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TransferWise still working well


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 Well for me anyway.

 

Yesterday,, early evening I arranged my monthly transfer of 65100thb from the UK.

 

I paid at 6:50 PM, Thai Time, the money arrived in my  Bangkok Bank account just after 2 PM today.

 

It showed international transfer. That is now seven in a row for me showing international transfer. 

 

 So it looks as if transfer time is now back to what it was a few months ago and they have sorted out their problems 

Edited by JAS21
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 Well for me anyway.
 
Yesterday,, early evening I arranged my monthly transfer of 65100thb from the UK.
 
I paid at 6:50 PM, Thai Time, the money arrived in my  Bangkok Bank account just after 2 PM today.
 
It showed international transfer. That is now seven in a row for me showing international transfer. 
 
 So it looks as if transfer time is now back to what it was a few months ago and they have sorted out their problems 
Did you set up the tagging others have mentioned?

what drop down box description did you use?
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1 hour ago, scubascuba3 said:

Did you set up the tagging others have mentioned?

what drop down box description did you use?

 Initially I used to do the deal and then phone transfer wise and they would advise some group that I want it to go direct to Bangkok Bank.

 

They would then contact me to say it has been arranged and I was to pay the money.

 

Later my account was tagged 

 

Then there was the problem and I went back to what was arranged initially.

 

Now my account is tagged and I don’t bother informing them anymore that I am doing a deal.

 

I always used the general living expenses but since someone pointed out there was the  ‘for  Immigration’  line at the bottom I now use that.

Edited by JAS21
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5 hours ago, JAS21 said:

Well for me anyway.

And me. only ever had one hiccup and that was during the software upgrade in early June.

 

Did this months transfer at 7:30am yesterday the 1st and it arrived in my BKKB account (FTT) at 2:00pm .........Just six and a half hours later.

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As I prep for possible retirement visa and extensions and wanting to use the income method (USA citizen).  I despise this monthly transfer being enforced now due to US Embassy being lazy and unwilling to work out a solution to the embassy letters.  Having said that, visiting Transfer wise website today, I see that transferring $2,200 USD to Thailand would result in 66,689 Thai Baht, and a cost to me of $21 USD.  So for a year, that would be 21 x 12 or $252.   Not an earth shaking amount but still measurable and wasteful, when a more reasonable say transfer every 3 months could be done.

 

  I started to open an "account" with transferwise to check out how they set things up.  I didn't get too far because I was not ready to give them all my personal Information yet.  I presume you somehow indicate the personal bank account you want the funds to come from, and then later you enter the Thai bank account you want the funds to go to.   I note they ask for a mobile phone number.  That may be problematic since my USA phone and number probably will not work in Thailand.  Do they send confirmation or verification code notices and things that you are required to enter when doing transfers?  Or do you just log in from a computer somewhere?  Also, do they allow you to set up repeat transfers, like once a month on the 15th for example?

Edited by gk10002000
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4 minutes ago, chang50 said:

You might not believe this but last month I did a transfer that took 5 mins from TW receiving my money to it appearing in my Thai bank.

 

 

2 minutes is my quickest.

 

That said, yesterday I got caught up in the “Your Transfer is taking a bit longer.....” and it arrived this morning.

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12 hours ago, gk10002000 said:

I started to open an "account" with transferwise to check out how they set things up.  I didn't get too far because I was not ready to give them all my personal Information yet.  I presume you somehow indicate the personal bank account you want the funds to come from, and then later you enter the Thai bank account you want the funds to go to.   I note they ask for a mobile phone number.  That may be problematic since my USA phone and number probably will not work in Thailand.  Do they send confirmation or verification code notices and things that you are required to enter when doing transfers?  Or do you just log in from a computer somewhere?  Also, do they allow you to set up repeat transfers, like once a month on the 15th for example?

I'm from the UK so there may be minor differences in the setup and using TW in the US but this is how to set up and complete simple transfers.

 

Once you've supplied your basic details they will open a simple TW account for you. They will give you your own TW account number (which is also used as a reference number for all transfers and correspondence) plus their bank account details for you to send the money to them. I gave my Skype (UK) phone number when I first set the account up and don't think I was asked for a mobile number, but I set my account up well over two years ago so that may now be a requirement. I've never given them my UK bank account details, but when sending money to them there is obviously a record created of where the transfer originated so that will record your bank details in their system via a 'backdoor' method. I prefer to initiate sending the money from my account as opposed to allowing somebody to pull the money at their instigation because I feel I have more control, but that's just a personal preference. When you make your first transfer you input the receiving Thai bank account details and those details are automatically remembered for future transfers. you can add other receiving more receiving bank details if you wish. 

