Transactions-Transferwise-make it right...

[glegolo]

I shall bring this up though it doesn´t concern me at all, but try to be of some assistance, if possible, for people from USA/UK and Australia. I friend of mine (american) he is on a regular basis transferring money from USA to Thailand in order to complete his extension of stay based on retirement.

 

He is transferring money every single month to Thailand. And when it came up that Transferwise in some cases transferred funds for clients to Thailand from aborad it could with bad luck from time to time shows up like domestic transfers....

 

Let me quote his correspondance with Transferwise and see if this bring any help for some of you guys, lets hope so....

My friend wrote to Transferwise this;

 

quote

With recent changes in the Immigration rules here in Thailand, we are obligated to show that the money is coming into the country from our home bank in America. When the deposit is logged into my Thai bank account, it just shows as a deposit, not that it came from an overseas transfer. Is there anyway to solve this problem. I have been using your services for the past 7 months and I know that this a problem for others that are living here on a, "Retirement Visa". Thank you for your consideration of a problem that we face every time we renew our Visas.

unquote

 

TransferWise replied quickly this:

quote

Annika H (TransferWise) Jul 28, 19:10 CEST Hi there,  Hope you are doing well! I have made a change on your profile which allows all your payments to THB to be sent out via our partner Bangkok Bank. This partner is able to show your incoming transactions sent out via TransferWise as Foreign Exchange Transaction Form. If you have more questions, feel free to contact us again!   All the best,  Annika unquote   So good luck everybody concerned.   glegolo

Edited July 31, 2019 by glegolo

[Varrius]

After almost 12 months of Transferwise sending MY money to MY Bangkok Bank account and it showing as a Foreign transfer, this month they sent it via the Kasikorn bank then onto my BKK bank which now shows a domestic transfer so no marriage extension for me next month. However this post by Glegolo was very helpful and I hope It will resolve my Problems next year.

I have used Transferwise for 2 years and have been very satisfied.  However maybe there is a better way forward.

[stephenterry]

A recent discussion on this TW topic was carried out on this site, with similar issues. But thanks for the post, much appreciated for those similarly affected.

 

Bottom line. It's up to the individual to contact TW support ([email protected]) and request that his/her account is tagged similarly as above - although TW cannot guarantee that it would ALWAYS come through BKK Bnk as FIRST recipient, if there was (for instance) a delay issue with the bank's processing systems on the time and day that the money arrives in Thailand. In which (rare) case the first recipient transfer could be switched to (say) K Bank.

 

We're talking maybe only minutes of delay, but such is the enormous volume of electronic financial transactions carried out by the global banking system that there has to be an immediate resolution.

 

I recently had this happen to me, but at a cost of 200 baht, K Bnk provided a certified confirmation letter (for IMM) that my transfer initiated from a foreign source. Problem resolved - hopefully.

 

BTW - BKK Bnk will code a foreign transfer transaction received directly as FTT.  If arriving via another Thai bank it would be coded SMT. (My BKK branch told me the code (System for Managing Automated Retail Funds Transfer)  was related to FTT (in my case) but IMM here in CM don't 'understand/accept' it without any accompanying letter from (say) K bank.

 

best of luck...

 

 

 

 

 

 

[stephenterry]

4 minutes ago, Varrius said:

After almost 12 months of Transferwise sending MY money to MY Bangkok Bank account and it showing as a Foreign transfer, this month they sent it via the Kasikorn bank then onto my BKK bank which now shows a domestic transfer so no marriage extension for me next month. However this post by Glegolo was very helpful and I hope It will resolve my Problems next year.

I have used Transferwise for 2 years and have been very satisfied.  However maybe there is a better way forward.

Varrius - read my post below. Just get a letter from K Bank like I did.

[Varrius]

Another helpful post. Thanks

[jacko45k]

3 hours ago, Varrius said:

they sent it via the Kasikorn bank then onto my BKK bank which now shows a domestic transfer so no marriage extension for me next month.

