Transferwise & the 800k problem for retirement visa

[Yewbzee]

I know there are many threads on this issue and I have read many of them but has anyone been through the retirement visa system recently and found a definitive answer to the issue with using Transferwise to transfer the 800k into Kasikorn Bank and being able to show that it is a foreign transaction for the purpose of the retirement visa?

 

Ive been an existing Kasikorn customer for many years and looking back on my past deposits from the UK using TransferWise it appears all of them use the "Dummy Account" reference which I'm led to believe is not deemed as an international transfer?

 

I've also read in other posts that you can ask TransferWise to "tag" your transfer to be routed to one of three Thai banks with Kasikorn being one of them. Has anyone tried this yet with any success?

[scubascuba3]

I talked to Kasikorn yesterday about selecting Kasikorn as a local partner, they emailed me back but their answer doesn't give me confidence it would be processes correctly i.e. Kasikorn to Kasikorn. I suggest you do a small test transfer and before you pay call/email them to select Kasikorn as local partner. Just ensure they understand what you mean

[JimGant]

2 hours ago, Yewbzee said:

to the issue with using Transferwise to transfer the 800k into Kasikorn Bank and being able to show that it is a foreign transaction for the purpose of the retirement visa?

For the 800k in a Thai bank account method, needed for annual extensions, you don't need to show that it's from a foreign source. Only the 65k/mo income method apparently requires showing foreign source -- and Transferwise is not consistent with such showings. Not sure what workarounds would satisfy Immigration.......(?).

[Yewbzee]

This will be my first change to Non immigrant visa as part of the retirement visa so I think it is a requirement.

Edited March 15, 2019 by Yewbzee
Correction

[ubonjoe]

21 minutes ago, Yewbzee said:

This will be my first change to Non immigrant visa as part of the retirement visa so I think it is a requirement.

It will be needed if you are going to apply for a 90 day day non immigrant visa (category O) entry at immigration that is needed to apply for a extension of stay based upon retirement.

[Yewbzee]

11 minutes ago, ubonjoe said:

It will be needed if you are going to apply for a 90 day day non immigrant visa (category O) entry at immigration that is needed to apply for a extension of stay based upon retirement.

Yes I thought so. I just checked today with Kasikorn on one of my recent transfers using TransferWise and it entered the country via the bank TMB and was then transferred to Kasikorn hence my bank can't confirm it as a foreign source. Its a pain in the ass.

[Longcut]

34 minutes ago, Yewbzee said:

Yes I thought so. I just checked today with Kasikorn on one of my recent transfers using TransferWise and it entered the country via the bank TMB and was then transferred to Kasikorn hence my bank can't confirm it as a foreign source. Its a pain in the ass.

It would be so nice and so much easier if Thai Immigration would accept the transfer receipt from companies like Transferwise. It defiantly shows coming from a foreign source. As mine are withdrawn from my bank in the U.S. in USD and transferred to Thailand and deposited in my Thai bank in THB.  Shows the exchange rate, transfer fee also. I believe it is more forthright than the old income affidavits. 

Edited March 15, 2019 by Longcut