Using TransferWise to Thai bank for O A visa requirements

[LoVeFuN]

Is using TransferWise to your Thai bank account for 400,000 baht in the case of visa OA marraige acceptable if lodged for 2 months or is a wire transfer needed to prove direct source of money. Has anyone used TransferWise for this purpose. Thanks

[Salerno]

TransferWise is OK but make sure you select "Long term stay" in the reason for transfer dropdown.

[LoVeFuN]

1 hour ago, Salerno said:

TransferWise is OK but make sure you select "Long term stay" in the reason for transfer dropdown.

Would this transfer be then accepted by Thai immigration as it would just show TransferWise and not a bank even though it would originally come from one.

My difficulty if not with TransferWise is getting a secure code which they would send from the bank and my phone number would have changed to a Thai number.

[Chivas]

I just used Transferwise first time for about 18 months and pleased to say money landed instantly in the SCB as it always did in the past

No Covid hold ups there

[uncleP]

technically transferwise is a local transfer. you pay elsewhere and money located here is given to you. That said I gave never had an issue at CW.

[Salerno]

8 hours ago, LoVeFuN said:

Would this transfer be then accepted by Thai immigration as it would just show TransferWise and not a bank even though it would originally come from one.

 

Yes, as it "should" be listed as an overseas transfer.

[LoVeFuN]

On 1/18/2021 at 8:28 PM, uncleP said:

technically transferwise is a local transfer. you pay elsewhere and money located here is given to you. That said I gave never had an issue at CW.

So  to be clear if the transfer is made by TransferWise  into a future Thai bank this could present problems for me as it would appear as a local transfer which I gather is not acceptable to the visa requirements. Even though my account with TransferWise is a border less Euro account with a Brussels address and IBAN and account in my name. Why would it show as local.

Has anybody else used TransferWise for depositing to Thai bank for visa requirements . In my case it would be 400,000 needed for 2 months in Thai bank. You refer to CW what is that , many thanks for your help but I want to get this right.

[KhunBENQ]

Might be useful to print the "PDF receipt" for every transfer.

It proves at least that foreign currency has been transferred.

It shows the amount of foreign currency and the amount in Baht corresponding with your bankbook.

 

[LoVeFuN]

17 minutes ago, KhunBENQ said:

Might be useful to print the "PDF receipt" for every transfer.

It proves at least that foreign currency has been transferred.

It shows the amount of foreign currency and the amount in Baht corresponding with your bankbook.

 

Many thanks I found that TransferWise say that you require an FET which you can get off the bank that transferred the transaction as it initially shows as a local transaction

In some cases TransferWise use say Kasikorn to pay into Bangkok bank.And you would need to go to Kasikorn with the details of the transaction and maybe pay a small administration fee.

They advise using a Swift transfer to avoid this which would be more problematic for me if I am doing from Thailand as they would probably send me a security code to my Irish mobile which would be unobtainable if using a Thai mobile number.

Many thanks.

[billd766]

1 hour ago, LoVeFuN said:

Many thanks I found that TransferWise say that you require an FET which you can get off the bank that transferred the transaction as it initially shows as a local transaction

In some cases TransferWise use say Kasikorn to pay into Bangkok bank. And you would need to go to Kasikorn with the details of the transaction and maybe pay a small administration fee.

They advise using a Swift transfer to avoid this which would be more problematic for me if I am doing from Thailand as they would probably send me a security code to my Irish mobile which would be unobtainable if using a Thai mobile number.

Many thanks.

I have been using TW for a couple of years now and transfers to Bangkok Bank with my 3 pensions have ALWAYS shown up as international transfer. I have used the income method rather than 400,000 in the bank for my marriage extension and Immigration at Kamphaeng Phet have accepted it for the last 2 years without question.

 

I set my receiving bank to the BBK account at TW and there is no problem. You can specify with TW which phone number you want the alert sent to. I must ask if they will send it to my wife's Thai mobile as well as she will be in receipt of a couple of pensions when I pop my clogs.

 

After the monies hit my BBK account I transfer them the same day to my Kasikorn joint account. I get a letter and 12 months statements for the BKK account and just 12 months statements from Kasikorn.

[Pib]

18 hours ago, LoVeFuN said:

So  to be clear if the transfer is made by TransferWise  into a future Thai bank this could present problems for me as it would appear as a local transfer which I gather is not acceptable to the visa requirements. Even though my account with TransferWise is a border less Euro account with a Brussels address and IBAN and account in my name. Why would it show as local.

