TransferWise

Mjp101 · by **Mjp101** » Wed Jul 01, 2020 4:11 pm

Hi all. To those using the Tranferwise accounts do you use the new direct debit facility. I only have a few mainly SUMO and solicitor but could save a lot if I could extract from Sabadell.

Mickey Braw · by **Mickey Braw** » Wed Jul 01, 2020 11:22 pm

David Stokes wrote:
Mickey Braw wrote:I have used TransferWise for many years now and have sung their praises.
This morning I made a transfer and watched it sailing across the screen only to stop, this for ‘security checks’. So I tried a further two times and the same thing happened. My U.K. bank account has been debited £5000. The money will take at least 4 working days to be refunded.
When the transfers were held up for the security check it said that the payment would take 4-10 working days to complete.
Hence I cancelled the payment, yet I still have £5000 missing from my account.
I phoned TransferWise and they told me that every so often random payments are pulled out for checking, there was no problem with my Debit Card or with the issuer, this was solely down to TransferWise and there was nothing they could do to override the system, even though my payment was extremely urgent and has caused me some embarrassment.
I will give TransferWise a wide berth in the future, they have really dropped me in the cart.
4-10 days is a joke!!!!

I think the problem is the amount. At £5,000 money laundering checks come into play, and it would be the paying or receiving bank that would have caused the delay. They are obliged by law to check random international transfers of that amount or higher.

I’m sorry, David but you are incorrect. The delay had absolutely nothing to do with the sending or receiving banks,
I attempted to send 3 payments, 2x£2000 and 1x£1000. All three were held by TransferWise for checks. The money was drawn from my UK bank and held. The money is still not back in my UK account and TransferWise say this delay is due to NatWest’s refund policy that can take at least 4 working days to credit the refunded money to my account. Those are the facts.
I must say that I had intended not to use TransferWise again, particularly so as my transfer was to meet my tax payment in Spain. However, I eventually sent the money via another currency company but that proved to be too much of a palaver, so I will use TransferWise again. As I said previously, I have been more than satisfied up until this incident, with transfers usually passing in a matter of 6 or 7 seconds, on any day of the week.

Kenbo · by **Kenbo** » Thu Jul 02, 2020 6:41 am

Mjp101 wrote:Hi all. To those using the Tranferwise accounts do you use the new direct debit facility. I only have a few mainly SUMO and solicitor but could save a lot if I could extract from Sabadell.

Yes I have, working perfectly and currently in the process of closing my Bankia account.

Mjp101 · by **Mjp101** » Thu Jul 02, 2020 2:28 pm

Thank you for reply, that’s encouraging.

I’ll get on the case

jpeg · by **jpeg** » Thu Jul 02, 2020 5:26 pm

I have just used Transferwise it took 6 seconds to transfer to Sabadell I used my UK debit Card

Mickey Braw · by **Mickey Braw** » Thu Jul 02, 2020 9:12 pm

Yes, that’s the norm Fred but don’t take it totally for granted.

GillianOSD · by **GillianOSD** » Thu Jul 02, 2020 10:10 pm

Happy to introduce you to the company I, my friends and clients use.

Award winning since 2016 to 2020. Cant hurt for them to call you or email?

I check as a matter of intrigue on each transaction and not seen better rates so myself and all happy.

Just private message me and can get them to contact you direct.

Gill

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