Wise Transfers- Caution - Fees

[Wrwest]

6 hours ago, Raindancer said:

Some of you may be aware of the information in my post  and some of you may already know.

This is for the the unaware.  

 

I made a transfer yesterday of GBP to Thai baht.  On the opening page, I noticed that the fees were almost 60% higher than normal.

 

My previous transfers always defaulted on the opening page, to transfer from bank.

 

Yesterday I looked to the right and it stated " Fast and easy transfer", with a drop down box.  This allowed me to change to bank transfer and the fees changed to a lower figure.

 

I hope this helps some of you.

 

Regards.

I have seen this occurring some time back. Thus, I do always check to see that it shows an EFT transfer from my U.S. bank to Wise. The rate is noticeably lower.

[rexpotter]

5 hours ago, Moonlover said:

The primary mission of Wise is to facilitate the transfer of funds from the 'hard currency' zones to the less developed parts of the world. They never have, and probably never will, facilitate movements in the other direction, nor between developing countries. If you think otherwise you obviously do not understand how Wise operates.

 

To rant about Wise in the way that you have is like moaning about a math's tutor who is unable to teach classic history.

I guess I don't. Thanks for telling me. YOU must know everything about everything.

[Confuscious]

I would not recommend to use WISE for any transaction to anybody.
Use bank transferts.
I send WISE an email a few days ago, asking a simple question about money transferts, and they could not give me a response to it.

[n00dle]

On 2/28/2024 at 7:33 AM, Raindancer said:

Some of you may be aware of the information in my post  and some of you may already know.

This is for the the unaware.  

 

I made a transfer yesterday of GBP to Thai baht.  On the opening page, I noticed that the fees were almost 60% higher than normal.

 

My previous transfers always defaulted on the opening page, to transfer from bank.

 

Yesterday I looked to the right and it stated " Fast and easy transfer", with a drop down box.  This allowed me to change to bank transfer and the fees changed to a lower figure.

 

I hope this helps some of you.

 

Regards.

I use Wise pretty much weekly to receive and send funds from the US (Im not a US citizen, and have no US bank account)when income on that end reaches a certain level. My most recent transaction was yesterday using the mobile app. I have never had an issue. 

[soalbundy]

9 hours ago, KhunBENQ said:

No change for EUR transfers.

There had always been different options with different prices.

Cheap option cost about 14 EUR for 2000 (0.7%).

There were slight increases over the years. I remember about 0.62% in the past.

 

What has changed is that 'sofort pay with Klarna' can't be used all of a sudden and with my Maestro giro card I had no other way to transfer funds, I had a German friend transfer 2,000 Euros to me and I reimbursed him using SEPA.

[markus]

11 hours ago, KhunBENQ said:

No change for EUR transfers.

There had always been different options with different prices.

Cheap option cost about 14 EUR for 2000 (0.7%).

There were slight increases over the years. I remember about 0.62% in the past.

 

Does it sometimes happen to you that it says your money is transferred within seconds and then it takes several days?

[ryxyz]

They wanted me to change from my default ACH to debit/credit card last month, so I used Moneygram instead. Yes, the Moneygram transfer was deposited directly into my bank account, and I don't think I lost much because the fee was very low, and the deposited amount was more than what I'd have received had I used the funding method requested by Wise.

[Moonlover]

13 hours ago, markus said:

Does it sometimes happen to you that it says your money is transferred within seconds and then it takes several days?

Never. There are sometimes short delays due to 'technical issues', but certainly not several days!

 

One factor I have discovered is, that unless you specifically need to use 'Funds for long term stay in Thailand', don't. It can and does hold up your payment. I always use 'General monthly living expenses' and I've never had a problem since I switched to using it.

 

 

[george]

Here is a comparison between WISE and Revolut, you may find that they are similar but also has a lot of differences, like exchange rates:

 

 

 

[markus]

On 2/29/2024 at 4:26 AM, Moonlover said:

Never. There are sometimes short delays due to 'technical issues', but certainly not several days!

 

One factor I have discovered is, that unless you specifically need to use 'Funds for long term stay in Thailand', don't. It can and does hold up your payment. I always use 'General monthly living expenses' and I've never had a problem since I switched to using it.

 

 

Thx I gonna try it...

[Moonlover]

7 hours ago, markus said:

On 2/29/2024 at 10:26 AM, Moonlover said:

Never. There are sometimes short delays due to 'technical issues', but certainly not several days!

 

One factor I have discovered is, that unless you specifically need to use 'Funds for long term stay in Thailand', don't. It can and does hold up your payment. I always use 'General monthly living expenses' and I've never had a problem since I switched to using it.

 

7 hours ago, markus said:

Thx I gonna try it...

 Just did it yesterday. Payment arrived in my Krungsri account in about 10 seconds.

[n00dle]

On 2/28/2024 at 8:41 PM, markus said:

Does it sometimes happen to you that it says your money is transferred within seconds and then it takes several days?

nope. sometimes it will tell me what time I can expect cash but that is usually when I send to family on the US end 

[TheAppletons]

On 2/28/2024 at 8:41 PM, markus said:

Does it sometimes happen to you that it says your money is transferred within seconds and then it takes several days?

 

  This just happened to me.  I set up a transfer from a US credit union account on Thursday - WISE said it should arrive by Friday.

 

  When I went to press "go", WISE suddenly informed me it would take until Wednesday, 6 March (unless I wanted to pay more to send via debit card or SWIFT transfer.)