Wise transfers not being processed as International (Specifically Bangkok Bank)

[OJAS]

On 11/3/2021 at 6:10 PM, Phulublub said:

The transfer fee may be zero, but what exchange rate will your get?

 

PH

Plus no guarantee of the coveted FTT/International Transfer coding either, I would have thought, if First Direct's/HSBC's agency/partner bank in Thailand is not Bangkok Bank (with whom @keithcresswell, I assume, holds his Thai bank account).

[scubascuba3]

25 minutes ago, OJAS said:

Plus no guarantee of the coveted FTT/International Transfer coding either, I would have thought, if First Direct's/HSBC's agency/partner bank in Thailand is not Bangkok Bank (with whom @keithcresswell, I assume, holds his Thai bank account).

I'm confident he would get FTT as it's a swift transfer, it's just the potential hidden fees later plus the average exchange rate from a thai bank

[MJCM]

On 10/15/2021 at 4:40 PM, MJCM said:

Yeah I fully agree (so sorry for hijacking).

 

Will try and post back!

I finally had a chance to do a transfer via Wise and selected Purchase of Property in the drop down box and the recipient (me) bank was Bangkok Bank.

 

Amount was 200.000 THB and it was received 14:01 on Wednesday with the Channel being AUTO and Description "Interbank Transfer via Smart" so also NO FTT!!

[scubascuba3]

26 minutes ago, MJCM said:

I finally had a chance to do a transfer via Wise and selected Purchase of Property in the drop down box and the recipient (me) bank was Bangkok Bank.

 

Amount was 200.000 THB and it was received 14:01 on Wednesday with the Channel being AUTO and Description "Interbank Transfer via Smart" so also NO FTT!!

We know already that "purchase of property" does nothing, has Wise confirmed it's tagged correctly?

 

Settling 2pm is suspicious as often they are FTT

[lopburi3]

32 minutes ago, MJCM said:

Amount was 200.000 THB and it was received 14:01 on Wednesday

At what time did you request the transfer - how long did it take?

[MJCM]

15 minutes ago, lopburi3 said:

At what time did you request the transfer - how long did it take?

I send it around 4pm Thai Time and arrive 2.01pm the next day.

 

PDF says, funded 2-11 and paid out 3-11 and delivered via local bank transfer (Kasikorn)

 

Edit: SMS from BKK Bank says AUTO!

Edited November 5, 2021 by MJCM

[MJCM]

I will do another test (just to confirm) to my SCB account!!

 

Will report back and will use same option (Purchase of Property) as that is what we are going to use it for!

[scubascuba3]

48 minutes ago, MJCM said:

I will do another test (just to confirm) to my SCB account!!

 

Will report back and will use same option (Purchase of Property) as that is what we are going to use it for!

What are you trying to prove using SCB? that won't settle as Intl, i can tell you that now

[scubascuba3]

52 minutes ago, MJCM said:

I send it around 4pm Thai Time and arrive 2.01pm the next day.

 

PDF says, funded 2-11 and paid out 3-11 and delivered via local bank transfer (Kasikorn)

 

Edit: SMS from BKK Bank says AUTO!

maybe you can post a screen shot of the BB app entry or online entry?

[treetops]

2 minutes ago, scubascuba3 said:

maybe you can post a screen shot of the BB app entry or online entry?

Maybe SMART transactions are also timed?  We don't see them mentioned as much as Transfer from another bank.

[scubascuba3]

2 minutes ago, treetops said:

Maybe SMART transactions are also timed?  We don't see them mentioned as much as Transfer from another bank.

Maybe but usually non FTT take minutes so sounds suspicious

[MJCM]

20 minutes ago, scubascuba3 said:

maybe you can post a screen shot of the BB app entry or online entry?

Here you go

 

SMS Received was at 14:01

 

 

[MJCM]

23 minutes ago, scubascuba3 said:

What are you trying to prove using SCB? that won't settle as Intl, i can tell you that now

Maybe it's different! I need to transfer money in anyway so it's not a big a deal! But oke if you say so I won't bother!

 

[MJCM]

And here a screenshot of the sms

 

 

[MJCM]

And finally here a part of the PDF from Wise where you can see that I paid on the 2nd and it was paid out on the 3rd.

 

 

And ....

 

 

Edited November 5, 2021 by MJCM

[fangless]

6 hours ago, OJAS said:

Plus no guarantee of the coveted FTT/International Transfer coding either, I would have thought, if First Direct's/HSBC's agency/partner bank in Thailand is not Bangkok Bank (with whom @keithcresswell, I assume, holds his Thai bank account).

HSBC have their own branch on Rama 1V Rd in BKK also First Direct will not let you open an account if you are not resident in the UK.  Need to get a UK resident to TX but it is  unlikely to show as a FTT.

[scubascuba3]

30 minutes ago, MJCM said:

Here you go

 

SMS Received was at 14:01

 

 

You may have said this already but have you tagged your BB account so transfers are routed via BB partner bank?

[MJCM]

2 minutes ago, scubascuba3 said:

You may have said this already but have you tagged your BB account so transfers are routed via BB partner bank?

No, how do I that?? And why did TW change this .... s...t?? If I keep doing this it's hard to get prove for the Land Office that the money originated from abroad!!

[scubascuba3]

1 minute ago, MJCM said:

No, how do I that?? And why did TW change this .... s...t?? If I keep doing this it's hard to get prove for the Land Office that the money originated from abroad!!

You need to contact Wise and ask them to tag your Bangkok Bank account so that transfers are routed via their Bangkok Bank partner bank, this means it will be shown as International (FTT).

 

If the Wise person doesn't understand this ask for it to be escalated to their manager and keep going until they tag your account.

