Transferwise

[zoolander]

I'm looking into applying for a visa based on marriage with bringing in 40 000 a month into a Thai bank.

 

Can someone please confirm the best bank for transferring the money into. I read somewhere there are 3 Thai banks which will show international transfers.

 

Thanks

[CLS]

https://transferwise.com/help/14/currencies/2932335/thb-transfers
 

BBL and Kasikorn are their banking partners.

I personally use BBL. Always tag it as “Funds for long term stay in Thailand”. No issues so far.

[Scouse123]

I just did it two days ago using Transferwise to Krung Thai bank.

 

They transferred the money at a good rate in a day.

 

I will use this service regularly 

 

Also, easy enough to screenshot and print the incoming receipt

 

 

 

Edited July 15, 2020 by Scouse123

[billd766]

2 hours ago, Scouse123 said:

I just did it two days ago using Transferwise to Krung Thai bank.

 

They transferred the money at a good rate in a day.

 

I will use this service regularly 

 

Also, easy enough to screenshot and print the incoming receipt from TW.

 

 

 

You can download the receipt 

[sead]

Transferwise is the one to go

[Laza 45]

When you use TW you have to choose an option for reason for sending... use the bottom one in the drop down menu..  'for visa'.. something like that.. that tags your transfer as an international transfer.. 

[hotandsticky]

4 minutes ago, Laza 45 said:

When you use TW you have to choose an option for reason for sending... use the bottom one in the drop down menu..  'for visa'.. something like that.. that tags your transfer as an international transfer.. 

 

"Funds for long-term stay in Thailand" I think.

[Scouse123]

2 hours ago, billd766 said:

You can download the receipt 

 i will look for that next time.????

 

I was very happy with them A much better alternative than withdrawing with a debit card and getting a bad rate and withdrawal fees at both ends.

[treetops]

Transferwise to Bangkok Bank would be my choice, but no matter which one you chose, get a back up in place for when it goes wrong, as it will do at some point.  TW themself admit they won't guarantee it always shows as an international transfer.

[Steelhammer]

 

On 7/15/2020 at 4:50 PM, Scouse123 said:

I just did it two days ago using Transferwise to Krung Thai bank.

 

They transferred the money at a good rate in a day.

 

I will use this service regularly 

 

Also, easy enough to screenshot and print the incoming receipt

 

 

On 7/15/2020 at 7:28 PM, billd766 said:

You can download the receipt 

Do you also need a "Foreign Exchange Transaction (FET)"-Form from the bank? Or is the receipt from TW enough for IO?

[Sanoook]

Hi all, I am currently in the US, I am not able to tranfer money via Transferwise.

 

Last week I first started using Transferwise sending money from Chase bank to Kasikorn bank and after 1 day of checking the transaction failed and Transferwise deactivated my account. 

 

Second attempt setting up another account and this time sending money from Wells Fargo bank to Bangkok bank and I am frustrated that Transferwise deactivated my account again. 

 

Have I done anything wrong? Any other alternative besides Transferwise?     Thank You.

 

 

 

Edited July 19, 2020 by Sanoook

[4evermaat]

10 hours ago, Sanoook said:

Hi all, I am currently in the US, I am not able to tranfer money via Transferwise.

 

Last week I first started using Transferwise sending money from Chase bank to Kasikorn bank and after 1 day of checking the transaction failed and Transferwise deactivated my account. 

 

Second attempt setting up another account and this time sending money from Wells Fargo bank to Bangkok bank and I am frustrated that Transferwise deactivated my account again. 

 

Have I done anything wrong? Any other alternative besides Transferwise?     Thank You.

 

 

 

 

I assumed you called or emailed TW support.  What reason did TW give for deactivating the account (the first one)?   This was after verifying the account?

 

There is WorldRemit.   But you won't get the international-looking deposit of funds.   (or maybe they do that now).

