Another Wise problem - Please forgive me!

[Furioso]

I apologize in advance if this has been brought up before. However, today I tried to use Wise and right before I press the last button it says I need to approve "Plaid" to reconnect my bank account. This is the first time this has come up and I've been using Wise every month for 2 years. I did a quick google search and if I approve Plaid it allows them to extract information from my account. 

Anyway, just curious as to what your experience has been. 

Did this happen to you?

Does this keep you from using Wise anymore? 

[scubascuba3]

Are you talking about from US? from the UK they can automatically take the money out of my banks account, i decline that and do it manually, maybe you can do the same with Plaid

[Yagoda]

2 hours ago, Furioso said:

I apologize in advance if this has been brought up before. However, today I tried to use Wise and right before I press the last button it says I need to approve "Plaid" to reconnect my bank account. This is the first time this has come up and I've been using Wise every month for 2 years. I did a quick google search and if I approve Plaid it allows them to extract information from my account. 

Anyway, just curious as to what your experience has been. 

Did this happen to you?

Does this keep you from using Wise anymore? 

I gave up on that Plaid stuff, I just use my debit card now

[Furioso]

17 minutes ago, scubascuba3 said:

Are you talking about from US? from the UK they can automatically take the money out of my banks account, i decline that and do it manually, maybe you can do the same with Plaid

Yes I'm trying to send money from my U.S. bank to Bangkok Bank. I try to bypass the Plaid option but there's no way around it. I did a little more digging and you can register an account on plaid.com to see what information they're getting from you..with the option to shut any account plaid is accessing. I don't know if I'm going to use Wise anymore or not, this is just too intrusive. 

 

 

[Furioso]

15 minutes ago, Yagoda said:

I gave up on that Plaid stuff, I just use my debit card now

I think I'm going to do the same, there isn't really much price difference between Wise and Debit Card anymore. 

[Gobbler]

3 hours ago, Furioso said:

Did this happen to you?

Does this keep you from using Wise anymore? 

 

Yes and I still use Wise. 

[Gobbler]

3 minutes ago, Furioso said:

I think I'm going to do the same, there isn't really much price difference between Wise and Debit Card anymore. 

 

Yes there is. 

[Yagoda]

4 minutes ago, Furioso said:

I think I'm going to do the same, there isn't really much price difference between Wise and Debit Card anymore. 

No I use my debit card to transfer via Wise

[Furioso]

12 minutes ago, Gobbler said:

 

Yes there is. 

I checked, you're right to get $500 from the U.S. it costs:

1. Approx 15 USD via Debit Card.

2. Approx 6 USD via Wise. 

[Gobbler]

I am happy to use WISE.  Don't send on the weekend.  Swift doesn't work for them on the weekend, and during the week the transfer is usually less than 1 minute.

 

[OJAS]

1 hour ago, Furioso said:

Yes I'm trying to send money from my U.S. bank to Bangkok Bank. I try to bypass the Plaid option but there's no way around it. I did a little more digging and you can register an account on plaid.com to see what information they're getting from you..with the option to shut any account plaid is accessing. I don't know if I'm going to use Wise anymore or not, this is just too intrusive. 

 

 

Wonder whether this might have more to do with a new so-called "security" measure dreamt up by the US banking sector for funding Wise transfers than with Wise themselves?

 

[KannikaP]

1 hour ago, Yagoda said:

No I use my debit card to transfer via Wise

What you are saying is that you transfer money from your Debit, or Credit, Card to your Wise USD, or in my case GBP account.

Then send that to your Thai account. Yes?

Do you convert it to THB before you send it? Then it is a THB to THB transfer.

[Yagoda]

35 minutes ago, KannikaP said:

What you are saying is that you transfer money from your Debit, or Credit, Card to your Wise USD, or in my case GBP account.

Then send that to your Thai account. Yes?

Do you convert it to THB before you send it? Then it is a THB to THB transfer.

Wise converts it

[scottiejohn]

12 hours ago, KannikaP said:

What you are saying is that you transfer money from your Debit, or Credit, Card to your Wise USD, or in my case GBP account.

Then send that to your Thai account. Yes?

Do you convert it to THB before you send it? Then it is a THB to THB transfer.

On the app enter the amount in sterling, enter payment method-in this case your debit card,  it will show the rate and the amount in Baht you will receive, then select reason for tx as monthly living expenses.  press send and your money will normally arrive in a BKK account in seconds if done  on UK and Thai banking days!

 

PS; do NOT use your credit card as it will most likely be treated as a cash transaction and incur interest charges from that moment until paid!!

[BKKKevin]

https://wise.com/us/blog/is-plaid-safe

[KannikaP]

Just to show my latest transfer. GBP to THB at 8am, cost 4.69. THB to THB cost Bht 44.76

[KannikaP]

14 minutes ago, scottiejohn said:

then select reason for tx as monthly living expenses.  press send and your money will normally arrive in a BKK account in seconds if done  on UK and Thai banking days

In the past for me, it has ALWYS taken until 14.03 the following day if Long Stay is selected. Today it seems to arriving today.

