WISE TRANSFERS

[Andrew Reeve]

Hi @WilliamG

The following was emailed to Thaiger talk from this member and it was for you, please note they are a member and if you reply they will see the post.

 

Tjansen

 

Hi William, I spent part of the afternoon with my girlfriend at kbank with the purpose of getting an FET document.

 

We were taken upstairs to an open working area and a man working there, after a lengthy explanation of what we were looking for, was able to have his headquarters fax a document on their letterhead called an acknowledgement.

 

That document along with the PDF from transferwise would be enough to show that the money came from the US and was sent from England, with the address of transferwise, to Thailand. There was no mention of an FET on it and I thanked him profusely for persisting with several steps to get that document into our hands.

 

If I have nothing more promising at renewal time, that will be in my folder.

 

I have not heard back from ofx yet.

 

[Faz]

5 hours ago, WilliamG said:

The FTT code is put on at this, the Thai end, nothing to do with Wise.

FTT stands for Foreign Telex Transfer.
When you request a transfer from Nationwide to their UK account, it is sent using the 'faster payment's system and hits the Wise UK account within seconds.
The UK branch then send a 'Foreign Telex Transfer' to their Thai partner branch to initiate the payment process.
No funds are actually transferred from the UK to Thailand, funds are paid locally by one of their partner branches in Thailand. 

Because you already hold sufficient funds in your Wise account, to cover the small amounts requested, they can pay it directly from one of their Thai partner branches to your account. It is coded as a local transfer because they didn't receive an FTT request from their UK branch.

It cannot be coded as an FTT transfer if the request was never made from their UK account to one of their Thai partner accounts in the first instance.

I answered your question several pages ago, but you either don't appear to understand how the system works, or just fishing for an answer that doesn't exist, or something else ...........

It's Wise that inform the Thai bank when it was an FTT request.

[WilliamG]

8 hours ago, Faz said:

Because you already hold sufficient funds in your Wise account, to cover the small amounts requested, they can pay it directly from one of their Thai partner branches to your account. It is coded as a local transfer because they didn't receive an FTT request from their UK branch.

Thanks for this explanation. However, how then could Bht 50,000 transfers from my Wise THB account  on 1st Sept. & Oct. go directly to my Bangkok Bank and be coded FTT and arrive at the normal time of 14.04 and not instantly? There is no foreign element to these transfers, but Bangkok Bank coded them as such.

I know you are trying to explain things to me, but I have learned from both emails from Wise, and other forums that it is Bangkok Bank who code it as FTT, not used by other Thai banks, and I must ask, say, Kasikorn for Credit Advice to show that it WAS an International Transfer if it did, as it has recently, gone through them. I do this yesterday for the £50 I sent on Monday.

[WilliamG]

9 hours ago, Faz said:

FTT stands for Foreign Telex Transfer.
When you request a transfer from Nationwide to their UK account, it is sent using the 'faster payment's system and hits the Wise UK account within seconds.
The UK branch then send a 'Foreign Telex Transfer' to their Thai partner branch to initiate the payment process.
No funds are actually transferred from the UK to Thailand, funds are paid locally by one of their partner branches in Thailand. 

Because you already hold sufficient funds in your Wise account, to cover the small amounts requested, they can pay it directly from one of their Thai partner branches to your account. It is coded as a local transfer because they didn't receive an FTT request from their UK branch.

It cannot be coded as an FTT transfer if the request was never made from their UK account to one of their Thai partner accounts in the first instance.

I answered your question several pages ago, but you either don't appear to understand how the system works, or just fishing for an answer that doesn't exist, or something else ...........

It's Wise that inform the Thai bank when it was an FTT request.

 

From recent Wise emails. Make of these what you will.

We can't guarantee exclusive routing that will show the payment as an international transfer, It’s because of how we work: when you send money with us, we use our Thai banking partners to send out your money locally. It doesn’t cross any borders, so it doesn’t show up as a foreign transaction.

Your primary bank account - which is the account that transfers will automatically go to is indeed with Bangkok Bank

I already coordinated your question to our Payments team and they mentioned that transfers sent through Bangkok Bank and Kbank will arrive as local transfers. 

Yes, choosing your transfer doesn't automatically mean that  your payment  will be  routed to Bangkok Bank. 

There's no issue on our end. Wise is not authorized by the Bank of Thailand to issue FET forms. It’s because of how we work: when you send money with us, we use our Thai banking partners to send out your money locally. Unfortunately, we cannot guarantee that  your money will be sent out through your preferred partner bank. As a resolution to this, you can always ask our partner bank for the FET form directly. 

