Transferwise: Which payment method?

[scubascuba3]

2 hours ago, john terry1001 said:

Is your Kasikorn account tagged with TW as your preferred Thai bank account and did you select 'funds for long term stay in Thailand' as your reason for the transfer?

In the TW PDF that details the transfer what Thai bank is listed in the last section of that PDF?

Like i said for me it wasn't important, useful for others maybe

[john terry1001]

2 hours ago, scubascuba3 said:

Like i said for me it wasn't important, useful for others maybe

It might not be important for you, but after posting to say you didn't have an International transfer coding, it is important for others to know why. 

[Varrius]

On 1/1/2020 at 6:44 PM, SailingHome said:

Perhaps you do not understand. The only thing that works is debit.

Wrong. I alternate all the methods Debit, Bank transfer etc it makes no difference as long as it gets to you Thai bank as an oversees transaction.

[Pib]

On 1/3/2020 at 5:12 PM, Pib said:

Oh well, hopes of a faster transfer were dashed....but maybe your first transfer using your new borderless acct as the funding source just takes longer....I'll probably try another transfer early next week and see what happens.  If the second transfer using my  borderless acct balance does not speed up the funding and completion of the transfer to like one business day then I just stick with using the Bank Debit (ACH) funding method which allows the transfer to complete in 1 or 2 business days based on a half dozen or so transfers I've done that way.  No use letting my money set in a Transferwise borderless acct earning zero interest and having less protection in comparison to letting it set in my US bank.

Update on using my new borderless acct to fund a transfer:  The first transfer funded from my borderless acct balance arrived today/6Jan/Monday at 2:01pm to my Bangkok Bank acct.  ALL of my Transferwise transfers to my Bangkok Bank acct have always posted just a minute or two after 2pm.   I initiated the transfer on Friday/3Jan/Friday at 10:21am.   So excluding the weekend (non business days) it took one business day or about 28 business hours. 

 

And then this morning at 9:50am I initiated another transfer funded from my borderless acct balance and the immediate status given was it will arrive tomorrow.  Was hoping it might say will arrive today.....maybe in over a little about 4 hours which would be 2pm.  But no, it said it will arrive tomorrow....and I fully expect it will....it will probably post a minute or two after 2pm just like all other past Transferwise transfers to my Bangkok Bank acct.

 

Assuming the second transfer funded from my borderless acct balance does arrive tomorrow (it should) that means funding from my borderless acct does "not" result in the transfer completing within minutes or a few hours.  Maybe it does for others, but not for me. 

 

Actually funding the transfer this way is very similar to the one or two day transfer completion time I get when just using a Bank Debit (ACH) to fund the transfer...that is, funds are pulled from my US bank acct to fund the transfer.

 

[john terry1001]

1 hour ago, Pib said:

And then this morning at 9:50am I initiated another transfer funded from my borderless acct balance and the immediate status given was it will arrive tomorrow.  Was hoping it might say will arrive today.....maybe in over a little about 4 hours which would be 2pm.  But no, it said it will arrive tomorrow....and I fully expect it will....it will probably post a minute or two after 2pm just like all other past Transferwise transfers to my Bangkok Bank acct.

 

Assuming the second transfer funded from my borderless acct balance does arrive tomorrow (it should) that means funding from my borderless acct does "not" result in the transfer completing within minutes or a few hours.  Maybe it does for others, but not for me. 

If you initiate the transfer before 8:00am Thailand time is should arrive in you Bangkok bank the same day. Do it after 8:00am and it cant be guaranteed. The one time I didn't start the transfer util about 9:20am they advised in the email it would arrive the next day.

 

I always initiate my transfers at around 7:45am, get the first 'money received, acknowledged' email within 2-3 minutes and the 'money sent' email within about an hour to confirm the transfer has arrived at the Bangkok Bank. Bangkok Bank then update my account at around 2:pm the same day as usual.

[Pib]

13 minutes ago, john terry1001 said:

If you initiate the transfer before 8:00am Thailand time is should arrive in you Bangkok bank the same day. Do it after 8:00am and it cant be guaranteed. The one time I didn't start the transfer util about 9:20am they advised in the email it would arrive the next day.

 

I always initiate my transfers at around 7:45am, get the first 'money received, acknowledged' email within 2-3 minutes and the 'money sent' email within about an hour to confirm the transfer has arrived at the Bangkok Bank. Bangkok Bank then update my account at around 2:pm the same day as usual.

