Transferwise international transfers heads up

[jacko45k]

20 hours ago, Bill97 said:

Got to love ‘em. Thai bankers say that immigration should accept TransferWise pdf as proof of international transfer but the bank would not provide a letter verifying international transfers based on the TW pdf.


Sent from my iPhone using Thaivisa Connect

One is passing off responsibility, the other is taking responsibility..... 

[soalbundy]

30 minutes ago, wgdanson said:

This was posted on this thread a while back. I showed it to my Bkk Bank man and he said he will do the same letter for me in December.

Thanks for that info

[OJAS]

19 hours ago, sumrit said:

Can anybody confirm (or otherwise) whether this particular code is used for anything else?

Yes, it was, for example, used fairly recently by Bangkok Bank in coding a credit to my account with them of refunds which I had asked Lazada to transfer from my wallet with them - which, needless to say, didn't have any whiff of a foreign transfer about it!

Edited July 19, 2019 by OJAS

[Acharn]

On 7/18/2019 at 7:19 PM, Jip99 said:

 

See sumrit's post..... and WG Danson.

 

I actually showed a Bangkok Bank letter template (taken off Thai.Visa.com) to my local Kasikorn branch. As helpful as they were, (and Prakhonchai branch of K Bank have always been Farang-friendly) they said that Head Office had not said they could do such letters.

 

My renewal was a little unusual in that I had previously been advised that Buriram immigration would not accept my British embassy letter after 1st March. When I called in May  police captain Noongsangnern took my embassy letter plus the K Bank standard letter (stating that I held an account with a balance of c. 30k), plus the 12 months stamped bank statements plus my TW PDF's that corresponded to the 65k+ p.m. transfers.

 

 

Well, I can't read his mind, but it sounds to me like your immigration officer did not expect to see a letter from the bank listing your transfers. I think what the manager at the Nakhon Sawan main branch told me was correct, that the copies of the passbook are the "statement." I can't tell if your .pdf files and embassy affidavit were needed or he just accepted them and then threw them away after you left. 

 

Anyway, I'm more worried about the slow decline of the US Dollar and am preparing to follow my immigration officer's advice and next year have some money in the bank so I can use the mixed method -- base the extension partly on current pension and partly on bank deposit. I don't expect to live long enough to reach ฿800,000, but ฿100,000 should be feasible, and then I'd only need to show a pension of ฿57,000 or more.

[Acharn]

On 7/19/2019 at 7:12 AM, wgdanson said:

This was posted on this thread a while back. I showed it to my Bkk Bank man and he said he will do the same letter for me in December.

Thank you for that example. I did not have a letter like that when I did my extension last month, and the BKK Bank manager here told me they do not produce such a letter. Very odd. Well, it looks like this question is not going away yet. My immigration officer (same one who's handled my case for the last five years) even accepted an entry in my bank book that showed a code of SMT, rather than FFT, so we'll have to see how hard-ass individual officers decide to be.

[wgdanson]

5 minutes ago, Acharn said:

Thank you for that example. I did not have a letter like that when I did my extension last month, and the BKK Bank manager here told me they do not produce such a letter. Very odd. Well, it looks like this question is not going away yet. My immigration officer (same one who's handled my case for the last five years) even accepted an entry in my bank book that showed a code of SMT, rather than FFT, so we'll have to see how hard-ass individual officers decide to be.

My IO said the same because last month's T'Wise went via Kasikorn. But I am not going to take the risk of a rejection in December for just one SMT, I shall import some GBP into my FCA to go over 800k, then extension sorted. And at today's exchange rate......forget T'wise or SWIFT.

[nycjoe]

Just off the phone with Bangkok bank and they are aware of the problem and said that if you go to your branch and ask for a credit advise document from them, they will verify that it was an international transfer. I will need to do this before next May when I renew my visa. Hope it works TIT

[steve73]

TW have recently added a new "Reason" for sending money to Thailand..... "For Long Term Living" or some similar description... and apparently using this does result in arriving funds being coded as International...  I've just received some funds using this method and will find out tomorrow when I can see whether it was coded correctly.... 

