News Product update

New! Instant transfers to Thailand, Pakistan, and Sri Lanka are live now 🎉

Abhishek Choudhari (Abhi)

08.04.20 (updated more than 1 year ago)

Read time 2 minutes

At Wise, we put our customers first. That means really listening to feedback on how we can do better. Really.

So when you told us transfers should be quicker — we made it happen.

In the past, if you were sending money to Thailand (THB), Pakistan (PKR), or Sri Lanka (LKR) it could take hours to arrive. But now, recipients can receive THB, PKR or LKR instantly — that’s within 20 seconds. And sometimes payments are even quicker. So your payments could arrive before you can say 'hidden bank fees'.

It’s our mission to make money transfers instant, convenient, transparent and eventually free. So we’re thrilled to be one step further for those sending money instantly.

How to make your transfer to THB, PKR and LKR instant

Send money instantly to Thailand, Pakistan or Sri Lanka in two easy steps.

Set up a transfer like normal.
💡Tip: Enter your recipient’s name exactly as it appears on their bank account. A mismatch may cause a delay or rejection of your transfer.
Pay for your transfer with an instant payment method.

The speed of your payment method depends on the currency you’re sending from.

Send money from	Instant payment methods
BRL, CAD, HKD, NZD, SGD, USD	Cards
GBP	Bank transfer, cards
AUD	POLi, cards
EUR	SEPA instant enabled banks, SOFORT, cards

If you’re sending from another currency and pay using a card or your existing Wise balance, your transfers To THB, PKR or LKR will be instant.

Transfers to Thai baht

In Thailand, we linked up with PromptPay. PromptPay lets you easily receive money, using your Citizen ID or mobile phone number instead of a bank account number.
Transfers up to 50,000 baht are paid out using PromptPay and should arrive instantly (between 1am to 7pm Thailand time). We’re working to increase the transfer limit and make it 24/7 over the coming months.
Thanks to PromptPay, 13% of transfers to THB arrive in under 20 seconds. And as more banks in Thailand adopt Promptpay and we increase the limit these numbers will only increase!

Transfers to Pakistani rupee

In Pakistan, we used to have to manually check transfers — it could take 4-6 hours for transfers to get reviewed. But now this is all automated.
So while last year, only 6% of transfers to PKR arrived in an hour, now 36% of transfers arrive within 20 seconds. And 64% are delivered within 1 hour.

Transfers to Sri Lankan rupee

In Sri Lanka, we partnered up with a new local bank that gave us access to CEFTS (Common Electronic Fund Transfer Switch). CEFTS is available 24/ 7 and 365 days a year — this means your transfers can be processed anytime.

Transfers up to 980,000 LKR are now instant. And 52% of all transfers to Sri Lanka arrive in under 20 seconds, with 76% arriving within an hour. One step closer to instant money transfers for everyone.

What’s next?

It’s been an amazing few months for our team in Asia. Not only are transfers to THB, PKR and LKR are now instant, but we lowered our fees to send money to IDR, MYR, PHP, and PKR, transfers to Japan are now instant and you can send money to China instantly using Alipay id. And breathe.

But we still have a long way to go to reach our mission. We’re working hard to bring instant transfers to every corner of the world. So keep your eyes peeled for more currency routes speeding up in the coming months.

For now you can send money instantly to Thailand, Pakistan or Sri Lanka. Happy transferring!

Thank you,
The Wise Team

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This publication is provided for general information purposes and does not constitute legal, tax or other professional advice from Wise Payments Limited or its subsidiaries and its affiliates, and it is not intended as a substitute for obtaining advice from a financial advisor or any other professional.

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