 

Then to make a simple transfer, I just use the mobile TW APP, input the amount I want to transfer, click on the recipient account, choose the reason for the transfer and and the method I will use to make the payment. I choose Bank Transfer, switch to my UK banking APP, select send to TW and add the amount before returning to the TW APP to confirm money has been sent. The whole process takes me less than two minutes. within 2-3 minutes I receive an email confirming the transfer has been received along with a link to track it's progress, then, once the transfer arrives at my Thai bank I get a second email to confirm this and a link to a PDF showing the complete transfer process.

 

There is also the option of opening a TW Borderless Account, keep that in credit and top it up as and when, then just transfer funds to your Thai account when it suits you.

 

 

 

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1 minute ago, Jip99 said:
8 minutes ago, chang50 said:

You might not believe this but last month I did a transfer that took 5 mins from TW receiving my money to it appearing in my Thai bank.

 

 

2 minutes is my quickest.

 

That said, yesterday I got caught up in the “Your Transfer is taking a bit longer.....” and it arrived this morning.

I have found that if I start the transfer before 8:00am Thailand time I will receive the second email within a hour to confirm the transfer has arrived at my Bangkok Bank and can download the PDF to check it was a direct transfer that will have a FTT code. Bangkok Bank always update individual account at 2:00pm so that's when it actually shows in the account and can be used.

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15 hours ago, gk10002000 said:

That may be problematic since my USA phone and number probably will not work in Thailand.  Do they send confirmation or verification code notices and things that you are required to enter when doing transfers?

They use it when you attempt to log into the system on computer  - they send an SMS with code number if a different IP or whatever.  Receipt is immediate on my Thai number (must be a Thai source sending) so a good security measure.

Just checked - code in only valid for 5 minutes.

Edited by lopburi3
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I'm from the UK so there may be minor differences in the setup and using TW in the US but this is how to set up and complete simple transfers.
 
Once you've supplied your basic details they will open a simple TW account for you. They will give you your own TW account number (which is also used as a reference number for all transfers and correspondence) plus their bank account details for you to send the money to them. I gave my Skype (UK) phone number when I first set the account up and don't think I was asked for a mobile number, but I set my account up well over two years ago so that may now be a requirement. I've never given them my UK bank account details, but when sending money to them there is obviously a record created of where the transfer originated so that will record your bank details in their system via a 'backdoor' method. I prefer to initiate sending the money from my account as opposed to allowing somebody to pull the money at their instigation because I feel I have more control, but that's just a personal preference. When you make your first transfer you input the receiving Thai bank account details and those details are automatically remembered for future transfers. you can add other receiving more receiving bank details if you wish. 
 
Then to make a simple transfer, I just use the mobile TW APP, input the amount I want to transfer, click on the recipient account, choose the reason for the transfer and and the method I will use to make the payment. I choose Bank Transfer, switch to my UK banking APP, select send to TW and add the amount before returning to the TW APP to confirm money has been sent. The whole process takes me less than two minutes. within 2-3 minutes I receive an email confirming the transfer has been received along with a link to track it's progress, then, once the transfer arrives at my Thai bank I get a second email to confirm this and a link to a PDF showing the complete transfer process.
 
There is also the option of opening a TW Borderless Account, keep that in credit and top it up as and when, then just transfer funds to your Thai account when it suits you.
 
 
 
You don't mention the drop down box option, as if it isn't important
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1 hour ago, scubascuba3 said:

You don't mention the drop down box option, as if it isn't important

I did, I actually wrote (first part of the third paragraph):

 

Quote

Then to make a simple transfer, I just use the mobile TW APP, input the amount I want to transfer, click on the recipient account, choose the reason for the transfer and and the method I will use to make the payment.

There are four parts to completing that part of the transfer. All must be completed and you can't continue without completing all of them. They are therefore all equally important.

Edited by sumrit
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There are four parts to completing that part of the transfer. All must be completed and you can't continue without completing all of them. They are therefore all equally important.
Previous threads have indicated you have to specify the correct drop down choice otherwise it won't be processed as Intl payment
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3 minutes ago, scubascuba3 said:

Previous threads have indicated you have to specify the correct drop down choice otherwise it won't be processed as Intl payment

Yes, there are several options in that drop down box. But not everybody would choose the 'funds for long stay in Thailand' option. Do you expect me to list all of them instead of just saying you must choose a reason for the transfer without knowing his intentions????

