TransferWise - Coding Issues for Immigration

[Shannoblic]

In a recent topic using TransferWise was discussed.  I requested advice in the forum relating to the code of a transfer and was advised to use the "transfer for long term residency in Thailand" option as a reason for transferring money in Transferwise.

 

On Wednesday I transferred £200 to my Kasikorn Bank savings account to try this out.  The money was transferred from the UK within minutes but the transaction code when I updated my book in the afternoon was TRN which - according to my bank book - the 'TR' is 'Cheque or Transfer' with the 'N' meaning 'No Book Transfer'.

 

I rang Transferwise on Wednesday afternoon and spoke to a very polite young lady but she could not help me with advice on how to get a code which showed the transfer was international.

 

Can anyone please advise me how to ensure that my monthly transfers appear in a code which shows they are international. 

 

Thank you.

[Sheryl]

This was extensively discussed in multiple threads when the new immigration police order came out. Suggest you do a search.

 

TW uses several different banks to make its transfers and if they use one that is not the final bank of destination it will show up as a domestic transfer. You need to specifically request that they use Kasikorn  for the transfer and people have been able to do this.

 

Meanwhile since thsi transfer came in coded as domestic, go to your bank and request a copy of the "Credit Advice" which will hopefully show the point of origin as overseas. Later when it comes time to get a statement from the bank you can show this to hopefully pursuade them to document that this came from abroad.

[Shannoblic]

Thank you Sheryl,

 

One question - how do I 'specifically' request TransferWise to use one bank?  The young lady I spoke to never mentioned this and I really don't know how to do it.

 

Thank you for trying to help me.

[ubonjoe]

The reason you do not get the international code is that Kasikorn Bank does them as domestic transfer when transferring it to your account after it comes into the country. You can get a credit advise that will show it as a international transfer.

As far as I know Bangkok Bank is the only one that shows them as a international transfer.

 

[lopburi3]

Most of us use Bangkok Bank and if deposited directly to them it will be coded as a foreign transfer.  You can download the Transferwise statement which will show foreign origin and may be accepted by immigration or as above obtain credit advise for any such transactions.  From most reports coding has not been a major issue with immigration as long as deposit is made and shown on yearly statement and some form of pension information can be provided if asked.

[Shannoblic]

Thank you UbonJoe.  Do I simply as the bank for a credit advice?

[ubonjoe]

4 minutes ago, Shannoblic said:

One question - how do I 'specifically' request TransferWise to use one bank? 

The selection of "transfer for long term residency in Thailand" normally means it will goes to the bank you select if they are one of their partner banks.

[Shannoblic]

Thank you lopburi3.  I can print and show my pensions going into NationWide in the UK and the payments to Transferwise.   The dates of my Transferwise payments and the receipts in the Thai bank coincide normally within a day or so.

[ubonjoe]

2 minutes ago, Shannoblic said:

Do I simply as the bank for a credit advice?

Yes

You can set it up ay some banks to send you a email with the info every time you do a transfer.

[scubascuba3]

Better to just open a Bangkok Bank account and stop the pain, then select "transfer for long term residency in Thailand"

[Shannoblic]

Thank you everyone for your advice.  Things are clearer now.

[KhunBENQ]

Though I not depend on: I receive money to Bangkok Bank as described above.

Has anyone tried to print and show the "PDF Receipt"(s) that Transferwise supplies?

Edited August 21, 2020 by KhunBENQ

[ubonjoe]

19 minutes ago, KhunBENQ said:

Has anyone tried to print and show the "PDF Receipt"(s) that Transferwise supplies?

I can recall posts stating immigration accepted them to apply for an extension.

[KhunBENQ]

2 minutes ago, ubonjoe said:

I can recall posts stating immigration accepted them to apply for an extension.

A bit hidden in Transferwise but you can find it.

Looks like this:

(second page cut short)

 

[soalbundy]

2 hours ago, ubonjoe said:

The reason you do not get the international code is that Kasikorn Bank does them as domestic transfer when transferring it to your account after it comes into the country. You can get a credit advise that will show it as a international transfer.

