Slow Wise transfers

[ikke1959]

Today I tranferred money by Wise to my account here in Thailand using Wise. I do this for many years already, but I noticed that the last months the money transfers are being with held by Wise.

When you check the rates they mention that the money will arrive in 4 minutes, but when the transfer is made it suddenly change to Wednesday, tomorrow. On  Friday 30 May I transferred money to my account and it could not be paid out for Wednesday 4 June too. The reason was that the banks were closed. Today again I contacted Wise and they told me they need time to process the transfer, but that is rubbish of course, as everything is being digitalized. I know that banks are checking more for money transfers, but Wise don't send the money to bank, they do it tomorrow. I am sure they will hold the money to make extra money out of it, no problem for me but be clear on your website and don't promise it will arrive in 4 minutes. A few months back never had a problem, until these last 3/4 months. Remitly is much quicker although a bit more expensive, but I am going to use Remitly until Wise is not withholding the money anymore. I hope those who have the same problem maybe have other options too, and let Wise feel that we don't accept their policy

[KhunBENQ]

Many threads/posts about problems.

I still don't get the pattern and have no problems since years.

But I also not expected seconds/minutes transfer but next working day 

[Captain Flack]

I have moved this topic into the banking section

[scubascuba3]

Op doesn't even mention Thai bank or amount, what a useless post.

 

I made a Kasikorn transfer yesterday 90k baht, settled in a couple minutes

[Bill97]

11 minutes ago, scubascuba3 said:

Op doesn't even mention Thai bank or amount, what a useless post.

 

I made a Kasikorn transfer yesterday 90k baht, settled in a couple minutes

Well yes and the source of the money sent and currency impact the transfer time too.

 

This Wise game is really getting old.

[ikke1959]

52 minutes ago, scubascuba3 said:

Op doesn't even mention Thai bank or amount, what a useless post.

 

I made a Kasikorn transfer yesterday 90k baht, settled in a couple minutes

I transferred to Bangkokbank 1000 euro is 37k.. nothing special

[CharlieH]

I use UK to Thai, kasikorn, every 4 weeks, last one w days ago, was under minute, often 30 seconds from hitting "send" 

[scubascuba3]

20 minutes ago, ikke1959 said:

I transferred to Bangkokbank 1000 euro is 37k.. nothing special

Bangkok Bank transfers usually settle 2pm next working day

[Upnotover]

3 hours ago, ikke1959 said:

but Wise don't send the money to bank, they do it tomorrow

Wise don't actually "send" your money anywhere.  They pay you from their Thai accounts and handle the conversion internally.  Nevertheless they are less instant than previously but it is very much dependent on the origin of the funds and the receiving bank.

[TPEN]

I use Australian bank > Bangkok bank via wise. Transfers have been instant for years but the last month or two they have been coming in the next day. Amounts aren't overly large, usually 20-35k.

[ikke1959]

47 minutes ago, Upnotover said:

Wise don't actually "send" your money anywhere.  They pay you from their Thai accounts and handle the conversion internally.  Nevertheless they are less instant than previously but it is very much dependent on the origin of the funds and the receiving bank.

It is for the 6 or 7 years I use Wise always the same bank, the account nothing changed.... Wise changed

[NorthernRyland]

They target certain banks. I have a credit union bank in the US and they said it was associated with micro transactions and after sending money takes 3-5 days. Very annoying but there's nothing I can do as far as I can see.

[Chalong circle]

Yesterday two minutes for transfer to SCB. Three weeks ago seven hours.

[norsurin]

My last transfer to kasikorn took only 6 seconds.I transferred directly from my ATM card.

[Magictoad]

6 hours ago, ikke1959 said:

Today I tranferred money by Wise to my account here in Thailand using Wise. I do this for many years already, but I noticed that the last months the money transfers are being with held by Wise.

