Bangkok Bank statement doesn't show correct description for Wise transfers

[DrJack54]

@roquefort ...I just received a WISE transfer to my Kasikorn bank.

On Monday I'm going to my bank for update and to ask about credit advice as for my next extension, my plan is to use income method. 

 

Despite always selecting "long term stay" I have ever received FTT code. 

Update Monday. 

 

 

[lopburi3]

18 minutes ago, DrJack54 said:

@roquefort ...I just received a WISE transfer to my Kasikorn bank.

On Monday I'm going to my bank for update and to ask about credit advice as for my next extension, my plan is to use income method. 

 

Despite always selecting "long term stay" I have ever received FTT code. 

Update Monday. 

 

 

I don't believe Kasikorn uses FTT - that is only used by Bangkok Bank AFAIK.  Each bank seem to have their own codes for various things.  Normally a listing on last page of passbook.

[treetops]

Here's Wise's take on transfers to Thailand including their transfer partners, how it shows in BBL and KBank when received from abroad and how to get the evidence if the system fails, as it apparently has done.

 

There's a new one (to me) on there now detailing the process for transfers over 50K baht to SCB.

 

You may have to be logged in to see the page.

 

https://wise.com/help/articles/2932335/guide-to-thb-transfers

[Andycoops]

I always provide the 12 PDF receipts along with the bank 1 year statement.

 

You can download the PDF receipt from the Wise App in your account.

 

It's always been accepted at my IO without question.

[Drumbuie]

Despite transferring money from Wise to Bangkok Bank in exactly the same way, tagged as "Funds for Long Term Stay In Thailand", not all the transfers showed up as FTT. 

I went into my branch with a printed statement of the account, highlighting the transfers that weren't marked as FTT, with a separate list of the dates and amounts,  and asked for a letter confirming that these were foreign transfers.

The bank gave me a separate letter for each incorrectly labelled transfer which I handed to the immigration officer with the rest of the paperwork for my visa extension application ( due to retirement in my case).

[GypsyT]

WISE uses their own funds ALREADY in Thailand or they transfer their own funds and accounts.

 

That's why they can't give proof of customers money being transferred every time.

 

"To transfer a customer’s money, TransferWise uses their own accounts to do so. For instance, when sending money from Australia to Canada, the user will first transfer the money to TransferWise’s bank account in Australia. TransferWise then transfers the money from their Australian to their Canadian bank account. Afterwards, the money is transferred to the user’s bank account in Canada."

 

 

 

[sandyf]

20 hours ago, roquefort said:

I just got my annual statement from Bangkok Bank for renewal of my marriage visa extension. Some of my monthly transfers show the correct description "Foreign T/T" but other don't, even though I use the same method to send money from Wise each month. Wise have an option for "Funds for long term stay on Thailand" which I always use.

Is there any way to get Bangkok Bank to correct this as I suspect its going to cause an issue at immigration.

When I was doing marriage by income method I just downloaded the remittance advice for each transfer from my HSBC account.and attached them to the bank statement, not a problem with immigration.

I believe you can also download a remittance advice from your Wise account.

[AAArdvark]

13 hours ago, ABCDBKK said:

Not so. My X's name is Twyla and we won't be getting back together now, or in 20 years from now! 😤

5 years and I have never had a transfer in that was coded incorrectly using the option of "long term stay....." and deposited  into BBL. I sent up an automatic transfer with the correct option and every thing arrives within the same 1 or 2 days each month. I do verify my deposits every few months. 

Several people have mentioned " tagging" their account.  Just how is that done? 

[AAArdvark]

19 hours ago, Hokeus said:

It also depends on the amount of the transfer being sent to you from Wise. If you want it to arrive in your Thai account in seconds then the transfer amount must always be no more than 49,990 Baht. Anything over that amount often takes 1-2 days (sometimes longer if sent on a Thursday or Friday or over weekend) to complete the Wise transfer. 
 

So if you send an amount under 50,000 Baht, and it arrives in seconds, then it's most certainly come from a local partner bank. In those instances I don't see how the incoming transfer can ever be labeled as TT or FTT by your bank when the funds were physically transferred to your Thai account from another local bank. 

My transfers are always 100K. I saw that my transfers were taking a day or two so I contacted Wise and was promised that the amount had nothing to do with the transfer time. I do not believe them. In the good old days you could easily phone them and have a long detailed conversation in Estonia. 