 

Test the tagging by transferring a small amount before making an important larger transfer.

 

Sometimes Wise misunderstand and may think tagging means you are just picking a default account, so ensure they don't make this mistake

[MJCM]

2 minutes ago, scubascuba3 said:

You need to contact Wise and ask them to tag your Bangkok Bank account so that transfers are routed via their Bangkok Bank partner bank, this means it will be shown as International (FTT).

 

If the Wise person doesn't understand this ask for it to be escalated to their manager and keep going until they tag your account.

 

Test the tagging by transferring a small amount before making an important larger transfer.

 

Sometimes Wise misunderstand and may think tagging means you are just picking a default account, so ensure they don't make this mistake

Thx.

 

I hope it works else I am back using my usual Normal Bank Account and doing transfers via Swift!! (This will add another xxxxx THB to buying the Thai Property  ???? )

[scubascuba3]

2 minutes ago, MJCM said:

Thx.

 

I hope it works else I am back using my usual Normal Bank Account and doing transfers via Swift!! (This will add another xxxxx THB to buying the Thai Property  ???? )

As the process has gone wrong recently and you are buying a property once the tagging is set up i would send a few test transfers to make sure they are Intl before the big one, or to avoid the risk use swift

[keithcresswell]

I received this email from Wise today.   Paul (TransferWise) Nov 5, 2021, 14:54 GMT+1 Hello Keith, Thanks for getting back to us. Apologies for the confusion. When selecting the purpose of the transfer, this is needed due to how we are regulated we need to know the purpose of the transfer. This doesn't mean it will be sent out as an international transfer. We always send transfers out as a local transfer from our partner bank. Please note we aren't authorised by the Bank of Thailand to issue FET forms. How can you get a FET form? You'll need to ask for a FET form from the partner bank that we paid your money out from. You can check which bank this is on your transfer receipt. To find it: 1.    Go to the transfer in the Activity section of your Wise account 2.    Click View transfer details 3.    Click Download PDF receipt 4.    Go to the second page to find banking partner details You can read all about this on our website Guide to THB transfers which we have advised every customer. If you have any questions, please don't hesitate to get back to us. All the best.   Paul | Wise

[scubascuba3]

5 hours ago, keithcresswell said:

I received this email from Wise today.     Paul (TransferWise) Nov 5, 2021, 14:54 GMT+1 Hello Keith, Thanks for getting back to us. Apologies for the confusion. When selecting the purpose of the transfer, this is needed due to how we are regulated we need to know the purpose of the transfer. This doesn't mean it will be sent out as an international transfer. We always send transfers out as a local transfer from our partner bank. Please note we aren't authorised by the Bank of Thailand to issue FET forms. How can you get a FET form? You'll need to ask for a FET form from the partner bank that we paid your money out from. You can check which bank this is on your transfer receipt. To find it: 1.    Go to the transfer in the Activity section of your Wise account 2.    Click View transfer details 3.    Click Download PDF receipt 4.    Go to the second page to find banking partner details You can read all about this on our website Guide to THB transfers which we have advised every customer. If you have any questions, please don't hesitate to get back to us. All the best.   Paul | Wise

nothing new there, that's why you have to get your account tagged and explain what that means

[theoldgit]

16 hours ago, fangless said:

HSBC have their own branch on Rama 1V Rd in BKK also First Direct will not let you open an account if you are not resident in the UK.  Need to get a UK resident to TX but it is  unlikely to show as a FTT.

Whilst the HSBC have a branch on Rama IV domestic customers cannot open an account there or use any of the services.

They closed all accounts there years ago.

A friend of mine sends his funds from his HSBC branch in the UK to his account with Bank of Ayudhya, the Rama IV branch act as an intermediary bank, receive and pass the funds on, and charge a fee for their trouble, Bank of Ayudhya charge a fee to receive the cash.

[fangless]

1 hour ago, theoldgit said:

A friend of mine sends his funds from his HSBC branch in the UK to his account with Bank of Ayudhya, the Rama IV branch act as an intermediary bank, receive and pass the funds on, and charge a fee for their trouble, Bank of Ayudhya charge a fee to receive the cash.

Does that TX show as FTT and if so did he have to arrange anything specific with HSBC?

[Pib]

19 hours ago, treetops said:

Maybe SMART transactions are also timed?  We don't see them mentioned as much as Transfer from another bank.

Yeap...that could be it.  SMART does both "bulk" transactions which happen X-amount of times per day and also "real time" individual  transactions throughout the day.  Also the size of this transfer (Bt200K) may have resulted in it being processed in a bulk transaction to reduce transfer cost between Thai banks.

[theoldgit]

2 hours ago, fangless said:

Does that TX show as FTT and if so did he have to arrange anything specific with HSBC?

Sorry I don’t know if he gets that code, he uses the 800k bank deposit route, so he’ll not be too bothered.

[Katsura]

On 11/3/2021 at 2:21 PM, Katsura said:

This might be interesting or save some time:

I have reached out to Dee Money (contact information found here: https://www.deemoney.com/branch/) and this is the reply I got (see attachment). It looks like providing these sorts of receipts is standard operating procedure for them.

 

 

Update: After a few days I have received the letter below from Dee Money. Apparently their company is called Sawsdeeshop which was a bit surprising since that doesn't sound like a bank and more like a souvenir shop...

 

Anyway, in a few days I'm going to Chaeng Watthana for a 1-year marriage extension. I hope this will satisfy the IO. 

By the way, does anyone know if having the receipt from Wise in English will be fine? Or do I need to have it translated to Thai? 

[Pib]

In English is fine.  

[norbra]

On 10/21/2021 at 1:34 PM, KannikaP said:

Will PM to you.

 

Did you forget about sending this for me?

Kbank credit advice thanks