Money Transfer

[DPKANKAN]

1 minute ago, Taccos said:

I have now opened an account at Bangkok bank which went very smoothly, only presenting passport and 1-year rental contract.
One more question though: when sending the funds to Bangkok Bank via Wise does the amount have to mirror my actual pension payment, or is any amount in excess of THB 65k acceptable for IO purposes?

65,000 is minimum monthly for your Visa. Anything above that is no issue. My problem was only when I sent over 100,000baht in some months and it was it sent to my Kasikorn account via Bangkok Bank

[EricTh]

6 hours ago, DPKANKAN said:

Alledgedly, I have received an email from TWise confirming that all money will in future be sent direct to Kasikorn Bank.

I was knocked back by immigration today until I can get the confirmation and statement from Bangkok Bank.

As my renewal was due tomorrow thet have given me a 60 day extension, of course at a cost of the same annual fee!!

I have corresponded with Twise before , different staff will give different answers. Their staff seem to be stationed in India judging by the names.

I also had nonsensical reply before.

I suggest you do like what others here said and just open up a Bangkok Bank account.

It seems that if the amount is big, they go through Bangkok Bank. If the amount is small, then Kasikorn will do the transfer.

There's no need to take any risks with Kasikorn bank or the email staff because if anything goes wrong, they won't be held responsible.

Edited March 18, 2021 by EricTh

[EricTh]

15 minutes ago, Taccos said:

I have now opened an account at Bangkok bank which went very smoothly, only presenting passport and 1-year rental contract.
One more question though: when sending the funds to Bangkok Bank via Wise does the amount have to mirror my actual pension payment, or is any amount in excess of THB 65k acceptable for IO purposes?

As long as it is over THB 65K, it is acceptable.

[Jeffrey346]

On 3/18/2021 at 3:40 PM, Pib said:

I signed up for a WU U.S. acct last year and did two test transfers of $50 to my Bangkok Bank acct.  Both showed up as Bahtnet transfers (i.e., domestic transfers).  Plus, after initiating each transfer online a few hour later I got an automated phone call from WU saying I need to call them within 12 hours to re-verification otherwise the transfer would be cancelled.  I called...had to wait about 10 minutes of listening to elevator music before getting a human....satisfied them it was really me initiating the transfer.  Then each transfer didn't show up for 3-4 days as WU waited approx 3 days for the funding to clear....I was funding by them pulling the money from my bank acct via ACH debit/pull (not debit card, ACH debit like how Wise will use a ACH Bank debit to fund a transfer.   Now if using a debit card the fee would have been $2.99 (I expect that's how you fund your transfers) and transfer time is suppose to be 1 to 2 business days.  But if I wanted to send a big chunk of money I'm not sure if I could fund more than $1,000 per transfer with my debit card since it has a daily cash withdrawal limit of $1,000....maybe if the transfer is treated as a "purchase" I could fund more...don't know as I only use my credit cards to buy/purchase stuff.

Although the WU exchange rates are indeed competitive when using your online WU acct (not like their crappy rates you get if going to a WU agent to initiate a transfer),  the slowness of the transfer for an ACH bank debit which was fee-free, having to call each time to reverify myself, and then getting the Bahtnet coding just turned me off.

Just as FYI for other listening below is a WU vs Wise comparison for sending $2,200 worth of baht to Thailand as of 18 Mar 2021 at 3:30pm Thailand time.  Wise wins by a little of 1000 baht.

 

WU Transfer via U.S. Online Acct

 

Transferwise transfer

Hey I can relate. Some of us have issues others don"t..

I usually send $2400 via WU to my BKK account. Never had an issue..