Jump to content

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


Recommended Posts

58 minutes ago, billd766 said:

Then why would I bother to change it?

Nobodies asking you to change it, they are merely clarifying a misleading post which, given the potential ramifications of that post, is IMO warranted.

  • Like 1
Link to comment
Share on other sites

50 minutes ago, Salerno said:

Nobodies asking you to change it, they are merely clarifying a misleading post which, given the potential ramifications of that post, is IMO warranted.

That won't happen until my next transfer on 15th November.

 

I didn't post anything misleading, just explaining that it works for me.

  • Like 1
Link to comment
Share on other sites

17 hours ago, Pib said:

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.   

That certainly appears to bear out my experience. I have 2 "recipients" (i.e. me) linked to my Wise account, which are both, on the face of it, completely identical in every respect right down to the number of my destination BKKB account. The token transfer to which I referred previously in this thread and had been routed via Kasikorn and paid out immediately with a domestic coding had been made to Recipient #1. However a subsequent token transfer which was routed via BKKB and paid out the next day with an FTT  coding was made to Recipient #2.

 

To the best of my recollection Recipient #2 only dates back to this time last year when I asked Wise to tag my account with them - although it was certainly not explained to me at that time that this new recipient was the one to which I should be making future transfers in order to guarantee tagging (as far as was possible) and resultant FTT codings.

 

In response to further representations which I have made to Wise on this matter, I have been informed that "they had re-added/refreshed the tag in my recipient profile", whatever that might mean. And both further token transfers which I have subsequently initiated, one to Recipient #1 and the other to Recipient #2, appear to be being routed via BKKB and, hence, should eventually be coded FTT. Even so, I have asked Wise to confirm whether or not both recipients linked to my account with them have now been suitably tagged.

 

  • Like 1
Link to comment
Share on other sites

44 minutes ago, OJAS said:

In response to further representations which I have made to Wise on this matter, I have been informed that "they had re-added/refreshed the tag in my recipient profile", whatever that might mean. And both further token transfers which I have subsequently initiated, one to Recipient #1 and the other to Recipient #2, appear to be being routed via BKKB and, hence, should eventually be coded FTT. Even so, I have asked Wise to confirm whether or not both recipients linked to my account with them have now been suitably tagged.

 

Based on Wise's response which I bolded above and since you said you only have two recipients I would guess they tagged both of your recipients.   I kinda doubt they can tag a whole recipient profile with one click to use Bangkok Bank as the partner bank because your recipient profile might include recipients in countries other than Thailand so individual recipients would need to be tagged.   

 

So, based on my correspondence with Wise over two years ago and just a week ago that correspondence implied to me only the recipient(s) I asked to be tagged got tagged....and ensuing transfers results proved that only my tagged THB recipients were always routed thru Bangkok Bank and got FTT coding. 

 

But as I mentioned in another post it may not be a smart move to tag all your recipients to use Bangkok Bank unless you must always have FTT coding since routing thru Bangkok Bank will delay the transfer to the afternoon or next business day.    If you didn't care about international transfer coding but instead wanted a near instant transfer then not having a recipient tagged to be routed thru the Bangkok Bank partner bank might be a smarter move.

 

Yes, yes, what's the big difference between getting the money hours later or next day compared to an instant transfer?  Only the satisfaction of "instantly" knowing the transfer was successful as the money is "now" in your Thai bank acct...it's a nice feeling.  No need to have the thoughts running around in your head hoping the transfer does indeed arrive later in the day or next day.   Instant satisfaction/relief versus Delayed satisfaction/relief.

 

 

  • Like 2
Link to comment
Share on other sites

Emailed WISE re: "tagging" my BKB account for transfers.....matter settled within 24 hours with the caveat that others received - "may not always work" or "BKB may have system issues", etc.  

 

Happy with the response, let's hope the result matches.

 

Thanks again for the information provided on this thread. ????

