Wise - Funds for Long Term Stay - not there

[ouagadougou]

Hi,

 

Recently tried to send money through Wise and the option "Funds for Long Term Stay" is no longer available.

 

What's the best way to increase chances of the transfer being recorded as coming from overseas?

 

Thank you

 

[a3tsw]

it is now , just checked..

[ouagadougou]

Still not there for me.  Might depend on which country you're transferring from .... no idea.

 

 

[lopburi3]

1 hour ago, ouagadougou said:

Hi,

 

Recently tried to send money through Wise and the option "Funds for Long Term Stay" is no longer available.

 

What's the best way to increase chances of the transfer being recorded as coming from overseas?

 

Thank you

 

Perhaps you needed to scroll down a bit?  In any case if you use BBL there is an option to have Wise flag you account to use that bank for payment every time.  Not guaranteed but have not seen any report of not doing so for those that have accounts flagged.  In worse case you can obtain paperwork from local bank paying to prove foreign origin for immigration use.

[TroubleandGrumpy]

I believe that all overseas transfers from Wise are shown as international transfers in the Thai bank book. Maybe try a small amount for each one and see what happens? 

[ouagadougou]

9 minutes ago, lopburi3 said:

Perhaps you needed to scroll down a bit?  In any case if you use BBL there is an option to have Wise flag you account to use that bank for payment every time.  Not guaranteed but have not seen any report of not doing so for those that have accounts flagged.  In worse case you can obtain paperwork from local bank paying to prove foreign origin for immigration use.

Yes, usually there are more options and you have to scroll down ..... not today for some reason.

[billd766]

1 hour ago, ouagadougou said:

Hi,

 

Recently tried to send money through Wise and the option "Funds for Long Term Stay" is no longer available.

 

What's the best way to increase chances of the transfer being recorded as coming from overseas?

 

Thank you

 

It was there on Friday afternoon 15th March 2024 around 5:30 pm (at least for me).

 

I had to scroll down to the bottom of the list to find it.

 

It shows on my Bangkok bank bankbook as an FTT and on the bank statements as an international transfer.

[billd766]

16 minutes ago, ouagadougou said:

Still not there for me.  Might depend on which country you're transferring from .... no idea.

 

 

I transfer from my Wise Borderless account in the UK.

[ouagadougou]

2 minutes ago, billd766 said:

I transfer from my Wise Borderless account in the UK.

I'm transferring from Canada.  They apparently changed some things.  There are fewer options to choose from and some have changed.

[mfd101]

10 minutes ago, ouagadougou said:

I'm transferring from Canada.  They apparently changed some things.  There are fewer options to choose from and some have changed.

So you need to ring or email Wise in Canada. Is it a change or just a glitch ... ?

[Moonlover]

21 minutes ago, TroubleandGrumpy said:

I believe that all overseas transfers from Wise are shown as international transfers in the Thai bank book. Maybe try a small amount for each one and see what happens? 

This is the most misleading and ill-informed answer I've seen on this subject for a long time.

 

Fortunately, most people are aware that it's complete rubbish.

[lopburi3]

25 minutes ago, TroubleandGrumpy said:

I believe that all overseas transfers from Wise are shown as international transfers in the Thai bank book. Maybe try a small amount for each one and see what happens? 

Wise pays using a local baht account - not with an international transfer.  Bank paying is aware that funds are credited from an overseas account and can confirm this - but most transfers will be listed as a local bank payment on destination account passbook unless payment made by Wise account in the same bank.

[scubascuba3]

1 hour ago, TroubleandGrumpy said:

I believe that all overseas transfers from Wise are shown as international transfers in the Thai bank book. Maybe try a small amount for each one and see what happens? 

Nope.

 

Perhaps Op isn't using Bangkok Bank and that's why

[ouagadougou]

1 hour ago, mfd101 said:

So you need to ring or email Wise in Canada. Is it a change or just a glitch ... ?

Doesn't seem like a glitch as other people seem to get the usual drop down list while i get fewer & different options.

[NoDisplayName]

Try  "Ctrl -" to reduce the screen display size.

The final item on the list should appear.

[TheAppletons]

1 hour ago, ouagadougou said:

Doesn't seem like a glitch as other people seem to get the usual drop down list while i get fewer & different options.

 

  It's disappeared from my drop down list also.  It's no longer an option on either the mobile app or the desktop version.  

[ouagadougou]

Solved

 

I went ahead and completed the transaction.  First step was to choose reason for transfer ..... as depicted in my screenshot above.  After that I was prompted with a few more additional questions regarding annual income, source, approx total amount of yearly transfers etc.  Then I was asked once again to choose the reason for the transfer .... which returned to the usual list of options including Funds for Long Term Stay.

 

Thanks everyone

 

 

[TheAppletons]

1 hour ago, ouagadougou said:

Solved

 

I went ahead and completed the transaction.  First step was to choose reason for transfer ..... as depicted in my screenshot above.  After that I was prompted with a few more additional questions regarding annual income, source, approx total amount of yearly transfers etc.  Then I was asked once again to choose the reason for the transfer .... which returned to the usual list of options including Funds for Long Term Stay.

