Wise
#1
BE Forum Addict
Thread Starter
Joined: Jan 2015
Posts: 2,352
Wise
On a closed thread a couple of years ago a number of people recommended remitting from the UK through Transferwise, now Wise. I presently use the PNB. It seems to have a consistently lower exchange rate and charges slightly more to send to my PNB account so I'm thinking of changing to them. But they are quick, yesterday money was sent here in less than 3 hours and that's not using a debit card online, just a bank transfer and an email informing them.
How long do those of you using Wise have to wait?
How long do those of you using Wise have to wait?
#2
BE Forum Addict
Joined: Jun 2014
Location: Philippines
Posts: 1,853
Re: Wise
On a closed thread a couple of years ago a number of people recommended remitting from the UK through Transferwise, now Wise. I presently use the PNB. It seems to have a consistently lower exchange rate and charges slightly more to send to my PNB account so I'm thinking of changing to them. But they are quick, yesterday money was sent here in less than 3 hours and that's not using a debit card online, just a bank transfer and an email informing them.
How long do those of you using Wise have to wait?
How long do those of you using Wise have to wait?
#3
BE Enthusiast
Joined: Feb 2014
Location: Marikina Philippines
Posts: 885
Re: Wise
My experience of using Wise for many years is excellent both in terms of exchange rates and the total time for money to each my BDO account. Time wise depending of the day of the week and time of day can vary between a matter of minutes to three hours. However I must stress that any transfer taking longer than one hour is very rare. In fact transfer times during the last twelve months have shortened considerably.
I transfer direct from my UK account.
I transfer direct from my UK account.
#4
Forum Regular
Joined: May 2017
Location: uk/manila
Posts: 206
Re: Wise
On a closed thread a couple of years ago a number of people recommended remitting from the UK through Transferwise, now Wise. I presently use the PNB. It seems to have a consistently lower exchange rate and charges slightly more to send to my PNB account so I'm thinking of changing to them. But they are quick, yesterday money was sent here in less than 3 hours and that's not using a debit card online, just a bank transfer and an email informing them.
How long do those of you using Wise have to wait?
How long do those of you using Wise have to wait?
Cheers.
#5
BE Enthusiast
Joined: Jan 2012
Posts: 466
Re: Wise
I use wise all the time. Sent money last Monday, it was credited to our account Wednesday. That is the normal time it takes in our case.
We previously used XE currency but even though there is not cost for sending the funds it works out more expensive than wise becuase XEs exchange rate is not so good as Wise.
We previously used XE currency but even though there is not cost for sending the funds it works out more expensive than wise becuase XEs exchange rate is not so good as Wise.
#6
Re: Wise
I drag and drop to my hsbc account to keep it topped up but use Wise to send our monthly expenses directly to our PNB account. Usually get a few more pesos than going the hsbc route. Wise is often in our account within a couple of hours. If not it's usually PNB at fault. Also hsbc Philippines to PNB can take a couple of days.
#7
BE Forum Addict
Joined: Jun 2014
Location: Philippines
Posts: 1,853
Re: Wise
Should mention that in my case the funds are normally in my account within a few hours. They send an email to confirm that the funds have been deposited and I can draw immediately....(BPI) But I am warned that in some instances... depending on bank and branch that although the money is with the bank...it can take up to 48 hours before it can be drawn upon. Guess the bank or branch are playing with the money. Nonetheless... well recommended. Never had a problem.
#8
BE Forum Addict
Joined: Feb 2014
Location: Capiz
Posts: 1,646
Re: Wise
Have used them for about 18 months, transfer funds normally available for withdrawal in about 2 to 3 hours hours.
Another service they provide is a bank account which you can open up with them on line, you get the full sort code and account nr you get opening a bank account in the UK. So for anyone who has to get their pension/funds sent here on a particular date it could be quite useful.
Another service they provide is a bank account which you can open up with them on line, you get the full sort code and account nr you get opening a bank account in the UK. So for anyone who has to get their pension/funds sent here on a particular date it could be quite useful.
#9
BE Forum Addict
Thread Starter
Joined: Jan 2015
Posts: 2,352
Re: Wise
Many thanks for all those positive responses. They explain why the PNB in London suddenly started to improve their service about a year ago. But they can't match the rate, so I will give Wise a trial.
Yes, it's the local banking system here where there are the problems eg lack of reliable and convenient ATMs when you get just a bit out of town. Plenty of gas stations go up, but unlike the UK few ATMs at them
Yes, it's the local banking system here where there are the problems eg lack of reliable and convenient ATMs when you get just a bit out of town. Plenty of gas stations go up, but unlike the UK few ATMs at them
Last edited by Raffin; Oct 5th 2021 at 8:57 pm.