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

[lopburi3]

24 minutes ago, billd766 said:

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.

Until death it should be fine - just not something most of us can count on being able to do.

[billd766]

28 minutes ago, lopburi3 said:

Until death it should be fine - just not something most of us can count on being able to do.

That is pretty much what I figured on. By the time it gets to that stage I hope to shift Wise from the BBK to KBank where we have our joint account but KBank are a PITA when it comes time for my annual extension. The 12 months bank statements are OK, done in about 15 minutes waiting time but it is the FTT that is the problem.

[norbra]

40 minutes ago, billd766 said:

That is pretty much what I figured on. By the time it gets to that stage I hope to shift Wise from the BBK to KBank where we have our joint account but KBank are a PITA when it comes time for my annual extension. The 12 months bank statements are OK, done in about 15 minutes waiting time but it is the FTT that is the problem.

KBank have very recently changed the format of credit advice/receipt. Immigration accepted the  old format as confirmation of an international transsction. The new format does not spell out that it is an international transfer,on my latest CA (provided by email from trade and international div) it indicates the transaction was sourced from AU which I take to mean Australia,The transaction ID is prefixed IR,which I assume is for International remittance it also indictes a reason for transfer which is not required for local transactions.

I will post a pic shortly

Edited October 10, 2021 by norbra

[Pib]

I did a small transfer this morning/11 Oct at around 7:30am using Wise.  Funded transfer from the balance in my Wise multicurrency acct (a.k.a., borderless acct).  I have a US address on file with Wise.  Sent to one of my Bangkok Bank accts and I selected the reason for transfer of Long Stay Thailand.    The transfer posted to my Bangkok Bank acct in 4 seconds (first time ever for me occurring that fast)...and the Wise PDF receipt shows K-bank was used as the partner bank.  But I did "not" get International Transfer/FTT coding; I got "Transfer from Acct at Other Bank" (i.e., just another domestic transfer)

 

This is the first time ever for me after doing several dozen Wise transfers over the several years that the funds posted to my Bangkok Bank acct almost immediately regardless of the funding method used...whether I funded from my Wise borderless acct or an ACH transfer.   In the past if I initiated a transfer before 9:30am/Mon-Fri Thailand time the funds would arrive around 2pm same day.  Or if sending after 9:30am or on Sat-Sun the funds would arrive next business day around 2pm whether I was sending to my Bangkok Bank or Krungsri Bank accts.   

 

In the past when sending to my Bangkok Bank acct I would  always get International Transfer/FTT coding......but when sending to my Krungsri Bank acct I would never get international transfer coding/just plain ol' domestic transfer coding. 

 

When checking my Wise PDF Receipt for today's transfer K-bank was the Wise partner bank used instead of Bangkok Bank.....Bangkok Bank as the partner bank had always been used for my transfers in the past.   In the past before Wise developed the Long Stay Thailand reason for transfer I had got with Wise to have my transfers tagged to always use Bangkok Bank as the partner bank to ensure I got International Transfer/FTT coding when sending to my Bangkok Bank acct.  But based on today's transfer they are apparently now ignoring that previous tagging since they used K-bank for the partner bank and although I selected the Long Stay Thailand reason for transfer.

 

Yeap...my first ever almost instant Wise transfer (only took 4 seconds) but I did "not" get international transfer coding like I use to get when sending to my Bangkok Bank acct; instead, I got domestic transfer coding.   Also, for you U.S. folks this is more proof almost instant  Wise transfers from the U.S. are possible instead of the funds arriving around 2pm same business day or next business day.  I was always jealous of other folks who were routinely getting 4 second transfers...like UK folks.

 

To me this thread is screaming things have changed (maybe temporary, maybe permanent) in how Wise manages transfers to Thailand....even when sending from the U.S.  Seems using the Long Stay Thailand reason for transfer (and even if you had your acct tagged before) will no longer ensure Int'l Transfer/FTT coding when sending to your Bangkok Bank acct.  But that's' not an issue for me since I don't use the monthly income transfer method for my extension of stays; instead, I use the large deposit method.   But it does mean if I want proof of international coding like to repatriate funds in the funds I will need to get a Credit Advice....and have to go to the Wise partner bank used to get it....for today's transfer I would need to go to K-bank where I don't have an acct.

