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

[jacko45k]

12 hours ago, Scott Tracy said:

Why keep money here, not working for you, when the money can be kept elsewhere, working, and have a good rate of return.

It's not just the 400,000 or 800,000 baht, it's money in addition to this too, for at least 5 months.  If you use it, you still have to top it up.

There can be many reasons.... and here we see one of them. To be honest, I keep well over 800k here so this glitch is not a problem. I might even feel happy that any future transfers arrive near instantly, rather than the following day. 

I haven't seen much opportunity to get a good rate of return, not without tying money up long term, and what would I do with it, gold handles on my coffin? I am too old to be chasing %....and risk adverse.

The amount over and above I have to keep here to live off need not be so much, but I regard it all as a form of self cover for medical insurance, there for an emergency. No exclusions attached. 

We all have differing circumstances, and those living off income have now been subjected to a snag, hopefully temporary.  

[Pib]

17 hours ago, lexilis said:

Since there are a lot of Wise users here, I am going to ask this OT question. Without doing a bank to bank transfer (ABA and all of that) can a person (who does not have a Wise account) go online and deposit funds into my Wise USD account using a credit/debit card. Obviously they would have to know my name and Wise account number.

For USD you can only receive deposits via ACH transfer or Wire transfer.   See this Wise Help link.

https://wise.com/help/articles/2784317/what-types-of-payments-can-i-receive-into-my-account?origin=search-what+kind+of+payments+can+I+receive

 

So, the person sending you money would have to do an ACH or wire transfer which comes from his bank acct.  If the person wanted to fund via his credit card then he would need to first do a cash advance from his card (which comes with healthy fees typically around 3% or more) into his bank acct and then initiate an ACH/wire transfer to your Wise acct. 

[norbra]

10 hours ago, Twod0gs said:

I recently decided to change from the lump sum to monthly deposits for my next extension. 

I transfer money from Australia via Wise to my Kasikorn account.

Below is a copy of the entry in last months statement showing the deposit as "Trade Finance Deposit"  - I have no idea what that means.

 

Date              Time            Descriptions                Withdrawal / Deposit                     Outstanding Balance              Channel                       Details

25-09-21        14:12    Trade Finance Deposit                 72,338.91                                          x,xxx,715.09                   Trade Finance              Ref Code GPS00008

For more information call Kasicorn call centre 2 for English 1 for account 9 for request credit advice.

[mvdf]

On 10/9/2021 at 11:36 AM, Henryford said:

How can that happen instantaneously?

They have automated interlinked systems which processes multiple transfers successively. If GBP to GBP is greenlighted, a separate system greenlights THB to THB.

[Artisi]

If in doubt or concerned that the bank/bank transfer won't be clearly identified, take a screen shot of the appropriate Wise page as proof. I've always found immigration happy so long as the paper trail is correctly documented. 

[lexilis]

1 hour ago, Pib said:

For USD you can only receive deposits via ACH transfer or Wire transfer.   See this Wise Help link.

https://wise.com/help/articles/2784317/what-types-of-payments-can-i-receive-into-my-account?origin=search-what+kind+of+payments+can+I+receive

 

So, the person sending you money would have to do an ACH or wire transfer which comes from his bank acct.  If the person wanted to fund via his credit card then he would need to first do a cash advance from his card (which comes with healthy fees typically around 3% or more) into his bank acct and then initiate an ACH/wire transfer to your Wise acct. 

Pib: Thank you for that. Very helpful.

[norbra]

4 hours ago, scubascuba3 said:

It means they aren't shown as International

It means that there is fx attached to the transaction ID. That is the reason for Kasikorn trade to process the payment

[bbko]

When using Wise, does paying via ACH still show as an international transfer?  I did Wise for the 1st time last month, chose the ACH payment option and my SCB bank said it was an domestic transfer.  

 

 

[norbra]

19 hours ago, racyrick said:

Do you have a copy of the credit advice that Kasikorn will give to show Bangkok Bank? 

It would be a big help to just show that letter to the local Kasikorn bank so they understand what is needed.

Thanks

 

[lopburi3]

14 minutes ago, bbko said:

When using Wise, does paying via ACH still show as an international transfer?  I did Wise for the 1st time last month, chose the ACH payment option and my SCB bank said it was an domestic transfer.  

