Transferwise keep moving the transfer times without explanation?

[WorriedNoodle]

Anyone experiencing Transferwise keep moving the transfer times without explanation? I sent this Friday morning Thai time and it was first stated at pay out 3am Monday (I presume due to Thai bank holiday), then 10am, 10:10am and now 11:10am?

 

They've got my money, why don't they just send it when they said they would? There could be no limit to amount of times they change the pay out time?

 

On web site it says "Transfers to INR are taking a bit longer than usual". Any one know what INR means?

 

Edited March 1, 2021 by WorriedNoodle

[Fat is a type of crazy]

I have had that happen. It just kept saying it would be complete in a certain amount of time but just kept extending it out. Then..it was paid. In my case it went through within about 12 hours of the original estimate. For a while there it had  the money in the account within minutes but now seems to take a bit longer. 

[CharlieH]

Only had one instance last month where instead of minutes it jumped to 5 hrs and then a similar 3 am time thing.

 

[kidneyw]

It was always very fast, but since they changed their name to Wise it has slowed. At the moment waiting for one transfer that they have moved the original transfer time by twelve hours.

[BritManToo]

2 minutes ago, kidneyw said:

It was always very fast, but since they changed their name to Wise it has slowed. At the moment waiting for one transfer that they have moved the original transfer time by twelve hours.

Odd, 'cos I did a transfer this morning at 8:56am (UK to BKB), money was paid out at 9:04am, and they say my bank account should show it this afternoon.

Edited March 1, 2021 by BritManToo

[Moonlover]

Predicting transfer and payment times is not an exact science, especially when there's a public holiday, a weekend and a time difference of between 12 and 15 hours between locations

 

I really can't see what you're gripping about here.

[AlfHuy]

Normally shows it in your Thai bank at 2pm

[KannikaP]

17 minutes ago, BritManToo said:

Odd, 'cos I did a transfer this morning at 8:56am (UK to BKB), money was paid out at 9:04am, and they say my bank account should show it this afternoon.

Exactly the same for me Transferwise or Wise, my app & PC still show Transferwise.

For me, it always arrives at 14.00 the same or next day. Been same for years (for me) Never had an instant transfer even though I am sending THB to THB as I convert at varying times during the month.

I do not let my finances get to the position where a day or two's delay will make any difference.

[Stocky]

Likewise with transfer today from Singapore. Transfer was set up last week, just tracking best exchange rate. Sent the money this morning. Initially said we'll pay out in 15 minutes, but then it changed to the message below. From Singapore they've never paid out in 15 minutes, it usually arrives about 3pm. Will see what happens later this afternoon.

 

 

.

Edited March 1, 2021 by Stocky

[Peter Denis]

4 hours ago, WorriedNoodle said:

...

On web site it says "Transfers to INR are taking a bit longer than usual". Any one know what INR means?

...

INR stands for Indian rupee (the currency of India).

[BritManToo]

Well, it's 2:30pm and the money is in my BKB account, just like they said, marked 'International Transfer'.

[GrandPapillon]

never send money on a Friday, will take 48h or more

 

I think they use their own THB accounts for netting, that is crossing between money being sent out and money being sent in

 

don't think they are licensed in Thailand for currency exchange, so maybe they are being careful with certain transfers or might need approval from the BoT and we know that government agencies don't work on week-end

[GrandPapillon]

2 minutes ago, BritManToo said:

Well, it's 2:30pm and the money is in my BKB account, just like they said, marked 'International Transfer'.

interesting, Wise send money from a local THB account in my case, when I make transfer in EUR

 

maybe they are changing a few things for compliance reasons, and BoT regulations

[BritManToo]

Just now, GrandPapillon said:

interesting, Wise send money from a local THB account in my case, when I make transfer in EUR

 

maybe they are changing a few things for compliance reasons, and BoT regulations

You have to select "Money for long term stay in Thailand" on the 'reason' drop-down menu if you want it marked 'International Transfer'

[GrandPapillon]

11 minutes ago, BritManToo said:

You have to select "Money for long term stay in Thailand" on the 'reason' drop-down menu if you want it marked 'International Transfer'

I receive the funds from a local Thai account, don't think changing the labels for the transfer would mean that the funds would come from an overseas account that would get hit with BoT fees and in-shore exchange rates

 

are you getting the funds from a non-Thai bank account into your local bank account?

