Wise account opening

[kiko11]

That might be a stupid question, but tbh I'm not sure how to go on since I read  Wise is somehow restricted in Thailand.

I  opened an account by email, so far so good. 

1. To get it activated, I would need to send some money to my account first. Can I do this using my Thai bank account? 

2.  Or easier, since I expecting some funds to be transferred to my wise account, I give my email or phone number to the sender. Once I received the money, I can go on with wise and KYC and finally transfer to Thailand.

Any thoughts? Thank you.

[hotandsticky]

I believe that the first transfer in has to come from an account in your name.

[Tayida]

1) Cannot if your destination bank is not listed.

2) It's a solution 

 

[RupertIII]

My wife recently opened an a/c and used her VISA credit card to send the initial money. No problem.

If you don't have a Thai credit card try with a debit card.

Edited March 14, 2023 by RupertIII

[kiko11]

well,  I  just tried it with Krungthai bank and got the message:

 

Your card payment attempt was unsuccessful as your bank did not authorize the payment. Please try again and if the problem persists, contact your bank´s card payment department and ask them to allow card payments to Wise. Alternatively, you can fund this payment via another payment method or by using a different card.

[hotandsticky]

3 minutes ago, kiko11 said:

well,  I  just tried it with Krungthai bank and got the message:

 

Your card payment attempt was unsuccessful as your bank did not authorize the payment. Please try again and if the problem persists, contact your bank´s card payment department and ask them to allow card payments to Wise. Alternatively, you can fund this payment via another payment method or by using a different card.

That will be the reason then.

 

If Krungthai did not authorise card payment you may need to visit them......perhaps call their call centre first.

[kiko11]

I dunno, tried to transfer 880 Baht manually using international transfer, and the fee is 1500 Baht. A joke!!!! 

Couldn't I use DeeMoney instead...or is it just for sending? 

 

 

Edited March 14, 2023 by kiko11

[Stocky]

I signed up to Wise from Thailand sending money from an account in Singapore, doesn't need to be money from a Thai account. Just needs to be from an account in your name.

 

.

Edited March 14, 2023 by Stocky

[fdsa]

23 hours ago, kiko11 said:

I dunno, tried to transfer 880 Baht manually using international transfer, and the fee is 1500 Baht. A joke!!!! 

I've activated my account by paying with Thai debit card, the fee was 0 Baht

[kiko11]

5 hours ago, fdsa said:

I've activated my account by paying with Thai debit card, the fee was 0 Baht

You have to send to money to Brussels and Krungthai charges 1500 Baht for that service.

[fdsa]

20 hours ago, kiko11 said:

You have to send to money to Brussels and Krungthai charges 1500 Baht for that service.

Krung Thai does not charge anything when paying by card, you should have paid with your debit card instead of a wire transfer.

 

 

 

 

 

[Moonlover]

On 3/14/2023 at 1:50 PM, kiko11 said:

1. To get it activated, I would need to send some money to my account first. Can I do this using my Thai bank account? 

You really do seem to have got hold of 'the wrong end of the stick' Kiko. (I hope you understand that term)

 

Wise is used by it's Thai based clients to send money to Thailand, not from it. As you have discovered, Wise will not accept payments from a Thai bank. You make your deposit in your home currency (EUD, GBP. USD etc) and have it converted into THB for deposit in your Thai bank account.

 

In short, it's a one way street.

 

Some of the stuff I've read in this thread is a complete load of nonsense. Just follow the instructions on Wise's website and you'll be fine.

[KannikaP]

29 minutes ago, Moonlover said:

You really do seem to have got hold of 'the wrong end of the stick' Kiko. (I hope you understand that term)

 

Wise is used by it's Thai based clients to send money to Thailand, not from it. As you have discovered, Wise will not accept payments from a Thai bank. You make your deposit in your home currency (EUD, GBP. USD etc) and have it converted into THB for deposit in your Thai bank account.

 

In short, it's a one way street.

 

Some of the stuff I've read in this thread is a complete load of nonsense. Just follow the instructions on Wise's website and you'll be fine.

Not correct. I have a multi currency account/card from which I can send THB to my GBP account in UK.

However I cannot deposit THB from my Thai bank into the THB balance as there is no IBAN number for it.

Edited March 16, 2023 by KannikaP

[Moonlover]

53 minutes ago, KannikaP said:

However I cannot deposit THB from my Thai bank into the THB balance as there is no IBAN number for it.

I other words, I was correct!

 

''Wise will not accept payments from a Thai bank''.

 

[KannikaP]

11 hours ago, Moonlover said:

I other words, I was correct!

 

''Wise will not accept payments from a Thai bank''.

 

Partly.

[hotandsticky]

13 hours ago, KannikaP said:

Not correct. I have a multi currency account/card from which I can send THB to my GBP account in UK.

However I cannot deposit THB from my Thai bank into the THB balance as there is no IBAN number for it.

https://www.ibancalculator.com/

[KannikaP]

5 minutes ago, hotandsticky said:

https://www.ibancalculator.com/

What's this got to do with it please?

The THB account on my Wise card is in UK.

Edited March 17, 2023 by KannikaP

[hotandsticky]

9 minutes ago, KannikaP said:

What's this got to do with it please?

The THB account on my Wise card is in UK.

 

I thought that you were struggling with IBAN numbers..

[KannikaP]

Just now, hotandsticky said:

 

I thought that you were struggling with IBAN numbers..

No I am not. There is NO IBAN number available for the THB account on my Wise Multicurrency Card, so I cannot deposit directly to that account from any other source than my other Wise accounts.

Thanks for the thought.

[hotandsticky]

1 minute ago, KannikaP said:

No I am not. There is NO IBAN number available for the THB account on my Wise Multicurrency Card, so I cannot deposit directly to that account from any other source than my other Wise accounts.

Thanks for the thought.

You are welcome.

[sandyf]

20 minutes ago, KannikaP said:

The THB account on my Wise card is in UK.

You are to a certain extent embelishing the term "account", it is in fact only a currency balance as you have no account number or details, same as mine.

I also have a Turkish lira balance and for that I have domestic account details but no international account details.  For my USD and Euro balances I have both domestic and international account details which makes them pseudo accounts. The only true account is the home account. 

[sandyf]

17 minutes ago, KannikaP said:

No I am not. There is NO IBAN number available for the THB account on my Wise Multicurrency Card,

If there ever is an account number for your THB balance , it will not be IBAN. Thailand does not use IBAN and the number will be Swift and probably relating to a partner bank in Thailand.

[Moonlover]

51 minutes ago, KannikaP said:

What's this got to do with it please?

The THB account on my Wise card is in UK.

The THB  account in the UK is not a 'real currency' account at all. What occurs when you convert your GBP into THB is what's known in currency trading as a 'notional currency swap'. It's not a real exchange at all, it's just numbers in a computer.

 

Wise have fixed the 'notional value' of your GBP against the Baht until such times as you choose to send it to your account in Thailand, which may or may not be in your favour depending on how the markets move.

[JackGats]

I do not fully understand what's possible with Wise. If I manage to open and fund a Wise account in Thailand, can I use it to send money to Colombia? Let's assume the Colombian side is ok (I have a bank account in Colombia where Wise remittances are enabled).

[fdsa]

7 hours ago, JackGats said:

I do not fully understand what's possible with Wise. If I manage to open and fund a Wise account in Thailand, can I use it to send money to Colombia? Let's assume the Colombian side is ok (I have a bank account in Colombia where Wise remittances are enabled).

no, you need to use Deemoney or traditional bank wire transfer.

Wise is used to transfer money into Thailand, not remitting outside.