[treetops]

41 minutes ago, steve73 said:

TW have recently added a new "Reason" for sending money to Thailand..... "For Long Term Living" or some similar description... and apparently using this does result in arriving funds being coded as International...  I've just received some funds using this method and will find out tomorrow when I can see whether it was coded correctly.... 

Screenshot here if it helps anyone:

https://forum.thaivisa.com/topic/1114909-transactions-transferwise-make-it-right/page/2/?tab=comments#comment-14423670

 

Is there any assurance it'll work every time?  They couldn't guarantee their system before.

[steve73]

On 8/7/2019 at 2:07 PM, steve73 said:

TW have recently added a new "Reason" for sending money to Thailand..... "For Long Term Living" or some similar description... and apparently using this does result in arriving funds being coded as International...  I've just received some funds using this method and will find out tomorrow when I can see whether it was coded correctly.... 

Failed... It was coded as Dummy Branch - MCL0001.. i.e. Domestic transfer... 

 

edit.. perhaps should have added.. that was to Kasikorn.

Edited August 8, 2019 by steve73

[PJPom]

38 minutes ago, steve73 said:

Failed... It was coded as Dummy Branch - MCL0001.. i.e. Domestic transfer... 

 

edit.. perhaps should have added.. that was to Kasikorn.

Check what MCL0001 means, I found the meaning on here posted by another and according to Kasikorn it means “ international fund transfer from other bank with API system “

This was acceptable to my IO last month.

[Acharn]

On 8/7/2019 at 2:07 PM, steve73 said:

TW have recently added a new "Reason" for sending money to Thailand..... "For Long Term Living" or some similar description... and apparently using this does result in arriving funds being coded as International...  I've just received some funds using this method and will find out tomorrow when I can see whether it was coded correctly.... 

I noticed that new reason -- "To establish long term living in Thailand," or something. I chose the "fore daily living expenses," again, and the code is "SMT," again. I'm not going to worry about it, because either Immigration headquarters is going to fine out about it, or the fact that the law does not say the funds have to come from overseas, or my local immigration officer has already demonstrated a willingness to accept the "SMT" code, I believe things will work out next year. I have to do 90 Day Report next week, I'll ask while I'm there (it's a small office and the case load is not large) if she's received any clarification. I note that in my BKK Bank book "SMT" is not listed among the 3-letter codes on the back cover, but neither is "FFT."

[steve73]

2 hours ago, PJPom said:

Check what MCL0001 means, I found the meaning on here posted by another and according to Kasikorn it means “ international fund transfer from other bank with API system “

This was acceptable to my IO last month.

That is good to know... My passbook doesn't show that particular code, and I couldn't find anything on the web-site. 

 

My previous transfers have sometimes been recorded "International Trading and Factoring Centre" when coming via TW's local Kasikorn banking partner, but "Dummy Account" when coming via one of their other partnering banks... But it does appear that the 0001 code is new though.  

[treetops]

3 hours ago, steve73 said:

Failed... It was coded as Dummy Branch - MCL0001.. i.e. Domestic transfer... 

 

edit.. perhaps should have added.. that was to Kasikorn.

I can't see the Kasikorn reference mentioned above, but this post refers to SCB and MCL0001 being International as described.

 

https://forum.thaivisa.com/topic/1111443-changes-made-by-transferwise-transfers-to-thai-bank-accounts/?tab=comments#comment-14341192

 

[pontious]

3 hours ago, Acharn said:

or the fact that the law does not say the funds have to come from overseas,

It does.

[Issanman]

On 8/7/2019 at 2:07 PM, steve73 said:

TW have recently added a new "Reason" for sending money to Thailand..... "For Long Term Living" or some similar description... and apparently using this does result in arriving funds being coded as International...  I've just received some funds using this method and will find out tomorrow when I can see whether it was coded correctly.... 

Last week I went into my TW account and selected my Bangkok Bank account as my primary account for receiving THB.