[scottiejohn]

12 minutes ago, KannikaP said:

In the past for me, it has ALWYS taken until 14.03 the following day if Long Stay is selected. Today it seems to arriving today.

Which Thai Bank is it going to?  i.e. Is it one of the Wise partner banks?

I use BKK and only once in many years has it taken over 2 minutes if sending less than £50,000!

[KannikaP]

59 minutes ago, scottiejohn said:

Which Thai Bank is it going to?  i.e. Is it one of the Wise partner banks?

I use BKK and only once in many years has it taken over 2 minutes if sending less than £50,000!

As I, and many others have previously said, if you select Long Stay or For Property buying, it usually takes one day extra as a human being, (or a Thai! ) must intervene and check whatever needs checking. Otherwise Mr Computer is in charge and the transfer is almost instant if it is under Bht 50,000. My transfers go to Bkk Bank and it always arrives as an International Transfer, FTT.

[Furioso]

2 hours ago, KannikaP said:

Just to show my latest transfer. GBP to THB at 8am, cost 4.69. THB to THB cost Bht 44.76

How much would it cost to send 500 GBP? 

[Upnotover]

8 minutes ago, Furioso said:

How much would it cost to send 500 GBP? 

It depends how you fund the transfer - just go to their website, you can input the information and it will tell all.

[Furioso]

5 minutes ago, Upnotover said:

It depends how you fund the transfer - just go to their website, you can input the information and it will tell all.

Okay, I checked and here's what it would cost me to send 500 GBP via Wise.

1. Debit Card: 7.38 GBP fee. Maybe another fee idk. 

2. Bank Account: 4.12 GBP fee. This would give Plaid access to bank account info. 

[Colabamumbai]

21 hours ago, Furioso said:

I apologize in advance if this has been brought up before. However, today I tried to use Wise and right before I press the last button it says I need to approve "Plaid" to reconnect my bank account. This is the first time this has come up and I've been using Wise every month for 2 years. I did a quick google search and if I approve Plaid it allows them to extract information from my account. 

Anyway, just curious as to what your experience has been. 

Did this happen to you?

Does this keep you from using Wise anymore? 

It's happening. To connect to your bank. Discerning, suspicious. But it works. 

[Upnotover]

4 minutes ago, Furioso said:

Okay, I checked and here's what it would cost me to send 500 GBP via Wise.

1. Debit Card: 7.38 GBP fee. Maybe another fee idk. 

2. Bank Account: 4.12 GBP fee. This would give Plaid access to bank account info. 

Fees are one thing but the most important is how many THB you get.  This is normally where Wise wins even with an apparently higher fee as their conversion rate is normally significantly better than other providers.

[OJAS]

3 hours ago, KannikaP said:

In the past for me, it has ALWYS taken until 14.03 the following day if Long Stay is selected. Today it seems to arriving today.

 

Wonder whether this might have something to do with the 8am time for initiating the transfer in question. Is this earlier than usual in your case?

 

[gargamon]

Whatever you do, don't use XE. I just sent a couple of thousand dollars from Canada through them because they gave me a special rate, about 200 baht better than wise. It was supposed to take minutes. I sent them the money, they received it in about 20 minutes. Now they want me to verify my id, phone number, how frequently I want to transfer, how much per year, etc before they will complete the transfer. They should have done that before they accepted my money. I transferred a similar amount with wise and it was there overnight.

 

I told XE to cancel the transaction and put the money back in my account. We'll see how that goes. 

[KannikaP]

2 hours ago, Furioso said:

How much would it cost to send 500 GBP? 

GBP 3.92 if GBP is already in your account. Bank Transfers and SWIFT are free.

GBP 3.30 using Debit Card to add to your account, plus the transfer fee.

GBP 11.40 using Credit Card, plus the transfer fee.

 

 

[KannikaP]

2 hours ago, OJAS said:

 

Wonder whether this might have something to do with the 8am time for initiating the transfer in question. Is this earlier than usual in your case?

 

No, actually it is later, usually do around 6am THai time. But of course 8am here is only 1am in UK.

I must reprimand WISE as it said 14.13, and it has arrived at 14.01 !  555

[sandyf]

2 hours ago, Upnotover said:

Fees are one thing but the most important is how many THB you get.  This is normally where Wise wins even with an apparently higher fee as their conversion rate is normally significantly better than other providers.

It varies significantly among other providers.

On Friday afternoon I transferred £1500 from HSBC which incurred a £5 fee. About 10am yesterday morning i received 63,480 baht into my account.

 

[Jaggg88]

19 hours ago, KannikaP said:

What you are saying is that you transfer money from your Debit, or Credit, Card to your Wise USD, or in my case GBP account.

Then send that to your Thai account. Yes?

Do you convert it to THB before you send it? Then it is a THB to THB transfer.

You can fund your Wise transfer by using a debit card straight to your Thai bank or you can fund the transfer directly from your home bank account. The fees for transferring directly from your bank account are less than using your debit card.