Transfer of funds from UK Bank to TTB Bank using WISE

[Smokey and the Bandit]

For the past few years I have been using WISE to transfer funds for general expenses from my UK account to my Thai  TTB (formerly TMB) using WISE.

I have never had a problem, the funds go thru in seconds usually and end up in my TTB account , via KBANK.(Kasikorn)

Yesterday i attempted to transfer funds and received a message from WISE....'We cannot send to this recipient, the recipient bank currently does not support cross border remittances'

 

So I contacted WISE and queries this, I received a message...

 

"I understand that you're trying to set up a transfer to your Thailand Bank TTB, but you received an error message enabling you to send transfer the funds.

Unfortunately TTB Bank (TMBThanachart Bank), is no longer supported due to payment system upgrades in Thailand.

However', you can transfer your funds to Thailand the the following  recipient banks: 

• Bangkok Bank Public Company

• Kasikorn Bank

• Krung Thai Bank

• Siam Commercial Bank

• CIMB Thai Bank

• Bank Of Ayudhya (Krungsri bank)

• Kiatnakin Phatra Bank"

 

TTB bank confirmed after May 6th they no longer accept WISE transfers due to new compliance requirements.

 

I just so happen to have a Bangkok Bank account which still does accept WISE transfers so its not really a problem, unless they change the rules.

So really 3 questions, if the funds are going into KBANK first then its sent locally to TTB why is this a cross border remittance?

Second will other Thai banks be changing their rules, I know that's a tough one but has anyone heard anything?

Thirdly what other platforms can be used to transfer funds to Thailand from the UK?

 

 

https://pbs.twimg.com/profile_images/1630843158387892224/S9qBPG_P_normal.png

due to new compliance requirements or a decision to restrict transactions from certain remittance platforms.

 

https://pbs.twimg.com/profile_images/1630843158387892224/S9qBPG_P_normal.png

 

[scubascuba3]

2+ threads on this already, long list of banks that Wise don't transfer to

[KhunBENQ]

Read through this:

 

[Smokey and the Bandit]

55 minutes ago, KhunBENQ said:

Read through this:

 

Thanks, looks like its the same issue!!

[Airwolf]

Same, Wise and TTB are trash.

[Everyman]

1 hour ago, Airwolf said:

Same, Wise and TTB are trash.

 

Wise is trash? They’ve been good for me. 

[Airwolf]

33 minutes ago, Everyman said:

 

Wise is trash? They’ve been good for me. 

No business debit card for my US account for the past few years, they don't deal in crypto and actively shut down accounts that do, no business loans, now now deposits to Thai banks. 

[NanLaew]

6 hours ago, Airwolf said:

No business debit card for my US account for the past few years, they don't deal in crypto and actively shut down accounts that do, no business loans, now now deposits to Thai banks. 

 

Correction, no deposits to SOME Thai banks. The following banks are still supported.

 

• Bangkok Bank Public Company

• Kasikorn Bank

• Krung Thai Bank

• Siam Commercial Bank

• CIMB Thai Bank

• Bank Of Ayudhya (Krungsri bank)

• Kiatnakin Phatra Bank"

 

[steve187]

9 hours ago, Airwolf said:

Same, Wise and TTB are trash.

harsh statement