Bank Transfers For Visa Extension

[OneeyedJohn]

I use transferwise to my SCB a/c and have never bothered with the reason, other than to just click the first one that comes up, whatever it is, true or not.

And my bank book will just show X1 as the code, no FTT or TRD <deleted>, and I have used TW for 2 years or more.

My visa extension in January was processed with no questions asked.

[john terry1001]

6 minutes ago, tlesher said:

Transferwise uses Kasikorn, I use Bangkok bank, its random how it gets there, coded FTT if direct from overseas to Bangkok Bank, TRD if it goes through Kasikorn first. 

Transferwise uses three Thai banks as partner banks, Bangkok bank, Kasikorn and TMB. If you use one of these three banks AND set up the transfer correctly it will be recorded as an international transfer. Use any other Thai bank or set up the transfer INCORRECTLY  and it will appear as a local interbank transfer.

 

To set up the Transfer correctly:

Firstly Inform Transferwise of the Thai bank you will be using  and ask them to tag it on your transferwise account (this only has to be done once). When making a transfer, select the amount you want to send, put the Thai bank account details of the Thai bank you intend using in the ‘send to section’. (this will be stored on your account to use for all future transfers. Next, select the reason for your transfer in the drop down box as ‘funds for long term stay in Thailand’. Finally, choose your payment method (eg; bank transfer) and make the payment to them.

 

 

 

[Max69xl]

1 minute ago, Moonlover said:

This FTT code that so many people seem to have 'busting a gut' over is not the holy grail of international transfers. Many banks do not use them when receiving fund from TransferWise, including my own, Krungrsi. That despite flagging the transfer as "Funds for long term stay in Thailand". It's a myth.

 

But it is not an issue. There have quite a few reports now of successful extensions, including my own by presenting the previously mentioned transfer slips downloaded from T/W web site. They provide irrefutable evidence that the funds came from a foreign source.

 

I was one of the first to do this back in August last year and had no problem.

You don't seem to understand that correct bank code is only for TW's 3 partner banks. Krungsri is not one of them. So, don't argue against better knowledge. I have been using TW monthly since 2017. I know exactly how it works,but you don't.

[john terry1001]

25 minutes ago, PST said:

would this work, and be accepted by an IO if arriving in an SCB account?

If using SCB the transfer would be coded as a local domestic transfer in your SCB bank account

Edited March 24, 2020 by john terry1001

[Max69xl]

3 minutes ago, OneeyedJohn said:

I use transferwise to my SCB a/c and have never bothered with the reason, other than to just click the first one that comes up, whatever it is, true or not.

And my bank book will just show X1 as the code, no FTT or TRD <deleted>, and I have used TW for 2 years or more.

My visa extension in January was processed with no questions asked.

It depends on the immigration office. Last year at several offices the application got denied because of wrong bank code. But immigration have learned about transfers since then and realizes that banks shows foreign transfers in different ways. 

[stouricks]

1 hour ago, stouricks said:

Last month Bht 50k was £1230, today £1315, so the transfer fee went up from £8.95 to £9.15.....just can't win.

What are you confused about Moonlover?

[OneeyedJohn]

U mean different banks show different transfers in different ways.

Unless u have bank accounts with all the different banks in Thailand please don't try to come across as all knowledgeable about all things Transferwise. Other people have been using TW as long , if not longer than you.

[john terry1001]

35 minutes ago, Mr Smithy said:

Are you sure about that? Funds transferred between Thai banks are always coded as Domestic Transfers 

That is definitely correct. Transferwise uses three Thai partner banks, Bangkok, Kasikorn anD TMB. If you have an account with one of those banks and transfer directly into that account using Transferwise it will show up as an International transfer.

 

If you use a different Thai bank (eg:SCB) the Transferwise transfer will always initially go via one of their partner banks (eg: Bangkok bank) then immediately be forwarded to your own bank (eg: SCB). Because the transfer has gone between the two Thai banks it will always be shown as a local (interbank domestic) transfer in your own account.

Edited March 24, 2020 by john terry1001

[Peter Denis]

20 minutes ago, Max69xl said:

You don't seem to understand that correct bank code is only for TW's 3 partner banks. Krungsri is not one of them. So, don't argue against better knowledge. I have been using TW monthly since 2017. I know exactly how it works,but you don't.

