Which Thai banks show incoming SWIFT transfers as coming from overseas?

[jesimps]

4 hours ago, JackThompson said:

TW doesn't always use BKB, so even with an account there, you may not get all your xfers marked as foreign-sourced.

 

Some Thai banks may not receive SWIFT directly.  Be sure the instructions for your bank do not include an "intermediate bank."  I believe SWIFT to BKB are always direct and shown as foreign-xfers.

Yes my December TW transfer to me went via TMB.

[jesimps]

3 hours ago, Percy P said:

Have a bank account that has only swift payments in it. Simple.

And lose 2000 baht month on the  transfer compared to TW.

[Jim7777]

On 2/19/2019 at 12:55 PM, indepth said:

Jolly good topic ol man, what about Siam Bank?

SCB can verify your transfers from the states as well I know because I have an account with Siam Commercial Bank and I’ve verified my International wire transfers from my bank in the States by asking for the Credit Advice.  It’s pretty simple I’m sure most banks in Thailand can probably do it the same way but I’d probably avoid the smaller banks.  I know that Bangkok Bank can do it as well because I have an account with them as well.  

 

The day after your International wire transfers posts to your Thai bank account then just go to the bank and ask for the Credit Advice regarding your last International wire transfer you made and it’s a print out that verifies everything such as your name, local address here in Thailand, your bank name from the States or whatever country, the account number that your wire transfer originated from, the amount in Thai Baht of the wire transfer, the Thai bank account and account number that your wire transfer went into which will match your pass book, and everything else that Immigration would need to verify that your International wire transfers are coming from your home country.  Although you’ll probably still need an official letter from your bank for Immigration when you do your extension according to the police orders.  

 

The Credit Advice might be accepted by immigration but I don’t know, for me I just get the Credit Advice print outs every month so I have a record and a paper trail of my wire transfers from my bank in the States to SCB every month and so I know that they can be verified.  Immigration will probably just need your pass book and an official letter from your bank.  

 

I like the new rules it’s a lot easier to take care of everything for Immigration when I do my extension right here where I live instead of making that long trip to the Embassy in Bangkok once a year for their stupid income affidavits.  Good riddance to the Embassy letters.  Immigration actually made it easier for those of us who fall within their financial guidelines.  

[Jim7777]

1 hour ago, jesimps said:

And lose 2000 baht month on the  transfer compared to TW.

My pension is in USD and I do lose a little bit every month SOMETIMES when I make a wire transfer because of the exchange rates but it’s not that bad and I’m actually saving money because I don’t have to worry about ATM fees anymore when using a local Thai bank.  Before with the income affidavits I used my US ATM Card only and I paid a 220 Baht ATM fee every time I used the ATM.  So I actually like this way better because I never bothered to use a local Thai bank account before.  And it encourages me to save the money that I leave behind in my bank in the States because my pension is between $4 and $5,000 USD a month as a disabled veteran and a retired military member.  

 

I have looked into Transfer Wise and maybe I just don’t know how to use it but from my experience TW sucks, it’s useless but I might not know how to use it right.  

[Sheryl]

Transferwise UK is apparently fine but lots of people, myself included, have had problems trying to use Transferwise US. Especially if you try to do it with ACH debit. And if you don't then you've got to pay a domestic transfer fee at which point the savings compated to a SWIFT transfer -- which are alteady not so huge from transfets from US -- becomes even smaller.

Sent from my SM-J701F using Thailand Forum - Thaivisa mobile app

[Thailand J]

On 2/19/2019 at 12:33 PM, yang123 said:

So, the question is as the title: which Thai banks show incoming SWIFT transfers as coming from overseas?

Over the years  all my SWIFT transfers into SCB, K-Bank and Bangkok Bank have showed as foreigner transfers.

I have always ordered USD SWIFT at the source. I have heard that ordering baht SWIFT at your foreign source may result it being show up as BATHNET transfer, and also getting a poor exchange rate to your disadvantage.

[Maestro]

On 2/19/2019 at 6:51 PM, Moon37 said:

...I told T that I would transfer directly from Bank of America to my savings bank in Bangkok Bank...

 

Who is T?

[Maestro]

12 hours ago, owl sees all said:

...You are being treated unfairly; who can you turn to? An appeal??

There are various possibilities:

• Call the immigration hotline 1178 
• Speak to the chief of the immigration office or any other "competent officer equivalent to or higher than inspector" as per point 5 of Police Order 357/2557
• Call the Immigration Commander, Maj-Gen Surachate Hakparn, on his mobile number 081 644 0430

[BritManToo]

Just did this months Transferwise to Bangkok Bank, appeared in my bank book as FTT (for the third month in a row).