 

[norbra]

31 minutes ago, Pib said:

I did a small transfer this morning/11 Oct at around 7:30am using Wise.  Funded transfer from the balance in my Wise multicurrency acct (a.k.a., borderless acct).  I have a US address on file with Wise.  Sent to one of my Bangkok Bank accts and I selected the reason for transfer of Long Stay Thailand.    The transfer posted to my Bangkok Bank acct in 4 seconds (first time ever for me occurring that fast)...and the Wise PDF receipt shows K-bank was used as the partner bank.  But I did "not" get International Transfer/FTT coding; I got "Transfer from Acct at Other Bank" (i.e., just another domestic transfer)

 

This is the first time ever for me after doing several dozen Wise transfers over the several years that the funds posted to my Bangkok Bank acct almost immediately regardless of the funding method used...whether I funded from my Wise borderless acct or an ACH transfer.   In the past if I initiated a transfer before 9:30am/Mon-Fri Thailand time the funds would arrive around 2pm same day.  Or if sending after 9:30am or on Sat-Sun the funds would arrive next business day around 2pm whether I was sending to my Bangkok Bank or Krungsri Bank accts.   

 

In the past when sending to my Bangkok Bank acct I would  always get International Transfer/FTT coding......but when sending to my Krungsri Bank acct I would never get international transfer coding/just plain ol' domestic transfer coding. 

 

When checking my Wise PDF Receipt for today's transfer K-bank was the Wise partner bank used instead of Bangkok Bank.....Bangkok Bank as the partner bank had always been used for my transfers in the past.   In the past before Wise developed the Long Stay Thailand reason for transfer I had got with Wise to have my transfers tagged to always use Bangkok Bank as the partner bank to ensure I got International Transfer/FTT coding when sending to my Bangkok Bank acct.  But based on today's transfer they are apparently now ignoring that previous tagging since they used K-bank for the partner bank and although I selected the Long Stay Thailand reason for transfer.

 

Yeap...my first ever almost instant Wise transfer (only took 4 seconds) but I did "not" get international transfer coding like I use to get when sending to my Bangkok Bank acct; instead, I got domestic transfer coding.   Also, for you U.S. folks this is more proof almost instant  Wise transfers from the U.S. are possible instead of the funds arriving around 2pm same business day or next business day.  I was always jealous of other folks who were routinely getting 4 second transfers...like UK folks.

 

To me this thread is screaming things have changed (maybe temporary, maybe permanent) in how Wise manages transfers to Thailand....even when sending from the U.S.  Seems using the Long Stay Thailand reason for transfer (and even if you had your acct tagged before) will no longer ensure Int'l Transfer/FTT coding when sending to your Bangkok Bank acct.  But that's' not an issue for me since I don't use the monthly income transfer method for my extension of stays; instead, I use the large deposit method.   But it does mean if I want proof of international coding like to repatriate funds in the funds I will need to get a Credit Advice....and have to go to the Wise partner bank used to get it....for today's transfer I would need to go to K-bank where I don't have an acct.

 

I think the issues all have now are from  BoT directive regarding the manner the banks report/process transactions involving fx to Thb components. I have been advised by Wise that if I require confirmation of an international transfer I should use Swift bank to bank

Edited October 11, 2021 by norbra

[racyrick]

1 hour ago, norbra said:

I think the issues all have now are from  BoT directive regarding the manner the banks report/process transactions involving fx to Thb components. I have been advised by Wise that if I require confirmation of an international transfer I should use Swift bank to bank

WISE always had a disclaimer that said the code for international transfer was not guaranteed. The answer they gave you is a standard response for legal reasons.

However, when you talked to WISE, did they say that this is the new norm and that choosing funds for long term stay will not work again for Bangkok Bank only transactions or is it a temporary thing?

Thanks again for all your help!!

PS- I called twice with basically no help and still waiting for a reply from them.

[KannikaP]

On 10/9/2021 at 5:40 PM, treetops said:

When Transferwise (as they were then) introduced Long Stay in Thailand as an option to choose when sending, it was in direct response to issues Thai expats raised at the time related to the international transfer requirement for immigration.  For some month before it was available a phone call was required to flag your account as requiring "special" treatment.

 

When this process was finalised they made it clear that it was not 100% guaranteed and that there could be technical or other issues causing the process to change and the International Transfer designation to be lost.  I think we've just come across one of these technical issues (not bad after a good run for the last couple of years) and something has gone wrong preventing the "good" system from working.