 

TW if you mark reason for transfer as:  "funds for long term stay in Thailand" they will attempt to deposit it as an international transfer.   If you setup to get SMS alerts whenever international transfer is received, it would look like this: 

 

John Doe has transferred THB16,202.34 (THB16,[email protected] - THB0.00) from abroad into 123XXX890

 

 

 

 

[Pib]

13 hours ago, Sanoook said:

Hi all, I am currently in the US, I am not able to tranfer money via Transferwise.

 

Last week I first started using Transferwise sending money from Chase bank to Kasikorn bank and after 1 day of checking the transaction failed and Transferwise deactivated my account. 

 

Second attempt setting up another account and this time sending money from Wells Fargo bank to Bangkok bank and I am frustrated that Transferwise deactivated my account again. 

 

Have I done anything wrong? Any other alternative besides Transferwise?     Thank You.

 

 

 

Usually, account deactivation is due to an identity verification issue and/or the name being on the acct you are funding a transfer from not matching up with your Transferwise acct name.   Sure hope you didn't try to fund the transfer from someone else's acct....an acct that does not have you name on it anywhere.   And I expect when you tried to open a second TW acct shortly after the 1st one being deactivated that TW quickly figured that out.  You will probably never be able to get an acct with TW now.  

[treetops]

15 hours ago, Sanoook said:

Any other alternative besides Transferwise?

My backup for Transferwise is Xendpay, but I'm in the UK and can't tell you if it's available in the USA.

[Peter Denis]

On 7/19/2020 at 6:47 AM, Steelhammer said:

Do you also need a "Foreign Exchange Transaction (FET)"-Form from the bank? Or is the receipt from TW enough for IO?

Most IOs will accept the TransferWise generated Transfer Receipt (in PDF-format). 

If not, and the transfer did not show up as 'international' on your bank statement / bank-book you will need to contact the partner-bank of TransferWise (BBL, KK or TMB) that handled the transfer, and request a "Foreign Exchange Transaction (FET)"-Form for the non 'international' marked transfers.

[Peter Denis]

@zoolander > Did PM you the relevant TransferWise info and how to ensure that the transfers you make will meet the 'foreign origin' required IO evidence.

[WorriedNoodle]

13 minutes ago, Peter Denis said:

make will meet the 'foreign origin' required IO evidence.

Is the foreign origin required for marriage extensions or can any source of 40k per month be OK?

 

I am using Transferwise to KBank and it always shows as a local transfer in even when I select the option as "retirement in Thailand" on the Transferwise reason, so I currently use the 800k per year method.

Edited July 20, 2020 by WorriedNoodle

[Peter Denis]

3 minutes ago, WorriedNoodle said:

1 - Is the foreign origin required for marriage extensions or can any source of 40k per month be OK?

2 - I am using Transferwise to KBank and it always shows as a local transfer in even when I select the option as "retirement in Thailand" on the Transferwise reason.

1 - Yes, 'foreign origins' of the funds always needs to be proven, when making use of the monthly-income income transfer method and applying for a 1-year extension of stay of your Non Imm O or O-A Visa (both for Retirement as well as for Marriage).

It is also required for the 800K when applying first time in-country for the Non Imm O Visa for reason of retirement, or when applying for the 1-year extension of such a Non Imm O Visa from a Non Imm O acquired abroad.

2 - Yes, and that's because the funds are received by Kasikorn Bank Headquarters and - contrary to how Bangkok Bank handles this - KBank HQ does not provide that information to your local KBank branch, and therefor it turns up as a 'domestic' transfer.

In such case you need to request your local KBank branch to provide you with (free) Credit Advice receipts which will show the routing.  You need to collect these on a monthly basis, because after 3 months a fee will be involved for such 'service'.

 

[Steelhammer]

1 hour ago, Peter Denis said:

1 - Yes, 'foreign origins' of the funds always needs to be proven, when making use of the monthly-income income transfer method and applying for a 1-year extension of stay of your Non Imm O or O-A Visa (both for Retirement as well as for Marriage).

 

And how can I prove that? Tax bills or statements of account?

 

Or has this nothing to do with the prove of source of income?

Edited July 20, 2020 by Steelhammer