WISE....Beware !

[kalasiner]

I have been a satisfied customer of WISE for over a decade.

Today 14.00 hrs. they acknowledged receipt of my latest transfer payment and say they will pay the recipient on Monday at 14.00 hrs. Previously payment was forwarded immediately. Now they will withhold my money over the weekend. A disgraceful decline in service from WISE.

[Celsius]

I can only imagine your pain and suffering.....

[scubascuba3]

Maybe your error doing over the weekend, you should know by now

[Lacessit]

I don't know if the OP is aware of this, but Thai banks are not open on weekends.

[DrJack54]

26 minutes ago, kalasiner said:

Now they will withhold my money over the weekend. A disgraceful decline in service from WISE.

You would think I'm making this up.

At 2pm one hour ago my $5000au landed in my Oz bank from Superannuation.

I straight away transfered to Wise.

And to my Kasikorn.

Took couple of minutes.

The Thai partner has already transfered it into her bank 

[KannikaP]

1 minute ago, DrJack54 said:

You you think I'm making this up.

At 2pm one hour ago my $5000au landed in my Oz bank.

I straight away transfered to Wise.

And to my Kasikorn.

Took couple of minutes.

Thai Banks are still open though, so no idea where the OP went wrong.

[CallumWK]

6 minutes ago, Lacessit said:

I don't know if the OP is aware of this, but Thai banks are not open on weekends.

 

Don't know if you are aware of this, but Thai banks don't have to be open to receive Wise payments.

I have received Wise payments often during weekends, and even in the middle of the night

[jacob29]

1 minute ago, KannikaP said:

Thai Banks are still open though, so no idea where the OP went wrong.

Probably the amount involved. If they don't have sufficient cash reserves in their Thailand accounts, they have to wait to balance this first. I've faced this in the past (with smaller amounts), and a few hundreds dollars will transfer instantly, but the larger sum will not.

[KannikaP]

5 minutes ago, jacob29 said:

Probably the amount involved. If they don't have sufficient cash reserves in their Thailand accounts, they have to wait to balance this first. I've faced this in the past (with smaller amounts), and a few hundreds dollars will transfer instantly, but the larger sum will not.

It would be interesting to know how much the OP was talking about in which currency and from where.

[DrJack54]

2 minutes ago, jacob29 said:

Probably the amount involved.

My post earlier. I sent 107k baht started transfer 2.36pm (today) 

In Kasikorn bank 2.40pm 

[worgeordie]

My daughter transferred  3000 quid to me yesterday ,arrived in afternoon ,

 the service was quick ,but was charged 18 .50 Sterling  for the transfer ,I

thought that was a bit much ,is that normal ? thanks

 

regards Worgeordie

[Ohyesuare]

3 minutes ago, worgeordie said:

My daughter transferred  3000 quid to me yesterday ,arrived in afternoon ,

 the service was quick ,but was charged 18 .50 Sterling  for the transfer ,I

thought that was a bit much ,is that normal ? thanks

 

regards Worgeordie

 

It depends how she funded the transfer but that sounds right for that amount, yes.

 

https://wise.com/gb/pricing/send-money?sourceAmount=3000&sourceCcy=GBP&targetCcy=THB

[scubascuba3]

17 minutes ago, DrJack54 said:

My post earlier. I sent 107k baht started transfer 2.36pm (today) 

In Kasikorn bank 2.40pm

Kasikorn will be seconds/minutes usually, i bet 10 baht Op used Bangkok Bank

[Moonlover]

3 minutes ago, jacob29 said:

Probably the amount involved. If they don't have sufficient cash reserves in their Thailand accounts, they have to wait to balance this first. I've faced this in the past (with smaller amounts), and a few hundreds dollars will transfer instantly, but the larger sum will not.

Quite so and it's significant that the O/P's perceived problem occurred on a Friday afternoon.

 

Wise's partners here in Thailand rely on businesses depositing funds into their accounts. Deposits that are ultimately destined to settle accounts in our home countries. It's a 'closed loop' system.

 

I would suspect that deposits would slow down as we head towards the weekend. 

 

BTW I transferred just over 1,000 GBP to my Kasikorn account this morning at around 7:15. It took about 5 seconds.

 

Wise is not broken yet.

[kalasiner]

35 minutes ago, scubascuba3 said:

Maybe your error doing over the weekend, you should know by now

Congratulations on having a 4 day weekend.

I Initiated the transfer on Thursday to receive the next day, Friday...as with more than 100 transfers previously.

[Lacessit]

26 minutes ago, CallumWK said:

 

Don't know if you are aware of this, but Thai banks don't have to be open to receive Wise payments.

I have received Wise payments often during weekends, and even in the middle of the night

Agree, but maybe there's a glitch in the system when there are no staff around to fix it.