 

 

Never has unless payment made by same bank - you must select the last reason for transfer 'long stay in Thailand' during transfer process - which for last 2 years has worked until this week - seems something happening currently to prevent.  You can download Wise transfer document which may be accepted or you can obtain credit advise printout (as above) from bank making payment if proof required.  Normally just selecting the last reason for transfer will result to payment by Bangkok Bank if that is your account and FTT (foreign transfer) notation.  

Edited October 10, 2021 by lopburi3

[david555]

2 hours ago, lopburi3 said:

1.  But under current rules you can not touch that money for any reason without risking loss of your extension of stay (yes 400k becomes available for a period of time I know).  I know - it was designed for exactly that - but under new rules can not be used without potential loss of stay.  

2.  If married wife can not have use of money until court action completed after death as account is in your name only and any withdrawal after death would not be legal until court action.  

1 the " period of time" it comes available for the non-married to Thai is 7 months, then top up to 800K again (2 months prior to new ext. application) and your ret.ext. is kept alive . ????

 

2 Even the married to Thai ret.ext. can use the needed only 400 k instantly in full after stamp granted  ????

[lopburi3]

2 minutes ago, david555 said:

2 Even the married to Thai ret.ext. can use the needed only 400 k instantly in full after stamp granted  ????

Bank accounts in single name are locked on death.  No person can legally use after death until probate process completed and that can take months.  Although it may not happen - it can - so should not be counted on being available for few months.

[david555]

7 minutes ago, lopburi3 said:

Bank accounts in single name are locked on death.  No person can legally use after death until probate process completed and that can take months.  Although it may not happen - it can - so should not be counted on being available for few months.

you misunderstood my point about the married one .....,

 

i put under your attention  the money could be wit drawn instantly after receiving the ext stamp ....whatever wished to do with that money , can even give the wife or put on other any account.....nothing about dying and go to court or whatever .... the money comes free after stamp received .... got it now ?????

 

Different for the ret. ext non married ones , they have to keep 2 month before and 3 after  in full 800K on bank , and then free for 400K for 7 months

Edited October 10, 2021 by david555

[lopburi3]

1 minute ago, david555 said:

you misunderstood my point about the married one .....,

 

i put under your attention  the money could be wit drawn instantly after receiving the ext stamp ....whatever wished to do with that money , can even give the wife or put on other any account.....nothing about dying and go to court or whatever .... the money comes free after stamp received .... got it now ?????

 

Different for the ret. ext non married ones , they have to keep 2 month before and 3 after  in full 800K on bank , and then free for 400K for 7 months

The condition of your extension for retirement requires the 800k money remain in account 3 months after 2 months before regardless of being married to a Thai or not.  It is the same extension regardless of marriage and requires the same financials AFAIK.

[david555]

1 minute ago, lopburi3 said:

The condition of your extension for retirement requires the 800k money remain in account 3 months after 2 months before regardless of being married to a Thai or not.  It is the same extension regardless of marriage and requires the same financials AFAIK.

???? totally wrong .....UbonJoe HELP please !! ????

[bbko]

I'm finding out SCB doesn't even have a FTT code in their system, and it's hit or miss to get the correct coding to show immigration ????, time for me to switch banks.

 

 

[Kwasaki]

4 minutes ago, bbko said:

I'm finding out SCB doesn't even have a FTT code in their system, and it's hit or miss to get the correct coding to show immigration ????, time for me to switch banks.

 

Will not SCB type out a letter for you to confirm the payments come from abroad.? 

[bbko]

1 minute ago, Kwasaki said:

Will not SCB type out a letter for you to confirm the payments come from abroad.? 

I will visit an open branch today and ask, I'll remain a customer if they can assure me it won't be a problem with Pattaya IO, if not I'll switch to Kasikorn or Bangkok Bank.

[Kwasaki]

9 minutes ago, bbko said:

I will visit an open branch today and ask, I'll remain a customer if they can assure me it won't be a problem with Pattaya IO, if not I'll switch to Kasikorn or Bangkok Bank.

I would be surprised if SCB would not help, Bangkok bank does letters for me 100 bht to confirm an amount in the account. 

[Moonlover]

33 minutes ago, david555 said:

23 minutes ago, lopburi3 said:

The condition of your extension for retirement requires the 800k money remain in account 3 months after 2 months before regardless of being married to a Thai or not.  It is the same extension regardless of marriage and requires the same financials AFAIK.

