Bank Transfers

[Raybangkok]

I have been transferring my pension from Santander UK to Thailand via Bangkok bank in London for many years without any problems. I have just received an email asking the following.

 

(Thank you for using our services to send the money to Thailand.

Due to a new banking regulation to guard against fraud and money laundering. The Bank’s regulations state that all banks in Thailand must obtain specific reason, sender details  also the prove of fund  for funds transfers before they are credited into an account in Thailand. Bangkok Bank will report the purposes for all incoming funds transfers to the Bank of Thailand on your behalf.

Kindly complete the attached registration form to submit the required documents by replying to this email to enable the transfer service

Once complete the form, please scan the listed documents and send them to us by replying to this Email .

1)      The 1st page of Bangkok Bank passbook

2)      Copy of Passport

3)      Proof of address  ( Household registration or Gas/ electricity bill or Bank statement)

4)      Registration Form ( see the attached file)

Please note that we need your Thai address as proof of address because  you are living in Thailand and the bank code will be issued to your home address for security reasons.

Once we receive the documents and form we will issue you with a unique Banking code. You can quote that code every time you send money to Thailand.)

Because of the poor English I emailed another department to check if this was spam as Gmail said it was. A woman sent an email back confirming it was genuine. The phone number they gave is different to the banks website number. Has anybody else been sent an email regarding transfers. Thank you in advance for you help.

[lopburi3]

The USA stopped allowing transfers using Bangkok Bank New York without special additional information (which is not available in US systems) so sounds like UK is going the same route and indeed it is real and a requirement to abide to government rules.  I would move to Transferwise myself as I have done in USA.  

[KhunBENQ]

12 minutes ago, lopburi3 said:

I would move to Transferwise myself as I have done in USA. 

When sending from Europe, Transferwise asks for purpose of funds.

I select money for long-term foreign stay.

No idea whether it is important and never had an issue.

[Kwasaki]

Why not get your UK pension paid directly into your Thai Bkk bk a/c like many do here. 

I never have a problem as long as the proof of life form is received back to the IPC. 

[lopburi3]

5 minutes ago, Kwasaki said:

Why not get your UK pension paid directly into your Thai Bkk bk a/c like many do here. 

I never have a problem as long as the proof of life form is received back to the IPC. 

It greatly limits your payment options in my view - better to keep accounts in home country active - you may well need at some point - even if only for insurance payments/government tax payments and such.  Also good to have a credit/debit card in home currency for many people.  Most of us will have payments to make for something that is often a lot easier using home country currency/banking.  

[scorecard]

10 minutes ago, lopburi3 said:

It greatly limits your payment options in my view - better to keep accounts in home country active - you may well need at some point - even if only for insurance payments/government tax payments and such.  Also good to have a credit/debit card in home currency for many people.  Most of us will have payments to make for something that is often a lot easier using home country currency/banking.  

Good point. I have 1 remaining account at home, I calculated how many dollars I needed per year for valuable memberships etc., then reduced the balance to twice the annual items, then requested the gov't to transfer my pension direct to K bank in Thailand.

 

If/when needed I can do a top up of the home bank account from Thailand.

Edited November 25, 2020 by scorecard

[Kwasaki]

10 minutes ago, lopburi3 said:

It greatly limits your payment options in my view - better to keep accounts in home country active - you may well need at some point - even if only for insurance payments/government tax payments and such.  Also good to have a credit/debit card in home currency for many people.  Most of us will have payments to make for something that is often a lot easier using home country currency/banking.  

Hear what you say, good call. 

Peoples situations can be different in so many ways. 

I've posted many times why I find my UK pension being paid directly into my Thai bank is a better way IMO. 

My 2 private pensions are not large but a nice top up bit the companies won't pay into a Thai bank that's why I have a UK credit card. 

 

[Jai Dee]

Topic moved to Banking Forum.

 

/Moved

[Peter Denis]

2 minutes ago, KhunBENQ said:

When sending from Europe, Transferwise asks for purpose of funds.

I select money for long-term foreign stay.

No idea whether it is important and never had an issue.

TransferWise does not actually transfer the funds from your foreign bank-account to your Thai bank-account.  TransferWise makes use of their PartnerBank(s) in the destination country (in Thailand they use Bangkok Bank, Kasikorn Bank and TMB) to transfer the money to your local account there.  So in effect it will not be an international transfer but a domestic transfer to your local Thai bank-account. 

