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BANGKOK 20 February 2019 14:36
Pappap

Kasikorn Bank can't confirm UK pension comes from abroad?

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Posted (edited)

Have trawled through the multitude of pages on the requirements for UK Retirement yearly extension and other pages and could not find the answer so went into Kasikorn Bank 30mins ago, Krabi branch, and asked them to explain the code for the UK pension monthly income which is TRN on the right column and BNT on the left, and if they can confirm for TI that the monies came from abroad, said no the TRN is just a transfer, she phoned up head office, (I warble a little Thai enough to be polite) they confirmed no this is a transfer, poss from a clearing bank first...Soooo I also gather that Transfer wise gives the same problem, which leaves an option of send the pension to Barclays and then to here, costly on a monthly basis, or change to Bankok Bank which I believe has the needed codes and letter for TI, and use Transferwise, I have another pension and can combine the two and transfer at the same time to save costs. Anyone else have the same experience with K bank or any other suggestions, am using the combination method, have sufficient in the bank and sufficient income combined, been doing it for several years no problem, except a small one now, which I'm sure someone will help me with...happy new year....

Edited by Pappap
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11 hours ago, Sheryl said:

I also use Kasikorn and have been getting letters form them confirming transfer of funds from abroad for years, ever since an IO required it of me for annual extension (apparently wrongly, but they did ,and to avoid problems I've just gotten it every year since). So I know the process.

 

It is true that Kasikorn records all transfers, domestic and international in the same way and branch staff cannot tell the difference. However, the head office generates something called a "Credit Advice" that clearly shows the path the funds took, see example below.

 

You can get a copy of the Credit Advances from the head office and also arrange to get them in future routinely, which you should do. Then when it comes time to get the letter from your branch, show them the Credit Advices and explain that you need that information included in the letter. Since these are official Kasikorn documents they will not have a problem accepting the info, but it may take a little discussion to explain what you need them to write. Once you get the letter keep a copy to show them the following year.  I have done this every year for more than 15 years.

 

Transferwise is a more complicated problem because they do not transfer directly to banks other than Bangkok Bank.  So for people with accounts elsewhere, the money comes into Bangkok Bank in Thailand and from there is a domestic transfer to another Thai bank. So only Bangkok Bank would have the record of the funds origin.

 

This is what a Kasikorn Credit Advice looks like:

Thanks Sheryl, as I also need to trans the other pension seems it's going to be less hassle if I just change banks, but useful info if I don't...thanks

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Posted (edited)
42 minutes ago, Thailand said:

Bangkok bank show my UK pension as foreign transfer in to my savings account  so no problem, just switch to be on the safe side 

Hold on that. My pension transfers are shown as BTN, Bahtnet. This is a method of transferring funds between Branches or Banks throughout the country,so not useful.

Telegraphic transfers from overseas show as FCT which indicate foreign currency transfers. My pension arrives in Thai Baht so maybe that is the problem. Only ever used the lump sum method but a combo may be useful

 

May have to look at Sheryl's alternative. Will check with Bangkok Bank.

More problems to resolve with the new changes in requirements.

Edited by Thailand
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1 hour ago, Thailand said:

Bangkok bank show my UK pension as foreign transfer in to my savings account  so no problem, just switch to be on the safe side 

My nearest BKK branch is 65 km away in Khampaeng Phet so for me it is a small to medium problem.

 

I also queried KBank yesterday about the transfer and they tell me it will take 3 working days for an answer.

 

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11 hours ago, Sheryl said:

I also use Kasikorn and have been getting letters form them confirming transfer of funds from abroad for years, ever since an IO required it of me for annual extension (apparently wrongly, but they did ,and to avoid problems I've just gotten it every year since). So I know the process.

 

It is true that Kasikorn records all transfers, domestic and international in the same way and branch staff cannot tell the difference. However, the head office generates something called a "Credit Advice" that clearly shows the path the funds took, see example below.

 

You can get a copy of the Credit Advances from the head office and also arrange to get them in future routinely, which you should do. Then when it comes time to get the letter from your branch, show them the Credit Advices and explain that you need that information included in the letter. Since these are official Kasikorn documents they will not have a problem accepting the info, but it may take a little discussion to explain what you need them to write. Once you get the letter keep a copy to show them the following year.  I have done this every year for more than 15 years.

 

Transferwise is a more complicated problem because they do not transfer directly to banks other than Bangkok Bank.  So for people with accounts elsewhere, the money comes into Bangkok Bank in Thailand and from there is a domestic transfer to another Thai bank. So only Bangkok Bank would have the record of the funds origin.

 

This is what a Kasikorn Credit Advice looks like:

Hi Sheryl

 

How do I get the KBank head office to send me the credit advice. I make 3 transfers monthly.

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12 minutes ago, billd766 said:

Hi Sheryl

 

How do I get the KBank head office to send me the credit advice. I make 3 transfers monthly.

You have to call them. Have the details on hand (date of transfer and amount).

 

in addition to asking for the ones you have already made,  ask to receive them routinely, I think there is a form you have to submit.

 

this will all work only if your transfers are direct to Kasikorn bank. It will not work if you use Transferwise or other service that first transfers to a different Thai Bank because in that case Kasikorn will not have been the one to  issue the Credit Advice.

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In that case it wont work for the Uk pension as that is transfered to a Thai Bank first as mentioned above, ummm

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Can anyone confirm that Transfer wise definitely shows up as a monies coming in from abroad?

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3 minutes ago, Pappap said:

Can anyone confirm that Transfer wise definitely shows up as a monies coming in from abroad?

Are you asking about coming into Kasikorn or another Thai Bank?

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Can anyone confirm that Transfer wise definitely shows up as a monies coming in from abroad?
Transferwise does not come from abroad. It comes from a local Thai office in Baht to the local bank.
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