Popular Post Chivas Posted January 6, 2022 Popular Post Share Posted January 6, 2022 So people getting delayed or completely stopped on certain bank transfers now know exactly why 5 2 1 3 1 Link to comment Share on other sites More sharing options...
rodknock Posted January 6, 2022 Share Posted January 6, 2022 no problem, i use Bangkok bank Link to comment Share on other sites More sharing options...
Popular Post Chivas Posted January 6, 2022 Author Popular Post Share Posted January 6, 2022 1 minute ago, rodknock said: no problem, i use Bangkok bank I'd be more concerned that regulatory control is heavily underway 8 2 1 Link to comment Share on other sites More sharing options...
KhunBENQ Posted January 6, 2022 Share Posted January 6, 2022 (edited) Wow, that now is an explanation why some posters reported this problem and others (like me) do not have a problem. Have three accounts at exactly these three. What seems unclear to me: does it effect only services like WISE? Edited January 6, 2022 by KhunBENQ 2 Link to comment Share on other sites More sharing options...
Popular Post scubascuba3 Posted January 6, 2022 Popular Post Share Posted January 6, 2022 Sounds like those 3 banks have effective AML procedures in place 3 2 2 1 Link to comment Share on other sites More sharing options...
Chris.B Posted January 6, 2022 Share Posted January 6, 2022 3 minutes ago, KhunBENQ said: Wow, that now is an explanation why some posters reported this problem and others (like me) do not have a problem. Have three accounts at exactly these three. What seems unclear to me: does it effect only services like WISE? But it says effective from today, 1:00 pm ? ???? It seems to have been effective before then. 1 1 Link to comment Share on other sites More sharing options...
Mang Gon Posted January 6, 2022 Share Posted January 6, 2022 5 minutes ago, scubascuba3 said: Sounds like those 3 banks have effective AML procedures in place 50,000 baht = $ 1493.21 USD todays rate Does anyone know how many transfers can be made daily/monthly to a bank? 1 Link to comment Share on other sites More sharing options...
lopburi3 Posted January 6, 2022 Share Posted January 6, 2022 This appears to be a domestic within Thailand regulation, but as Wise pays from domestic accounts they can not send to banks they do not have accounts with (the three exceptions listed) an amount over 50k. Link to comment Share on other sites More sharing options...
Popular Post CrunchWrapSupreme Posted January 6, 2022 Popular Post Share Posted January 6, 2022 More BS. Others have just been reporting issues using foreign credit cards. Still rolling out the red carpet for those BIG SPENDING, QUALITY TOURISTS! ???????????????????????? 2 1 Link to comment Share on other sites More sharing options...
Chivas Posted January 6, 2022 Author Share Posted January 6, 2022 23 minutes ago, KhunBENQ said: What seems unclear to me: does it effect only services like WISE? No...thats clearly (in my opinion) relating to all inbound transfers Doubtless some using swift etc etc can confirm or deny in the coming days 1 1 Link to comment Share on other sites More sharing options...
Mang Gon Posted January 6, 2022 Share Posted January 6, 2022 3 minutes ago, lopburi3 said: This appears to be a domestic within Thailand regulation, but as Wise pays from domestic accounts they can not send to banks they do not have accounts with (the three exceptions listed) an amount over 50k. Not 100% on what you are getting at RE: domestic Is this like when Mexicans in USA want to send wages home to Mexico they are limited in the amount? So if I was sending money to a Thai friend via Wise to their bank I can only send up to 50k to non-Thai bank but larger amounts (within Wise's limits) to Thai bank? Link to comment Share on other sites More sharing options...
Popular Post lopburi3 Posted January 6, 2022 Popular Post Share Posted January 6, 2022 (edited) 8 minutes ago, Mang Gon said: Not 100% on what you are getting at RE: domestic Is this like when Mexicans in USA want to send wages home to Mexico they are limited in the amount? So if I was sending money to a Thai friend via Wise to their bank I can only send up to 50k to non-Thai bank but larger amounts (within Wise's limits) to Thai bank? This is Thailand specific. Wise has accounts at the three listed banks and makes payments to other banks in Thailand from those accounts. You can send any amount to BBL/SCB/K but to any other Thai Bank it must be below 50k for each transaction. What is not clear is if this is a general rule that Thai bank transfers must be less than 50k (which seems unlikely) or something special due to Wise systems of payment from local accounts not meeting paperwork requirements. Edited January 6, 2022 by lopburi3 2 1 Link to comment Share on other sites More sharing options...
