• TransferWise vs bunq time frame

When I’m using the TransferWise app to send CNY, its estimated that the funds should reach the recipients account in a 1 hour time frame.

When using the bunq app to send CNY, bunq expects the funds to reach the recipients account 5 days later on December 29 !?

Why does bunq not show the exact same information as TransferWise? I have send CNY dozens of times and it never took longer than 20 minutes for the funds to reach my account (even with holidays).

Thanks! 🙏

    @RaymonK#51398 I guess bunq is taking the holidays in consideration. Today is Sunday. Tomorrow is Christmas, then two national holidays in many countries. So your transfer will probably only be processed on the 27. so you can expect it to be done on 28.

    My main bank messaged me that last day transactions will take place this year will be on 27/28/29. So I guess it’s a standard time frame.

      I get that but the transaction will go through transferwise, which means bunq should show the exact same info as them. Right?

        @RaymonK#51428 Well theoretically it should. But I don’t know how transferwise is receiving your money from bunq. Is it being taken from your MasterCard? Or is it being handled like a wire transfer? If the later then it totally makes sense that bunq is showing a longer time frame since it just takes the said amount of days for your transfer to be processed.

        Transferwise always shows the fastest way when topping up with your credit/debit card or Apple Pay. The slow transfer with topping up via wire transfer usually takes around 5 days. So maybe bunq is using the „slow way“ for information.

          I just sent a payment in CNY through the bunq app. According to bunq the funds should arrive on December 29, TransferWise says within the next few hours.

          Let’s find out if bunq is providing the right info or TransferWise.

            @RaymonK#51428 So i checked and its exactly like i told you. Fast transfer 24.12 and slow transfer 29.12.

            Fast transfer is with credit debit card and slow is the cheap transfer with wire transfer.

              @RaymonK#51432 As my screenshots show bunq is pulling the information from transferwise. Bunq is as it appears handling transferwise transactions as „slow/cheap wired transactions“. Therefore you should expect your money to arrive on 29.12.

              If you want to have fast transfers you need to make the payment directly at transferwise and pay the extra fee for debit/credit card payment. If you use an iPhone it’s very handy since you can simply pay with Apple Pay. Not much of a difference between bunq app or transferwise app but you get the faster option.

                Hi Tobias, thanks for the info. I guess I thought I already had the slow way option selected while using the TransferWise app (sorry for that).

                Normally I always sent CNY the slow way because in both ways the funds always arrive within 30 minutes (in my experience).

                Anway, the conclusion is that bunq provides the same info as TransferWise which means bunq can't be blamed if the expected time of arrival is incorrect.

                Thanks for all the help! Cheers

                  @RaymonK#51437 Your welcome. Glad that i could help. 😅✌️

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