[Maestro]

10 hours ago, flbkk said:

Apparently all transfers from overseas come through Bangkok Bank...

I have seen this mentioned by several Thaivisa members in other topics and have always wondered whether it is really so.

[pontious]

2 minutes ago, BritManToo said:

Just did this months Transferwise to Bangkok Bank, appeared in my bank book as FTT (for the third month in a row).

Don,t get over excited - I have many TW transfers that show FTT - a few come as SMT -smart tx - domestic. I personally think IO will not be bothered. There are a zillion codes for tx from different banks - IO will not know the majority of them.

[pontious]

5 minutes ago, Maestro said:

I have seen this mentioned by several Thaivisa members in other topics and have always wondered whether it is really so.

No it is not - TW use 3 banks in Thailand. They then tx it to the relevant bank. If they use Bangkok bank it will show as FTT - others will show SMT  smart domestic tx.

[Maestro]

10 hours ago, JackThompson said:

...Some Thai banks may not receive SWIFT directly.  Be sure the instructions for your bank do not include an "intermediate bank."...

 

When the receiving bank in Thailand is not a corresponding bank of the remitting bank for the currency being remitted, the use of an intermediary bank is unavoidable.

 

Banks usually do no make the list of their corresponding banks available online for consultation. Somebody wanting to know this information should email his non-Thai bank the question "What are your corresponding banks in Thailand for <name or symbol of currency to be remitted>?" 

[JackThompson]

3 minutes ago, Maestro said:

When the receiving bank in Thailand is not a corresponding bank of the remitting bank for the currency being remitted, the use of an intermediary bank is unavoidable.

 

Banks usually do no make the list of their corresponding banks available online for consultation. Somebody wanting to know this information should email his non-Thai bank the question "What are your corresponding banks in Thailand for <name or symbol of currency to be remitted>?" 

Ok.  When I made SWIFT transfers to a bank (in another country), the recipient bank gave me instructions that included an intermediate bank.  Bangkok Bank's instructions did not include this.  I was not familiar with getting this info on the other end - good to know!

[jesimps]

6 hours ago, Jim7777 said:

SCB can verify your transfers from the states as well I know because I have an account with Siam Commercial Bank and I’ve verified my International wire transfers from my bank in the States by asking for the Credit Advice.  It’s pretty simple I’m sure most banks in Thailand can probably do it the same way but I’d probably avoid the smaller banks.  I know that Bangkok Bank can do it as well because I have an account with them as well.  

 

The day after your International wire transfers posts to your Thai bank account then just go to the bank and ask for the Credit Advice regarding your last International wire transfer you made and it’s a print out that verifies everything such as your name, local address here in Thailand, your bank name from the States or whatever country, the account number that your wire transfer originated from, the amount in Thai Baht of the wire transfer, the Thai bank account and account number that your wire transfer went into which will match your pass book, and everything else that Immigration would need to verify that your International wire transfers are coming from your home country.  Although you’ll probably still need an official letter from your bank for Immigration when you do your extension according to the police orders.  

 

The Credit Advice might be accepted by immigration but I don’t know, for me I just get the Credit Advice print outs every month so I have a record and a paper trail of my wire transfers from my bank in the States to SCB every month and so I know that they can be verified.  Immigration will probably just need your pass book and an official letter from your bank.  

 

I like the new rules it’s a lot easier to take care of everything for Immigration when I do my extension right here where I live instead of making that long trip to the Embassy in Bangkok once a year for their stupid income affidavits.  Good riddance to the Embassy letters.  Immigration actually made it easier for those of us who fall within their financial guidelines.  

I think most people probably  "fall within their financial guidelines."  The big problem, as far as I can see, is will the IO on duty be satisfied by what you put before him. If not, it doesn't give you much time to put things right, especially if seasoning is involved. We have to see plenty of feedback from people applying for extensions at our local offices. 

I just hope that your confidence in the local IOs is justified, you certainly have more faith than I do.

[jesimps]

6 hours ago, Jim7777 said:

My pension is in USD and I do lose a little bit every month SOMETIMES when I make a wire transfer because of the exchange rates but it’s not that bad and I’m actually saving money because I don’t have to worry about ATM fees anymore when using a local Thai bank.  Before with the income affidavits I used my US ATM Card only and I paid a 220 Baht ATM fee every time I used the ATM.  So I actually like this way better because I never bothered to use a local Thai bank account before.  And it encourages me to save the money that I leave behind in my bank in the States because my pension is between $4 and $5,000 USD a month as a disabled veteran and a retired military member.  

