Wise

Old Sep 20th 2023, 3:49 am
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Default Wise

Disappointing news in the inbox from Wise.
The tax doesn't make much difference but you need to show a passport and proof of address if you want to receive P100,000 or over a month.

I understand there's a fair few of you who use them.

Any alternative suggestions welcome.


Last edited by Raffin; Sep 20th 2023 at 4:56 am.
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Old Sep 21st 2023, 3:42 am
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Default Re: Wise

Yup, got same message. I've used Wise for years so will likely swallow the 12.5% VAT - I notice its only on the FEE that Wise charge so unless I transfer millions its not going to be high. I.E on a 500pesos transfer fee it will be 62.5 pesos.
The alternatives seem to be doing the same or similar so presumably part of the global anti-money laundering schemes.......
Proof of address etc is no problem, scan of passport and SRRV ID and hopefully done!
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Old Sep 21st 2023, 4:18 am
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Default Re: Wise

Originally Posted by quiltman
Yup, got same message. I've used Wise for years so will likely swallow the 12.5% VAT - I notice its only on the FEE that Wise charge so unless I transfer millions its not going to be high. I.E on a 500pesos transfer fee it will be 62.5 pesos.
The alternatives seem to be doing the same or similar so presumably part of the global anti-money laundering schemes.......
Proof of address etc is no problem, scan of passport and SRRV ID and hopefully done!
Yes, they still look good in a comparison list, but one they issued themselves.
A bit concerned that Wise Pilipinas Inc is not a bank. One is giving them personal information.
Still it is a good service from the app so may stay with them.
I emailed them yesterday about how where you give them the photos or scans as I couldn't see any instructions on that.
No reply yet.

Last edited by Raffin; Sep 21st 2023 at 4:24 am.
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Old Sep 21st 2023, 4:43 am
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Default Re: Wise

No, I could not see how to upload the info. Probably when I next come to transfer next week. Both mine and my wifes ID are scanned and ready to go! Now and then I transfer more than 100K pesos but mostly just under.
Yes, I see Wise Pilapinas is not a registered bank here and I emailed Wise asking what Wise Pilapinas would be doing with my personal info. No response yet .

The service is very good and has improved over the last few months - transfers now take minutes, not hours, unless it is a Bank Holiday!
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Old Sep 21st 2023, 6:07 am
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The help desk initially denied asking for personal details then when I sent them their email said that instructions on what to do will come later on in another email. So the first email an alert. Hmm..
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Old Sep 21st 2023, 1:47 pm
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Default Re: Wise

Personally I can see no problems with the change over.

Today I tried it out and transferred my normal 10k PHP and it came within about 30 mins or so. Fee was £2. I assume the VAT was included.

For those that need to go above the 100k threshold, the two requirements are simple enough to perform from previous experience....and I would assume it's a one off for future transfers.

On the subject of how and when to upload their additional requirements, I would assume it's the same that happened to me some time ago....they will ask for it when you try to make a transfer.



Last edited by Philosophical 11; Sep 21st 2023 at 1:55 pm.
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Old Oct 2nd 2023, 8:18 am
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Default Re: Wise

Well, last Friday I transferred both my wifes teachers pension and my pension. Both around 90K. Interestingly my wifes went with no problem at all but mine asked me to confirm my address then carried on OK .Both pensions were here within 30 minutes.
No other ID was asked for. Maybe it kicks in at the 100k mark?
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Old Oct 2nd 2023, 8:58 am
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Default Re: Wise

Originally Posted by quiltman
Well, last Friday I transferred both my wifes teachers pension and my pension. Both around 90K. Interestingly my wifes went with no problem at all but mine asked me to confirm my address then carried on OK .Both pensions were here within 30 minutes.
No other ID was asked for. Maybe it kicks in at the 100k mark?
Just asked for 90k and it says sending.
Not asked for anything.
The over 70 rate didn't last for long!
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Old Oct 3rd 2023, 5:19 am
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Default Re: Wise

Let the Tories complete their infighting at the Manchester Conference then maybe we we see some stability in the GBP exchange rate.
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Old Oct 3rd 2023, 6:40 am
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Default Re: Wise

Originally Posted by Bealinehx
Let the Tories complete their infighting at the Manchester Conference then maybe we we see some stability in the GBP exchange rate.
Then next week Labour, also at Manchester. Interesting given HS2. Either can't do much with the economy for some time after 2024..
Someone said that the PHP doing well lately as the Bangko Central is doing a good job. ​​​​​What, with inflation? Growth? The
​ UK is too much in the news.
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Old Oct 3rd 2023, 7:28 am
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Default Re: Wise

It seems that the PHP is beginning to have a difficult time. The latest approval ratings for BBM will do nothing to strengthen the PHP.
As for Blighty the current administration is failing to encourage confidence in its ability to effect positive change. It seems that as far as they are concerned anything North of the Midlands is of no interest. I'm sure that next years General Election will witness the collapse of Blobby's Blue Wall. Interesting times ahead on both sides of The Pond.
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