Proving 65K monthly transfers from abroad when using Wise

[foreverlomsak]

Am considering moving from money in the bank to monthly income, am concerned about proving the foreign funding of same.

Many times I have sent over funds to Bangkok Bank using Wise, using the pulldown menu to indicate "Long Term Stay", about half the time it does not show as FTT, the last time it was identified as TRD (Transfer from other account).

I believe to satisfy Immigration I would need to utilize the following steps

1. If book (and hence statement) shows FTT no further action required

2. If no FTT, then I need to get a Credit Advice note from Bangkok Bank

2A. If shows on the Credit Advice as FTT no further action required

2B. If shows comes from a different Thai bank, then I would need to approach that bank for a Credit Advice, then follow steps 2A and 2B, again as often as necessary.

Is this about right?

[amexpat]

I can't advise about those steps because in my years of using Wise to Bangkok bank I have never had that problem. 

But maybe ask Wise what is going on? 

[Thaifish]

I had same issue with Bangkok Bank book not displaying FTT. Contacted wise via e-mail and explained I had been using the drop down menu clicking Long Term Stay and that it was a Visa requirement to show transaction as a FTT. Wise made a note on my account to only transfer to Bangkok Bank which since doing so maybe 2 years ago it has worked fine. If funds are sent to another Thai bank which can happen and then transfered to your bank (BKK Bank) it shows as a Inter Bank Transfer not FTT

[foreverlomsak]

1 minute ago, Thaifish said:

Contacted wise via e-mail and explained I had been using the drop down menu clicking Long Term Stay and that it was a Visa requirement to show transaction as a FTT. Wise made a note on my account to only transfer to Bangkok Bank which since doing so maybe 2 years ago it has worked fine

will try this thanks

[KannikaP]

Exactly the same for me, only ONCE in 5 years has a transfer gone via Kasikorn instead of Bkk Bank because of a Bank holiday weekend, or Bkk Bank had run out of GBP.

Credit Advice from K'korn took a week, but now I know how to do it so no more worries.

And to confirm my previous posts about it, my IO will accept the Combination Method where I have Bht 400k in the bank and transfer Bht 40k monthly, totalling Bht880. 

[DPKANKAN]

You just ask the bank to do an annual statement showing monthly income and include copies of your monthly statements for irritation.

[Scott424]

I use credit advices to prove my international transfers (Hua Hin immigration prefer this method), I would suggest as a safeguard to go into Bangkok Bank and ask to receive credit advices each month via email, that way you will get them and can use them if any of your transfers do not show as FTT.

[foreverlomsak]

10 hours ago, Scott424 said:

I use credit advices to prove my international transfers (Hua Hin immigration prefer this method), I would suggest as a safeguard to go into Bangkok Bank and ask to receive credit advices each month via email, that way you will get them and can use them if any of your transfers do not show as FTT.

Good plan, I just hope my Bangkok Bank branch is up to the job and that my Immigration will accept the advices printed off e-mail and not insist on bank issued notes showing the Bank stamp.

[brianburi]

I take it from your name you are from Lomsak in Phetchabun??

Unless things have changed Phetchabun Imm Off will only accept 800K Baht in the bank option for extensions on retirement.

When we all used Phitsanulok Imm all was fine.  Problems started at Phetch when the Brit Embassy stopped our proof of income letters for the Combo method 

I tried to switch over from retirement to a marriage extension using the 40K a month income from UK, a big flat refusal......

I like many other expats I know in Phetch use the services of an agent.

Please keep us informed,  thx.......

 

Just as a side note Phetchabun are still fining people for TM30 issues....

[rocketboy2]

9 minutes ago, brianburi said:

I take it from your name you are from Lomsak in Phetchabun??

Unless things have changed Phetchabun Imm Off will only accept 800K Baht in the bank option for extensions on retirement.

When we all used Phitsanulok Imm all was fine.  Problems started at Phetch when the Brit Embassy stopped our proof of income letters for the Combo method 

I tried to switch over from retirement to a marriage extension using the 40K a month income from UK, a big flat refusal......

I like many other expats I know in Phetch use the services of an agent.

Please keep us informed,  thx.......

 

Just as a side note Phetchabun are still fining people for TM30 issues....

One more example of an Immigration office just being nasty.

shame on them.

[foreverlomsak]

11 minutes ago, brianburi said:

I take it from your name you are from Lomsak in Phetchabun??

Unless things have changed Phetchabun Imm Off will only accept 800K Baht in the bank option for extensions on retirement.