[AAArdvark]

Thank you everyone for not calling it BKK bank. 

[TheAppletons]

12 minutes ago, AAArdvark said:

Several people have mentioned " tagging" their account.  Just how is that done? 

 

  Call Wise and ask the rep to do so.

 

  Some on this thread have misinterpreted "tagging" to mean that your funds are "tagged" to show as a foreign transfer.  

 

  When I posted "tagging" the account, it was intended to mean tagging it so that Wise only uses BBL to transfer my funds.  That way, I avoid the intermediary bank dance step that results in a domestic transfer from one Thai bank to another.  (Ergo, you still need to choose "funds for long term stay" when transferring via Wise.)

[lopburi3]

29 minutes ago, AAArdvark said:

5 years and I have never had a transfer in that was coded incorrectly using the option of "long term stay....." and deposited  into BBL. I sent up an automatic transfer with the correct option and every thing arrives within the same 1 or 2 days each month. I do verify my deposits every few months. 

Several people have mentioned " tagging" their account.  Just how is that done? 

You email and ask them to do explaining the need for such here in Thailand.  Before they had the -long stay in Thailand- option it was the only way to do and seems to be more reliable than just using that option.  

Edited January 13 by lopburi3

[treetops]

4 hours ago, lopburi3 said:

You email and ask them to do explaining the need for such here in Thailand.  Before they had the -long stay in Thailand- option it was the only way to do and seems to be more reliable than just using that option. 

I understand it was the manually implemented solution before they introduced the long stay option in the reason for transfer space.  No harm in having both.

[AjarnMartin]

On 1/12/2024 at 11:19 AM, roquefort said:

I just got my annual statement from Bangkok Bank for renewal of my marriage visa extension. Some of my monthly transfers show the correct description "Foreign T/T" but other don't, even though I use the same method to send money from Wise each month. Wise have an option for "Funds for long term stay on Thailand" which I always use.

Is there any way to get Bangkok Bank to correct this as I suspect its going to cause an issue at immigration.

Roquefort,

 

I have been a user of Wise, formerly known as TransferWise, for a number of years and whilst previously, I experienced my transfers mostly going directly to my assigned bank (Bangkok Bank), sometimes it arrived having been received as an International Transfer (TFF) via a host bank (in my case, Kasikorn Bank in Chiang Mai) where it was posted as a TFF and then forwarded as a Domestic Transfer to Bangkok Bank.

 

The reasons were many and various depending on the time of the transfer, the day of the transfer, national or religious bank holidays, etc.

 

I use the monthly income method of extending my Retirement Extn so it was critical for me to get the requisite copies of the Kasikorn transactions to show the origination of the TFFs, so I visited the local Kasikorn branch in Phetchabun, a month prior  to my Retirement extension, gave them copies of each of the Wise transfer receipts detailing the Kasikorn involvement, and they in turn produced an Annual statement for Immigration, which accompanied the Bangkok Bank annual declaration. There was a small charge for this but Phetchabun Immigration were satisfied with this.

 

As Wise has become more successful, I had no need to do this in 2023 because there were no instances of transfers going via alternative host banks so one letter from Bangkok Bank sufficed.

 

Just as a word of warning, there is a limited window to get the information from alternative banks so if you seek documentation for individual transactions within the year, they will become invalid as far as Thai Immigration is concerned - best to wait until a couple of weeks before your Immigration extension and get one letter to cover ALL diverted TFFs in the year.

 

Good Luck…🙏

 

[Hokeus]

21 hours ago, AAArdvark said:

My transfers are always 100K. I saw that my transfers were taking a day or two so I contacted Wise and was promised that the amount had nothing to do with the transfer time. I do not believe them. In the good old days you could easily phone them and have a long detailed conversation in Estonia. 

It is definitely the amount. Try doing any amount under 50,000. It will always arrive in seconds. The delay on larger amounts might have to do with anti money laundering controls in Thailand, but I'm not sure. 

[AAArdvark]

On 1/14/2024 at 5:59 AM, Hokeus said:

It is definitely the amount. Try doing any amount under 50,000. It will always arrive in seconds. The delay on larger amounts might have to do with anti money laundering controls in Thailand, but I'm not sure. 

I agree but why would they lie, may just ignorance.

