It generally works great and allows easy and cheap currency conversion. However my account IBAN does not seem to be the same for outgoing transfers as it is for incoming. The account name is also changed to something like “TransferWise Ltd on behalf of …”.
So I’ve understandably received a few disputes about this. They seem to do this for SEPA, and possibly for Faster Payments and other GBP transfers. It would probably make things easier if Bitsquare allowed to list multiple IBANs and account names.
I’m happy to provide any more info or help test things.
@Marc Can you have a look? @valankar Thanks for bringing that up. I got quite a few disputes with that and seems more and more people are using 3rd party payment methods. Could you try to ask at Transferwise if there is a way how they assign you a fixed sending account? Better not mention BTC they might be hostile to BTC as its a competition to their remittance business…
I looked into Transferwise a year ago. I think they fullfilled our needs and I would have loved to add them mainly for giggles because they made some harsh anti-bitcoin statements. How would they know about faciliating Bitsquare trades
Some other stuff to do came along and we had other priorities
Didn’t know about them doing SEPA, Faster payments and so on. I’ll check that again but it might be monday or something.
Just to followup, TransferWise indeed uses a different accounts for outgoing and incoming. PM me for details if needed.
I get around this by having 2 different accounts setup in Bisq: one for send, one for receive. I just have to remember to select the right one depending on a buy or sell offer.
@valankar, how have you found out the IBANs of the 2 accounts associated with a borderless account?
Which one is the one that is shown in transferwise?
Thanks in advance for your response
The account shown in your Borderless account is for receiving funds. When you send funds, you will get access to a Transfer Confirmation PDF. In that PDF there is a section on “Paid out from” which will have a outgoing name such as “TransferWise Ltd on behalf of …” as well as the bank details.
I found out the hard way after some Bisq trades went to arbitrator. I’m happy to PM you the outgoing bank details they use for EUR and GBP.
Hi- I am in a similar situation. Can you confirm that the outgoing Estonia bank details that appear on the Transferwise’s alternate sending Bank (Estonia I believe) are unique to each account holder ?
Presumably you been successful in avoiding any issues by using the two different IBANs for buying & selling?
When I asked why, they said they will choose the most optimum outgoing account for speed. So I think this will continue to pose problems for Bisq unless we can specify multiple source accounts or be able to change the funding source mid-trade. Perhaps the latter would make sense?
Would appreciate if anyone works on a concept how we can support TransferWise. That work would qualify for earning BSQ with a compensation request.
Just added a bounty issue at Github: https://github.com/bisq-network/exchange/issues/1250
Hello guys, I am in a bit of a pinch. I sent money to a polish bank using transferwise, but now i realized i have to send it to a different bank account. The recipient bank says they already have rejected the funds i sent them, so i should get them back, but its already been a week. I contacted transferwise and they say they don’t know how long it will take to get the refund. Has anyone had a refund from a rejected transferwise exchange? Anybody know how long it takes?
Hi, I’m not sure you’ll find help here. Maybe on a Transferwise forum? Bisq also has a Keybase Team that is more active maybe you’d want to try your chances there?