Just to confirm....are you funding the transfer from the balance in your borderless acct.....or are you funding a different way like how UK folks "push" money to fund the acct using the Faster Payment Service which is pretty much a real time transfer system.

[john terry1001]

32 minutes ago, Pib said:

Just to confirm....are you funding the transfer from the balance in your borderless acct.....or are you funding a different way like how UK folks "push" money to fund the acct using the Faster Payment Service which is pretty much a real time transfer system.

Yes, I push my transfers from my UK bank account, but according to TW once the funds are deposited with TW (whether it by UK style transfer or by loading funds in a borderless account with adequate funds) there is no real difference in the speed of the the transfer. The main difference is the initial transfer of funds from your US account to your borderless account.  

 

1. When pushing UK style we initiate the transfer process via the app/website and the transfer process begins as soon as the funds are received.

 

2. With a borderless account (assuming the funds are already in the account) you simply access that account directly and arrange the immediate transfer of those funds.

 

With initiating both types of transfers, if both are started at the same time of the day, the transfer time should be the same

[Pib]

5 minutes ago, john terry1001 said:

2. With a borderless account (assuming the funds are already in the account) you simply access that account directly and arrange the immediate transfer of those funds.

This is my case....money to fund the transfer already setting in US Transferwise boderless acct.  But so far, my 1st transfer initiated at 10:21am arrived next business day at 2pm.  The 2nd transfer initiated today at 9:50am shows an arrival status of tomorrow which will end up being at 2pm. 

 

Would be nice to know/figure out what the cutoff times are to allow transfer completion same day assuming a transfer is immediately funded from a person's borderless acct balance or real time push/arrival of funding.  I'm sure Transferwise has a cutoff time....and it probably cutoff times based on what country the funds are being sent from and which country the funds are going to.

 

This week I'll probably try one more transfer so my curiosity will not kill me...do a transfer like at 7:30am and see if it arrives same day at 2pm....or once again, turns out to be a next day arrival.  My curiosity is making Transferwise rich in transfer fees.  ????

[Pib]

On 1/3/2020 at 5:12 PM, Pib said:

Oh well, hopes of a faster transfer were dashed....but maybe your first transfer using your new borderless acct as the funding source just takes longer....I'll probably try another transfer early next week and see what happens.  If the second transfer using my  borderless acct balance does not speed up the funding and completion of the transfer to like one business day then I just stick with using the Bank Debit (ACH) funding method which allows the transfer to complete in 1 or 2 business days based on a half dozen or so transfers I've done that way.  No use letting my money set in a Transferwise borderless acct earning zero interest and having less protection in comparison to letting it set in my US bank.

 

And below partial quote from the Transferwise US Customer Agreement is why I will never let much money set in my Borderless Acct for more than a short while....will just use it as a transitory acct for transfers.

https://transferwise.com/us/terms-of-use-tw-inc

Quote

 

Holding A Balance in your Borderless Account

TransferWise is not a bank and your Borderless Account is not a bank account.  The specified bank account details that we provide to you in order for you to receive funds from third parties are for accounts held by TransferWise and its affiliates (and we will credit your Borderless Account, which is held by us, upon receipt of such funds), and are not for a bank account held by you. Value held as a balance in your Borderless Account represents an unsecured claim against TransferWise and is not insured by the Federal Deposit Insurance Corporation (FDIC) or any other deposit protection scheme. TransferWise invests balances held by its customers in permissible investments in accordance with state money transmitter laws. TransferWise owns the interest or other earnings on these investments, if any. TransferWise does not use balances held by its customers for operating expenses or other corporate purposes and will not voluntarily make such funds available to its creditors in the event of bankruptcy. For further information on how we look after your money, please visit our Frequently Asked Questions page.

 

 

[Pib]

On 1/6/2020 at 6:08 PM, Pib said:

This is my case....money to fund the transfer already setting in US Transferwise boderless acct.  But so far, my 1st transfer initiated at 10:21am arrived next business day at 2pm.  The 2nd transfer initiated today at 9:50am shows an arrival status of tomorrow which will end up being at 2pm. 

 

Would be nice to know/figure out what the cutoff times are to allow transfer completion same day assuming a transfer is immediately funded from a person's borderless acct balance or real time push/arrival of funding.  I'm sure Transferwise has a cutoff time....and it probably cutoff times based on what country the funds are being sent from and which country the funds are going to.

