Popular Post Pib Posted October 25, 2021 Popular Post Share Posted October 25, 2021 30 minutes ago, lopburi3 said: Indeed was thinking ACH was from government rather than Wise. Thanks. What are the requirements for direct deposit to Wise? Normal US Bank ACH data? Was not aware of that option (to direct deposit to borderless account as never checked on that - but starting to sound like an option). Thanks again for the detailed report. Requirements no different than depositing to a bank. Just need to provide the pension paying agency the ACH routing number and acct number issued to you when you open a Wise multicurrency acct. And it more of an "activation" of your multicurrency acct within your Wise acct versus opening a new acct. Opening a new acct can cause visions of providing tons of data, identity verification, etc., like when opening a bank acct. But activating the multicurrency acct is basically Wise doing a $20 pull of funds from one of your bank accts as that somehow satisfies the needs of activating the acct. Even though they have probably pulled funds from one or more of your bank accts when funding a transfer via Bank Debit (ACH) they still do this pull of funds for "$20." And they may offer you their debit card during this process also, which I turned down....getting a debit card is purely optional. Or that the $20 pull amount was what they required when I activated my multicurrency acct around a year ago. It's not a fee; it's just the minimum amount to kickstart a multicurrency acct I guess. Kinda like how Thai bank want a Bt500 opening deposit but the next day you could take the acct to zero if desired. Once the acct is fully activated in a day or two....once the $20 clears....then you can draw the balance down to zero if desired like my balance normally is except when I want to do a transfer....a few days before I will ACH "push" some money to my Wise acct to top up my balance. I have setup transfer links at some of my banks to push to my Wise multicurrency acct. During that activation process you will be issued a routing and acct numbers which you can used to setup ACH transfer links at your banks, direct deposits from U.S. govt agencies, direct debit to pay bills, etc. Now although the multicurrency acct appears to be a real bank acct, it not really...I mean not a full fledged bank acct. It has no FDIC coverage, like $250K for a real bank acct in the U.S., does not pay interest, etc. It's really a subaccount of a Wise master account that Wise has with one of it's U.S. partner banks. The ACH routing number will probably be 026073150 which cross references to the Community Federal Savings Bank in New York. This bank appears to be Wise main partner bank in the U.S....the bank which interfaces to the ACH system...where Wise keeps its main/master acct...I think Wise also has some other U.S. partner bank also. So, when you get your Wise multicurrency ACH routing number issued and you search that number it will lead to a bank....probably the CFSB mentioned above. They will also issue you routing number/codes for Wires and SWIFT...that is to receive money via a Wire or SWIFT....and the ACH routing number as talked. Yea...a Wise multicurrency acct is a good thing....provides various benefits talked in this and earlier posts. 1 2 Link to comment Share on other sites More sharing options...
Pib Posted October 25, 2021 Share Posted October 25, 2021 (edited) 49 minutes ago, racyrick said: Do you have to have a multi currency account to make a transfer from my bank to Bangkok Bank-NY branch? Can you use the Debit ACH pull from my bank to transfer to the Bangkok Bank-NY branch? Thanks - Yes - Not really sure what you are asking. To transfer money to the Bangkok Bank NY branch (i.e., what Wise also refers to as a local transfer....with country transfer) you would have to do that by funding the transfer from your multicurrency acct. And to fund the multicurrency acct funds can be pulled or pushed to the acct. You can push from your bank acct or pull from your bank acct to top-up your multicurrency acct. Just review the Wise website regarding their multicurrency accts.....tons of info. Edit: I just updated above to say you can push "or pull" funds. Initially, I don't think you could do an ACH pull to top-up your multicurrency acct so that was still running around in my brain. But you definitely top-up via ACH pull now plus a few other methods if you don't want to push the money instead. I just did an operational test by adding/topping-up $50 by "pulling" it from my U.S. bank acct. It posted to my Wise multicurrency acct in about 15 seconds...and the $50 top-up only cost 8 cents....don't know what a say a $2,100 pull would cost. But other than this test, I would continue to "push" money from my U.S. bank as that don't cost me anything. Edited October 25, 2021 by Pib 1 Link to comment Share on other sites More sharing options...
lexilis Posted October 25, 2021 Share Posted October 25, 2021 "Do you have to have a multi currency account to make a transfer from my bank to Bangkok Bank-NY branch? Can you use the Debit ACH pull from my bank to transfer to the Bangkok Bank-NY branch? Thanks" I did the transfer through BBK NY as a domestic (US) transfer from my Wise USD account (which I have no idea is a "multi-currency account" or not). It was in my Thai BBK account (in Baht, coded FFT) in two days. As Pib noted, BBK NY only accepts incoming transfers to Thailand IF they are in the International ACH (IAT) format. To avoid an issue with that, fund your Wise account with the Debit ACH, then do the transfer from that to BBK NY. 1 Link to comment Share on other sites More sharing options...
