Transferwise.. No Guarantee

[PJPom]

Just another bit of info, my transferwise from Australia is shown in my passbook as X1 on the official statement I have just obtained for Immigration it is shown as X1 ATS with a further code MCL0001.

This code according to another poster on T/W heads up forum was an official reply from Kasikornbank , it says ;

The teller ID MCL00001 means international fund transfer from other bank with API system ( application Programming Interface )

My IO has seen my financials and after discussion with head office has said " all OK "

[pontious]

2 hours ago, rexall said:

Simple answer. Download the T/W transaction slip and staple to bank statement.

I can download the PDF transaction but when I try to open it it says open with -Windows Media, Nero, Wordpad , whatever I choose it comes as gibberish. Numbers , dashes etc and no text - anyone help.?

[treetops]

8 hours ago, sniggie said:

Ideally they should be satisfied just with 65k into one's bank account as it is. After all where else is a retiree going to get that sort of money other than from abroad?

There are so many holes in that theory.  I could put 65k baht from a Bangkok Bank account to a Kasikorn account every month, then present receipts into the Kasikorn to Immigration.  Does it mean I've brought in 65k baht times 12 from abroad,  or just shuffled 65k baht times 1 around two bank accounts inside Thailand every month?

[CharlieH]

9 minutes ago, treetops said:

There are so many holes in that theory.  I could put 65k baht from a Bangkok Bank account to a Kasikorn account every month, then present receipts into the Kasikorn to Immigration.  Does it mean I've brought in 65k baht times 12 from abroad,  or just shuffled 65k baht times 1 around two bank accounts inside Thailand every month?

That's the method many were using to get the income letter !! 

[VBF]

44 minutes ago, pontious said:

I can download the PDF transaction but when I try to open it it says open with -Windows Media, Nero, Wordpad , whatever I choose it comes as gibberish. Numbers , dashes etc and no text - anyone help.?

I'm assuming you're using Windows?

If so, install a proper PDF reader like Adobe Acrobat (free) and set it to be the default for PDF files - same as you might set a .DOC or .DOCX file to default to Word.

Edited July 7, 2019 by VBF

[pontious]

32 minutes ago, VBF said:

I'm assuming you're using Windows?

If so, install a proper PDF reader like Adobe Acrobat (free) and set it to be the default for PDF files - same as you might set a .DOC or .DOCX file to default to Word.

Did that and it works fine now. Many thanks for your prompt, clear instructions for a complete computer idiot like me.

[VBF]

1 minute ago, pontious said:

Did that and it works fine now. Many thanks for your prompt, clear instructions for a complete computer idiot like me.

You're welcome - another satisfied customer  ????????

[jacko45k]

13 hours ago, kimchibob said:

"International Transfer" on my account Internet banking page and "FTT" in my updated passbook.  Maybe I was just lucky. 

No, apparently that is commonplace. It is the occasional one that does not go directly that is worrying. 

[JohnOFphon]

 

This is what I got back from my email sent on the 3rd.

 

Greetings from TransferWise! I hope this email finds you well.

We do use two different banking partners to payout our THB transfers.

If you require the funds to come in via BangKok Bank as an International transfer, you will need to give us a call right after you create the transfer from now on.

We will then add a note for the payments team so that they can route the transfer correctly. You can email us as well, but in most cases it can take 1-2 days for us to respond, and by that time the transfer might already have been completed.

You can find the number and times to call for your country here: https://transferwise.com/contact

Please do not hesitate to reach back out should you have any questions - we are happy to help!

All the best,

Haley
TransferWise - Tampa Office

 

 

So create the transfer and call. Singapore is the office I would call. Using Skype...1 or 2 dollars???

 

Does anyone have any experience using OFX??

 

[lopburi3]

One good thing have found that the Transferwise PDF does provide the Thai transfer bank and reference number on page 2.  As that would be Thai local documentation verifiable suspect immigration may accept such transfers (if happening to a number of people).  But as always this is just speculation and there is no guarantee what accepted today will continue to be next year.  Suspect we should download the PDF just in case.

[scubascuba3]

Immigration could help to resolve this problem by clarifying whether TransferWise transfers count as foreign transfers i.e. people are still sending money from abroad but TransferWise internal process is to transfer domestically.

Of course Immigration won't help with that, it's easier to do nothing with the benefit of getting extra tea money and a better Merc the following year

[OJAS]

19 hours ago, sniggie said:

Ideally they should be satisfied just with 65k into one's bank account as it is. After all where else is a retiree going to get that sort of money other than from abroad?

But I think that it would be unwise to rule out the possibility of an immigration officer concluding (in all likelihood incorrectly, of course) that the 65k in question had resulted from illegal working in Thailand on a retiree's part on account of its domestic coding!