 

I was replying to a poster who was wary of opening a TW account because he was unsure of the system. There was no indication of why he might want to use their services, and he certainly didn't mention highlighting an international transfer was required. So I simply advised him there was a choice of options. It's then up to the poster I was replying to to choose the option that best suited his needs. 

 

Because of his uncertainty, I posted a guideline on the simple process to successfully open an account and do a simple transfer using TW. If the poster requires any more detailed information he only has to ask (whether it be on the open forum or by PM) I will be more than happy to try and help him, as I'm sure many other will also.

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11 hours ago, sumrit said:

I'm from the UK so there may be minor differences in the setup and using TW in the US but this is how to set up and complete simple transfers.

 

Once you've supplied your basic details they will open a simple TW account for you. They will give you your own TW account number (which is also used as a reference number for all transfers and correspondence) plus their bank account details for you to send the money to them. I gave my Skype (UK) phone number when I first set the account up and don't think I was asked for a mobile number, but I set my account up well over two years ago so that may now be a requirement. I've never given them my UK bank account details, but when sending money to them there is obviously a record created of where the transfer originated so that will record your bank details in their system via a 'backdoor' method. I prefer to initiate sending the money from my account as opposed to allowing somebody to pull the money at their instigation because I feel I have more control, but that's just a personal preference. When you make your first transfer you input the receiving Thai bank account details and those details are automatically remembered for future transfers. you can add other receiving more receiving bank details if you wish. 

 

Then to make a simple transfer, I just use the mobile TW APP, input the amount I want to transfer, click on the recipient account, choose the reason for the transfer and and the method I will use to make the payment. I choose Bank Transfer, switch to my UK banking APP, select send to TW and add the amount before returning to the TW APP to confirm money has been sent. The whole process takes me less than two minutes. within 2-3 minutes I receive an email confirming the transfer has been received along with a link to track it's progress, then, once the transfer arrives at my Thai bank I get a second email to confirm this and a link to a PDF showing the complete transfer process.

 

There is also the option of opening a TW Borderless Account, keep that in credit and top it up as and when, then just transfer funds to your Thai account when it suits you.

 

 

 

Use an app?  I am still in the dark ages and do not use a smart phone.  Just voice and text on my old flip top (or maybe I should now call it a flip flop) 3 g phone!   All things I may have to change

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We should all be aware that despite the reason for transfer drop down now having the long stay in Thailand option available, Transferwise have said they still can not guarantee it will always show as an international transfer.  Keep a Plan B up to date to avoid a repeat of all the wailing from early July when things went wrong for a while.

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1 hour ago, gk10002000 said:

Use an app?  I am still in the dark ages and do not use a smart phone.  Just voice and text on my old flip top (or maybe I should now call it a flip flop) 3 g phone!   All things I may have to change

I would suggest you need to drag yourself forward to the present day and learn like the rest of us pensioners have. ????????

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4 minutes ago, sumrit said:

I would suggest you need to drag yourself forward to the present day and learn like the rest of us pensioners have. ????????

Need is a matter of degree.  I pay little for my communication device and it does all that I need.  I have a computer at home, and at work use them all day long, so at the moment: status quo. My biggest hangup is why it is so hard to keep ones' USA cell phone number while overseas.  One can pay a lot to your USA provider like ATT and they will "activate it", or you can use Republic wireless and other wifi to cell phone converter services, etc..  Frustrating in this day and age that constant mobile communication without changes has bottlenecks

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1 hour ago, treetops said:

We should all be aware that despite the reason for transfer drop down now having the long stay in Thailand option available, Transferwise have said they still can not guarantee it will always show as an international transfer.  Keep a Plan B up to date to avoid a repeat of all the wailing from early July when things went wrong for a while.

Nobody can guarantee 100% that there will never be an occasional blip in the system but what TW have done is talk to their three partner banks in Thailand who have agreed that should a rogue transfer go initially to the 'wrong' bank, that bank will supply us a 'Credit Advice Receipt' to confirm the transfer originated from abroad. Immigration at Si Racha told me that, because this document is supplied by a Thai bank, it will be acceptable.

 

I have used this system successfully twice so far. Firstly, when TW updated their software in early July I, like others, had my transfer sent via the Kasikorn Bank to my Bangkok Bank account. On request Kasikorn supplied me with a Credit Advice Receipt. It took less than a week to get and cost 200 baht. 

I also had a transfer go via TMB last November and, although I don't actually need to show where it originated from, I  decided to apply to TMB to see if their system worked. It does. They have a dedicated section at head office in Bangkok to deal with TW queries and I sent the documents they required via email last Thursday. They kept in touch on the progress and on Wednesday (two days ago) they contacted me to say the 'Credit Advice Receipt' had been delivered to my local TMB branch in Chonburi so I could collect it from there. There was no charge at all.