Why always this aggression?

@Moonloveris fully correct that most IOs will accept the evidence provided by the TransferWise PDF transfer-receipts.

So even if your bank-book or 12-month statement will not show that it is a foreign transfer (because you have a different bank than one of their partner-banks, or your transfer has by accident not been transfered directly to your thai bank-account), those transfer-receipts are clear evidence that the funds originated from abroad. 

[OneeyedJohn]

19 minutes ago, john terry1001 said:

That is definitely correct. Transferwise uses three Thai partner banks, Bangkok, Kasikorn anD TMB. If you have an account with one of those banks and transfer directly into that account using Transferwise it will show up as an International transfer.

 

If you use a different Thai bank (eg:SCB) the Transferwise transfer will always initially go via one of their partner banks (eg: Bangkok bank) then immediately be forwarded to your own bank (eg: SCB). Because the transfer has gone between the two Thai banks it will always be shown as a local (interbank domestic) transfer in your own account.

OK, so tell me how the SCB shows an international transfer in my bank book, as opposed to a local (interbank domestic ) transfer - your words.

And while your at it, tell me how they would show these transfers when they are grouped together after a lengthy lapse between bank book updates. I will give u a clue, it is called 'condensed no book deposits'.

[john terry1001]

5 minutes ago, Peter Denis said:

Why always this aggression?

@Moonloveris fully correct that most IOs will accept the evidence provided by the TransferWise PDF transfer-receipts.

So even if your bank-book or 12-month statement will not show that it is a foreign transfer (because you have a different bank than one of their partner-banks, or your transfer has by accident not been transfered directly to your thai bank-account), those transfer-receipts are clear evidence that the funds originated from abroad. 

 I agree Peter that some IO's will accept transfers that are coded domestic transfers BUT not all IO's will accept it. Si Racha, for example not only insist that every single transfer is coded as international, they also insist on seeing where the foreign transfer originates (eg: Pensions) and the method of transfer (eg: Transferwise). I don't know if Jomtien are the same but they are part of Chonburi immigration and use the same required documents list. I'm sure there will be other offices around the country that a just as diligent as Si Racha.

 

Looking closely at Si Racha I don't think they were fully aware of what was required so were double checking everything. 

[Peter Denis]

3 minutes ago, OneeyedJohn said:

OK, so tell me how the SCB shows an international transfer in my bank book, as opposed to a local (interbank domestic ) transfer - your words.

And while your at it, tell me how they would show these transfers when they are grouped together after a lengthy lapse between bank book updates. I will give u a clue, it is called 'condensed no book deposits'.

@john terry1001 is 100% correct.

Because of the way TransferWise works, when you make use of their service and your bank is not one of their partner-banks, the transfer will always show up as a 'domestic transfer' on your bank-account.  Simply because it IS a domestic transfer, since TW will order one of their partner-banks to transfer the money on your account.

But as mentioned that does not have to be a problem because the PDF transfer-receipts you can generate after making use of TransferWise will provide clear evidence of a transfer from your foreign bank to your thai bank-account, and these PDF transfer-receipts are accepted by most (if not all) IOs.

[john terry1001]

12 minutes ago, OneeyedJohn said:

OK, so tell me how the SCB shows an international transfer in my bank book, as opposed to a local (interbank domestic ) transfer - your words.

And while your at it, tell me how they would show these transfers when they are grouped together after a lengthy lapse between bank book updates. I will give u a clue, it is called 'condensed no book deposits'.

You would need to transfer directly from your UK account using the SWIFT system.

 

You need to learn and understand how the Transferwise operation works.

Edited March 24, 2020 by john terry1001

[Moonlover]

1 hour ago, Max69xl said:

You don't seem to understand that correct bank code is only for TW's 3 partner banks. Krungsri is not one of them. So, don't argue against better knowledge. I have been using TW monthly since 2017. I know exactly how it works,but you don't.

I understand how it works perfectly well thank you and I'm not arguing against anything.

 

I am simply dispelling the myth and it is just a myth, that the FTT codes are a vital requirement. There were many folks tearing the hair out over this issue last year, until I and another's succeeded in getting their extensions without them. That's all.

