Getting an FET for condo purchase using transfer from Wise account

[Orient Express]

I have an account with Wise in EUR, and wish to transfer money from that account to my Bangkok Bank THB account to pay for a condo. I visited Bangkok Bank HO to ask about how I can get the FET document with a Wise transfer. I was told not a problem, as long as the partner bank Wise uses for the transfer is Bangkok Bank.

 

I would have thought this was straightforward, but on contacting the Wise helpdesk, I have been told the following: “Unfortunately, as there are a lot of factors involved in this, we can't guarantee which partner bank will be used.”

 

Just frustrating. The real estate agent I’m using said they have had terrible problems in getting an FET when a different intermediary bank is used (presumably Kasikorn). Using Wise rather than SWIFT saves me about EUR 300 – 400.

 

Has anyone any experience of this or ideas about how to resolve it?

 

[lkn]

2 hours ago, Orient Express said:

Using Wise rather than SWIFT saves me about EUR 300 – 400

How did you calculate that amount?

 

When you receive more than ~$10,000 worth of money, most banks will give a better exchange rate than what is shown on their website.

 

[CMMCB]

I used a swift transfer from a uk bank in December as Wise recommended that. Watch out for the new tax situation from Jan 1st which could mean a large tax bill on such large transfers if you’re staying here over half the year. 

[scubascuba3]

8 hours ago, Orient Express said:

I have an account with Wise in EUR, and wish to transfer money from that account to my Bangkok Bank THB account to pay for a condo. I visited Bangkok Bank HO to ask about how I can get the FET document with a Wise transfer. I was told not a problem, as long as the partner bank Wise uses for the transfer is Bangkok Bank.

 

I would have thought this was straightforward, but on contacting the Wise helpdesk, I have been told the following: “Unfortunately, as there are a lot of factors involved in this, we can't guarantee which partner bank will be used.”

 

Just frustrating. The real estate agent I’m using said they have had terrible problems in getting an FET when a different intermediary bank is used (presumably Kasikorn). Using Wise rather than SWIFT saves me about EUR 300 – 400.

 

Has anyone any experience of this or ideas about how to resolve it?

 

You need to follow the correct process to get it processed as International, to Bangkok Bank and for "buying a property" or the usual "long term" option, i would send a small test amount first to ensure it's working ok. There is also a small risk that Wise have to use a different intermediary, if so it won't be shown as International, in that case you'd have to print the credit advice off and any other docs so Bangkok Bank will produce the letter. Wise max transfer 2m baht equiv 

[treetops]

All explained om the Wise website:

 

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