Elite Visa transfer to local Bank account max / per transferwise transfer?

[daviddunham]

I applied for the elite visa, the 500'000 THB option.

 

 --- I know the transferwise limit is 2 Million THB in one go ---

 

Does anyone know if there is a limit on how much I can transfer with transferwise without running into problems -> AmL checks, other hold-ups, questions asked etc.?

 

2. Can I just tag "travel expenses" in transferwise or what should I tag it as?

 

 

[DrJack54]

Perhaps better advice in financial forum..

I transferred 100k aud without issue. 

Your country might also be consideration.

[ukrules]

When providing a reason for SWIFT transfers I select 'Personal Transfer' no matter how much or how little I'm sending, it's mine so it's a personal transfer.

Edited November 19, 2020 by ukrules

[glegolo]

My biggest obstacle when transferring from Sweden is actually that my swedish bank put a maximum amount per 7 day period (15.000 sek = 52.800B).... I guess they are fighting back Transferwise by doing it this way...

 

glegolo

[alianware]

You can choose purchase reason or any other legal reason. It doesn't matter actually. But don't choose business reason. 

For that you need to create a business account. Otherwise they will hold your transfer.

Some big amount will be block as pending as well for security reason if you transfer to other name of bank account. They will contact you and need your clarification. 

You have to identify yourself with photo of id card and copy of your water bill or electric bill, where they can see your name and the same address you have registered your transferwise account.

Edited November 19, 2020 by alianware

[DrJack54]

2 minutes ago, alianware said:

Some big amount will be block as pending as well for security reason if you transfer to other name of bank account. They will contact you and need your clarification

Blocked by who. Do you understand how money transfer companies work dealing with companies such as Transferwise and OFX.

[alianware]

16 minutes ago, DrJack54 said:

Blocked by who. Do you understand how money transfer companies work dealing with companies such as Transferwise and OFX.

Why do you ask me that question ? Ofcourse blocked by transferwise company. I have transfered millions of bath with transferwise and i know what i am talking about.  Have you ever done it before ? 

Edited November 19, 2020 by alianware

[daviddunham]

1 hour ago, glegolo said:

My biggest obstacle when transferring from Sweden is actually that my swedish bank put a maximum amount per 7 day period (15.000 sek = 52.800B).... I guess they are fighting back Transferwise by doing it this way...

 

But ...you can simply transfer to the local Swedish Transferwise account (then the transfer takes about 24h in my experience). There should be no limit there because it is a normal local transfer. On which kind is the restriction? Credit card / apple pay?

[DrJack54]

26 minutes ago, alianware said:

Why do you ask me that question ? Ofcourse blocked by transferwise company. I have transfered millions of bath with transferwise and i know what i am talking about.  Have you ever done it before ? 

No you don't. Also read the thread. 

You can send up to 2 million THB per transfer. How long does it usually take for the money to arrive? Once TransferWise receives and converts your money, it usually takes up to 1 working day to arrive in your recipient's bank account. Conversion can take up to 2 working days.

transferwise.com › help › currencies

Guide to THB transfers | TransferWise Help

[alianware]

5 hours ago, DrJack54 said:

No you don't. Also read the thread. 

You can send up to 2 million THB per transfer. How long does it usually take for the money to arrive? Once TransferWise receives and converts your money, it usually takes up to 1 working day to arrive in your recipient's bank account. Conversion can take up to 2 working days.

transferwise.com › help › currencies

Guide to THB transfers | TransferWise Help

I know about how long it takes. That is not the actually issue. One time sending money for a new customer might go through withouth problem.  But if you transfer couple of time more than 1 million bath to other bank account, i guaranty you , that your transfer will be blocked and and be pending before you identify yourself after they contact you through email and need your action and confirmation to make sure that you are the owner of the bank account for their security policy. After they make sure that you are the owner and everything is fine than you get green card. And fkr the future you can tranfer it withouth problem. Do you think i write a joke.

Edited November 19, 2020 by alianware

[glegolo]

7 hours ago, daviddunham said:

 

But ...you can simply transfer to the local Swedish Transferwise account (then the transfer takes about 24h in my experience). There should be no limit there because it is a normal local transfer. On which kind is the restriction? Credit card / apple pay?

Aha, you mean that over time I collect money there at Transferwise´s own account, and then transfer all of it at the same time from there to Thailand??? That will take a lot of weeks, not sure that will make me much more happy...

 

glegolo

[wilkis333]

I have made similar enquiry and reply from bkk bank two years ago.

Reply

Regarding you inquiry about  deposit limit per day/per transaction. Please be advised that there is no limit per day and per transaction but not over 1000 Million THB per account.

[redpill17]

11 hours ago, glegolo said:

Aha, you mean that over time I collect money there at Transferwise´s own account, and then transfer all of it at the same time from there to Thailand??? That will take a lot of weeks, not sure that will make me much more happy...

 

glegolo

They don't take weeks. Transfers from cards to most Thai banks are instant. I imagine if source bank account supports direct debit, it would be instant too.

[Jenkins9039]

22 hours ago, daviddunham said:

I applied for the elite visa, the 500'000 THB option.

 

 --- I know the transferwise limit is 2 Million THB in one go ---

 

Does anyone know if there is a limit on how much I can transfer with transferwise without running into problems -> AmL checks, other hold-ups, questions asked etc.?

