Wise removes Long Stay Reason on Transfers

[brianthainess]

I don't use wise, so I presume you can not just put in the reason yourself ? When I transfer money from my banks (not US) to Thailand (swift) I put 'Sustenance', and ever since I have been putting that it seems to arrive in 48 hrs.

Edited 2 hours ago by brianthainess

[scubascuba3]

1 minute ago, brianthainess said:

I don't use wise, so I presume you can not just put in the reason yourself ? When I transfer money from my banks (not US) to Thailand (swift) I put 'Sustenance', and ever since I have been putting that it seems to arrive in 48 hrs.

Your Sustenance reason does nothing, next time try "Cobblers" and it will arrive in 48 houre

[DrJack54]

25 minutes ago, ThaiFelix said:

But its illegal for farang to buy property in Thailand? 

No. 

There are condo complex's that have a foreign ownership quota. 

Many foreigner's own their own condo.

[brianthainess]

5 minutes ago, scubascuba3 said:

Your Sustenance reason does nothing, next time try "Cobblers" and it will arrive in 48 houre

My shoes are fine thanks, are you related to Loopy Lue.

[jesimps]

9 hours ago, bastco said:

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.

I've been using "Personal expenses" for several years and it always appears in Bangkok Bank as "international Transfer". Not saying that it's the same for everyone, but it is the case for me.

[Dan O]

33 minutes ago, Liquorice said:

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.

WIse only uses 3 banks to do transfer into Thailand. If your bank is not one of the 3 then it gets the "domestic transfer code" as it does travel domestically from the inital bank to your bank.

[DrJack54]

10 minutes ago, Dan O said:

WIse only uses 3 banks to do transfer into Thailand. If your bank is not one of the 3 then it gets the "domestic transfer code" as it does travel domestically from the inital bank to your bank.

I use Kasikorn which is one of the 3 you mention.

Despite selecting "funds for long stay..."

I do not always have code for international transfer.

Necessary to obtain credit advice

[flexomike]

48 minutes ago, ThaiFelix said:

Type google and take your pick.

I know a lot of Farangs that legally own a Condo, unless you are not calling that property

[Liquorice]

31 minutes ago, KannikaP said:

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.

Wise have accounts with BKK and Kasinkorn at their HQ's.

Look at the Thai bank details you entered on your Wise account.
They required the SWIFT code of the bank, which only HQ branches have.

 

It can be almost instantaneous from making a transfer from my UK bank to Wise and receiving it in my Thai bank account.

[Liquorice]

33 minutes ago, Dan O said:

WIse only uses 3 banks to do transfer into Thailand. If your bank is not one of the 3 then it gets the "domestic transfer code" as it does travel domestically from the inital bank to your bank.

2 banks now, to my knowledge, they dropped the TMB bank.

If you use BKK and the transfer is made from Wise's BKK account, it will be coded international.
The same cannot be said if you have a Kasikorn account and the transfer is made from Wise's Kasikorn account, as @DrJack54 has pointed out.
In this case, you need to request a credit advice receipt.

[Liquorice]

51 minutes ago, DrJack54 said:

No. 

There are condo complex's that have a foreign ownership quota. 

Many foreigner's own their own condo.

Foreigners can also build and own the property via various methods, they just can't own the land.

[KannikaP]

49 minutes ago, Liquorice said:

2 banks now, to my knowledge, they dropped the TMB bank.

If you use BKK and the transfer is made from Wise's BKK account, it will be coded international.
The same cannot be said if you have a Kasikorn account and the transfer is made from Wise's Kasikorn account, as @DrJack54 has pointed out.
In this case, you need to request a credit advice receipt.

I have just done THB 1000 from my Wise THB balance to Bkk Bank Branch. Reason = living expenses. Arrived instantly (11 seconds) as a transfer from another bank. Cost Bht 44.76.

If I now try the same from my GBP or THB  balance and click Property Purchase, it will not arrive until 2pm on Monday, but it will be an FTT. Cost = Bht 50!

Edited 35 minutes ago by KannikaP

[KhunBENQ]

1 hour ago, jesimps said:

I've been using "Personal expenses" for several years and it always appears in Bangkok Bank as "international Transfer". Not saying that it's the same for everyone, but it is the case for me.

I had used Bangkok Bank for years with the long stay option.

I plan to change to Kasikorn from November.

