TransferWise immediate transfer issues
#1
Just Joined
Thread Starter
Joined: Jul 2020
Posts: 5
TransferWise immediate transfer issues
Hi all, has anyone else been having issues with TransferWise and their “immediate” transfers over the last week?
I made some payments early last week From the UK and they still haven’t been received into my Sabadell account as yet because they were sent via SEPA instead.
When I queried it with TransferWise, they told me they had a technical issue but it’s now been resolved - but I’m not convinced. I’m a bit worried as I need the funds in Spain to complete my house purchase shortly
Can they be trusted?
I made some payments early last week From the UK and they still haven’t been received into my Sabadell account as yet because they were sent via SEPA instead.
When I queried it with TransferWise, they told me they had a technical issue but it’s now been resolved - but I’m not convinced. I’m a bit worried as I need the funds in Spain to complete my house purchase shortly
Can they be trusted?
#2
Re: TransferWise immediate transfer issues
Hi all, has anyone else been having issues with TransferWise and their “immediate” transfers over the last week?
I made some payments early last week From the UK and they still haven’t been received into my Sabadell account as yet because they were sent via SEPA instead.
When I queried it with TransferWise, they told me they had a technical issue but it’s now been resolved - but I’m not convinced. I’m a bit worried as I need the funds in Spain to complete my house purchase shortly
Can they be trusted?
I made some payments early last week From the UK and they still haven’t been received into my Sabadell account as yet because they were sent via SEPA instead.
When I queried it with TransferWise, they told me they had a technical issue but it’s now been resolved - but I’m not convinced. I’m a bit worried as I need the funds in Spain to complete my house purchase shortly
Can they be trusted?
However, I rarely do direct transfers as I have a Borderless account with Transferwise. When the exchange rate is up, I transfer from my UK sterling account to my borderless euro account and that takes just seconds. When I need money in my Spanish account I transfer euros from my Borderless account, into my Spanish account, this transaction also takes just seconds. The borderless account is now set up for direct debits now too, another advantage.
#3
Just Joined
Thread Starter
Joined: Jul 2020
Posts: 5
Re: TransferWise immediate transfer issues
Thanks Stevesainty,
Useful to know about the Monday/Friday issue Re transfers - I’m starting to learn about Spain and it’s bureaucracy!
I’ll look into the borderless account, it could be useful for me going forward.
cheers
Andy
Useful to know about the Monday/Friday issue Re transfers - I’m starting to learn about Spain and it’s bureaucracy!
I’ll look into the borderless account, it could be useful for me going forward.
cheers
Andy
#4
Just Joined
Joined: Mar 2020
Posts: 7
Re: TransferWise immediate transfer issues
I use CurrencyFair and have recently experienced a delay of a couple of days
#5
Re: TransferWise immediate transfer issues
Hi all, has anyone else been having issues with TransferWise and their “immediate” transfers over the last week?
I made some payments early last week From the UK and they still haven’t been received into my Sabadell account as yet because they were sent via SEPA instead.
When I queried it with TransferWise, they told me they had a technical issue but it’s now been resolved - but I’m not convinced. I’m a bit worried as I need the funds in Spain to complete my house purchase shortly
Can they be trusted?
I made some payments early last week From the UK and they still haven’t been received into my Sabadell account as yet because they were sent via SEPA instead.
When I queried it with TransferWise, they told me they had a technical issue but it’s now been resolved - but I’m not convinced. I’m a bit worried as I need the funds in Spain to complete my house purchase shortly
Can they be trusted?
#6
Just Joined
Joined: Mar 2020
Posts: 7
Re: TransferWise immediate transfer issues
It might be something to do with Covid-19 and staff
#7
BE Forum Addict
Joined: Aug 2009
Location: Costa Blanca
Posts: 3,143
Re: TransferWise immediate transfer issues
Never had a problem and last time it took under 10 seconds (once the transaction started) to move pounds to Euros in my Sabadell account. But that was a few months ago.
I have never heard of the Monday/Friday thing.
I have never heard of the Monday/Friday thing.
#8
BE Enthusiast
Joined: Feb 2020
Location: Nerja
Posts: 600
Re: TransferWise immediate transfer issues
Transferwise, unlike most other currency services, use 'matched bargain' basis, i.e. matching members transferring in the other direction, so for example if you are moving sterling to euro, your transaction is matched to another member moving euro to sterling. Because of this, at certain times there is a slight delay in your transaction going through, for example when a lot more people want to move sterling to euro, but the delay is usually short.
Last edited by Joppa; Aug 15th 2020 at 3:28 pm.
#9
BE Forum Addict
Joined: Apr 2010
Location: London (mainly)/Oliva
Posts: 2,137
Re: TransferWise immediate transfer issues
I am very wary of Spanish banks. Their charges are high but they are not particularly helpful and closing an account might be more trouble than its worth.
i) If I set up direct debits for my utilities etc can I close my Spanish bank account?
ii) Was setting up your dd's straightforward?
Thanks in advance
#10
Re: TransferWise immediate transfer issues
I have a borderless transferwise account but have only used it to transfer funds to my Spanish (Caixa) bank.
I am very wary of Spanish banks. Their charges are high but they are not particularly helpful and closing an account might be more trouble than its worth.
i) If I set up direct debits for my utilities etc can I close my Spanish bank account?
ii) Was setting up your dd's straightforward?
Thanks in advance
I am very wary of Spanish banks. Their charges are high but they are not particularly helpful and closing an account might be more trouble than its worth.
i) If I set up direct debits for my utilities etc can I close my Spanish bank account?
ii) Was setting up your dd's straightforward?
Thanks in advance
#11
BE Forum Addict
Joined: Aug 2009
Location: Costa Blanca
Posts: 3,143
Re: TransferWise immediate transfer issues
I thought Spanish utilities could only be paid from a Spanish bank account.
#12
Re: TransferWise immediate transfer issues
Here is one of the FAQ answers from Transferwise Borderless, https://transferwise.com/help/17/bor...r-bank-details
What if my EUR bank details aren't working?
We recently started giving users a new IBAN, starting with "BE". It lets users set up Direct Debits and get paid faster. But some people have had problems using these details. Here's what to do if something goes wrong.
A merchant is blocking my Direct Debit
Despite the Euro single market, some merchants won’t allow Direct Debits from Euro accounts in another country. For example, a Spanish gym might not accept your IBAN because it's based in Belgium.
Merchants are required by EU law to accept IBANs from other members of the European Economic Area (EEA). So, if someone doesn't accept your IBAN, please let us know using this form.
You can also report merchants who don't accept your IBAN to the relevant authority in your country.
#13
BE Forum Addict
Joined: Jul 2006
Location: london/gandia
Posts: 1,163
Re: TransferWise immediate transfer issues
I sent money to my Spanish flat's management account via Transferwise on 12th August and it arrived in less than a minute.
#14
BE Forum Addict
Joined: Jul 2006
Location: london/gandia
Posts: 1,163
Re: TransferWise immediate transfer issues
In the past money sent to Ireland has taken a day and to Malaysia has taken 3-4 days.
#15
BE Enthusiast
Joined: Feb 2020
Location: Nerja
Posts: 600
Re: TransferWise immediate transfer issues