Wise problems

[ripstanley]

7 hours ago, KannikaP said:

I have always sent my monthly Immigration transfer via Wise to Bangkok Bank, ticking the long term stay option. This has always made it take until 14.04 the next day to arrive in Bkk Bank. 

Today I did exactly the same, and got the message that it would be here in 7 hours ie on 31st May, when it needs to be in June. I cancelled the transfer and will do it again later this evening so that it arrives, as a Foreign Transfer on 2nd June.

It will not arrive on the 2nd. That is a Sunday. The 3rd is a public holiday so it should arrive on the 4th at around 1400 Thai time. I also need the FTT on my account and BKK  Bank only post it to your account at about 1400 on a non weekend or PH. If I  pay using PayID  before 0900 Thai time it will arrive  at about 1400 the same day. I am sending from Australia.

[Moonlover]

14 hours ago, BritManToo said:

What's going on is Nationwide isn't a proper bank and it's been like that forever.

This is complete nonsense. I always use Nationwide to transfer my money into Wise and only ever takes seconds. Very often I get a 'notification' ping on my mobile acknowledging receipt by Wise before I've even had chance to close the NBS app!

[OJAS]

4 hours ago, KannikaP said:

Not in my experience. Start the 'long term' transfer before 6am, Thai time, and it will probably arrive same day at 14.05 ish as an FTT.

After 6am it takes an extra day.

 

Might depend on whether you're pulling money from a home country bank account or a Wise account, though. Following a transfer from my UK bank account to my Wise account last Tuesday (which took longer than usual to finalise thanks to a public/bank holiday in the UK on Monday), I then initiated an onward Wise transfer based on the "funds for long term stay in Thailand" reason just after 9:30. I was initially informed that the GBP would be taken from my Wise account at 10:00. In the event the money was taken a few minutes earlier, and the converted THB landed up in my Bangkok Bank account just over 4 hours later at 14:00.

 

So, in stark contrast to others on this particular thread, I have absolutely no complaints about Wise based on recent experience. Also worth mentioning that the amount I was transferring on this particular occasion was 4 times greater than the amount of my normal Wise transfers!

[sandyf]

10 hours ago, Madgee said:

A Canadian neighbour has to wait 4-5 working days for a transfer to be completed by Wise, sometimes even longer. 

 

I have been paying a company in Canada from Wise UK for several years and it has always taken in excess of 24 hours and sometimes a few days.

[TheAppletons]

12 hours ago, treetops said:

 

Can you expand on the process for Wise "pulling" from your bank?  I always fund my transfers by sending money from my bank to Wise and wasn't aware of a pull option.  I wonder if that is causing the issue.

 

  The "pull" option is what I use - I initiate the transfer from the WISE app, not from my credit union.  Was never a delay problem until WISE partnered with PLAID.  What previously took a day now takes a week.

 

  WISE recently informed me that I could speed up my transfers by going into the settings of my account and obtaining "instant verification" for my credit union account.  It appears that this is a process whereby WISE/PLAID will re-direct you to the log-in page of your bank/credit union and record your log-in for verification purposes.  I have no intention of sharing my bank/credit union's log-in credentials with another entity so that's a non-starter for me.  

[superal]

14 hours ago, treetops said:

 

Can you expand on the process for Wise "pulling" from your bank?  I always fund my transfers by sending money from my bank to Wise and wasn't aware of a pull option.  I wonder if that is causing the issue.

Quite simple really . Wise have my debit card number which gives access to my UK bank account . They simply apply to the bank for the transfer money that I asked for . Normally done in seconds unless the amount exceeds 300 GBP . In that case I have to use my card reader to get a code to give to my bank as a security measure . This procedure has never caused a delay on Wise drawing money from my UK bank . My reasons for requesting a transfer on the Wise app page are nearly always 

 for medical expenses . IMO there is no mystery why there are delays in paying out . Simply Wise holding on to the money 

as long as possible to gather interest . When you consider the amount of transactions that Wise carry out daily , it will no doubt be a large amount of money .