So I did a test transfer with general expense (or how it is called in Englisch). Arrived in seconds and on the account statement (Thai language) it is clearly shown as foreign transaction.

On the book it is only shown as TRN (transfer no book?).

Hope that will not change and I will not miss the long stay option.

Edited 34 minutes ago by KhunBENQ

[Upnotover]

42 minutes ago, Liquorice said:

The same cannot be said if you have a Kasikorn account and the transfer is made from Wise's Kasikorn account, as @DrJack54 has pointed out.

I transfer from my Wise account each month to Kasikorn.  Irrespective of the reason given for the transfer it arrives in seconds from a Wise local Kasikorn account.  The bankbook will get "TRN" marked when it's updated.  However a statement, either downloaded myself of issued by a branch will show the transfers as either "Trade Finance Deposit" on an English statement or on a Thai statement "ธุรกรรมต่างประเทศ" = "Foreign Transactions".

[norbra]

20 minutes ago, Upnotover said:

I transfer from my Wise account each month to Kasikorn.  Irrespective of the reason given for the transfer it arrives in seconds from a Wise local Kasikorn account.  The bankbook will get "TRN" marked when it's updated.  However a statement, either downloaded myself of issued by a branch will show the transfers as either "Trade Finance Deposit" on an English statement or on a Thai statement "ธุรกรรมต่างประเทศ" = "Foreign Transactions".

That's interesting my Kasikorn passbook is coded GPS0000X. for my international deposits.

On asking counter staff at a branch about this code they advised that this is for international deposits.

I followed this up with their call centre who advised this is the payment channel (

Global Payment Services) they use. I asked for a hard copy similar to code index in passbook,but "cannot" was the reply

 

 

Edited 15 minutes ago by norbra

[Liquorice]

28 minutes ago, KannikaP said:

I have just done THB 1000 from my Wise THB balance to Bkk Bank Branch. Reason = living expenses. Arrived instantly (11 seconds) as a transfer from another bank. Cost Bht 44.76.

If I now try the same from my GBP or THB  balance and click Property Purchase, it will not arrive until 2pm on Monday, but it will be an FTT. Cost = Bht 50!

Topic isn't about how fast the transfers arrive.

 

For those that use the monthly overseas transfer method for income, it's providing proof it was a foreign transfer.

[KannikaP]

1 minute ago, Liquorice said:

Topic isn't about how fast the transfers arrive.

 

For those that use the monthly overseas transfer method for income, it's providing proof it was a foreign transfer.

And I am telling you, and others, that most Wise Transfers get here instantly as LOCAL transfers unless the Buying Property, and previously Long Stay, buttons were selected.  Then it takes until 14.03 the next WORKING day, hence Monday for my second transfer, and noted as an International Transfer with Bkk or Kasikorn. 

[Upnotover]

4 minutes ago, norbra said:

That's interesting my Kasikorn passbook is coded GPS0000X. for my international deposits.

Yes, mine too.  The TRN is under CODE in the passbook, I had not really paid attention to the TELLER NO. entry, I wonder why it's not listed in the back of the book.

[billd766]

7 hours 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 did a transfer from the UK last Friday 13 September 2024 using the funds for long term stay and it went through as normal. I will be doing 2 more tomorrow, Friday 20 September 2024 and I expect no problems.

 

IMHO, Wise is as reliable as ever, reasonably priced and I have been using them for over 5 years. Much cheaper than using a UK ATM or a UK bank transfer.

 

[Liquorice]

1 minute ago, KannikaP said:

And I am telling you, and others, that most Wise Transfers get here instantly as LOCAL transfers unless the Buying Property, and previously Long Stay, buttons were selected.  Then it takes until 14.03 the next WORKING day, hence Monday for my second transfer, and noted as an International Transfer with Bkk or Kasikorn. 

It's coded TRN in a Kasikorn passbook as others are noting in their posts.

 

Personally I use BKK and all overseas transfers are coded as FTT in the passbook, provided it was paid through Wises BKK account and not their Kasikorn account.

A friend uses Kasikorn, he usually gets the TRN code in his passbook, but his statements requested from HQ always state 'International' transfer.

 

Wise's object and main aim is to make transfers as speedily as possible.
If you're with BKK, the transfer could go through their Kasikorn account, or vice versa.
They cannot guarantee the payment will be made through their branch account corresponding to your bank.