Retirement Visa 800k, does Wise transfer count as international transfer?

[MJCM]

17 minutes ago, KannikaP said:

Are you sending the 800k as a lump sum to put in the bank, or 65k per month?

Hey already send it before posting here

[TheLaughingMan]

35 minutes ago, ubonjoe said:

That will be accepted.

Not all banks use the FTT code in your bank book. Some use a different code. Look at the bottom of your bank book pages for the code used. Bangkok Bank has them on the last page.

Turns out I do have the FTT code in the bankbook on all the transfers

[scubascuba3]

1 hour ago, KannikaP said:

No it will not. Read the many many other posts regarding Wise.

Kasikorn doesn't use the reason for transfer, read up on it

[KannikaP]

24 minutes ago, scubascuba3 said:

Kasikorn doesn't use the reason for transfer, read up on it

But does it have a code to say that the funds came from abroad?

When sending to Bkk Bank and using the 'long term stay' option, it usually takes a day longer as an actual person has to verify this. Does Kasikorn not work the same way?

Edited November 8, 2022 by KannikaP

[Onerak]

4 hours ago, OJAS said:

So precisely what do you mean by "retirement visa"? Are you referring to an annual extension of stay for retirement? Or might you, in fact, be referring to the conversion of a tourist visa or visa-exempt entry to a real genuine McCoy non-immigrant visa of the "O" variety for retirement at your local immigration office? Proof of the foreign origin of the 800k in question in the form of a Wise statement, bank document or whatever is only needed in the case of the latter, not the former!

A conversion from TV/Visa exempt entry to Non-O visa (a requirement for retirement extension) requires you to prove the fund came from overseas. May be not for 5K agent assisted application (Pattaya rate from second hand information). The yearly extension for retirement does not require you to prove the fund origin. 

[scubascuba3]

19 minutes ago, KannikaP said:

But does it have a code to say that the funds came from abroad?

When sending to Bkk Bank and using the 'long term stay' option, it usually takes a day longer as an actual person has to verify this. Does Kasikorn not work the same way?

No Kasikorn doesn't work the same way, Kasikorn should still settle almost instantly, Wise has agreed with Kasikorn that Wise transfers will be treated as International, the code used should signify to Kasikorn that it's International except not all branches understand 

[KannikaP]

5 hours ago, steevjee said:

which you can download from the Wise app. this is where they get their evidence you transferred from OS rather than the bank

But DO NOT show the IO the second page of the Wise statement which says the money was transferred 'via Local Bank Transfer.'

[KannikaP]

3 minutes ago, scubascuba3 said:

No Kasikorn doesn't work the same way, Kasikorn should still settle almost instantly, Wise has agreed with Kasikorn that Wise transfers will be treated as International, the code used should signify to Kasikorn that it's International except not all branches understand 

Just hope that all IOs understand then.

[scubascuba3]

1 minute ago, KannikaP said:

Just hope that all IOs understand then.

Kasikorn is meant to produce a letter showing the International transfers

[KannikaP]

11 minutes ago, scubascuba3 said:

Kasikorn is meant to produce a letter showing the International transfers

But do they? Bkk Bnk shows FTT in your book and on statements, a lot more confidence.

[norbra]

20 minutes ago, scubascuba3 said:

Kasikorn is meant to produce a letter showing the International transfers

Kasikorn/ Wise transfers are coded. GPS (Global Payments Systems) in bankbook , don't know if Immi is aware that Wise are using this for fx transfers into Thailand.

 For Credit advice/receipt Kasikorn Trade Centre will email this on request but for those without a Kasikorn account must go to Trade branch with Wise receipt and bankbook 

Edited November 8, 2022 by norbra

[scubascuba3]

2 minutes ago, KannikaP said:

But do they? Bkk Bnk shows FTT in your book and on statements, a lot more confidence.

apparently yes based on reports I've read, but depends on branch

[scubascuba3]

Just now, norbra said:

Kasikorn/ Wise transfers are coded. GPS (Global Payments Systems) in bankbook , don't know if Immi is aware that Wise are using this for fx transfers into Thailand.

