Wise removes Long Stay Reason on Transfers

[bastco]

I just processed a transfer via Wise and had to use personal expenses as the reason as they have removed the Long Stay in Thailand. It looks like there will be problems with some transfers showing as domestic not international.

[scubascuba3]

A bit more detail required. From US?

[Captor]

And what payment method??

[lamyai3]

I did a Wise transfer from UK three days ago and funds for long term stay in Thailand was still there at the bottom of the list. 

[BrandonJT]

Already widely discussed on Facebook groups.  Wise has said to use the option for purchasing property if you want it to show as international.

[scubascuba3]

21 minutes ago, BrandonJT said:

Already widely discussed on Facebook groups.  Wise has said to use the option for purchasing property if you want it to show as international.

US?

[arick]

It doesn't matter where your income comes from. 

[Korat Kiwi]

I believe there has been bigger delays for people whose funds come from the USA. That's possibly what Scuba is trying to ascertain. 

[bastco]

2 hours ago, scubascuba3 said:

A bit more detail required. From US?

From anywhere.

[bastco]

2 hours ago, Captor said:

And what payment method??

By any of the methods offered by Wise when you select "send" .

[bastco]

1 hour ago, lamyai3 said:

I did a Wise transfer from UK three days ago and funds for long term stay in Thailand was still there at the bottom of the list. 

I would suggest it is not there now.

[Upnotover]

5 minutes ago, bastco said:

I would suggest it is not there now.

It's certainly gone from my app (UK based).  Last one on the list now is "other"

[Mutt Daeng]

Yes, just tried it now. No option for long stay.

 

[Mutt Daeng]

Just now, Upnotover said:

It's certainly gone from my app (UK based).  Last one on the list now is "other"

Just beat me to it.

[MarkBR]

If you use other, I wonder whether this may be flagged for further investigation.  Sorry, just being paranoid.

[mikebell]

I am about to send my usual 5K UKP this weekend.  I usually put personal expenses.  Kicking myself that I didn't do it before sterling slid back against the mighty baht.

[KannikaP]

2 hours ago, Captor said:

And what payment method??

Does it really matter what method you use to get your USD/GDB/EUR into your Wise account?

Once it's in there, you can either convert it there and then into say THB if the rate is better/good and send it as THB to THB, or let Wise convert it on the day you send it. 

The cost is roughly the same.

So now we must put for Buying Property instead of Long Term Stay?

Edited September 20 by KannikaP

[scubascuba3]

48 minutes ago, Mutt Daeng said:

Yes, just tried it now. No option for long stay.

 

"Property purchase" works for Bangkok Bank so it shows as International

[mfd101]

I did a transfer from Aus$ on Wednesday and the Long Stay reason had disappeared, much to my alarm. Then I realized I was already well over the 65K฿ minimum so not to worry for this month at least.

 

So I decided on 'Rent or other property expenses' just to see what would happen - and it came out as foreign origin as usual in my BKK bank account.

Edited September 20 by mfd101

[Man Mart]

I emailed Wise yesterday about the difficulties and implications posed by their actions and requested them to reinstate the relevant phrase on their list. They have asked me to be patient whilst their team investigates the matter. The more people that complain to Wise to reinforce our concerns the better. It is not just  visa issues, but why should Thailand based clients be asked to tell “porkies” concerning purchase of property which may not be the legitimate reason behind any transfer in order to record an FTT transaction!

[Captor]

37 minutes ago, KannikaP said:

Does it really matter what method you use to get your USD/GDB/EUR into your Wise account?

Once it's in there, you can either convert it there and then into say THB if the rate is better/good and send it as THB to THB, or let Wise convert it on the day you send it. 

The cost is roughly the same.

So now we must put for Buying Property instead of Long Term Stay?

Are we talking about wise ACCOUNT? I was thinking it's about transfers. I transfer money all the time without having a wise ACCOUNT were I can park money. And different options comes up with different payment methods. But I am not if different reasons comes up. Hence my question.

[ThaiFelix]

3 hours ago, BrandonJT said:

Already widely discussed on Facebook groups.  Wise has said to use the option for purchasing property if you want it to show as international.

But its illegal for farang to buy property in Thailand?  Might be all fine and dandy today but 6 months down the road you got the entire Thai S.W.A.T. kicking your door down searching for this illegaly obtained property.  Id want to check a bit further before I pressed that button.

[Liquorice]

1 hour ago, Man Mart said:

I emailed Wise yesterday about the difficulties and implications posed by their actions and requested them to reinstate the relevant phrase on their list. They have asked me to be patient whilst their team investigates the matter. The more people that complain to Wise to reinforce our concerns the better. It is not just  visa issues, but why should Thailand based clients be asked to tell “porkies” concerning purchase of property which may not be the legitimate reason behind any transfer in order to record an FTT transaction!

The problem has always been how Thai banks handle overseas transfers, which is out of Wise's control.

 

Bank branches do not have SWIFT codes, only the HQ branches do.

Irrespective of how you make a transfer, the funds will always go through the HQ's first, who then transfer it to your local branch.

 

Bangkok bank are the only bank that inform the branch it was 'International' hence getting an FTT (Foreign Telex Transfer) code in the passbook.

With other banks, such as Kasikorn and SCB it's usually coded as a 'domestic' or 'local' transfer in the passbook and you need to request a 'credit advice receipt' as evidence of an International transfer. If you request a 12-month statement from the HQ's though, they should state 'International' for the transfers.

[KannikaP]

1 hour ago, Captor said:

Are we talking about wise ACCOUNT? I was thinking it's about transfers. I transfer money all the time without having a wise ACCOUNT were I can park money. And different options comes up with different payment methods. But I am not if different reasons comes up. Hence my question.

You MUST have a Wise account and Customer number to be able to transfer funds and out in various currencies.

You do not have to keep a balance in any of them, but I think it would be better if you did.

Edited September 20 by KannikaP

[Liquorice]

2 minutes ago, ThaiFelix said:

But its illegal for farang to buy property in Thailand? 

Since when?

Link to that source of information please

[Liquorice]

1 minute ago, KannikaP said:

You MUST have a Wise account to be able to transfer funds and out in various currencies.

There are multiple methods to transfer funds overseas.

Not everyone has to provide evidence of monthly overseas transfers.

[KannikaP]

1 minute ago, Liquorice said:

There are multiple methods to transfer funds overseas.

Not everyone has to provide evidence of monthly overseas transfers.

I was answering Captor, who said that he did not have a Wise ASCOUNT as such.

And answering this post of yours, you're rather stating the obvious.

[ThaiFelix]

14 minutes ago, Liquorice said:

Since when?

Link to that source of information please

Type google and take your pick.

[scubascuba3]

19 minutes ago, ThaiFelix said:

But its illegal for farang to buy property in Thailand?  Might be all fine and dandy today but 6 months down the road you got the entire Thai S.W.A.T. kicking your door down searching for this illegaly obtained property.  Id want to check a bit further before I pressed that button.

You need to do some more research 

[KannikaP]

20 minutes ago, Liquorice said:

Bank branches do not have SWIFT codes, only the HQ branches do.

Irrespective of how you make a transfer, the funds will always go through the HQ's first, who then transfer it to your local branch.

So if you do a Wise transfer, and it arrives immediately, has it gone through the SWIFT process at Bank HQ before it arrives in your Branch account. I think not.

Previously (for the past 7 years), clicking Long Stay or Property Purchase added one day onto the transfer time, most other options were instant.