I have been only using it a few months, but almost every time it takes 2 days. Only once has it been shorter. I am sending roughly 2k at a time for some projects we are getting done. Does it get better over time?
Not over time, I send to a factory in Bangkok have been for about two years, transfer almost weekly, Always a few days, always the best rate.
TransferWise send the money almost immediately. Depends on the receiving bank how long it will take to arrive.
TIP: If you see a good exchange rate with Transferwise on a Saturday (perhaps from late Friday even) then START the process but don't transfer the money from your bank account. You will have until early Tuesday to complete at THAT rate. Then look at the rate on Monday - if it significantly improves, cancel your original transaction and do a new one. If it is the same or lower then continue with your original transaction by transferring the money from your bank account. This is more useful to those who have currencies at home which are a bit volatile (like the British Pound).
It seems to me it takes longer for them to get the money from my account than it does to receive it in my wife's BDO peso account.But maybe just my imagination and anxiousness to get it there.
If you get the TransferWise app on your phone and use that it shows you the transaction progress - normally about 10 minutes and off to your bank. Tip though, you have to close the app down and reopen to refresh it to see the updates.
I think what you are saying is; Transferwise gives a guaranteed rate for 24hrs from the start of a transaction? but you must pay them within these 24hrs to get that rate even though it may drop off during that time.