 

Fortunately it's been flagged early enough in the month for alternate processes to be used to maintain requirements for visa extension reasons, or hopefully for the glitch to be fixed and Wise transfers to go back to how they were.

After an email to Wise, here is the reply.

 

##- Please type your reply above this line -## Maria Ahra B. (TransferWise) Oct 11, 2021, 4:56 GMT+2 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

 

 

 

[lopburi3]

1 hour ago, KannikaP said:

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.

They do not seem to understand we are not asking for FET forms - there has been a change and long stay in Thailand is not resulting in payment by the destination bank anymore - nothing to do with Wise issuing anything - Bangkok Bank is the source of the international transfer FTT at that bank if payment is made from Wise account at that bank.  They are now paying from another Thai bank account so it is registered as domestic.

[norbra]

10 minutes ago, lopburi3 said:

They do not seem to understand we are not asking for FET forms - there has been a change and long stay in Thailand is not resulting in payment by the destination bank anymore - nothing to do with Wise issuing anything - Bangkok Bank is the source of the international transfer FTT at that bank if payment is made from Wise account at that bank.  They are now paying from another Thai bank account so it is registered as domestic.

I spoke with Kbank international div and they advise that they are receiving the money via a different "channel", previously my transfers were "automated" on arrival at international div  and showed TT,this is no longer the case now it's just a local transaction from Kbank trade div. For what it's worth they also told me that all Kbank fx transactions were processed by the their Trade/International div

Edited October 11, 2021 by norbra

[racyrick]

15 minutes ago, lopburi3 said:

They do not seem to understand we are not asking for FET forms - there has been a change and long stay in Thailand is not resulting in payment by the destination bank anymore - nothing to do with Wise issuing anything - Bangkok Bank is the source of the international transfer FTT at that bank if payment is made from Wise account at that bank.  They are now paying from another Thai bank account so it is registered as domestic.

EXACTLY, that is what needs to be asked to WISE. If you mention the international transfer designation, you always get the standard reply above. We all know how WISE works and this is NOT the issue as you stated.

We need to simply ask the following-

When we put reason for transfer as long term stay in Thailand, the transfer ALWAYS came directly to Bangkok Bank and NO other bank was involved or used in the transaction. This is NO LONGER happening. Will this problem be corrected or will the transfer no longer be conducted this way?

I have already tried 2 times and have not gotten an answer. Very frustrating and I called both times and did not use email. Like talking to a deer caught in the headlights and both times said they need to pass this up and someone would contact me.

[lopburi3]

16 minutes ago, norbra said:

I spoke with Kbank international div and they advise that they are receiving the money via a different "channel", previously my transfers were "automated" on arrival at international div  and showed TT,this is no longer the case now it's just a local transaction from Kbank trade div. For what it's worth they also told me that all Kbank fx transactions were processed by the their Trade/International div

Could be they are using their Deemoney connections now?  In any case appears to have been a change in payment channels made so download of Wise transactions may be what is required in the future to support payment path from outside Thailand.

[gk10012001]

On 10/8/2021 at 8:10 PM, Henryford said:

That's the problem with the 65k a month method. You only need one month not to show as an international transfer and there goes your extension visa.

Yes it is so frustrating that the USA embassy stopped those income letters.  All that can happen is problems, and many reports of problems happening.  Some officers have been a bit tolerant if all bank records are presented but pure insanity that no automatic easy peasy infallible way is around to avoid the possible Draconian response of the IOs.  I guess be proactive and check your transfers monthly before you need to go to immigration and maybe catch problem. Do another transfer if possible

[Pib]

10 minutes ago, lopburi3 said:

Could be they are using their Deemoney connections now?  In any case appears to have been a change in payment channels made so download of Wise transactions may be what is required in the future to support payment path from outside Thailand.

That very well could be the situation because when my money from US to Thailand arrived in 4 seconds today I almost fell out of my chair as I had never got a Wise transfer in seconds...it was always in the afternoon or next business day.  As mentioned in my earlier post the Wise PDF Receipt showed K-bank, not DeeMoney, was used as the partner bank to send the money into my Bangkok Bank acct.  

 

Now, did DeeMoney possibly first get the Wise instructions to send the funds over to K-bank who in turn sent it to my Bangkok Bank acct....I don't know.  Would need to get a Credit Advice to possibly see more info on the route the funds transfer took.    Over the last few months I have seen a few posts where people said the partner bank used by Wise was DeeMoney...I assume that's was what shown on their Wise PDF Receipt.