Popular Post Pib Posted October 25, 2021 Popular Post Share Posted October 25, 2021 Update to my above post. A $2,100 Bank Debit (ACH) "pull" to top-up your multifunctional acct would cost $3.36. Or do it for free by pushing it from your bank. 3 Link to comment Share on other sites More sharing options...
Pib Posted October 25, 2021 Share Posted October 25, 2021 2 minutes ago, lexilis said: I did the transfer through BBK NY as a domestic (US) transfer from my Wise USD account (which I have no idea is a "multi-currency account" or not). It was your "multicurrency" acct which Wise use to call its "borderless" acct. Transferwise, excuse me Wise, likes to change the names periodically. 2 Link to comment Share on other sites More sharing options...
Pib Posted October 25, 2021 Share Posted October 25, 2021 How to make USD to USD transfers with Wise like from Wise to a "U.S. bank" such as the Bangkok Bank NY branch. Also talks the multicurrency (a.k.a., borderless) acct in general. https://wise.com/us/blog/make-us-dollar-to-us-dollar-transfer 2 Link to comment Share on other sites More sharing options...
gearbox Posted October 25, 2021 Share Posted October 25, 2021 On 10/18/2021 at 11:53 AM, gearbox said: I've done 2 more transfers, both came as FTT in my Bangkok bank ibanking. Looks it is fixed for me now. I did yet another transfer, cleared up today, marked again as FTT by Bangkok bank. I see in the thread that there is no clear resolution of the problem by Wise, but I did 5 transfers since 15th October and all came correctly tagged as international transfers. 2 Link to comment Share on other sites More sharing options...
scubascuba3 Posted October 25, 2021 Author Share Posted October 25, 2021 2 minutes ago, gearbox said: I did yet another transfer, cleared up today, marked again as FTT by Bangkok bank. I see in the thread that there is no clear resolution of the problem by Wise, but I did 5 transfers since 15th October and all came correctly tagged as international transfers. Sounds like your account is tagged? as long term stay reason doesn't work anymore Link to comment Share on other sites More sharing options...
treetops Posted October 25, 2021 Share Posted October 25, 2021 3 minutes ago, gearbox said: I did yet another transfer, cleared up today, marked again as FTT by Bangkok bank. I see in the thread that there is no clear resolution of the problem by Wise, but I did 5 transfers since 15th October and all came correctly tagged as international transfers. You may have mentioned it upthread, but have you previously "tagged" your BBL account for transfers via BBL? Link to comment Share on other sites More sharing options...
gearbox Posted October 25, 2021 Share Posted October 25, 2021 Just now, scubascuba3 said: Sounds like your account is tagged? as long term stay reason doesn't work anymore Yes, after a few email exchanges they told me they tagged the profile to go via Bangkok Bank. But cautioned me that the tagging doesn't work 100%. "Hello YYYY, Thanks for getting back to us. We've added the tag on your profile to make sure all your future transfers go through Bangkok bank. But, sometimes, we can;t guarantee it." Link to comment Share on other sites More sharing options...
billd766 Posted October 25, 2021 Share Posted October 25, 2021 11 minutes ago, scubascuba3 said: Sounds like your account is tagged? as long term stay reason doesn't work anymore My Wise/BBK account is tagged nd has ben for several years. Long Term stay certainly works for me, and probably quite a few other posters as well. 1 Link to comment Share on other sites More sharing options...
treetops Posted October 25, 2021 Share Posted October 25, 2021 4 minutes ago, billd766 said: Long Term stay certainly works for me, and probably quite a few other posters as well. Not any more without the tagging if this thread is anything to go by. 1 1 Link to comment Share on other sites More sharing options...
billd766 Posted October 25, 2021 Share Posted October 25, 2021 7 minutes ago, treetops said: Not any more without the tagging if this thread is anything to go by. But as I posted earlier my BBK account IS already tagged and has been for over 2 years. I believe that many other people have their account tagged and the system works well for us. 1 Link to comment Share on other sites More sharing options...