Popular Post rabas Posted January 6, 2022 Popular Post Share Posted January 6, 2022 (edited) 40 minutes ago, Chivas said: I'd be more concerned that regulatory control is heavily underway Agree. Combined with PayPal Thailand stopping inbound transfers and holding of funds for all personal accounts. Also Thailand specific. Edited January 6, 2022 by rabas 3 Link to comment Share on other sites More sharing options...
Popular Post phetphet Posted January 6, 2022 Popular Post Share Posted January 6, 2022 (edited) Won't this affect those sending 65,000 baht for their retirement visa if using that method? another case of the left hand not knowing what the right is doing. Edited January 6, 2022 by phetphet 2 1 Link to comment Share on other sites More sharing options...
lopburi3 Posted January 6, 2022 Share Posted January 6, 2022 4 minutes ago, phetphet said: Won't this affect those sending 65,000 baht for their retirement visa if using that method? another case of the left hand not knowing what the right is doing. As said no effect if using the 3 banks listed - if not you just send 2 transfers (as I normally do anyhow). The 65k does not have to be in one transfer. 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted January 6, 2022 Share Posted January 6, 2022 1 hour ago, KhunBENQ said: What seems unclear to me: does it effect only services like WISE? It doesn't affect bank to bank (Wise isn't a bank) transfers, if that's what you're asking. 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted January 6, 2022 Share Posted January 6, 2022 46 minutes ago, Chivas said: 1 hour ago, KhunBENQ said: What seems unclear to me: does it effect only services like WISE? No...thats clearly (in my opinion) relating to all inbound transfers Doubtless some using swift etc etc can confirm or deny in the coming days "No...thats clearly (in my opinion) relating to all inbound transfers". Clearly, nonsense. Why would the Bank of Thailand instruct banks not to accept funds into Thai accounts that exceed about USD 1500? There are no such SWIFT limitations Link to comment Share on other sites More sharing options...
KhunBENQ Posted January 6, 2022 Share Posted January 6, 2022 Next question: what other limits could exist? (per week, month?). 1000 GBP transfer would cost 5.37 2000 GBP transfer would cost 9.94 For this example not too big a loss if doing two transfers. Link to comment Share on other sites More sharing options...
Chivas Posted January 6, 2022 Author Share Posted January 6, 2022 18 minutes ago, Liverpool Lou said: "No...thats clearly (in my opinion) relating to all inbound transfers". Clearly, nonsense. Why would the Bank of Thailand instruct banks not to accept funds into Thai accounts that exceed about USD 1500? There are no such SWIFT limitations lol well I suggest you actually read this time the bottom of the screenshot..................... Someone in the interim has sent me a PM saying that a £2350 transfer inititated via swift had been put on "hold" on the 4th January (in hindsight because his bank was not one of the listed three) Lets wait and see how it unfolds before you have a kneejerk reaction doubtless because your bank is not named Failing that start your own thread fella 1 2 1 Link to comment Share on other sites More sharing options...
JimmyJ Posted January 6, 2022 Share Posted January 6, 2022 1 hour ago, scubascuba3 said: Sounds like those 3 banks have effective AML procedures in place Satire? Allowing less than $1500 USD/transfer is "effective"? 1 Link to comment Share on other sites More sharing options...
Liverpool Lou Posted January 6, 2022 Share Posted January 6, 2022 (edited) 13 minutes ago, Chivas said: lol well I suggest you actually read this time the bottom of the screenshot..................... Someone in the interim has sent me a PM saying that a £2350 transfer inititated via swift had been put on "hold" on the 4th January (in hindsight because his bank was not one of the listed three) Lets wait and see how it unfolds before you have a kneejerk reaction doubtless because your bank is not named Failing that start your own thread fella That was not a kneejerk reaction. There are no inbound restrictions on normal SWIFT transfers, bank to bank/financial institutions, which is what SWIFT transfers relate to. My banks are irrelevant (but, sorry to disappoint you, included in those mentioned), as are anyone else's when SWIFT is being used. I don't use Wise as it is not a bank You do know what SWIFT is, yes? Fella. Edited January 6, 2022 by Liverpool Lou 2 Link to comment Share on other sites More sharing options...
Etaoin Shrdlu Posted January 6, 2022 Share Posted January 6, 2022 No issues with two SWIFT transfers this week from Chase in the US to Citibank Thailand. Both in USD and each well in excess of the equivalent of THB50,000. Link to comment Share on other sites More sharing options...
scubascuba3 Posted January 6, 2022 Share Posted January 6, 2022 1 hour ago, JimmyJ said: Satire? Allowing less than $1500 USD/transfer is "effective"? Yeah they have to choose a limit Link to comment Share on other sites More sharing options...
