Wise formerly Transferwise

[m_right]

I hope the payment from Wise registers as an international payment, as thats required for our visas, even if it comes from a local account ultimately owned by Wise.

On saying that, I made a transfer earlier - I studiously avoid weekends - and it told me in advance it would be completed in seconds, but it wasn't, it took about 20 minutes according to Wise, as oddly, about 5 minutes before that, I got a text from Kbank confiriming receipt of the payment. Never had that happen before.

Did it show up as an international payment?

[caller]

Did it show up as an international payment?

It always has for me, or at least in a way that is acceptable to immigration, after I get the confirmation from my bank. As of now, it just shows as a trade finance deposit, but it was only 2 days ago.

[HHTel]

I've transferred many times without problems.

Set up a transfer this morning. Initially tracked as 'on it's way and will be with you in 4 hours.

30 mins later I get the message:

"Because of a technical issue, your transfer has been delayed.
We’re already looking into the issue and will let you know via email when we have an update — this is usually within 2-5 working days."

Has anyone else ever had a similar problem?

[Green Nomad]

Wise in effect do not do the transfer as international, that's why their fees are less. They use their own bank so to speak within each receiving country and do a local transfer. This is also the reason they can complete in minutes or even seconds. But, Thailand can be different as we all know. My transfers to Thailand are normally done in a day and I'm satisfied with that.

[Big Boy]

My last transfer took a couple of hours, but I'm still used to a 'blink of an eye' service as the norm.

[STEVE G]

I did a transfer to Thailand on Monday evening that went through in seconds.

[HHTel]

I've transferred many times without problems.

Set up a transfer this morning. Initially tracked as 'on it's way and will be with you in 4 hours.

30 mins later I get the message:

"Because of a technical issue, your transfer has been delayed.
We’re already looking into the issue and will let you know via email when we have an update — this is usually within 2-5 working days."

Has anyone else ever had a similar problem?

I have had a response from them which suggests that it's not a Wise problem:

As I could have seen the transfer was sent out from our end however due to technical issue the transfer has bounced back to us. Our team is currently working in this issue. As mentioned previously it might take from up to 2-5 working days.

I have noted the urgency of this transfer and will forward it to the relevant team as well.

Very strange!

[thecolonel]

I did a transfer(c.2k£)24 hours ago and I'm still waiting for funds

The tracker says it will be here tomorrow pm so 48 hours ish

Luckily I'd planned ahead


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[HHTel]

I did a transfer(c.2k£)24 hours ago and I'm still waiting for funds

The tracker says it will be here tomorrow pm so 48 hours ish

Luckily I'd planned ahead


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I've never waited for more than a few hours. Sometimes only minutes.

It does appear that there is a problem.

[buksida]

Maybe the Thai banks are collecting info and logging all the foreign transfers in preparation to send the data to the tax dept, which is why it takes more time now ...

[Martinoo]

just transferred 5 seconds, you need to give it a valid reason.. like sending money back to family
reasons like, funds for long term living 'could' trigger attention
Additionally i transfer to my wife her account and if you can prove the funds come from an existing savings account in farangland, there is no issue. (proof like statements etc) but you have to declare the interest upon you allowance here at tax submission
I have done my submission an am waiting for the outcome, which shows I should receive money back (which could be difficult as the tax paid was in farang land) but it is all pretty straight forward

[Big Boy]

Whatever recent problems may have been, today's tranfer was back to 'blink of an eye'.

[thecolonel]

Whatever recent problems may have been, today's tranfer was back to 'blink of an eye'.

My last 3 transfers (over 5 months period or so) have all taken 48 hours in total so I think the issue still exists and you were lucky.

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[Big Boy]

LOL, probably - maybe I should sell lottery numbers.

[Mikeyb]

I have a theory that Wise algorithms make a decision on wether to transfer immediately or wait. On the premise they can make a bit more margin.
Say you transfer £1 and get a rate of 44b , if Wise think the THB is going to go down over night or next day , you get it instantly.

If its going to up , they hold it and wait for the improved rate but you still get the promised rate at time of transfer .