Some offices are prepared to look at other corroborating paperwork, so for that transfer produce the Transferwise .pdf receipt and it might fly. 

[Roger Lorton]

18 hours ago, jacko45k said:

Some offices are prepared to look at other corroborating paperwork, so for that transfer produce the Transferwise .pdf receipt and it might fly. 

Do'nt happen to know which ones, do you? Korat for example? 

[jacko45k]

6 minutes ago, Roger Lorton said:

Do'nt happen to know which ones, do you? Korat for example? 

I only know Jomtiem have, I hope someone who uses Korat, or has a better memory than me, can answer that. 

[soalbundy]

I got an email from TW saying that they have now tagged my membership number so that all transfers will go through Bangkok bank. I sent a transfer yesterday and am curious as to whether this will work or not or whether it goes through Kasikorn again. I don't rely on my bank book as I can still get a letter of confirmation from the German embassy but I like to have all my options covered.

[pontious]

35 minutes ago, soalbundy said:

I got an email from TW saying that they have now tagged my membership number so that all transfers will go through Bangkok bank. I sent a transfer yesterday and am curious as to whether this will work or not or whether it goes through Kasikorn again. I don't rely on my bank book as I can still get a letter of confirmation from the German embassy but I like to have all my options covered.

It is all down to luck. TW cannot, and will not, guarantee the routing.

[LivinLOS]

57 minutes ago, soalbundy said:

I got an email from TW saying that they have now tagged my membership number so that all transfers will go through Bangkok bank. I sent a transfer yesterday and am curious as to whether this will work or not or whether it goes through Kasikorn again. I don't rely on my bank book as I can still get a letter of confirmation from the German embassy but I like to have all my options covered.

They may have flagged it to do that, however its still a request not a guarantee.. 

[soalbundy]

2 hours ago, pontious said:

It is all down to luck. TW cannot, and will not, guarantee the routing.

Well this time it has worked, the partner bank was Bangkok bank. it is true that they can't guarantee it, the email said as much but tagging may improve your chances of success. A few local transfers explained away with a PDF receipt from TW shouldn't harm you (depends on your IO of course) My experience with Thai 'crackdowns' and bureaucracy has shown me that their enthusiasm soon wears off, this is all still new, wait a year and the strictness will melt away like March snow.

Edited August 1, 2019 by soalbundy

[wgdanson]

I can't be arsed with the uncertainty, and maybe having to go to another bank to get an  advise letter etc.

6 x FTTs great, one July SMT = bad. My IO said he would accept it, and my Bkk Bank man said he would put it on the letter for Immigration as a foreign transfer, but I want/need 100% certainty.

I do not need 65k a month to live here, so I just topped my FCA up to over 900k in GBP and I shall leave that there ready for my extension in December. I do have some reserve funds here to live on as I have been accumulating over Bht 20k per month since January. When that runs out, I shall do a one off T'wise to see me through til March,  and it will not matter if it is FTT, SMT or Bahtnet.

Then I shall use the GBP in my FCA after three months in March 2020 for living use until say Bht 450k is left, do one T'wise jobbie, or a Swiftie to top it up to Bht 850 again, plus enough to live on for six months instead of paying for a transfer each month.

I know the Bkk exchange rate is not as good as T'wise, but I will not pay a monthly transfer fee.

Any comments anyone please.

 

Edited August 1, 2019 by wgdanson

[Roger Lorton]

I received a response from Transferwise this morning pluas a get around. 

The response - " We have made arrangements so that the future payments will be sent out via Bangkok Bank - this makes the funds show up as international automatically as it is also your own bank. Please note that we cannot guarantee 100% that this will work each time - we use different partners and in case one of them fails, we use another one and this may cause for the transfer to show up differently still. On most cases it still works, however, and should enable you to meet the requirement for the immigration with your next transfers - if not, I will also list how you can get the FET for some previous payments, below. 