That might cause a problem with Immigration, because when using the monthly income transfer method to meet the financial requirements of your annual extensions, Immigration requires that the foreign origins of the transfers are proven.

When your account is with Bangkok Bank, and you clicked the option 'Funds for long-term stay' as reason for the transfer with TransferWise, Bangkok Bank Headquarters (where the transfer order arrives) will code the incoming transfer as FTT which is the Bangkok Bank code for an international transfer, and will also communicate that information to your local BKB branche so that it turns up as an international (FTT) transfer on your bank-book, and you can provide proof to Immigration that the transfer was from foreign origin.

Unfortunately Kasikorn Bank (unless you bank directly with their HQ branche) does not do similar, and does not communicate this to its local branches.  And that's why - even when selecting that TransferWise option of Funds for long-term stay, - the transfer will still show up as a 'domestic' one on your Kasikorn bank-book.  However, you can request a Credit Receipt advice from your local Kasikorn Bank branche, that will provide proof of the foreign origin of the transfers.  Such Credit Receipt advices are free-of-charge when less than 3 months old, otherwise a fee will be charged to provide them to you.

When using another Thai Bank than those 3 partner-banks you would have to enquire via which of the 3 TW partner-banks the funds were routed to your local bank-account, and then you would have to visit a branche of that partner-bank to get hold of the evidence that the origin of the funds was from abroad.

>> If you need more detail on the above, do PM me and I will provide you with a Guideline document on TransferWise and how to ensure you get hold of the evidence of the foreign origins of the transfers you made. 

Note: Most IOs also do accept the TW receipts as evidence that the transfers originated from abroad, but you might encounter the odd Immigration Officer that insists on proof from your Thai bank that the transfers 'really' originated from abroad, so better enquire beforehand whether Io accepts the TW receipts as proof of foreign origin of the funds transferred.

[KhunBENQ]

32 minutes ago, Peter Denis said:

 

When your account is with Bangkok Bank, and you clicked the option 'Funds for long-term stay' as reason for the transfer with TransferWise, Bangkok Bank Headquarters (where the transfer order arrives) will code the incoming transfer as FTT which is the Bangkok Bank code for an international transfer, and will also communicate that information to your local BKB branche so that it turns up as an international (FTT) transfer on your bank-book, and you can provide proof to Immigration that the transfer was from foreign origin.

That's what I do and happens.

Although I do not depend on the FTT.

[scubascuba3]

TransferWise seems to be the simple solution from Santander to Bangkok Bank, that's what I do

[Hamus Yaigh]

6 minutes ago, scubascuba3 said:

TransferWise seems to be the simple solution from Santander to Bangkok Bank, that's what I do

 

Does the Bangkok Bank show these transfers as foreign? I think that's needed for immigration? I currently us KBank with Transferwise and they are displayed as local bank transfers. Is my only option to open a Bangkok Bank account?

[lopburi3]

6 minutes ago, Hamus Yaigh said:

 

Does the Bangkok Bank show these transfers as foreign? I think that's needed for immigration? I currently us KBank with Transferwise and they are displayed as local bank transfers. Is my only option to open a Bangkok Bank account?

As long as you select long term stay in Thailand as the reason for transfer they should be coded as foreign transfers by Bangkok Bank.  If you select something else as reason for transfer much more likely to be coded as domestic transfer SMART.  But you can obtain paperwork to show foreign origin even if mistake is made.  You can use KBank but will require PDF receipts from Transferwise and/or credit receipts from your bank for each transaction.

Edited November 25, 2020 by lopburi3

[AlfHuy]

1 hour ago, KhunBENQ said:

When sending from Europe, Transferwise asks for purpose of funds.

I select money for long-term foreign stay.

No idea whether it is important and never had an issue.

Reason for transfer: Adding a few more buffalos to the farm.

[Peter Denis]

11 minutes ago, Hamus Yaigh said:

 

Does the Bangkok Bank show these transfers as foreign? I think that's needed for immigration? I currently us KBank with Transferwise and they are displayed as local bank transfers. Is my only option to open a Bangkok Bank account?

