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Another Transfer(Wise)Question

Another Transfer(Wise)Question

Postby NeilM » Fri May 07, 2021 2:48 pm

I'm a long term user of Wise but am only just getting around to paying DD's through the platform. If I may, I have a couple of questions for those more experienced.

1, When a company present a DD for payment am I given the option to authorise before payment. Or is there some other security in place?

2, Telfy specific - Telfy recon I cannot have a DD with them with any other than a Spanish bank account. They will accept a transfer of funds but not a DD. Has anyone managed to set up a DD?

Regards
Neil.
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Re: Another Transfer(Wise)Question

Postby jpeg » Fri May 07, 2021 5:26 pm

I thought that Telfy have solved that problem now as they legally can not refuse a DD drawn on a European Union Bank account and Wise use a Belgium one

I contacted Wise this is the answer
We only offer a Belgium IBAN because our partner bank is in Belgium. We can't change your EUR account details either. You can get in touch with the company and tell them it's illegal to not accept IBANs in the EU. It has been since 2014 under "IBAN discrimination". You can read more about this from these two pages https://wise.com/gb/blog/iban-not-accepted-reporting https://www.acceptmyiban.org/
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Re: Another Transfer(Wise)Question

Postby NeilM » Fri May 07, 2021 7:12 pm

jpeg wrote:I thought that Telfy have solved that problem now as they legally can not refuse a DD drawn on a European Union Bank account and Wise use a Belgium one

I contacted Wise this is the answer
We only offer a Belgium IBAN because our partner bank is in Belgium. We can't change your EUR account details either. You can get in touch with the company and tell them it's illegal to not accept IBANs in the EU. It has been since 2014 under "IBAN discrimination". You can read more about this from these two pages https://wise.com/gb/blog/iban-not-accepted-reporting https://www.acceptmyiban.org/



Wow, thanks Jpeg. I'll be tackling Telfy next week.
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Re: Another Transfer(Wise)Question

Postby Paul Uden » Fri May 07, 2021 7:43 pm

NeilM wrote:I'm a long term user of Wise but am only just getting around to paying DD's through the platform. If I may, I have a couple of questions for those more experienced.

1, When a company present a DD for payment am I given the option to authorise before payment. Or is there some other security in place?

2, Telfy specific - Telfy recon I cannot have a DD with them with any other than a Spanish bank account. They will accept a transfer of funds but not a DD. Has anyone managed to set up a DD?

Regards
Neil.


You set up the direct debit with the supplier so that is your security. Wise will accept all their requests for payment once it's set up, but you can cancel them through the app any time. You only tend to hear from them before the first payment when the supplier first sets it up and then each time after they've taken the monies (although suppliers should send you an invoice or payment schedule first).

As for Telfy, I'm not aware anything has changed. If you have no other bank account you will have to make a monthly transfer (small fee for this). I think this is less to do with them not following the 'law' and more to do with them being a relatively small local company whose computer systems can't handle non-Spanish accounts. If you find their systems are now updated to accept other EU IBANs let me know!
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Re: Another Transfer(Wise)Question

Postby NeilM » Sat May 08, 2021 9:17 am

Paul Uden wrote:
NeilM wrote:I'm a long term user of Wise but am only just getting around to paying DD's through the platform. If I may, I have a couple of questions for those more experienced.

1, When a company present a DD for payment am I given the option to authorise before payment. Or is there some other security in place?

2, Telfy specific - Telfy recon I cannot have a DD with them with any other than a Spanish bank account. They will accept a transfer of funds but not a DD. Has anyone managed to set up a DD?

Regards
Neil.


You set up the direct debit with the supplier so that is your security. Wise will accept all their requests for payment once it's set up, but you can cancel them through the app any time. You only tend to hear from them before the first payment when the supplier first sets it up and then each time after they've taken the monies (although suppliers should send you an invoice or payment schedule first).

As for Telfy, I'm not aware anything has changed. If you have no other bank account you will have to make a monthly transfer (small fee for this). I think this is less to do with them not following the 'law' and more to do with them being a relatively small local company whose computer systems can't handle non-Spanish accounts. If you find their systems are now updated to accept other EU IBANs let me know!



Hi Paul. Thanks for the info. Telfy are saying their systems aren't set up to accept non Spanish DD's. So is probably as you say. I'll have a go at them next week and let you know if I get anywhere.

Regards
Neil
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Posts: 65
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Which part of Spain are you from?: Quesada
Gender: Male

Re: Another Transfer(Wise)Question

Postby milor » Sat May 08, 2021 1:39 pm

Telfy say they have been upgrading their system to accept non Spanish DD,s however 6 months have passed with me sending emails monthly to them and nothing has changed.
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Re: Another Transfer(Wise)Question

Postby Paul Uden » Sat May 08, 2021 3:22 pm

milor wrote:Telfy say they have been upgrading their system to accept non Spanish DD,s however 6 months have passed with me sending emails monthly to them and nothing has changed.


Thanks for that update. I thought as much. If you get a positive reply at any stage please post it on here.
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