Money transfers.

I have sent money from Indonesia to Australia by Wize, directly to the bank. The only things asked was the BSB code. Money came fast.
Guess it's different sending money from a US bank to Australia through Wise. Again, sending money for purchases (AirBnB) and to individuals and not banks.
 
Guess it's different sending money from a US bank to Australia through Wise. Again, sending money for purchases (AirBnB) and to individuals and not banks.
I am not quite sure why do not you just use a Creditcard for Payment to AirBnB directly via Airbnb's online system? It is unsafe to provide credit card or bank details to the party you do not know well. Also, it will depend on the country where the creditcard is issued; Typically you will get extra protection by paying using creditcard. It is even better if you have a zero fee for foreign transaction credit card. Have you tried it ??

I have not tried it recently but for payment to individual (assuming a relatively small amount) could you not just use pay pal, it is typically instant, assuming a relatively small amount and the other said has a PayPal account as well) ??

Have you tried these methods and compare the result with Wise ??
 
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Thanks. This is for purchases or sending money to individuals. I don't trust Plaid as it allows access to my accounts by a third party which seems risky.
Similar concept I guess, Plaid uses your credentials to access your own account to process the transfer. And yes, it's an awful design.
 
Guess it's different sending money from a US bank to Australia through Wise. Again, sending money for purchases (AirBnB) and to individuals and not banks.
I have send to individual's bank account from Indonesia to Australia. They asked BSB code, that is some kind of code for local banks.

However, I am recently receiving payment by wize from Colombia and they need 3 working days to send USD to Indonesia (they have sent notice for that)-the funds should come tomorrow hopefully.
 
Thanks. This is for purchases or sending money to individuals. I don't trust Plaid as it allows access to my accounts by a third party which seems risky.

Plaid is one of a world leading open banking platform. Another one is TrueLayer.

As I understand it, when you use an open banking service like Plaid, TrueLayer, what you are actually doing is to give permission to the service to access your bank account information. It does not save your details. This information is then passed securely to the service via APIs.

It is understandable to worry about your detail when you use it for the first time. But whether you like it or not, it is the future of Banking. The Banking system will be moving to the direction of open Banking Platform to allow instant transfer between accounts. Also it is preferable by the government as it is much easier for them to detect money laundry when all of your transaction stay in one platform. So get ready for it, embrace it.
 
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Plaid is one of a world leading open banking platform. Another one is TrueLayer.

As I understand it, when you use an open banking service like Plaid, TrueLayer, what you are actually doing is to give permission to the service to access your bank account information. It does not save your details. This information is then passed securely to the service via APIs.

It is understandable to worry about your detail when you use it for the first time. But whether you like it or not, it is the future of Banking. The Banking system will be moving to the direction of open Banking Platform to allow instant transfer between accounts. Also it is preferable by the government as it is much easier for them to detect money laundry when all of your transaction stay in one platform. So get ready for it, embrace it.

Come back here in 12 months and let's see
 
Come back here in 12 months and let's see
Ha haa. What is the time frame of the future of Banking System. Is it twelve months ??? This is the first time I hear about this. Would love to be entertained further...

Bank Indonesia (BI). the Indonesian central bank launched the National Open API Payment Standard (SNAP), which provides a standard for the implementation of open APIs among all players in the financial industry in October 2021. How many Indonesian Banks have started adapting it ?? In Indonesia, many banks do not even start their adoption how come you are expecting to be widely used in twelve month ??

Plaid was launched in the US in 2013. TrueLayer was launched in the UK in 2016. The open banking regulations were then passed by the regulator in 2018 marking the official recognition of the system.
Nowadays 2023 majority of Banks, many of major Investment Platforms, payment systems have not even adapted their systems.
 
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Now you're not so confident?
Not so confident about what. I said it is the future of Banking System. Whether you like it or not you will need to be comfortable to give permission to the service implementing the system to access your bank account information. Although they are not allowed to save your details. It is the future of Banking System.

You unilaterally define the time frame of 12 months. It has never been in the history an integration of new system to be widely used within that time frame.

But the direction is clear even in Indonesia by the launching of National Open API Payment Standard (SNAP), marking the pavement of an open banking system. Those banks, financial institution who do not want to head to that direction will be left behind.
 
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You seem so sure about this being the future of banking so I said ok come back in 12 months and give us an update
I remember years ago people saying blockchain and bitcoin was the future
Haven't seen much progress there?
 
Being a techie, what pains me about Plaid is that... a proper authentication system like OpenID and OAuth2 would not force you to trust the third party with your actual credentials. You should have gotten redirected to the site where you use your credentials, asked to log in, and then confirm that you want to grant certain access rights -- by your own institutions. Sometimes even whether you want to set an expiration.

