TransferWise - foiled again!

[NoshowJones]

2 hours ago, Max69xl said:

No,I mean the "reason for transfer" you have to choose at TW when transferring money. That's what people are talking about. They have added a new reason for people staying in Thailand to make the transfer code show up as foreign = FTT. Still important for the >65k monthly method if you don't have an income letter from the embassy.

No, I was on both the phone and emails with Transferwise all that week, and they kept messing me about, but I know for a fact that monthly methods or income letters had nothing to do with it, they tried to put me on something else different from the last times when my transfers went through without a hitch.

My view still is Transferwise cannot be trusted.

[Max69xl]

18 minutes ago, SunsetT said:

I always select 'general monthly living expenses'.

 

May I ask you if you are charged by BBK for receiving a TW transfer???

 

Then you have missed the reason you should have chosen since July, I think. The correct reason is "Funds for long term stay in Thailand". 

That one is created just to make the transfer code show up as foreign/international. It's the one at the bottom of the list. 

No, I don't pay any fees except to TW. It's because I am not transferring the money myself. 

[Henryford]

This is why it's useless to use the income method. You only need one minor slip up over the 12 months and bang goes your extension. I certainly wouldn't rely on IO being "reasonable" if the exact terms are not met.

[Max69xl]

20 minutes ago, possum1931 said:

No, I was on both the phone and emails with Transferwise all that week, and they kept messing me about, but I know for a fact that monthly methods or income letters had nothing to do with it, they tried to put me on something else different from the last times when my transfers went through without a hitch.

My view still is Transferwise cannot be trusted.

The reason "Funds for long term stay in Thailand" was created because of the problems some people have without the income letter. There's been articles and posts about this for months. And think about it, the three main reasons for using TW are: Better rates,lower fees and faster transfers. I didn't start using them for any other reason. I have been using TW since 2017 without any problem what so ever,and I'm receiving the money as foreign transfers. May I ask which thai bank you're using? 

[SunsetT]

40 minutes ago, possum1931 said:

No, I was on both the phone and emails with Transferwise all that week, and they kept messing me about, but I know for a fact that monthly methods or income letters had nothing to do with it, they tried to put me on something else different from the last times when my transfers went through without a hitch.

My view still is Transferwise cannot be trusted.

Transferwise have introduced and offered some new ways to transfer money and to pay for your transfers such as an international credit/debit card of some sort. They r obviously trying to increase their profits as all companies do.  The transfer payment options have also increased trying to get you to permit them take the payment direct from your bank account when you book the transfer. This has made the website a little trickier to use as they preselect this option as that means they get the money immediately which they obviously want, and you do to if you want your money as fast as possible. But the original 'bank transfer' option is still there to select as the cheapest option which allows you to pay later and cancel or wait beyond the deadline if the exchange rate starts to go up. And from the stronger advice you get now to make payment asap, they are obviously trying to discourage this. But in no way would I consider this as being dishonest to support your claim that "Transferwise cannot be trusted". As I have said before I have never had a problem with them and found them much more direct, upfront and honest and cheaper than other transfer methods I have used, some of which are downright devious.

 

So I will repeat, in my opinion, Transferwise is simply the best and if you use this link to register with them you will get your 1st £500 (or equivalent) transfer FREE:          

 

transferwise.com/u/terencep15

 

 

 

Edited November 2, 2019 by SunsetT

[SunsetT]

15 minutes ago, Max69xl said:

Then you have missed the reason you should have chosen since July, I think. The correct reason is "Funds for long term stay in Thailand". 

That one is created just to make the transfer code show up as foreign/international. It's the one at the bottom of the list. 

No, I don't pay any fees except to TW. It's because I am not transferring the money myself. 

I hadnt noticed that. Thanks for the info.

[Max69xl]

11 minutes ago, Henryford said:

This is why it's useless to use the income method. You only need one minor slip up over the 12 months and bang goes your extension. I certainly wouldn't rely on IO being "reasonable" if the exact terms are not met.

Immigration are already learning about the transfer problems and at some offices they accept the transfer pdf's printouts from TW. Some banks are also more helpful than others when it comes to provide documents showing the transfers as foreign/international. The problem is the bank book with the codes. 

