Wise - UK to Thailand Money Transfers (formerly Transferwise)

nomad97

nomad97

Resident Geek
Wow! Something has changed with the service provided by Transferwise/Bangkok Bank. Previously, when I initiated a transfer of funds from the UK to Thailand the money always arrived in Thailand the following day. In fact, it always arrived a few minutes after 14.00, never earlier and seldom later. Last Friday and again today, I initiated a transfer of funds from the UK to Thailand and the money was in my Bangkok Bank account within minutes of making the transfer. I am impressed.
 
Nomad, if you are using your transfers to support your 65000 baht a month visa method, make sure you select the transfer to Thailand option when you select reason for transfer.
I understand that unless you do, it will not show as an international receipt into your bank
 
ColinW said:
Nomad, if you are using your transfers to support your 65000 baht a month visa method, make sure you select the transfer to Thailand option when you select reason for transfer.
I understand that unless you do, it will not show as an international receipt into your bank
Click to expand...

I usually state the money is for monthly living expenses. Previously, all these transfers from the UK have been shown as International Transfers. I am unable to confirm that is still the case as I am having difficulties logging on to Bangkok Bank today. I think their computer system is very slow and keeps timing out. I will try later and get back to you.

Just logged on. You are right!

upload_2019-9-16_17-13-21.png

I notice that they changed the wording back in June. Up until then it said International Transfer. Whoops! I may have some explaining to do. More hoops to jump through. Thanks for the heads up.
 
ColinW said:
Nomad, if you are using your transfers to support your 65000 baht a month visa method, make sure you select the transfer to Thailand option when you select reason for transfer.
I understand that unless you do, it will not show as an international receipt into your bank
Click to expand...


Thanks Colin. - mine show as “cheque/money transfer”.
 
I just checked my deposits from overseas for the last three months: all are detailed as "Service Channel" - INTERNATIONAL TRADE AND FACTORING CENTER

That is Kasikorn Bank.
 
I should have made clear I was referring to receipts into my Bangkok Bank Account
For anyone that has the time there is a group on Facebook called Transferwise Solutions
 
nomad97 said:
I usually state the money is for monthly living expenses. Previously, all these transfers from the UK have been shown as International Transfers. I am unable to confirm that is still the case as I am having difficulties logging on to Bangkok Bank today. I think their computer system is very slow and keeps timing out. I will try later and get back to you.

Just logged on. You are right!

View attachment 30295

I notice that they changed the wording back in June. Up until then it said International Transfer. Whoops! I may have some explaining to do. More hoops to jump through. Thanks for the heads up.
Click to expand...

I bought this issue up some time ago if you remember Nomad. I even asked to see copies of your transactions. At the time, my queries were dismissed by other members as not relevant or something similar, seems I was right all along.
 
Wombat said:
I bought this issue up some time ago if you remember Nomad. I even asked to see copies of your transactions. At the time, my queries were dismissed by other members as not relevant or something similar seems I was right all along.
Click to expand...

Since using Transferwise for the past couple of years, Bangkok Bank had listed each transfer as an International transfer, up until June this year that is. Something has changed. I am still using the same procedure I had always used. So either the Bangkok Bank or Transferwise has changed. A possibility that comes to mind is that Transferwise is now transferring money to the Bangkok Bank in London. This may explain why the transfers are now almost instantaneous and why they are no longer listed as an International transfer. I will have to examine my options, as mentioned by Colin, next time I transfer money.
 
nomad97 said:
Since using Transferwise for the past couple of years, Bangkok Bank had listed each transfer as an International transfer, up until June this year that is. Something has changed. I am still using the same procedure I had always used. So either the Bangkok Bank or Transferwise has changed. A possibility that comes to mind is that Transferwise is now transferring money to the Bangkok Bank in London. This may explain why the transfers are now almost instantaneous and why they are no longer listed as an International transfer. I will have to examine my options, as mentioned by Colin, next time I transfer money.
Click to expand...
If you go to the Transfer Wise Facebook page there is a discussion about this problem now. TW are saying they have no control over certain aspects of the exchange, by that, they mean it ia an automatic system that sometimes uses Kasikorn Bank as part of the process. It is very complicated for my small brain. My friend Richard Smith who lives here is asking the same questions about not showing up as international transfers.
I'm glad I'm getting out of here, I'm damn sick and tired of worrying about all the obstacles.
 
I have not looked at their FB page - it was so straight forward before. I guess I will have to start looking further into it.
 
Luckily, it is possible to download a bank statement from Transferwise for the entire year. I have just download mine from 1 January 2019. It lists all the £ Sterling transfers I have made. It is also possible to copy the history file for the same period and that shows all transfers made in Thai baht. I will take these with me when I next seek an extension to stay in Thailand for a further year. I can use these statements to support my Bangkok Bank statement.
 
nomad97 said:
Luckily, it is possible to download a bank statement from Transferwise for the entire year. I have just download mine from 1 January 2019. It lists all the £ Sterling transfers I have made. It is also possible to copy the history file for the same period and that shows all transfers made in Thai baht. I will take these with me when I next seek an extension to stay in Thailand for a further year. I can use these statements to support my Bangkok Bank statement.
Click to expand...


That will work if Immigration want it to work.
 
nomad97 said:
And if it doesn't, Savannakhet here we come!
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If I was married I would choose that option first - mainly because my travels suit the Non O Visa. Also, I am not transferring 65,000 Baht (at current exchange rates) when I am not in Thailand.
 
It seems that many countries [particularly corrupt countries] want a foreigner when the country doesn't have squat.
Literally the foreigner is sucked in.

As decades pass and economics change the rules for foreigners and business enterprises begin to change.
Gladly most expats have the right to return to their own countries.
Hell, mine is even building a wall.

You can never blame any country for wanting wealthier citizens and residents.
(Well actually, you can @Wombat ...but it's the same as blowing in the wind. Good luck.)
 
Wombat said:
How mucked up is the system when guys like Nomad have problems just staying in the country! FFS, I'm glad I'm leaving.
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There has to be some form of regulation to ensure that a foreigner living in the country has sufficient funds to survive without being in anyway financially reliant on the government of said country. The majority of countries have such regulations (except UK who appears to let any twat in). How the Thai authorities reached the conclusion that Bht 65,000/month or Bht 800,000/p.a. is sufficient I have no idea but would suggest that it's an average to encompass village residents in Isaan and high flyers in Bangkok (probably biased toward the latter). They are not picking on @nomad97.

I manage reasonably well on around Bht 40,000/month but I don't pay rent nor do I have any loan repayments. I remember an Australian on this forum stating that he spent over Bht 120,000/month in Thailand so I can see where the problem is for the authorities.
 
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