 

This week I'll probably try one more transfer so my curiosity will not kill me...do a transfer like at 7:30am and see if it arrives same day at 2pm....or once again, turns out to be a next day arrival.  My curiosity is making Transferwise rich in transfer fees.  ????

And the third transfer I initiated this morning at 4:40am (couldn't sleep...woke-up...decided to try an O-dark early transfer) which was funded from my borderless acct arrived today to my Bangkok Bank acct at 2pm.  A little over 9 hours....hit the timing gates better I guess.   All three transfers received FTT/International Transfer coding, but I have my Thai bank accts "tagged" with Transferwise and also use the Long Stay Thailand purpose of transfer.

 

Still not sure what the cutoff time is to get a transfer same day when you can immediately fund a transfer like funding it from your borderless acct. I expect that will depend on the sending country, time of day the Thai bank posts Transferwise transfers since it appears Bangkok Bank only does it once a day at 2pm, and other factors.  But one thing for sure I will not be getting up at O-dark early in the morning to initiate a transfer just to shave-off a few hours from the transfer time.  I'll do that before I go to bed as the end result will still be the same with the funds arriving my Bangkok Bank acct around 2pm next business day.

 

Also, in doing a couple test ACH "Pushes" from my US bank to my Transferwise borderless acct I found it takes 2 business days for the funds to post to my borderless acct.  Doing an ACH Push from my US bank is free....the great majority of US banks do not charge any ACH sending/receiving fee; but some of the more fee-evil US banks do charge a low ACH sending fee like how Bank of America charges $3 for a three day ACH transfer.

 

So, if I top-up my borderless acct via ACH Push a few business days before I need to do a Transferwise transfer, I can avoid the Transferwise Bank Debit (ACH) sending fee. The current Transferwise Bank Debit (ACH) sending fee is 0.35% of the amount you are sending. 

 

Example: for a $2,500 transfer the Transferwise Bank Debit (ACH) (a.k.a., ACH Pull) funding fee would be $8.72 plus their $18.56 Our Fee for a total of $27.28 in fees.  However, if funding the $2,500 transfer from my borderless acct the total fee is $18.33.   A $8.95 savings.

https://transferwise.com/us/pricing/

 

OK, now that I have my borderless acct set-up along with several test transfers funded by the borderless acct balance and test ACH Pushes to my borderless acct I can say I'm setup "just a little better" in ways to transfer/get money.  Basically, I have just added and tested a new tool for my money sending/getting toolbox.  More tools the better as you never know when some old trusty tool used for many years breaks with little or no advance notice or gets too expensive to use.

 

[john terry1001]

1 hour ago, Pib said:

And the third transfer I initiated this morning at 4:40am (couldn't sleep...woke-up...decided to try an O-dark early transfer) which was funded from my borderless acct arrived today to my Bangkok Bank acct at 2pm.  A little over 9 hours....hit the timing gates better I guess.   All three transfers received FTT/International Transfer coding, but I have my Thai bank accts "tagged" with Transferwise and also use the Long Stay Thailand purpose of transfer.

 

Still not sure what the cutoff time is to get a transfer same day when you can immediately fund a transfer like funding it from your borderless acct. I expect that will depend on the sending country, time of day the Thai bank posts Transferwise transfers since it appears Bangkok Bank only does it once a day at 2pm, and other factors.  But one thing for sure I will not be getting up at O-dark early in the morning to initiate a transfer just to shave-off a few hours from the transfer time.  I'll do that before I go to bed as the end result will still be the same with the funds arriving my Bangkok Bank acct around 2pm next business day.

Glad you've finally got a 'received the same day' transfer completed.

 

I understand that the US ACH system can delay a transfer from you're own account to TW but that's out of TW's hands so needs planning, but at least there appears to be a reliable and consistent process timewise that will also result in an International coding that's acceptable to Immigration.

 

As I've said before to initiate a same day receipt I've found always found I've needed to initiate the transfer at the TW end before 8:00am Thailand time. I usually do it around 7:45am (but almost always between 6:00am and 8:00am).

 

After 8:00am and the initial email will tell me it'll be a next day transfer. One time (last July) when I wanted to speak to TW about a transfer but didn't want to wait until their UK office was open, I phoned their Australian office instead. The TW representative there told me that, regardless of where in the world you hold your TW account, their finance department that initiates the actual transfers is linked so 'work from the same clock'.