  • Like 2
Link to comment
Share on other sites

19 hours ago, Pib said:

Based on Wise's response which I bolded above and since you said you only have two recipients I would guess they tagged both of your recipients.   I kinda doubt they can tag a whole recipient profile with one click to use Bangkok Bank as the partner bank because your recipient profile might include recipients in countries other than Thailand so individual recipients would need to be tagged.   

Wise have confirmed to me in a follow-up exchange that this is, indeed, the case.

 

  • Like 1
Link to comment
Share on other sites

4 hours ago, TheAppletons said:

Emailed WISE re: "tagging" my BKB account for transfers.....matter settled within 24 hours with the caveat that others received - "may not always work" or "BKB may have system issues", etc.  

 

Happy with the response, let's hope the result matches.

 

Thanks again for the information provided on this thread. ????

Interesting how Wise sometimes responds within one or two days...but in other cases it's significantly longer.  Like a few weeks ago when I asked for a recipient (a kinda new BKB acct) to be tagged it took then around 5 days to respond saying it has been tagged and that was after I pinged them 2 days earlier asking for a status update.  But at least in their response they said sorry for the late reply.

Link to comment
Share on other sites

2 hours ago, Pib said:

Interesting how Wise sometimes responds within one or two days...but in other cases it's significantly longer.  Like a few weeks ago when I asked for a recipient (a kinda new BKB acct) to be tagged it took then around 5 days to respond saying it has been tagged and that was after I pinged them 2 days earlier asking for a status update.  But at least in their response they said sorry for the late reply.

I've been quite fortunate in that respect in that I've been receiving replies in connection with the current issues under discussion in this thread the day after. Moreover, the person in their Customer Services Unit with whom I've been dealing happens to be the same as the one I dealt with when I originally set up tagging this time last year.

 

Today's Wise Problem Of The Day relates to some trigger which I have somehow managed to activate and results in my receiving emails informing me that I'm sending money to myself! What I need to do after selecting Notification Settings as advised is as clear as mud.

 

Link to comment
Share on other sites

On 10/25/2021 at 7:02 PM, scubascuba3 said:

Sounds like your account is tagged? as long term stay reason doesn't work anymore

I have emails to say that there is not such thing as 'tagging' now. Wise will send THB to whichever of their partner banks, Kasikorn, Bangkok or Dee Money, that THEY want to,

  • Like 1
  • Confused 1
Link to comment
Share on other sites

26 minutes ago, scubascuba3 said:

That's not the case based on numerous reports, it's just a Wise employee doesn't understand what's going on

Hello,

Thanks for getting in touch!

We use our partner banks for transferring the money locally to the bank accounts in Thailand.

I understand your concern regarding the international transfers. Don't worry. You can get the FET form.

A FET form is a document that confirms money sent into Thailand came from abroad. When a bank receives a transfer of 50,000 USD or more, they have to send a FET form to the Bank of Thailand to report the money.

You’ll need a FET form if you’re a foreigner buying property in Thailand, or if you’re applying for a Thai visa.

We aren't authorised by the Bank of Thailand to issue FET forms. It’s because of how we work: when you send money with us, we use our Thai banking partners to send out your money locally. It doesn’t cross any borders, so it doesn’t show up as a foreign transaction.

How can I get a FET form?

I hope that helps. Let me know if you have any questions.

Thanks again,

From Akhil,
At Wise

  • Like 1
Link to comment
Share on other sites

28 minutes ago, atpeace said:

Hello,

Thanks for getting in touch!

We use our partner banks for transferring the money locally to the bank accounts in Thailand.

I understand your concern regarding the international transfers. Don't worry. You can get the FET form.

A FET form is a document that confirms money sent into Thailand came from abroad. When a bank receives a transfer of 50,000 USD or more, they have to send a FET form to the Bank of Thailand to report the money.

You’ll need a FET form if you’re a foreigner buying property in Thailand, or if you’re applying for a Thai visa.