 For Credit advice/receipt Kasikorn Trade Centre will email this on request 

Best to avoid the immigration lottery so get Kasikorn to produce a letter of International transfers

[norbra]

10 minutes ago, scubascuba3 said:

Best to avoid the immigration lottery so get Kasikorn to produce a letter of International transfers

4 years ago, as a Kasikorn account holder ,a senior Immi officer told me Kasikorn credit advice/receipts will always be accepted so this has been my road to annual renewal without any problems.

[KannikaP]

27 minutes ago, scubascuba3 said:

Best to avoid the immigration lottery so get Kasikorn to produce a letter of International transfers

Or show your IO your Bkk Bank book & statement.

[KannikaP]

11 minutes ago, norbra said:

4 years ago, as a Kasikorn account holder ,a senior Immi officer told me Kasikorn credit advice/receipts will always be accepted so this has been my road to annual renewal without any problems.

As has my Bkk Bank book & statements

[norbra]

5 minutes ago, KannikaP said:

As has my Bkk Bank book & statements

How often do you visit your bank for pb updates for your precious FTT?

I go once a year at time of renewal end of story

[TheLaughingMan]

So long story short..(Im the OP) it was all for nothing.....lol, I do in fact have the correct FTT codes in my bankbook (from doing Wise transfer and NOT picking "long term stay" which leads me to believe Bangkok Bank now has an understanding with Wise and marks all their transfers FTT) so its all the proof required for immigration BUT because of a miscommunication with a certain somebody looking after my aunt I landed up paying up the 25k baht agency fee in Pattaya to get the 15 month visa as we had only 1 hour left to do it and the whole thing was a complete flustercuck.  If we didnt have 10 things going on at once we just would have taken my aunt out of the country for the day to give her time to let the 800k baht season in the bank for 2 months even though this is a huge hassle as shes got mild dementia and isnt terribly strong to travel.  This is extremely annoying that Pattaya is so corrupt they dont even follow the governments laws of not requiring 2 months to season the money for the Non-O visa application.  But whatever... amazing Thailand.

[KannikaP]

11 minutes ago, norbra said:

How often do you visit your bank for pb updates for your precious FTT?

I go once a year at time of renewal end of story

That will probably be no good as your passbook will be updated with 'consolidated' entries if you leave it a certain length of time or number of transactions, assuming that you are doing a monthly deposit.

If using the 800k method, I guess once a year is OK although your IO could ask you to prove that the balance was over the 800/400k limits., and you do not need to show that transfers are international in that case.

Luckily for me, there is a shop called Lotus (or Big C or Central), or a Bkk Bank branch which all have a passbook update machine.

Edited November 8, 2022 by KannikaP

[norbra]

6 minutes ago, KannikaP said:

That will probably be no good as your passbook will be updated with 'consolidated' entries if you leave it a certain length of time or number of transactions, assuming that you are doing a monthly deposit.

If using the 800k method, I guess once a year is OK although your IO could ask you to prove that the balance was over the 800/400k limits., and you do not need to show that transfers are international in that case.

Luckily for me, there is a shop called Lotus (or Big C or Central), or a Bkk Bank branch which all have a passbook update machine.

I update my book at time of extension renewal, Immigration only check that my statement is consolidated with my credit advice receipts and my pb balance is checked only against the bank letter.

[NoDisplayName]

4 hours ago, TheLaughingMan said:

Well, I did NOT choose "long term stay" in Wise and my Wise receipt indeed says local transfer, BUT in my bank statement it says "international transfer", surely the bank statement at Bangkok Bank will be enough proof to satisfy them?

 

At least with Bangkok Bank, you get what you get.  Sometimes any transfer for any reason gets the FTT, sometimes not.  The "long stay" transfer is most likely, but not guaranteed, to be listed.......by YOUR bank, in your bankbook as FTT. 

 

Doesn't really matter what Wise receipts show unless you're using them to prove on error at the receiving bank statement.  The IO's should never need to see Wise receipts.

 

All the IO needs is the passbook with FTT (or whatever code your bank uses) to indicate a foreign source, a guarantee letter showing the current balance, AND a bank letter confirming foreign sourced funds.  So that's TWO bank letters for the initial visa application.

 

And you mentioned "your" bankbook.  Did you send the money to your account or to your aunt's account?

Edited November 8, 2022 by NoDisplayName

[TheLaughingMan]

1 hour ago, NoDisplayName said:

 

At least with Bangkok Bank, you get what you get.  Sometimes any transfer for any reason gets the FTT, sometimes not.  The "long stay" transfer is most likely, but not guaranteed, to be listed.......by YOUR bank, in your bankbook as FTT. 

