Transferwise: Which payment method?

[john terry1001]

On 2/6/2020 at 7:48 PM, Pib said:

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. 

IF TW confirm the transfer is completed/sent before 9:30 am (Thailand time) it will arrive in the Thai bank account the same day. If the confirmation 'sent' email arrives after 9:30am it will arrive in your Thai account the following working day.

 

The 9:25am transfer would have been completed and arrived at the Bangkok bank at that time...but.... Bangkok bank always update their customers personal accounts at about 2:05pm. That's the time it will actually show in your account. The actual update time can vary with other Thai banks.

 

Times are approximate and can vary slightly.

[scubascuba3]

9 hours ago, Chill27 said:

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.

If you use Bangkok Bank and specify "for long term living expenses" or similar wording, it settles as International. To prove it send a small amount and check. This is from UK, I've not read if Oz is the same

[UncleMhee]

I agree with @scubascuba & @john terry1001 re time frames. I send every second Thursday from Oz account using "bank transfer" method.(cheapest) Reason 1: Travel/Reason 2. (next page at very bottom) Funds for long term stay in Thailand. If you're going to open a bank account specifically for these transfers, do consider Bangkok Bank as they are TransferWise's preferred partner.

[Laza 45]

I use a debit card for transfers.. almost immediate if I do it during working hours & not on holidays.. either end.  Other payment methods may be cheaper.. but may take longer.  

 

Near the bottom of the list of reasons for transfer is one for visa requirement.. use that f you want the transfer marked as such.. 

[Chill27]

10 hours ago, scubascuba3 said:

If you use Bangkok Bank and specify "for long term living expenses" or similar wording, it settles as International. To prove it send a small amount and check. This is from UK, I've not read if Oz is the same

Thanks for your response. I have done as you suggested and will see how it is documented when it enters my account.

However I fear that even being marked as "International Transfer" may not be enough to satisfy the requirements that funds have to be converted to Thai Baht, within Thailand!

I think that is the issue when it comes to needing the Foreign Exchange Certificate for property registration at the Land Office.

[john terry1001]

gkok bank

On 2/2/2021 at 7:28 PM, Chill27 said:

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.

 

I use TW to transfer my pensions from my UK bank account to my Bangkok bank account every month and its always recorded as a 'FTT' international transfer and accepted as that by Immigration so the land registry office should also accept it. It also shows as a direct transfer from TW to the Bangkok bank each time on the transfer details on the PDF that's downloadable from TW. 'Deebank' is not even mentioned. If you want to, you can also ask the Bangkok bank to supply you with a Credit advice receipt for that transfer and that will provide you with the total journey of the transaction from TW to the Bangkok bank as further proof.

 

If you are using your own Bangkok account,to make sure everything is set up correctly, firstly phone TW and ask that your Bangkok account is recorded in their system as your preferred route for your future transfers (this only has to be done once, not for every transfer), PLUS choose the funds for long term stay in Thailand as the reason for the transfer. TW told me directly (over the phone) that you must do both of these instructions to ensure the transfer goes directly to the Bangkok bank and not via another of their partner banks (Kasikorn or TMB) in order that 'FTT' is recorded for the transfer.

[scubascuba3]

3 hours ago, john terry1001 said:

gkok bank

 

I use TW to transfer my pensions from my UK bank account to my Bangkok bank account every month and its always recorded as a 'FTT' international transfer and accepted as that by Immigration so the land registry office should also accept it. It also shows as a direct transfer from TW to the Bangkok bank each time on the transfer details on the PDF that's downloadable from TW. 'Deebank' is not even mentioned. If you want to, you can also ask the Bangkok bank to supply you with a Credit advice receipt for that transfer and that will provide you with the total journey of the transaction from TW to the Bangkok bank as further proof.

 

If you are using your own Bangkok account,to make sure everything is set up correctly, firstly phone TW and ask that your Bangkok account is recorded in their system as your preferred route for your future transfers (this only has to be done once, not for every transfer), PLUS choose the funds for long term stay in Thailand as the reason for the transfer. TW told me directly (over the phone) that you must do both of these instructions to ensure the transfer goes directly to the Bangkok bank and not via another of their partner banks (Kasikorn or TMB) in order that 'FTT' is recorded for the transfer.

I forget the exact option, is it "funds for long term stay" or is it "long term living expenses"? I'm pretty sure I chose living expenses recently and it was classed as International 

[Suphawk]

Can I just transfer 65K from my overseas bank each month and call it good? Or do they want to see some proof it's from a pension?

[john terry1001]

44 minutes ago, scubascuba3 said:

I forget the exact option, is it "funds for long term stay" or is it "long term living expenses"? I'm pretty sure I chose living expenses recently and it was classed as International 

Its the last one in the list of options.

[john terry1001]

12 minutes ago, Suphawk said:

Can I just transfer 65K from my overseas bank each month and call it good? Or do they want to see some proof it's from a pension?

You can transfer from overseas each month, but make sure it is at least 65/40 K each and every month. You can't send short one month then make it up in another month, or visa versa. And it must originate from overseas.

 

You may sometimes be asked to show details/proof of where your income originates from when applying for an extension. eg: from a pension, rental income, etc.

[Suphawk]

3 minutes ago, john terry1001 said:

You can transfer from overseas each month, but make sure it is at least 65/40 K each and every month. You can't send short one month then make it up in another month, or visa versa. And it must originate from overseas.

 

You may sometimes be asked to show details/proof of where your income originates from when applying for an extension. eg: from a pension, rental income, etc.

How many months do you need to have the 65K coming in before applying for retirement extention?

[Tanoshi]

9 minutes ago, Suphawk said:

How many months do you need to have the 65K coming in before applying for retirement extention?

Have you changed your TV to a Non O yet?

You can't apply for a 1 year extension unless you have a Non Imm type Visa.

 

In your case, probably 12 monthly transfers, or since you arrived on your TV.

[4evermaat]

maybe it would be easier if you show us the screenshot with the payment options you are seeing (debit card, credit card, ach/local bank transfer, bank wire/swift, googlepay, etc)

 

TR should give you the different options, and an estimate on how long each option takes.

[ubonjoe]

9 minutes ago, Suphawk said:

How many months do you need to have the 65K coming in before applying for retirement extention?

The rules state 12 months of transfers from abroad to apply for a extension.

But there a statement in them that is possible to only have 2 of them for the first extension. But many office have refused to accept only 2 months. There is chance they might accept it if you have a new entry to the country and have not spent time here before.

Whether you need proof of the source to the funds depends upon the office where you apply.

[john terry1001]

1 minute ago, Suphawk said:

How many months do you need to have the 65K coming in before applying for retirement extention?

Assuming it's a new/virgin extension application and you haven't had a previous extension you should be ok with three months. But if you've had a previous extension, even if there has been a break (for return to your home country, because of covid,etc) you will need to twelve months of transfers, or the 800/400K money in the bank option.

 

There has been examples of people leaving Thailand for a relatively short time then returning to get a new visa (usually in order to try and change from an O-A visa to an O visa and have found they must show the 800/400K money in the bank.