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?

[hotandsticky]

1 hour ago, CallumWK said:

 

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?

 

 

I didn't think that WISE could receive Thai Baht - and you can't 'link' a card to a Thai bank account?  

 

 

Which currencies can I add, keep and receive in my Wise account?

Adding money

You can add money to your account in these currencies: AUD, BGN, BRL*, CAD, CNY*, CHF, CZK, DKK, EUR, GBP, HKD*, HUF, IDR*, JPY, MYR*, NOK, NZD, PHP*, PLN, RON, SEK, SGD, TRY and USD.

*BRL: you need to be a Brazilian tax resident to add money in BRL

*CNY: only if you're eligible to send money from CNY

*IDR: can be used to top up any balance except IDR

*HKD: only if your registered address is not in Hong Kong

*MYR: only customers with an address in Malaysia can add MYR directly to their MYR balance

*PHP: only customers with an address in the Philippines can add PHP directly to their PHP balance

Holding money

You can keep 40+ currencies in your account, and convert money between any of them with the mid-market exchange rate.

Receiving money

You can receive money by bank transfer from other people in these currencies using account details.

Currency	Receive locally	Receive with Swift
AUD, CAD, EUR, GBP, HUF, NZD, SGD, USD	Yes	Yes
BGN, CHF, CZK, CNY, ZAR, UGX, AED, ILS, DKK, HKD, JPY, NOK, SEK	No	Yes
PLN, RON	Yes* (restricted)	Yes
MYR	Yes* (restricted)	No
TRY	Yes*	No

Note that some customers can't receive payments in some currencies:

• MYR from any bank account in Malaysia (only available if you're a resident in Malaysia and only supported for personal accounts)

• PLN from any bank account in Poland (we’ve had to stop users from getting PLN account details for now while we make improvements; if you have them already, you can keep using them as normal)

• RON local account details can receive from any bank account in Romania (only available if you’re a resident in the EEA, Switzerland, the US, Canada, Australia, or Japan)

• TRY is only available for customers not residing in Türkiye

• USD local account details are not available everywhere. Check if you can get USD details

Note: You can receive multiple different currencies to your GBP Swift/global account details: GBP, EUR, USD, AED, AUD, BGN, CAD, CHF, CZK, CNY, DKK, HKD, HUF, ILS, JPY, NOK, NZD, PLN, SEK, RON, SGD, UGX and ZAR.

Check where you can receive from and the latest fees

Learn more about using your GBP account details to receive SWIFT payments

To receive money from other people in these currencies, just open a balance in the currency you’re being paid in and give the account details to your friends, company or customers.

 

 

 

 

 

 

https://wise.com/help/articles/2897238/which-currencies-can-i-add-keep-and-receive-in-my-wise-account

[baansgr]

Cash is king...y'all want your location and spending habits available to whoever requests it...only one look at china we can see where this ends 

[baansgr]

3 hours ago, hotandsticky said:

 

 

Rubbish.

 

WISE are excellent.

They are but charges have increased a lot the last year, especially on smaller transactions 

[hotandsticky]

Just now, baansgr said:

They are but charges have increased a lot the last year, especially on smaller transactions 

 

 

Still cheaper than using an international bank transfer.

 

I accept that there are other viable options to WISE but I am not going hunting to save a few Quid when WISE has worked well for me for the last 10+ years.

[treetops]

5 hours ago, gamb00ler said:

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.

 

You've been able to fund Wise transfers for a while using a Thai bank debit card and I mentioned it in a thread last year but then got shot down as it's effectively a way to transfer out of Thailand using Wise which everyone knows is impossible.  It certainly was possible albeit an expensive way to do it.  No need to use the multi-currency account either just the process as described here using the Thai card to fund the transfer and the bank sees (saw) it the same as an overseas cash withdrawal or purchase.

 

https://aseannow.com/topic/1329579-best-way-to-transfer-money-out-of-thailand/#comment-18991305