WISE....Beware !

[digger70]

  On 12/13/2024 at 7:52 AM, kalasiner said:

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.

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Nothing wrong with that , no drama .

When I transfer funds from AUS  to Thailand  a few times per year with Wise it takes most times 3+ days for the funds to arrive in to my Bank Account

[Dan O]

  On 12/14/2024 at 5:49 AM, KannikaP said:

https://wise.com/us/blog/how-long-does-swift-take

 

You must be very lucky.

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Never taken more than 2 days and thats if it was a weekend or holiday. I use Wells Fargo and send direct to Krunsgsri. There are no internet banks involved which is when you will have a delay. The tracking documents are the best available as you get them from your origin bank and shows your the destination bank info as well so perfect for Imm and are coded properly no matter how many interbank movements occur

[Liverpool Lou]

  On 12/14/2024 at 6:57 AM, KannikaP said:

  On 12/14/2024 at 6:53 AM, Liverpool Lou said:

A branch is a branch, its location does not alter its operation or its normal facilities, the branches on the street offer exactly the same services as mall branches.  When you say "main branch" that would be the Head Office branch, yes?

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The 'dedicated' Bangkok Banks on the street are CLOSED on Saturdays & Sundays, well, here in Phitsanulok. 

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What's a "dedicated" branch, they're all the same.   The branches on the street are closed in Bangkok also, but the mall branches aren't and each one provides full banking services for those who need weekend service.

[Moonlover]

  On 12/14/2024 at 7:01 AM, KannikaP said:

You are rather contradicting yourself saying that the HQ and admin centres are OPEN at weekends (which they are not) but your D Debits do not go out at weekends. I can do Bank transfers to my Mrs's bank instantly, anytime. Or do you think they put the computers on sleep.

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Please go back and read the conversation fully. There is NO contradiction at all.

[IvorBiggun2]

Yes, you can transfer money through Wise over the weekend, but it may only be processed on the next business day: 

 

• Processing: Wise works with banks, so transfers can only be sent when banks are open. 
   
• Guaranteed rates: Wise doesn't usually count the weekend when calculating guaranteed rates. For example, if you set up a transfer with a 48-hour guaranteed rate on Friday, the rate will be guaranteed until Tuesday at 5 PM. 
   
• Transfer status: You can check the status of your transfer in the Wise app. 
   

The time it takes to complete a transfer depends on several factors, including: The currency being sent to and from, The payment method, Banking hours, and Bank holidays in the sender's and recipient's countries. 

 

 

Wise's transfer calculator can provide a general estimate of how long a transfer might take. 

[KannikaP]

  On 12/14/2024 at 7:08 AM, Moonlover said:

Please go back and read the conversation fully. There is NO contradiction at all.

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Quote you. 

Branches yes, but not the HQ and admin centres, where all the transactions are handled.

 

I have a couple of monthly direct debits and they are never paid out at weekends. The same would be true for incoming transactions.

 

Unless we are mixing up OPEN & CLOSED

[KannikaP]

  On 12/14/2024 at 7:07 AM, Liverpool Lou said:

What's a "dedicated" branch, they're all the same.

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No they are not. I cannot replace an ATM Card at the branch at my local hospital, I am sent to the 'dedicated' bank, meaning the big one on the main road in town. If I want a 12 month statement for IO, I must also go to town. The little branch can do 6 months.

But as we all know, one bank is different to the next one.

[Moonlover]

  On 12/14/2024 at 7:17 AM, KannikaP said:

Quote you. 

Branches yes, but not the HQ and admin centres, where all the transactions are handled.

 

I have a couple of monthly direct debits and they are never paid out at weekends. The same would be true for incoming transactions.

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That is NOT the FULL conversation. It is only my reply to Newnative. and is being used out of context. Try again.

[fondue zoo]

If it's urgent use Remitly, slightly more expensive, but delivers every time, any day, within an hour.

I like Wise but they blame the bank and then Remitly sends the same amount almost immediately 5 minutes later.

 

 

[sandyf]

  On 12/13/2024 at 10:08 AM, Dmaxdan said:

Wise's fee may cost slightly more but using them you will get a much, much better exchange rate than any receiving Thai bank will offer you with a direct transfer using Swift. I'm afraid, at the end of the day it's no contest.  

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I have been transferring with HSBC for about 20 years, early doors it was £25 to do it in branch and £17 online. About 2012 the online fee dropped to £4. When Wise came along I crossed checked every transfer I made against Wise for over 6 months and found little difference so just stuck with HSBC, although they have now pushed the fee up to £5.

