WISE transfers taking a minimum of 2 days now?!

[JRG23]

On 1/26/2025 at 1:15 PM, Ohyesuare said:

Instant as long as I don't send over $1000 USD. 

Not true. I regularly transfer amounts of about GBP2,300 to Thai bank account. Takes a couple of mins

[rasalvaje]

3 hours ago, rasalvaje said:

WHO , besides WISE,  do you recommend.?

 

[Ohyesuare]

55 minutes ago, JRG23 said:

Not true. I regularly transfer amounts of about GBP2,300 to Thai bank account. Takes a couple of mins

 

I guess you are sending to a Kasikorn bank account. For me and other users who have commented here, anything over $1000 to Bangkok Bangkok, takes 24-48 hours.

[Will B Good]

1 minute ago, Ohyesuare said:

 

I guess you are sending to a Kasikorn bank account. For me and other users who have commented here, anything over $1000 to Bangkok Bangkok, takes 24-48 hours.

£1000 this am.....UK to BKK Bank.....10 sec......BUT.......... I have had four days before.

[OneManShow]

Always next day, $1000, 2000 or 3000 and week ends till Monday. BKKB

only once was instant in my 7y transfer history. 

[Stocky]

From Singapore transfers of 3 to 5K SGD take seconds, very rarely do I get a "sorry transfer is taking longer than usual" message.

[Johno57]

What are the chances of sending 2x      1 million baht  through torfx for condo purchase to kaslkorn & the tax implications if sent as a gift..do you mention condo purchase or gift...tax???

[Acharn]

I send $2,400 every month to Bangkok Bank. I make the transfer in the morning and they credit my account at 2:00 PM. That's because I'm using "long term stay in Thailand" for my reason, and BKK bank only processes the transfers at 2:00 every weekday afternoon. When I send smaller amounts it's always a few seconds. I've never sent as much as $1,000 between beginnings of the month.

 

I suggest he check his Wise account for messages/notifications. I suffered delays of two or three days when they changed their app to access my account and I had to re-register the account.

[Suitcase]

On 1/26/2025 at 1:12 PM, sleepy99 said:

A friend of mine, who regularly uses WISE to transfer money from Europe to his Thai Bangkok Bank account, recently noticed that transfers around 2000 - 3000 Euros, no longer happen instantly. Previously, it only took seconds, but in the last two transactions, the money took 2-3 days to arrive. There were no emails requesting additional documents or explanations—just a longer wait time.

 

Has anyone else experienced this delay when using WISE in January? Or is it still quick for you?

Last summer it was taking 6 days from the United States to Bangkok Bank

Just a week ago I was going to transfer money And it said it would take Six days Again

So I canceled the order

Don't know what their problem is because it used to take only seconds to transfer money

[crazykopite]

Regardless what I send it’s normally in my K bank within minutes unless I send it over the weekend which has taken much longer what day did your friend do their transfer  !

[treetops]

In my experience, anything over 50,000 THB takes longer and this is reflected in Wise' calculator.  It has been this way for some time now.

 

How the transaction is funded also affects the process.  Wise website shows the following.  First image is for a transfer of 49,999 THB and second for 50,000 THB or approx 1,424 Euro currently.  From some of the comments on here I suspect they are using funds already in Wise and not the full process of home bank to Wise to Thai bank.

 

 

 

 

[Stiddle Mump]

On 1/26/2025 at 3:29 PM, sleepy99 said:

Seems like it could also be just Bangkok Bank? Maybe Kasikorn is still instant. Need to try unfortunately he doesn’t have Kasikorn at the moment.

The money doesn't get transferred. Not in the true sense. The Wise system is based on peer to peer. Someone else's dosh goes into your account. Of course when it's there it's yours. And your original money could be in someone else's account, or being held until everything balances out. Maybe never leaving the country it was 'sent' from.

 

All depends on activity in the system. Wise doesn't do (say) Thailand to UK, so what stops the money piling up in Thailand? It is digits going round different countries in circles. 

 

It is not money moving about as such. It is digital IOUs circulating in the worldwide internet/computing system.

[sometimewoodworker]

Just a FYI 

 £5,000 from RBS to SCB  January 20, 2025 21:04:00 ICT

Time taken less than 60 seconds from authorising at RBS.

[Everyman]

I think it varies because banks have different policies about debits to the accounts. Some of mine are instant, others take a week.

[TheLaughingMan]

Yes in the past few months Wise has slowed down and if I want it instant it costs me more, use to be direct deposit instant which was the cheapest option, now that can take up to a week, so I choose the e transfer option which is the cheapest and instant but has a limit on how much.  I transfer to Bangkok Bank.  Overall Im disappointed and upset that Wise has changed their practices and give them a 1 star review every time they ask me in the app.

[Andycoops]

If you tick the long term stay option then they apply the foreign transfer code and this makes the process longer.

( For people doing extensions using monthly income the IB like the FTT code on your bank statement)

 

Typically if I transfer at 7am to Wise the money arrives in my Bangkok bank account at 2pm the same day.

 

If I tick the personal expenses option it's instant.

[MangoKorat]

11 hours ago, Will B Good said:

No word of a lie.....Wise...UK to Thailand BKK Bank.....10 seconds...!!!!! Just now.

That's normal - the OP is asking about large amounts - how much did you send?

[Aussie999]

I have had 2 transactions, under $500, from Australia, to Bank of Thailand take 22, and 23, hours, Wise could not explain why, I did find out that Wise's Thai agent is Kasikorn, who then transfer on, so maybe Kasikorn is the culprit.