As far as I know Bangkok Bank is the only one that shows them as a international transfer.

 

Correct, I use BBK and it is always shown as an international transfer. Maybe make a copy of the Transferwise transfer each month, I don't know if this helps but I make a copy of my German bank statement and transferwise statement each month as security.

[scubascuba3]

Doing the "transfer for long term residency" to Bangkok Bank, does slow the transfer down though, maybe goes through a manual review, i did a transfer earlier today (Friday) and it's due to settle Monday. Last time i used Kasikorn with a different description it settled 15 minutes later

[john terry1001]

2 hours ago, scubascuba3 said:

Doing the "transfer for long term residency" to Bangkok Bank, does slow the transfer down though, maybe goes through a manual review, i did a transfer earlier today (Friday) and it's due to settle Monday. Last time i used Kasikorn with a different description it settled 15 minutes later

If using Bangkok Bank and make/complete your transfer before about 9:30 am Thailand time, Monday to Friday, the transfer will be confirmed as arriving in Bangkok Bank in Thailand within an hour and you get a 'sent' email at that time. But Bangkok Bank always update individual accounts at 2:00pm Thailand time and that's the time when it's shown as available in your account, along with an International Transfer coding.

 

If your transfer is completed after 9:30am It will arrive in your Bangkok Bank account the following working day, again being available after 2:00pm. 

 

This has always been the case

 

Kasikorn and TMB may have different transfer times etc.

Edited August 21, 2020 by john terry1001

[Pib]

2 hours ago, scubascuba3 said:

Doing the "transfer for long term residency" to Bangkok Bank, does slow the transfer down though, maybe goes through a manual review, i did a transfer earlier today (Friday) and it's due to settle Monday. Last time i used Kasikorn with a different description it settled 15 minutes later

If you had initiated and funded the transfer before 9:30am today it would have likely posted to your Bangkok Bank acct today a few minutes after 2pm.  If doing the transfer after 9:30am it will be then next business day, which is Monday in your case. Sat and Sun do not count as business days.

[Tanoshi]

7 hours ago, Shannoblic said:

I rang Transferwise on Wednesday afternoon and spoke to a very polite young lady but she could not help me with advice on how to get a code which showed the transfer was international.

As already explained, it's your bank.

All International transfers go through the Head office branch (the only branch with a SWIFT code) to your local branch account. Bangkok bank are the only bank that inform the branch of the route of transfer, so it's coded as FTT ( Foreign Telex Transfer) in a Bangkok Bank Passbook. 

 

As far as your Kasikorn branch is concerned it was a local transfer from their HQ.

You can request a 'credit advice' receipt from your local branch for each transfer as proof of an overseas transfer, or you could request a bank statement from the Headquarters of Kasikorn where it will be shown as an 'International' transfer.

 

Some Immigration office also accept the Transferwise PDF receipts as proof of an overseas transfer.

[lopburi3]

3 minutes ago, Pib said:

If you had initiated and funded

This is a key factor and normally will cause some delay as if funded by an ACH draw from a US bank it can take some time to become available to Transferwise.

[stouricks]

4 hours ago, KhunBENQ said:

A bit hidden in Transferwise but you can find it.

Looks like this:

(second page cut short)

 

Hidden? It is obviously available for each transfer.

[KhunBENQ]

41 minutes ago, stouricks said:

Hidden? It is obviously available for each transfer.

Did I say it is not available?

"Hidden" behind one of the "..." menus.

I think it is important enough to see it on the first window.

Edited August 21, 2020 by KhunBENQ

[stouricks]

6 minutes ago, KhunBENQ said:

Did I say it is not available?

"Hidden" behind one of the "..." menus.

I think it is important enough to see it on the first window.

It is if you go to the first window of your particular transfer........download pdf receipt.

But yes, I agree if one is not au fait with navigating websites.

Edited August 21, 2020 by stouricks

[Dazinoz]

19 hours ago, KhunBENQ said:

Though I not depend on: I receive money to Bangkok Bank as described above.

Has anyone tried to print and show the "PDF Receipt"(s) that Transferwise supplies?