As a sidenote, we transfer funds locally, this is our whole business model - that does bring along an issue with retirees in case of THB, as you noted. We have done our best to help but bear in mind that when using local transfers, it is out of our hands on how the transfer is reflected on the receiving end. In some cases it does show as international, but mostly still local, because it is indeed a local transaction. The option that I described previously, is something that we came up with in attempt to help our customers out.

In case you won't be making any new transfer for the needed amount and need to use a previous one, then follow the steps in our FAQ. 

 

[sumrit]

There appears to be a lot of the usual panicking by some people on various threads here on TV when they have used Transferwise but very little actual facts supplied and it might be helpful to put the problems into perspective.

 

It would be interesting to find out exactly what problems people have PERSONALLY had, how many times they've had them and exactly when they've had them (dates) when using TW, etc.

 

For example, since January this year, when the new Immigration rules came into force, I have made 18 transfers at an average of two per month with a couple of 'test' transfers added. In January I also had my account tagged to use my preferred 'BKKB partner transfer route' whenever possible. Of those 18 transfers, 17 DID go directly to my BKKB account with a FTT coding. Just one payment, on 2nd July, went via the Kasikorn bank with a SMT coding. I contacted both TW and BKKB who both told me the problem occurred during a software update initiated by TW. I was advised to contact TW when making my next transfer to confirm my account was still correctly tagged to use BKKB as my 'partner transfer route' whenever possible (yes I know it's not 100% guaranteed). I have made three transfers since then and ALL have been sent directly to my BKKB account with a FTT coding.

 

For the single 'ROGUE' transfer I contacted the Kasikorn bank and, at a cost of 200 baht, obtained a Credit Advice Receipt which confirms it was an International transfer, which satisfies Immigration. Not Ideal of course but not difficult to do and I can live with using that option once/twice a year.

 

Of course everybody else might have had continual problems and I might be the only one with a virtually smooth passage since January. 

But for those that have used TW it would be useful to know:

 

Did you ask TW to tag your account to use your preferred 'partner bank route' whenever possible?

Assuming your TW account was tagged:

 

• How many times have you made a transfer since January this year?
• How many arrived with the correct coding and how many have not?
• Of the rogue transfers you had, when did they occur? Were they during the TW software update during early July?
• Have any ‘rogue transfers’ occurred at other times even though your account was tagged?

 

For me, I'll keep using TW but just keep a close eye on the coding after each transfer.

[Moonlover]

I have just been signed off for a marriage extension at Sakon Nakhon.

 

My financial package included 21 TransferWise transactions, all of which showed on my bank statement as 'NT' which at Krungsri can mean anything, including domestic.

 

I don't think the IO took the slightest interest in the coding. He could see from the T/W transaction slips that they were all incoming foreign remittances and was quite happy with that.

 

I'm beginning to think that all this chat about the coding is a complete 'red herring'. 

[JDGRUEN]

I use TransferWise Borderless and have for been for about six months. In my BB Account I have been seeing FTT except for the last which said SMART.  I don't know what SMART stands for, except I am pretty sure it is a Domestic Transfer.

 

The real point of my comment is that I use the Android TransferWise App. I was recently helping a friend transfer his funds using this same App on his phone (as he is a bit of a technophobe). 

 

Anyway when we got near the end of the SEND transfer sequence there is a requirement that one choose one of the 6 to 8 options...

 

1St. One is "For Monthly Living Expenses...

 

The last option choice is (paraphrasing) "To help document funds transfer compliance with Thailand Immigration for long term stay"...

 

I can't simulate this and get the exact wording as it requires the actual completion of the funds transfer to Thailand.

 

Has anyone else seen this option? Does anyone know if the option is chosen for the funds transfer... what happens on the other end here in Thailand at bank?