[Stiddle Mump]

2 hours ago, Aussie999 said:

I have had 2 transactions, under $500, from Australia, to Bank of Thailand take 22, and 23, hours, Wise could not explain why, I did find out that Wise's Thai agent is Kasikorn, who then transfer on, so maybe Kasikorn is the culprit.

It's peer to peer.

 

Probably not enough activity in the system. Can't hold much money in non peer to peer deposits, as it would ll be subject to exchange rate variation.

 

 

[gamb00ler]

13 hours ago, Stiddle Mump said:

It's peer to peer.

 

Probably not enough activity in the system. Can't hold much money in non peer to peer deposits, as it would ll be subject to exchange rate variation.

In the case of transfers to Thailand, WISE cannot solely use the PTP method.  WISE doesn't offer the ability to transfer from Thai ฿ to any other currency.  Therefor they don't have a source for incoming Thai ฿.  WISE may use PTP for exchanges to Thai ฿, but that will probably be only in the short term.  I would think they have a float of Thai ฿ available that allows them to offer speedy exchanges/transfers.  The balance in the Thai ฿ float would have to be replenished frequently by buying ฿ through a non PTP currency exchange method.

[Stocky]

19 hours ago, gamb00ler said:

In the case of transfers to Thailand, WISE cannot solely use the PTP method.  WISE doesn't offer the ability to transfer from Thai ฿ to any other currency.  Therefor they don't have a source for incoming Thai ฿.  WISE may use PTP for exchanges to Thai ฿, but that will probably be only in the short term.  I would think they have a float of Thai ฿ available that allows them to offer speedy exchanges/transfers.  The balance in the Thai ฿ float would have to be replenished frequently by buying ฿ through a non PTP currency exchange method.

They use Thai partners like Kasikorn and Dee Money, who pay out THB on Wise's behalf, Wise reciprocate for the partner bank in the foreign currency.

[Stocky]

On 1/27/2025 at 8:59 PM, treetops said:

From some of the comments on here I suspect they are using funds already in Wise and not the full process of home bank to Wise to Thai bank.

Not in my case, I arrange the transfer in Wise, send them the required SGD from my HSBC Singapore account to their account in Singapore using PayNow, transfer is free and instantaneous. On receipt Wise pay to my Thai bank account, usually within seconds.

 

.

[gamb00ler]

2 hours ago, Stocky said:

They use Thai partners like Kasikorn and Dee Money, who pay out THB on Wise's behalf, Wise reciprocate for the partner bank in the foreign currency.

The peer to peer (PTP) method eliminates the middleman and is a very efficient way to change currencies.  What you outline is not a PTP transaction.  My comment was that WISE doesn't use PTP for Thai currency transactions so I agree that WISE uses a third party to provide Thai ฿.

[happydreamer]

Just curious if anyone is still noticing this is an issue this month.  Just did a 1500 Baht transfer from my US bank to Thai bank and its telling me its going to pay out within the next 24 hours.  What is going on with these guys.  This was never like this before.

[treetops]

4 hours ago, happydreamer said:

Just curious if anyone is still noticing this is an issue this month.  Just did a 1500 Baht transfer from my US bank to Thai bank and its telling me its going to pay out within the next 24 hours.  What is going on with these guys.  This was never like this before.

 

There's been significant changes in the past couple of weeks discussed in some other threads.  What bank are you sending to in Thailand?

[happydreamer]

4 hours ago, treetops said:

 

There's been significant changes in the past couple of weeks discussed in some other threads.  What bank are you sending to in Thailand?

Bangkok Bank.  Are the changes temporary or is this going forward?

 

[treetops]

Just now, happydreamer said:

Bangkok Bank.  Are the changes temporary or is this going forward?

 

Nobody knows for sure but I expect permanent.

 

Bangkok Bank transfers appear to all get made just after 2:00pm on the day after Wise is funded.  Same day if you're early enough in the morning.  They also appear to all be coded as International Transfers.

 

I'm not familiar with USA banks but there also appears to be issues in getting money from your banks to Wise, but these aren't new.

[happydreamer]

43 minutes ago, treetops said:

 

Nobody knows for sure but I expect permanent.

 

Bangkok Bank transfers appear to all get made just after 2:00pm on the day after Wise is funded.  Same day if you're early enough in the morning.  They also appear to all be coded as International Transfers.

 

I'm not familiar with USA banks but there also appears to be issues in getting money from your banks to Wise, but these aren't new.

 

Thanks for the info.  I wonder if Wise is rolling out a different funding methods that might include fees.  I opened a support  query with them and they told me that 0-4 days is the normal period of time for transfers and if I wanted them faster I should select a different method.  But they didn't happen to mention which method, so I'm still here wondering WTH's going on.

 

Anyhow...thanks for your kind replies

 

[mangkut70]

It’s been very interesting to read about these experiences with Wise here. Thanks for the extra info!

I primarily use Wise during trips, and the Wise card has worked like a charm so far – I linked it to Apple Pay and apps like Grab or booking platforms. Super useful!

When I occasionally transfer money from the Wise balance to my Bangkok Bank account, it’s over 50k thb, and the transfer has always taken one to two days. 

Good to know that sending less than 50k and avoiding the “for long-term stay” option might be faster. I’ll give it a try. 

By the way, it seems impossible to send more than 50k from Wise to a Thai account other than my own.

 

[treetops]

Just now, mangkut70 said:

Good to know that sending less than 50k and avoiding the “for long-term stay” option might be faster. I’ll give it a try.

 

Not any more.  See my replies to happydreamer in the posts above yours.