Low cost fund transfers UK > Thai

[colinchaffers]

There has been a problem using TransferWise to bring in funds into Thailand that demonstrate they were brought in as an international transfer, which is a new a rule for the income method of a visa extension to support your wife or child.   

At least one post on a Thaivisa the poster’s money had gone through an intermediary bank and was therefore seen as a local transfer and the bank refused to give a certificate saying the funds come from overseas.

I’ve spent a few hours try to work out what is going on, first I looked at the transfer services with the best rates they were TransferWise (40.83) and OFX (40.42) at that time. As I couldn’t find any details of TransferWise customer service I contacted OFX and asked about their routing of UK > Thai payments, they confirmed they use the Barclays banking routing system with their intermediary bank in Thailand being Bangkok bank. They also confirm Bangkok bank is the only intermediary bank they use, (yet to be proved).

I also spoke to XTORFX who also use the Barclays routing, I suspect TransferWise does, but I don’t know for sure.

 It’s my intention to use OFX and plan to do a test using £100 to see if the system works, but I won’t do this till the end of next month when my annual funds arrive.

Until this method is tried and tested, I remain a little uncertain as to how robust the system is.

Any other experience welcome.

[wgdanson]

I am transferring GBP as GBP into my Bangkok Bank Foreign Currency Account both from my private pension fund and from First Direct as they are free, yes FREE. They show as foreign transfers, 'cos they are in GBP. I then exchange what I want, when I want into BHt into my Current accounts. I am hoping this will be OK for my Immigration man with whom I shall have a word at next 90 day report in March.