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Transferwise international transfers heads up


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5 minutes ago, theoldgit said:

Could it be this?

Yes that is it is but if you click on it, it shows a list of other banks that it transfers from 

Definitely not what we all want to see as it specifies an internal transfer not an international transfer 

This could be a big problem for many of us that need to prove an international transfer for our extension 

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1 minute ago, Dene16 said:

Yes that is it is but if you click on it, it shows a list of other banks that it transfers from 

Definitely not what we all want to see as it specifies an internal transfer not an international transfer 

This could be a big problem for many of us that need to prove an international transfer for our extension 

Indeed, that was my thinking.
Why does this all have to be so difficult?

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On 6/30/2019 at 2:22 PM, steve73 said:

I suspect that unless you have specifically requested TW to manually route your payments via their BBL local banking partner (LBP) to suit your receiving account then you have just been lucky, since they use any one of 3 LBP's (although BBL does seem to be the more usual default).

 

Also, it seems from reports here (myself included) that TW have made some very recent (i.e just the past week) changes to their systems, and that even when payments are routed via the same LBP as the receiving account, that they are NOT being coded as international.

 

Hence my reference to it still being a "work-in-progress".

I suspect that TW uses the most convenient bank for them, although it might be the cheapest.  But if someone is sending their transfer to a BBL account. it might just be more convenient but certainly not guaranteed.  

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11 hours ago, Dene16 said:

My latest transfer, only today to Bangkok bank, shows as interbank transfer via smart

No longer FTT

Don't know where that will leave everyone?

What was the amount of your transfer? Thanks

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On 6/29/2019 at 4:48 PM, possum1931 said:

Transferwise will make problems for you rather than solve them. It took them 7 days and several phone calls before I got my money transfered into my Thai bank from the UK. I'm very wary of using them now.

I can't understand that, I told them when I joined that I needed this for visa reasons, the deposit in BKK bank is shown as FTT, the transfer is there the next day (from Germany) once it came on the same day.

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2 minutes ago, soalbundy said:

I can't understand that, I told them when I joined that I needed this for visa reasons, the deposit in BKK bank is shown as FTT, the transfer is there the next day (from Germany) once it came on the same day.

I can assure you it took 7 days to reach my Bangkok bank.

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Hi Oxmermaid, I have just today had a transfer by TW to my Bangkok Bank account, and this occasion it is different to previous FTT entries -  Interbank transfer via SMART. FTT is not mentioned. 

 

I have sent a message to BBK to clarify the situation.

 

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I have made about 30 transfers from the UK by TW to my BBL account in the last 9 months or so. All, bar 1 show FTT as the code. Only 1 had this SMT code and that was back in February with the transfer value being only about Bt4,000, so I had no worries at that time. The important, over Bt65,000 transfers had the FTT code, including the most recent one of 26th June.

 

If the coding is now going to be a crap shoot, with no coding certainty or a convoluted work around, that may be the end of TW/BBL transfers for Immigration purposes. Potentially a game changer for the worst. With the more expensive Swift transfers as the likely fall back.

 

The Embassies that are the cause of this continued uncertainty have a lot to answer for........!!!

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45 minutes ago, cassde said:

Hi Oxmermaid, I have just today had a transfer by TW to my Bangkok Bank account, and this occasion it is different to previous FTT entries -  Interbank transfer via SMART. FTT is not mentioned. 

 

I have sent a message to BBK to clarify the situation.

 

same for me. Until now all shown as international transfers, that is until the last one

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I am on the phone right now with TW.  They said this is a change to make things faster and cheaper.  They also said it is not their problem if we have visa issues because of this.   I tried to get the issue escalated but was told they could do nothing.

Edited by AAArdvark
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6 minutes ago, AAArdvark said:

I am on the phone right now with TW.  They said this is a change to make things faster and cheaper.  They also said it is not their problem if we have visa issues because of this.   I tried to get the issue escalated but was told they could do nothing.

Sent them an email, waiting for reply on same issue. However my last two transfers have been delayed so somewhere there system has changed for the worse.

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2 hours ago, johnjohn2 said:

Bank Book shows SMT. Which I assume stands for Smart Transfer. Not sure if this is an acceptable code or not.

 

 

34 minutes ago, dabhand said:

I have made about 30 transfers from the UK by TW to my BBL account in the last 9 months or so. All, bar 1 show FTT as the code. Only 1 had this SMT code and that was back in February with the transfer value being only about Bt4,000, so I had no worries at that time. The important, over Bt65,000 transfers had the FTT code, including the most recent one of 26th June.

 

If the coding is now going to be a crap shoot, with no coding certainty or a convoluted work around, that may be the end of TW/BBL transfers for Immigration purposes. Potentially a game changer for the worst. With the more expensive Swift transfers as the likely fall back.

 

The Embassies that are the cause of this continued uncertainty have a lot to answer for........!!!

Think that this is an internal code and, hence, doesn't meet Immigration's specific "foreign" requirement. In addition to being the code used for a couple of TransferWise transfers to my Bangkok Bank account where the agency banks used by TransferWise were TMB and Kasikorn (which caused me to throw in the towel with TransferWise), it was also the code used in respect of a refund to my Lazada wallet which I subsequently transferred to my Bangkok Bank account.

