TMB/Thanachart cannot accept wire transfer over 50k baht (from foreign pension agencies) ?

[VinnieK]

A bit of a crazy story but here it is..

 

Posted on behalf of a thai/swiss friend...you older sleuths are way better versed in these  issues than me.

 

She normally gets her pension in the middle of the month but not this time.

 

Upon inquiring at the bank, (TTB) she was told that the pension climbed over the 50k baht mark and the bank cannot accept transfers over that amount.

 

Is this even a thing?

 

Anybody has more info?

 

Which bank should she be moving to?

 

The story is what she told me and keep in mind that she is 80 and mildly senile...some details might be missing.

 

Thanks for any answers.

[mtls2005]

Many, many threads on this matter when it appeared ~ 1 December

 

just a few

 

https://aseannow.com/topic/1243487-krungthai-max-deposit-50k/

 

https://aseannow.com/topic/1241446-money-transfer-restrctions/

 

[Chivas]

Quite amusing that several had a pop at me over the weekend when I said exactly this in relation to Kasikorn.....

[chang50]

44 minutes ago, Chivas said:

Quite amusing that several had a pop at me over the weekend when I said exactly this in relation to Kasikorn.....

Something is happening definitely..

[BritManToo]

1 hour ago, VinnieK said:

Upon inquiring at the bank, (TTB) she was told that the pension climbed over the 50k baht mark and the bank cannot accept transfers over that amount.

So retirement requires 65Kbht/month transfer from abroad .......

But you are limited to 50kbht/month.

 

Somethings not right there.

 

Would suggest using Wise, and it being recorded as a 'local' transfer.

But makes the paperwork harder if you're using 65kbht/month to get a retirement extension.

Edited December 20, 2021 by BritManToo

[chang50]

11 minutes ago, BritManToo said:

So retirement requires 65Kbht/month transfer from abroad .......

But you are limited to 50kbht/month.

 

Somethings not right there.

 

Would suggest using Wise, and it being recorded as a 'local' transfer.

But makes the paperwork harder if you're using 65kbht/month to get a retirement extension.

Almost as if someone is trying to discourage the 65k baht method..

[VinnieK]

2 hours ago, Chivas said:

Quite amusing that several had a pop at me over the weekend when I said exactly this in relation to Kasikorn.....

Kasikorn also restrictive?

She would be heading there tomorrow to open a new acct

Apparently, they said 'no pobem' 

[ArcticFox]

Find a different bank.  If they continue down this road, then any aspirations of attracting the wealthy and well heel" isn't going to happen when they can't transfer funds into Thailand.

[dsj]

I had transfered 52,000 Baht to my TBB account thru Wise, it went thru

[Classic Ray]

Appears no restriction at Bangkok Bank via Wise, I just transferred over that amount.

[JimHuaHin]

I transferred just over Baht 200,000 into Kbank earlier this month, as I do every few months - no problems as usual.

[TigerandDog]

I'm with ttb ( TMB/Thanachart ) and I received an international transfer yesterday for 130k baht. Something doesn't sound right with this story.

 

To me this sounds like the daily deposit & withdrawal limits on the account need updating. When I first opened my accounts with TMB the daily deposit limit ( dometic & international ) was 50k baht and the daily withdrawal limit was 20k baht. These can be changed by logging into the ttbonline web site and signing into your account. I easily increased both limits to suit my needs.

Edited December 21, 2021 by TigerandDog

[CM Dad]

I never do wire transfers for under 150,000 baht to my accounts at both Bangkok Bank and Krungsi Bank,  I usually use Swift and have never has any problems.  In fact, I did a transfer of more than 1,500,000 recently to Bangkok Bank via Swift to make a fairly large purchase and it arrived in under 12 hours.  I cannot understand why so many are saying they are having trouble with wire transfers.  

[Finlaco]

As of December 1st, the maximum you can send in a single transfer will be 49,999.99 THB. The change is due to new regulations introduced by the Anti-money Laundering Office (AMLO) and Payment System Office (PSO) for Thailand and applies to all money transfer companies.  Azimo

 

I received this email from.one of the peer to peer transfer companies earlier this month.  I check with Wise and they say no limit for them to Thailand.  I haven't done a tlf since the new laws.

 

 

 

 

 

 

[robblok]

1 hour ago, JimHuaHin said:

I transferred just over Baht 200,000 into Kbank earlier this month, as I do every few months - no problems as usual.

Transferred 350k into Kasikorn 17-12-2021 from my Dutch bank with SWIFT no problem at all.

 

So maybe its certain banks.

[grain]

I'm with SCB I do regular transfers from my CBA bank in Australia via OFX every few months for amounts of over 200,000 THB. Last one was about 2 months ago, so I certainly hope I don't hit any snags next time I need to do a transfer, sometime in Jan 2022. 

