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Money transfer restrctions


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At the behest of banks, banking software developers must have engineered the AI to interrogate or intercept random amounts that have a comma before three zeros. "if >999 or if foreign IP address or if transfer frequency exceeds whatever, then intercept or flag and stop transaction and redirect for manual checks" .. something like that.

 

Yes, everything is policed now. Even credit card use go through an approval system that is now AI screened for risk mitigation. It's literally an electronic brain asking "if.. then". IF John Doe sends GBP 1001 or IF he sent it from an overseas IP or IF he recently transferred multiple times or IF source of funds unclear, THEN flag or stop transfer.  

 

 

  

Edited by mvdf
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One week ago, I transferred 2K sterling from my UK account (HSBC) via Wise to my Thai (SCB) account.   I always use the debit card method.   Only difference this time was I needed to log onto my HSBC account to verify the transaction.   That done, transfer took the usual seconds before SCB receipt confirmation.   

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As an experiment I just did a transfer of 55,000 Baht and 5,000 Baht from my Wise THB a/c to my Kasikorn Bank account.  Both are flagged by Wise to arrive at Kbank at 9:55am this morning.  My experience is that Wise transfers of this kind are immediate if done during Thai business hours.

 

I did a transfer of 100K on 22 Nov and it arrived within seconds.

 

Perhaps the fact that I always transfer from Wise THB a/c makes a difference in how it is surveilled by the government of the Democratic Socialist Republic of Great Britain and Northern Ireland.

Edited by Gsxrnz
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Yes only 49,999 bahts to non K-Bank recipients per transaction. But more than the THB 49,999 you can still make multiple transfer..For K-Bank recipients no problem can be more...I have tried.

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I just sent on 300K last week from UK to my SCB account, no issues at all,  was in my bank account in 48 hours.

Edited by MRToMRT
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10 minutes ago, MRToMRT said:

I just sent on 300K last week from UK to my SCB account, no issues at all,  was in my bank account in 48 hours.

I think it took effect from 24 Nov that's what's my bank said...

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1 hour ago, chuang said:

Yes only 49,999 bahts to non K-Bank recipients per transaction. But more than the THB 49,999 you can still make multiple transfer..For K-Bank recipients no problem can be more...I have tried.

i send yesterday more than that Thb amount in 1 transaction  by Kasikorn  K+ mobile app  to my European bank , arrived same 24 hours in my E.U. bank , the day before that..., another Thb transfer the  same way same amount as before , same arrival in 24 hours on my  E.U. bank

Edited by david555
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2 hours ago, eyup said:

The problem could be paying by credit or debit card I transfer funds to Wise bank account direct from my UK bank account . Never an issue doing that.

 

 

Me neither.

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6 hours ago, scubascuba3 said:

Roughly over £1,000 can trigger extra checks at the UK bank, if so it's delayed not stopped. That's even to Wise which is UK

Yeah, I'm aware of the checks but not the limit amounts. I'll send some money over 50k and see what Wise says.

 

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4 hours ago, pagallim said:

One week ago, I transferred 2K sterling from my UK account (HSBC) via Wise to my Thai (SCB) account.   I always use the debit card method.   Only difference this time was I needed to log onto my HSBC account to verify the transaction.   That done, transfer took the usual seconds before SCB receipt confirmation.   

That's just UK security checks, get these all the time now when buying online, even had one for a £10.99 transaction ...

 

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47 minutes ago, Chelseafan said:

Yeah, I'm aware of the checks but not the limit amounts. I'll send some money over 50k and see what Wise says.

 

as a extra note  concerning  k+ sending money ,my remarks were for Kasikorn use , might be Wise & others ...  are not banks , but financial institutes might be under different restriction rules .

Just to clear up possible differences 

 

Also i noticed now  ...🙄, topic was more for sending TO Thailand  , while my answer and experience was about  sending money OUT of Thailand , hence make the difference about 49999 Thb against same number in example  £'s 

 

Me not having  experience with U.K. financial regulations .

Edited by david555
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18 minutes ago, JAS21 said:

Very interesting… I ordered my monthly 65,100thb from the UK at exactly 7:33am (thai time) today. Paid via bank transfer from our joint RBS account to the WISE account within the next five minutes.

 

I just see that it made its way into my BB a/c at 14:04hrs… International funds transfer….

If it is 50k baht limit then that will screw up peoples 65k+ monthly retirement transfers, need to split into two i guess

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There is no limit imposed on the amount of foreign currency which may be transferred into Thailand.    Enquiries may be made regarding the purpose/source of the funds but there is no limit.

Edited by Liverpool Lou
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I use Western Union because of my circumstances.  I haven't had any issues.  6 -7 day wait bank to bank or transaction verification code sent to my email for pick up.

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I was informed by BankofAmerica that transfers were limited to $1,000 usd after Nov 15th unless I call the bank and verify or get a USB security device added to my PC that will electronically verify to BankofAmerica.

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1 hour ago, chilli42 said:

As far as I can tell, Thai banks will accept any amount you want to send in.  I have sent, from the US, amounts up to 4 million Baht and nobody blinks an eye.

Good to know. I've got 2 million Baht coming soon from an inheritance. I have a bank account in EU country B and the money is coming from a solicitor in EU country A, but I've heard that even in such a straightforward case EU banks have software that can flag me a money washer and block my account.  So I was advised to have the money transferred straight to Thailand.

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