bmh Posted December 25, 2018 Report Share Posted December 25, 2018 Thanks for posting this, I did not know about it.. Link to comment Share on other sites More sharing options...
ibbocat Posted December 25, 2018 Report Share Posted December 25, 2018 Had the same problem with a UK check max £1000 but no limit to the number of checks. Exchange rate was much worse than usual so will try "Transfer Wise" much faster and better rates Link to comment Share on other sites More sharing options...
SunshineyDay Posted December 25, 2018 Report Share Posted December 25, 2018 Please report how the transaction thru Transferwise goes. TIA Link to comment Share on other sites More sharing options...
Kiko Posted December 25, 2018 Report Share Posted December 25, 2018 A large transfer thru transferwise will set in place some red flags so you can expect a request for further documentation to verify. This process may take a week or more. With large transfers I do not know the dollar amount threshold that will trigger the review process. In my case I had to provide bank statements and legal documents that confirmed the source of the funds that I had moved from Mexico to the US in September. I also had to provide a current valid foto ID with my US address. My transfer last week was to move the funds from the US to Mexico. This transaction is under review. Also, if you choose to repeatedly cancel TW transactions then you will be locked out after the third cancellation. You must complete the 4th transaction. This is to discourage exchange rate shopping. The rates on the TW site generally fluctuate every 10 to 15 seconds. I have not experienced this but was told that is the policy. They have good customer service. Link to comment Share on other sites More sharing options...
ibbocat Posted December 28, 2018 Report Share Posted December 28, 2018 Used TransferWise yesterday and the money is in my account today. Good exchange rate and a variety of ways to pay from direct bank to bank to PayPal. Bancomer will lose in two ways no exchange fees and will keep a much lower balance in their account Link to comment Share on other sites More sharing options...
Kiko Posted January 1, 2019 Report Share Posted January 1, 2019 To recap, the second funds transfer from Transferwise came thru today after 10 days while they sorted thru the docs I sent them. Christmas holidays slowed it down a bit. The first transfer came thru in 48 hours but the amount was less than 1000 USD. The sticking point with the larger transaction was proof of US residency. Current valid photo ID with address matching US bank account statement required. Driver's license worked for me. Proof of residency was not an issue with the smaller transaction. Great company with good customer service. Link to comment Share on other sites More sharing options...
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