 

Looking at other posts on here over the past months, it does appear to work that way. Transfers initiated before 8:00am Thai time are received same day regardless of where they're sent from. Anybody sending after 8:00am usually receives the transfer next day.

[Pib]

2 minutes ago, john terry1001 said:

Looking at other posts on here over the past months, it does appear to work that way. Transfers initiated before 8:00am Thai time are received same day regardless of where they're sent from. Anybody sending after 8:00am usually receives the transfer next day.

STOP IT...STOP IT I SAY!!!!  You are raising my curiosity too much....so, much I just may have to initiate a transfer a few minutes before 8am to see if it arrives same day.....and my curiosity is making Transferwise rich.    ????   

 

My only problem is I usually lounge around in bed to around 8:30am every morning....initiating a transfer so early would be too much work for a late sleeper (unless I have another had-to-sleep night).

[Pib]

Yesterday evening I decided I would do an ACH Push of a little more money from my US bank to my TW borderless acct as my borderless acct was empty.  Initiated the ACH Push 9 Jan at 5:58pm.  Based on previous ACH Pushes over the last week figure it would arrive in one or two full business days.

 

But the following morning/10 Jan/today at 5:05am I got a TW email saying the ACH Push had deposited to my borderless acct.   Wow.....my fastest ACH Push yet....less than 12 hours....must had hit the timing gates just right.

 

So, with money now in my borderless acct, I decide to do another TW transfer to my Bangkok Bank acct....wanted to do it just a little before 8am since jerry terry1001 said from his transfer experience he thinks 8am is the cutoff time to get the money same day if you can also immediately fund the transfer

 

So, I initiated the transfer at 7:50am...in a few seconds TW was saying the money will arrive within three hours which would be around 11am but I knew that really just meant they would finalize the transfer instructions to their partner bank by that time.....and then it takes X-amount of time for their partner bank to react....kinda like handing off the relay baton to another runner.  Like "all" of my TW transfers have posted just a minute or two after 2pm.   It appears 2pm is when Bangkok bank do their daily posting of TW transfers....do it in a batch process.  

 

Anyway at 2:01pm the funds posted to my Bangkok Bank acct.   So, today's transfer took a total of 6 hours & 10 minutes.  Heck, that SWIFT transfer speed.

 

Next week I'll probably initiate one more transfer like around 8:25am to see if I get same day delivery or next day.  If it says next day then I will feel very confident based on my experience and john terry1001's experience that if a person initiates and funds a transfer by 8am Thailand time then you can get it same day (or should most of the time).   

 

Now if I do get it same day then I will probably test some more to narrow down the cutoff time.   I already know a transfer initiated at 9:50am results in a next day delivery....and I now know a transfer initiated at 7:50am arrives same day.  So, from my personal transfer experience I have the cutoff time narrowed down to somewhere between 7:50am to 9:50am.  The cutoff time will probably be 8am just like john terry1001 said.

 

And all four of my TW test transfers over the last week to Bangkok Bank were coded as International Transfer/FTT.  I have my Bangkok Bank acct "tagged" with TW and also select the Long Stay Thailand reason for transfer.

 

 

 

[edwinchester]

On 1/1/2020 at 6:44 PM, scubascuba3 said:

I did a bank transfer from UK 2 weeks ago and it took 15 minutes from instruction to settlement

Yes TransferWise have really got their act together for us Brits lately.

Last week I hit the pay button to transfer to them from my UK bank and within a few seconds I got an SMS from my Thai bank saying I had received the deposit!

[john terry1001]

5 minutes ago, edwinchester said:

Yes TransferWise have really got their act together for us Brits lately.

Last week I hit the pay button to transfer to them from my UK bank and within a few seconds I got an SMS from my Thai bank saying I had received the deposit!

  Yes, TW are impressive these days. And top it all (I think) they are the only finance house anywhere that actually listened to our concerns a year ago when Immigration changed the requirements, then actually changed their transfer process to help and accommodate all of us. That's customer service.

 

Can you say what time (Thailand time) you initiated the transfer?

 

I've found that if the transfer is initiated before 8:00am it will arrive on the same day but if initiated later than that it's likely to arrive next day. 

 

One of our American posters, Pib, is trying to narrow down the cut off time for same day/next day transfers when using TW even more than I have done so far. Your info might help him.

[edwinchester]

10 minutes ago, john terry1001 said:

  Yes, TW are impressive these days. And top it all (I think) they are the only finance house anywhere that actually listened to our concerns a year ago when Immigration changed the requirements, then actually changed their transfer process to help and accommodate all of us. That's customer service.