 

I have looked into Transfer Wise and maybe I just don’t know how to use it but from my experience TW sucks, it’s useless but I might not know how to use it right.  

TransferWise saves me about 2000 baht each 68,000 baht transfer I make. 24,000 baht a year. If that sucks, then you must be a very rich man.

[jesimps]

5 hours ago, Thailand J said:

Over the years  all my SWIFT transfers into SCB, K-Bank and Bangkok Bank have showed as foreigner transfers.

I have always ordered USD SWIFT at the source. I have heard that ordering baht SWIFT at your foreign source may result it being show up as BATHNET transfer, and also getting a poor exchange rate to your disadvantage.

SWIFT transfers are shown as FRCI (Foreign Remittance and Settlement) on my SCB statement. All well and good, but very expensive. For that reason I've opened a Bangkok Bank account. I did a transfer this morning at a rate of 40.288 baht to the pound and the 1700 pound transfer cost me approx 13 pounds using TransferWise. Hopefully it'll show as an international transfer when it arrives in BB tomorrow. I'll receive 68,490 baht for the 1700 pounds, far more than I'd get using SWIFT, plus my bank charges would be higher.

[2tall]

every local Thai bank I have used since 1999.

[jesimps]

1 hour ago, Maestro said:

I have seen this mentioned by several Thaivisa members in other topics and have always wondered whether it is really so.

They don't! My December TransferWise transfer to SCB arrived via TMB according to my TW receipt. October and November did arrive via BB.

[jesimps]

1 hour ago, JackThompson said:

Ok.  When I made SWIFT transfers to a bank (in another country), the recipient bank gave me instructions that included an intermediate bank.  Bangkok Bank's instructions did not include this.  I was not familiar with getting this info on the other end - good to know!

When I use TranferWise, the transfer confirmation has on it my UK address as a reference, the amount sent in pounds and baht equivalent, the name of my bank here and the banking partner Bangkok Bank (or TMB for my December payment).

[scubascuba3]

Just did this months Transferwise to Bangkok Bank, appeared in my bank book as FTT (for the third month in a row).

I'd like to see many reports of IOs accepting transferwise transfers before i switch from swift to transferwise. Is it worth the risk with potentially no agent fall back

[Henryford]

46 minutes ago, scubascuba3 said:

11 hours ago, BritManToo said:

Just did this months Transferwise to Bangkok Bank, appeared in my bank book as FTT (for the third month in a row).

I'd like to see many reports of IOs accepting transferwise transfers before i switch from swift to transferwise. Is it worth the risk with potentially no agent fall back

This is the big unknown that is missing from all these discussions. What will immigration accept as proof of a foreign transfer. I don't want to start opening new accounts or move to SWIFT if it's not necessary.

[JackThompson]

9 hours ago, jesimps said:

11 hours ago, JackThompson said:

Ok.  When I made SWIFT transfers to a bank (in another country), the recipient bank gave me instructions that included an intermediate bank.  Bangkok Bank's instructions did not include this.  I was not familiar with getting this info on the other end - good to know!

When I use TranferWise, the transfer confirmation has on it my UK address as a reference, the amount sent in pounds and baht equivalent, the name of my bank here and the banking partner Bangkok Bank (or TMB for my December payment).

I was talking about SWIFT.  TW is another system entirely.  What will likely matter to immigration is what your Thai Bank says about the transfers, not a document from TW.

[scubascuba3]

This is the big unknown that is missing from all these discussions. What will immigration accept as proof of a foreign transfer. I don't want to start opening new accounts or move to SWIFT if it's not necessary.

A noticeable lack of reports on here whether IO are accepting Transferwise transfers. I'm wondering whether people are keeping quiet about it as technically they are all domestic.We are probably worrying more about this than Immigration

 

 

 

 

[Moon37]

A picture is worth 800,000 THB.  As discussed previously I was going to test two transfers a day apart (daily limit).  The first was my Bank of America using Bangkok Bank NYC to Bangkok Bank BKK and the other a first time Bank of America direct to Bangkok Bank BKK.  Aside from through put I also wanted to see the Bank Transfer codes at compared at each movement. I sent the SWIFT TO MYSELF (but as someone else in the tickbox . It turned out that the two transfers moved side because my SWIFT didn't have to go through BB NYC.  I've got some screen shots redacted

 

