usmike
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No FFT transfer Now
The Bank situation is getting worse. I have been unsuccessful in completing a FFT transfer for the last three months. I have used my bank, Wells Fargo and two independeint companies, Transferwise and Xe. Same situation each time, i transfer 65000 baht to Bangkok Bank but somewhere along the line, funds get sent to Kasikorn Bank and they take 500/600 baht off the transfer amount, they then complete the transfer after waiting 5 working days and it is rcorded in the Bangkok Bank as a local funds transfer (Not an FFT). Does not meet Thai immigration money amount nor foreign funds transfer requirement. this means no retirment visa extension. Great Scam they get foreign funds but not recorded as FFT and you lose your visa at renewal time. I questioned the teams at the immigation office and was told not to worry, just pay 20K special fee not need money or paper get 1 year extension.. of course the 800K method is still available if you do not mind putting $25K in the bank for a year.
Time to seek another place to live, haha Big Joke made a real Big Joke.
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I am an American who falls under the new Thai Immigration Rules; I am using the income method. In the past was using my Wells Fargo Bank ATM card to move/ convert US dollars to Thai Baht and deposit into the my Bangkok Bank account. (Yes, I know fees and exchange rate sucks). Since this method does not meet Thai immigration rules; I decided for the month of June to use the bank wire transfer route. What a disaster it turned out to be.
I contacted my Thailand Bank (Bangkok Bank, Jomtien) and they provided the nice card showing the swift code and routing number, all very clear, and they explained the FFT code (Foreign Funds Transfer) that will show next to each transfer.
I then contacted the Wells Fargo Bank and set up the on-line wire transfer system, this “by the way” requires the use of a 4 digit security they send via iPhone messenger to only a USA number only. This number must be inputted into their screen within 30 seconds to move forward on their software; this occurs 4 times. Try doing this from Thailand? I then inputted all of Bangkok Bank swift codes, my account numbers, addresses on USA, addresses in Thailand and then finish up with transfer amount in Thai Baht 65000. The last page confirms the 65000 transfer amount, transfer fee $35.00 and exchange rate, (29.061 THB/USD) Ouch!!!! Arrival date for funds 4 days. I did not like this; but made transfer to meet the New Thai Immigration requirements.
When to the Bangkok Bank to get my transfer recorded in the passbook. Disaster struck!!! The transfer was 451 THB short and the bank code was BTN not FFT. I asked them what happened, and they said the transfer came from Kasikorn Bank in Bangkok so it was not a foreign funds transfer. (I have no account with Kasikorn bank nor was in any documents I provided to Well Fargo. Bangkok Bank Clerk gave me the same blank stare “not my problem, nothing I can do.”
I waited until that night until I could call Wells Fargo Bank in the USA and, after several hours on the phone and talking to different managers and executives. I got the story that they did transfer the full 65000 to Bangkok Bank but was told by BKB to use Kasikorn Bank. Of course this is all of this is Nonsense. I do not have enough evidence yet, but think that Wells Fargo did transfer through Kasikorn Bank who used a rip-off exchange rate and took a handling fee and they transferred the THB balance to my Bangkok Bank account.
Final result: nobody takes responsibly all done on line. The transfer does not meet the 65000 THB monthly amount and the transfer is not a FFT transfer as required by Immigration since it was an internal Thai Baht transfer; in other words; in Thai Immigration’s eyes, no transfer made this month; so no retirement visa extended.
In reality Kasikorn Bank scammed Wells Fargo Bank which ripped me off on an extremely bad exchange rate and handling fee and prevented Bangkok Bank from getting the foreign currency.
As for me, I am getting ready to leave Thailand when my Retirement Visa is not extended in October.
Anyone else have this experience???
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All Thai citizens should take extreme care in visiting South Korea !!!!!!!. You will be denied entry at the Airport, and wasted the $500.00 USD KAL air ticket cost from Bangkok to Pusan.
I am an American citizen legally in South Korea on a 3 month tourist visa. I invited my Thai girlfriend to join me in Busan to take some tours. The first time she arrived she was denied entry, they said she did not have enough proof of why she wanted to visit. The second time she came back to Busan, she had all written proof of the following: proof of the tour, proof of paid room from the hotel, round trip air ticket and a guarantee letter from me, that I would cover all her costs. She was denied entry again. This time i was able to speak to the officials and they said “We do not believe anything a Thai person says. Even with documents they do not trust what is presented.” They then state I could not serve as a grantee since i do not live there.