 

Can you say what time (Thailand time) you initiated the transfer?

 

I've found that if the transfer is initiated before 8:00am it will arrive on the same day but if initiated later than that it's likely to arrive next day. 

 

One of our American posters, Pib, is trying to narrow down the cut off time for same day/next day transfers when using TW even more than I have done so far. Your info might help him.

Transfer was made 8.30am Thai time.

I use Kasikorn Bank which I hear is quicker than usual but no idea why.

[VBF]

1 hour ago, edwinchester said:

Transfer was made 8.30am Thai time.

I use Kasikorn Bank which I hear is quicker than usual but no idea why.

If it helps, last week I transferred a "test" amount of £10 because I haven't used my TW account in a while.

I sent it from my UK bank, using Faster Payments on 02-01-2020 at approx. 09:20 

It had reached my SCB account when I logged in at 09:35!!! (Thai Time is GMT + 7 in case you didn't know)

[Pib]

On 1/10/2020 at 6:20 PM, Pib said:

Yesterday evening I decided I would do an ACH Push of a little more money from my US bank to my TW borderless acct as my borderless acct was empty.  Initiated the ACH Push 9 Jan at 5:58pm.  Based on previous ACH Pushes over the last week figure it would arrive in one or two full business days.

 

But the following morning/10 Jan/today at 5:05am I got a TW email saying the ACH Push had deposited to my borderless acct.   Wow.....my fastest ACH Push yet....less than 12 hours....must had hit the timing gates just right.

 

So, with money now in my borderless acct, I decide to do another TW transfer to my Bangkok Bank acct....wanted to do it just a little before 8am since jerry terry1001 said from his transfer experience he thinks 8am is the cutoff time to get the money same day if you can also immediately fund the transfer

 

So, I initiated the transfer at 7:50am...in a few seconds TW was saying the money will arrive within three hours which would be around 11am but I knew that really just meant they would finalize the transfer instructions to their partner bank by that time.....and then it takes X-amount of time for their partner bank to react....kinda like handing off the relay baton to another runner.  Like "all" of my TW transfers have posted just a minute or two after 2pm.   It appears 2pm is when Bangkok bank do their daily posting of TW transfers....do it in a batch process.  

 

Anyway at 2:01pm the funds posted to my Bangkok Bank acct.   So, today's transfer took a total of 6 hours & 10 minutes.  Heck, that SWIFT transfer speed.

 

Next week I'll probably initiate one more transfer like around 8:25am to see if I get same day delivery or next day.  If it says next day then I will feel very confident based on my experience and john terry1001's experience that if a person initiates and funds a transfer by 8am Thailand time then you can get it same day (or should most of the time).   

 

Now if I do get it same day then I will probably test some more to narrow down the cutoff time.   I already know a transfer initiated at 9:50am results in a next day delivery....and I now know a transfer initiated at 7:50am arrives same day.  So, from my personal transfer experience I have the cutoff time narrowed down to somewhere between 7:50am to 9:50am.  The cutoff time will probably be 8am just like john terry1001 said.

 

And all four of my TW test transfers over the last week to Bangkok Bank were coded as International Transfer/FTT.  I have my Bangkok Bank acct "tagged" with TW and also select the Long Stay Thailand reason for transfer.

 

 

 

Update: My continued testing of how late I can initiate & fund a Transferwise transfer from the US continues.   Today I initiated & funded from my Borderless acct a transfer at 8:26am Thailand time to my Krungsri Bank vs my Bangkok Bank acct.  I used the Long Stay Visa....Thailand reason for transfer.  Transferwise status said it would arrive today but could take up to 6 hours.  The transfer posted to my Krungsri acct at 1:20pm as a local transfer.  A total time of a few minutes less that 5 hours.  

 

On the Transferwise PDF Receipt it shows Bangkok Bank was used as the partner bank as I expected because last year I had requested Transferwise "tag" my Recipients/Transfers to always use Bangkok Bank as the partner bank to complete the final leg of the transfer. 

 

Maybe if I didn't have my transfers tagged to always use Bangkok Bank as the partner bank they would arrive a little faster...who knows.  But I have my Recipients tagged to use Bangkok Bank as the partner bank to help ensure I get International Transfer/FTT coding when transferring to my Bangkok Bank accts.  I already knew that tagging don't help to get international transfer coding if sending to my other Thai bank of Krungsri.

