4 hours ago, Seeall said:

Thanks, well said...TW should know and use this... again.. they are not interested..

Sorry, what's your problem and what would you like TW to do?

TW are an online money transfer service, not a bank.

 

They have 3 accounts with Bangkok Bank, Kasikorn and TMB. All transfers come from one of those accounts. They inform the banks it's an FTT, but they cannot and do not have any influence on how the Thai banks inform their branches.

If your with any other bank than one of the above, you'll never get the FTT or International code.

At the start of 2020 the World Bank required that intermediaries be identified in every transaction. Meaning all forex transactions to Thailand are received by an intermediary or agent who is then the sender in the final step resulting in this step being a domestic transaction to your nominated Thai bank, Bangkok Bank have some domestic agreement with TW to indicate that transfers to your account are international.

39 minutes ago, norbra said:

Bangkok Bank have some domestic agreement with TW to indicate that transfers to your account are international.

Presumably broader than that as if I do not use TW, but a foreign bank transfer, the transfer still arrives at The Bangkok Bank flagged as international.

43 minutes ago, norbra said:

Bangkok Bank have some domestic agreement with TW to indicate that transfers to your account are international.

No such agreement exists.

The transfers are made via a FTT request. Only the Head Offices have a SWIFT code, so all transfers go through the HO account to your branch.

 

If your theory was correct, then please explain why when having a Kasikorn account a bank statement issued by the HO shows the transaction as 'International', but the Passbook will always code it as 'domestic' transfer.

It has nothing to do with TW, it's how the Thai banks process the transfer to your local branch.

On 8/24/2020 at 1:04 PM, Tanoshi said:

No such agreement exists.

The transfers are made via a FTT request. Only the Head Offices have a SWIFT code, so all transfers go through the HO account to your branch.

 

If your theory was correct, then please explain why when having a Kasikorn account a bank statement issued by the HO shows the transaction as 'International', but the Passbook will always code it as 'domestic' transfer.

It has nothing to do with TW, it's how the Thai banks process the transfer to your local branch.

Do your kbank statements for 2020 show your transfers as International?

When I applied for my extension last June my 12 month kbank statement showed only transfers for 2019  as International transfers.while 2020 transfers showed as dummy account deposit.

2 hours ago, norbra said:

When I applied for my extension last June my 12 month kbank statement showed only transfers for 2019  as International transfers.while 2020 transfers showed as dummy account deposit.

Statements from the Head Office, or did your branch issue their 6 month statement for 2020.

What method of transfer do you use - Transferwise?

56 minutes ago, Tanoshi said:

Statements from the Head Office, or did your branch issue their 6 month statement for 2020.

What method of transfer do you use - Transferwise?

I got a 12 month statement from KBank in about 1 1/2 hours in the beginning of August that cost me 100 baht and a bit of hard work from the branch staff.

 

OTOH I got only 1 letter and 1 statement from BKK Bank at a cost of 300 baht (100 for the letter and 200 for the statement) and that took 3 days and a lot of cannots from the bank staff.

26 minutes ago, billd766 said:

I got a 12 month statement from KBank in about 1 1/2 hours in the beginning of August that cost me 100 baht and a bit of hard work from the branch staff.

 

OTOH I got only 1 letter and 1 statement from BKK Bank at a cost of 300 baht (100 for the letter and 200 for the statement) and that took 3 days and a lot of cannots from the bank staff.

The crazy thing with thai banking is that every bank branch is different and acts like a little fiefdom.  At the end of the day it is not so much whether it is KBank, BKK Bank, SCB or another Thai bank, but rather the competence of your local bank branch officers (and manager) that will make the difference whether getting the IO-required bank documents would be smooth sailing or a frustrating hurdle-race.  

On 8/22/2020 at 3:42 PM, Tuvoc said:

What I don't get is how expats have managed to keep their TransferWise accounts in their home country. In the UK anyway, you have to be resident to have a standard bank account. Unless people just use an address of a family member or something. If you live overseas, you are supposed to have a special expat account.

FYI: TransferWise is not a bank. 

Just now, Max69xl said:

FYI: TransferWise is not a bank. 

FYI it is a bank registered in the UK.

 

52 minutes ago, Peter Denis said:

The crazy thing with thai banking is that every bank branch is different and acts like a little fiefdom.  At the end of the day it is not so much whether it is KBank, BKK Bank, SCB or another Thai bank, but rather the competence of your local bank branch officers (and manager) that will make the difference whether getting the IO-required bank documents would be smooth sailing or a frustrating hurdle-race.  