[BritManToo]

17 minutes ago, Henryford said:

This is why it's useless to use the income method. You only need one minor slip up over the 12 months and bang goes your extension. I certainly wouldn't rely on IO being "reasonable" if the exact terms are not met.

Nothing to stop you doing another transfer until you get one marked FTT.

[Max69xl]

9 minutes ago, SunsetT said:

I hadnt noticed that. Thanks for the info.

Just use it next time,and hopefully the transfer will show up as foreign. ????

[Max69xl]

1 minute ago, BritManToo said:

Nothing to stop you doing another transfer until you get one marked FTT.

Or do it old school,using Swift bank to bank. 

[jacko45k]

3 hours ago, Max69xl said:

The transfer might show up as foreign if using the new "reason of transfer", "Funds for long term stay in Thailand". TW created it a few months ago and that way the code will say foreign transfer. 

I don't see how if they are not dealing with that bank directly. I would expect it to 'arrive' at TMB, KK or BB and then be transferred domestically (Smart or Bahtnet). Can't be sure, as I have not done it myself. I recall you like to presume for arguments sake. 

Edited November 2, 2019 by jacko45k

[jacko45k]

1 hour ago, SunsetT said:

May I ask you if you are charged by BBK for receiving a TW transfer???

No.

[SunsetT]

37 minutes ago, Max69xl said:

The correct reason is "Funds for long term stay in Thailand"

This just shows how obliging TW is in going to the trouble of setting up this option just for those needing it in Thailand. Now thats what I call good customer service! And if you register......????????????!

Edited November 2, 2019 by SunsetT

[jacko45k]

26 minutes ago, Henryford said:

This is why it's useless to use the income method. You only need one minor slip up over the 12 months and bang goes your extension. I certainly wouldn't rely on IO being "reasonable" if the exact terms are not met.

I believe Jomtiem will look at supporting paperwork (ie Transferwise print) if your domestic bank cannot confirm it as international.

[Max69xl]

2 minutes ago, jacko45k said:

I don't see how if they are not dealing with that bank directly. I would expect it to arrive at TMB, KK or BB and then be transferred domestically (Smart or Bahtnet). Can't be sure, as I have not done it myself. I recall you like to presume for arguments sake. 

I said "might" show up. I'm sure about the 3 partner banks. But, if people choose a bank, for example Thanachart Bank just because they were able to open an account there, and then have problems with the bank code, is that TW's fault? Not in my book. 

[Max69xl]

6 minutes ago, SunsetT said:

This just shows how obliging TW is in going to the trouble of setting up this option just for those needing it in Thailand. Now thats what I call good customer service! And if you register......????????????!

I agree. TW didn't have to do it. 

[jacko45k]

7 minutes ago, Max69xl said:

I said "might" show up. I'm sure about the 3 partner banks. But, if people choose a bank, for example Thanachart Bank just because they were able to open an account there, and then have problems with the bank code, is that TW's fault? Not in my book. 

I agree, early on Transferwise were unable to 100% guarantee an apparent international transfer, but it seemed to be usual for BB, occasional for KK and heaven knows with TMB, and unlikely for the rest. My first ever TW transfer went to BB via TMB and was not marked at TT. The rest all came 'directly' as TT to my BB acct.. and since, they have added that new drop down 'Funds for Long Term Stay in Thailand (or something like that), which I believe made it pretty certain for the 3 banks they use. 

Edited November 2, 2019 by jacko45k

[Max69xl]

4 minutes ago, jacko45k said:

I agree, early on Transferwise were unable to 100% guarantee an apparent international transfer, but it seemed to be usual for BB, occasional for KK and heaven knows with TMB, and unlikely for the rest. My first ever TW transfer went to BB via TMB and was not marked at TT. The rest all came 'directly' as TT to my BB acct.. and since, they have added that new drop down 'Funds for Long Term Stay in Thailand (or something like that), which I believe made it pretty certain for the 3 banks they use. 

You're correct, and when I registered at TW in 2017, I read everything at their website,even  the fine print regarding transfers. They never promised anything about transfers showing up as foreign,and I didn't give a rats ass about that,and still don't. I just wanted a better rate, lower fees and fast/reliable transfers, and that's what I got. The part that I don't have to pay my bank "back home" any fees, is the best. I have paid a fortune in fees over the years.