[superal]

15 hours ago, connda said:

Like I said - the person on the end of the customer service line basically  speaks the corporate "script" that is given to them.  They don't "lie."  They tell you want they are told to tell you!

You were rude to someone who has very little control over your transaction so you belittled them - you need to be lectured.  Complain to management.  You don't seem to grasp how corporate customer service actually works: who has power, and who does not.

Go preach elsewhere and stop wasting oxygen 🤐

[Bangkok Barry]

 

I have done a Wise transfer from HSBC UK to Bangkok Bank on this Saturday morning, and the money arrived in 10 seconds, according to them. So, business as usual. For me at least.

[noobexpat]

.

[Moonlover]

2 hours ago, superal said:

Simply Wise holding on to the money 

as long as possible to gather interest . When you consider the amount of transactions that Wise carry out daily , it will no doubt be a large amount of money .

This is complete nonsense! Wise do not hold on to your money in order to accrue interest. They hold on to it ANYWAY and pay you from their funds lodged with their partners in Thailand. (no money cross's borders remember?)

 

The monies that they accrue in the UK are used to pay the creditors of entities who are doing business with companies in Thailand. This suits the Thai companies because they don't have to scratch around for foreign currency to pay their creditors. It's a closed loop system. 

 

I read above that there is no delay in the in-payments from your UK bank, therefor any delays that you encounter will almost certainly in the paying out procedure at this end. And that is beyond the control of Wise.

[ChaiyaTH]

I changed to just selling USDT with P2P on various exchanges and get realtime Thai baht. I can also buy the USDT without fees in minutes from EURO/USD/GBP banks. The exchange rate is 9/10 times the exact same as Google says it is and it never takes more than 5-10 minutes in total.

[Chivas]

23 hours ago, NoDisplayName said:

 

 

You wrote "Got an email from them saying they had received my money from my bank."  Are you having Wise pull from your bank, rather than sending from your bank to Wise?

 

Indeed I always send to Wise myself using saved "payee" bank transfer

My one of this current week a relatively low amount (which normally lands in seconds) was delayed being sent out and also delayed credited to the Thai account by few hours

Unusual but no reason to throw toys out of the pram

 

Wise has always worked superbly for me. When you can sit on the beach receive work generated "income" from investments and literally in 2 minutes send to Wise and onwards to Thai account it doesnt get much better

 

By the time you've finished your Coolie on the beach you've reloaded your account lol

[jaideedave]

FYI >Sat,June1st> Wise users: I set up my monthly transfer @ 16:19 from my Canadian bank to Wise. Money deposited to Kbank @16:52. (30 mins)

All back to normal in my case.20$ fee up from 14$. My Cda bank used to rip me off for over 60$...before I found Wise.

I'm quite happy with this. My transfer the other day took 12 hours for some reason. PS: This time I checked "money for everyday expenses" as opposed to "money for long term stay", don't know if that made any difference.

[mfd101]

On 5/31/2024 at 12:06 PM, John Drake said:

Transferred from the US to Thailand on 3 May and only received it on 7 May.

3 May was a Friday. 6 May was a bank holiday in Thailand.

[billd766]

1 hour ago, jaideedave said:

FYI >Sat,June1st> Wise users: I set up my monthly transfer @ 16:19 from my Canadian bank to Wise. Money deposited to Kbank @16:52. (30 mins)

All back to normal in my case.20$ fee up from 14$. My Cda bank used to rip me off for over 60$...before I found Wise.

I'm quite happy with this. My transfer the other day took 12 hours for some reason. PS: This time I checked "money for everyday expenses" as opposed to "money for long term stay", don't know if that made any difference.

I do a forex rate every day between KBank, BKK bank, Wise and XE and KBank has the lowest forex rate every day.

 

I have attached a file for the forex rate 2024 if you wish to compare them. They are based on the bank mid rates and usually done around 11:30 am Thai time.forex 4 together 2024.xlsxforex 4 together 2024.xlsxforex 4 together 2024.xlsx

[Doctor Tom]

Just did a wise transfer from UK to SCB, it took 5 seconds to get into my account. 