You specific questions have been answered in my earlier post.  See link >

> https://forum.thaivisa.com/?app=core&module=system&controller=content&do=find&content_class=forums_Topic&content_id=1193836&content_commentid=16029632

[scubascuba3]

25 minutes ago, Hamus Yaigh said:

 

Does the Bangkok Bank show these transfers as foreign? I think that's needed for immigration? I currently us KBank with Transferwise and they are displayed as local bank transfers. Is my only option to open a Bangkok Bank account?

Yes as foreign as long as you use the correct description, which I think is "for long term stay expenses" or similar words. 

 

The thing to do is send a small test transfer

Edited November 25, 2020 by scubascuba3

[Moonlover]

23 minutes ago, Hamus Yaigh said:

 

Does the Bangkok Bank show these transfers as foreign? I think that's needed for immigration? I currently us KBank with Transferwise and they are displayed as local bank transfers. Is my only option to open a Bangkok Bank account?

No, it is not necessary to open an account with Bangkok Bank in order to use TransferWise. I bank with Krungsri and the credits do not show up as foreign deposits.

 

But that is not a problem. I download the transaction slips from T/W which clearly show that the deposits originate from the UK. They have been accepted by Immigration for 2 years running now and many others are doing the same.

[Hamus Yaigh]

2 hours ago, Moonlover said:

But that is not a problem. I download the transaction slips from T/W which clearly show that the deposits originate from the UK. They have been accepted by Immigration for 2 years running now and many others are doing the same.

Excellent news thanks.

[Peter Denis]

20 minutes ago, Hamus Yaigh said:

Excellent news thanks.

I did PM you a Guideline document on the use of TransferWise and how to get hold - irrespective of which Thai bank you are using - of the IO-required evidence that your transfers originated from abroad.

[Estrada]

I see no point in the original post. If your pension provider provides the usually required statement that the money is a pension payment, that is all that is required. I have 5 pensions sent from the UK direct to my Bangkok Bank Account regularly without problem. I also have my UK State Pension sent to Bangkok Bank London which is automatically sent directly to my Bangkok account. To set up the Bangkok Bank UK account for pension purposes you just fill out the form and sit back, and the funds are transferred to your account. However, Bangkok Bank dislikes dealing with overseas transfers relating to United States citizens due to the extra paperwork and reporting, but this is a UK account. 

[Raybangkok]

19 hours ago, lopburi3 said:

The USA stopped allowing transfers using Bangkok Bank New York without special additional information (which is not available in US systems) so sounds like UK is going the same route and indeed it is real and a requirement to abide to government rules.  I would move to Transferwise myself as I have done in USA.  

Thank you for your reply but the question I am asking is if the email is spam as they ask for a lot of sensitive information.

[lopburi3]

10 minutes ago, Raybangkok said:

Thank you for your reply but the question I am asking is if the email is spam as they ask for a lot of sensitive information.

You should call your bank on normal phone number to confirm.  It appears you sent email but not sure to what address and you mentioned phone number was not normal.  I could only provide an explanation on what such information might now be required but appears you may be the first to receive such so best to confirm directly at a bank contact you are sure of (not anything from an email).  

[digger70]

20 hours ago, Raybangkok said:

I have been transferring my pension from Santander UK to Thailand via Bangkok bank in London for many years without any problems. I have just received an email asking the following.

Now that's nothing new for money transfer institutes.TorFx and Transferwise told me when I opened an account with them that they ask the customers for the same info as you did mentioned every 3 years to prevent money laundering/Safety/to make sure that you still at same address.  

I had one utility  bill put in my name and address . 

Just copy /scan the the things they want and them , No Probs  ????

[Gilltom]

20 hours ago, Raybangkok said:

I have been transferring my pension from Santander UK to Thailand via Bangkok bank in London for many years without any problems. I have just received an email asking the following.

 

(Thank you for using our services to send the money to Thailand.

Due to a new banking regulation to guard against fraud and money laundering. The Bank’s regulations state that all banks in Thailand must obtain specific reason, sender details  also the prove of fund  for funds transfers before they are credited into an account in Thailand. Bangkok Bank will report the purposes for all incoming funds transfers to the Bank of Thailand on your behalf.

Kindly complete the attached registration form to submit the required documents by replying to this email to enable the transfer service

Once complete the form, please scan the listed documents and send them to us by replying to this Email .