When we all used Phitsanulok Imm all was fine.  Problems started at Phetch when the Brit Embassy stopped our proof of income letters for the Combo method 

I tried to switch over from retirement to a marriage extension using the 40K a month income from UK, a big flat refusal......

I like many other expats I know in Phetch use the services of an agent.

Please keep us informed,  thx.......

 

Just as a side note Phetchabun are still fining people for TM30 issues....

Have heard before about the combo method, but first I've heard about not accepting income route.

TM30 will have to ensure I only stay in places that don't report your arrival.

[lopburi3]

11 hours ago, Scott424 said:

I use credit advices to prove my international transfers (Hua Hin immigration prefer this method), I would suggest as a safeguard to go into Bangkok Bank and ask to receive credit advices each month via email, that way you will get them and can use them if any of your transfers do not show as FTT.

Credit advices is from bank of payment - if Bangkok Bank account is used for payment it will be FTT.  If a payment is not marked FTT use Wise receipt to determine bank making payment in Thailand and get credit advice from them.

 

As said above it is best to have your account marked for all payment by Bangkok Bank at Wise to avoid issues.

[foreverlomsak]

2 minutes ago, lopburi3 said:

As said above it is best to have your account marked for all payment by Bangkok Bank at Wise to avoid issues.

I think I remember of somebody that said he had approached Wise to do this and was informed that even though they could mark your account there was no guarantee that Wise wouldn't use an intermediary bank.

[lopburi3]

16 minutes ago, foreverlomsak said:

I think I remember of somebody that said he had approached Wise to do this and was informed that even though they could mark your account there was no guarantee that Wise wouldn't use an intermediary bank.

Is there ever any guarantee in life - yes it could happen but not likely - and if it does a Wise statement might be accepted by immigration - if not a credit advise from the paying bank would be required - so even in worst case a recoverable condition.

[KhunBENQ]

As written above.

Since years I send EUR to Bangkok Bank account with WISE. I specify it for long term stay in Thailand. Always comes as FTT with no exception.

Can take until next afternoon for the money being in account.

(if sent early morning it will be same afternoon)

[Red Phoenix]

When you use WISE to transfer the funds every month at approx same date (as required by some Imm Offices), you do not have the benefit of choosing the 'right time' to do so when THB exchange rate is favorable for you. 

But you could open a WISE Multi-Currency Account in THB, and transfer funds to that account when the exchange rate is favorable, and then use that MC account at a fixed monthly date (the funds will be tansferred in seconds when doing so). 

The one thing I don't know is when using that method whether it allows you to get access to  evidence proving the foreign origins of those funds transfers.  Can somebody enlighten me on that possible issue?

 

 

[foreverlomsak]

33 minutes ago, KhunBENQ said:

As written above.

Since years I send EUR to Bangkok Bank account with WISE. I specify it for long term stay in Thailand. Always comes as FTT with no exception.

Can take until next afternoon for the money being in account.

(if sent early morning it will be same afternoon)

1 day as apposed to 1 minute is not a problem.

Just trawled through the bank books all the exceptions to FTT are for sums in the 30K range.

A previous poster in this topic stated that my Immigration office will not accept anything other than 800k in the bank for a retirement extension, not sure where to go now with this except maybe a visit to Immigration. 

[foreverlomsak]

3 minutes ago, Red Phoenix said:

The one thing I don't know is when using that method whether it allows you to get access to  evidence proving the foreign origins of those funds transfers.  Can somebody enlighten me on that possible issue?

Wise always issue the money in THB, therefore getting a Credit Advice from the receiving bank should not be any different.

[KhunLA]

1 minute ago, foreverlomsak said:

Wise always issue the money in THB, therefore getting a Credit Advice from the receiving bank should not be any different.

IF it shows as an inter'l transfer.  I believe Wise keeps their exchange rate better by using local banks.

[bbko]

1 hour ago, foreverlomsak said:

I think I remember of somebody that said he had approached Wise to do this and was informed that even though they could mark your account there was no guarantee that Wise wouldn't use an intermediary bank.

A couple of years ago when I did a Wise transfer from the US to my Bangkok Bank for "Long Term Stay in Thailand" purpose, one transferred came from Kasikorn (no FTT in my BKK bankbook), and I had to go to Kasikorn (International Trade Center branch) and they were able to print me a letter showing it was an international transfer.  After that I sent Wise an email asking them to "tag" my transfers to only use Bangkok Bank, since then no problems.

