Transfers show as domestic

[keithet]

10 hours ago, Sheryl said:

It does not always. Only when Bangkok Bank was the first bank in Thailand to receive it. They do sometimes use other banks in which case it shows as a domestic transfer because it then is one.

 

This has been covered extensively in other thread.

 

TW uses a total of 3 different banks in Thailand, cannot tell you in advance which they will use, and do not select based on your account (i.e. the fact that your account is in one of the 3 banks they use doesn't influence whether they send to that bank.)

 

From all accounts they use Bangkok Bank as much as 80-90% of the time so if your account is there it will usually come through as a foreign transfer but not always. There will be an occasional month where it shows as domestic.

 

It is really very simple: if the bank where you have your account receives the money direct from TW then their records will show that it originated from abroad (in some banks through a code shown in the pass book, in others not but the record is there and the bank can verify it.).

 

If they received it from another bank in Thailand then their records will show it as a domestic transfer and they have no way of knowing it originated from abroad. Only the intermediate bank would k ow this in that case.

 

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I didn't use transfer wise. 

I made this post about my wire transfer from my US acount to my thai acount using swift. 

[Thailand J]

1 hour ago, keithet said:

I made this post about my wire transfer from my US acount to my thai acount using swift. 

You can ask the bank for a free one page print out for every SWIFT into your KBank account. On the print out it will show sender , originate bank, fees etc. I don't know if that is good enough for the immigration.

 

Also on the print out you will see KBank charges a fee to move your money from the main branch to your local branch which Bangkok Bank does not, for that I've closed my KBank account. Domestic Transfer fee, duh. Sorry for repeating.

 

All my SWIFT's into Bangkok Bank showed as FTT. You should be able to open a Bangkok Bank account with just a long term extension and some kinda proof of address. Try a few branches, one of them will let you.

Edited January 18, 2019 by Thailand J

[Sheryl]

I didn't use transfer wise. 

I made this post about my wire transfer from my US acount to my thai acount using swift. 

I wasn't replying to your post but to walkoff's post (immediately before mine) which was re TW.

 

Swift transfers should never be a problem....but they are a bit costly to do every month.

 

The potential problem is for members using TW or similiar, or getting pensions that are transferred first to a different Thai bank. Saves on transfer fees but will not always show up in your account as an international transfer.

 

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[mlmcleod]

Does anyone think that perhaps immigration jumped the gun and only considered Bangkok Bank transfers when they created the regulations?  SInce these rules were only announced in January, how will those of us who do not use a Thai bank qualify for the last 5 months before we can set up a Bangkok Bank account?

[wgdanson]

20 hours ago, happydays said:

X1 means “Transfer deposit no book”,  FRC is the code for foreign remittances.

 

https://www.scbeasy.com/v1.4/site/presignon/en/srv/srv_mpg_tcd.asp

FTT in my Bangkok bank book and statements.

[Sheryl]

I don't think Bangkok Bank vs any other bank was the issue. Immigration likely has no idea that many (?most) retirees use services like Transferwise or even what that is. It was probably just assumed that all transfers from abroad are SWIFT transfers so easily verified in Bank records.



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[HomeinThailand]

I was just in Thailand and wanted to open a 'Joint' account with my wife.  I currently have an account with Bangkok Bank.  I figured it would be no problem to open another account as I was already an established account holder.  Not so.  Because I do not have a work permit or long term visa, I am unable to do so.  It was the same story at every bank we went to.  We tried K-bank, Siam, Krungsri, Krungthai.  All sang the same song.  Banking rules have changed dramatically from years past.  Its gotten damm difficult to open one especially with the Embassies no longer doing Income Verifications.  
Bottom line, rules have changed and its gonna be a rough ride.

[sandyf]

17 hours ago, Sheryl said:

If they received it from another bank in Thailand then their records will show it as a domestic transfer and they have no way of knowing it originated from abroad. Only the intermediate bank would k ow this in that case.

That is not strictly true. My transfers from HSBC in the UK show up on my statement as "Transfer in via EXIM" which is the Export Import Bank of Thailand.

Every banking official and I would think Immigration would be well aware of EXIM and its role.

[Chongalulu]

On 1/17/2019 at 1:03 PM, Sheryl said:

Are you doing extension of stay based on marriage to a Thai or based on retirement?

 

If based on marriage the funds do not have to come from abroad.