 

33 minutes ago, david555 said:

???? totally wrong .....UbonJoe HELP please !! ????

No point in pleading for help on that one. @lopburi3 is correct. A retirement extension is a retirement extension, whether married or not. Been there, done it! (and will not do it again)

[scubascuba3]

36 minutes ago, bbko said:

I'm finding out SCB doesn't even have a FTT code in their system, and it's hit or miss to get the correct coding to show immigration ????, time for me to switch banks.

 

 

SCB will have different coding, no big deal. Won't work for Wise though

[racyrick]

1 hour ago, norbra said:

 

Thank you so much!! I see it says senders bank is Transferwise but there is no mention of being an international transfer. I guess that is where you match your TW receipt with this to show the funds were transferred from an overseas bank.

Thanks again!

[racyrick]

14 hours ago, kokopelli said:

Made a transfer from USA to Bangkok Bank via Wise two days ago and it was done in seconds and did not show up as an International Transfer. Normal time is the next day at 2 pm or, if weekend, on the following Monday.

Did you call WISE to ask why?

[norbra]

12 minutes ago, racyrick said:

Thank you so much!! I see it says senders bank is Transferwise but there is no mention of being an international transfer. I guess that is where you match your TW receipt with this to show the funds were transferred from an overseas bank.

Thanks again!

If you look closer you will see

 Paid by: TT... ( Telegraphic transfer)

[billd766]

16 hours ago, BKK57 said:

Bangkok Bank does offer a service to email credit advice but you have to ask for it, they don't do for everyone automatically, so ask nicely ????  Ask for "E-mail Credit Advice Service", fill out the form.  I had to go to Bangkok Bank on Silom Road, up the escalator to 2nd floor on the right.

 

Once done from that point on within a few hours of your international transfers hitting the account you will receive the credit advice in an email.

 

No need to go the bank every 3 months to update bank book and get the latest credit advices.

 

For CW Immigration I still go to the bank with 12 months worth of Credit Advices just before renewing my visa to get a "Confirmation Letter" showing international transfer totals for the previous 12 months. Since I have the printed  Credit Advices it only takes 15 minutes or so to get the letter.

 

I get an SMS from BBK every Monday morning giving me the balance at that time, and another SMS each time Wise transfers into the account, also every ime I transfer from the account.

[lopburi3]

11 minutes ago, billd766 said:

I get an SMS from BBK every Monday morning giving me the balance at that time, and another SMS each time Wise transfers into the account, also every ime I transfer from the account.

That sounds like the normal pay for service account activity SMS system.  I get the free foreign transfer SMS if coded FTT but no SMS if domestic transfer.  Believe poster is talking about another service providing credit advice emails. 

[billd766]

7 minutes ago, lopburi3 said:

That sounds like the normal pay for service account activity SMS system.  I get the free foreign transfer SMS if coded FTT but no SMS if domestic transfer.  Believe poster is talking about another service providing credit advice emails. 

OK, thank you.

[Pib]

1 hour ago, david555 said:

???? totally wrong .....UbonJoe HELP please !! ????

Ditto to what lopburi 3 and Moonlover stated earlier.    It does not matter whether you are single or married to a Thai in regards to the income/deposit requirements for a retirement extension of stay. 

[jacko45k]

8 hours ago, lopburi3 said:

1.  But under current rules you can not touch that money for any reason without risking loss of your extension of stay (yes 400k becomes available for a period of time I know).  I know - it was designed for exactly that - but under new rules can not be used without potential loss of stay.  

2.  If married wife can not have use of money until court action completed after death as account is in your name only and any withdrawal after death would not be legal until court action.  

Thank you for this input..... with regard to Item 1), my thought was, if I had to use it, my next extension would be via an agent, or a new Visa.

Item 2) I would need to make monies available elsewhere , which would give time, I hope, for the court action to occur. Also, if some medical event had occurred, it could be spent already, even death is not free!

[billd766]

7 hours ago, lopburi3 said:

Bank accounts in single name are locked on death.  No person can legally use after death until probate process completed and that can take months.  Although it may not happen - it can - so should not be counted on being available for few months.

Would it be possible and legal, in my last few weeks of life for me and/or my wife to transfer money locked away in a single account (using online banking) to transfer that money into the joint account?

 

Not that I am anywhere near to popping my clogs yet but for future thoughts, just in case.