 

Preaching to the choir I know...but we are all guessing right now as to what has changed.

Edited October 11, 2021 by Pib

[JohnOFphon]

Just another hurdle to jump over. Seems to be a new one added every month.

 

I sincerely hope that the transfers will revert to the way they were, but a sick feeling tells me I'm dreaming.

 

Thanks to all the Consulates for not issuing the income letters anymore. Such a big help. (Not!!)

[gk10012001]

21 minutes ago, gk10012001 said:

Yes it is so frustrating that the USA embassy stopped those income letters.  All that can happen is problems, and many reports of problems happening.  Some officers have been a bit tolerant if all bank records are presented but pure insanity that no automatic easy peasy infallible way is around to avoid the possible Draconian response of the IOs.  I guess be proactive and check your transfers monthly before you need to go to immigration and maybe catch problem. Do another transfer if possible

And while I wanted to get the retirement visa OA inititally but now may go O since USA embassy offers it, I will certainly be going back and forth to the USA twice a year if not 3 times.  The visa extension with reentry permit would have been easy with the income letter.  But now, I would hve to keep transferring moneyu into thailand uninterrupted even if I was not in Thailand!  The 800k baht method while easily doable is not something I like as i prefer to keep my monies invested where they are

[norbra]

Has any BBL member received a credit advice for their poblem transfer,if so,what transaction information do they provide.

[pablo el sueco]

2 hours ago, KannikaP said:

After an email to Wise, here is the reply.

I simply do not understand the dynamics here.  Let us assume, when I do a funds transfer from abroad, that I want my bank passbook--and my annual bank statement--to show that the funds originated abroad.  Given that premise, these are my 4 questions:

 

1  Is WISE now saying that my only course of action is to use the SWIFT procedure when I set up the WISE transfer?
2  Is WISE assuring me that when I use the SWIFT procedure, I will always get an indicator that the fund source is foreign?
3  Is WISE saying that I must use the SWIFT procedure regardless of which Thailand bank is the destination of the transfer?
4  Is WISE saying that if I don't use the SWIFT procedure through WISE then I must use a different transfer company?

[KannikaP]

4 minutes ago, pablo el sueco said:

I simply do not understand the dynamics here.  Let us assume, when I do a funds transfer from abroad, that I want my bank passbook--and my annual bank statement--to show that the funds originated abroad.  Given that premise, these are my 4 questions:

 

1  Is WISE now saying that my only course of action is to use the SWIFT procedure when I set up the WISE transfer?
2  Is WISE assuring me that when I use the SWIFT procedure, I will always get an indicator that the fund source is foreign?
3  Is WISE saying that I must use the SWIFT procedure regardless of which Thailand bank is the destination of the transfer?
4  Is WISE saying that if I don't use the SWIFT procedure through WISE then I must use a different transfer company?

Do WISE actually do SWIFT transfers?

[racyrick]

37 minutes ago, pablo el sueco said:

I simply do not understand the dynamics here.  Let us assume, when I do a funds transfer from abroad, that I want my bank passbook--and my annual bank statement--to show that the funds originated abroad.  Given that premise, these are my 4 questions:

 

1  Is WISE now saying that my only course of action is to use the SWIFT procedure when I set up the WISE transfer?
2  Is WISE assuring me that when I use the SWIFT procedure, I will always get an indicator that the fund source is foreign?
3  Is WISE saying that I must use the SWIFT procedure regardless of which Thailand bank is the destination of the transfer?
4  Is WISE saying that if I don't use the SWIFT procedure through WISE then I must use a different transfer company?

Basically no matter who says it, the ONLY way to guarantee you get an International transfer designation is to send your funds from overseas using a bank SWIFT transfer or ANY service that uses a SWIFT transfer method.

For people who have Bangkok Bank accounts, we were lucky that they coded the WISE transfer as an International transfer even though it technically is NOT. We just had to make sure we used Long term stay in Thailand as the reason for transfer.

However, this is NOT the case now and is NOT working.

[bbko]

41 minutes ago, KannikaP said:

Do WISE actually do SWIFT transfers?

Yes but read this off their website about using Wise and SWIFT;

Fees for SWIFT payments

• Your bank will likely charge a fee to make a SWIFT transfer to Wise. 

https://wise.com/help/articles/2553074/paying-by-swift?origin=search-international+wire

 

If I'm going to get charged twice for one transfer, I'll just contact my US bank directly and use them to send via SWIFT, Goodbye Wise you're no longer reliable or needed.