 

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As far as I’d read on previous threads ALL transfers including for  marriage visa have to come from abroad. Can you check and verify that exception. It wasn’t on the initial translation that came out 

[keithet]

On 1/18/2019 at 11:45 AM, wgdanson said:

FTT in my Bangkok bank book and statements.

I just did my first international deposit from US bank to new Bangkok bank account using swift

My Bangkok bank inernet doesn't show "FTT"

Under channel it says "upload derect debit/credit fedi b2b"

And description is "bahtnet"

[wgdanson]

1 minute ago, keithet said:

I just did my first international deposit from US bank to new Bangkok bank account using swift

My Bangkok bank inernet doesn't show "FTT"

Under channel it says "upload derect debit/credit fedi b2b"

And description is "bahtnet"

Go to bank and ask them what that means, and why not FTT. What does it say in your bank book?

[keithet]

15 minutes ago, wgdanson said:

Go to bank and ask them what that means, and why not FTT. What does it say in your bank book?

I just received the transfer and looked online  haven't had time to get bank book updated. 

[wgdanson]

14 minutes ago, keithet said:

I just received the transfer and looked online  haven't had time to get bank book updated. 

My Bkk Bank online statements say International Transfer for a T'wise job. An my Foreign Currency Account says from where the GBP transfer was made, which is UK.

[Sheryl]

It won't always. Only when TW used Bangkok Bank for rhe transfer. They have 3 different banks they use and no way to choose which or know in advance. Currently seem to use BB most often but be prepared for an occasional transfer coming through that shows as domestic because it passed through another bank in Thailand first.



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[keithet]

32 minutes ago, wgdanson said:

My Bkk Bank online statements say International Transfer for a T'wise job. An my Foreign Currency Account says from where the GBP transfer was made, which is UK.

I just opened my Bkk acount and did my first transfer to see what it looks like via internet banking. 

I did swift code and from my US acount tranfered in baht to my bkk acount. 

I'm not sure about foriegn currency acount??? I just opened a savings

[keithet]

1 hour ago, keithet said:

Under channel it says "upload derect debit/credit fedi b2b"

 And description is "bahtnet"

Maybe the channel "fedib2!b" refers to:

Foriegn exchange deposit international bank to bank??? 

[Thailand J]

I suspect the problem is you've specified baht instead of USD when you ordered SWIFT. Somehow the transfer went into bahtnet or FEDI ( Financial Electronic Data Interchange). Those are domestic money exchange systems.

I have done countless SWIFT into my Bangkok Bank savings, always showed as FTT. I ordered US broker/bank to make USD tranfer into my baht savings account and Bangkok Bank convert it into baht.

 

Edited January 26, 2019 by Thailand J

[keithet]

2 hours ago, Thailand J said:

I suspect the problem is you've specified baht instead of USD when you ordered SWIFT. Somehow the transfer went into bahtnet or FEDI ( Financial Electronic Data Interchange). Those are domestic money exchange systems.

I have done countless SWIFT into my Bangkok Bank savings, always showed as FTT. I ordered US broker/bank to make USD tranfer into my baht savings account and Bangkok Bank convert it into baht.

 

Does bangkok bank atomaticly exchange the US dollar amount to thai baht or do you have to go to the bank? 

[Sheryl]

Automatic at all banks if it is a Thai baht account.

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[Pib]

29 minutes ago, keithet said:

Does bangkok bank atomaticly exchange the US dollar amount to thai baht or do you have to go to the bank? 

Automatic.  They use their TT Buying Rate.

[keithet]

14 minutes ago, Pib said:

Automatic.  They use their TT Buying Rate.

Is the tt buying rate the same as the $50-$100 banknote rate? Like right now says 31.28 baht to dollar. 

So my American bank charges $10 more for sending in $$ so thats $45 at US bank. What does bkk bank charge to recieve and exchange? 

[Pib]

6 hours ago, keithet said:

I just did my first international deposit from US bank to new Bangkok bank account using swift

My Bangkok bank inernet doesn't show "FTT"

Under channel it says "upload derect debit/credit fedi b2b"

And description is "bahtnet"

 

You also asked above in a separate thread....below is my 2 cents worth from that thread.

 

[offset]

Just for info yesterday transferred from the UK Nationwide to Kbank it was shown on passbook has an international transfer code was TFN05030