 

Email transcript;

"Hello, I'm a US citizen living in Thailand and was wondering how can I add a tag so my future THB transfers are only routed through Bangkok Bank?" Thanks for reaching out and apologies for the late reply. I have added the necessary tags for your future THB transfers to be routed through Bangkok Bank.  Do note however that this has been applied only to your existing THB recipients- so if you would like this to be applied to a different THB account in the future, do reach out again to us and we'll be more than happy to help you with it again????  I would also like to inform that though we try to always route with your preferred payment partner, this tagging does not work 100% of the time as sometimes the partner itself has issues with paying out so we end up using another payout partner.  Please let me know if you have further queries and I'd be happy to help. Have a lovely weekend.  Kind regards,

[lopburi3]

7 minutes ago, foreverlomsak said:

Wise always issue the money in THB, therefore getting a Credit Advice from the receiving bank should not be any different.

Only the Thai paying bank has proof of international origin - they pay in local baht transfer - so a different final bank would list it as a local transfer in baht.

[foreverlomsak]

33 minutes ago, bbko said:

and I had to go to Kasikorn (International Trade Center branch) and they were able to print me a letter showing it was an international transfer. 

so I if I read correctly for me that would entail

a 7 hour bus journey to Bangkok

trip across Bangkok to the Kasikorn ITC (wherever that is and ITC sounds too much like Immigration IDC for my liking)

obtain the offending letter

back across Bangkok to the bus station

a 5/6 hour return journey, depending on Bangkok traffic

 

and if I took the advantage of staying a night or 2, would probably F@#$ up my TM30 as well.

 

brilliant

[hotandsticky]

57 minutes ago, foreverlomsak said:

Wise always issue the money in THB, therefore getting a Credit Advice from the receiving bank should not be any different.

WISE don't transfer Baht. Their agent in Thailand does  -  hence making it a domestic transfer.

[foreverlomsak]

2 minutes ago, hotandsticky said:

WISE don't transfer Baht. Their agent in Thailand does  -  hence making it a domestic transfer.

OK, pedantically, Wise take your GBP (or other currency) calculate how much you are to get and advise/instruct their Thai agent (Bangkok Bank, Kasikorn, or whatever) to send XX,XXX THB to your account, unless you specifically request that no conversion be done before arrival in your account (eg Foreign Currency Account).

[hotandsticky]

33 minutes ago, foreverlomsak said:

OK, pedantically, Wise take your GBP (or other currency) calculate how much you are to get and advise/instruct their Thai agent (Bangkok Bank, Kasikorn, or whatever) to send XX,XXX THB to your account, unless you specifically request that no conversion be done before arrival in your account (eg Foreign Currency Account).

Accuracy is not pedantry.

 

You cannot request conversion. WISE will remit the currency you hold to a bank account of your choice.....that bank account denomination (Thai Baht, US Dollars etc) will determine what currency you receive.

[bbko]

48 minutes ago, foreverlomsak said:

so I if I read correctly for me that would entail

a 7 hour bus journey to Bangkok

trip across Bangkok to the Kasikorn ITC (wherever that is and ITC sounds too much like Immigration IDC for my liking)

obtain the offending letter

back across Bangkok to the bus station

a 5/6 hour return journey, depending on Bangkok traffic

 

and if I took the advantage of staying a night or 2, would probably F@#$ up my TM30 as well.

 

brilliant

Two options, go to the nearest Kasikorn bank near you and ask if they can help (I've heard some people say they were able to get the letter from their local branch, or use the attached link to locate the nearest International Trade Center near you, but the link doesn't list all, as the one I went to here in Pattaya isn't on their website. 

 

https://www.kasikornbank.com/en/branch/Pages/result.aspx?q=dummy&option=6&lat=13.724599&lng=100.6331106

[BritTim]

3 hours ago, foreverlomsak said:

I think I remember of somebody that said he had approached Wise to do this and was informed that even though they could mark your account there was no guarantee that Wise wouldn't use an intermediary bank.

That is true, but it has been rare for transfers to use an intermediary bank once you ask for direct transfers. Having to deal with that for a single transfer every couple of years would be bearable.

[GypsyT]

May I ask this;

if somebody uses 65k a month for visa can that money be taken out? Or has it to be kept in the account for certain time? If so, how long?

 

[BritTim]

1 minute ago, GypsyT said:

May I ask this;

if somebody uses 65k a month for visa can that money be taken out? Or has it to be kept in the account for certain time? If so, how long?

You are expected to use that money. There is no need to keep the money in the bank. They just want to see you regularly bringing the money into Thailand. Their main concern is that you are illegally earning money in Thailand.

[GypsyT]

Great news ???? Thanks.