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Wise formerly Transferwise


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I use it to transfer GBP to THB every month for Immigration purposes with no problems in five years. Always arrives the day after initiation at 2pm as a foreign transfer. Can do it on phone app or PC.

And after a year or so, most people know it is WISE, so the formerly Transferwise is un-necessary.

 

Edited by KannikaP
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been using it many years now, much cheaper than bank transfers etc, usually have my money the same day if not in a matter of minutes(last week was my latest and another this week), find them very reliable

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21 minutes ago, rabiedabruce said:

Anyone have recent experience?

 

I used the service yesterday to send some cash from the UK to Malaysia for a charity donation, the whole process, from initiating the transfer to the cash arriving in KL, took a few minutes.

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Moneygram has lower fees than Wise, but the transfers often take longer, as long as 2 weeks.

 

I personally prefer Moneygram over Wise if I'm not in a rush. However, whereas incoming fees are not charged with Wise transfers, Moneygram transfers are charged incoming fees. For example, 150-300 baht would charged for Moneygram transfers of 50,000-200,000 baht.

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1 minute ago, IvorBiggun2 said:

Just done a 'Wise' transfer about an hour ago. Informed that my money will be transferred in '7 hours'.

I've done a Wise transfer that took me 7 days, and I was sending money to myself.

The larger the amount, the longer the wait time.

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I recently used Wise for the first time (via laptop) - not overly impressed

The initial transfer screen showed a process of 3 days (from memory) and was completely inaccurate but stayed like that until they suddenly said there was a delay - took them 3 or 4 days to release the money on the UK side (so sitting in their account earning them money at overnight lending rates). Trying to find out what's going on via chat/email not useful or helpful.

 

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1 minute ago, Negita43 said:

I recently used Wise for the first time

First time might have something to do with delay if money was not actually in Wise account - not sure of UK process but in USA the money is often not taken from source account for 2 or 3 days after transfer so money is sitting in source account - not Wise - they make transfer before they receive funds.

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2 hours ago, rabiedabruce said:

Is this service merely app based? Must the sender download as well as the recipient? Have read a mixed bag of reports on this Wise for international transfers. Anyone have recent experience? Thanks

You can visit the Wise website and follow instructions.

https://wise.com/help/articles/2977959/how-do-i-send-money-with-wise

 

If unclear, there are dozens of Youtube videos explaining the process.

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1 hour ago, Negita43 said:

I recently used Wise for the first time (via laptop) - not overly impressed

The initial transfer screen showed a process of 3 days (from memory) and was completely inaccurate but stayed like that until they suddenly said there was a delay - took them 3 or 4 days to release the money on the UK side (so sitting in their account earning them money at overnight lending rates). Trying to find out what's going on via chat/email not useful or helpful.

 

Never happened to me in five years of regular transfers, from PC or phone app. Always on time.

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I have used wise since 2018. I do not use the app. I have had a couple of hiccups but nothing since 2019 when I tagged my account. My extension is base on income. I transfer fortnightly. The money is transferred in the morning before 0900 and arrives in my Bangkok Bank at 1400 marked FTT.

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3 hours ago, rabiedabruce said:

And does it really take just minutes?

This depends mostly on where your money is now.

Some banks in some countries simply take a business day or two to transfer your money to Wise.

Once the money arrives at Wise it usually takes just a few minutes until it arrives in the Thai bank account.

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6 hours ago, IvorBiggun2 said:

Just done a 'Wise' transfer about an hour ago. Informed that my money will be transferred in '7 hours'.

My money was transferred from UK to Thailand in roughly 4 hours. 

Edited by IvorBiggun2
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1 minute ago, BritManToo said:

No need to gamble, if it goes up before 9am tomorrow, I'll cancel and send at the better rate.

I build up a cushion of THB in my Wise account, so I just did 20k and will check the rate in morning. It'll only change by a couple of quid up or down.

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I use it since years for EUR to THB (Bangkok Bank).

As the EUR was going steep up I just initiated a transfer.

As usual I declare for long term stay and money will be in account at about 2 PM tomorrow shown as FTT (foreign transfer).

Like a clockwork except that last month for the first time there was an extra one day delay which made me nervous. WISE excused for the delay and gave a me discount on fee for next transfer (about 8 EUR).

If the EUR continues steep until early tomorrow morning I can cancel the transfer and start again or wait.

Edited by KhunBENQ
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