sterling, no reason, "all agents busy",,,no contact available, yesterday Tuesday 6th.

 

 

Same, same. I instructed the payment on the 5th - normally 6 seconds - arrived late on the 6th.

 

 

IMO it was down to the public holiday in Thailand and the agent struggling to cope with volumes on the 6th?

[nickmondo]

never used to happen, but now it happens the majority of the time when i transfer.

as long as it gets there in a few days, i dont really care

[sandyf]

11 hours ago, Moonlover said:

 

Much of the funding for Wise's THB accounts comes from business's paying in funds locally to pay for goods and services in our home countries, which is the reverse of course of our business. Wise then pay the creditors out of the money that we deposited back home. That's how the loop is closed.

 

And as mentioned by myself and a number of others, it's been a holiday period so the inflow of local funds would have been low. It's happened before.

Nothing to do with THB. I had the same message about a month ago sending USD from my UK account to a company in Canada, took about 24 hours. You really think there was a shortage of local funds?

Over a few years the same transaction has varied from almost immediate to several hours. Will see what happens when I make the same payment next week.

The busier Wise gets, the more it will resemble a normal bank. Transactions from my HSBC account vary from a couple of hours to a couple of days. 

[Moonlover]

Reading through the many posts that we've had regarding Wise recently, It's unfortunate that, their reputation appears to have become a 'victim of their own success'. 

 

It is so commonplace now for most of to receive our funds in seconds, that when it doesn't happen we tend to get agitated and start wondering what has gone wrong. Even I do, and I'm probably one of the more laid back guys around here.

 

In one of their quarterly news letters awhile back Wise did state that although they strive meet the demand for fast transfers, they could not always guarantee it and gave a list of possible reasons why not. All of those reasons seemed quite reasonable to me. I wish I'd kept the link for that statement, but sorry it's long gone.

 

Try to be a little more patient with Wise. They strive hard but this is not a perfect world that we live in and we really should make allowances for that.

[Moonlover]

9 minutes ago, sandyf said:

Nothing to do with THB.

You obviously have no idea how Wise operate and I should point out that this discussion is about Thailand and the THB, so your input is not very helpful.

 

Edited December 7, 2022 by Moonlover