Wise formerly Transferwise

[rabiedabruce]

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.

[FriendlyFarang]

1 minute ago, rabiedabruce said:

Is this service merely app based?

No

 

1 minute ago, rabiedabruce said:

Must the sender download as well as the recipient?

No

 

2 minutes ago, rabiedabruce said:

Anyone have recent experience?

A few weeks ago when I used it it was still working fine.

[rabiedabruce]

Thanks for this. Sender not really into apps. How do you set it up? And does it really take just minutes? Any advice appreciated.

[KannikaP]

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 February 28, 2023 by KannikaP

[RAZZELL]

Have used Wise for a few years and Remitly.

 

Wise better.

[seajae]

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

[Salerno]

2 minutes ago, rabiedabruce said:

How do you set it up?

Head to https://wise.com/ and set up an account.

 

3 minutes ago, rabiedabruce said:

And does it really take just minutes?

Been so long I can't remember specifics but certainly not an exceptionally long time.

[theoldgit]

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.

[RamenRaven]

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.

[IvorBiggun2]

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

Edited February 28, 2023 by IvorBiggun2

[RamenRaven]

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.

[Henryford]

3 minutes ago, RamenRaven said:

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.

Not my experience. I've done over 70 transfers, all have either come within seconds or next day at 2pm (if not done at the weekend). Larger transfers do not affect the wait time at all.

[Negita43]

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.

 

[lopburi3]

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.

[steve187]

99% of the time, wise from Uk to Thailand takes a few minutes or less.

[NoDisplayName]

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.

[sammieuk1]

Here's a sub-question for this thread dose anyone have a card for Wise up for renewal can you change your UK address to here and get a replacement card sent here ? ????

[KannikaP]

2 hours ago, RamenRaven said:

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.

You must be the only one then. Are you set up correctly?

How difficult can it be to click CONVERT or SEND on the App and indicate what you want to do. It's very simple.

[KannikaP]

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.

[ripstanley]

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.

[scubascuba3]

Kasikorn transfers seem to settle in seconds usually, a new account or large transfer may take longer. A very small minority have issues but likely due to money laundering checks or suspicious activity

[FriendlyFarang]

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.

[IvorBiggun2]

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 February 28, 2023 by IvorBiggun2

[BritManToo]

Pound suddenly went up to 42.7bht. Change now! 

[KannikaP]

6 minutes ago, BritManToo said:

Pound suddenly went up to 42.7bht. Change now! 

Wait a bit, gamble!

[BritManToo]

4 minutes ago, KannikaP said:

Wait a bit, gamble!

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

Edited February 28, 2023 by BritManToo

[KannikaP]

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.

[scubascuba3]

22 minutes ago, BritManToo said:

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

they give you a warning now, if you cancel bla bla bla

[KhunBENQ]

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 February 28, 2023 by KhunBENQ

[KhunBENQ]

2 hours ago, scubascuba3 said:

they give you a warning now, if you cancel bla bla bla

Oh really