WISE

ColinW said:
I have just tried, as I have done many times, to transfer funds from my Wise bank account to my Thai Bangkok Bank account.
I entered reason for transfer as Funds for Long Time stay in Thailand, after pressing enter it moved to another screen again asking for the reason for the transfer but this time Funds for Long Time stay in Thailand was not amongst the options.
Has anyone else come across this recently, I transfer monthly and have never had this happen before.
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I can't remember what I indicate as a reason for the transfer - "cost of living" maybe. But the reason doesn't matter to me as I don't need to verify that the funds came from overseas for Immigration (yet!). I really don't think that Wise care why the money is being transferred - presuming it's within the ฿50,000.00 limit or transferred to Bangkok, SCB or Kasikorn Bank?
 
ColinW said:
I have just tried, as I have done many times, to transfer funds from my Wise bank account to my Thai Bangkok Bank account.
I entered reason for transfer as Funds for Long Time stay in Thailand, after pressing enter it moved to another screen again asking for the reason for the transfer but this time Funds for Long Time stay in Thailand was not amongst the options.
Has anyone else come across this recently, I transfer monthly and have never had this happen before.
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I do not use that option. I think I use the second reason on the list, something like "for monthly living expenses". Been using that since I started using WISE without a problem.
 
nomad97 said:
I do not use that option. I think I use the second reason on the list, something like "for monthly living expenses". Been using that since I started using WISE without a problem.
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Yes, I remember now - second on the list is the one that I use.
 
Yorky said:
I can't remember what I indicate as a reason for the transfer - "cost of living" maybe. But the reason doesn't matter to me as I don't need to verify that the funds came from overseas for Immigration (yet!). I really don't think that Wise care why the money is being transferred - presuming it's within the ฿50,000.00 limit or transferred to Bangkok, SCB or Kasikorn Bank?
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WISE are obliged to quote a reason for transfer to satisfy Bank of Thailand requirements.
 
WISE MAKING PROBLEMS

Yesterday made a simple transfer from my Wise account to my UK Barclays bank account for £50. Was told my transfer was "PAUSED" as they were verifying my documents (?what documents??) ... promised payment within 3 hours.

No payment received today.

Now they state "We’ve paused your transfer while we verify your documents. This can take up to 5 working days"

Have I done something wrong? Am I personna non grata? I am not Nigel Farage!"

Regardless of the amount I will be pressing for compensation!
 
You may wish to read the terms and conditions before embarking on a wild goose chase for 'compensation'.

Compensated for what?

I had something similar happen earlier this year with a small transfer.....it took 2 days to resolve.

Did you ask them what 'documents' they were verifying?

I wonder if it might be a random money laundering check........
 
Wise is step-by-step reviewing its customer base to comply with anti-money laundering regulations. I was recently asked by email to confirm my identity and address in Europe. Strangely enough, I was then only asked to upload my ID card (which may make sense, because an ID card is only issued if you also live in the Netherlands, otherwise you will receive a passport). My account was never blocked, but that would be the consequence if I didn't cooperate. Under the guise of combating terrorism and preventing money laundering, banks must be increasingly strict (from the governments). I think, correct me if I'm wrong, Wise is not available in Thailand. So if you no longer have an address in Europe, it can become difficult in the long run, since more and more European banks no longer want customers from outside Europe (even if they have a European nationality)
 
JeeKee said:
Wise is step-by-step reviewing its customer base to comply with anti-money laundering regulations. I was recently asked by email to confirm my identity and address in Europe. Strangely enough, I was then only asked to upload my ID card (which may make sense, because an ID card is only issued if you also live in the Netherlands, otherwise you will receive a passport). My account was never blocked, but that would be the consequence if I didn't cooperate. Under the guise of combating terrorism and preventing money laundering, banks must be increasingly strict (from the governments). I think, correct me if I'm wrong, Wise is not available in Thailand. So if you no longer have an address in Europe, it can become difficult in the long run, since more and more European banks no longer want customers from outside Europe (even if they have a European nationality)
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Many long-term residents in Thailand (with only a Thai address) maintain accounts with WISE and have pensions paid through them.
 
Natwest International, IoM - Wise - Kasikorn, Surin: about a minute at 15:30 today. It could have been quicker but I couldn't keep up!
 
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