Edited by OJAS
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20 minutes ago, AAArdvark said:

Anyone who has access to phone numbers in the US  888-908-3833

A few months ago I rang the Australian number.  I asked the operator that had an american accent where he was. He stated Estonia. 

  • Haha 2
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58 minutes ago, dabhand said:

With the more expensive Swift transfers as the likely fall back.

For us Brits with Bangkok Bank accounts, the option still exists for transfers to be made from our UK accounts via their London branch - which I have now reverted to using after ditching TransferWise on account of the coding issues referred to in this thread. In contrast to its New York counterpart for our American cousins it doesn't appear to be going away any time soon.

 

This option may well be more expensive that TransferWise, but it's definitely cheaper that SWIFT. The drawback for those who haven't used the service before, though, is that registering for it these days is a right PITA:-

 

https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/Transfer-money-from-UK-to-Thailand-via-London-Branch

 

Edited by OJAS
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On ‎6‎/‎28‎/‎2019 at 10:45 PM, Genericnic said:

just did a transfer on 24 June from . my US bank to Bangkok Bank. No need to do a Callback to make sure it went to Bangkok Bank. Went into the bank a couple of days later to get a credit advice to use with immigration and it confirmed that the funds had arrived as FTT.

 

One thing to note about Transferwise is that they raised their fee between this transfer and the prior one. For about the same US$ transfer amount, the fee increased from US$18.73 to US$22.60. 

 

David

So to transfer let's say 65,000 baht or about $2,100 USD every month, it will cost $22.60.  Twelve times a year that means $271 USD, or 8,400 Baht.  Seems so stupid to have to do it that way, when it is so much easier to do it maybe once very three months, twice a year, etc.  Stupid way to allegedly show "income" when it really doesn't prove income.  One could just be spending down a lump sum, may not have any equities that pay dividends, no rent income, royalties, no pension, etc. 

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I've used TW and recommended them on here, but this month's(on the 1st of July) transfer into my Bangkok Bank was interbank via SMART and not the usual ITT.

I emailed them and got a curt reply, basically this is their system and tough luck, but she did say she hopes I get my visa.

I do know how they work, doubled checked my PDF receipts and this month is showing K Bank(on page 2)as their Banking partner and not Bangkok Bank as all the previous transactions.

So I may have to change to K Bank, but I've no idea if this month's bimp will screw my visa ?.

Worryingly, TW are stilling showing it as pending, but I've already moved it from my BBL account and said their having problems with transferring, that's an understatement !

Sent from my SM-J730GM using Thailand Forum - Thaivisa mobile app

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2 hours ago, MAZ3 said:

So I may have to change to K Bank,

Is that of any benefit? They likely have not changed to be always using KBank, and may still transfer via TMB or indeed Bangkok Bank next time. 

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3 hours ago, jacko45k said:

Is that of any benefit? They likely have not changed to be always using KBank, and may still transfer via TMB or indeed Bangkok Bank next time. 

Until TW sort out their system properly (if at all) this may not be of any benefit.  My last transfer (Jun -24th) to my k-bank went via TW's K-bank local partner (without me asking) but it wasn't coded as intl.  Previously when going via k-bank it has always been coded as Intl, (whether I requested it going via k-bank or not).

 

FWIW, I heard from a friend yesterday, who managed to get his extension last week based on income where he'd missed one of the monthly transfers, so used his US credit card to withdraw cash, and then deposited this into his Thai account early the following month.

 

I'm not going to mention which office since it bears little relevance to anybody's own application, and I'm sure nobody would plan for it, but does indicate that some offices are maybe being lenient.  

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The same result for me after 6 months of International transfers UK to my Bangkok Bank all marked as International transfers My July 2nd transfer was Marked as Interbank Transfer via SMART. July would be my first transfer for my next visa June 2020. No option now but to go back to UK bank to Bkk bank direct with higher bank charges unless Immigration or Transferwise change.

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Did anyone ask Bangkok Bank the following 2 questions-

 

1) Does the SMART transfer show TransferWise as the sender?

 

2) Will Bangkok Bank confirm in a letter for Immigration that the SMART transfer is an international transfer?

 

Thanks for your help and time.

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18 minutes ago, racyrick said:

Did anyone ask Bangkok Bank the following 2 questions-

 

1) Does the SMART transfer show TransferWise as the sender?

 

2) Will Bangkok Bank confirm in a letter for Immigration that the SMART transfer is an international transfer?

 

Thanks for your help and time.

I think I read on another thread Bangkok Bank said you would have to confirm with the intermediary bank. My transfer came as SMT yesterday. Extensions based on foreign income is really becoming a PITA.

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I've said it before and I'll say it again: No matter which code ends up in the book, can you really trust immigration to accept these transfers? They might in some cases and might not in others, are you really willing to gamble your extension on that for a relatively small saving in transfer fees?

 

The way TW operates, it's clear that the individual transfers to the recipient accounts in Thailand are domestic. Sure, if the code is shown as "FTT", that might be enough to fool immigration, but just looking at this latest "hiccup" and TW's response to it reinforces my belief that it would be foolish to rely on this method.

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