Anyone know what this code stands for, please? It isn't included in the list on the back cover of my passbook

SMT

System for Managing Automated Retail Funds Transfer

Service for interbank funds transfer via online order submission

On 1/9/2019 at 9:22 AM, userabcd said:

SMT

System for Managing Automated Retail Funds Transfer

Service for interbank funds transfer via online order submission

Which is what TW is now using instead of international transfer

On ‎7‎/‎2‎/‎2019 at 8:16 PM, AAArdvark said:

Which is what TW is now using instead of international transfer

It has nothing to do with TW, it's the third world Thai banking systems that cause the issue.

 

Individual bank branches do not have a SWIFT code, therefore any International transfers go via the Head office of all Thai banks before being transferred to your local branch account.

You can make a direct foreign bank transfer to your Kasikorn account, but it still won't be coded as a foreign transfer in your local passbook.

You have to request 'credit receipts' or a 'statement of International transfers' from the HQ as proof of the foreign transfers.

 

Bangkok bank are the only bank to my knowledge who when transferring from their HQ account to your local branch account record the source of the transfer as FTT in your passbook.

 

It's a little more complex with TW transfers, which are Foreign Telex transfers, but it then depends on which partner branch pays to what bank.

Even then, with the exception of BKK, even if TW paid from their KK partner account to your local KK account it still won't be coded as a foreign transfer in your passbook because KK HQ don't advise the branch of the source, so as far as your branch is concerned it was a local transfer from their HQ to your local account.

Edited July 13, 20196 yr by Tanoshi

So.. what's the fix here? Starting in July all my TW are now marked SMT as well (Bangkok Bank). Do I contact BBL or TW?

2 hours ago, revgreen said:

So.. what's the fix here? Starting in July all my TW are now marked SMT as well (Bangkok Bank). Do I contact BBL or TW?

Your TW pdf receipt will tell you which Thai bank it went through en route to your BKK account.

(Either KK or TMB)

That's the bank you need to approach, not BKK or TW.

I saw in my pdf receipt of the last money transfer by transferwise beginning of july, that the partner bank of transferwise is not bangkok bank anymore. It is now kasikorn bank.


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1 hour ago, bravo19 said:

I saw in my pdf receipt of the last money transfer by transferwise beginning of july, that the partner bank of transferwise is not bangkok bank anymore. It is now kasikorn bank.


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Even if you tag your TW account to go through their BKK partner, they cannot 100% guarantee it may on occasion, due to technicalities, (which occurred the beginning of July) go through either their KK or TMB partner.

Your transfer will be rerouted through a different bank in order to reach your account on the date they specified at the point of placing your transfer.

I posted a little while ago on another thread a screenshot showing Transferwise now has an option, under the reason for sending money, something along the lines of "For a long term visa in Thailand".  It's yet to be proven out but it could be that the problem has been/is being fixed by Transferwise.

On ‎8‎/‎3‎/‎2019 at 11:20 PM, treetops said:

I posted a little while ago on another thread a screenshot showing Transferwise now has an option, under the reason for sending money, something along the lines of "For a long term visa in Thailand".  It's yet to be proven out but it could be that the problem has been/is being fixed by Transferwise.

Has this been sorted... Does it show international transfer??

34 minutes ago, Thaifish said:

Has this been sorted... Does it show international transfer??

I've seen no reports to the contrary since it was introduced, but Transferwise insist it's not 100% guaranteed. If they have issues with the "regular" transfer route, their systems could automatically send money via an alternative one, similar to what happened last July that kicked off all the fracas.

treetops...thank you so much for the reply.... I have sort of double dipped asking the same question in the post.. Changing from 800/400 to monthly installments…. You feedback confirms... I checked TransferWise and they have an option to show "retirement in Thailand" on the reason for transferring money... With my next transfer I will check that box and hopefully it will show up as a an international transfer... Thank you, Thank you...