1)      The 1st page of Bangkok Bank passbook

2)      Copy of Passport

3)      Proof of address  ( Household registration or Gas/ electricity bill or Bank statement)

4)      Registration Form ( see the attached file)

Please note that we need your Thai address as proof of address because  you are living in Thailand and the bank code will be issued to your home address for security reasons.

Once we receive the documents and form we will issue you with a unique Banking code. You can quote that code every time you send money to Thailand.)

Because of the poor English I emailed another department to check if this was spam as Gmail said it was. A woman sent an email back confirming it was genuine. The phone number they gave is different to the banks website number. Has anybody else been sent an email regarding transfers. Thank you in advance for you help.

We use Santander online banking.we transferred some money over 2 months ago no problem.fill in security questions then they send us a text with code to type in

Usally ask what the money is for we just anything there housekeeping. Buying a car etc????.but never had to send copy of passbook or passport.we use krungti bank foriegn currency account 

[Gilltom]

2 minutes ago, Gilltom said:

We use Santander online banking.we transferred some money over 2 months ago no problem.fill in security questions then they send us a text with code to type in

Usally ask what the money is for we just anything there housekeeping. Buying a car etc????.but never had to send copy of passbook or passport.we use krungti bank foriegn currency account 

Sounds a bit iffy to me.i would ring various telephone numbers .look on their website i.m sure they will have a fraud  dwpartment.i have used Santander for years i did have huge problem with them at 1 time.but not recently good luck pls let me know how u go on 

Do u use online banking at Santander ?

[flossie35]

My main pension is paid direct to Bangkok Bank London, who transfer it next day to Chiang Mai. No problems. My miserably small state pension is paid into a bank account in London; I currently send any balance there to Thailand via BB London, in case pound sinks even further due stupid ineptly managed (???) brexit. I've had no problems with that arrangement.

[Raybangkok]

11 minutes ago, flossie35 said:

My main pension is paid direct to Bangkok Bank London, who transfer it next day to Chiang Mai. No problems. My miserably small state pension is paid into a bank account in London; I currently send any balance there to Thailand via BB London, in case pound sinks even further due stupid ineptly managed (???) brexit. I've had no problems with that arrangement.

Thanks for the information I have been transfering funds for over 15 years without any problems it is the asking for copies of my account details home details and bills for my home that make me suspicious. Also they give different phone numbers than the banks web site.

[chilly07]

Transferwise is your answer. Funds for long term stay gives you the FTT you need especially if you use Bangkok Bank. You can open a bank account with Transferwise and get your pensions paid directly into it. If you can give them a UK address they will provide a MasterCard which allows you to draw direct from a Thai bank or atm. I have opened such an account for when my UK bank decides to close my account because I don't reside in the UK. At present I can do this because I maintain an address in the UK.

[Peter Denis]

35 minutes ago, chilly07 said:

Transferwise is your answer. Funds for long term stay gives you the FTT you need especially if you use Bangkok Bank.

...

You have to be a bit more precise.

When you transfer funds from your foreign bank-account to a Thai bank-account AND you select as reason for the transfer in the drop-down menu > Funds for long-term stay.  THEN

- and only if your account is with BangkokBank

- will the transfer be coded FTT (which is Bangkok Bank's code for an international transfer) in the pass-book of the Bangkok Bank account you have at a local branch.

>> In all other cases, i.e. forgetting to tick the 'funds for long-term stay' or transferring the funds to another Thai bank than Bangkok Bank, the TransferWise transfer will be coded as 'domestic' (and thus cannot be used to prove that the funds originated from abroad).

However, there are other ways to provide evidence of the foreign origins of the transferred funds, irrespective which Thai Bank you are using.  Just PM me if you are interested in a Guideline document outlining the options you have for providing that evidence (IO requires it when you are using the +40K or +65K monthly income transfer method).

[Gilltom]

7 hours ago, Gilltom said:

Sounds a bit iffy to me.i would ring various telephone numbers .look on their website i.m sure they will have a fraud  dwpartment.i have used Santander for years i did have huge problem with them at 1 time.but not recently good luck pls let me know how u go on 

Do u use online banking at Santander ?

I use online banking and there is a part on yiur account where u can message them via your online account .maybe that might help .it's not by email .did u get it sorted ?was all those questions correct what they asked u?