Reply to a question/comment on another thread. I thought maybe it would be better here.
If RapAdmin wants to move it, feel free.
I honestly don’t know what is going on at Wise. I had problems, then I didn’t. The last two transfers to Jagdish went smoothly using ACH transfers of dollars to INR.
A brief tutorial as I see it, and I am no expert:
I normally like to use bank ACH transfers as it is cheaper than a wire or SWIFT transfer and faster than a SWIFT transfer.
For whatever reason, Wise, and I don’t know that it’s their fault, will not do an ACH transfer dollar to dollar. Therefore I use the daily published Dollar to INR exchange rate to determine how much INR Jagdish is to receive. I add to that the amount Wise charges for ACH transfers. In this case, it was $1.45
You can also see from the transactions below that ACH transfers, and unlike SWIFT, it is actually swifter.
If this does not work for you, you can use Wise to transfer dollar to dollar, which I have used a few times when ACH transfers using Wise were not working.
If you use Wise to transfer dollar to dollar using SWIFT the fees will be higher.
In the dollar-to-dollar example below I sent a dollar-to-dollar transfer to Shivnaam Tradelink LLP using Wise which used SWIFT to transfer the money. As you can see the fee for approximately the same amount was $15.60 using SWIFT vs $1.45 for an ACH transfer and is two days slower.
Bottom line try ACH transfers first and if that doesn’t work use a SWIFT dollar-to-dollar transfer.
I know this may seem somewhat confusing, but in actual practice, it is easy after the first time.
