KBank blocked WISE

[Freddy42OZ]

I've been using my KBank virtual visa card to send cash to someone in the UK using WISE many times over the past few years. 

However since last week my cards are no longer being accepted.  

WISE said the cards are blocked.  

I called KBank today and they told me that WISE is now blocked because the bank can't determine where the money you are sending came from and why you are sending it. 
 

[ukrules]

7 hours ago, Freddy42OZ said:

I called KBank today and they told me that WISE is now blocked because the bank can't determine where the money you are sending came from and why you are sending it.

 

That's nuts, why do they care?

[Yumthai]

5 hours ago, ukrules said:

That's nuts, why do they care?

More and more country and global regulations pressure banks and financial institutions. Globalist/socialist states strive to gather the maximum of data especially financial assets from individuals in order to control and keep milking them efficiently.

[hotsun]

I havent used wise much lately. With all the posts im seeing about it id expect that next time i want to send they wont let me

[hotandsticky]

1 minute ago, hotsun said:

I havent used wise much lately. With all the posts im seeing about it id expect that next time i want to send they wont let me

 

 

Why on earth would you think that?

 

 

This is about K Bank......... not WISE.

[hotandsticky]

6 hours ago, ukrules said:

 

That's nuts, why do they care?

 

 

MLR

[hotsun]

Just now, hotandsticky said:

 

 

Why on earth would you think that?

Ive noticed US people encounter more problems, i just wouldnt be surprised if it happens. Wise seems to be on the downtrend

[hotandsticky]

2 minutes ago, hotsun said:

Ive noticed US people encounter more problems, i just wouldnt be surprised if it happens. Wise seems to be on the downtrend

 

 

Rubbish.

 

WISE are excellent.

[ChaiyaTH]

Meaning there was an exploit from Kbank when using virtual cards, and you used them for purposes they not had in mind. A normal transfer is no issue at all.

 

The thing is that a lot of money laundering and dodgy activities or hacked money is taking advantage of EMI providers like Wise etc using virtual cards from all kinds of names and company formations, causing it usually to be cancelled over time while new companies start offering it again.

 

I guess they make enough customers and money to always start offering it but then need to stop it as soon they get too many fraud flags due to compliance etc. It's the same with crypto + debit cards, it is one after another company starting and ceasing to exist within 2 years (and while they exist they are perfectly fine to use, it is not as if you lose funds, they just need to stop offering it always).

 

Now the latest offering this again is the Bybit exchange, I am supposed to get a real card soon aside from a virtual mastercard one. Then the question is for how many months it will work before it is cancelled again.

[KhunBENQ]

25 minutes ago, hotandsticky said:

 

 

Why on earth would you think that?

 

 

This is about K Bank......... not WISE.

And it's about sending money TO UK using a KBank virtual credit card.

Quite different from "mainstream" sending money to Thailand.

And I always thought it's still another task to send Thai Baht to another country?

 

WISE works flawlessly for me.

Did my monthly transfer ("for long term stay") to Bangkok Bank just this week.

Arrived next day 2 PM as usual.

Yesterday I did a test to KBank ("for personal expense") and it arrived in 7 seconds.

 

[CallumWK]

14 hours ago, Freddy42OZ said:

I've been using my KBank virtual visa card to send cash to someone in the UK using WISE many times over the past few years. 

 

Since when can you use Wise to transfer money OUT of Thailand?

[gamb00ler]

26 minutes ago, CallumWK said:

 

Since when can you use Wise to transfer money OUT of Thailand?

I think WISE wasn't directly transferring money out of Thailand.

 

I assume the OP was disguising his transfer by using a VISA/MasterCard debit card to fund a WISE multi-currency account.  Then the OP would transfer from that WISE account to UK.

 

It was a rather ingenious tactic best suited for small transfers. 

[CallumWK]

7 minutes ago, gamb00ler said:

I think WISE wasn't directly transferring money out of Thailand.

 

I assume the OP was disguising his transfer by using a VISA/MasterCard debit card to fund a WISE multi-currency account.  Then the OP would transfer from that WISE account to UK.

 

It was a rather ingenious tactic best suited for small transfers. 

 

I'm sure Wise can see that the card is registered to a Thai based bank account.

So it is it a loophole Kasikorn has closed now?