[scubascuba3]

1 hour ago, norbra said:

I spoke with Kbank international div and they advise that they are receiving the money via a different "channel", previously my transfers were "automated" on arrival at international div  and showed TT,this is no longer the case now it's just a local transaction from Kbank trade div. For what it's worth they also told me that all Kbank fx transactions were processed by the their Trade/International div

You don't use Bangkok Bank so confusing things again

[norbra]

12 minutes ago, scubascuba3 said:

You don't use Bangkok Bank so confusing things again

Only for you the thread is about international transfers,you have a problem withh bbl,I have the same problem with Kbank. You might get more specific information on Facebook search for Transferwise Solutions Thailand they are very knowledgeable about BBL/Wise transactions

Edited October 11, 2021 by norbra

[TimBKK]

For USA citizens: I have a “cash management account” (basically, a normal savings account) with Fidelity Brokerage. They offer no fee international wire transfers.  On 9/22 I processed a trial transfer of $500 to my Bangkok Bank account.  It showed up in this account the following day coded as FTT.  BB charges 200-500 THB to process wire transfers; the equivalent of 65000 THB would incur a 500 THB processing fee, I believe.

 

Think I will use this versus trying to reconcile Wise and whatever local bank they use to transfer into, matching statements etc.  Likely a bit more expensive per transaction but worth it for the sake of simplicity IMO.

[scubascuba3]

59 minutes ago, norbra said:

Only for you the thread is about international transfers,you have a problem withh bbl,I have the same problem with Kbank. You might get more specific information on Facebook search for Transferwise Solutions Thailand they are very knowledgeable about BBL/Wise transactions

You should start a Kasikorn and International transfers thread that would be more useful and less misleading for everyone else. As for facebook yes I've been using that group for ages, more posts about this Bangkok Bank problem

[Pib]

56 minutes ago, racyrick said:

Basically no matter who says it, the ONLY way to guarantee you get an International transfer designation is to send your funds from overseas using a bank SWIFT transfer or ANY service that uses a SWIFT transfer method.

 

Even doing a SWIFT transfer does not "guarantee" you will get international transfer coding if the final leg of the transfer uses the Thailand BAHTNET transfer system. 

 

The Bank of Thailand BAHTNET transfer system is a primary system Thai banks use for real time transfer of domestic transfers...usually for higher value transfers but low values can also flow in the system.   However, the BAHTNET system also interfaces with the SWIFT system which means it can pickup/process incoming SWIFT transfers and not only transfers originating within Thailand.  

 

If the foreign bank routing of your SWIFT transfer happens to utilize BAHTNET as an intermediary/ final leg of the transfer (probably to reduce transfer costs) to your Thai bank then you will not get international description & coding but you'll get BAHTNET coding which is typically BAHTNET & BTN,  And as mentioned BAHTNET coding "typically" means a domestic transfer....to prove it originated outside of Thailand you'll need to get a Credit Advice.

 

For example US folks who have their govt pensions paid via International Direct Deposit (IDD) which utilizes SWIFT receive BAHTNET coding since the final step of the transfer uses a BAHTNET SWIFT code.  The U.S. Treasury contracts with Citibank to flow the payments thru the SWIFT system.   My wife gets her monthly U.S. govt Social Security paid via IDD to her Bangkok Bank acct and the description/coding received is BAHTNET/BTN instead of International Transfer/FTT coding when she use to receive the payment via the U.S. Automated Clearing House (ACH) system where the Bangkok Bank NY branch ACH "routing number" was used.  

 

I've also seen a fair amount of AseanNow posts over the years from Oz folks receiving an Oz govt pension and their coding is BAHTNET also.  

 

Another example:  OFX (a money transfer company like Wise) uses SWIFT vs peer-to-peer like Wise.  I have an acct with OFX and occasionally do a transfer with them just to keep the acct active.   But although you use the SWIFT code of your  receiving Thai bank OFX also utilizes the BAHTNET system for the final leg of the transfer which results in a BAHTNET/BTN coding.  I expect they uses BAHTNET for the final leg to reduce transfer costs.   All money transfer services are looking for the lowest transfer costs/methods so they can increase their profits.