I usually do the transfer in the afternoon here and funds in account by mid day following day.

[sandyf]

  On 12/14/2024 at 4:11 AM, Moonlover said:

 

Branches yes, but not the HQ and admin centres, where all the transactions are handled.

 

I have a couple of monthly direct debits and they are never paid out at weekends. The same would be true for incoming transactions.

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If the payment is processed via Bahtnet, it can only be done when Bahtnet is online, think the time is 08.30 till 5.30pm Mon - Fri.

 

BAHTNET (Bank of Thailand Automated High-value Transfer Network) is a financial infrastructure serving for Real-Time Gross Settlement (RTGS) of large value funds transfer between financial institutions or other organizations maintaining deposit accounts at the Bank of Thailand (BOT)

 

https://www.bot.or.th/th/our-roles/payment-systems/Payment-systems.html

[JAS21]

That delay is absolutely disgraceful … don’t use them again … that will teach them ….

[billd766]

  On 12/14/2024 at 6:57 AM, KannikaP said:

The 'dedicated' Bangkok Banks on the street are CLOSED on Saturdays & Sundays, well, here in Phitsanulok. 

The only 'Mall' branch is now the one at Central as they closed the Big C one. I don't know if that is open at weekends.

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The BKK bank at BigC in Kamphaeng Phet was closed down a couple of years ago.

[KannikaP]

  On 12/14/2024 at 8:28 AM, JAS21 said:

That delay is absolutely disgraceful … don’t use them again … that will teach them ….

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Do you REALLY think that will bother Mr WISE? 555

[jacob29]

  On 12/13/2024 at 8:57 AM, 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.

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The word 'chose' may not necessarily apply. If their Thailand account doesn't have sufficient reserves, they don't have a wizard that can conjure up THB to transfer instantly. They have to predict requirements in advance, sometimes they get it wrong. Yes, they could hold more than they would reasonably need in Thailand banks (as in borrow funds, and get paid near 0% on those funds in Thailand), but then service fees go up.

 

Strongly suggest you find a new provider if this is a problem, and you need reliability over low fees.

 

What wise should do better, is let you know in advance how long it's going to take, so you can decide accordingly.

[billd766]

  On 12/14/2024 at 7:24 AM, fondue zoo said:

If it's urgent use Remitly, slightly more expensive, but delivers every time, any day, within an hour.

I like Wise but they blame the bank and then Remitly sends the same amount almost immediately 5 minutes later.

 

 

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Does it automatically show up in the bankbook and on the bank statement as an international transfer?

[Dan O]

  On 12/14/2024 at 4:47 AM, prakhonchai nick said:

A Swift transfer to a Thai bank, will be exchanged into Thai baht at the banks rate at time of arrival (1,2,3 days later)  It may be higher than on the day sent, it may be lower. With a WISE transfer, one knows exactly what the exchange rate will be.

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With swift you can choose when the currency to transfer, at least in every bank I use. The difference is insignificant if it is a delayed  transfer by even 2 or 3 days. You are better off converting the transfer at the destination bank as the origin banks change a conversion fee which is much higher. 

[hotandsticky]

You are better off taking WISE's rates................better than local Thai banks and - yes - most definitely better than onshore bank rates.

[Kinok Farang]

  On 12/13/2024 at 8:07 AM, DrJack54 said:

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 

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So you never even saw your money?

That's way way worse than waiting a couple of days for Wise.

[Freddy42OZ]

  On 12/13/2024 at 7:52 AM, kalasiner said:

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.

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A few weeks back I was transferring some money on a Saturday afternoon (15:39), WISE said it would be in my account in 4 days. 

I received an email 2 days later on Monday at 09:44 telling me the transfer was done and sure enough the funds were already in my Kbank account. 

• 23 November at 15:39

  You set up your transfer

•  
  23 November at 15:39

  You used THB in your Wise account

•  
  25 November at 09:44

  We paid out your THB

• 25 November at 09:44

  Transfer successfully sent to your bank

  Keep in mind — It can take up to 2 working days for your bank to credit the account.

It obviously didn't take Kbank 2 days to credit my account.


I'm not sure why people are making such a fuss, whilst its nice to get instant transfers, how often do you need money that quick and have Wise as your only option.  Don't people keep cash in multiple accounts with different access limitations?  

[Andycoops]

  On 12/13/2024 at 8:12 AM, 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

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I just received one this morning at 7.15am

However there is a message on Wise stating that any transfers over 50,000 baht will be delayed this weekend because of a upgrade.