We aren't authorised by the Bank of Thailand to issue FET forms. It’s because of how we work: when you send money with us, we use our Thai banking partners to send out your money locally. It doesn’t cross any borders, so it doesn’t show up as a foreign transaction.

How can I get a FET form?

I hope that helps. Let me know if you have any questions.

Thanks again,

From Akhil,
At Wise

go back to them

Link to comment
Share on other sites

1 hour ago, scubascuba3 said:

That's not the case based on numerous reports, it's just a Wise employee doesn't understand what's going on

Several of them in my experience over the past three weeks.

And quite a few members here complaining about funds going via Kasikorn instead of directly to Bangkok Bank as FTT. That's what this thread is all about!

Link to comment
Share on other sites

48 minutes ago, atpeace said:

Hello,

Thanks for getting in touch!

We use our partner banks for transferring the money locally to the bank accounts in Thailand.

I understand your concern regarding the international transfers. Don't worry. You can get the FET form.

A FET form is a document that confirms money sent into Thailand came from abroad. When a bank receives a transfer of 50,000 USD or more, they have to send a FET form to the Bank of Thailand to report the money.

You’ll need a FET form if you’re a foreigner buying property in Thailand, or if you’re applying for a Thai visa.

We aren't authorised by the Bank of Thailand to issue FET forms. It’s because of how we work: when you send money with us, we use our Thai banking partners to send out your money locally. It doesn’t cross any borders, so it doesn’t show up as a foreign transaction.

How can I get a FET form?

I hope that helps. Let me know if you have any questions.

Thanks again,

From Akhil,
At Wise

I have had several similar ones recently. 

Edited by KannikaP
Link to comment
Share on other sites

44 minutes ago, KannikaP said:

Several of them in my experience over the past three weeks.

And quite a few members here complaining about funds going via Kasikorn instead of directly to Bangkok Bank as FTT. That's what this thread is all about!

That's old news now, people in the know have got their BB account tagged

  • Like 1
  • Confused 1
Link to comment
Share on other sites

2 hours ago, scubascuba3 said:

That's old news now, people in the know have got their BB account tagged

How do 'people in the know' get their Wise account 'tagged' when I, a Wise user for 3 years, cannot.

I have emailed them and been told that they cannot guarantee my transfers will go directly to Bkk Bank as opposed to going via Kasikorn.

Edited by KannikaP
  • Thanks 1
Link to comment
Share on other sites

9 hours ago, KannikaP said:

How do 'people in the know' get their Wise account 'tagged' when I, a Wise user for 3 years, cannot.

I have emailed them and been told that they cannot guarantee my transfers will go directly to Bkk Bank as opposed to going via Kasikorn.

Wise have consistently said they cannot guarantee transfers due to technical issues with BB partner bank, expect it to be very rare in fact the last 2 years it hasn't happened

Link to comment
Share on other sites

12 hours ago, treetops said:

 

If the person you communicate with does not know the procedure for tagging a receiving account ask them to pass the request on to someone who does.

##- Please type your reply above this line -##

Maria Ahra B. (TransferWise)

Oct 13, 2021, 4:07 GMT+2

Thank you for your quick response. 

I already coordinated your question to our Payments team and they mentioned that transfers sent through Bangkok Bank and Kbank will arrive as local transfers.  

We’re sorry you didn’t get the service you’d expect from Wise. To make a complaint, please send us an email and include:


 

·        your Wise membership number (beginning with P)

·        the payment order number(s), if your complaint is about a specific transfer

·        what your complaint is about

·        what you’d like us to do to fix it


Learn more about how to make a complaint.

I hope that helps. Let me know if you have any questions.

Regards,AhraWise Customer Support

 

William George Danson

Oct 13, 2021, 3:49 GMT+2

I am sorry Maria, but you just keep saying the same things over & over again.

Please forward my emails and enquiries to someone who can really help. Thanks.

William G Danson

 

Maria Ahra B. (TransferWise)

Oct 13, 2021, 3:33 GMT+2


Thank you for contacting Wise. 