 

Doesn't really matter what Wise receipts show unless you're using them to prove on error at the receiving bank statement.  The IO's should never need to see Wise receipts.

 

All the IO needs is the passbook with FTT (or whatever code your bank uses) to indicate a foreign source, a guarantee letter showing the current balance, AND a bank letter confirming foreign sourced funds.  So that's TWO bank letters for the initial visa application.

 

And you mentioned "your" bankbook.  Did you send the money to your account or to your aunt's account?

My Aunts, Im just lazy when I type.

[scubascuba3]

9 hours ago, KannikaP said:

Or show your IO your Bkk Bank book & statement.

Not much help if you have a Kasikorn account, but i agree Bangkok Bank is the better option

[scubascuba3]

9 hours ago, TheLaughingMan said:

So long story short..(Im the OP) it was all for nothing.....lol, I do in fact have the correct FTT codes in my bankbook (from doing Wise transfer and NOT picking "long term stay" which leads me to believe Bangkok Bank now has an understanding with Wise and marks all their transfers FTT) so its all the proof required for immigration BUT because of a miscommunication with a certain somebody looking after my aunt I landed up paying up the 25k baht agency fee in Pattaya to get the 15 month visa as we had only 1 hour left to do it and the whole thing was a complete flustercuck.  If we didnt have 10 things going on at once we just would have taken my aunt out of the country for the day to give her time to let the 800k baht season in the bank for 2 months even though this is a huge hassle as shes got mild dementia and isnt terribly strong to travel.  This is extremely annoying that Pattaya is so corrupt they dont even follow the governments laws of not requiring 2 months to season the money for the Non-O visa application.  But whatever... amazing Thailand.

Yours settling International is strange, either you have Wise tagging going on or like you say they've changed their process but that's unlikely, you'll be able to tell if you check your transfers to see if they settled around 2pm

Edited November 8, 2022 by scubascuba3

[KhaoYai]

My Kasikorn statements show inbound Wise transfers as 'Trade Finance Deposit' - nothing at all about the transfer being international which I doubt would be acceptable - anyone else had this problem? How did you get around it?

[crazykopite]

I use wise all the time as all my income come from my home country you will have no problem for getting your letter of funds from abroad from your Thai bank anyway IO is not interested in where the money came from all they want to see is that you have 800+ k in your Thai bank 

[crazykopite]

10 minutes ago, KhaoYai said:

My Kasikorn statements show inbound Wise transfers as 'Trade Finance Deposit' - nothing at all about the transfer being international which I doubt would be acceptable - anyone else had this problem? How did you get around it?

Immigration are only interested that you have 800 k in your bank end of if you haven't got the required amount then they will knock you back 

[The Fat Controller]

Bangkok Bank transfers worked fine using "long stay" in the Wise menu and deposits showed as FTT.

However, it all went tits up around October 2021 and many people reported their money arriving as domestic.

Wise fixed it within a month.

If you use Facebook have a search for "Wise solution Thailand New"

[Soondae]

I use Wise for my monthly transfers, however I needed to transfer a large sum for a home purchase and Wise has limits on amounts and the fees are quite high on a large sum. I used Bank of America (United States) and did a wire transfer to SCB. The process took only 2 days, now then you have two options when performing the wire transfer. Option 1 is to have BOA perform the baht conversion prior to the wire transfer. This option is terrible as they will give a horrible exchange rate which will cost you lots of money. Option 2 is to have BOA to send the dollar amount and the wire fee was only $45. SCB called upon receipt and needed to know what the money was for (U.S. treasury law) and then the SCB bank employee told me the day's exchange rate that the money would be deposited at. It was the correct exchange rate for the day and there was no additional fees. So for large sums wire transfer is the most efficient means.

[norbra]

1 hour ago, KhaoYai said:

My Kasikorn statements show inbound Wise transfers as 'Trade Finance Deposit' - nothing at all about the transfer being international which I doubt would be acceptable - anyone else had this problem? How did you get around it?

Trade finance deposits are for international deposits only, I support my Kasikorn bank statement with credit advice receipts issued by Trade Finance,they will email these to you on request.Imm accept this for extension