 

Basically, if your sending banking/financial institution uses a SWIFT routing that interfaces with the BAHTNET system you will not receive international transfer coding on your Thai bank statement/passbook.  You really don't have much of any control over the SWIFT routing used by your sending financial institution in order to reach the final destination SWIFT code of your receiving bank.  But fortunately if your receive BAHTNET coding, if you get a Credit Advice it will show the funds originated outside Thailand and you'll probably see below SWIFT code used for the final leg of the transfer where the Bank of Thailand relayed the funds over to your receiving Thai bank via the BAHTNET system.

 

For example: The Bank of Thailand BAHTNET SWIFT Code. 

 

 

[lexilis]

I understood that Wise utilized three Thai banks and that they were BBK, KSK, and another one I forget. When you selected "funds for long term stay" then Wise routed those transfers to BBK only.  BBK then tagged them as FFT and everything was good. Perhaps Wise has dropped BBK as one of their local banks and are not using them anymore. Then any transfer to an account at BBK would have to come from one of the banks like KSK that Wise is now using and thus be domestic. Can anyone confirm that Wise is no longer using BKK? 

[norbra]

1 minute ago, lexilis said:

I understood that Wise utilized three Thai banks and that they were BBK, KSK, and another one I forget. When you selected "funds for long term stay" then Wise routed those transfers to BBK only.  BBK then tagged them as FFT and everything was good. Perhaps Wise has dropped BBK as one of their local banks and are not using them anymore. Then any transfer to an account at BBK would have to come from one of the banks like KSK that Wise is now using and thus be domestic. Can anyone confirm that Wise is no longer using BKK? 

Kasikorn bank is slso affected with this issue,Kbank to Kbank local transfer

[scubascuba3]

14 minutes ago, lexilis said:

I understood that Wise utilized three Thai banks and that they were BBK, KSK, and another one I forget. When you selected "funds for long term stay" then Wise routed those transfers to BBK only.  BBK then tagged them as FFT and everything was good. Perhaps Wise has dropped BBK as one of their local banks and are not using them anymore. Then any transfer to an account at BBK would have to come from one of the banks like KSK that Wise is now using and thus be domestic. Can anyone confirm that Wise is no longer using BKK? 

That is the purpose of this thread, to find out, many people have raised with Wise with no decent response yet. Ignore the Kasikorn off topic stuff

[Pib]

4 minutes ago, lexilis said:

I understood that Wise utilized three Thai banks and that they were BBK, KSK, and another one I forget. When you selected "funds for long term stay" then Wise routed those transfers to BBK only.  BBK then tagged them as FFT and everything was good. Perhaps Wise has dropped BBK as one of their local banks and are not using them anymore. Then any transfer to an account at BBK would have to come from one of the banks like KSK that Wise is now using and thus be domestic. Can anyone confirm that Wise is no longer using BKK? 

That third bank was Thai Military Bank (TMB) which I saw on my Wise PDF Receipt once or twice years back when I did a few transfers.   However, TMB merged with Thanachart Bank over the last year  to form a new bank called TMBThanachart Bank (a.k.a. TTB).    I don't know if Wise and TTB have a partnering relationship. 

 

I've also seen a few forum posts where people said DeeMoney appeared as the partner bank on their Wise PDF receipts. 

 

But when you look at some of Wise Help Q&A they only mention Bangkok Bank and K-bank.

 

I expect Wise partner banks will periodically change if Wise can get a better/cheaper deal (more profits for them) like how DeeMoney is apparently used sometimes.

 

But Bangkok Bank customers should have a Plan B if their Wise transfers stop getting international Transfer/FTT coding because someday Wise and Bangkok Bank may part ways.....or Bangkok Bank just changes its policy in providing FTT coding for Wise transfers.  Stuff happens!

 

[KannikaP]

1 hour ago, bbko said:

Yes but read this off their website about using Wise and SWIFT;

Fees for SWIFT payments

• Your bank will likely charge a fee to make a SWIFT transfer to Wise. 

https://wise.com/help/articles/2553074/paying-by-swift?origin=search-international+wire

 

If I'm going to get charged twice for one transfer, I'll just contact my US bank directly and use them to send via SWIFT, Goodbye Wise you're no longer reliable or needed.

The article says that '

• Your bank will likely charge a fee to make a SWIFT transfer to Wise.

Why would someone want to transfer TO Wise via SWIFT, what we want is WISE to make a SWIFT transfer to Bangkok or other Thai bank. It doesn't make sense, does it?.