[Yagoda]

On 5/30/2024 at 10:11 AM, superal said:

I have used Wise for 14 years here in Thailand . I have recommended them to many others . Always give 10/10 on their customer satisfaction surveys . However over the last 3 days they have , on one occasion , not made my transfer after 24 hours , so I cancelled and made a fresh transfer for slightly less money . When filling out the transfer form they said you money should arrive in seconds but no it did not .  Got an email from them saying they had received my money from my bank and that was it . So I tracked the transfer and it told me it would pay out at a given time which was 6 hours after the initial transfer . Normally I get the money in 1 minute and can access from an ATM straight away . I am used to the instant transfer but this latest event means some forward planning ahead to get funds transferred . Anyone else having the same experience as me ?

Ive given up on Wise since they started their shenanigans about the times involved in transfers and its comforting to see others are pissed too. 

 

Their rationale is that my accounts arent verified, even though I have been drawing from them for years. 8 days from a major bank to Thailand? Nope.

 

 

[HighPriority]

3 hours ago, Yagoda said:

Ive given up on Wise since they started their shenanigans about the times involved in transfers and its comforting to see others are pissed too. 

 

Their rationale is that my accounts arent verified, even though I have been drawing from them for years. 8 days from a major bank to Thailand? Nope.

 

 

So you refuse to verify your account and it’s their fault…?

Ummm, ok 👍🏼

[Yagoda]

18 minutes ago, HighPriority said:

So you refuse to verify your account and it’s their fault…?

Ummm, ok 👍🏼

Well no, not exactly, the accounts have been verified for years. All of a sudden, their system doesn't recognize it, and it won't let me reverify. I can use my debit card of course for an instantaneous transfer at a significantly higher fee. In fact, it's cheaper for me to just walk in the bank and withdraw right off my us card and then deposit.  Is that a little more clear for you Sparky?

[Doctor Tom]

Many of you guys must be using a different 'Wise' to me.  Its quick and cheap to use. Yes there is the odd delay, but very rarely and its always on the Thai end.   Not sure why others are being charged excessively, in their view.  My fees for transfers are way below any when using my debit card in a Thai ATM and the exchange rate is as good or better than any I can get with either a Thai or a UK bank. Very odd.  

[Yagoda]

14 minutes ago, Doctor Tom said:

Many of you guys must be using a different 'Wise' to me.  Its quick and cheap to use. Yes there is the odd delay, but very rarely and its always on the Thai end.   Not sure why others are being charged excessively, in their view.  My fees for transfers are way below any when using my debit card in a Thai ATM and the exchange rate is as good or better than any I can get with either a Thai or a UK bank. Very odd.  

It used to be cheap and fast. Now its cheap and slow for this American using American Banks.

[superal]

23 hours ago, Moonlover said:

This is complete nonsense! Wise do not hold on to your money in order to accrue interest. They hold on to it ANYWAY and pay you from their funds lodged with their partners in Thailand. (no money cross's borders remember?)

 

The monies that they accrue in the UK are used to pay the creditors of entities who are doing business with companies in Thailand. This suits the Thai companies because they don't have to scratch around for foreign currency to pay their creditors. It's a closed loop system. 

 

I read above that there is no delay in the in-payments from your UK bank, therefor any delays that you encounter will almost certainly in the paying out procedure at this end. And that is beyond the control of Wise.

Why would there be a delay in paying out at this end ( Thailand ) . Why is it beyond the control of Wise ? Why are some transfers paid in seconds but others are delayed ? Their is no consistency with Wise anymore which is a pity because in the last 14 years of using them I have never had a problem , until now and I am not alone on this .

Do you have the info to back your statement that money is used to pay entities in the UK ?

[superal]

14 hours ago, Yagoda said:

Ive given up on Wise since they started their shenanigans about the times involved in transfers and its comforting to see others are pissed too. 

 

Their rationale is that my accounts arent verified, even though I have been drawing from them for years. 8 days from a major bank to Thailand? Nope.