But yeah banks want to go all Web 2.0 (to be fair they are not trying Web 3.0 / blockchain / crypto bla bla) while shoehorning it on top of ancient COBOL code running on mainframes ;)

You don't get fired for buying IBM, indeed, as they say.
 
I have sent money from Indonesia to Australia by Wize, directly to the bank. The only things asked was the BSB code. Money came fast.
We know Wise delivery is fast. This thread is about customer service which is dreadful. I am not getting help for a problem so was looking at alternatives to Wise.
 
A few moments ago I was going through notes and found scribbled on the back a password. I then used one of the former email addresses tried the password for Wise.... and lo and behold.... access. I had been trying a number of alternative transfer companies but being in Indonesia made registration nigh impossible. Thought I would have to do a bank transfer when I got back. Westpac charge $32 for an international transfer and one finishes up with a very poor exchange rate.

So a great weight lifted.Phew! But no thanks to Wise customer "support."
1691044470635.png
 
My friend in Manila just called. Urgently needed $5000 tomorrow

BCA 14.32pm. Sent $5000 to her HSBC account in KL (there is 15.32pm)
Clicked same day value 30,000rp
$25 for full amount
Fee itself only 35,000rp

14.47pm she calls me. She just checked her HSBC Malaysia. Money already arrived

My rate 15205 rp to $


Tanggal : 03/08/2023
Jam : 14:30:12
Jenis Transaksi : TRANSFER VALAS KE REKENING BANK LAIN
Nomor PPU : AISGY
Informasi Pengirim

Nomor Rekening Pengirim
:

Mata Uang Rekening Pengirim
: IDR

Nama Rekening Pengirim
:
Informasi Penerima

Nomor Rekening Penerima
:

Mata Uang Rekening Penerima
: USD

Nama Rekening Penerima
:
Nama Bank : HSBC AMANAH MALAYSIA BERHAD
Kode Bank : HMABMYKLXXX
Negara : MALAYSIA
Nominal Transfer : USD 5000
Biaya Full Amount : USD 25.00
Biaya Provisi in Lieu : -
Biaya Value Date : IDR 30000.00
Biaya Teleks : IDR 35000.00
Kurs : 15205.00
Berita : -
: FROM S
Jenis Transfer : SEKARANG
No. Referensi : DE6F1CF6-0C9C-1140-BB20-79840A5
Status : BERHASIL


Safe. Secure. Fast. Decent rate. End of story. Done from my phone.
 
Thank you to the many respondents when I enquired about alternatives to Skype.
1691053120654.png
 
My Indonesian wife wants to transfer a substantial amount of funds to our children in the UK. Are there limits to the amount of foreign currency you can buy and send?
 
My Indonesian wife wants to transfer a substantial amount of funds to our children in the UK. Are there limits to the amount of foreign currency you can buy and send?
Buy?
 
I am not quite sure why do not you just use a Creditcard for Payment to AirBnB directly via Airbnb's online system? It is unsafe to provide credit card or bank details to the party you do not know well. Also, it will depend on the country where the creditcard is issued; Typically you will get extra protection by paying using creditcard. It is even better if you have a zero fee for foreign transaction credit card. Have you tried it ??

I have not tried it recently but for payment to individual (assuming a relatively small amount) could you not just use pay pal, it is typically instant, assuming a relatively small amount and the other said has a PayPal account as well) ??

Have you tried these methods and compare the result with Wise ??
I could indeed use a credit card to pay for AirBnb's, I just have never done it, so maybe just a habit I have. Other problems with using a US credit card is overseas transactions and currency conversion fees. I have also found Wise provides typically better exchange rates than most banks. The Plaid system seems to be used in many places in Australia so one would assume it's a vetted system and Australia tends to be sticklers on vetting IMO (6 years working in Australia). It's an added layer of security for purchases but for whom.

I'm not a fan of PayPal and still routinely get spam about my PayPal "account" when no account exists.
 
Plaid is one of a world leading open banking platform. Another one is TrueLayer.

As I understand it, when you use an open banking service like Plaid, TrueLayer, what you are actually doing is to give permission to the service to access your bank account information. It does not save your details. This information is then passed securely to the service via APIs.

It is understandable to worry about your detail when you use it for the first time. But whether you like it or not, it is the future of Banking. The Banking system will be moving to the direction of open Banking Platform to allow instant transfer between accounts. Also it is preferable by the government as it is much easier for them to detect money laundry when all of your transaction stay in one platform. So get ready for it, embrace it.
Good to know that Plaid has been vetted for use in Australia. I had never heard of it until a purchase about 4 months ago. Thanks for the info.
 
My Indonesian wife wants to transfer a substantial amount of funds to our children in the UK. Are there limits to the amount of foreign currency you can buy and send?

You can buy up to USD 100k per month without any underlying documents. Above that you will need to show documentation of why the money is needed, such as purchase orders, contracts etc.
 

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