There were 20 Thai people that were denied entry on that flight and all were returned to Thailand.
I checked with the South Korean Embassy in Bangkok about getting a visa issues in Thailand and was told that I must get the visa on arrival in Korea.
Basically this whole business is a scam. They do not want Thai people to come into their country. Officials claim Thai citizens do illegal things in Korea and will overstay their visas.
They use the “visa on arrival” as a scam to get you to purchase round trip tickets from Korea Air Lines. They use the round trip airline ticket to return you home.
I am now out over $1,000.00 USD in air ticket costs and time; and my girlfriend out days to traveling to Korea for no purpose.
Why is the Thailand government allowing this to happen; thousands of Thai nationals are being disrespected.
Do not visit South Korea. Complain to the Korean Embassy and get the Thai government to protest to the South Korean government. Make people aware of this injustice.
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All Thai citizens should take extreme care in visiting South Korea !!!!!!!. You will be denied entry at the Airport, and wasted the $500.00 USD KAL air ticket cost from Bangkok to Pusan.
I am an American citizen legally in South Korea on a 3 month tourist visa. I invited my Thai girlfriend to join me in Busan to take some tours. The first time she arrived she was denied entry, they said she did not have enough proof of why she wanted to visit. The second time she came back to Busan, she had all written proof of the following: proof of the tour, proof of paid room from the hotel, round trip air ticket and a guarantee letter from me, that I would cover all her costs. She was denied entry again. This time i was able to speak to the officials and they said “We do not believe anything a Thai person says. Even with documents they do not trust what is presented.” They then state I could not serve as a grantee since i do not live there.
There were 20 Thai people that were denied entry on that flight and all were returned to Thailand.
I checked with the South Korean Embassy in Bangkok about getting a visa issues in Thailand and was told that I must get the visa on arrival in Korea.
Basically this whole business is a scam. They do not want Thai people to come into their country. Officials claim Thai citizens do illegal things in Korea and will overstay their visas.
They use the “visa on arrival” as a scam to get you to purchase round trip tickets from Korea Air Lines. They use the round trip airline ticket to return you home.
I am now out over $1,000.00 USD in air ticket costs and time; and my girlfriend out days to traveling to Korea for no purpose.
Why is the Thailand government allowing this to happen; thousands of Thai nationals are being disrespected.
Do not visit South Korea. Complain to the Korean Embassy and get the Thai government to protest to the South Korean government. Make people aware of this injustice.
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Money Transfer into Thailand
in Jobs, Economy, Banking, Business, Investments
Posted
Western Union cancels Money transfers to Thailand from USA!!! Says transfer to Thailand too High Risk; What is happening in Thailand??
I like many of the retired expats in the Kingdom are trying to deal with the Immigration Departments new rules and regulations for the monthly income transfer of 65,000 Baht into Bangkok Bank as a FFT (Foreign Fund Transfer). I have been unsuccessful the past three months. The transfers, winds up going through some unknown 3rd party Thai Bank that takes a 500 baht fee which is deducted from the transfer amount and arrives 7 days later as a local currency transfer. It is late, wrong amount and not recorded as a FFT transfer. I have tried banks, and transfer companies all with the same nonsense. At first I thought it was my mistake and I was extremely careful in making the next transfers. I now realize that I will lose my retirement visa as the transfer do not meet Immigration standards. Now I tried to transfer money into Thailand by Western Union as we all have done before. I did the first transfer on line, it was completed and a TCN number was issued; within 10 minutes I get notified that the transfer is placed on hold and to call WU to provide additional information. I called them and was questioned about who I was sending the funds to; how long we knew each other, etc. I was placed on hold and they come back saying they cancelled the transfer as it was too high risk for WU to transfer into Thailand. The next day I go to their agent in person made the same transfer in cash, I get TCN # and then same thing happens everything put on hold same questions and same result transfer cancelled as it was too high risk for WU to transfer into Thailand now. All this is very scripted. This is not just my individual transaction but a standard scripted WU response.
I cannot help but think something is going on. Just my observation.