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Topic: Transferwise - first transfer question  (Read 693 times)

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Transferwise - first transfer question
« on: May 07, 2019, 09:46:57 AM »
So I finally signed up and entered all my bank details Sunday. It said it couldn’t link my account and that I would have two micro deposits and to enter that info and my transfer would be complete.

I’ve checked both accounts (USD AND UK) and I have no deposits. It’s onky technically been one business day here but...

Which account would the micro deposit go into? The one I picked to deposit my transfer into? I’m transferring us to uk $ to £

How long does it take to complete a transfer normally?

My bank in the states is a small credit union (statewide) so I’m hoping that’s not the issue.

Any ideas?
Married: 26 Feb 2018
UK Spouse Visa (Priority)
Applied online: 21 March 2018
Biometrics appt & documents mailed: 22 March 2018
Documents delivered & received email: 26 March 2018
Decision email: 1 May 2018
Passport received: 3 May 2018
Decision: APPROVED!!!!!
25 BD


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Re: Transferwise - first transfer question
« Reply #1 on: May 07, 2019, 11:01:02 AM »
So I finally signed up and entered all my bank details Sunday. It said it couldn’t link my account and that I would have two micro deposits and to enter that info and my transfer would be complete.

I’ve checked both accounts (USD AND UK) and I have no deposits. It’s onky technically been one business day here but...

Which account would the micro deposit go into? The one I picked to deposit my transfer into? I’m transferring us to uk $ to £

How long does it take to complete a transfer normally?

My bank in the states is a small credit union (statewide) so I’m hoping that’s not the issue.

Any ideas?

It's been a while for me so I don't remember the initial process. Just call Transferwise. They are extremely helpful on the phone and they'll be able to speak to your exact situation.  :)
March 28th 2013-Moved to UK, husband on spouse visa.Oct 20th 2015-Applied by mail for FLR(M).Feb 1st 2016 FLR(M).March 7th 2018 ILR. YAY! March 21st NCS&JCAP appointment.


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Re: Transferwise - first transfer question
« Reply #2 on: May 07, 2019, 11:46:58 AM »
I use Transferwise every month for my student loan payments and it typically takes about 2 or 3 days (depending on if I do it over a weekend/etc.)

Definitely phone them though, as Larrabee suggested as I've not ever encountered the same issue that seems to have come up for you and I know I've also heard their customer service is superb.

best of luck!
My, how time flies....

* Married in the US and applied for first spousal visa August 2013
* Moved to the UK on said visa October 2013
* FLR(M) applied for  May 2016. Biometrics requested June 2016. Approval given July 2016.
* ILR applied for January 2019 (using priority processing). Approved February 2019.
* Citizenship applied for May  2019

**CITIZENSHIP APPROVED July 4, 2019! Formal ceremony on August 28, 2019!**

HEY MOM, I'M A BRIT NOW :D


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Re: Transferwise - first transfer question
« Reply #3 on: May 07, 2019, 11:57:51 AM »
I think it should be the account they will be pulling money from, and with the USA it will take a couple of business days as the US uses ACH which is an overnight process Monday to Friday and not on Holidays.

When I went through the same process with Vanguard in 2016 it took much longer than I expected and I ended up calling them.
Dual USC/UKC living in the UK since May 2016


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Re: Transferwise - first transfer question
« Reply #4 on: May 07, 2019, 12:00:35 PM »
Oh yes, do remember that yesterday was a bank holiday for the UK which may have caused delay.
My, how time flies....

* Married in the US and applied for first spousal visa August 2013
* Moved to the UK on said visa October 2013
* FLR(M) applied for  May 2016. Biometrics requested June 2016. Approval given July 2016.
* ILR applied for January 2019 (using priority processing). Approved February 2019.
* Citizenship applied for May  2019

**CITIZENSHIP APPROVED July 4, 2019! Formal ceremony on August 28, 2019!**

HEY MOM, I'M A BRIT NOW :D


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Re: Transferwise - first transfer question
« Reply #5 on: May 07, 2019, 12:08:10 PM »
Thanks everyone. I'll just keep checking the accounts and if nothing shows up in the next day or so, I'll try calling them.
Married: 26 Feb 2018
UK Spouse Visa (Priority)
Applied online: 21 March 2018
Biometrics appt & documents mailed: 22 March 2018
Documents delivered & received email: 26 March 2018
Decision email: 1 May 2018
Passport received: 3 May 2018
Decision: APPROVED!!!!!
25 BD