When you check the rates they mention that the money will arrive in 4 minutes, but when the transfer is made it suddenly change to Wednesday, tomorrow. On  Friday 30 May I transferred money to my account and it could not be paid out for Wednesday 4 June too. The reason was that the banks were closed. Today again I contacted Wise and they told me they need time to process the transfer, but that is rubbish of course, as everything is being digitalized. I know that banks are checking more for money transfers, but Wise don't send the money to bank, they do it tomorrow. I am sure they will hold the money to make extra money out of it, no problem for me but be clear on your website and don't promise it will arrive in 4 minutes. A few months back never had a problem, until these last 3/4 months. Remitly is much quicker although a bit more expensive, but I am going to use Remitly until Wise is not withholding the money anymore. I hope those who have the same problem maybe have other options too, and let Wise feel that we don't accept their policy

Ive always just accepted that it takes a few days. Simple as that. 3 or 4 days for the last few years. That's to the Krungsri  bank. Recently it got a bit faster to the Bangkok Bank. I wonder if there is another variable? I always say when asked the reason for the money? I tell them long term stay in Thailand...

[Magictoad]

4 hours ago, CharlieH said:

I use UK to Thai, kasikorn, every 4 weeks, last one w days ago, was under minute, often 30 seconds from hitting "send" 

I have NEVER had a transfer that fast. For the last few years I usually wait a few days. 3 if im lucky. Often 4.. sometimes 5 days but that's using the yellow bank . When I uze6 Bangkok bank it's much faster- two days max. Krungsri bank is always slow. I always say when asked the reason for needing the money - I answer funds for long term stay in Thailand. 

[soi3eddie]

The end of May and early June holidays saw Thai banks closed. It seems that after recent issues with scammers, Bangkok Bank are manually checking incoming transfers from Wise (and maybe others). On Saturday 31st May I made a request for transfer from Wise to my GF's Bangkok bank account and it also said it would arrive on Wednesday 4th June. I cancelled that and sent it to my own Kasikornbank account. It took seconds. I then sent it from my Kasikornbank account to my GF's Bangkok bank account and that took seconds. She was happy 🙂 

 

[treetops]

2 hours ago, ikke1959 said:

It is for the 6 or 7 years I use Wise always the same bank, the account nothing changed.... Wise changed

 

It's been well documented that Wise recently changed and transfers to Bangkok Bank now all appear as International Transfers and will arrive shortly after 2:00pm on a working day.  This will be the same working day if initiated early enough (I think before something like 09:30 or 10:00) or the next day if after that.

 

[ikke1959]

8 minutes ago, treetops said:

 

It's been well documented that Wise recently changed and transfers to Bangkok Bank now all appear as International Transfers and will arrive shortly after 2:00pm on a working day.  This will be the same working day if initiated early enough (I think before something like 09:30 or 10:00) or the next day if after that.

 

If it is only Bangkokbank that cause the delay I will send it to my partner account at Kasikornbank next time and see how that will go.. 

[billd766]

7 hours ago, KhunBENQ said:

Many threads/posts about problems.

I still don't get the pattern and have no problems since years.

But I also not expected seconds/minutes transfer but next working day 

I make 37 transfers a year from my Wise borderless account to my BBK account and in 6 years it only went wrong once. I called Wise, and they tagged my account and I have had no problems since 2018.

 

I know how long the transfer takes (the next bank working day) and I do NOT expect a response in seconds , and if there is a delay it is only 2 or 3 minutes.

 

Forward planning is easy, simple and painless.

 

When I confirm the transfer I know how much it will cost, how much I will get in thb, the forex rate and that rate will be frozen until the transaction has been completed.

[treetops]

1 hour ago, ikke1959 said:

If it is only Bangkokbank that cause the delay I will send it to my partner account at Kasikornbank next time and see how that will go.. 

 

You still haven't mentioned how your transactions are funded and the reason selected for transfer, both of which could affect the timing, but if these are OK then I would expect an almost instantaneous deposit to Kasikorn.