Krungsri Bank Report

[Nyezhov]

I had previously opened a FRBA (Foreign Resident bank Account) using a SETV and lease. I was given a Visa Debit Card that was only good for ATM withdrawels, no ability to update a passbook on a machine, no ability to make ATM deposits, no internet banking.

 

Today I went to my Branch (Mquartier) and using my 90 day Retirement Extension and my TM30 receipt, was allowed to close that account and open a new one with a real Visa card that can be used on the net and merchant swiping etc, Internet banking and full use of the machines. I was charged 300 baht for the new card. but refunded 225 Baht on the old one.

 

I had previously done a Transferwise transfer. It DOES NOT show as a transfer in from a Foreign bank. I hope I can figure a a way around this.

[KittenKong]

You would have had the same issues had you opened an FCD with Krungsri.

Non-resident accounts do not come with ATM cards that can be used as debit cards, nor do you have any of the other facilities that you mention. For those you need a resident account (ie a normal savings account or MTD account). If you pick a helpful branch you dont need any sort of extension or long visa to open one. A friend of mine opened an FCD account and an MTD account recently with just a 30-day visa waiver entry. Another branch told him it was impossible.

 

Transferwise transfers do not show as coming from abroad because they dont: they originate from Transferwise's Thai bank and so are local transfers. I doubt that there is anything that you can do about that.

[HampiK]

8 minutes ago, KittenKong said:

Transferwise transfers do not show as coming from abroad because they dont: they originate from Transferwise's Thai bank and so are local transfers. I doubt that there is anything that you can do about that.

I read in another thread, that a user from Bangkok Bank can see in the bank book that it's an international transfer from Transerwise. But I think there was comments from many other users that this probably is the only bank who show this in the bank book….

[chickenslegs]

14 minutes ago, KittenKong said:

Transferwise transfers do not show as coming from abroad because they dont: they originate from Transferwise's Thai bank and so are local transfers. I doubt that there is anything that you can do about that.

All my Transferwise transfers from UK are shown in my Bangkok Bank book as FTT, which I believe is Foreign Telegraphic Transfer.

 

 

[Nyezhov]

7 minutes ago, HampiK said:

I read in another thread, that a user from Bangkok Bank can see in the bank book that it's an international transfer from Transerwise. But I think there was comments from many other users that this probably is the only bank who show this in the bank book….

Well I just looked at my statement and it shows as a "TD". I assume that means Transfer Domestic....

[chickenslegs]

19 minutes ago, Nyezhov said:

Well I just looked at my statement and it shows as a "TD". I assume that means Transfer Domestic....

Maybe transfers from different countries show differently. My transfers are from the UK and always show as FTT.

 

Edit: Sorry, just realised we are talking about different Thai banks.

Edited November 8, 2018 by chickenslegs

[Pib]

I have both Bangkok Bank and Krungsri Bank accounts.  I have done 5 Transferwise transfers to my Bangkok Bank account and all 5 have been coded as FTT which means Foreign Telegraphic Transfer along with a Description of International Transfer.

 

I've only done 1 Transferwise transfer to my Krungsri account and it was coded as TN and Krungsri uses a Reference Number for a Description instead of words....that Reference number was just a 10 digit number which I'm pretty sure was a Transferwise generated number contained within the transfer coding. 

 

Just this afternoon/8 Nov I called the Krungsri main help number and asked what did the TN code mean?  The answer was "Transfer Deposit No Book" with Book meaning Passbook.    I then asked what would be the transaction code for a "domestic" transfer be...would it be different?  The Krungsri Call Center said no, it would still be coded TN.   

 

I then decided to do a real world test by transferring Bt100 from my Bankgok Bank account to my Krungsri Bank account so see what code and description occurred for that domestic transfer.  The result was a code of TN and for the Description (well, actually Reference Number) was a 10 digit number which was probably the Bangkok Bank number contained within the transfer coding.