It's smooth sailing when using TW the correct way. This thread isn't about Thai banks and how they work, it's about using TW and how to get the correct bank codes. You can NEVER get the correct bank code (if that's important) when using TW, and not banking with one of TW's 3 partner banks,but Bangkok Bank is probably the only bank where the transfers always  shows up as international = FTT when using the correct reason for transfer in combination with having the account tagged to Bangkok Bank. It's best to avoid the "Fast transfer" option if not banking with Bangkok Bank. When using that option, TW might have to change bank to be able to deposit the money fast. 

 

2 minutes ago, Max69xl said:

...

This thread isn't about Thai banks and how they work, it's about using TW and how to get the correct bank codes.

...

FYI > My response was to a poster with a question about Thai banking and the various banking documents required by IOs.

Thank you for pointing that out Captain Obvious.

18 minutes ago, BritManToo said:

FYI it is a bank registered in the UK.

 

Wrong again. TW is NOT a bank anywhere in the world,hence,it can't be registered as such. Read this!

"TransferWise is an authorised Electronic Money Institution independently regulated by the Financial Conduct Authority (FCA) in the United Kingdom." 

3 hours ago, BritManToo said:

FYI it is a bank registered in the UK.

 

 

https://transferwise.com/terms-of-use-eea

Quote

7.3 Your TransferWise Account is an electronic money account and is not a bank account. You acknowledge that the UK’s Financial Services Compensation Scheme does not apply to your TransferWise Account. However, we follow the requirements under the UK Electronic Money Regulations 2011 which are designed to ensure the safety of funds held in electronic money accounts like your TransferWise Account. For further information on how we look after your money, please visit FAQ.

 

Please excuse perhaps a dumb question :

Have tried to set up TW account.

Gets snagged on request for IBAN #.

I understand Thailand does not use.

There is no provision for SWIFT on the application.

How did you guys do it? any tips?

thx.

6 hours ago, Max69xl said:

This thread isn't about Thai banks and how they work, it's about using TW and how to get the correct bank codes.

Where do you think the transfer codes come from, TW, or the Banks.

If you need to know about coding's, then you need to speak about the banks, how the transfers are processed, which bank to go to and what you need to request in order to provide proof of an overseas transfer for Immigration, if it's not coded FTT in the Passbook, or International on a bank statement - which surprisingly is what the topic heading is about.

12 hours ago, cognito said:

Please excuse perhaps a dumb question :

Have tried to set up TW account.

Gets snagged on request for IBAN #.

I understand Thailand does not use.

There is no provision for SWIFT on the application.

How did you guys do it? any tips?

thx.

You do not need any IBAN or SWIFT code just to open a TW acct unless they just started something to verify your identity by you needing to enter "your" bank info.

 

IBAN/SWIFT codes are only used when you setup a "recipient" within TW you want to send money to.   If sending money to a Thai bank acct TW will use the Thai bank's SWIFT code as Thai banks are not part of the IBAN system.  The IBAN system is mostly a European/Middle East countries thing.

 

If you really meant you are trying to setup a recipient at a Thai bank within your already opened TW acct be sure you have selected Thai baht as the currency.  What currency you are selecting to send determines the bank entry fields you must enter like SWIFT, IBAN, etc.  Once you select THB the IBAN field will not be offered since Thai bank don't use IBAN.

 

Pib, thanks so much for clarification. 

very much appreciated.

Same for all you guys. generous with your time and knowledge in a difficult time.

stay safe.

When you open an account at TW choose the Borderless account. The only problem I had with that was my external camera was cheap and nasty and they had a problem reading my passport. IIRC we got around it by me showing the passport and then sending TW a scanned copy.

On 8/22/2020 at 5:23 PM, Hamus Yaigh said:

Thanks. So hopefully this is good enough for an IO to accept? I thought the IO's just looked in bank books and statements for the FTT code for foreign telegraphic transfers, but I suppose all TT involve foreign banks.

 

This seems to be more use than the PDF from Transferwise that just says Local bank transfer, but requires an added step of getting the Credit Advice report from the Thai bank each time.

Thats correct and IO's at both CW and CM accept these Credit Advice docs from KBank as proof of funds,but be aware that if you delay getting these docs from KBank for more than 3 months they will provide older docs at 500 baht for each transfer required.

Kbank call centre will facilitate sending these docs from International Div to you by email,you can also register at any branch for notification of International transfers credited to your account

1 hour ago, norbra said:

Thats correct and IO's at both CW and CM accept these Credit Advice docs from KBank as proof of funds,but be aware that if you delay getting these docs from KBank for more than 3 months they will provide older docs at 500 baht for each transfer required.

