Wise formerly Transferwise

[Big Boy]

I've only ever used method 1.

[Big Boy]

I always transfer between 8am and 9am on the last day of each month, and ensure I avoid weekends. If the last day falls on a weekend, I transfer on the Friday before. It works very well.

[PeteC]

I think it possibly has to do with the governments limit over which the transaction has to be reported. The US is 10,000. Does the UK have a requirement like this?

I transferred over that a few weeks ago, My bank>Wise>Thai bank, and it took the best part of a week. I've done under 10,000 several times and it was almost immediate.

What I haven't tried yet is step #2 above, and let the funds sit in my Wise account for a few days before initiating the transfer to Thailand. For all I know if it's over 10,000 both my bank and Wise may need to report it slowing things down even more.

[Big Boy]

I transfer a minimum of 75,000฿ each month, but rarely more than 150,000฿, so I'm not sure about such limitations.

[buksida]

Never had an issue with Wise, primarily use the USD account and transfers happen in seconds (six figs). The delays, if you get them, are probably down to the bank holding on to the funds, they do it with SWIFT all the time - its primitive to say the least.

[caller]

I believe everything transfered in or out of the UK of more than £10k, is reported to the revenue, as per money laundering regs, it doesn't actually hold up the payment. That 10k figure was from years ago, so it may have changed.

It's funny how we all have different methods in using Wise. I always transfer from my bank to wise, then on to me. I try to make such transactions when both banks are physically open, despite the fact it is all computerised, but that's mainly as I don't trust the Thai end.

Generally the transfer takes a few seconds to a few minutes. Sometimes, rarely, they give me a later time for the transfer, and that generally happens within a minute or so of the given time. My latest transfer, just a week ago, took a few minutes, as unusually, there was a delay in Wise receiving the funds from my bank. But basically, when they got it, so did I.

[STEVE G]

I keep quite a large amount in my Wise account as the interest rates are pretty good and have found that I get immediate transfers on anything up to about 2,000 Euros and up to two days for large amounts.
To be honest, when I am transferring large amounts it's for buying vehicles or property construction and things like that and I don't do that on a whim so planning an extra two days isn't any problem.

[Big Boy]

I've just done my largest transfer of funds ever using Wise - just short of £10,000. It wasn't the blink of an eye stuff that I've become used to, but I'd guestimate 5 blinks of the eye. With it being a large amount (for me), those 5 blinks seemed more like 5 days, but still very efficient.

[STEVE G]

^If I send that much from Europe it normally takes about two days.
To be honest, it's never been a problem because I'm sending large sums for either property or vehicles and I'm not wealthy enough to make those kind of deals without a bit of planning.

[PET]

I have just sent to my Kasikorn a/c Stg 7k and it arrived within 5 mins - so normal by Wise in my experiece

[thecolonel]

I've just transferred 100k thb with wise

1. I'm going to have to wait 24 hrs to get it

2. Western Union were 'cheaper' again like last time but I still haven't been arsed to do anything about it!!

Normally I like to get best deal/do most efficient way but I must be getting lazy!

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[Big Boy]

I had to do a large transfer a couple of weeks back, and Western Union were not in the business for large transfers. Do you know at what point Western Union drop out of the reckoning - I guess at least 100K if they were cheaper last time.

[thecolonel]

I had to do a large transfer a couple of weeks back, and Western Union were not in the business for large transfers. Do you know at what point Western Union drop out of the reckoning - I guess at least 100K if they were cheaper last time.

My previous transfer was circa 60k so not big money

Personally I don't need transfers over 100k thb so WU are an option for me.

But we're talking 250 baht more for a 100k transfer so it's 3 happy hour big Leos in perspective!

Its whether I can be bothered, I've no excuse really but I just like Wise.

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