GrandPapillon Posted January 6, 2022 Share Posted January 6, 2022 just tried to do a small transfer, and yes that same notice did show up somehow my credit card company is now denying to pay Wise transfer, that's now new ???? 1 Link to comment Share on other sites More sharing options...
GrandPapillon Posted January 6, 2022 Share Posted January 6, 2022 1 hour ago, Etaoin Shrdlu said: No issues with two SWIFT transfers this week from Chase in the US to Citibank Thailand. Both in USD and each well in excess of the equivalent of THB50,000. I suspect some regulatory lobbyists working for SWIFT got their ways with "small payment" processors like WISE Link to comment Share on other sites More sharing options...
Greenwich Boy Posted January 6, 2022 Share Posted January 6, 2022 3 hours ago, Mang Gon said: 50,000 baht = $ 1493.21 USD todays rate Does anyone know how many transfers can be made daily/monthly to a bank? I got a similar email last year. I use CurrencyFair which is very similar to Wise. The gist of the mail was if you wish to send more than 50k, send it in multiples. It did not state a limit to the number of daily transactions but I have not tested it. 2 Link to comment Share on other sites More sharing options...
Greenwich Boy Posted January 6, 2022 Share Posted January 6, 2022 3 hours ago, KhunBENQ said: Wow, that now is an explanation why some posters reported this problem and others (like me) do not have a problem. Have three accounts at exactly these three. What seems unclear to me: does it effect only services like WISE? I got the same message from my provider in November. I use CurrencyFair which is similar to Wise. A summary of the mail was anything over 50k may have to do go via SWIFT and could take longer and be more expensive. Multiple transfers of less than 50k would be fine. Don't shoot the messenger here as I am not exactly sure what SWIFT is, just reporting what the mail said. 1 1 Link to comment Share on other sites More sharing options...
Popular Post Mutt Daeng Posted January 6, 2022 Popular Post Share Posted January 6, 2022 I've just received the following email from Wise. Hello XXXXXXXXXXXXXXXXXXXXXXXXXXXX, From 7 January, you’ll only be able to send 50,000 THB or more per transfer to the following banks: Bangkok Bank Public Company Kasikorn Bank Siam Commercial Bank This means that if you’re sending money to a recipient using any of those banks listed above, everything will work as usual. But, if your recipient uses another bank, you’ll have a new transfer limit. You can still send money to recipient accounts that use other banks, but you’ll only be allowed to send them up to 49,999 THB per transfer. There’s no limit on how many transfers you can create. This change will affect all transfers created after 1PM Bangkok time, on 7 January 2022. Please make sure you pay for your transfer on the same day. If you have any ongoing payments, don’t worry – we’ll complete your transfer if you send us the money until then. We're sorry that we're limiting our service for now. We're working with our partner to support larger transfers to all recipients in Thailand — we'll let you know as soon as that changes. Learn more about transfers to THB. Thanks, The Wise Team 5 1 Link to comment Share on other sites More sharing options...
Pib Posted January 6, 2022 Share Posted January 6, 2022 4 hours ago, lopburi3 said: This is Thailand specific. Wise has accounts at the three listed banks and makes payments to other banks in Thailand from those accounts. You can send any amount to BBL/SCB/K but to any other Thai Bank it must be below 50k for each transaction. What is not clear is if this is a general rule that Thai bank transfers must be less than 50k (which seems unlikely) or something special due to Wise systems of payment from local accounts not meeting paperwork requirements. Wise now uses SCB as one of there partner banks? You got a reference for that? Below Wise web page only refers to Bangkok Bank, Kaiskorn Bank, and DeeMoney as its partners in Thailand. This webpage talks get a FET/Credit Advice from the three financial companies/banks that Wise deals with...uses to complete Wise transfers. Wise also use to use TMB years ago but I don't think Wise and TMB (now TTB) have partnering relationship anymore. https://wise.com/help/articles/2932335/guide-to-thb-transfers?origin=search-thai+baht Link to comment Share on other sites More sharing options...
ukrules Posted January 6, 2022 Share Posted January 6, 2022 5 hours ago, KhunBENQ said: Wow, that now is an explanation why some posters reported this problem and others (like me) do not have a problem. Have three accounts at exactly these three. What seems unclear to me: does it effect only services like WISE? You think? Are people already having problems as it doesn't become active until tomorrow? Link to comment Share on other sites More sharing options...
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