 

 

Thanks Yagoda , may I ask if you have found a better alternative ?

[Moonlover]

26 minutes ago, superal said:

Why would there be a delay in paying out at this end ( Thailand ) . Why is it beyond the control of Wise ? Why are some transfers paid in seconds but others are delayed ? Their is no consistency with Wise anymore which is a pity because in the last 14 years of using them I have never had a problem , until now and I am not alone on this .

Do you have the info to back your statement that money is used to pay entities in the UK ?

 

This is copied from the UDS website Link to UDS

 

'Peer-to-Peer Transfer System

 

Wise operates a unique peer-to-peer system that matches user transfers with someone sending money in the opposite direction. By doing so, Wise can minimize or eliminate the need for traditional currency conversion, resulting in fairer and more competitive exchange rates'.

 

There is a more comprehensive description elsewhere, but I have better things to do with my time than go searching for it.

 

No I do not know why payments are slow just now. Maybe it's connected with Thailand's sluggish economy.

 

[The Oracle]

Same here.  Been using them for about eight years.  Went from a few hours - which was fine; better than overnight - down to about ten seconds.  About a month- six weeks ago it took three hours to arrive.  Then back to minutes, if not seconds.
However, my last transfer, took from 0645 (when I initiated the transfer) to 1445 (when they finally sent it to my Thai bank) when they sent me message saying it could take "up to fifteen minutes".  It didn't arrive until 1000 the next day;  Over TWENTY SEVEN HOURS after my intial transfer request.

Then I got an email saying my Wise banking details are changing from bank-state-branch (BSB) and account number to a direct banking system account (BSB).  The details of which they sent me but it doesn't exist in the BSB system.

Very sloppy.  Makes me wonder if they've been bought by a bank and are slowly being undermined.

[superal]

3 minutes ago, Moonlover said:

 

This is copied from the UDS website Link to UDS

 

'Peer-to-Peer Transfer System

 

Wise operates a unique peer-to-peer system that matches user transfers with someone sending money in the opposite direction. By doing so, Wise can minimize or eliminate the need for traditional currency conversion, resulting in fairer and more competitive exchange rates'.

 

There is a more comprehensive description elsewhere, but I have better things to do with my time than go searching for it.

 

No I do not know why payments are slow just now. Maybe it's connected with Thailand's sluggish economy.

 

What ever the mechanics are for the Wise transfer system are not really an interest to most users , only that Wise commit to their promise of quick transfers . When Wise state that the monies will be paid out in seconds ( as is the case most times ) but then do not deliver until much later , that is annoying especially to ex-pats on a limited income who have become used to an instant transfer and are relying on the funds to hit their Thai account in seconds .  I suppose that answer is to plan for a delay when making a transfer when using Wise .

[KannikaP]

24 minutes ago, superal said:

that is annoying especially to ex-pats on a limited income who have become used to an instant transfer and are relying on the funds to hit their Thai account in seconds .  I suppose that answer is to plan for a delay when making a transfer when using Wise .

Are you referring to stupid expats, and others, who cannot organise their finances to last them another 24 hours.

If you need the money tomorrow, then send it yesterday!   555

[superal]

10 minutes ago, KannikaP said:

Are you referring to stupid expats, and others, who cannot organise their finances to last them another 24 hours.

If you need the money tomorrow, then send it yesterday!   555

Not stupid ex-pats but those who have become used to instant transfers using Wise . I am in a fairly comfortable financial state but there are ex-pats in Thailand and other Asia countries who live week to week or month to month . I do know a couple of ex-pats in that situation living in Thailand with their Thai wife and children  .

[HighPriority]

2 hours ago, Yagoda said:

It used to be cheap and fast. Now its cheap and slow for this American using American Banks.

It’s still sounding like it’s at your end sparky

[Yagoda]

15 minutes ago, HighPriority said:

It’s still sounding like it’s at your end sparky

Well actually young fella, it on theirs as they tell me. But no mind, its conveneince rather than a necsssity, when I go to the USA next moth Ill just grab a a few thousand cash to fatten up my Asian accounte and save the fees