WISE transfer delays
- Thread starter merlin
- Start date
CO-CO
Rather wrinkly & occasionally cantankerous member
This from WISE...... https://wise.com/gb/compare/moneygram-gbp-to-thb
Compare Moneygram GBP to THB exchange rate
| Provider | Should arrive | Exchange rate(1 GBP → THB) |
|---|---|---|
| within 3 hours | 43.5365 | |
| in seconds | 43.5670 | |
| We're always honest with our customers. And honestly, we're not the cheapest this time. So while there are cheaper options, they might not be the fairest or the fastest. |
Rice
Resident Smart Arse
It did look wrong all along. But they were the figures I got from being logged in to Moneygram they were different from what wise admits they are a guesstamation as Moneygram does not allow their rates on the open web to be probed. That is why I said have I missed something. Anyway. Just check it out.
I doubt the figure I got is right but I also don't trust Wise guesstamation algorithm. They admit it freely though.
CO-CO
Rather wrinkly & occasionally cantankerous member
I applaud the effort to introduce a different option. Things change frequently and (certainly where newcomers are concerned) there can be pricing opportunities.
I guess I am getting old and I am not a money-whore................for a peaceful existence I am more and more taking the view "if it ain't broke don't fix it". WISE works fine for me......although @merlin may wish to take a closer looks.
merlin
You chose a custom title
Here's a service update on my recent WISE transfer experience:
At 10.48 today, I set up a transfer to my BKB Bank. WISE stated that the money would be in mty BKB account in 7 minutes. I checked the WISE update screen just after 11.00 am, and it had changed to say that the money would be in my account at 11.30 am. A few minutes after 11.30 UI hecked again. The update then said the transfer would be in my account at 12.10pm today.
Watch out for the next exciting installment.
As a young salesman in the 1960s, I was taught always to underpromise and overdeliver. It kept customers happy as they were never disappointed.
At 10.48 today, I set up a transfer to my BKB Bank. WISE stated that the money would be in mty BKB account in 7 minutes. I checked the WISE update screen just after 11.00 am, and it had changed to say that the money would be in my account at 11.30 am. A few minutes after 11.30 UI hecked again. The update then said the transfer would be in my account at 12.10pm today.
Watch out for the next exciting installment.
As a young salesman in the 1960s, I was taught always to underpromise and overdeliver. It kept customers happy as they were never disappointed.
merlin
You chose a custom title
Ahhh! Another message from WISE has arrived:
Just a minute later than the third promised transfer time today, but note that instead of it being in my bank account and usable, they have changed that to warn that it could take another two days for the bank to credit my account.
As I type this, I have another message - this time from my bank - to say that it is was credited to my account at 12.14 pm.
Now that is a pretty quick transfer service - certainly more so than in each of the last three months which took up to 4 days to reach my account - and I'd struggle to find another provider who would beat the combination of exchange rate, charges, and speed provided by WISE. While that's a fair way of judging them, my grouse remains that if they promise a transfer serice level for a particular transaction, they should stick to it - or it's about as much use as waiting for a train to arrive at your station long after it has already left for the next stop, or doesn't arrive at all.
Some farang here have their knives out for Bangkok Bank now, after some changes imposed by the government caused them to tighten up on opening new accounts and to suspend some existing accounts. There have been some who blamed BKB for WISE delays in payment too. A few have also complained that BKB is demanding that customers season their visa/extension funds in their accouts for FOUR months prior to the application date for the bank to pprovide a letter/certificate verifying that the funds complied with that. While that insistance seems unique to BKB at present - and is not an I.O. requirement, other banks will probably follow in their footsteps, so be prepared! Additionally, four BKB employees were charged for opening accounts for ineligible customers. It is all an attempt to limit the opportunity for scammers as demanded by the governmment.
Just a minute later than the third promised transfer time today, but note that instead of it being in my bank account and usable, they have changed that to warn that it could take another two days for the bank to credit my account.
As I type this, I have another message - this time from my bank - to say that it is was credited to my account at 12.14 pm.