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Re: Transferwise - first transfer question
« Reply #6 on: May 07, 2019, 03:22:49 PM »
The account verification deposits take at least 24 hours to show up.  Give it some time.  If you don't have it within 2 full business days, phone or use the help chat.
9/1/2013 - "fiancée" (marriage) visa issued
4/6/2013 - married (certificate issued same-day)
5/6/2013 - FLR(M)#1 in person -- approved!
8/1/2016 - FLR(M)#2 by post -- approved!
8/5/2018 - ILR in person -- approved!
22/11/2018 - Citizenship (online, with NDRS+JCAP) -- approved!
14/12/2018 - I became a British citizen.  :)


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Re: Transferwise - first transfer question
« Reply #7 on: May 07, 2019, 04:02:34 PM »
I use a recurring transfer from my bank and my bank wires it to TWise bank account in NewYork, money shows up within hours at Nationwide in UK.


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Re: Transferwise - first transfer question
« Reply #8 on: May 07, 2019, 04:06:52 PM »
I use a recurring transfer from my bank and my bank wires it to TWise bank account in NewYork, money shows up within hours at Nationwide in UK.

Once the account established it is great. Op was asking about how long the security checks took. Do you recall your experience?
Dual USC/UKC living in the UK since May 2016


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Re: Transferwise - first transfer question
« Reply #9 on: May 07, 2019, 04:11:45 PM »
I use a recurring transfer from my bank and my bank wires it to TWise bank account in NewYork, money shows up within hours at Nationwide in UK.

Wire transfers are the most expensive way to do it. Better to go with bank debit (ACH) if you can. If not, paying by debit card is next best.
March 28th 2013-Moved to UK, husband on spouse visa.Oct 20th 2015-Applied by mail for FLR(M).Feb 1st 2016 FLR(M).March 7th 2018 ILR. YAY! March 21st NCS&JCAP appointment.


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Re: Transferwise - first transfer question
« Reply #10 on: May 07, 2019, 04:25:09 PM »
Once the account established it is great. Op was asking about how long the security checks took. Do you recall your experience?
[/quoteIt has been a long time, don't remember how long first time took.


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Re: Transferwise - first transfer question
« Reply #11 on: May 07, 2019, 04:26:42 PM »
Wire transfers are the most expensive way to do it. Better to go with bank debit (ACH) if you can. If not, paying by debit card is next best.
Wire transfer is only $10 from my bank.


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Re: Transferwise - first transfer question
« Reply #12 on: May 07, 2019, 04:40:21 PM »
Wire transfer is only $10 from my bank.

But banks don't charge at all for ACH and Transferwise charge a higher fee for wire transfers in addition to what you pay your bank.

Current charges to transfer $1,000

Quote
2 USDBank debit (ACH)fee
4.90 USDOur fee
6.90 USDTotal fees
No additional charge from the bank for ACH

Total ACH bank and Transferwise fees = $6.90

Vs

Quote
5.34 USDWire transferfee
4.89 USDOur fee
10.23 USDTotal fees
Plus the $10 your bank charges

Total wire bank and Transferwise fees = $20.23
March 28th 2013-Moved to UK, husband on spouse visa.Oct 20th 2015-Applied by mail for FLR(M).Feb 1st 2016 FLR(M).March 7th 2018 ILR. YAY! March 21st NCS&JCAP appointment.


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Re: Transferwise - first transfer question
« Reply #13 on: May 07, 2019, 04:50:02 PM »
But banks don't charge at all for ACH and Transferwise charge a higher fee for wire transfers in addition to what you pay your bank.

Current charges to transfer $1,000
 No additional charge from the bank for ACH

Total ACH bank and Transferwise fees = $6.90

Vs
 Plus the $10 your bank charges

Total wire bank and Transferwise fees = $20.23
Thanks


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Re: Transferwise - first transfer question
« Reply #14 on: May 07, 2019, 06:24:27 PM »
Ended up cancelling the transfer and did another one. I didn't get the "we can't connect your account" pop up this time.

I was probably doing something wrong.

We'll see if it works  ;D
Married: 26 Feb 2018
UK Spouse Visa (Priority)
Applied online: 21 March 2018
Biometrics appt & documents mailed: 22 March 2018
Documents delivered & received email: 26 March 2018
Decision email: 1 May 2018
Passport received: 3 May 2018
Decision: APPROVED!!!!!
25 BD


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