[OJAS]

  On 12/14/2024 at 7:07 AM, Liverpool Lou said:

What's a "dedicated" branch, they're all the same.   The branches on the street are closed in Bangkok also, but the mall branches aren't and each one provides full banking services for those who need weekend service.

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Disagree with the statement that Bangkok Bank mall branches provide full banking services. Their branch in my local Big C mall flatly refused to issue me with a new passbook a few years ago, and told me to obtain one from the main branch where I had opened my account.

[Liverpool Lou]

  On 12/15/2024 at 6:32 AM, OJAS said:

 

Disagree with the statement that Bangkok Bank mall branches provide full banking services. Their branch in my local Big C mall flatly refused to issue me with a new passbook a few years ago, and told me to obtain one from the main branch where I had opened my account.

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"...Bangkok Bank branch in my local Big C mall flatly refused to issue me with a new passbook a few years ago..."

That may have been the case a few years ago but these days any BBL branch will issue a new passbook in normal circumstances.

 

[Chivas]

  On 12/13/2024 at 8:03 AM, Lacessit said:

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

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lol banks in Thailand operate 24/7 as regards online payments/transfers as they do in all 1st world countries

 

I have used Wise every single day on a 7 day week plus bank holidays and makes absolutely no difference

 

Since I've beem monitoring it 24 of the last 25 transfers landed in 4-5 seconds or less and the odd one was 2 hours

 

For reference I use simple bank transfer method to Wise...No debit cards no credit cards no monies sitting on Wise account

 

Royal Bank of Scotland to Wise to SCB

 

On the wise app (or desktop) I never even get the chance to click on their icon "I've sent my monies" because SCB pings with monies landing before I even get a chance to

[Chivas]

  On 12/13/2024 at 8:30 AM, 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

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Ignore the fee its all about what lands in your account

Bear in mind Wise use full interbank rate whereas as an example if you used a British bank like HSBC which used to be £4 the monies land in your Thai account at Telegraphic Transfer landing rates much less than interbank plus a landing fee

 

No landing fee with Wise either

 

Wise via app or desktop show you the competitors landing amounts....occasionally Wise are not top but invariably its very small difference

[hotandsticky]

  On 12/16/2024 at 3:12 AM, Chivas said:

 

Ignore the fee its all about what lands in your account

Bear in mind Wise use full interbank rate whereas as an example if you used a British bank like HSBC which used to be £4 the monies land in your Thai account at Telegraphic Transfer landing rates much less than interbank plus a landing fee

 

No landing fee with Wise either

 

Wise via app or desktop show you the competitors landing amounts....occasionally Wise are not top but invariably its very small difference

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+1

[RubbaJohnny]

Like others I receive into Kasikorn in seconds , sent $2600 las t week for the holidays arrived 10 seconds later, when I used to use Bangkok Bank always said 1413 next WORKING DAY, so if sent Friday morning would arrive 1413 Monday or later with the many holidays at both ends. I recommend Kasikorn to the OP if convenient . Fees , charges seem pretty similar, my choice was based on ease of parking !

 

Kasikorn suits me for day to day , I use SCB for visa as near immigration Office for extension letters.

[billd766]

  On 12/16/2024 at 3:04 AM, Chivas said:

 

lol banks in Thailand operate 24/7 as regards online payments/transfers as they do in all 1st world countries

 

I have used Wise every single day on a 7 day week plus bank holidays and makes absolutely no difference

 

Since I've beem monitoring it 24 of the last 25 transfers landed in 4-5 seconds or less and the odd one was 2 hours

 

For reference I use simple bank transfer method to Wise...No debit cards no credit cards no monies sitting on Wise account

 

Royal Bank of Scotland to Wise to SCB

 

On the wise app (or desktop) I never even get the chance to click on their icon "I've sent my monies" because SCB pings with monies landing before I even get a chance to

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Does the SCB show up as an international transfer in the bankbook and on the bank statement?

 

I know it does at the BBK Bank, but not at KBank.

 

SCB I have no idea.

[KannikaP]

  On 12/14/2024 at 7:16 AM, IvorBiggun2 said:

Processing: Wise works with banks, so transfers can only be sent when banks are open. 

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Are you saying no WISE transfers before 10.00 or after 16.00?

[IvorBiggun2]

  On 12/16/2024 at 6:39 AM, KannikaP said:

Are you saying no WISE transfers before 10.00 or after 16.00?

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I'm saying exactly what it says in my post. And that's exactly what occurs when I transfer money.☺️