 

Personally, I have never had a problem with WISE. There have been occasions when the transfer is not in a few minutes, IIRC one took 24 hours during weekdays.

[billd766]

52 minutes ago, scubascuba3 said:

Maybe your error doing over the weekend, you should know by now

I will be making 2 transfers this afternoon from my UK borderless account. They will be logged as funds to support me in Thailand, and I know that they will not be paid out until just after 2 pm on Monday afternoon.

 

Just the same as they have been for the last 5 years. This is because the Thai central clearing banks need a human to complete the transaction.

 

Because I know this will happen, I plan around it.

 

It isn't rocket science, and I have never needed to complain about it.

[scubascuba3]

6 minutes ago, kalasiner said:

Congratulations on having a 4 day weekend.

I Initiated the transfer on Thursday to receive the next day, Friday...as with more than 100 transfers previously.

you said today 2pm, you losing track of time?

[billd766]

10 minutes ago, kalasiner said:

Congratulations on having a 4 day weekend.

I Initiated the transfer on Thursday to receive the next day, Friday...as with more than 100 transfers previously.

Something that you failed to mention in your OP.

[scubascuba3]

9 minutes ago, billd766 said:

I will be making 2 transfers this afternoon from my UK borderless account. They will be logged as funds to support me in Thailand, and I know that they will not be paid out until just after 2 pm on Monday afternoon.

 

Just the same as they have been for the last 5 years. This is because the Thai central clearing banks need a human to complete the transaction.

 

Because I know this will happen, I plan around it.

 

It isn't rocket science, and I have never needed to complain about it.

Presumably you use Bangkok Bank which require a human for T+1 2pm settlement, Kasikorn will settle in seconds usually, no human

[KannikaP]

2 minutes ago, scubascuba3 said:

Presumably you use Bangkok Bank which require a human for T+1 2pm settlement, Kasikorn will settle in seconds usually, no human

That's OK except for those of us who need the Transaction to show as an International Transfer for Immigration purposes. Does Kasikorn mark an instant transfer as such?

[kalasiner]

2 minutes ago, scubascuba3 said:

you said today 2pm, you losing track of time?

I transferred to WISE on Thursday and they acknowledged receipt today, Friday, at 2pm. Instead of immediately transferring to the recipient...as previously...they, disgracefully, chose to sit on the money over the weekend.

[KannikaP]

2 minutes ago, kalasiner said:

I transferred to WISE on Thursday and they acknowledged receipt today, Friday, at 2pm. Instead of immediately transferring to the recipient...as previously...they, disgracefully, chose to sit on the money over the weekend.

Maybe it was a delay in the method YOU used to transfer to WISE.

For what reason did you mark the Transfer?

[KannikaP]

31 minutes ago, worgeordie said:

My daughter transferred  3000 quid to me yesterday ,arrived in afternoon ,

 the service was quick ,but was charged 18 .50 Sterling  for the transfer ,I

thought that was a bit much ,is that normal ? thanks

 

regards Worgeordie

A SWIFT from say Nationwide costs GBP20, so if WISE's 0.6% is over that, use SWIFT. But that will take a few days.

[treetops]

OP needs to give more details for any decent analysis.

 

Value of transaction.

Source Bank or institution.

Recipient Bank.

Method of funding.

Reason for transfer.

 

My guess is that it was either over 49,999 THB or the reason was for property purchase or long stay.

[Lacessit]

8 minutes ago, kalasiner said:

I transferred to WISE on Thursday and they acknowledged receipt today, Friday, at 2pm. Instead of immediately transferring to the recipient...as previously...they, disgracefully, chose to sit on the money over the weekend.

How much money do you think you lost in interest on the money you transferred, over two or three days?

[rattlesnake]

37 minutes ago, scubascuba3 said:

Kasikorn will be seconds/minutes usually, i bet 10 baht Op used Bangkok Bank

 

Indeed, if the recipient has a BKK Bank account, then this is normal, transfers made on Friday arrive on Monday.

[KannikaP]

23 minutes ago, scubascuba3 said:

Presumably you use Bangkok Bank which require a human for T+1 2pm settlement, Kasikorn will settle in seconds usually, no human

Bangkok Bank only require that extra day if the reason is Long Term Stay or Buying Property in order to mark the transfer as International..

[Zack61]

I occasionally have the same problem but mostly it happens within minutes. Even on weekends. 

[G_Money]

 Been using WISE for years.  Before my transfers arrived in minutes.  Now about 4 working days.  
 

Perhaps because I originate from a US credit union,  not an actual bank.

 

When originating it says it will arrive in minutes, then it says my financial institution makes micro deposits so it will take longer than expected.

 

Whatever that means.

 

Now I just plan for 4 days.  It was nice receiving it in seconds.