Can the monthly 65k be used?

[wgdanson]

1 hour ago, scubascuba3 said:

But I don't have the Transferwise Thai baht account discussed hence the question

 

You do not need any Thai Baht account, just exchange GBP (or USD) for THB on the T'wise site. 

[wgdanson]

1 hour ago, Skallywag said:

Must it be from a foreign bank if you are on a retirement Non-imm/OA visa?     

Did you read any of the thousands of previous posts about this?

[zoza]

 

18 minutes ago, wwest5829 said:

I established a TransferWise accoun5. Next, they sent two “test” deposits to my US bank account. Next I chose to transfer an amount charged to my credit card and a like amount transferred directly from my US bank account. All has worked without issues. The transfers were deposited into my Bangkok Bank account here in Chiang Mai without issue.

so did you save on inter bank fee's ( Swift ect) and did it state International transfer when it landed in Thailand, as if it is doable I would like to hear a more detailed account. Please.

[scubascuba3]

You do not need any Thai Baht account, just exchange GBP (or USD) for THB on the T'wise site. 

On a previous post when you were talking about a borderless account you said that you made a transferwise transfer converting to Thai baht, you then at a later point transferred 1000 baht of it to your Thai bank account and it showed as Intl? that was my understanding of what you said anyway, hence my question I've repeated a few times now

[wgdanson]

8 hours ago, scubascuba3 said:

12 hours ago, wgdanson said:

You do not need any Thai Baht account, just exchange GBP (or USD) for THB on the T'wise site. 

On a previous post when you were talking about a borderless account you said that you made a transferwise transfer converting to Thai baht, you then at a later point transferred 1000 baht of it to your Thai bank account and it showed as Intl? that was my understanding of what you said anyway, hence my question I've repeated a few times now

There is a difference between having a Borderless Account where you can load it up with Baht (or,USD,EUR etc ) as and when the exchange rate is good, then when you need to do your Extension transfer (65k) once a month, you have it there...or conversely just do a simple 65k Transferwise transfer on the day you need to, at that day's exchange rate. The former MAY incur slightly higher charges, but you might have made that up with better rates. I shall look into it further..

Edited April 10, 2019 by wgdanson

[ThaiBunny]

Just now, wgdanson said:

There is a difference between having a Borderless Account where you can load it up with Baht (or,USD,EUR etc ) as and when the exchange rate is good, then when you need to do your Extension transfer (65k) once a month, you have it there...or conversely just do a simple Transferwise transfer on the day you need to, at that day's exchange rate. The former MAY incur slightly higher charges.

Again, you seem totally confused about what a borderless account is in Transferwise.  A borderless account is a real bank account, with a real tracking ID and account number, that anyone can use to transfer money to you, and it exists as a real bank account in the country you designate.  I have a US borderless account as part of my Transferwise account; it is with a US bank, in the US.  There are also FX accounts in Transferwise, where you can store a number of currencies including THB.  An FX account is not a borderless account.  It does not have a tracking ID and account number, and no one else can send money to it. It does not have a physical existence.  There is no such thing as a borderless account in Thailand.  Transferwise do not offer that facility

[5633572526]

On 4/8/2019 at 12:09 PM, marcusarelus said:

If SS messed up my payments for a couple of months I'm out on my ear?

Have they ever??

[scubascuba3]

Again, you seem totally confused about what a borderless account is in Transferwise.  A borderless account is a real bank account, with a real tracking ID and account number, that anyone can use to transfer money to you, and it exists as a real bank account in the country you designate.  I have a US borderless account as part of my Transferwise account; it is with a US bank, in the US.  There are also FX accounts in Transferwise, where you can store a number of currencies including THB.  An FX account is not a borderless account.  It does not have a tracking ID and account number, and no one else can send money to it. It does not have a physical existence.  There is no such thing as a borderless account in Thailand.  Transferwise do not offer that facility

So it sounds like we are talking about a Transferwise Thai baht FX account. So back to my original question, I wonder whether you can select a local partner (by email) of your choice say Kasikorn and when transferring to a Kasikorn bank account it will be classed as Intl. Or perhaps using an FX account the next stage doesn't involve a local partner

 

[wgdanson]

2 hours ago, ThaiBunny said:

Again, you seem totally confused about what a borderless account is in Transferwise.  A borderless account is a real bank account, with a real tracking ID and account number, that anyone can use to transfer money to you, and it exists as a real bank account in the country you designate.  I have a US borderless account as part of my Transferwise account; it is with a US bank, in the US.  There are also FX accounts in Transferwise, where you can store a number of currencies including THB.  An FX account is not a borderless account.  It does not have a tracking ID and account number, and no one else can send money to it. It does not have a physical existence.  There is no such thing as a borderless account in Thailand.  Transferwise do not offer that facility

Sorry if you misunderstand me. I have a Borderless Account with Transferwise in UK which has GBP, USD, EUR and I have added a THB section. To this I can transfer any money I want, when I want into THB and then send those THB to my Bkk bank as and when I need to, and which for me, arrived as an FTT. 

Edited April 10, 2019 by wgdanson

[ThaiBunny]

1 hour ago, wgdanson said:

Sorry if you misunderstand me. I have a Borderless Account with Transferwise in UK which has GBP, USD, EUR and I have added a THB section. To this I can transfer any money I want, when I want into THB and then send those THB to my Bkk bank as and when I need to, and which for me, arrived as an FTT. 

No, you have a Transferwise account that allows you to have borderless accounts in the UK for GBP, in the US for USD and AFAIK in Europe for the EUR.  You can't have a borderless account for THB.  Alternatively you have a Transferwise account that allows you to set up GBP, USD, EUR borderless accounts but you don't actually have any borderless accounts within it.  What it sounds like you have is an FX THB account within your Transferwise account, not a borderless THB account (which doesn't exist)

[ThaiBunny]

1 hour ago, scubascuba3 said:

So it sounds like we are talking about a Transferwise Thai baht FX account. So back to my original question, I wonder whether you can select a local partner (by email) of your choice say Kasikorn and when transferring to a Kasikorn bank account it will be classed as Intl. Or perhaps using an FX account the next stage doesn't involve a local partner

AFAIK if you have a THB FX account within your Transferwise account then when you send money to Thailand Transferwise doesn't need to do the FX conversion as you already have funds in THB.  That's how it works for me when I send money to Thailand from my THB FX account.  All the FX account does is allow me to speculate on future direction of the exchange rate by buying THB when I believe it's a good rate that I may not get when I want to send some money.  It's still an international transaction when it arrives in Thailand

Edited April 10, 2019 by ThaiBunny

[wgdanson]

2 minutes ago, ThaiBunny said:

AFAIK if you have a THB FX account within your Transferwise account then when you send money to Thailand Transferwise doesn't need to do the FX conversion as you already have funds in THB.  That's how it works for me when I send money to Thailand from my THB FX account.  All the FX account does is allow me to speculate on future direction of the exchange rate by buying THB when I believe it's a good rate that I may not get when I want to send some money.  It's still an international transaction when it arrives in Thailand

I think that's what I said earlier.

I also have a Revolut account/card which is a similar type of thing.