Wise - So much for seconds or hours, how about days

[CALSinCM]

Most recent transfer from Wise.  Sent today but will not receive until Wednesday.  Five days?  Wow.  "Seconds" huh?

[PPGuy]

Maybe need more info on the transfer to understand the reason(s) for such a delay.

 

But a major element could be the upcoming weekend and public holiday on Monday, especially if there is a need for an FTT notification if using Bangkok Bank as the receiving bank.

[ozfarang]

Sent today(this morning) and arrived in my account in 30 seconds.

 

Wow, seconds, just as they advertised ????

[KannikaP]

3 minutes ago, PPGuy said:

Maybe need more info on the transfer to understand the reason(s) for such a delay.

 

But a major element could be the upcoming weekend and public holiday on Monday, especially if there is a need for an FTT notification if using Bangkok Bank as the receiving bank.

Started a transfer yesterday at 12 noon, arrived in Bkk Bank as an International Transfer at 14.02 today........as usual.

Today is Friday,with holiday on Monda, so Wednesday sounds about right. What did you put was your reason for the transfer?

Edited March 3, 2023 by KannikaP

[Kwasaki]

Transfered some yesterday from my UK bank to Wise then today sent some to my Thai Bank,  faster than a missile.

[Bangkok Barry]

I did a transfer from the UK to Bangkok Bank on Wednesday at 9am Thai/2am UK time, arrived in eight seconds according to their email, which arrived slower than the money. And that has usually been my experience.

As to holidays/weekends/overnight, that belongs to the last century. Such things have no relevance in the electronic age. As my instant transfer this week indicates.

[norfolkandchance]

Happened to me 2 weeks ago. Hopefully you'll get something similar.

[phetphet]

Public holidays do seem to cause a delay in transfers.

[scubascuba3]

7 seconds a few days ago to Kasikorn.

 

Delays can be caused by new accounts, suspicious transfers, dubious people, bank holidays

[ripstanley]

43 minutes ago, Bangkok Barry said:

I did a transfer from the UK to Bangkok Bank on Wednesday at 9am Thai/2am UK time, arrived in eight seconds according to their email, which arrived slower than the money. And that has usually been my experience.

As to holidays/weekends/overnight, that belongs to the last century. Such things have no relevance in the electronic age. As my instant transfer this week indicates.

Holidays/weekends etc do mater if you require your money to be coded as a foreign transfer. I can only state for Bangkok Bank. To gain this code it has to be coded manually by staff who only work weekdays.  

[Bangkok Barry]

3 minutes ago, ripstanley said:

Holidays/weekends etc do mater if you require your money to be coded as a foreign transfer. I can only state for Bangkok Bank. To gain this code it has to be coded manually by staff who only work weekdays.  

Thanks. That might well be a possible reason for a long delay. I go to bed tonight wiser (excuse the pun) than when I woke this morning. Always a good thing.

 

I imagine for most of us though that might be the exception rather than the norm. The source of my monthly transactions don't have to be shown, only the balance in my account. 

[MJCM]

I sent 35k over to BBL and it says 7th March, but I sent it at around 1pm and was already expecting it to arrive Monday but forgot about the Holiday on the 6th

[KannikaP]

I just got this from Wise.

 

You got 11.39 GBP. That's 40% of the fees you paid Wise in February.

As the costs to provide you with our services were less in February, we’re giving you back a percentage of the fees we charged you last month. Learn more about why we’re giving a percentage of your fees back.

[KhunBENQ]

3 hours ago, norfolkandchance said:

Happened to me 2 weeks ago. Hopefully you'll get something similar.

Similar for me.
But the case in the OP is different as announced for Tuesday.

I sent EUR to Bangkok Bank, purpose for long stay and receive next weekday at 2:xx PM.

When I send on Friday it is Monday.

But as others wrote coming Monday March 6 is a public/bank holiday.

I am fortunate enough that I don't drain my funds to zero, so a day or two doesn't hit me.

 

 

[KannikaP]

18 minutes ago, KhunBENQ said:

I am fortunate enough that I don't drain my funds to zero, so a day or two doesn't hit me.

No you are not fortunate, you are intelligent & doing the clever thing.

I exchanged a couple of 1000 GBP into THB last Tuesday when it hit almost 43, but keep it in my Wise THB account on my Borderless card to use for transfer next month.

[norfolkandchance]

31 minutes ago, KhunBENQ said:

Similar for me.
But the case in the OP is different as announced for Tuesday.

I sent EUR to Bangkok Bank, purpose for long stay and receive next weekday at 2:xx PM.

When I send on Friday it is Monday.

But as others wrote coming Monday March 6 is a public/bank holiday.

I am fortunate enough that I don't drain my funds to zero, so a day or two doesn't hit me.

 

 

Mine was a Wednesday, received Friday late afternoon.

[TheAppletons]

On 3/3/2023 at 6:03 AM, KannikaP said:

I just got this from Wise.

 

You got 11.39 GBP. That's 40% of the fees you paid Wise in February.

As the costs to provide you with our services were less in February, we’re giving you back a percentage of the fees we charged you last month. Learn more about why we’re giving a percentage of your fees back.

So will choose to continue receiving refunds or will you choose the "opt out" alternative? 

 

(I wonder if they are required by law to offer this option.)