[bamboozled]

On 1/12/2024 at 1:11 PM, Liquorice said:

You can also print the transfer receipts from your Wise account as proof of an overseas transfer, which many Immigration offices accept regardless of any coding in a passbook or statement.

Hi Liquorice...asking a question on one of your older threads. I'm about to go for my 1-year retirement extension and I am using the monthly transfer route for my proof of funds. My funds from abroad, via Wise, almost always show as a local transfer to my Kasikorn account. I had the same experience with Bangkok Bank account and when I talked with Wise on the phone (a year ago), they told me there was no way to guarantee them showing as foreign transfer. I know some folks have had other experiences.

 

Anyhow, my Wise receipts, along with the Thai bank receipts, were not accepted a year ago. Do you have knowledge of these Wise receipts (plus the Thai bank receipt/credit advise) now being accepted as proof the funds are from abroad? That sure would be helpful if so....

 

Many thanks, Bamboozled!

[KhunBENQ]

41 minutes ago, bamboozled said:

My funds from abroad, via Wise, almost always show as a local transfer to my Kasikorn account.

Just stumbled upon this revived thread.

I recently had started one about WISE and Kasikorn.

 

1) Bangkok Bank: for many years I transfer from WISE to Bangkok Bank using funds for long term stay as a purpose. Always shown as FTT in the book and much better as international funds transfer in the account statements,

 

2) Kasikorn Bank: I recently did a test from WISE to Kasikorn using general living expense as purpose. It arrives in seconds.

The book does NOT show a FTT or the like but just as TRN (transfer no book).
Account statement in English language shows "Trade Finance Deposit".

Not very obvious.

BUT: statement in Thai language clearly labels it as a foreign transaction.

 

Credit goes to @Upnotover

 

See here;

 

[bamboozled]

20 minutes ago, KhunBENQ said:

Just stumbled upon this revived thread.

I recently had started one about WISE and Kasikorn.

 

1) Bangkok Bank: for many years I transfer from WISE to Bangkok Bank using funds for long term stay as a purpose. Always shown as FTT in the book and much better as international funds transfer in the account statements,

 

2) Kasikorn Bank: I recently did a test from WISE to Kasikorn using general living expense as purpose. It arrives in seconds.

The book does NOT show a FTT or the like but just as TRN (transfer no book).
Account statement in English language shows "Trade Finance Deposit".

Not very obvious.

BUT: statement in Thai language clearly labels it as a foreign transaction.

 

Credit goes to @Upnotover

 

See here;

 

Thanks BENQ,

 

I don't have answers about why WISE works the way it does but I'm done with trying to figure it out. I've used Bangkok Bank and Kasikorn both and a few times I've gotten FTT transfers but there is no rhyme or reason and speaking with WISE on the phone they told me they could not guarantee FTT transfer no matter what. Yes, I know some folks get FTT all the time and have gotten it forever. I have a very close friend in this situation...gets FTT every time. But alas, I cannot and have given up on it. I'm hoping immigration will start to accept the Wise receipts plus my Thai bank paper trail. If not, hello agent. Or....I will try DTV. Thanks for your help!

Bam

 

 

 

[Rob Browder]

1 hour ago, bamboozled said:

speaking with WISE on the phone they told me they could not guarantee FTT transfer no matter what.

If that is the case, you have only 2 options - get "credit advice" statements for each case where your Wise xfer is not received "FTT" - OR - forget Wise, and wire-transfer from your foreign bank to a Thai bank which does not involve an "intermediary bank" in Thailand.  

[bamboozled]

44 minutes ago, Rob Browder said:

If that is the case, you have only 2 options - get "credit advice" statements for each case where your Wise xfer is not received "FTT" - OR - forget Wise, and wire-transfer from your foreign bank to a Thai bank which does not involve an "intermediary bank" in Thailand.  

Thanks for your input, Rob. There is another thread I started where BENQ showed me that if I download my Kasikorn bank statements in Thai language, they show the transfer as international. It's odd as on the Wise statement it shows "local" but I'm liking it!

 

 

And yes, you are very right. I could ditch Wise and just go wire transfer. A lot more expensive if I'm not mistaken. And it just irked me to spend that extra money when Wise was/is so much easier. Silly as in the end I could have ended up spending a lot more money if I had to use an agent. It could still turn out to be the case. I'm not always smart in the way I operate. That's the sad reality.