Kbank call centre will facilitate sending these docs from International Div to you by email,you can also register at any branch for notification of International transfers credited to your account

 

Per KBank fee schedule if the transaction is not more than 3 months old the credit advice is free.  From 3 months to less than 6 months it's Bt100 baht per credit.  And for 6 months and older it Bt500 per credit advice. 

 

And although below schedule does not indicate so, "if" it's like Bangkok Bank fee schedule there is a max Bt500 fee....like if requesting 6 months of credit advices over 6 months old instead of a Bt600 fee it would be Bt500.

 

Summary: get the credit advance before they turn 3 months old and you can get them free.

 

https://kasikornbank.com/th/rate/fee/ChargesDoc/ServicingFees_th_03082020.pdf

Update from Shannoblic [original poster]

 

2 days ago I did my monthly transfer using TW as normal but using the 'payment for long term stay in Thailand' option as a reason to my Bangkok Bank Savings Account..  Today I have had my bank book updated.  The code for the transfer is ITT which is NOT listed in the Code List at the back of my bank book.  I am hoping it means International Transfer.

 

I would like to thank all of you who have contributed to this topic and given me advice.  I have used that advice and now just hope the ITT code is what I think it is.

 

Thank you once again.

4 minutes ago, Shannoblic said:

I would like to thank all of you who have contributed to this topic and given me advice.  I have used that advice and now just hope the ITT code is what I think it is.

Are you sure it is not FTT. That is what my Bangkok Bank book has and it means Foreign Telegraphic Transfer.

ITT would be International Telegraphic Transfer.

Thanks UJ,

 

It is very badly printed and looks like ITT to me even using a magnifier.  But the printing is so feint I read it as ITT but I could of course be wrong and it is just a bad print.

 

Just to be on the safe side, next time I am in town I will pop into the bank and make sure.

 

Thanks for looking at it.

I've had the update machine print very poorly and faded in my book twice. On both occasions the next time I've tried printed a transaction the machine has failed to recognise the faded printout and printed the new transaction over the top of it, making both of them illegible. Went straight into the bank who told me it wasn't possible to reprint the faulty section in the bankbook itself but printed off a copy from her PC clearly showing both transactions which Immigration happily accepted.

 

As I say, it's happened twice so far so I don't update the book at that busy branch where the printing appears faded now.

2 hours ago, Shannoblic said:

Thanks UJ,

 

It is very badly printed and looks like ITT to me even using a magnifier.  But the printing is so feint I read it as ITT but I could of course be wrong and it is just a bad print.

 

Just to be on the safe side, next time I am in town I will pop into the bank and make sure.

 

Thanks for looking at it.

What does the spacing look like between the first two characters?  Is the spacing between the I and T tight like "ITT" or is the spacing more like "I TT" where it looks like the spacing is wide because the "horizontal marks" of a F didn't print properly.

 

Anyway, never heard of a Bangkok Bank ITT code; just FTT.

 

On 8/21/2020 at 12:25 PM, Shannoblic said:

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

Call Kasikorn call centre they will pass on your request for a Credit Advice/Reeipt to their International div who will email this advice to you free of charge,but if you want a doc that is more than 3 months old they charge 500 thb for each transfer you require 

The IO's at CW suggest that you apply for your receipt after each transfer so no problems

1 hour ago, norbra said:

Call Kasikorn call centre they will pass on your request for a Credit Advice/Reeipt to their International div who will email this advice to you free of charge,but if you want a doc that is more than 3 months old they charge 500 thb for each transfer you require 

The IO's at CW suggest that you apply for your receipt after each transfer so no problems

I might be wrong (it might not be Kasikorn), but I think you can arrange for them to email you with a credit advice receipt automatically every time you receive a deposit in your account.

On 8/28/2020 at 11:42 AM, Shannoblic said:

Update from Shannoblic [original poster]

 

2 days ago I did my monthly transfer using TW as normal but using the 'payment for long term stay in Thailand' option as a reason to my Bangkok Bank Savings Account..  Today I have had my bank book updated.  The code for the transfer is ITT which is NOT listed in the Code List at the back of my bank book.  I am hoping it means International Transfer.

 

I would like to thank all of you who have contributed to this topic and given me advice.  I have used that advice and now just hope the ITT code is what I think it is.

 

Thank you once again.

Do you not have Internet Banking where it says in big letters INTERNATIONAL TRANSFER for deposits from Transferwise, or even on the Bkk Bank phone app it says the same..............well it does on mine.

16 hours ago, john terry1001 said:

I might be wrong (it might not be Kasikorn), but I think you can arrange for them to email you with a credit advice receipt automatically every time you receive a deposit in your account.

they will email/sms advice that you have received an international transfer ,not provide document