First Row are BoA's the details from BoA to BB BKK with Routing ID SWIFTBKKBGNBK   #2 is BoA's transfer  activity (and because there Is a note. I added it as well.   The second row from the BB BKK on-line shows BAHTNET and My Bank Book which is ultimately what the IO would see is BTN

 

 

 

 

[skatewash]

32 minutes ago, scubascuba3 said:

A noticeable lack of reports on here whether IO are accepting Transferwise transfers. I'm wondering whether people are keeping quiet about it as technically they are all domestic.We are probably worrying more about this than Immigration

 

 

 

 

3

Not too surprising on the lack of reports regarding Transferwise transfers.  Out of the pool of people applying for retirement extensions, some are using the lump-sum method which doesn't care about showing international transfers, and others are using the embassy income letters (even those from the unfortunate four embassies that have stopped issuing them).  There are even reports that some Immigration offices are not accepting the monthly deposit method for those who can still get the embassy income letter.  That is, immigration is requiring the embassy income letter and not accepting the monthly deposit workaround that was developed solely for those who depended on the unfortunate four embassies.

As far as whether a TW transfer from say the US to Thailand is an international transfer, of course it is.  How it gets marked can indicate the international nature of the transfer or not, but there's no serious dispute that it was international.  (Proving that to an immigration officer is entirely another matter.) 

Modern banking is all about electronic databases where credits and debits are maintained.  Sending a SWIFT of $100 dollars from a US bank to a Thai bank is no more "international" than sending a TW from the US to Thailand.  Both result in a debit being made to an account in the US and a credit being made to an account in Thailand.  Both should be acceptable to Thai Immigration as international transfers.   Interestingly, one definite international transfer is not recognized by Thai Immigration and that is physically carrying cash from the US to Thailand, filing any cash export and import forms necessary, and going to a foreign exchange in Thailand and having the currency exchanged into baht there.

Edited February 22, 2019 by skatewash
sent before finished

[Moon37]

A picture is worth 800,000 THB.  As discussed previously I was going to test two transfers a day apart (daily limit).  The first was my Bank of America using Bangkok Bank NYC to Bangkok Bank BKK and the other a first time Bank of America direct to Bangkok Bank BKK.  Aside from through put I also wanted to see the Bank Transfer codes at compared at each movement. I sent the SWIFT TO MYSELF (but as someone else in the tickbox . It turned out that the two transfers moved side because my SWIFT didn't have to go through BB NYC.  I've got some screen shots redacted

 

First Row are BoA's the details from BoA to BB BKK with Routing ID SWIFTBKKBGNBK   #2 is BoA's transfer  activity (and because there Is a note. I added it as well.   The second row from the BB BKK on-line shows BAHTNET and My Bank Book which is ultimately what the IO would see is BT  RESULT IS BANGKOK; BB ACCOUNT IT SHOWS BAHTNET BUT MY BANK BOOK FOR THE SAME SWIFT TRANSACTION IT SHOWs BTN which is what the IOs will see

 

 

                                                                                                           

                                                                                                            

                                                                                                                                                                                           A

                                                                                                                                                          

  

 

BAnk of  Aneric  sWIFTT  IS BTN  A                                                                                                         N

 

FOLLOW BANK OF AMERICA DIRECT SWIFT CODES.docx

[Pib]

18 hours ago, Maestro said:

I have seen this mentioned by several Thaivisa members in other topics and have always wondered whether it is really so.

If I had to lay down a bunch of my own money in a bet as to whether it's true or not I would bet it's not.  Expect it's just some posters getting some miscommunications....the Thai-English misunderstanding type thing....or just some not-so-informed bank rep saying such.   I've lost count the number of times I've asked a Thai bank rep a question....got one answer....asked it again to another rep a little later and got a different answer.  And there have been a few times it was only after going up the supervisor chain did I finally get the correct answer.  Ditto in a few question to my "US bank" reps over the years.

[scubascuba3]

Yes that's why i bank with Krungsri. 1.3% for the MTD savings account which operates like a current account with a debit card etc.

For this 1.3% it says from 100k, so for balances over the 100k interest will be calculated 0.6% for the first 100k then 1.3% above that subject to a max. Is that your understanding? so in effect it isn't 1.3% on the whole balance

 

[skatewash]

1 hour ago, scubascuba3 said:

For this 1.3% it says from 100k, so for balances over the 100k interest will be calculated 0.6% for the first 100k then 1.3% above that subject to a max. Is that your understanding? so in effect it isn't 1.3% on the whole balance

 

No, it's not a marginal rate.  The interest rate used depends on the balance, but the interest rate is applied to the entire balance.