[sniggie]

1 hour ago, Henryford said:

This is why it's useless to use the income method. You only need one minor slip up over the 12 months and bang goes your extension. I certainly wouldn't rely on IO being "reasonable" if the exact terms are not met.

This is to a large extent the concern that I originally raised. One would hope that there would be some general leniency provided that the full amount was transferred during the year. I have never been one of the 'they don't want us here' brigade and I would hope that individual IOs wont be looking for the slightest excuse to deny an extension. 

[jacko45k]

2 minutes ago, sniggie said:

I would hope that individual IOs wont be looking for the slightest excuse to deny an extension.

Like starting off with an O-A twenty years ago and not having insurance.....

[Kadilo]

32 minutes ago, sniggie said:

This is to a large extent the concern that I originally raised. One would hope that there would be some general leniency provided that the full amount was transferred during the year. I have never been one of the 'they don't want us here' brigade and I would hope that individual IOs wont be looking for the slightest excuse to deny an extension. 

Even if you bank at one of the 3 chosen TW banks, tag your account with the one you personally bank with so for e.g, it goes KK to KK, BKK to BKK etc, and choose the correct option from the drop down menu, TW cannot 100% guarantee that it will show as an International transfer. 

That I is what their customer services told me on writing. 

 

So for all those getting giddy and sounding like a TW promotions employee, be careful what advice you are giving people who are on the 65,000/month strategy. 
 

Yes, maybe your IO is open minded and will accept receipts as acceptable but theirs may not be so reasonable and play it by the letter of the ruling. IO are not all known for their leniency. 
 

It still the case in my own mind that if I want a 100% cast iron guarantee of it showing as an International transfer then SWIFT is the only option and this so far it has obliged. For me, the risk of getting one dodgy code and the potential hassle that follows is just not worth the saving. 

 

 

 

 

Edited November 2, 2019 by Kadilo

[Somewhere In Time]

1 hour ago, Kadilo said:

Even if you bank at one of the 3 chosen TW banks, tag your account with the one you personally bank with so for e.g, it goes KK to KK, BKK to BKK etc, and choose the correct option from the drop down menu, TW cannot 100% guarantee that it will show as an International transfer. 

That I is what their customer services told me on writing. 

 

So for all those getting giddy and sounding like a TW promotions employee, be careful what advice you are giving people who are on the 65,000/month strategy. 
 

Yes, maybe your IO is open minded and will accept receipts as acceptable but theirs may not be so reasonable and play it by the letter of the ruling. IO are not all known for their leniency. 
 

It still the case in my own mind that if I want a 100% cast iron guarantee of it showing as an International transfer then SWIFT is the only option and this so far it has obliged. For me, the risk of getting one dodgy code and the potential hassle that follows is just not worth the saving. 

 

 

 

 

This

 

SIT

[NoshowJones]

4 hours ago, Max69xl said:

The reason "Funds for long term stay in Thailand" was created because of the problems some people have without the income letter. There's been articles and posts about this for months. And think about it, the three main reasons for using TW are: Better rates,lower fees and faster transfers. I didn't start using them for any other reason. I have been using TW since 2017 without any problem what so ever,and I'm receiving the money as foreign transfers. May I ask which thai bank you're using? 

Bangkok bank.

[NoshowJones]

4 hours ago, SunsetT said:

Transferwise have introduced and offered some new ways to transfer money and to pay for your transfers such as an international credit/debit card of some sort. They r obviously trying to increase their profits as all companies do.  The transfer payment options have also increased trying to get you to permit them take the payment direct from your bank account when you book the transfer. This has made the website a little trickier to use as they preselect this option as that means they get the money immediately which they obviously want, and you do to if you want your money as fast as possible. But the original 'bank transfer' option is still there to select as the cheapest option which allows you to pay later and cancel or wait beyond the deadline if the exchange rate starts to go up. And from the stronger advice you get now to make payment asap, they are obviously trying to discourage this. But in no way would I consider this as being dishonest to support your claim that "Transferwise cannot be trusted". As I have said before I have never had a problem with them and found them much more direct, upfront and honest and cheaper than other transfer methods I have used, some of which are downright devious.

 

So I will repeat, in my opinion, Transferwise is simply the best and if you use this link to register with them you will get your 1st £500 (or equivalent) transfer FREE:          

 

transferwise.com/u/terencep15

 

 

 

I am registered with them, but whether I use them again is a very different story.