Yep, I print out every transfer receipt as well as the bank receipt money sent from.

[norbra]

Attached is a copy of credit advice from KBank available from call centre and emailed the following day

[PJPom]

I bank with SCB and transfer funds every month via TransferWise and in the bankbook it never shows as international, however on the bank statement it is coded MCL0001. Nobody in my branch knew what this meant, looking through TV forum I found another member had checked and it meant, international funds transfer from other bank with API system. 
my IO checked and it was accepted last year and last month when I got my latest extension .

There is also / X888994  [ KBANK ]which means the same and is also accepted.

Edited August 22, 2020 by PJPom
Correction

[fittobethaied]

I started using TW over a year ago to transfer money from the US to my Bangkok Bank account, and the first few incoming transfers were coded as FTT because TW used Bangkok Bank as their receiving partner in Thailand. For two months running at one point the receiving partner was Kasikorn Bank, so the transfer was coded other than FTT. I called customer service and they made a note on my account to always use Bangkok Bank as the receiving bank for my account, and I have had no problems now on the next 9 transfers. 

[Seeall]

21 hours ago, Shannoblic said:

Thank you everyone for your advice.  Things are clearer now.

Just to add my non helpful bit, TW dont really care, I guess the staff like most on salary just want to move onto the next support ticket and get their quota, for which you cant blame them.  Whats sad is, if they had the higher level of staff check into all this and correctly sort it out  instead of unknowing desk help staff throwing around a few possible idea at you... Most of these type of companies/staff have never heard of the ridicoulous situation here in Thailand and find it hard to understand or want to understand what your issue is (Record in so you can take out/use for Visas)

The very sad part is, if TW heads really knew the millions they are losing due to their insufficient setup protocols they would jusmp at the chance to rectify this small thing.. for huge gains..  I have had many emails with them to no avail... their thoughts are"you have the cash whats the problem" NEXT ...... Well, another company will most likely have a better system that will solve this... in the meantime I use the Farang bank to SCB holding account until I am ready to convert (wait for best FX rates) cost me a bit more, especially when its millions, however..  at least its recorded and documented better......  good topic, thanks all...

[wwest5829]

16 hours ago, lopburi3 said:

This is a key factor and normally will cause some delay as if funded by an ACH draw from a US bank it can take some time to become available to Transferwise.

Always interested in reading about the Transferwise transfers. I use Transferwise each moth to bring in $2200.00 USD. Transferwise takes the money from my US bank account by Direct Debit, then informs me when they receive the funds, then I order the transfer to my Bangkok Bank account, which shows as FTT. It always takes days for the transfer and Transferwise states my costs at around $21.00 USD.

Edited August 22, 2020 by wwest5829

[Peter Denis]

1 hour ago, Seeall said:

Just to add my non helpful bit, TW dont really care, I guess the staff like most on salary just want to move onto the next support ticket and get their quota, for which you cant blame them.  Whats sad is, if they had the higher level of staff check into all this and correctly sort it out  instead of unknowing desk help staff throwing around a few possible idea at you... Most of these type of companies/staff have never heard of the ridicoulous situation here in Thailand and find it hard to understand or want to understand what your issue is (Record in so you can take out/use for Visas)

The very sad part is, if TW heads really knew the millions they are losing due to their insufficient setup protocols they would jusmp at the chance to rectify this small thing.. for huge gains..  I have had many emails with them to no avail... their thoughts are"you have the cash whats the problem" NEXT ...... Well, another company will most likely have a better system that will solve this... in the meantime I use the Farang bank to SCB holding account until I am ready to convert (wait for best FX rates) cost me a bit more, especially when its millions, however..  at least its recorded and documented better......  good topic, thanks all...

The problem is not due to unwillingness of TransferWise staff, but due to the specific way in how Thai banks operate (with funds first arriving at Bank HQs and then being transferred to your local branche account).

But as mentioned already by some other posters, there is an easy way to circumvent this problem by downloading the TransferWise PDF transfer receipt and most IOs will accept it, as it provides irrefutable evidence that the transfer originated from abroad.