[oceanbreeze851]

Same here. Transferred 100,000 baht from Schwab to K-bank 17-12-2021. 

[tonray]

This may have more to do with receiving transfers from non-banking entities such as pension providers, cash person to person transfers, etc. and perhaps there is simply an additional form to get signed to satisfy new money laundering regs.

Edited December 21, 2021 by tonray

[foreverlomsak]

So much for their concerns over non payment of hospital bills by foreigners if you cannot transfer a large sum of funds here at short notice.

Just tried Wise from UK 30 minutes ago 600K THB cannot do, 400K THB cannot do, 200K THB OK get tomorrow 2.13pm in Bangkok Bank.

[ujayujay]

Open a account with Bangkok Bank, had 14 Years never a problem with international money transfers.

[chang50]

If there have been changes to the AMLO/PSO regulations for Thailand as has been suggested here and elsewhere why aren't they being applied consistently to all transfers/deposits over 49999 baht and why does Wise know nothing about it?Something strange is happening..

[wwest5829]

2 hours ago, Finlaco said:

As of December 1st, the maximum you can send in a single transfer will be 49,999.99 THB. The change is due to new regulations introduced by the Anti-money Laundering Office (AMLO) and Payment System Office (PSO) for Thailand and applies to all money transfer companies.  Azimo

 

I received this email from.one of the peer to peer transfer companies earlier this month.  I check with Wise and they say no limit for them to Thailand.  I haven't done a tlf since the new laws.

 

 

 

 

 

 

I have continued my monthly Wise transfers in excess of 65K baht for retirement visa without incident into Bangkok Bank since this idea was first posted.

[digger70]

4 hours ago, Classic Ray said:

Appears no restriction at Bangkok Bank via Wise, I just transferred over that amount.

Same here 400K  THB.  ????

[chilly07]

Bangkok bank don't give any hassle over 50k but I do 3x 40k pm for Immigration purposes (using Wise) and have done so since 1Dec

Edited December 21, 2021 by chilly07

[robblok]

2 hours ago, tonray said:

This may have more to do with receiving transfers from non-banking entities such as pension providers, cash person to person transfers, etc. and perhaps there is simply an additional form to get signed to satisfy new money laundering regs.

Really good remark, if the two banks have the same accountholder in its name then there is probably no problem. Otherwise the problem might arise now. Im not sure how wise works but if they send without an accountholder his name it might give problems.

[KhunBENQ]

My last bigger WISE transfer is from 29 November to Bangkok Bank, amount of roughly 76000 Baht. Never had a problem.

I transfer from a WISE Euro account located in Belgium in my name to a BKB account in my name.

 

I searched the net for useful hints to no avail.

Bangkok Bank states no limits (as other sites do similar):

Quote

There is no limit to the amount of funds that can be transferred from abroad into a Bangkok Bank account.

However, senders must specify the purpose of the money transfer for every transfer, as commercial banks are required to report this to the Bank of Thailand on the client’s behalf.

I put in bold this "purpose" thing. WISE will always ask for the purpose.

I usually specify it as money for long term residence.

I results in a next day transfer, arriving about 2 PM.

 

A German mate receives his monthly Euro pension directly to his BKB account since years from German pension fund. Transferred in Euro.

It is surely over 50k Baht and he would have cried foul very loud if it didn't work.

Today I transferred a small amount (less than 200 Euro ~ 7500 Baht) for a mate.

This time I specified "for services" (not sure about the English term).

I went through in 5 seconds. Peer-to-peer obviously.

 

https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/FAQs

Edited December 21, 2021 by KhunBENQ

[Srikcir]

4 hours ago, foreverlomsak said:

So much for their concerns over non payment of hospital bills by foreigners if you cannot transfer a large sum of funds here at short notice.

Just tried Wise from UK 30 minutes ago 600K THB cannot do, 400K THB cannot do, 200K THB OK get tomorrow 2.13pm in Bangkok Bank.

Some private and state hospitals by my experience will accept payment from foreigners by foreign VISA and/or Mastercard. Then just pay those charges through foreign homeland bank payments. No foreign bank transfers to Thailand necessary.

[lungbing]

I suspect some confusion somewhere.  Perhaps there is a limit of 50,000 US dollars in one transaction and that was misunderstood as being baht. Just an idea.

[chang50]

8 minutes ago, lungbing said:

I suspect some confusion somewhere.  Perhaps there is a limit of 50,000 US dollars in one transaction and that was misunderstood as being baht. Just an idea.

Well if that's true there are an awful lot of confused people on this and related threads on thaivisa.Something is happening and getting to the bottom of it is proving highly elusive.Transfers of 50000 us dollars are not that common so as to generate multiple threads.

[foreverlomsak]

19 hours ago, Srikcir said:

will accept payment from foreigners by foreign VISA and/or Mastercard.

Many do not have one as many UK banks are now refusing to send cards to non UK addresses.