Transferwise delays

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Tom
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Transferwise delays

Post by Tom » Fri Feb 14, 2020 6:29 pm

Has anyone else noticed that TW now seems to delay somewhat with forwarding €uros to French banks?

Yesterday, when the rates were good, I transferred some money from our UK bank to TW who acknowledged receipt almost immediately at 18.33 hrs. But they only sent it to our French bank at 13.16 hrs today. In January they received money at 11.25 hrs and sat on it until 14.09 hrs. However, in the past, they used to forward the money much more quickly. For example last June they received at 15.34 hrs and sent at 16.00hrs.

:? Perhaps they have been obliged to carry out more checks for things like money laundering or perhaps they're just becoming lazy. Has anyone else seen this with TW or with any other similar companies?
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Ally
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Re: Transferwise delays

Post by Ally » Fri Feb 14, 2020 6:36 pm

I've just commenced my second stint with TW and already I'm experiencing the levels of frustration that led to me ending my first stint. I suspect my next transaction will be my last.
Change must come.

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Re: Transferwise delays

Post by Aardvark » Fri Feb 14, 2020 6:42 pm

It usually takes two full days for mine. As long as I get the rate they promise I don't much care how quick it is.
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Re: Transferwise delays

Post by basileus » Fri Feb 14, 2020 6:53 pm

+1

TW is usually one day except near weekends when french banks seem to go comatose. Their rates are good though.

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Re: Transferwise delays

Post by suein56 » Fri Feb 14, 2020 6:56 pm

Tom wrote:
Fri Feb 14, 2020 6:29 pm
Has anyone else noticed that TW now seems to delay somewhat with forwarding €uros to French banks?

Yesterday, when the rates were good, I transferred some money from our UK bank to TW who acknowledged receipt almost immediately at 18.33 hrs. But they only sent it to our French bank at 13.16 hrs today.
I did exactly the same as you yesterday but a few hours earlier .. result money acknowledged and sent on its way in less than 3 mins and it arrived in about 3 hours ..

I think (that means I don't know for sure) that TW became overloaded in the late afternoon and coped as best they could.

Mind you a lot can depend on your French bank as ours doesn't believe in cooperating after 4 pm on a Friday until Tuesday morning .. apart from that it's fine.
Last edited by suein56 on Fri Feb 14, 2020 6:58 pm, edited 1 time in total.
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Re: Transferwise delays

Post by Simonflys » Fri Feb 14, 2020 6:57 pm

Use Revolut - way better ! Instantaneous transfers GBP->GBP->EUR.

https://www.revolut.com/en-FR

Feel free to use my invite link for a free card - https://revolut.com/referral/simonwcw
Last edited by Simonflys on Fri Feb 14, 2020 7:02 pm, edited 1 time in total.

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Re: Transferwise delays

Post by suein56 » Fri Feb 14, 2020 7:01 pm

Simonflys wrote:
Fri Feb 14, 2020 6:57 pm
Use Revolut - way better ! Instantaneous transfers GBP->GBP->EUR.

https://www.revolut.com/en-FR
Really .. https://www.cityam.com/german-digital-b ... to-brexit/
Computing can bring you closer to others - mentally if not physically

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Simonflys
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Re: Transferwise delays

Post by Simonflys » Fri Feb 14, 2020 7:04 pm

suein56 wrote:
Fri Feb 14, 2020 7:01 pm
Simonflys wrote:
Fri Feb 14, 2020 6:57 pm
Use Revolut - way better ! Instantaneous transfers GBP->GBP->EUR.

https://www.revolut.com/en-FR
Really .. https://www.cityam.com/german-digital-b ... to-brexit/
Yes Really !!! Used Revolut for 2 years - brilliant!!

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Re: Transferwise delays

Post by exile » Fri Feb 14, 2020 7:07 pm

I thought that TW had been hacked and that they were still having issues as a result. That may explain the problems if they have to ensure high levels of security - and they do.

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Re: Transferwise delays

Post by suein56 » Fri Feb 14, 2020 7:25 pm

exile wrote:
Fri Feb 14, 2020 7:07 pm
I thought that TW had been hacked and that they were still having issues as a result. That may explain the problems if they have to ensure high levels of security - and they do.
Well if they were that still doesn't explain why my exchange/transfer was so quick early afternoon yesterday.
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