Any Wise.com (Formerly Transferwise) experts on here?

[geeman237]

Are there any Wise.com users who would consider themselves 'experts' on using it?
I have an account and have used it several times to send money to/from my US and UK bank accounts, up to around 20k GBP.

I have my US and UK bank accounts linked correctly to my Wise account. As I understand it I request the transfer, Wise debits my chosen source account, then Wise processes the exchange and deposits to my nominated destination account.

I usually transfer US$ to GBP Sterling and let Wise to the exchange rate bit. The reason for using Wise is the exchange costs are usually cheaper than using my bank directly to do a wire transfer. In fact I was put onto Wise by this forum a few years ago.

Now, one problem is, it seems my UK account has set a 3k GBP monthly limit on Wise, but what if I am looking to want to transfer approx. 100k GBP to US$?. I've written to Wise asking if this limit can be lifted or raised and am awaiting a response.

As this might be a large transfer from my UK bank account to my US bank account, maybe there are some hints and tips someone could advise.

Feel free to PM if necessary.

[dingg]

Tell your bank that you need the restriction lifted.

Had a similar issue with santander, a limit on all transfers was imposed automatically, a few clicks of the mouse and a few security checks and I was able to lift the limits without too much trouble.

[Marcellus]

You’ll probably have to answer some anti money laundering questions, but that’s really only so that they can show they’re paying attention and doesn’t really delay anything.

[YorkshireStu]

As above, the issue is that your UK bank has imposed a cap. Call them to remove it.

I’ve had this too when increasing transfer sizes on my personal account.
I had always just used my Wise business account and it was fine but when I wanted to move larger amounts via my personal Wise account my UK bank wanted to go through a bunch of boring security checks first to unlock the low cap.