Popular Post Pib Posted October 25, 2021 Popular Post Share Posted October 25, 2021 11 minutes ago, billd766 said: My Wise/BBK account is tagged nd has ben for several years. Long Term stay certainly works for me, and probably quite a few other posters as well. You are continuing to get FTT coding because your acct is tagged; not because you are using Long Term Stay. Maybe you have test it already/posted about it already in this long thread, but if you send a transfer using any of the other reasons it would get coded at FTT also "since your acct has been tagged to use Bangkok Bank as the partner bank." 3 Link to comment Share on other sites More sharing options...
treetops Posted October 25, 2021 Share Posted October 25, 2021 1 minute ago, billd766 said: But as I posted earlier my BBK account IS already tagged and has been for over 2 years. I believe that many other people have their account tagged and the system works well for us. Then you have no need for "long term stay". Your recent post was misleading. 2 Link to comment Share on other sites More sharing options...
HappyGoLuckyLife Posted October 25, 2021 Share Posted October 25, 2021 I hear a lot of people talk about tagging their Wise accounts. Is there a link I can learn more about this? Link to comment Share on other sites More sharing options...
treetops Posted October 25, 2021 Share Posted October 25, 2021 4 minutes ago, HappyGoLuckyLife said: I hear a lot of people talk about tagging their Wise accounts. Is there a link I can learn more about this? There are probably hundreds of discussions mentioning it, but essentially if you want your transfers marked as coming from overseas, call Wise and ask them to tag your destination account to be tagged for incoming transfers to go through Bangkok Bank as the partner bank. From this thread it seems like some Wise staff may not be aware of this option, so HUACA if this seems to be the case. 1 Link to comment Share on other sites More sharing options...
bbko Posted October 25, 2021 Share Posted October 25, 2021 4 minutes ago, HappyGoLuckyLife said: I hear a lot of people talk about tagging their Wise accounts. Is there a link I can learn more about this? I don't have a link, but with Wise, tagged/tagging happens when you contact Wise and ask them to put a special rule or request on your account or transfers. Example, I emailed Wise and asked them to only route my Thai baht (THB) transfers through Bangkok Bank, they responded by saying they placed a tag on my future THB transfers. 2 Link to comment Share on other sites More sharing options...
kalasiner Posted October 25, 2021 Share Posted October 25, 2021 I thought this reply from Wise may be of interest. I had arranged tagging and had wanted to ensure that my correct Bangkok Bank account had been tagged. "The tag is not related to one account number but rather the route from one currency to THB currency. So as long as that particular banking partner is fully functioning, we will be sending out payments via them therefore transfers will show up as international transfers.I hope that helps. Let me know if you have any questions" In my case "the route from one currency to THB currency" is EUR to THB. 1 Link to comment Share on other sites More sharing options...
Pib Posted October 25, 2021 Share Posted October 25, 2021 5 minutes ago, treetops said: There are probably hundreds of discussions mentioning it, but essentially if you want your transfers marked as coming from overseas, call Wise and ask them to tag your destination account to be tagged for incoming transfers to go through Bangkok Bank as the partner bank. From this thread it seems like some Wise staff may not be aware of this option, so HUACA if this seems to be the case. Tagging only works "when sending to a Bangkok Bank acct" with Bangkok Bank being the partner bank used. if not sending to a Bangkok Bank acct (i.e., Kbank, SCB, Krungsri, etc) although Wise will use Bangkok Bank as the partner bank the transfer will "not" receive international transfer coding at the receiving bank. 1 Link to comment Share on other sites More sharing options...
treetops Posted October 25, 2021 Share Posted October 25, 2021 1 minute ago, kalasiner said: I thought this reply from Wise may be of interest. I had arranged tagging and had wanted to ensure that my correct Bangkok Bank account had been tagged. "The tag is not related to one account number but rather the route from one currency to THB currency. So as long as that particular banking partner is fully functioning, we will be sending out payments via them therefore transfers will show up as international transfers.I hope that helps. Let me know if you have any questions" In my case "the route from one currency to THB currency" is EUR to THB. That doesn't correspond to experiences mentioned upthread where it's the receiving account that gets tagged. I think you may have fallen victim to a Wise employee who doesn't know what they're talking about. Link to comment Share on other sites More sharing options...
treetops Posted October 25, 2021 Share Posted October 25, 2021 1 minute ago, Pib said: Tagging only works "when sending to a Bangkok Bank acct" with Bangkok Bank being the partner bank used. if not sending to a Bangkok Bank acct (i.e., Kbank, SCB, Krungsri, etc) although Wise will use Bangkok Bank as the partner bank the transfer will "not" receive international transfer coding at the receiving bank. Agreed, I missed that bit. Link to comment Share on other sites More sharing options...
kalasiner Posted October 25, 2021 Share Posted October 25, 2021 14 minutes ago, treetops said: That doesn't correspond to experiences mentioned upthread where it's the receiving account that gets tagged. I think you may have fallen victim to a Wise employee who doesn't know what they're talking about. I'm sure the Wise employee consulted with the appropriate department before sending her message. Link to comment Share on other sites More sharing options...