Edited July 8, 2019 by OJAS

[AAArdvark]

2 hours ago, jacko45k said:

No, apparently that is commonplace. It is the occasional one that does not go directly that is worrying. 

That is now incorrect.  Mine was wrong.  I spoke directly to TW and was told that they have just changed the way they do it and form now on (however long that is) they will be coded differently.   I also spoke to a supervisor who confirmed what the first person said.

I explained how this could have a major impact on on epats in Thailand.  They did not seem to GAS.

[sumrit]

Like many others on here I've been using TW to transfer my pensions to my BKK account since January to comply with the new rules and, after contacting TW to request they transfer all payments directly to my BKK account, this has been done, with an FTT code, until this month when the payment went via the Kasikorn bank with 'Interbank Transfer via SMART' shown on my statement.

 

But, does anybody know, what does 'Interbank Transfer via SMART' actually mean? General opinion on this forum has always suggested that it means 'a local transfer' between Thai banks within Thailand. What type of transfer actually qualifies for that 'Interbank Transfer via SMART' reason on the bank statement? 

 

I've transferred money from both my Krung Thai account and my Thannachart account to my BKK account both today and in the past and every time it shows as 'Transfer from Account at Other Bank'.  There's no mention of 'Interbank Transfer via SMART' in the reason.

 

Could the Interbank Transfer via SMART reason mean something like aN International transfer to BKK using the Kasikorn/TMB as a third party bank.

 

Has anybody actually checked the reason with BKK??

[lopburi3]

3 minutes ago, sumrit said:

Could the Interbank Transfer via SMART reason mean something like aN International transfer to BKK using the Kasikorn/TMB as a third party bank.

I get no international transfer SMS on such transfers so believe it is considered domestic.  However that does not mean it might not qualify - only time will answer that.  Not a nice feeling.

[jacko45k]

2 hours ago, AAArdvark said:

That is now incorrect.  Mine was wrong.  I spoke directly to TW and was told that they have just changed the way they do it and form now on (however long that is) they will be coded differently.   I also spoke to a supervisor who confirmed what the first person said.

I explained how this could have a major impact on on epats in Thailand.  They did not seem to GAS.

Your post is not clear to me. Transferwise have no control how Thai banks code the money they receive, only how they send it to them. And therein lies the ability.

Are you telling us TW will now always finish the depost with a domestic transfer?

[Varrius]

On 7/5/2019 at 3:45 PM, featography said:

I just did my 9th transfer thru TransferWise and every one of them posts as a FTT. I have had conversations  before with TW personnel and can share that they have always used 3 banks in Thailand, Bangkok Bank, TMB and BBL. Everyone that I have interacted with in Thailand that has transfers post as in country transfers were using TMB or BBL banks. For those folks as well as us Bangkok Bank account holders, can go on to TW site and print every transaction done, and with a printout of home bank deposits and transfers, I am confident it will fly. I extend my visa in November, so I will be putting this to the test. 

Funny that all of my TW transactions to BKB say FTT except this months which is SMT, What the hell is that?

[Bubbha]

Like a number of other posters, I requested that Transferwise mark my account to use only Bangkok Bank as the transfer bank in Thailand - so I could be credited with a foreign transfer. This has worked as expected for 4 consecutive months. I initiated another transfer today and will report back when complete.

 

If Transferwise is no longer honoring prior (approved) requests to use a specific bank in Thailand - and they're not communicating this to the relevant customers - then this will be a real negative for me.

[lopburi3]

3 minutes ago, Varrius said:

Funny that all of my TW transactions to BKB say FTT except this months which is SMT, What the hell is that?

The have been using Kasikorn Bank this month and transfers to Bangkok Bank had interbank transfer by SMART as source.

[jacko45k]

10 minutes ago, Varrius said:

Funny that all of my TW transactions to BKB say FTT except this months which is SMT, What the hell is that?

Well there is some poster named @AAArdvark that may have some info on that. But previously I thought it very occasional and random. 

[Pib]

38 minutes ago, lopburi3 said:

The have been using Kasikorn Bank this month and transfers to Bangkok Bank had interbank transfer by SMART as source.

Did you contact TW before to have your TW Recipients "tagged" to always use Bangkok Bank as the partner bank? 

 

Trying to figure out here if the SMT coding is only affecting people who did not have their TW Recipients tagged. 

[Pib]

48 minutes ago, Varrius said:

Funny that all of my TW transactions to BKB say FTT except this months which is SMT, What the hell is that?

Did you contact TW before to have your TW Recipients "tagged" to always use Bangkok Bank as the partner bank? 

 

Trying to figure out here if the SMT coding is only affecting people who did not have their TW Recipients tagged. 

