Wise is not anymore what it used to be

[Jedimaster]

For 2 months now, my transfers (euro to baht) have taken 24 hours instead of the usual 24 seconds, or minutes, as was the case for the past 5 years.

 

I have contacted Wise repeatedly because they were not exactly willing to provide explanations for these delays.

 

Reading between their lines, and all the blah blah, it appears that these new delays are here to stay.

 

In other words, Wise is now behaving like a regular bank, keeping its customers' money as long as possible, especially overnight, in order to rake in interest money.

 

On top of the big step backwards taken by Wise, it doesn't help that they haven't judged necessary to inform their customers of this significant change, but rather keep on pretending that everything is as usual.

 

 

[Henryford]

My Wise transfer this week took seconds, as usual. But if i transfer to Bangkok Bank it takes upto one day.

[Halfaboy]

Time required for transferring money depends (probably amongst others) on the amount of money you want to transfer. This week I did a test. Some 1.350 € would take seconds and and 1.500 € would take more than a day. Higher amounts (say 10.000 €) and up may take even more time.

[sometimewoodworker]

2 hours ago, Jedimaster said:

For 2 months now, my transfers (euro to baht) have taken 24 hours instead of the usual 24 seconds, or minutes, as was the case for the past 5 years.

 

I have contacted Wise repeatedly because they were not exactly willing to provide explanations for these delays.

 

Reading between their lines, and all the blah blah, it appears that these new delays are here to stay.

 

In other words, Wise is now behaving like a regular bank, keeping its customers' money as long as possible, especially overnight, in order to rake in interest money.

 

On top of the big step backwards taken by Wise, it doesn't help that they haven't judged necessary to inform their customers of this significant change, but rather keep on pretending that everything is as usual.

 

 

Your experience and conclusions are totally independent of mine. 

My last 2 transactions of £2,300 and again £4,500 both within the last month arrived in less than 60 seconds from initiating the transfer pulling from my U.K. bank (RBoS) initiated by Wise to arrival in the Thailand bank (SCB)

 

Previously it took quite a time, up to 3~5 days

Edited 5 hours ago by sometimewoodworker

[Chivas]

RBS as above poster to Wise to SCB is landing in seconds as always

Been tracking the last now 23 transfers since people started quibbling

 

22 landed instantly in few seconds and one took just over an hour

 

(Edited in.....transfers have been sent on every day of a normal week weekends/bank holidays make no difference)

 

I only posted this on one of the Wise FB groups yesterday

 

Initiate transfer laptop/app send via simple bank transfer from saved payee on RBS to Wise

 

Ping seconds later as money hits SCB before I even get the chance to click "I've sent my monies" icon on Wise app

 

I really dont understand what some people are doing I really dont

Edited 4 hours ago by Chivas

[Raindancer]

11 minutes ago, Chivas said:

RBS as above poster to Wise to SCB is landing in seconds as always

Been tracking the last now 23 transfers since people started quibbling

 

22 landed instantly in few seconds and one took just over an hour

 

(Edited in.....transfers have been sent on every day of a normal week weekends/bank holidays make no difference)

 

I only posted this on one of the Wise FB groups yesterday

 

Initiate transfer laptop/app send via simple bank transfer from saved payee on RBS to Wise

 

Ping seconds later as money hits SCB before I even get the chance to click "I've sent my monies" icon on Wise app

 

I really dont understand what some people are doing I really dont

Well, I have been using wise for a few years now.   And despite what amount, what reason I use for transfer, and transferring every time before 7am, it always arrives in BBK account at 14.13 hours same day. 

 

But not at weekends,  which always arrive on the Monday.

 

I have used " pulling from UK bank" and depositing money with wise, prior to transfer.

 

And every transfer shows, " should arrive in seconds"  prior to confirming transfer.

 

But 6/7 hours is fine by me.

 

So, it must be a BBk bank issue.

[Chivas]

5 minutes ago, Raindancer said:

Well, I have been using wise for a few years now.   And despite what amount, what reason I use for transfer, and transferring every time before 7am, it always arrives in BBK account at 14.13 hours same day. 