 

2. Can I just tag "travel expenses" in transferwise or what should I tag it as?

 

 

Routinely transfer between 500-1m a month no issues.

[condohope]

You can open a Thai Baht account at TW no matter where your main TW account is located. This means your remittance is considered a local transfer and then you decide when to change your money and when you transfer to Elite Visa.

[Captor]

On 11/19/2020 at 3:20 PM, glegolo said:

My biggest obstacle when transferring from Sweden is actually that my swedish bank put a maximum amount per 7 day period (15.000 sek = 52.800B).... I guess they are fighting back Transferwise by doing it this way...

 

glegolo

You should change bank then. I use Skandiabanken. Never had a problem.

[glegolo]

6 hours ago, Captor said:

You should change bank then. I use Skandiabanken. Never had a problem.

Thanks for reply...

- How high transfer-amounts are we talking about than for you??

- over SEK; 15.000 each time??? 

- Are you using debitcard-option at Transferwise? Or are you using Trustly?

 

Plse let me know, so I have something to go back to NORDEA with..

 

thanks

glegolo

Edited November 20, 2020 by glegolo

[Captor]

6 hours ago, glegolo said:

Thanks for reply...

- How high transfer-amounts are we talking about than for you??

- over SEK; 15.000 each time??? 

- Are you using debitcard-option at Transferwise? Or are you using Trustly?

 

Plse let me know, so I have something to go back to NORDEA with..

 

thanks

glegolo

I use Trustly most of the time. But in the beginning i used a straight banktransfer and the amounts have been different during the years. I believe the most was 450 000 Thb. Many times 100 000 Thb. And some 2-3 times it was 250-400 000 Thb. Nordea are criminals by money laundering Billions from russian oligarks and not accept sek 15 000 from you? The most whealty bank in scandivavia. I would change bank anyway not only because of this issue.

They are probably more expensive as well.

[glegolo]

9 minutes ago, Captor said:

I use Trustly most of the time. But in the beginning i used a straight banktransfer and the amounts have been different during the years. I believe the most was 450 000 Thb. Many times 100 000 Thb. And some 2-3 times it was 250-400 000 Thb. Nordea are criminals by money laundering Billions from russian oligarks and not accept sek 15 000 from you? The most whealty bank in scandivavia. I would change bank anyway not only because of this issue.

They are probably more expensive as well.

Yeah, I do not know what to say really. As being "signed out" from Sweden (utskriven),, so that makes it impossible I guess to get a new bank-account in Sweden, or du you know if it is possible.... i.e. Skandiabanken???

 

glegolo

[Captor]

46 minutes ago, glegolo said:

Yeah, I do not know what to say really. As being "signed out" from Sweden (utskriven),, so that makes it impossible I guess to get a new bank-account in Sweden, or du you know if it is possible.... i.e. Skandiabanken???

 

glegolo

I don't really know. You did that because of lower tax i assume? 25% instead? SINK tax. I will probably do the same later when retire and move to Thailand. But you have no address for creating a new account i guess. But you can still go back and become healtcare in Sweden. Maybe you want to consider a borderless account "wallet" at Transferwise and just send all the money that comes in to your Nordea account straight to the TW "wallet"? But that is not for free as well probably. I havent check. I'm just thinking out loud. I don't know if there is any solution to that. Guess you are stuck to Nordea then. Same with credit cards? You will not be able to get a new one if not having an address in Sweden? 

[glegolo]

10 minutes ago, Captor said:

I don't really know. You did that because of lower tax i assume? 25% instead? SINK tax. I will probably do the same later when retire and move to Thailand. But you have no address for creating a new account i guess. But you can still go back and become healtcare in Sweden. Maybe you want to consider a borderless account "wallet" at Transferwise and just send all the money that comes in to your Nordea account straight to the TW "wallet"? But that is not for free as well probably. I havent check. I'm just thinking out loud. I don't know if there is any solution to that. Guess you are stuck to Nordea then. Same with credit cards? You will not be able to get a new one if not having an address in Sweden? 

I/we have nochoice. If living abroad more than 183 days, than automaticly you get signed out. No I have not any lobger SINK tax, I choose to pay after the usual tabell that all swedes in Sweden pay after. It is more in my wallet that way. Under 20.000:- in monthly income is not worth to use SINK...

 

So I live hyere since 12,5 years now,,,, so have to adapt to life in general and try to fix the problem when they araise in front of me... And now Transfer wise-NORDEA bank is giving me problem.....

 

glegolo

[Captor]

25 minutes ago, glegolo said:

I/we have nochoice. If living abroad more than 183 days, than automaticly you get signed out. No I have not any lobger SINK tax, I choose to pay after the usual tabell that all swedes in Sweden pay after. It is more in my wallet that way. Under 20.000:- in monthly income is not worth to use SINK...

 

So I live hyere since 12,5 years now,,,, so have to adapt to life in general and try to fix the problem when they araise in front of me... And now Transfer wise-NORDEA bank is giving me problem.....

 

glegolo

I have called the bank. You can apply for an account at Skandiabanken with some restrictions.

I can send a PM to you about that.

[glegolo]

30 minutes ago, Captor said:

I have called the bank. You can apply for an account at Skandiabanken with some restrictions.

I can send a PM to you about that.

YES you are MORE than welcome, thank you so much..