[Pib]

2 hours ago, sumrit said:

Like many others on here I've been using TW to transfer my pensions to my BKK account since January to comply with the new rules and, after contacting TW to request they transfer all payments directly to my BKK account, this has been done, with an FTT code, until this month when the payment went via the Kasikorn bank with 'Interbank Transfer via SMART' shown on my statement.

Did you contact TW before to have your TW Recipients "tagged" to always use Bangkok Bank as the partner bank? 

 

Trying to figure out here if the SMT coding is only affecting people who did not have their TW Recipients tagged. 

[lopburi3]

8 minutes ago, Pib said:

Did you contact TW before to have your TW Recipients "tagged" to always use Bangkok Bank as the partner bank? 

 

Trying to figure out here if the SMT coding is only affecting people who did not have their TW Recipients tagged. 

No was not tagged - but did two transfers on different days and both had same results.

[sumrit]

11 minutes ago, Pib said:

Did you contact TW before to have your TW Recipients "tagged" to always use Bangkok Bank as the partner bank? 

 

Trying to figure out here if the SMT coding is only affecting people who did not have their TW Recipients tagged. 

Yes, first contacted them in January and asked for transfer to be tagged. This they did, and also said that tag would apply to all future transfers so there would be no need to contact them every month. 

 

It seems everybody who has contacted them in the same way in the past has, like me, had no problems until this month.

 

I will try and contact them later as I've got two more pensions to transfer later this week

Edited July 8, 2019 by sumrit

[Pib]

22 minutes ago, sumrit said:

Yes, first contacted them in January and asked for transfer to be tagged. This they did, and also said that tag would apply to all future transfers so there would be no need to contact them every month. 

 

It seems everybody who has contacted them in the same way in the past has, like me, had no problems until this month.

 

I will try and contact them later as I've got two more pensions to transfer later this week

OK, that tosses my theory that maybe this is only affecting people who did not tag their TW Recipients to use Bangkok Bank as the partner bank.    But would still like to hear from others who had their recipients tagged but are now getting SMT coding.

 

And just goes to show what works today may not tomorrow.   

 

Even for a person who was using SWIFT from their home country bank and always getting the FTT/International Transfer coding could wake up one day to see their latest transfer is coded differently like maybe using BahtNet for the final transfer leg because the home country bank changed the intermediary bank routing it uses.  Now that would not be an issue if immigration accepts the Thai bank Credit Advice showing that transfer was international with a leg going via Bahtnet....but if your immigration office will only accept it as an international transfer if your Thai bank indicates such on the immigration letter they prepare then that's where the problem can occur if the Thai bank refuses to enter it on the letter because it's "their policy."  

 

 

[Pib]

My TW recipients were tagged to use Bangkok Bank as the partner bank back in early March.  TW also said I didn't have to ask again...it was like a permanent tag until I requested it be removed.  The last transfer to my Bangkok Bank acct on 30 May arrived with FTT/International Transfer coding and Bangkok Bank was the partner bank used.  All good.

 

Out of curiosity I just initiated a transfer to my Bangkok Bank account to see what coding it receives...will report back when it arrives which should be a day or two from now. It's funded via ACH Pull so it takes around a day just for that funding process to complete....and then TW sends the baht.

[DepDavid]

Unless accepted by Bangkok Bank to write letter or immigration accepts it is not worth one iota however.  Hopefully it will be.

Let us know how that goes. I have been told the opposite.


Sent from my iPhone using Thailand Forum - Thaivisa mobile app

[racyrick]

3 hours ago, Bubbha said:

Like a number of other posters, I requested that Transferwise mark my account to use only Bangkok Bank as the transfer bank in Thailand - so I could be credited with a foreign transfer. This has worked as expected for 4 consecutive months. I initiated another transfer today and will report back when complete.

 

If Transferwise is no longer honoring prior (approved) requests to use a specific bank in Thailand - and they're not communicating this to the relevant customers - then this will be a real negative for me.

Did you call them after you made the transfer and give them the transaction number?

[cassde]

My transfer dated 2nd July was forwarded by TW via Kasikorn Bank to Bangkok Bank by way of a local, SMART, transfer. I have today written to Kasikorn Head Office requesting a document, whether Letter or Advice note, confirming the transfer from London was received and then forwarded by them to my Bangkok Bank account.

Today, I made two further transfers using TW, rang them before paying them the cash, and they messaged me saying both transactions had been tagged in favour of Bangkok Bank; also, that for future transfers my profile had been tagged in favour of Bangkok Bank, but that I should still call them before payment, confirming the tag will be applied. Both transfers will be paid tomorrow after 2pm. I will update tomorrow and when I get a reply from Kasikorn Bank