Right, we all know the drill - "buy the seller".

<rant>
So, I've agreed a sale of a fairly spendy BNIB watch with a guy who's an inactive member on here, but quite active on other forums as a dealer. His rep seems very good - lots of trades, lots of people saying how good it was.

But in trying to do a TransferWise wire to him, they ask for other information - like date of birth (so they can do ID verification, supposedly). If the recipient doesn't want to give that info to me, then TW will email them and ask to have the info provided.

Vendor responds to me, with very little detail, "sorry I cannot do that". Why not? "because I cannot"... "nobody else ever ask for this" ... "I have plenty other trades never need this" etc etc.

Anyway, I try another route, and get to the end of the TW transaction and simply get a red banner error saying, "We cannot currently accept payments to this recipient". I called TW support and after a while of digging, they said the (US based) account had a "NOC" flag on it (notification of change), and they couldn't send the wire as a result. It may be because TW appears to be a domestic wire rather than an international one, so maybe he's just given me the wrong routing number of something - best check back with him.

So I went back to the vendor, who just responded by sending me all the same info that he'd given before, telling me he just received 2 international payments from Canada and Singapore without a problem... AAARGGH. Many to-s and fro-s later, and he's now gone all quiet.
</rant>

So, after this rant, I'm very much inclined to have nothing to do with this arsepiece... however he does have such a good rep and the watch is a very good price...

Has anyone else ever had similar issues with TransferWise? Is it so peculiar compared to a regular straight international IBAN type transfer, with all the costs that are associated with the latter...?

 

Evan..if the watch isn't Aldrins or similar rare..why continue to bother with this crap. Go get it elsewhere, convenient, troublefree, reliable and with less organisational overhead

 

I've used transferwise numerous times, both to send and receive, from around the world and never had a problem. They do now ask for extra info but if the seller has nothing to hide this shouldn't be a problem.

 

Never had issues using TW sending/receiving to multiple countries. sounds odd

 

I’ve used TransferWise a lot for sending payments globally, including to the US, from the U.K. It has always been fine, the one exception was when the receiver had Credit Union bank account as those don’t have an IBAN. Otherwise it’s been fine, and as long as you trust the other person, worth it for the rate and fee saving, as well as speed. I always send a nominal amount say $100 first then confirm they have it, then send the balance.

 

As you said, buy the seller. If it's too much trouble for him to get this right, move on...

I needed to have a few back-and-forth exchanges with @Kringkily for instance, as the fields requested by TW didn't align 100% with what he expected for a domestic transfer. He's a helpful seller though and so we got there in the end and he got his cash.

 

I have used ‘TransferWise’……they are slow, but thorough…and their HelpDesk, reacts quickly

The advantage of TW is the preferential rate one pays for the currency conversion

I would suggest shopping elsewhere -Too many ‘red flags’

 

Yes, yes, I know... but it's such a good deal

I think in this instance, TW are trying to use an ACH transfer to a US bank - ie it's originating in USD from another US bank that operates on behalf of TW. It seems the US banking system has different ways of routing money that are lost on a foreigner like me, so I'd expect the seller to do everything to help, rather than be a PITA like this guy.

Onwards!

 

It’s always a “such a good deal”………right up to the point, your money disappears irrevocably,… & forever

 

I tried to send via Transferwise once, and I'm based in Singapore. So many issues and it was just too much of a hassle.

 

Over a certain amount I've had to produce ID and proof of address to send money to myself on a foreign based account. The process is painless and a protection for you. Better this than you money disappears.
If your seller won't provide information then walk away. He's hiding something.

 

I’ve not used TransferWise but I regularly use HiFX which has been fine. Perhaps try them?

 

Let's see the watch now!

 

Any good seller will work with you to resolve any payment issues. No reason for them not to help the buyer ensure the funds arrive quickly and correctly. If the seller does not want to bother with something as simple as providing correct paymenr details then there are many others who would gladly work with you. Gluck!

 

Unless it's the deal of the decade, I don't think you'll have trouble sourcing that watch from elsewhere for less headache if the seller is being uncooperative/unhelpful with the payment method.

 

Inactive member here you say?

 

“Inactive” can describe myriad scenarios…those on a hiatus…those that have lapsed…those ‘warned off’…and even those banished ?

 

I used TW for the first time just a few weeks ago to send funds to a company in India.The initial verification on my end was quite straightforward. Payments are super easy after that. Fees were a fraction of any other method. It was also the first time the Indian company received funds this way and reacted positively. Win-win.

 

Yes, indeed. I'd just be curious which one applies in this particular situation. Some reasons might be more relevant that others.

Or not.