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Wise transfer imposes 50K limit to Thailand


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Hi, 

Transfer Wise has imposed amount limit on funds transfer to Thailand (except 3 major banks listed below).

 

My bank is affected and to send a large amount, one must send in multiple smaller amounts which means more fees and hassle. 

 

Just wanted to know if you are affected? What will you do going forward? Would you just change bank, change transfer transfer method, accept the additional hassle and inflated fees associated with multiple transfers to satisfy the new requirement or what else?

 

 

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3 minutes ago, Danny Australia said:

change transfer transfer method

Try OzForex, I've used them for over 10 years, sent varying amounts up to £10k no problem. Bought 90000 Baht yesterday, in my account this lunchtime. The transfers from their correspondent bank in Thailand show up in my BKK bank account as 'BTN', so it might not suit those who have to show the payments as foreign income for immigration purposes.

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Many of us use the banks that have no such limit so not an issue.  As far as fees it will not be that much more to send several transfers for most people as most Wise fees are amount transferred based rather than event based.   And my understanding is this is not a Wise issue but a Thailand issue.  As for hassle have not found using Wise to be a hassle at all and normally make 2 transfers as pay from two US bank accounts.

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25 minutes ago, Eff1n2ret said:

show up in my BKK bank account

Bangkok Bank isn't one of those for which restrictions apply.

 

The email I had from Wise said "We're working with our partner to support larger transfers to all recipients in Thailand" in the meantime I'll transfer to my Kasikorn account rather than Krungsri. 

 

As said above it's not a Wise problem, rather it's an issue with some Thai banks, most likely something to do with anti money laundering measures. No doubt it will be resolved at some point.

 

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Edited by Stocky
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Fees won't be a problem as mentioned above. If too much of a hassle open another bank account, easy enough. i first heard about the change about a week ago

Edited by scubascuba3
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9 minutes ago, scubascuba3 said:

Fees won't be a problem as mentioned above. If too much of a hassle open another bank account, easy enough. i first heard about the change about a week ago

I use the income method for my extensions so I don't intend to switch banks midstream. Too much hassle and extra paperwork. I worked out that it will cost me 91p extra to send 2 transfers instead of 1, so it's no big deal.

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