WISE - Any Questions Asked

[Neeranam]

I've just tried to transfer money from my WISE Euro account to be told there is a limit of 50,000 baht to Krung Thai bank.

Is it easy enough to do this on multiple days or is there a monthly limit?

Is there ever any blocks put on in regard to money laundering or tax avoidance?

Does it matter what reason I put for sending money? I put sending money home to family.

Edited June 15, 2023 by Neeranam

[Lacessit]

Krung Thai seems to be unique in this regard, I have not encountered any limit with Bangkok Bank or Kasikorn.

As far as sending money on sequential days goes, I suggest suck it and see.

I just put living expenses, the statement has never been questioned.

 

[foreverlomsak]

Just now, Lacessit said:

Krung Thai seems to be unique in this regard, I have not encountered any limit with Bangkok Bank or Kasikorn.

As far as sending money on sequential days goes, I suggest suck it and see.

I just put living expenses, the statement has never been questioned.

 

Bangkok Bank, Kasikorn and SCB are able to handle transfers of over 50,000 THB, there may be delays in the transaction to allow checks to be made.

Other banks are limited to 50,000 THB.

[KannikaP]

2 minutes ago, foreverlomsak said:

Bangkok Bank, Kasikorn and SCB are able to handle transfers of over 50,000 THB, there may be delays in the transaction to allow checks to be made.

Other banks are limited to 50,000 THB.

As has been said over and over again. Thanks

[Stocky]

11 minutes ago, Lacessit said:

Krung Thai seems to be unique in this regard

No, it applies to all Thai banks with the exception on Kasikorn, Bangkok Bank and SCB.

 

19 minutes ago, Neeranam said:

Is there ever any blocks put on in regard to money laundering or tax avoidance?

I expect there is a cumulative value point that will trip an alarm in the system somewhere.

 

.

Edited June 15, 2023 by Stocky

[lopburi3]

As said it is per transaction - you can do more than one.  BBL/K/SCB have much higher limits (2 million baht range per transaction from notice on Wise yesterday).

[Neeranam]

9 minutes ago, lopburi3 said:

As said it is per transaction - you can do more than one.  BBL/K/SCB have much higher limits (2 million baht range per transaction from notice on Wise yesterday).

I see, so I could do 49,999 10 times in a day?

 

[lopburi3]

Believe so - but have never tried.

[Moonlover]

11 minutes ago, Neeranam said:

I see, so I could do 49,999 10 times in a day?

 

I've tried that and it doesn't work! You need to go a few Baht below the 50k limit before they will accept it. Probably to allow for unexpected fluctuations.

[Chivas]

52 minutes ago, Lacessit said:

 

I just put living expenses, the statement has never been questioned.

 

Wont ever be questioned no matter what you put as its purely for audit control in the event of an investigation

 

Inotherwards "what did this character claim was the reason for the transfer" (when he was in fact money laundering etc)

[Lacessit]

17 minutes ago, Chivas said:

Wont ever be questioned no matter what you put as its purely for audit control in the event of an investigation

 

Inotherwards "what did this character claim was the reason for the transfer" (when he was in fact money laundering etc)

IIRC USD or AUD 10,000 seems to be the amount above which red flags are raised. Although I have made telegraphic transfers for more than that, but not through WISE.

I'm not a money launderer. although I once was asked by the ATO ( IRS to Americans ) if I had a bank account in Andorra. Where they got that from I have no idea, had to use Google maps to find it.

[KhunBENQ]

As above.

It still seems true that higher amounts can only be transferred to SCB, Kasikorn and Bangkok Bank.

Notice from WISE:

 

Edited June 15, 2023 by KhunBENQ

[KannikaP]

2 hours ago, Neeranam said:

Does it matter what reason I put for sending money? I put sending money home to family.

As has been said many many times before, if you need the transfer to show in your Thai bank as a foreign transfer for Immigration purposes, then tick the appropriate box....long term stay....and it will take one day longer to reach your Thai bank.

Wises' partner banks can receive Bht 2M if needed.

[Neeranam]

23 minutes ago, KannikaP said:

As has been said many many times before, if you need the transfer to show in your Thai bank as a foreign transfer for Immigration purposes, then tick the appropriate box....long term stay....and it will take one day longer to reach your Thai bank.

Wises' partner banks can receive Bht 2M if needed.

I don't need to show immigration anything -  more for tax reasons

Edited June 15, 2023 by Neeranam

[AAArdvark]

Try putting it into a Wise Baht account and then into your bank account in los

[lopburi3]

There is no crypto involved - Wise is a local account money going into another local account - just like when you transfer between accounts at the same Thai bank - instantly completed.

Edited June 15, 2023 by Pink Mist
Reply to removed post

[Pink Mist]

Reported posts delving off-topic and into crypto currency use have been removed.

[KannikaP]

4 hours ago, AAArdvark said:

Try putting it into a Wise Baht account and then into your bank account in los

It doesn't really matter whether a transfer comes from say a Wise GBP or THB account . It's roughly the same.

However, you can keep an eye on the GPB/THB rate and convert when it is favourable as today it went over 44. You can also set up auto-convert instructions to execute as and when you specify.

[RanongCat]

Before same limit  was on Bangkok Bank and others. Now gone Never have explanation  to why  but  seem suggest was Thai Govt.

Mybe change to  non sketchy Bank?

[thailand49]

It has been a while but there was I remember a reason. I'm with Bangkok Bank so I can can do

more than the 50.

They do have a time limit I remember it to be something for example if you wire 50,000 baht and it gets into your account at 4pm,  after midnight you will be able to another transaction. 

I use living expense all the time never had s problem. Good luck 

 

[fceligoj]

Other than BBL, SCB, and Kasikorn, this limitation has been in force for at least a year.  It actually states it in the WISE application as such.  So, if you read the detail content of the app, you would have seen this limitation.

[bbi1]

On 6/15/2023 at 2:19 PM, foreverlomsak said:

Bangkok Bank, Kasikorn and SCB are able to handle transfers of over 50,000 THB, there may be delays in the transaction to allow checks to be made.

Other banks are limited to 50,000 THB.

 

On 6/15/2023 at 2:26 PM, Stocky said:

No, it applies to all Thai banks with the exception on Kasikorn, Bangkok Bank and SCB.

 

I expect there is a cumulative value point that will trip an alarm in the system somewhere.

 

.

What is the reason for the 50k limit on all banks except the above 3? Why are Bangkok Bank, Kasikorn and SCB exempt from this?

[lopburi3]

15 minutes ago, bbi1 said:

 

What is the reason for the 50k limit on all banks except the above 3? Why are Bangkok Bank, Kasikorn and SCB exempt from this?

Suspect because same bank transfer - Wise has accounts at these banks they can use for payments.