 

All banks use different coding and descriptions to display/record transactions.  There is a lot of transaction coding in every transfer, but all of it will not be displayed to the customer and the bank also uses some of its own unique in-house coding/descriptions.  Heck, KrungThai Bank uses 5 digit codes. 

 

If a person needs/wants their Transferwise transfers to reflect as international transfers in their passbook/ibanking statements, well, from my experience and several other posters also using Bangkok Bank to receive Transferwise transfers then Bangkok Bank is the one to use.

Edited November 8, 2018 by Pib

[Moonlover]

1 hour ago, HampiK said:

1 hour ago, KittenKong said:

Transferwise transfers do not show as coming from abroad because they dont: they originate from Transferwise's Thai bank and so are local transfers. I doubt that there is anything that you can do about that.

 

1 hour ago, HampiK said:

I read in another thread, that a user from Bangkok Bank can see in the bank book that it's an international transfer from Transerwise. But I think there was comments from many other users that this probably is the only bank who show this in the bank book….

The most likely explanation for this apparent anomaly is that TransferWise use Bangkok Bank as the local distribution point. That is apparent If you take a look at bottom of a T/W transfer confirmation slip.

 

So it's possible that a transfer to a Bangkok Bank account bypasses the usual distribution route and shows up as coming directly from abroad.

[Pib]

29 minutes ago, Moonlover said:

 

The most likely explanation for this apparent anomaly is that TransferWise use Bangkok Bank as the local distribution point. That is apparent If you take a look at bottom of a T/W transfer confirmation slip.

 

Can you expand on above?  Exactly how can you tell from looking at the TW transfer slip/receipt they are using Bangkok bank?  What wording are you talking about?  Maybe you can provide a snapshot (redacted if necessary) of what you are seeing on the TW slip.  Thanks.

[Moonlover]

8 minutes ago, Pib said:

33 minutes ago, Moonlover said:

 

The most likely explanation for this apparent anomaly is that TransferWise use Bangkok Bank as the local distribution point. That is apparent If you take a look at bottom of a T/W transfer confirmation slip.

 

8 minutes ago, Pib said:

Can you expand on above?  Exactly how can you tell from looking at the TW transfer slip/receipt they are using Bangkok bank?  What wording are you talking about?  Maybe you can provide a snapshot (redacted if necessary) of what you are seeing on the TW slip.  Thanks.

You can do it yourself quite easily. Go to your T/W account, click on any transfer and then click 'view transfer details'.

 

A sub window opens and on there you can then click 'Get PDF Receipt'. A new PDF window opens and you can then scroll down to the bottom of that window to view 'Paid out from'.

 

If you get stuck, give me a shout. 

[Nyezhov]

17 minutes ago, Moonlover said:

 

You can do it yourself quite easily. Go to your T/W account, click on any transfer and then click 'view transfer details'.

 

A sub window opens and on there you can then click 'Get PDF Receipt'. A new PDF window opens and you can then scroll down to the bottom of that window to view 'Paid out from'.

 

If you get stuck, give me a shout. 

Yep. Shows bangkok bank as the transfer point. Looks like a paper trail can be established

[Pib]

32 minutes ago, Moonlover said:

 

You can do it yourself quite easily. Go to your T/W account, click on any transfer and then click 'view transfer details'.

 

A sub window opens and on there you can then click 'Get PDF Receipt'. A new PDF window opens and you can then scroll down to the bottom of that window to view 'Paid out from'.

 

If you get stuck, give me a shout. 

 

Well, aint' that interesting.  Good info.

 

Earlier I mentioned I had done 5 transfers to Bangkok Bank....only 3 of the 5 receipts have a "Paid Out From" entry on the receipt.  I had seen that area before but apparently just glossed over it thinking it was my Bangkok Bank account they were talking about....plus the 2 other transfers don't have a Paid Out From entry.   But the 3 that do, they show it was paid out of a Transferwise acct at Bangkok Bank on my behalf to my account also Bangkok Bank....basically an "internal" bank transfer. 