 

Thanks everyone

 

 

 

  So what reason did you select for the "first step" you mentioned above?  (I don't see a screenshot.)

[ouagadougou]

3 minutes ago, TheAppletons said:

 

  So what reason did you select for the "first step" you mentioned above?  (I don't see a screenshot.)

I chose General Monthly Living Expenses the first time i was asked for purpose of transfer.

 

Wise seems to be updating customer info.  I assume everything goes back to normal once you answer the additional questions and complete a transaction. 

[HugoFastor]

I just tested it. I tried it using 5,000 Thai Baht already in my Wise account and then sending to an account at a bank in Thailand and it says "Funds for Long Term Stay" as the last option on the list. 
 

I then tested it by sending some Japanese Yen in my Wise account to a Thai Baht account in Thailand and the options were all very different.  
 

So if you are trying to transfer using a different currency then I suggest you convert the funds to Thai Baht first within your Wise account so that the money is in Baht. Then try sending Baht and the "Funds for Long Term Stay" should be an available option. If you are trying to transfer USD, CAD, GBP, or EUR to a Thai bank account then the options might be different. So just convert the money to Baht within your Wise account first and everything should be right as rain. 

[mfd101]

I had a similar experience with Wise Australia about 2 or 3 weeks ago. When I pressed the Funds for long stay in TH button, nothing happened & I couldn't get it to work. So I reported the glitch to Wise via the problem-reporting item, and it was fixed in 2 hours. They specifically said it was a problem at their end.

[billd766]

2 hours ago, Moonlover said:

I answered your post in error. My apologies.

 

45 minutes ago, ouagadougou said:

Solved

 

I went ahead and completed the transaction.  First step was to choose reason for transfer ..... as depicted in my screenshot above.  After that I was prompted with a few more additional questions regarding annual income, source, approx total amount of yearly transfers etc.  Then I was asked once again to choose the reason for the transfer .... which returned to the usual list of options including Funds for Long Term Stay.

 

Thanks everyone

 

 

Good for you.

[NoDisplayName]

3 hours ago, ouagadougou said:

...I was prompted with a few more additional questions regarding annual income, source, approx total amount of yearly transfers etc.....

 

I got that same questionnaire last week.  I was sending money TO Wise, and it was taking longer than expected to receive an email notification of receipt.  When I logged in, I got a message that the incoming transmission was suspended, and that I had to answer a few questions to have it released.

[TheAppletons]

2 hours ago, NoDisplayName said:

When I logged in, I got a message that the incoming transmission was suspended, and that I had to answer a few questions to have it released.

 

  When you think about it, that's absolute tripe.

 

  Their business model is to transfer your money - refusing to do what you pay them to do unless you answer a customer service survey is unsatisfactory.

[ABCDBKK]

5 hours ago, TheAppletons said:

 

  When you think about it, that's absolute tripe.

 

  Their business model is to transfer your money - refusing to do what you pay them to do unless you answer a customer service survey is unsatisfactory.

What they are doing is called called "know your customer" procedures, also known as KYC. All KYC are just simply anti-money laundering procedures. Also, Wise is a financial services company registered in Belgium. So they operate under European banking law. Because of that, they can ask you anything they want about your personal finances, and, if you question their invasive means and methods, they will say that they're just complying with European banking rules. Your other option is to just close your account and stop doing business with them.

[Celsius]

I am in Canada and I get this option 

[HugoFastor]

10 minutes ago, Celsius said:

I am in Canada and I get this option 

As I explained earlier, it's simply a matter of which currency you are sending. If you send Thai Baht from your Wise account to a Thai Bank then you will get the "Funds for Long Term Stay" option. If you try and send any other currency from Wise to a Thai bank account then you don't get the option.

[Celsius]

3 minutes ago, HugoFastor said:

As I explained earlier, it's simply a matter of which currency you are sending. If you send Thai Baht from your Wise account to a Thai Bank then you will get the "Funds for Long Term Stay" option. If you try and send any other currency from Wise to a Thai bank account then you don't get the option.

 

No, because I choose Canadian currency to be transferred to THB

[lopburi3]

6 hours ago, HugoFastor said:

As I explained earlier, it's simply a matter of which currency you are sending. If you send Thai Baht from your Wise account to a Thai Bank then you will get the "Funds for Long Term Stay" option. If you try and send any other currency from Wise to a Thai bank account then you don't get the option.

You do not send - they pay from a local Thai baht account - and in Thailand the payment is Thai baht.  And you do get the option when sending USD from a US bank account - automatically converted to Thai Baht - not just if sending from a Wise account.

[TroubleandGrumpy]

20 hours ago, Moonlover said:

This is the most misleading and ill-informed answer I've seen on this subject for a long time.

 

Fortunately, most people are aware that it's complete rubbish.

Show me - prove it to us all.  International transfers show in Thai bank books/accounts - the reason does not necessarily do so - but the source of the money does. Prove that wrong - please. There are lots of worried people about incxome taxes who would love to know this - me too - please go right ahead and show us.