Edited March 1, 2021 by GrandPapillon

[Laza 45]

..'Transferwise are moving the times...'.. I think this is wrong thinking.. placing the blame on TW.. I think you will find that the problem is at the other end.. your receiving bank.. if your bank isn't 'open'.. due to weekend or a holiday.. your transfer won't go through until it is 'open'..  Having said that TW did send a reminder awhile ago that if money is sent at a busy time.. the 1st of the month for example.. when there is a large amount of activity.. you transfer might be delayed.  I don't believe that TW deliberately move transfer times..   I think Friday is a bad day to start a transfer.. if there is a delay for any reason your transfer will not be completed until the beginning of the following week.. keeping in mind public holidays  at either end.. I make my transfers during business hours Mon to Thurs.. rarely experience a delay.. 

 

I should add.. I always use a Debit card for my transfers.. other methods of payment may take longer.. possibly needing processing at either end.. 

Edited March 1, 2021 by Laza 45
added information

[WorriedNoodle]

4 hours ago, WorriedNoodle said:

Anyone experiencing Transferwise keep moving the transfer times without explanation? I sent this Friday morning Thai time and it was first stated at pay out 3am Monday (I presume due to Thai bank holiday), then 10am, 10:10am and now 11:10am?

 

They've got my money, why don't they just send it when they said they would? There could be no limit to amount of times they change the pay out time?

 

On web site it says "Transfers to INR are taking a bit longer than usual". Any one know what INR means?

 

 

Thanks for replies guys. Once the 11:10am payout time was reached, the notice simply changed to along the lines of 'no time defined and to expect delays' or words like that. Then the cash arrived at 11:17am. So not too bad, but preferred it when it was 5 seconds!

[treetops]

9 minutes ago, GrandPapillon said:

I receive the funds from a local Thai account, don't think changing the labels for the transfer would mean that the funds would come from an overseas account that would get hit with BoT fees and in-shore exchange rates

 

It would appear as an International Transfer just as described but would not be hit with BoT fees and in-shore exchange rates as you suggest.  There are many threads on here discussing how this works if you want to dig into it.

[Stocky]

2 hours ago, Laza 45 said:

1st of the month

Is most likely the reason my transfer from Singapore this morning is still to arrive. Probably turn up tomorrow afternoon. I'm not in any rush anyway, but TW could probably post more realistic and less optimistic arrival times based on the data they have.

[Stocky]

Money arrived 8pm this evening

[4evermaat]

16 hours ago, GrandPapillon said:

I receive the funds from a local Thai account, don't think changing the labels for the transfer would mean that the funds would come from an overseas account that would get hit with BoT fees and in-shore exchange rates

 

are you getting the funds from a non-Thai bank account into your local bank account?

 

TW send it using Bangkok Bank, but it is coded differently so that it appears to be an international transfer.  It's good enough for income requirements for immigration extensions of stay applications.  If you have a Bangkok Bank account with int'l remittance SMS setup, you will receive SMS.

Edited March 2, 2021 by 4evermaat
Add photo

[4evermaat]

I have noticed that TW can sometimes change the estimated times.   Not just a few hours.  Sometimes days.    And they will do it immediately after approving transfer, without a chance then to pick a different payment method or maybe cancel altogether.

 

But most of the time, the payment times are accurate.   I would complain to them about it though.

[Laza 45]

14 hours ago, Stocky said:

Is most likely the reason my transfer from Singapore this morning is still to arrive. Probably turn up tomorrow afternoon. I'm not in any rush anyway, but TW could probably post more realistic and less optimistic arrival times based on the data they have.

...perhaps they should follow their estimated arrival times with... 'Inshalla..'...

[Stocky]

Transfer from the UK just now using Monzo and TransferWise to Krungsri took seconds. As I watched the money debited from Monzo the sms arrived from Krungsri notifying of the deposit.