As per our Payments team, transfers that are sent out via KBank or Bangkok Bank will arrive as local transfers. If you need a FET form, you can ask the partner bank that we paid your money out from.

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


If you choose "Buying Property Abroad" or "Funds For Long Term Stay in Thailand" as transfer purpose, it will automatically be routed to Kbank or Bangkok Bank. Both transfers will arrive as local transfers. 

Learn more about THB transfers.

I hope that answers your questions. Let me know if you have any other questions.

Regards,AhraWise Customer Support

 

 

Oct 13, 2021, 2:48 GMT+2

Thanks. Would you please ensure that my Wise account is tagged to only transfer to Bangkok Bank, no other, and confirm to me that this is the case, thanks

 

 

 

Oct 12, 2021, 8:48 GMT+2

I have sent Bht 50,000 (not USD) from Wise to my Bangkok Bank every month for the past two years, for long term stay in Thailand, and every time it has gone directly into my account as an International Transfer, arriving at 2pm the same day, or 2pm the following day if done in the afternoon. Has something changed in the past week or so, as many expats are saying that even though they click ‘for long term stay’, it is coming as an instant transfer into Kasikorn Bank.

If you cannot answer this, please ask someone further up the line to reply to me. Thanks.

 

 

Maria Ahra B. (TransferWise)

Oct 12, 2021, 8:11 GMT+2

Hello 
Thank you for your quick response.

Yes, choosing your transfer doesn't automatically mean that  your payment  will be  routed to Bangkok Bank. 

A FET form is a document that confirms money sent into Thailand came from abroad. When a bank receives a transfer of 50,000 USD or more, they have to send a FET form to the Bank of Thailand to report the money.

You’ll need a FET form if you’re a foreigner buying property in Thailand, or if you’re applying for a Thai visa.

Transfers sent by Bangkok Bank

If the transfer was sent out by Bangkok Bank and the recipient has an account with them, the recipient needs to go to their branch of Bangkok Bank with:

·        their Bangkok Bank Savings Passbook, or a statement showing the transaction

·        their passport

·        the agreement of the purchase of a condominium, if buying property with the money

If the transfer was sent out by Bangkok Bank and the recipient doesn’t have an account with them, they’ll need to reach out to Bangkok Bank’s head office at 333 Silom Road Bangrak with:

·        credit receipt of the specific bank transaction

·        their passport

·        the agreement of the purchase of a condominium, if buying property with the money

Once Bangkok Bank has checked these documents, they’ll issue a confirmation letter to the recipient. They can then use this to prove that the money came from abroad.

Bangkok Bank charges a 100 THB fee for the FET letter.

Transfers sent by Kasikorn Bank

If the transfer was sent out by Kasikorn Bank, the recipient needs to go to their nearest Kasikorn Bank International Trade centre. They’ll need to bring:

·        their Bank Savings Passbook or statement showing the transaction

·        their passport

·        their visa (if applicable)



Kasikorn Bank may charge an administration fee.

Learn more about THB transfers

I hope that helps. Let me know if you have any other  questions.

Regards,

AhraWise Customer Support

 

 

 

 

Oct 12, 2021, 7:05 GMT+2

It is not an FET form I need, it is evidence that the money was an International Transfer through Bangkok Bank as shown on the attached pdfs. The same as it has been for the past two years. Does the ‘long term stay’ option not automatically ensure that the partner bank is Bangkok Bank as it has in the past?

 

 

Maria Ahra B. (TransferWise)

Oct 12, 2021, 6:54 GMT+2

H
Thank you for your quick response. 
There's no issue on our end. Wise is not authorized by the Bank of Thailand to issue FET forms. It’s because of how we work: when you send money with us, we use our Thai banking partners to send out your money locally. Unfortunately, we cannot guarantee that  your money will be sent out through your preferred partner bank. As a resolution to this, you can always ask our partner bank for the FET form directly. 
Learn more about THB transfers.

To see exactly how much your transfer could cost using Swift, visit our pricing page

I  hope that helps. Let me know if you have any other questions.