 

So, I now I know from my earlier transfers I talked in this thread and today's transfer the cut off time to get same day transfer from the US when you immediately fund the transfer from your Borderless acct balance appears to be somewhere between 8:26am and 9:49am Thailand time.  My next test will be for a transfer initiated and immediately fund between 8:30am and 9:00am Thailand time. 

 

 

[Old Croc]

I initiated a transfer of $10,000 from Australia at about 0200am this morning Thai time.

TransferWise had it in my K bank account at 0837am!

[Pib]

1 minute ago, Old Croc said:

I initiated a transfer of $10,000 from Australia at about 0200am this morning Thai time.

TransferWise had it in my K bank account at 0837am!

I expect on your Transferwise PDF Receipt (the detaled one) in the Paid Out From section it will show K-bank was the partner bank used to accomplish the final leg of the transfer to your bank acct also at K-bank? 

 

Based on other posts it seems when K-bank is both the partner bank and receiving bank the transfers happen fast.....or when K-bank is the partner bank and relaying to another receiving bank.  Seems K-bank immediately processes Transferwise transfers but when Bangkok Bank is used as the partner bank that Bangkok Bank waits until around 1:30pm to 2pm to batch process Transferwise transfers.

 

 Also expect K-bank waited till 8:37am to post the funds since the bank's opening time is 8:30am.

 

[Old Croc]

Just now, Pib said:

I expect on your Transferwise PDF Receipt (the detaled one) in the Paid Out From section it will show K-bank was the partner bank used to accomplish the final leg of the transfer to your bank acct also at K-bank? 

 

Based on other posts it seems when K-bank is both the partner bank and receiving bank the transfers happen fast.....or when K-bank is the partner bank and relaying to another receiving bank.  Seems K-bank immediately processes Transferwise transfers but when Bangkok Bank is used as the partner bank that Bangkok Bank waits until around 1:30pm to 2pm to batch process Transferwise transfers.

 

 Also expect K-bank waited till 8:37am to post the funds since the bank's opening time is 8:30am.

 

I have no interest in partner banks nor coding's used for the transfer.  Not everyone uses the 65,000 a month method. The amount I just transferred in one go should give a clue.

 

[Pib]

25 minutes ago, Old Croc said:

I have no interest in partner banks nor coding's used for the transfer.  Not everyone uses the 65,000 a month method. The amount I just transferred in one go should give a clue.

 

My question was not regarding what method (month income or large deposit) you use to get your annual extension of stay, but trying to figure out if the TW "partner bank" used for a transfer determines transfer speed. 

 

And the only way in trying to figure that out is to ask folks what partner bank was used for their transfers especially when they say the got the transfer within minutes or hours.  That's what I'm asking.

[Old Croc]

13 minutes ago, Pib said:

My question was not regarding what method (month income or large deposit) you use to get your annual extension of stay, but trying to figure out if the TW "partner bank" used for a transfer determines transfer speed. 

 

And the only way in trying to figure that out is to ask folks what partner bank was used for their transfers especially when they say the got the transfer within minutes or hours.  That's what I'm asking.

Sorry about that, I did see a question mark at the end of your first para, but other than that it didn't appear to be a question, rather an expectation.

The partner bank was Kasikorn.

[scubascuba3]

Anyone used Transferwise to transfer the 800k? I guess using Bangkok Bank should be painless? I've just sent a test amount, messaged them and asked for it to be tagged, then I'll transfer the money

[treetops]

On 1/30/2020 at 4:15 AM, Pib said:

My question was not regarding what method (month income or large deposit) you use to get your annual extension of stay, but trying to figure out if the TW "partner bank" used for a transfer determines transfer speed. 

 

And the only way in trying to figure that out is to ask folks what partner bank was used for their transfers especially when they say the got the transfer within minutes or hours.  That's what I'm asking.

My transfers have typically taken a day or so, so I was surprised to see one a few days ago promise it in 55 minutes but actually take only a few seconds.  I'm with Bangkok Bank and the partner bank was Kasikorn.

[scubascuba3]

19 minutes ago, treetops said:

My transfers have typically taken a day or so, so I was surprised to see one a few days ago promise it in 55 minutes but actually take only a few seconds.  I'm with Bangkok Bank and the partner bank was Kasikorn.