 

"Wise has automatically enrolled a trial group of customers in the UK into receiving fee refunds.

If you’d like to stop receiving refunds, you can opt out at any time."

 

[lkn]

1 hour ago, TheAppletons said:

I wonder if they are required by law to offer this option.

For last year, I received a total of 0.60 EUR as interests (balance cashback).

 

In theory, I now have to report this to the tax authorities, and if I want to get a deduction for the withholding tax, I believe it needs to be reported as “foreign income / capital gains” (of which some tax has already been paid), which may lead to my tax return taking longer to process.

 

When I saw the opt-out option, I figured it was for situations like mine, where getting the money is probably more trouble than it is worth.

[lkn]

It seems Wise has different routes for money below and above 50,000 baht, and also for money that needs to be reported as “from abroad”.

 

If below 50,000 baht, it’s pretty much always instant, above 50,000 baht and it may take a little longer (although can still be seconds), and money “from abroad”? I have no personal experience, but this is probably where the “two bankdays” can happen, i.e. normal bank settlement standards.

[KannikaP]

2 minutes ago, lkn said:

It seems Wise has different routes for money below and above 50,000 baht, and also for money that needs to be reported as “from abroad”.

 

If below 50,000 baht, it’s pretty much always instant, above 50,000 baht and it may take a little longer (although can still be seconds), and money “from abroad”? I have no personal experience, but this is probably where the “two bankdays” can happen, i.e. normal bank settlement standards.

Below 50k is NOT always instant, if for example, you say it is for Long Term Stay or Buying Property then it will arrive the next day.

I DO HAVE personal experience of this contrary to you.

[KannikaP]

1 hour ago, TheAppletons said:

So will choose to continue receiving refunds or will you choose the "opt out" alternative? 

 

(I wonder if they are required by law to offer this option.)

 

"Wise has automatically enrolled a trial group of customers in the UK into receiving fee refunds.

If you’d like to stop receiving refunds, you can opt out at any time."

 

Why would I ,or anyone, opt out of getting money back from a company/bank?

[sammieuk1]

Time for another name change suggest snail-wise ????

[lkn]

4 hours ago, KannikaP said:

Below 50k is NOT always instant, if for example, you say it is for Long Term Stay or Buying Property then it will arrive the next day.

I DO HAVE personal experience of this contrary to you.

That would be the “money from abroad” (required for buying property or documenting your retirement visa). Sorry if it wasn’t clear that when you pick this, the amount obviously does not matter, as it needs to be from abroad and therefore go through regular bank settlement, rather than just an instant domestic transfer from one of Wise’s local Thai accounts.

Edited March 4, 2023 by lkn

[KannikaP]

1 minute ago, lkn said:

That would be the “money from abroad” (required for buying property or documenting your retirement visa). Sorry if it wasn’t clear that when you pick this, it obviously does not matter the amount you are sending, as it needs to actually be from abroad and therefore go through regular bank settlement, and not just a pay-out from one of Wise’s local Thai accounts.

I was under the impression that it actually DOES come from one of Wise's local Thai accounts, but their partner banks 'get round it' somehow, otherwise it shows as a local transfer.

[treetops]

13 hours ago, lkn said:

It seems Wise has different routes for money below and above 50,000 baht, and also for money that needs to be reported as “from abroad”.

 

If below 50,000 baht, it’s pretty much always instant, above 50,000 baht and it may take a little longer (although can still be seconds), and money “from abroad”? I have no personal experience, but this is probably where the “two bankdays” can happen, i.e. normal bank settlement standards.

It was 50,000 THB but appears to have changed a little while back to 100,000 THB.  First screenshot shows seconds and the next one Tuesday (Thai holiday on Monday).

 

 

[stevenl]

13 hours ago, KannikaP said:

Below 50k is NOT always instant, if for example, you say it is for Long Term Stay or Buying Property then it will arrive the next day.

I DO HAVE personal experience of this contrary to you.

My normal 1000 euro transfers for 'funds for long term stay' are there in seconds 

[treetops]

21 minutes ago, stevenl said:

My normal 1000 euro transfers for 'funds for long term stay' are there in seconds 

It also depends on your recipient bank.  Some can't show the international coding and so transfers go the quick route if below the (currently) 100,000 THB threshold.

[Caldera]

I've never understood the fascination with WISE, it has always been quite an unreliable option.

 

Meanwhile I could do SWIFT transfers from back home to my Thai bank account that arrived 1-2 business days later right when I opened my first Thai bank account in 2004. They still work the same and have been reliable ever since, never an issue.

 

Then I read all the WISE reports on here. Coding issues for the retirees, a ridiculously low 50,000 baht transfer limit unless transferring to 3 select banks, payment delays, blame games with the partner banks if and when something goes wrong, the list keeps growing.

 

A bit much aggravation just to save a few dollars?

 

 

[KannikaP]

10 hours ago, stevenl said:

My normal 1000 euro transfers for 'funds for long term stay' are there in seconds 

And are they marked as Foreign Transfers? To which bank are you transferring please?

[stupidfarang]

You need to look out for any public holidays in Thailand and the country you are sending from. I try to send Monday to Thursday. If you sent from the UK on Friday there is a public holiday on Monday in Thailand so that would add up to 4 days