Unfortunately, we cannot guarantee that the money will be sent out to your preferred partner bank. 

If you know you definitely need a FET, it’s best that you send a SWIFT transfer with your bank this time. SWIFT is a more expensive method, because it’s not a local transfer. But it does mean you’ll be able to prove that the money came from abroad.

Yes, it can be routed to Bangkok Bank. However, as mentioned in my previous email, we cannot guarantee that the money will be sent out to your preferred partner bank. There are unforeseen scenario where a certain partner might be facing a technical/liquidity issue and the system will route the payment via another available partner to ensure same day delivery.

We used different partner banks to process your transfer but our transfer method is still the same. You can also choose "Buying Property Abroad" or "Funds For Long Term Stay in Thailand" as transfer purpose so that it can be routed through Bangkok Bank. 

 

[WilliamG]

12 hours ago, Andrew Reeve said:

Hi @WilliamG

The following was emailed to Thaiger talk from this member and it was for you, please note they are a member and if you reply they will see the post.

Tjansen

 

Hi William, I spent part of the afternoon with my girlfriend at kbank with the purpose of getting an FET document.

 

We were taken upstairs to an open working area and a man working there, after a lengthy explanation of what we were looking for, was able to have his headquarters fax a document on their letterhead called an acknowledgement.

 

That document along with the PDF from transferwise would be enough to show that the money came from the US and was sent from England, with the address of transferwise, to Thailand. There was no mention of an FET on it and I thanked him profusely for persisting with several steps to get that document into our hands.

 

If I have nothing more promising at renewal time, that will be in my folder.

 

I have not heard back from ofx yet.

I went to Kasikorn Bank yesterday because that was through whom my transfer on Monday to Bangkok Bank, my Preferred bank, went, arriving at Bkk as a Local transfer not International. After a while on Google Translate to show what Credit Advice meant, and a few phone calls to Head Office, they printed one out for me which showed the date, to whom the money went and my account number, who sent it, address and account number, and the amount. Free of charge! 

I hope this will be accepted by my IO next month.

[Faz]

1 hour ago, WilliamG said:

I went to Kasikorn Bank yesterday because that was through whom my transfer on Monday to Bangkok Bank, my Preferred bank, went, arriving at Bkk as a Local transfer not International. After a while on Google Translate to show what Credit Advice meant, and a few phone calls to Head Office, they printed one out for me which showed the date, to whom the money went and my account number, who sent it, address and account number, and the amount. Free of charge! 

I hope this will be accepted by my IO next month.

I submit a number of extension applications on behalf of a few local disabled foreigners.

One has an SCB account, so his Wise transfers are always coded as 'local' in his Passbook, because the funds are always moved by either BKK, KK or TMB to his SCB account.
Last year and this year, Immigration have accepted the Wise PDF receipts as proof of monthly overseas transfers.

Another has a Kasikorn account, which are also coded as 'local' in his Passbook (although a 12 month statement from HQ would state 'International Transfers), but again, never needed a statement as Immigration have accepted the Wise PDF receipts as proof of monthly foreign transfers.

Enquire at your local Immigration if they accept the Wise PDF receipts as proof of foreign transfers ......... most do. I'll shortly send you a PM with some further detailed information.

[tjansen]

On 10/11/2021 at 8:35 PM, Pib said:

And I did another low dollar Wise transfer to my Bangkok Bank acct around 6pm....used the Long Stay Thailand reason for transfer...the USD-THB transfer posted to my Bangkok Bank acct in 6 seconds...I did "not" get International Transfer/FTT coding but just domestic transfer coding....Wise PDF Receipt shows K-bank as the partner bank used.  

So, for today, both transfers to my Bangkok Bank acct when using Long Stay Thailand transfer coding did not garner FTT coding/Bangkok Bank was not used as the partner bank, but Wise used K-bank as the partner bank instead and I got domestic transfer coding.

I also did a small trial transfer with the same result. I printed out the pdf and took it into the local K Bank branch looking for an FET that I have been hearing about. The teller shuttled me (and my girlfriend as translator) upstairs to a detached work area. A guy there, who was very diligent and wanting to help, had no idea what we were referring to. With an ongoing explanation from my girlfriend and with the man calling Bangkok Bank as well as his head office, he finally got a FAX which showed the source of the funds as WISE, with their address in the UK. So putting the WISE pdf together with that document, it could be seen that the funds originated from my US bank, went through WISE, and ended up in K Bank.