 

But not at weekends,  which always arrive on the Monday.

 

I have used " pulling from UK bank" and depositing money with wise, prior to transfer.

 

And every transfer shows, " should arrive in seconds"  prior to confirming transfer.

 

But 6/7 hours is fine by me.

 

So, it must be a BBk bank issue.

 

Could well be yes. Although I've only "monitored" the last 23 transfer obviously I did many prior to that. I dont recall ever having a "next day" arrival of monies

Now I've always done it the same way. Money not on Wise accounts, no debit cards, no credit cards, but simple I send them the money and I do wonder if its that reason that all mine are instantaneous

[quake]

Only used wize a few times in the last 3 years.

every time 1-2 days.

Maybe because it comes from the isle of Man.

[Seppius]

Just did a large'ish transfer from the uk to Kbank with Wise, the usual seconds. Got 43.89, I thought I would take that, who knows after the US election result where it might go.

 

Bitcoin and crypto seem to like what it sees, soaring. ATH for BTC

[Raindancer]

2 hours ago, Chivas said:

 

Could well be yes. Although I've only "monitored" the last 23 transfer obviously I did many prior to that. I dont recall ever having a "next day" arrival of monies

Now I've always done it the same way. Money not on Wise accounts, no debit cards, no credit cards, but simple I send them the money and I do wonder if its that reason that all mine are instantaneous

So, to clarify your procedure. 

 

Do you send the money from bank to wise first,or initiate a transfer from wise to Thsi bank,  and then transfer the money from UK  bank to wise?

[Chivas]

6 minutes ago, Raindancer said:

So, to clarify your procedure. 

 

Do you send the money from bank to wise first,or initiate a transfer from wise to Thsi bank,  and then transfer the money from UK  bank to wise?

 

No I fill in the amount I want to send whether on app or desktop

Click through the "reason" for sending

Then app or desktop basically says "send us the money"

 

On to Royal Bank of Scotland....via the saved payee of Transferwise.....enter amount to send and then ping it to Wise

 

As I ping to Wise its landing already in 2-3 seconds into SCB

[Raindancer]

1 minute ago, Chivas said:

 

No I fill in the amount I want to send whether on app or desktop

Click through the "reason" for sending

Then app or desktop basically says "send us the money"

 

On to Royal Bank of Scotland....via the saved payee of Transferwise.....enter amount to send and then ping it to Wise

 

As I ping to Wise its landing already in 2-3 seconds into SCB

Many thanks..

[sometimewoodworker]

31 minutes ago, Raindancer said:

Many thanks..

For me the process is 

request the transfer from Wise to a pre saved SCB account,

they ask from where I select my pre saved RBS account.

wise transfers me to RBS where I authorise the amount pre determined go through the RBS security and I am returned to Wise who have already received the RBS transfer and requested the transfer in Thailand.

 

Since I have filled in the required information to allow wise to request a transfer from RBS previously I only fill in the amount once in Wise and just check the amount and click which RBS account to pull from. This process and the U.K. banking process makes everything extremely fast and secure.

 
I suspect that my transfer is a couple of seconds faster than @Chivas as I have fewer steps. I used to do it his way but now let Wise fill in the amount. But they are both secure and fast 

[Raindancer]

31 minutes ago, sometimewoodworker said:

For me the process is 

request the transfer from Wise to a pre saved SCB account,

they ask from where I select my pre saved RBS account.

wise transfers me to RBS where I authorise the amount pre determined go through the RBS security and I am returned to Wise who have already received the RBS transfer and requested the transfer in Thailand.

 

Since I have filled in the required information to allow wise to request a transfer from RBS previously I only fill in the amount once in Wise and just check the amount and click which RBS account to pull from. This process and the U.K. banking process makes everything extremely fast and secure.

 
I suspect that my transfer is a couple of seconds faster than @Chivas as I have fewer steps. I used to do it his way but now let Wise fill in the amount. But they are both secure and fast 

Interesting procedure.

 

I will look into connecting my UK bank with wise.

 

Thank you for the info.

Edited 35 minutes ago by Raindancer
Amendment