I then setup a test transfer of $200 and was asked the reason for the transfer. I selected "Funds for long term stay in Thailand" as the reason.

The transfer showed up a couple of days later as an international transfer, no problem.

I have not called or emailed TransferWise.

[sumrit]

1 minute ago, Issanman said:

Last week I went into my TW account and selected my Bangkok Bank account as my primary account for receiving THB.

I then setup a test transfer of $200 and was asked the reason for the transfer. I selected "Funds for long term stay in Thailand" as the reason.

The transfer showed up a couple of days later as an international transfer, no problem.

I have not called or emailed TransferWise.

I've just done the same this morning. I transfered two of my pensions at 6:45 this morning using the "Funds for long term stay in Thailand" as the reason. I had an email confirming the money had been sent two hours later with the link to the PDF showing it been sent directly to my Bangkok bank (which of course means an FTT coding). It will be credited to my BKKB account at around 2:00 this afternoon as usual. Just seven hours to complete the transfer.

[Kadilo]

20 hours ago, PJPom said:

Check what MCL0001 means, I found the meaning on here posted by another and according to Kasikorn it means “ international fund transfer from other bank with API system “

This was acceptable to my IO last month.

Has this been confirmed. ?

I did another test my Kasikorn account yesterday using the new reason and got the MCL0001 code. 

The nearest code shown on their list is MCL00045 which is a smart credit transaction. 

I havent seen the 0001 code anywhere from Kasikorn  which explains it as International. 

[PJPom]

I think it was in this forum before 5 July. 

The MCL0001 only appears on my SCB bank statement that I obtained for Immigration, with the information that I copied my I O was happy and passed everything. The below image is as I copied it, prior to 5 July would be your start point for further info.

[Kadilo]

3 minutes ago, PJPom said:

I think it was in this forum before 5 July. 

The MCL0001 only appears on my SCB bank statement that I obtained for Immigration, with the information that I copied my I O was happy and passed everything. The below image is as I copied it, prior to 5 July would be your start point for further info.

Many thanks. I shall use this too and pop into Kasikorn to confirm. 

[PJPom]

2 minutes ago, Kadilo said:

Many thanks. I shall use this too and pop into Kasikorn to confirm. 

Note that the very helpful teller in SCB had no idea what this code meant, 

maybe take a copy of this conversation and make them aware, also if possible get them to put this explanation in writing on a bank letterhead.

Good luck...PJ

[Acharn]

6 hours ago, Issanman said:

Last week I went into my TW account and selected my Bangkok Bank account as my primary account for receiving THB.

I then setup a test transfer of $200 and was asked the reason for the transfer. I selected "Funds for long term stay in Thailand" as the reason.

The transfer showed up a couple of days later as an international transfer, no problem.

I have not called or emailed TransferWise.

Well, you don't need to contact them -- this is a new reason they have added because they were made aware of the problem. I presume that if you choose that reason they will make sure the funds are transferred by SWIFT rather than by SMART. By the way, only some expats are having a problem with this. When I extended my stay in June my Immigration Officer accepted the "SMT" code. As far as I know the law requires that you show a pension, not that it comes from overseas. Some officers have their own interpretation. Wish we could get more clarity from higher level. Apparently the banks are going to start giving a letter showing your transfers, so that should solve the problem. Previously, only some branches did (mine didn't).

[sumrit]

59 minutes ago, Acharn said:

Well, you don't need to contact them -- this is a new reason they have added because they were made aware of the problem. I presume that if you choose that reason they will make sure the funds are transferred by SWIFT rather than by SMART. By the way, only some expats are having a problem with this. When I extended my stay in June my Immigration Officer accepted the "SMT" code. As far as I know the law requires that you show a pension, not that it comes from overseas. Some officers have their own interpretation. Wish we could get more clarity from higher level. Apparently the banks are going to start giving a letter showing your transfers, so that should solve the problem. Previously, only some branches did (mine didn't).

You presume wrong on both counts.