Pib Posted October 25, 2021 Share Posted October 25, 2021 When your acct is "tagged" what is really being tagged is not your Wise acct but which ever "recipient" account(s) you asked to be tagged. Say you had five recipient accts. When you ask Wise to tag your acct they typically ask you which recipient(s) you want tagged....a specific one, these two, these three, these four, or all of them. Some people may only want a certain recipient tagged or maybe all his recipients. If a person say only had one recipient and asked for their acct to be tagged then Wise might not ask which recipients because you only have one recipient....so, that could give the person the impression his whole acct was tagged. However, if he was to add a new recipient it would not be tagged until he went back to Wise and asked for that recipient to also be tagged. If you have multiple recipient asking for "all your recipients" to be tagged to use Bangkok Bank as the partner bank may not be a smart move in those cases you don't care about FTT coding on a Bangkok Bank acct. Instead, you care more about instant transfers to certain recipients. When a recipient gets tagged to be routed thru Bangkok Bank as the partner bank then your transfer will not be instant but post later in the day around 2pm or next business day. And as mentioned in another post, if Bangkok Bank is just relaying it to another Thai bank then international coding does not occur. This international transfer/FTT coding is purely an "intra-Bangkok Bank" thing...that is, when Bankgok Bank is the partner bank and the recipient is a Bangkok Bank acct. 2 Link to comment Share on other sites More sharing options...
treetops Posted October 25, 2021 Share Posted October 25, 2021 1 minute ago, kalasiner said: I'm sure the Wise employee consulted with the appropriate department before sending her message. And I'm sure the moon is made of green cheese. 1 Link to comment Share on other sites More sharing options...
Pib Posted October 25, 2021 Share Posted October 25, 2021 Example of tagging when having multiple Bangkok Bank recipients. I have four Bangkok Bank recipients loaded in my Wise acct. I had two of those recipient accts tagged to use Bangkok Bank as the partner bank and the other two Bangkok Bank recipients are not tagged. When I send funds to the two "tagged" accts using whatever reason for transfer they arrive with FTT coding around 2pm same business day or next business day around 2pm. When I send fund to the other two "non-tagged" accts using whatever reason for transfer they typically arrive instantly and without FTT coding because Wise seems to be typically using K-bank for the partner bank. But if by chance Wise happened to pick Bangkok Bank as the partner bank for that non-tagged transfer the transfer will arrive with FTT coding around 2pm same business or 2pm next business day. 2 Link to comment Share on other sites More sharing options...
billd766 Posted October 25, 2021 Share Posted October 25, 2021 2 hours ago, treetops said: Then you have no need for "long term stay". Your recent post was misleading. But not misleading to me as I believe in the KISS principle. I also believe in the engineering principle of "If it works, then don't fark with it". 1 Link to comment Share on other sites More sharing options...
Popular Post TheAppletons Posted October 25, 2021 Popular Post Share Posted October 25, 2021 (edited) I came to this thread to report that a WISE transfer (today) to my BKB account also resulted in a "Money from Other Bank" (MOB) designation. As usual, Pib is way ahead and has provided very useful information. Thanks, Pib! Edited October 25, 2021 by TheAppletons Typo 3 Link to comment Share on other sites More sharing options...
scubascuba3 Posted October 25, 2021 Author Share Posted October 25, 2021 10 hours ago, billd766 said: My Wise/BBK account is tagged nd has ben for several years. Long Term stay certainly works for me, and probably quite a few other posters as well. Try it using any of the other reasons for transfer, it will still work hence long term stay does nothing now 1 1 Link to comment Share on other sites More sharing options...
billd766 Posted October 26, 2021 Share Posted October 26, 2021 6 hours ago, scubascuba3 said: Try it using any of the other reasons for transfer, it will still work hence long term stay does nothing now Then why would I bother to change it? If it works, then don't frak with it. 1 Link to comment Share on other sites More sharing options...
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