Transfers take minutes if i just use Kasikorn and being "International" isn't required. If i want "international" i use Bangkok Bank, for long term living expenses and it settles the next day

[Pib]

Sure seems if Transferwise uses K-bank as the partner bank for the transfer that K-bank processes it on immediately.  Whereas, if Bangkok Bank is used as the partner bank the processing is done once a day in the 1:30pm to 2:30pm ballpark.  

[Pib]

On 1/29/2020 at 7:31 PM, Pib said:

Update: My continued testing of how late I can initiate & fund a Transferwise transfer from the US continues.   Today I initiated & funded from my Borderless acct a transfer at 8:26am Thailand time to my Krungsri Bank vs my Bangkok Bank acct.  I used the Long Stay Visa....Thailand reason for transfer.  Transferwise status said it would arrive today but could take up to 6 hours.  The transfer posted to my Krungsri acct at 1:20pm as a local transfer.  A total time of a few minutes less that 5 hours.  

Did another test today to my Bangkok Bank acct primarily to test what the latest I can initiate & fund and still receive same day. 

 

Initiated & funded from my borderless acct.....launched at 8:57am....Bangkok Bank used as the partner bank....posted to my Bangkok Bank acct at 2:01pm.....5 hrs and 4 minutes.  It's always an approx 2pm thing with Bangkok Bank as the partner bank. 

 

So, I now know the cutoff time for same day arrival with Bangkok Bank as the partner bank and assuming you fund immediately like from your borderless acct is not 8:30am but possibly 9:00am.  Next transfer test will be after 9:00am...probably around 9:25am. 

 

I already know from an earlier test that launching a transfer at 9:50am resulted in next day deliver.    So it appears the cutoff time is somewhere between 8:58am and 9:49am Thailand time.  Probably going to be either 9:00am or 9:30am.

 

 

[Pib]

I think I have figured out the cutoff time to get same day transfer from the US.  Today/6 Feb I did another TW transfer immediately funded from my TW Borderless Acct Balance....initiated & funded the transfer at 9:25am.  As mentioned earlier I have my Recipients tagged to use Bangkok Bank as the partner bank and I also selected the Long Stay/Visa Thailand purpose of transfer. 

 

Just before clicking the final button it was saying delivery today/6 Feb...and when clicking the final button it still said delivery today/6 Feb.   And it even said delivery in 33 minutes but also said the receiving bank could take up to 5 hours to process the transfer. 

 

OK, transfer launched...I go do something for 15 minutes or so.  Around 9:45am I started another transfer with no intention of clicking the final button, but now instead of saying delivery today/6 Feb it was saying delivery tomorrow/7 Feb....that is, no-can-do same day....will arrive next business day.

 

Back to the transfer I did launch.  The transfer launched at 9:25am did post to my Bangkok Bank acct today at 2pm....basically the transfer took approx 4.5 hours.

 

So, it appears the TW cutoff time to receive same day when immediately funding a USD to THB transfer is 9:30am Thailand time. 

 

However this is based on my test for low dollar amount test transfers (i.e., around $10-$20); I expect when transferring certain higher amounts like over $1,950 that an extra day would be thrown in.  I say over $1,950 because right now at 7:40pm/6 Feb Thailand time if I go to the TW website to check exchange rate/arrival time if I send "$1,950 or less" the site says delivery tomorrow/7 Feb; but when I enter $1950.01 (just one extra penny) the transfer time is increased by one "business" day.   I've seen this $1,950 trigger point numerous times before when playing around with TW.

 

Anyway, appears "9:30am Thailand time is the TW cutoff time" for same business day transfer of USD-THB to your Thai bank..."or at least when Bangkok Bank is going to be used as the partner bank" completing the final leg to the transfer to any Thai bank (even to a Bangkok Bank acct).

 

 

[Chill27]

Hi Guys,

Hoping someone can very kindly help me out here.

Looking to build a property in Samui, building is to be registered in my name, so I need Foreign Exchange transfer proof for Registration purposes at the Land office.

I always use TransferWise to transfer funds to my GF's Bangkok Bank account.

Partner Bank for the Transfer has normally been quoted as Kasikorn, now the last transfer is shown as being from Deebank.

So my question is, how can I transfer funds to my own Bangkok Bank Account, from either the UK, or Australia, and be sure that it has the required International Transfer Coding ? What does this coding even look like?

I would open an account with Kasikorn if that would help, but now the partner Bank seems to have changed to Deebank!

Many thanks if someone could clarify things for me.