 

I have already used the new option to make a transfer using TW, this morning. They do not use SWIFT, they use the same method they have been using, I'd always asked my transfer be routed via the Bangkok bank anyway and this time was no different, the PDF I received this morning confirmed the method and the transfer arrived in my account at 2:00 this afternoon coded FTT (INTERNATIONAL TRANSFER).

 

As for the requirement for the source of the money see the attachment. The money can come from various sources. This is the marriage version and the retirement version is very similar. The only difference is that, for retirement, you must transfer 65k baht each and every month for twelve months. But, for marriage, you only need to transfer an average of 40k baht a month to cover the twelve month period.

 

1. Extension - Marriage - highlighted.pdf

[Acharn]

On 8/9/2019 at 6:35 PM, sumrit said:

You presume wrong on both counts.

 

I have already used the new option to make a transfer using TW, this morning. They do not use SWIFT, they use the same method they have been using, I'd always asked my transfer be routed via the Bangkok bank anyway and this time was no different, the PDF I received this morning confirmed the method and the transfer arrived in my account at 2:00 this afternoon coded FTT (INTERNATIONAL TRANSFER).

 

As for the requirement for the source of the money see the attachment. The money can come from various sources. This is the marriage version and the retirement version is very similar. The only difference is that, for retirement, you must transfer 65k baht each and every month for twelve months. But, for marriage, you only need to transfer an average of 40k baht a month to cover the twelve month period.

 

1. Extension - Marriage - highlighted.pdf 434.35 kB · 4 downloads

Thanks for your clarification. I see that I was wrong in my assumption about the transfer method, but that seems to not be relevant anyway. What I do not understand is why the transfer is sometimes coded SMT and sometimes FTT, but my understanding is not important. From the file you attached, it seems I need a "funds deposit certificate issued by a bank in Thailand." If that is the letter showing my ending balance, then it seems not to be necessary (according to the police order) to have the entry of FTT at all. I realize that what we need to do is satisfy our local Immigration Officer, not necessarily to comply with the letter of the law. In my case I am lucky to have an Immigration Officer who is reasonable and accepts that I am legitimate. She's young enough that I think she will be the officer who approves my request for the rest of my life. I think in the future I'll use this new reason and see. This year I was told BKK Bank does not issue the letter showing monthly deposits. Maybe they will issue it next year. Meanwhile I'll just go along with Matthew 6:34, "Sufficient to the day is the evil thereof ..." Thank you for the attachment, it is helpful.

[fusion58]

On 8/7/2019 at 2:07 PM, steve73 said:

TW have recently added a new "Reason" for sending money to Thailand..... "For Long Term Living" or some similar description... and apparently using this does result in arriving funds being coded as International...  I've just received some funds using this method and will find out tomorrow when I can see whether it was coded correctly.... 

I did a test transfer and it worked as advertised for me.

[treetops]

16 hours ago, fusion58 said:

I did a test transfer and it worked as advertised for me.

The "old" system worked well for almost everybody until it didn't.  Transferwise have said this one will be the same and there are still no guarantees of FTT in our bankbook.

[Ronnie77]

 

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Edited August 14, 2019 by Ronnie77

[Kadilo]

18 hours ago, fusion58 said:

I did a test transfer and it worked as advertised for me.

I did one too to Kasikorn. Got a teller MCL code. 

Nothing in their literature which explains what this is. I’ve read in one of the many threads it means International but went into the local branch and they did t have a clue. Rang someone who was equally clueless so what chance an IO is gonna know. Zero. Complete hash. 

Edited August 14, 2019 by Kadilo

[treetops]

1 hour ago, Ronnie77 said:

The service does not charge currency exchange, international transfer or cash withdrawal fees.

Exchange rate is crap and you don't mention if it'll support the visa financial requirements which is what the Transferwise discussions are mainly about.

 

Poor first plug.

[Alexila]

Do all expats living in Thailand long term must have incoming funds "stamped" as International transfers? How important this problem is ? Thx.