[Max69xl]

2 minutes ago, possum1931 said:

I am registered with them, but whether I use them again is a very different story.

If you're transferring money from Europe to Bangkok Bank and choose correct reason for the transfer (that's important) there's no problem. I have used TW since 2017 and I'm also banking with Bangkok Bank. It's easily the best bank when using TW. I also have a K Bank account but I'm using it mostly when I need to buy something with Visa.

[NoshowJones]

32 minutes ago, Max69xl said:

If you're transferring money from Europe to Bangkok Bank and choose correct reason for the transfer (that's important) there's no problem. I have used TW since 2017 and I'm also banking with Bangkok Bank. It's easily the best bank when using TW. I also have a K Bank account but I'm using it mostly when I need to buy something with Visa.

Bangkok bank told me about four days after I transferred the money from my UK bank, that the money would be in my bank at 6pm. That was lies just to keep me quiet.

[JAS21]

38 minutes ago, possum1931 said:

Bangkok bank told me about four days after I transferred the money from my UK bank, that the money would be in my bank at 6pm. That was lies just to keep me quiet.

It obviously failed...

[john terry1001]

To the best of my knowledge (at least nothing's been reported on TV), since the software upgrade and the 'funds for long term stay in Thailand' option being available in July, providing the correct TW procedure is followed, nobody has had a "rogue" internal transfer. It just hasn't happened. BUT, should it occur in the future (eg: your transfer that was supposed to go directly to Bangkok Bank actually went via Kasikorn/TMB you can go to Kasikorn/TMB and get a Credit Advice Receipt to confirm that the transfer originated from overseas, and that is acceptable proof to Immigration. I did exactly that when software problems caused transfers to go via Kasikorn instead of directly to Bangkok bank.

 

Just another little thing TW have arranged with the three Thai banks to help keep peoples concerns at rest that they didn't have to do.

 

It also means, for people who ended up with a local transfer coding because of their own mistake with the transfer process, can still go to that partner bank for a Credit Advice Receipt if Immigration insist one is required. 

 

[Kadilo]

9 minutes ago, john terry1001 said:

To the best of my knowledge (at least nothing's been reported on TV), since the software upgrade and the 'funds for long term stay in Thailand' option being available in July, providing the correct TW procedure is followed, nobody has had a "rogue" internal transfer. It just hasn't happened. BUT, should it occur in the future (eg: your transfer that was supposed to go directly to Bangkok Bank actually went via Kasikorn/TMB you can go to Kasikorn/TMB and get a Credit Advice Receipt to confirm that the transfer originated from overseas, and that is acceptable proof to Immigration. I did exactly that when software problems caused transfers to go via Kasikorn instead of directly to Bangkok bank.

 

Just another little thing TW have arranged with the three Thai banks to help keep peoples concerns at rest that they didn't have to do.

 

It also means, for people who ended up with a local transfer coding because of their own mistake with the transfer process, can still go to that partner bank for a Credit Advice Receipt if Immigration insist one is required. 

 

Once again, that was your experience. 
My personal experience and I know that of others is that when I went to KK to ask for this Credit Advice Receipt, they didn’t have a clue what i was talking about. 

They then passed me onto their phone to someone in their head office who also didnt have a clue so for some it’s just more hassle. 

If people are that determined to use TW for whatever reason, mainly to save a few quid, then I wish them the best of luck, but for people who are saying this option is full proof they are misleading others who may experience the same issues that I and others have. 
 

I am sure TW are doing all they can to give an excellent service but on the issue of guaranteeing International Codes they are not there, and they tell you that themselves in writing. 

[Exploring Thailand]

18 hours ago, SunsetT said:

Transferwise is simply the best! Use this link to sign up and get your 1st £500 transfer FREE:

 

transferwise.com/u/terencep15

 

7 hours ago, SunsetT said:

Transferwise is simply the best! If you register with them using this link you will get your 1st £500 transfer FREE:

 

transferwise.com/u/terencep15

 

6 hours ago, SunsetT said:

So I will repeat, in my opinion, Transferwise is simply the best and if you use this link to register with them you will get your 1st £500 (or equivalent) transfer FREE:          

 

transferwise.com/u/terencep15

How much commission do you get when people use your affiliate code?