 

However the one transfer I did to my Krungsri Bank acct shows shows a TMB to Krungsri transfer, which would be an external transfer.  That's the transfer that shows up on my Krungsri passbook just like its a domestic transfer (which it was) with no coding that the funds were imported.

 

See snapshots below, but before you do I need to say that Transferwise PDF receipts are really plain-jane docs....could be easily created on a computer with basic editing software...could be faked easily.  If a person only, repeat, only had the Transferwise receipts because his Thai bank passbook wasn't coded receiving an international transfer like the one Transferwise transfer that went to my Krungsri account, then I doubt TI would accept that as being imported funds. 

 

Now, if TI wanted to accept such docs then that's great....but I'm not so sure TI is going to want to deal with the myriad of possible docs that supposedly prove funds were imported. I figure they will follow the KISS principle and will want a doc from a Thai bank as proof like the passbook showing imported funds coding/description.  

 

Snapshots:

Transfer to my Bangkok Bank acct shows it come from a Transferwise acct

on my behalf also at Bangkok Bank.  So, it was just an internal Bangkok Bank transfer.

 

Transfer to my Krungsri Bank account....shows it came from a Transferwise acct

on my behalf at TMB.  So, it was a TMB to Krungsri transfer..

[KittenKong]

3 hours ago, Moonlover said:

The most likely explanation for this apparent anomaly is that TransferWise use Bangkok Bank as the local distribution point.

Seems likely to me. They are clearly an exception amongst other Thai banks.

[bravo19]

All my Transferwise transfers from UK are shown in my Bangkok Bank book as FTT, which I believe is Foreign Telegraphic Transfer.
 
 

Absolut right! Same in my passbook as well


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[Moonlover]

I reckon that all of you who are following this thread can see the implications regarding the demise of the embassy letters.

 

In the future, those of us who rely on monthly incomes will have to present our own evidence of income, presumably from abroad.

 

Using TransferWise one can present their transfer slip, linked to a bank deposit entry and prove beyond any doubt that the funds are indeed coming from abroad. It would take a pretty sceptical IO to reject such evidence. In fact it is better evidence that the embassy letters. (and 52 GBP cheaper!)

 

I have already geared up for this by opening a new folder in which I am saving all my T/W transfer slips and their related bank statements downloaded from Krungsri.

 

I am not in the least bit concerned about the loss of the income letter.

 

Have a good day everyone.

 

ML

[Nyezhov]

3 minutes ago, Moonlover said:

I reckon that all of you who are following this thread can see the implications regarding the demise of the embassy letters.

 

In the future, those of us who rely on monthly incomes will have to present our own evidence of income, presumably from abroad.

 

Using TransferWise one can present their transfer slip, linked to a bank deposit entry and prove beyond any doubt that the funds are indeed coming from abroad. It would take a pretty sceptical IO to reject such evidence. In fact it is better evidence that the embassy letters. (and 52 GBP cheaper!)

 

I have already geared up for this by opening a new folder in which I am saving all my T/W transfer slips and their related bank statements downloaded from Krungsri.

 

I am not in the least bit concerned about the loss of the income letter.

 

Have a good day everyone.

 

ML

Yep. I downloaded my originating bank statement, TW slip, and Krungsri bank statement, highlight and show withdrawel, transfer and deposit.

[Pib]

2 hours ago, Moonlover said:

I reckon that all of you who are following this thread can see the implications regarding the demise of the embassy letters.

 

In the future, those of us who rely on monthly incomes will have to present our own evidence of income, presumably from abroad.

 

Using TransferWise one can present their transfer slip, linked to a bank deposit entry and prove beyond any doubt that the funds are indeed coming from abroad. It would take a pretty sceptical IO to reject such evidence. In fact it is better evidence that the embassy letters. (and 52 GBP cheaper!)

 

I have already geared up for this by opening a new folder in which I am saving all my T/W transfer slips and their related bank statements downloaded from Krungsri.

 

I am not in the least bit concerned about the loss of the income letter.