At this point I took the papers and left without trying to get something called an FET. I will only try using something like this if I have no other option. I am currently looking for an alternative to WISE. I am about halfway through my 12-month transfer process, but keeping my money-in-the-bank approach until I've had a successful renewal at Immigration. Will update with any successes I might experience.

Tom 

[CDavid10]

On 10/11/2021 at 10:29 AM, WilliamG said:

Got a reply from Wise. This is a load of rubbish as I have done a transfer to my Bangkok Bank every month for at least two years and it has always shown as an International Transfer (FTT).

We aren't authorized by the Bank of Thailand to issue FET forms. It’s because of how we work: when you send money with us, we use our Thai banking partners to send out your money locally. It doesn’t cross any borders, so it doesn’t show up as a foreign transaction.

I got the same reply from the email I send.  Difference is they went off on something about 50,000 USD. It was a simple monthly transaction that I have done for 2.5 years. Sounded like they did not even read my email.  Then the next email was something about a fricken condo which was never mentioned.  Their customer service is somewhere out in space. They are clueless. Bank of Thailand has nothing to do with Bangkok Bank. They must be smoking something weird. They have lost my business I will go somewhere else. Here is the last email some idiot sent:  

Wise cannot make the transfer show as an international one since it has already completed.

However, there is still a universal way that all our customers can use to prove their transfer was international.

I will provide the steps for you below.
 

1. Transfer sent to Bangkok Bank

 

• money sent to Bangkok Bank Recipient: 

  1. Recipient (you) will need to reach out to Bangkok Bank branch where your account is maintained and provide the following documents: 

  2. Bangkok Bank Savings Passbook or Statement showing the specific transaction

  3. Your passport

  4. Agreement of the purchase of Condominium (for purchasing accommodation purposes)

 

 

[WilliamG]

Did a THB 50,000 transfer at 6.30 this morning from my Wise THB balance costing Bht32 to my Bkk Bank. Just arrived AS AN INTERNATIONAL TRANSFER.

Edited November 1, 2021 by WilliamG

[tjansen]

On 11/1/2021 at 2:10 PM, WilliamG said:

Did a THB 50,000 transfer at 6.30 this morning from my Wise THB balance costing Bht32 to my Bkk Bank. Just arrived AS AN INTERNATIONAL TRANSFER.

Hi WilliamG, it is me again, Tom Jansen. Thanks for your ongoing updates. It still sounds like Wise is the best choice. Some reports say that they have not been able to do transfers lately (November 20 +). ]

I have to make a monthly transfer for my visa extension around November 29.

Do you happen to have an alternative to use if I run into a snag? So far, six transfers have gone through with the FTT code. However, these very recent reports of problems are a bit worrisome.

Here is my email address again, if you don't mind using it. If you do mind, I can probably find you again on Thaiger. tjthomasjansen81@gmail.com

Thanks a lot. 

By the way, in case anyone asks, I have used Deemoney for sending thai baht to the US with good results. It was a bit confusing getting signed up, but then it went smoothly. I can help if anyone asks.

Edited November 24, 2021 by tjansen
Forgot to add a note.

[WilliamG]

On 11/24/2021 at 11:42 PM, tjansen said:

Hi WilliamG, it is me again, Tom Jansen. Thanks for your ongoing updates. It still sounds like Wise is the best choice. Some reports say that they have not been able to do transfers lately (November 20 +). ]

I have to make a monthly transfer for my visa extension around November 29.

Do you happen to have an alternative to use if I run into a snag? So far, six transfers have gone through with the FTT code. However, these very recent reports of problems are a bit worrisome.

Here is my email address again, if you don't mind using it. If you do mind, I can probably find you again on Thaiger. tjthomasjansen81@gmail.com

Thanks a lot. 

By the way, in case anyone asks, I have used Deemoney for sending thai baht to the US with good results. It was a bit confusing getting signed up, but then it went smoothly. I can help if anyone asks.

Did my monthly transfer yesterday at 06.30, which arrived at 14.02 as usual, as an FTT. Sent THB from my Borderless Wise account to my Bangkok Bank, fee of THB 32,69.

[kebabby]

I just did a transfer from Starling bank UK - Wise - SCB for 49.9k and it is NOT shown as foreign transfer . The Wise PDF shows as Local bank transfer by Deemoney. It was transferred instantly despite being Saturday. I selected funds for long stay as reason.

[KaptainRob]

I now have a Wise Debit Visa card and used it in NZ/Aus for shopping and out-of-pocket expenses, paywave usually.

The system works seamlessly with their App, a notification is pushed to your phone immediately upon making the transaction.  Highly recommended.