Regards,AhraWise Customer Support

 

 

Oct 12, 2021, 6:24 GMT+2

By telling me to make a SWIFT transfer ‘this time’, are inferring that there is a temporary problem at Wise which could be corrected soon?

Can I send a SWIFT transfer of GBP to Thailand with Wise? What is the charge please?

 

 

 we cannot guarantee that the money will be sent out to your preferred partner bank. 

If you know you definitely need a FET, it’s best that you send a SWIFT transfer with your bank this time. SWIFT is a more expensive method, because it’s not a local transfer. But it does mean you’ll be able to prove that the money came from abroad.
I hope that helps. Let me know if you have any questions.

Regards,AhraWise Customer Support

 

 

Oct 12, 2021, 3:52 GMT+2

I am a little confused with your answer because I specifically asked about Wise transfers to Bangkok Bank, my preferred partner bank. I want the money to go directly there, to my account as a Foreign International Transfer as it has done for a long time with no problems.

If Bangkok Bank is facing technical or liquidity issues, I do not want the transfer to take place, and I do not care if it takes a few days extra to get to Bkk Bank. Can you ensure that this will happen please.

 

 

Maria Ahra B. (TransferWise)

Oct 12, 2021, 3:27 GMT+2

Hello 
Thank you for your quick response.
Yes, it can be routed to Bangkok Bank. However, as mentioned in my previous email, we cannot guarantee that the money will be sent out to your preferred partner bank. There are unforeseen scenario where a certain partner might be facing a technical/liquidity issue and the system will route the payment via another available partner to ensure same day delivery.

If the payment was routed to a different partner bank, you can always ask the partner bank that we paid your money out from for the FET form. You can check which bank this is on your transfer receipt.

If you know you definitely need a FET, it’s best that you send a SWIFT transfer with your bank this time. SWIFT is a more expensive method, because it’s not a local transfer. But it does mean you’ll be able to prove that the money came from abroad.

I hope that helps. Let me know if you have any questions.

Regards,Ahra

Wise Customer Support

 

 

Oct 11, 2021, 12:03 GMT+2

So are you telling me that if I tick ‘for long term stay in Thailand (which I always do), the transfer will go directly to Bangkok Bank as it always has done.

 

 

Maria Ahra B. (TransferWise)

Oct 11, 2021, 10:07 GMT+2

Hello 
Thank you for your quick response. 

Unfortunately, we cannot guarantee that the money will be sent out to your preferred partner bank. There are unforeseen scenario where a certain partner might be facing a technical/liquidity issue and the system will route the payment via another available partner to ensure same day delivery.

I would suggest to make sure to use the proper transfer purpose "Buying Property Abroad" or "Funds For Long Term Stay in Thailand" so it can be routed to your preferred partner bank. 

Learn more about THB transfers.

 hope that helps. Let me know if you have any other questions.

Regards,Ahra

Wise Customer Support

 

 

Oct 11, 2021, 6:37 GMT+2

Thank you. I do understand how Wise works as I have been using them for several years, and every transfer has come directly to my Bangkok Bank showing as an International transfer because I clicked the reason as ‘long term stay in Thailand’

However several other Wise customers have, on Asean Now forum, said that their transfers were going via Kasikorn Bank and consequently showing as local transfers in their Bangkok Bank. I know you must then go to Kasikorn and get a paper from them to show that the money came Wise-Kasikorn-Bkk Bank, but that is difficult if there is not a main Kasikorn Bank in your area.

To test the system I sent THB 1000 from my THB balance last week and that also went via Kasikorn.

Can you assure me that my future ‘big’ transfers, usually on 1st of the month, will still go directly to my Bangkok Bank as previously. Thanks.

 

 

Maria Ahra B. (TransferWise)

Oct 11, 2021, 6:27 GMT+2

Hello ,
Thank you for your quick response. 