 

Have a good day everyone.

 

ML

I hope the Phuket IO is not your IO.  As you will see in below post(s) right now if you are a UK/US/AU person wanting to use the embassy letter monthly income method you must provide supporting "government" pension docs also and apparently only certain types of government pensions qualify as they say a military pension is not accepted....although a military pension is indeed a govt pension....just as rock solid as a social security pension or numerous other types of govt pensions that Uncle Sam pays.  

 

And since it says "only" govt pensions will be accepted that means/implies "civilian" pensions, IRA/401K distributions, monthly transfers, etc.., would not be accepted.  

 

Keep in mind this is Phuket IO which is well known for being a pain...implementing rules differently.  But what if the rule they are now implementing for the monthly income method of UK/US/AU folks eventually spreads/turns out to be the rule for all offices and all nationalities.

 

 

 

 

[Thaidream]

17 hours ago, Pib said:

I have both Bangkok Bank and Krungsri Bank accounts.  I have done 5 Transferwise transfers to my Bangkok Bank account and all 5 have been coded as FTT which means Foreign Telegraphic Transfer along with a Description of International Transfer.

It sounds to me if one wants to use Transfer wise- the only bank where it will show  as a foreign transfer is Bangkok Bank.  

 

If I use any other bank in Thailand- I would use a SWIFT transfer/

 

If the Io won't accept my method of using a foreign ATM card to get  65K per month and then deposit it in a Thai Bank  with proof of my foreign aTM card why would anyone think they will accept all the sundry documentation to prove transfer wise was a foreign transfer?  While I think they should accept both ways- will they and if they won't a more expensive SWIFT transfer becomes the norm unless everyone switches to Bangkok Bank.

[Pib]

Will have to wait and see.  If they end up only accepting certain types of government pensions Transferwise, SWIFT, ACH, ATM docs will not mean nothing...will not be accepted.    

[KittenKong]

43 minutes ago, Pib said:

Will have to wait and see.  If they end up only accepting certain types of government pensions Transferwise, SWIFT, ACH, ATM docs will not mean nothing...will not be accepted.    

The nature of the income has never been an issue, as far as I know. The only requirement is that it has to be at least 800kB over the year.

[Moonlover]

1 hour ago, Pib said:

I hope the Phuket IO is not your IO.  As you will see in below post(s) right now if you are a UK/US/AU person wanting to use the embassy letter monthly income method you must provide supporting "government" pension docs also and apparently only certain types of government pensions qualify as they say a military pension is not accepted....although a military pension is indeed a govt pension....just as rock solid as a social security pension or numerous other types of govt pensions that Uncle Sam pays.  

 

And since it says "only" govt pensions will be accepted that means/implies "civilian" pensions, IRA/401K distributions, monthly transfers, etc.., would not be accepted.  

 

Keep in mind this is Phuket IO which is well known for being a pain...implementing rules differently.  But what if the rule they are now implementing for the monthly income method of UK/US/AU folks eventually spreads/turns out to be the rule for all offices and all nationalities.

 

 

 

 

This is, of course nothing more than pure speculation, culled from another thread that has, currently 169 pages of speculation. Why drag it over here?

 

What's under discussion here are practical steps that income reliant expats can take to maximise their chances of a successful extension request in the post embassy letter era. Please don't complicate the issue with yet more rumours and speculation.

 

 

[Moonlover]

1 hour ago, Thaidream said:

It sounds to me if one wants to use Transfer wise- the only bank where it will show  as a foreign transfer is Bangkok Bank.  

 

If I use any other bank in Thailand- I would use a SWIFT transfer/

 

If the Io won't accept my method of using a foreign ATM card to get  65K per month and then deposit it in a Thai Bank  with proof of my foreign aTM card why would anyone think they will accept all the sundry documentation to prove transfer wise was a foreign transfer?  While I think they should accept both ways- will they and if they won't a more expensive SWIFT transfer becomes the norm unless everyone switches to Bangkok Bank.

