Wise - Funds for Long Term Stay - not there

[TroubleandGrumpy]

20 hours ago, lopburi3 said:

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.

Not how it works as far as I know and I have used Wise for years. Perhaps it works that way for Wise transfers from certain countries?? Please 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 income taxes who would love to know this - me too - please go right ahead and show us. 

[TroubleandGrumpy]

19 hours ago, scubascuba3 said:

Nope.

 

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

Please show me - you are the 3rd person to make that claim.  International transfers show in all 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 show us.

 

If Expats can transfer money into Thailand and it does not show in the Thai bank records as an international transfer, then most income tax issues are 'gone with the wind'.

[Moonlover]

5 minutes ago, TroubleandGrumpy said:

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. 

My Wise in-payments are ALWAYS marked as a domestic transfer on my Krungsri statements and many thousands of Wise users are aware  that this true for all none partners banks. Only the 3 partner banks will be marked up as an international transfer and apparently, even that is not always the case.

[TroubleandGrumpy]

4 minutes ago, Moonlover said:

My Wise in-payments are ALWAYS marked as a domestic transfer on my Krungsri statements and many thousands of Wise users are aware  that this true for all none partners banks. Only the 3 partner banks will be marked up as an international transfer and apparently, even that is not always the case.

I understand - Wise does have 3 'preferred' banks for transfers to Thailand - Bangkok, Siam Commercial and Kasikorn.  I am going to get an account from another bank and give it a try.

 

Probably best to keep quiet about this - TRD might be listening. 

[TroubleandGrumpy]

14 minutes ago, Moonlover said:

My Wise in-payments are ALWAYS marked as a domestic transfer on my Krungsri statements and many thousands of Wise users are aware  that this true for all none partners banks. Only the 3 partner banks will be marked up as an international transfer and apparently, even that is not always the case.

Bad News re income taxes.  I have just been advised that although the final transfer to the Krungsri bank is a 'local transfer' - the original transfer is international into a 'banking transfer pool' and is full recorded - both origin and destination - and that is available to the Thai Govt/TRD. That is why Wise 'recommends' those 3 banks - they can transfer direct to them and not incur the fees from the 'transfer pool' organisation/system.  I believe that BoT uses the 'BAHTNET' system for their transfers - not sure whether the other banks all use something similar, or if they have a few organisations they can use for receiving international banking transfers.  I would think this is one of the reasons why sometimes banking transfers take minutes and other times hours/days. 

[Moonlover]

14 minutes ago, TroubleandGrumpy said:

I have just been advised that although the final transfer to the Krungsri bank is a 'local transfer' - the original transfer is international into a 'banking transfer pool'

You need to go back and study how Wise operates. There is no 'original international transfer'. No money crosses borders. That's the whole ethos of the way they operate.

 

As far far taxation goes, that is well off topic.

[scubascuba3]

2 hours ago, TroubleandGrumpy said:

Please show me - you are the 3rd person to make that claim.  International transfers show in all 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 show us.

 

If Expats can transfer money into Thailand and it does not show in the Thai bank records as an international transfer, then most income tax issues are 'gone with the wind'.

We are talking about Wise here and not swift via foreign banks to thai banks. Fact those Wise reasons for transfer only relates to Bangkok Bank so only if you send to them and select the correct reason will it show as International