 

 

Edited August 2, 2019 by JDGRUEN
Clarification

[sumrit]

3 minutes ago, JDGRUEN said:

I use TransferWise Borderless and have for about six months. In my BB Account I have been seeing FTT except for the last which said SMART.  I don't know what SMART stands for, except I am pretty sure it is a Domestic Transfer.

 

The real point of my comment is that I use the Android TransferWise App. I was recently helping a friend transfer funds using this same App his phone as he is a bit of a technophobe.  Anyway when we got near the end of the SEND transfer sequence there is a requirement that one choose one of the 6 to 8 options... 1St. One is "For Monthly Living Expenses...

 

The last option choice is (paraphrasing) "To help document funds transfer compliance with Thailand Immigration for long term stay"...

 

I can't simulate this and get the exact wording as it requires the actual completion of the funds transfer to Thailand.

 

Has anyone else seen this option! Does anyone know if the option is chosen for the funds transfer... what happens on the other end here in Thailand at bank?

 

 

I also use the TW app for all transfers. I must admit I haven't seen that option, but then I always just click monthly living expenses and look no further.

 

But I transfer two of my pensions next week so I'll definitely look then and maybe phone them up for a clear explanation.

[racyrick]

4 hours ago, Moonlover said:

I have just been signed off for a marriage extension at Sakon Nakhon.

 

My financial package included 21 TransferWise transactions, all of which showed on my bank statement as 'NT' which at Krungsri can mean anything, including domestic.

 

I don't think the IO took the slightest interest in the coding. He could see from the T/W transaction slips that they were all incoming foreign remittances and was quite happy with that.

 

I'm beginning to think that all this chat about the coding is a complete 'red herring'. 

You were just lucky. Every IO and every Immigration office is different from day to day.

 

Did you not have to furnish a letter from your bank showing all your international transfers in addition to your bank statement?

[sumrit]

2 minutes ago, racyrick said:

You were just lucky. Every IO and every Immigration office is different from day to day.

 

Did you not have to furnish a letter from your bank showing all your international transfers in addition to your bank statement?

Why was he lucky? Show the proof where every IO and every Immigration Office is different from day to day please.

[Moonlover]

1 hour ago, racyrick said:

You were just lucky. Every IO and every Immigration office is different from day to day.

 

Did you not have to furnish a letter from your bank showing all your international transfers in addition to your bank statement?

I produced:

 

1. 12 monthly statements from Krungsri.

2. 21 TransferWise transaction slips, which were matched up with entries on the statements.

3. The standard letter from Krungsri. (which does not show all the transfers)

 

I was asked for in addition;

 

My Krungsri passbook. (which was not up to date)

Proof of income in my home country. I produced 3 pension statements from the UK.

 

And with that he was happy.

 

Was I lucky? I don't think so. I presented a good package that proved I was financially meeting the requirements.

 

I do not understand how anyone can claim that 'every IO in every office is different from day to day'. In my opinion it is just another example of the all pervasive TVF hyperbole.

Edited August 2, 2019 by Moonlover

[treetops]

On 8/2/2019 at 10:33 AM, JDGRUEN said:

Has anyone else seen this option? Does anyone know if the option is chosen for the funds transfer... what happens on the other end here in Thailand at bank?

A similar option is also now available on the website.

 

[lopburi3]

17 minutes ago, treetops said:

A similar option is also now available on the website.

 

And one would expect it acts the same as having account flag to use Bangkok Bank for transfer.  Did not see this month but they did use Bangkok Bank but will use henceforth.  Am sure the number of people suggesting they do something like this, and recent increase in TW customers here, was key to getting it implemented.    

[pontious]

On 8/2/2019 at 5:16 PM, sumrit said:

Why was he lucky? Show the proof where every IO and every Immigration Office is different from day to day please.

As an example Jomtien want a letter from your bank showing foreign transactions. That is not every IO is asking for it but you cannot show me that every IO is NOT different. Most are different. You show me where it is standard.