I get the impression Thaidream that you haven't read this topic from the beginning. It's only 2 pages long. May I suggest that you go and read from the beginning. It will probably answer all you queries.

[luckyluke]

Transferwise,

 

check " History "

 

It will give you following breakdown :

 

Date

Name customer

Amount transferred In foreign valuta

Costs

Amount received in ThB

 

This can eventually be helpful.

[Thaidream]

1 hour ago, Moonlover said:

I get the impression Thaidream that you haven't read this topic from the beginning. It's only 2 pages long. May I suggest that you go and read from the beginning. It will probably answer all you queries.

Actually  I read everything the first time and just now again- I understand it completely and my doubt is the same- will an IO understand the documents you present from Transfer wise/.

 

If I am forced to  send money every month  via Transfer- I will use Swift because I want no headaches.

 

My main irritation with the whole issue is that Thai Imm has never cared about source of money in the bank-  As I have mentioned before - I can stand outside  my Thai Bank- take out my US Debit card -get 65K and deposit it immediately and prove it was foreign sourced.  Instead- now I use transfer wise, have to wait a day for the money- save all the receipts and then download from the drop down box etc- then I have to take the money out again from my Thai bank- the same money- I could have got by simply using the ATM.

 

Am I the only one who sees how ridiculous all this will become.

[Moonlover]

50 minutes ago, Thaidream said:

Actually  I read everything the first time and just now again- I understand it completely and my doubt is the same- will an IO understand the documents you present from Transfer wise/.

 

If I am forced to  send money every month  via Transfer- I will use Swift because I want no headaches.

 

My main irritation with the whole issue is that Thai Imm has never cared about source of money in the bank-  As I have mentioned before - I can stand outside  my Thai Bank- take out my US Debit card -get 65K and deposit it immediately and prove it was foreign sourced.  Instead- now I use transfer wise, have to wait a day for the money- save all the receipts and then download from the drop down box etc- then I have to take the money out again from my Thai bank- the same money- I could have got by simply using the ATM.

 

Am I the only one who sees how ridiculous all this will become.

My apologies if I misread your message.

 

Actually Thaidream, the truth is we just don't know. erstwhile we relied on the embassy letters and it just didn't matter where our incomes came from or how we got into the  country. As you rightly say Thai Imm were not interested. The letter made it easy for us and easy for them.

 

A best guess is that, if we are going to rely on the monthly income approach, our best bet is to make sure we can show just that. 65/40K per month minimum going into a local bank account.

 

Convenient though it may be, the ATM approach doesn't meet that requirement.

 

From the point of view of poor exchange rates, ATM charges, home country bank charges  and the risk of card fraud, I would not use the ATM method anyway.

 

For me TransferWise ticks all the boxes. Others will have a different view.

 

Let's hope it turns out well for all of us.

 

ML

[KittenKong]

21 hours ago, Moonlover said:

In the future, those of us who rely on monthly incomes will have to present our own evidence of income, presumably from abroad.

There has never been any official need to show that the money (deposit or income) comes from abroad, nor for what the source of it was. It does not have to be a pension. It could, for example, be rental income or company dividends or bank interest. If some local immigration offices are requiring evidence that the money comes from abroad then they are making their own rules up.

[Moonlover]

16 minutes ago, KittenKong said:

There has never been any official need to show that the money (deposit or income) comes from abroad, nor for what the source of it was. It does not have to be a pension. It could, for example, be rental income or company dividends or bank interest. If some local immigration offices are requiring evidence that the money comes from abroad then they are making their own rules up.

I acknowledge and completely agree with what you say. And personally I do not think that there is anything to worry about in the 'post embassy letter' era. (providing that one does have the necessary income of course!)

 

However, making prudent plans to be able to demonstrate that one's income does indeed come from abroad costs little or nothing to set up and could just be useful when making one's application.

 

As you said yourself, Imm offices are well known for applying their own local rules.

 

Enjoy your weekend.

 

ML

Edited November 10, 2018 by Moonlover