Now that is a pretty quick transfer service - certainly more so than in each of the last three months which took up to 4 days to reach my account - and I'd struggle to find another provider who would beat the combination of exchange rate, charges, and speed provided by WISE. While that's a fair way of judging them, my grouse remains that if they promise a transfer serice level for a particular transaction, they should stick to it - or it's about as much use as waiting for a train to arrive at your station long after it has already left for the next stop, or doesn't arrive at all.
Some farang here have their knives out for Bangkok Bank now, after some changes imposed by the government caused them to tighten up on opening new accounts and to suspend some existing accounts. There have been some who blamed BKB for WISE delays in payment too. A few have also complained that BKB is demanding that customers season their visa/extension funds in their accouts for FOUR months prior to the application date for the bank to pprovide a letter/certificate verifying that the funds complied with that. While that insistance seems unique to BKB at present - and is not an I.O. requirement, other banks will probably follow in their footsteps, so be prepared! Additionally, four BKB employees were charged for opening accounts for ineligible customers. It is all an attempt to limit the opportunity for scammers as demanded by the governmment.
Ivor the Engine
Nowhere man
My last WISE transfer took much longer than before. Actioned 6pm and received at 10.45am the following day
CO-CO
Rather wrinkly & occasionally cantankerous member
I happened to be up after midnight so I thought that I would get my 1st of the month transfer of 65k Baht out of the way.
I don’t recall having this happen before but I was advised that the funds would be credited at 10:00 am.
The transfer was from my WISE Thai Baht account, same as last month where I don’t recall any delay
I don’t recall having this happen before but I was advised that the funds would be credited at 10:00 am.
The transfer was from my WISE Thai Baht account, same as last month where I don’t recall any delay
CO-CO
Rather wrinkly & occasionally cantankerous member
Just to close the circle:-
- Monday, 1 September at 00:16
You set up your transfer
Monday, 1 September at 11:08
We paid out your THB- Monday, 1 September at 11:08
Transfer successfully sent to your bank
Keep in mind — It can take up to 2 working days for your bank to credit the account.
Ivor the Engine
Nowhere man
Will you be going for a Retirement extension based on income?????
CO-CO
Rather wrinkly & occasionally cantankerous member
Yes.
Not straight forward........surprise, surprise................ 3 years ago I used money in the bank but for the last 2 years I have had to use an agent because I need to 'renew' 3 months before my expiry date. I need to get my expiry date sorted out so I shall let my extension run out when it expires next June. Then when I return from Europe in July , I shall then either enter visa exempt, or on a single entry Non-Imm 'O' visa (which I will 'extend' in September/October). In anticipation of that I have been transferring 65k Baht on the 1st of each month since June. I will no longer maintain 800k as I have been earning 4%+ on those funds being in a cash ISA.
Ivor the Engine
Nowhere man
I did this last Friday for the first time and complicated matter by giving too much information. SCB main bank were great. provided me with 1) updated bankbook 2)12 months statements showing 12 transfers 3) Guarantee letter. With those, Immigration also needed 12 months WISE statement to show they were international transfers and everything was done (for 1900b). A 450quid saving from the previous 2 years 'under the table' arrangements
CO-CO
Rather wrinkly & occasionally cantankerous member
The SCB info sounds perfect....the WISE statements shouldn't be necessary if the incoming transfers are clearly identified as being international transfers.
I think I previously mentioned that Jomtien Immigration required me to obtain a 'certificate' from Kasikorn bank's international department.
No doubt those requirements will change next time!
DailyLunatic
Surin Legend
Transferred from Wise Monday at 07:00. Took 4.5 hours.
Maybe it being a US holiday had an effect. At least it was same day this time.
-sterling
Maybe it being a US holiday had an effect. At least it was same day this time.
-sterling
CO-CO
Rather wrinkly & occasionally cantankerous member
All mine have been within 8 seconds.
A friend (who had experienced a few hours delay) changed the reason for transfer to "Funds for long-term stay in Thailand" and his are now instantaneous.
merlin
You chose a custom title
I'll try that again next time. Thanks!