 

I don't know about anybody else but two successful requests for me and both supplied in less than a week.

 

Personally, I'm happy with the way TW have organised the system 

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37 minutes ago, gk10002000 said:

I pay little for my communication device and it does all that I need

Except allow you to use Apps obviously.????????????

 

Quote

 I have a computer at home, and at work use them all day long

No problem then. Personally I just find it easier, more practical and more convenient to use the Apps on my phone.

 

Reading what others from the US have said on TV, it does appear that both the banking system and the mobile phone system in the US is much more complex and difficult to use when compared to what we have in the UK. We can use the UK banking system from Thailand, via the internet, without any problems at all. I also have a UK sim that is fully accessible and usable in slot two of my mobile here in Thailand. 

Edited by sumrit
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30 minutes ago, sumrit said:

Except allow you to use Apps obviously.????????????

 

No problem then. Personally I just find it easier, more practical and more convenient to use the Apps on my phone.

 

Reading what others from the US have said on TV, it does appear that both the banking system and the mobile phone system in the US is much more complex and difficult to use when compared to what we have in the UK. We can use the UK banking system from Thailand, via the internet, without any problems at all. I also have a UK sim that is fully accessible and usable in slot two of my mobile here in Thailand. 

And there are no Apps that I need.  Granted some could be useful.

The US mobile system is fine.  It is overseas where charges and plans can become a challenge. 

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11 hours ago, scubascuba3 said:
12 hours ago, sumrit said:
There are four parts to completing that part of the transfer. All must be completed and you can't continue without completing all of them. They are therefore all equally important.

Previous threads have indicated you have to specify the correct drop down choice otherwise it won't be processed as Intl payment

More accurately, it may not get processed as an International payment... you make it sound like they would deliberately route it through a different Thai Bank. I expect if people do not have accounts at one of the 3 banks T/W use, that would likely still happen. 

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3 hours ago, gk10002000 said:

The US mobile system is fine.  It is overseas where charges and plans can become a challenge.

Sorry, I thought the US mobile phone system used different frequencies to most other parts of the world, meaning you could use your US sim card anywhere but would need to buy a different phone to put it in while in Thailand for example. I thought US phones didn't work on Thailand's mobile system. Maybe it's just older phones. Apologies if I'm wrong.

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1 minute ago, sumrit said:

Sorry, I thought the US mobile phone system used different frequencies to most other parts of the world, meaning you could use your US sim card anywhere but would need to buy a different phone to put it in while in Thailand for example. I thought US phones didn't work on Thailand's mobile system. Maybe it's just older phones. Apologies if I'm wrong.

No problem.  yeah, even my 3 g flip top phone works in Thailand and has the right frequencies.  I just had to pay my ATT carrier a little extra to use it while on my latest vacation there.

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More accurately, it may not get processed as an International payment... you make it sound like they would deliberately route it through a different Thai Bank. I expect if people do not have accounts at one of the 3 banks T/W use, that would likely still happen. 
Nope. Previous threads have said if the transaction is not tagged to use the same partner bank as your bank then they may use one of the other 2 partner banks. Also if the correct drop down option isn't chosen it may be processed as domestic
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57 minutes ago, scubascuba3 said:

Nope. Previous threads have said if the transaction is not tagged to use the same partner bank as your bank then they may use one of the other 2 partner banks. Also if the correct drop down option isn't chosen it may be processed as domestic

 

4 hours ago, jacko45k said:

More accurately, it may not get processed as an International payment... you make it sound like they would deliberately route it through a different Thai Bank. I expect if people do not have accounts at one of the 3 banks T/W use, that would likely still happen. 

Firstly, if you use TW and want your transfers to arrive as an International transfer your Thai account must be with one of TW's three partner banks, Bangkok Bank, Kasikorn or TMB.

 

If TW advise that you need to tag your account to your chosen Thai partner bank common sense says that's what you should do. Why would you not do that? And if you're further advised to choose the 'funds for extended stay in Thailand' option in the drop down box why would you choose another option??

 

If you want your transfers to arrive directly to your Thai bank account, it's not rocket science, you use the system that TW have set up and advise. Why would you use different options and still expect your transfers to arrive as you would like it to.

 

 And remember, should on a rare occasion, your transfer doesn't arrive with the correct coding, TW have arranged with their partner banks that they will supply a Credit Advice Receipt to prove where it originated from to satisfy Immigration.

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