 

Edited March 24, 2020 by Moonlover

[Moonlover]

1 hour ago, john terry1001 said:

 I agree Peter that some IO's will accept transfers that are coded domestic transfers BUT not all IO's will accept it. Si Racha, for example not only insist that every single transfer is coded as international, they also insist on seeing where the foreign transfer originates (eg: Pensions) and the method of transfer (eg: Transferwise). I don't know if Jomtien are the same but they are part of Chonburi immigration and use the same required documents list. I'm sure there will be other offices around the country that a just as diligent as Si Racha.

 

Looking closely at Si Racha I don't think they were fully aware of what was required so were double checking everything. 

Asking for evidence of a sustainable income is, apparently, commonplace. And it really shouldn't be any surprise to us. After all that is what the British embassy's letter used to do on our behalf prior to their withdrawal. (I can't speak for the others embassies of course)

 

When I made my application the I/O was familiar with TransferWise and was not concerned at all about the bank codes. (I don't think he even looked at them) But he wanted to see evidence of income.

[jacko45k]

12 hours ago, PST said:

So my Thai bank would not charge anything?, the amount i send is the amount i recieve?

Oh if it were to be so simple. A Transferwise transfer usually does not incur a local charge (as it arrives in baht and it is clear in the process how many you will get), but one has to be careful to ensure it gets the 'Foreign' tag. A BACS transfer arrives as Sterling in my case, and there is a local charge for conversion, the rate can also fluctuate between sending and being received. 

[john terry1001]

8 minutes ago, jacko45k said:

Oh if it were to be so simple. A Transferwise transfer usually does not incur a local charge (as it arrives in baht and it is clear in the process how many you will get), but one has to be careful to ensure it gets the 'Foreign' tag.

Use the transfer process recommended by Transferwise and your transfer WILL arrive with the 'foreign tag' you mention. It is that simple. Plus there is no charge by the Thai bank, there is a small charge made by Transferwise, it arrives the same/next day and they guarantee the exchange rate you will receive (at the better mid market rate), unlike the BACS system you mention which (usually) takes longer, doesn't guarantee the (lower) exchange rate they offer when you make the transfer, plus the Thai bank will also make a (200-500 baht) charge as well as your home country bank.

[jacko45k]

1 minute ago, john terry1001 said:

there is a small charge made by Transferwise

Only if one uses the banks TW deal with.

It is not always a small charge... it is dependent on the amount transferred and can be more than the common $20-$30 BACS charge from the banks. My bank charges zero and is usually faster than Transferwise. But their better exchange rate covers  it.  

[JimmyJ]

10 hours ago, Moonlover said:

Asking for evidence of a sustainable income is, apparently, commonplace. And it really shouldn't be any surprise to us. After all that is what the British embassy's letter used to do on our behalf prior to their withdrawal. (I can't speak for the others embassies of course)

 

When I made my application the I/O was familiar with TransferWise and was not concerned at all about the bank codes. (I don't think he even looked at them) But he wanted to see evidence of income.

"Asking for evidence of a sustainable income is, apparently, commonplace."

 

I assume (and hope) you are referring to the monthly deposit method of obtaining the annual retirement extension and not the one time 800k deposit method as one is retired and can simply be depositing savings in that case?

Edited March 25, 2020 by JimmyJ

[Moonlover]

18 minutes ago, JimmyJ said:

"Asking for evidence of a sustainable income is, apparently, commonplace."

 

I assume (and hope) you are referring to the monthly deposit method of obtaining the annual retirement extension and not the one time 800k deposit method as one is retired and can simply be depositing savings in that case?

The whole discussion for the last four pages has been about the monthly income method!

[Peter Denis]

5 minutes ago, Moonlover said:

The whole discussion for the last four pages has been about the monthly income method!

That's correct. 

However to answer @JimmyJ question, if you apply at your local IO for a NEW Non Imm O Visa, and you want to use the money-in-bank method to meet the financial requirements (800K for retirement / 400K for marriage), you also need to provide evidence of their foreign origin.