[pontious]

53 minutes ago, treetops said:

A similar option is also now available on the website.

 

No idea - maybe it will show on the PDF printout. That may be useful.

 

[treetops]

1 minute ago, pontious said:

No idea - maybe it will show on the PDF printout. That may be useful.

No idea regarding what?  I made that post for information only and wasn't asking anything.

[sumrit]

1 hour ago, pontious said:

On 8/2/2019 at 5:16 PM, sumrit said:

Why was he lucky? Show the proof where every IO and every Immigration Office is different from day to day please.

As an example Jomtien want a letter from your bank showing foreign transactions. That is not every IO is asking for it but you cannot show me that every IO is NOT different. Most are different. You show me where it is standard.

Jomtien's requirements are standard for Jomtien.

 

SO, Jomtien are asking for a bank letter showing foreign Transfers while other aren't, they're not asking for proof that isn't required. They haven't said what format the letter should take. Some BKKB branches have said they state SMT codes are international transfers while others have suggested getting a Credit Advice Receipt for the rogue 'SMT' transfers.

 

Just remember (moving areas aside) every single one of us will go to the same Immigration Office and see the same IO's each time for our extensions. It is irrelevant if IO's in other areas interpret things slightly differently, their interpretation will have no effect whatsoever on your application in your local office. If you want to know what the requirements are at your local office, GO ASK THEM........ ie: don't ask or worry about Chang Mai's interpretations if you go to CW, its irrelevant to your application. 

 

And what I can say is, since the 1st July when all people from the UK, US and AU have had to show their income coming into a Thai bank each and every month, there have been several reports on this forum where people have been successful using the monthly income method even though some have used a variety of sources to bring that money to Thailand (some of which just show SMT as the source code and TW receipts for back up) BUT not one single person so far has reported on here being refused an extension with giving lack of proof of the foreign source of their income as the reason for the refusal (eg: that/those transfer(s) were not being classified as international transfers).

 

 

[a977]

On ‎8‎/‎1‎/‎2019 at 11:58 AM, wgdanson said:

I can't be arsed with the uncertainty, and maybe having to go to another bank to get an  advise letter etc.

6 x FTTs great, one July SMT = bad. My IO said he would accept it, and my Bkk Bank man said he would put it on the letter for Immigration as a foreign transfer, but I want/need 100% certainty.

I do not need 65k a month to live here, so I just topped my FCA up to over 900k in GBP and I shall leave that there ready for my extension in December. I do have some reserve funds here to live on as I have been accumulating over Bht 20k per month since January. When that runs out, I shall do a one off T'wise to see me through til March,  and it will not matter if it is FTT, SMT or Bahtnet.

Then I shall use the GBP in my FCA after three months in March 2020 for living use until say Bht 450k is left, do one T'wise jobbie, or a Swiftie to top it up to Bht 850 again, plus enough to live on for six months instead of paying for a transfer each month.

I know the Bkk exchange rate is not as good as T'wise, but I will not pay a monthly transfer fee.

Any comments anyone please.

 

Aren't you the lucky one, all that money and nothing to do with it but skite to the rest of us how well off you are

[jacko45k]

1 minute ago, a977 said:

Aren't you the lucky one, all that money and nothing to do with it but skite to the rest of us how well off you are

Sounds like hand to mouth to me! ????

[Pumpuynarak]

10 hours ago, sumrit said:

It is irrelevant if IO's in other areas interpret things slightly differently, their interpretation will have no effect whatsoever on your application in your local office. If you want to know what the requirements are at your local office, GO ASK THEM........ ie: don't ask or worry about Chang Mai's interpretations if you go to CW, its irrelevant to your application. 

Bingo, i went to my local office (Korat) and saw the boss lady and showed her monthly copies of my SCB account showing the credit transfers coupled with the TW PDF's all tallying up, she was happy and said don't worry you won't have a problem when you renew your retirement extension in Jan 2020.