 

Why would it show local, you ask.  Because the last leg of the transfer is between Thai banks....that is a domestic/local transfer.  That's how TW has their transfer system setup....partner banks around the world.  TW has three Thai partner banks....Bangkok Bank, K-Bank and ThaiMilitary Bank (TMB).   When you initiate a transfer with TW they will send instructions to one of their Thai partner banks to locally/domestic transfer funds from TW's acct with the partner bank to your Thai bank acct.    These instructions are not via the SWIFT system like a conventional bank-to-bank transfer.

 

If your bank acct is with Bangkok Bank and TW uses Bangkok Bank as the partner bank for your particular transfer Bangkok Bank will code the transfer as an International Transfer vs domestic transfer but that's purely an internal Bangkok Bank policy.   Now if TW decided to use K-bank or TMB for your particular transfer to your Bangkok Bank acct (or any other Thai bank acct) you would receive local/domestic transfer coding.

 

 

[lopburi3]

1.  OA visa has nothing to do with marriage - it is a pre-approved one year extension of stay for retirement.  Believe you are talking one year extension of stay for retirement.

2.  As said TW uses Thai Bank accounts to deposit the baht into your account - TW has added a reason for transfer as being for long term stay in Thailand so if you check that reason a deposit to a Bangkok Bank account will use that bank account to make and be recorded as international on passbook.   And that is often accepted.

3.  CW is short for Chiang Watanna (Bangkok immigration office).

4.  TW has transfer PDF available for download and it is often accepted by Immigration.

5.  Bank can issue a paper report of transfer showing full path and that is also normally accepted.

[LoVeFuN]

Many thanks for the help, very useful that if you select long term stay it would give you an international transfer. However TransferWise say that you can obtain an FET form,( ref : my last post )that's if the bank staff were helpful I suppose.

Yes I did mean the non immigrant O based on retirement.

I know that you can amend your phone number with TransferWise in Thailand as I have done it before successfully and a Swift transfer with Bank of Ireland would also need to be changed and this is my concern if it would accept a Thai number.  When the time comes I may go for TransferWise and follow the advice on here.

Many thanks again guys.

[Pib]

12 hours ago, LoVeFuN said:

Many thanks for the help, very useful that if you select long term stay it would give you an international transfer. However TransferWise say that you can obtain an FET form,( ref : my last post )that's if the bank staff were helpful I suppose.

 

A Foreign Exchange Transaction (FET) form/letter is usually only issued for BIG transfers...like over 50K USD....normally people get this when they plan to buy a big ticket item like a condo..   

 

For lower sums, like monthly transfers for living expenses, you would as for a "Credit Advice" which shows various things such as who sent the funds, how much, etc. 

Edited January 27, 2021 by Pib

[Peter Denis]

On 1/25/2021 at 12:25 PM, LoVeFuN said:

So  to be clear if the transfer is made by TransferWise  into a future Thai bank this could present problems for me as it would appear as a local transfer which I gather is not acceptable to the visa requirements. Even though my account with TransferWise is a border less Euro account with a Brussels address and IBAN and account in my name. Why would it show as local.

Has anybody else used TransferWise for depositing to Thai bank for visa requirements . In my case it would be 400,000 needed for 2 months in Thai bank. You refer to CW what is that , many thanks for your help but I want to get this right.

>> Did PM you a Guideline document on TransferWise and the various options you have to get hold of the evidence that the funds originated from abroad.

But it is probably irrelevant because non-applicable in your case, as you seem to be applying for a 1-year extension based on your original Non Imm O or O-A Visa.  And irrespective whether you do this for reason of marriage or for reason of retirement, there is NO need to provide evidence of the source of the funds when using the +800k/400K Funds-in-Bank method.

Evidence of the foreign origin of the funds is only needed when applying in-country for the 90-day Non Imm O Visa for reason of retirement, and it is also required when using the +65K/40K Monthly Income Transfer method.

P.S.: CW stands for Chiang Wattana, which is the huge government complex where the Bangkok Imm Office is located where you would need to apply for Visa and extensions when your place of residence is in Bangkok.  Note that for some services (e.g. 90-day reports) this has to be done at the new Muang Thong Thani location, some 20 minutes drive from CW.