TransferWise to Monzo with IBAN

Hello. I got a question. I transferred from TransferWise using monzo IBAN by mistake. It’s taking ages ( transfer was done Monday october 5th. What do you recommend ? ( I got id #transfer if required. Thank you!

It’ll be returned automatically if it doesn’t work.

Monzo and IBAN transfers don’t get on well. It may eventually come through to you though, if not TransferWise will reverse it.

What balance was it from? Was this from a Euro account or was it from another currency?

I ask because I sent money from TransferWise to Monzo on Tuesday using my IBAN (SEPA). This was from my TransferWise euro balance held in Belgium. TransferWise paid out at 8:44am and it had arrived with Monzo by 12:30pm.

Either way the best thing to do is to contact support in the TransferWise app, they’ll be able to see the status of the transfer and may be able to cancel it.

You are right I forgot to tell that there was a conversion involved . The TransferWise account was in Dollars. Monzo account is in £. I guess tomorrow should be on my monzo account :love_you_gesture:t2:

It looks like TransferWise’s US balances are held by Community Federal Savings Bank. I’ve got no experience transfering USD from TransferWise to Monzo but I really wouldn’t be surprised if it fails.

The money should be returned back to you in a few days but I’d definitely speak to TransferWise to find out what’s going on.

I understand. But maybe I got a chance to get it ( still with long delay ) since I understood that monzo got a partnership with TW :ok_hand:t3: Let’s see!

1 Like

That’s unlikely.
The ‘partership’ with TransferWise is to allow you to send international payments within the Monzo app without needing to directly sign up to or download TransferWise first. It has nothing to do with recieving funds.

Monzo doesn’t officially support recieving money internationally. In short because on the UK side of the business they’re a UK focused bank they’ve made the business decision to not support these yet. That means other banks don’t know how to route money through to Monzo.
From my understanding some banks (mainly European ones) are able to successfully find a route through to Monzo despite the fact that the feature isn’t officially supported. That’s why my TransferWise transfer from my Euro balance (held by Bank of Lithuania) was successful.
Your transfer is from your USD balance and is coming from Community Federal Savings Bank. Even though on the face of it it’s still ‘TeansferWise’, under the hood it’s a different bank providing the service and AFAIK banks in the US find it a lot more difficult to reach UK Monzo accounts.

I know I’ve said it a few times, but you really should contact TransferWise. I’m 95% certain that the money won’t turn up in your Monzo account.

Lets us know the outcome if possible.

hey guys what’s up
Well TransferWise was done Monday morning. Plus it was US dollars to Euro, To my Monzo GPD—Today is Thursd- so I assume It’s not gonna show on my Monzo at all…

1 Like

This topic was automatically closed 180 days after the last reply. New replies are no longer allowed.