We used different partner banks to process your transfer but our transfer method is still the same. You can also choose "Buying Property Abroad" or "Funds For Long Term Stay in Thailand" as transfer purpose so that it can be routed through Bangkok Bank. 
If the payment was routed to a different partner bank, you can always ask the partner bank that we paid your money out from for the FET form. You can check which bank this is on your transfer receipt.

If you know you definitely need a FET, it’s best that you send a SWIFT transfer with your bank this time. SWIFT is a more expensive method, because it’s not a local transfer. But it does mean you’ll be able to prove that the money came from abroad.

 I hope that helps. Let me know if you have any other questions.

Regards,Ahra

Wise Customer Support

 

 

Oct 11, 2021, 5:03 GMT+2

Thanks Maria. For over two years I have transferred from my Borderless THB account to my Bangkok Bank, and every time it arrives showing as an International Transfer, using Bangkok Bank as Wises’ partner bank. This seems to have stopped quite recently with the transfer going via Kasikorn.

Has there been a change in Wises’ transfer methods please?

Using Wise is no good to me, and many other expats out here, if the previous process and paperwork is changed.

 

 


Thank you for contacting Wise. 

We aren't authorized by the Bank of Thailand to issue FET forms. It’s because of how we work: when you send money with us, we use our Thai banking partners to send out your money locally. It doesn’t cross any borders, so it doesn’t show up as a foreign transaction.

If you need a FET form, here's how: 
The recipient needs 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


Learn more about THB transfers.

I hope that helps. Let me know if you have any other questions.

Regards,Ahra

Wise Customer Support

 

Oct 11, 2021, 3:28 GMT+2

No reply to this yet, and many more expats here in Thailand are saying that their monthly transfers, needing to be shown as International, are now arriving instantly as local transfers, which will not be acceptable to Immigration Officers for Visa Extensions.

In my particular case, every transfer in the past two years has shown as FTT, Foreign Telegraphic Transfer, in my Bangkok Bank statement, but last week it did not, and was transferred via Kasikorn Bank. This is no good for me. Please rectify this problem if possible as soon as possible. Thanks.

 

 

 

Oct 9, 2021, 7:07 GMT+2

I transfer THB 50,000 every month to my Bangkok Bank in order to comply with Immigration, with the reason as long term stay in Thailand. It always arrives the same or next day at 2pm as an International Foreign Transfer. I have recently read that this is not happening now, so I just did a small transfer and it says that the transfer went via Kasikorn Bank and arrives at my bank as a local transfer, which is not acceptable to Immigration. Is this a mistake or will this be the normal from now on, in which case I, and many others here, will have to change the way they transfer money to Thailand

Link to comment
Share on other sites

 

13 hours ago, KannikaP said:

How do 'people in the know' get their Wise account 'tagged' when I, a Wise user for 3 years, cannot.

I have emailed them and been told that they cannot guarantee my transfers will go directly to Bkk Bank as opposed to going via Kasikorn.

Please start anew.  Send only this sentence to WISE:

 

On 10/18/2021 at 2:40 PM, pablo el sueco said:

 "tag my account to only use Bangkok Bank (BBL) as the partner bank"

 

 

Link to comment
Share on other sites

17 hours ago, atpeace said:

When a bank receives a transfer of 50,000 USD or more, they have to send a FET form to the Bank of Thailand to report the money.

So presumably this means that we would, in practice, only be able to obtain FET forms if our monthly 65,000 THB transfers for retirement extensions were each based on an exchange rate of 1 USD = 1.30 THB max! And in the case of monthly 40,000 THB transfers for marriage extensions the rate would need to be 1 USD = 0.80 THB max!!

 

Clearly a case of Wise talking through their corporate hat, I think!!!

 

Link to comment
Share on other sites

Create an account or sign in to comment

You need to be a member in order to leave a comment

Create an account

Sign up for a new account in our community. It's easy!

Register a new account

Sign in

Already have an account? Sign in here.

Sign In Now
  • Recently Browsing   0 members

    • No registered users viewing this page.





×
×
  • Create New...