Note: In case you are not able anymore to prove this foreign origin (e.g. because the funds have been seasoned already for some time on your account, and you IO still insists on proof of its foreign origin) you can either

- transfer the funds out and back in again (a crazy and expensive exercise as that would incur twice a currency conversion with associated costs);

- apply at a thai consulate/embassy abroad (e.g. Savannakhet) that does not require proof of foreign origin. 

[john terry1001]

3 hours ago, jacko45k said:

Only if one uses the banks TW deal with.

If using the monthly income option, TW have a system that is reliable and cheaper than other banking systems. You can open a bank account in any one of the three partner banks that TW use and will have no problems at all. Why would you choose to use a different Thai Bank that could confuse things and make it much more difficult when applying for extensions at Immigration, plus (possibly) involve having to get a Credit Advice Receipt for every transfer you've made to your non partner Thai bank (if the IO insists on seeing one of course. They do in Si Racha)

 

Sending 65k baht at today's rate would cost £11.04 ($13), sending 40k baht would cost £7.30 ($8.30) when using TW.

Edited March 25, 2020 by john terry1001

[JimmyJ]

2 hours ago, Peter Denis said:

That's correct. 

However to answer @JimmyJ question, if you apply at your local IO for a NEW Non Imm O Visa, and you want to use the money-in-bank method to meet the financial requirements (800K for retirement / 400K for marriage), you also need to provide evidence of their foreign origin.

Note: In case you are not able anymore to prove this foreign origin (e.g. because the funds have been seasoned already for some time on your account, and you IO still insists on proof of its foreign origin) you can either

- transfer the funds out and back in again (a crazy and expensive exercise as that would incur twice a currency conversion with associated costs);

- apply at a thai consulate/embassy abroad (e.g. Savannakhet) that does not require proof of foreign origin. 

I haven't wired it yet, but in June planning to wire 800k THB equivalent.

Will NOT be using Transferwise but wiring from a regional USA bank to my Bangkok Bank account.

 

(I'm fully aware of Transferwise but in my case I don't feel comfortable using it).

 

Since it's a smaller bank I will be wiring from, I'm sure they will be using an intermediary bank.

 

I do not know if the intermediary will wire it directly to Bangkok Bank or not.

 

If it goes to another Thai bank, will the IO accept a printout of my USA bank statement showing the funds withdrawn, some sort of record from my bank showing evidece of the wire going out from the initial bank, and my Bangkok Bank statement showing the funds arrive?

 

I'll get the name of the intermediary bank that is usually used and if possible find out if they wire directly to BB. 

 

Again, I'm aware of Transferwise and it seems a great service in many cases but in this case I will not be using them.

 

 

[john terry1001]

2 hours ago, JimmyJ said:

I haven't wired it yet, but in June planning to wire 800k THB equivalent.

Will NOT be using Transferwise but wiring from a regional USA bank to my Bangkok Bank account.

 

(I'm fully aware of Transferwise but in my case I don't feel comfortable using it).

 

Since it's a smaller bank I will be wiring from, I'm sure they will be using an intermediary bank.

 

I do not know if the intermediary will wire it directly to Bangkok Bank or not.

 

If it goes to another Thai bank, will the IO accept a printout of my USA bank statement showing the funds withdrawn, some sort of record from my bank showing evidece of the wire going out from the initial bank, and my Bangkok Bank statement showing the funds arrive?

 

I'll get the name of the intermediary bank that is usually used and if possible find out if they wire directly to BB. 

 

Again, I'm aware of Transferwise and it seems a great service in many cases but in this case I will not be using them.

 

 

Assuming Immigration insists on seeing proof of an international transfer (ask your local office first as not all do):

 

If your transfer goes to an intermediary Thai bank and then forwarded to your Bangkok Bank (with the transfer coded in your account as a local/domestic transfer, usually 'SMART'), you go to that intermediary Thai bank with all the details of the transfer, both from your US bank and your Bangkok Bank and ask them for a CREDIT ADVICE RECEIPT. they will be able to trace the transfer and provide the proof that the money did indeed come from the US. The intermediary bank usually charges 200-500 baht for this service and takes about a week.

 

However, if the code for the transfer shows in your Bangkok Bank account as 'BAHTNET' then it will have arrived via the BOT (Bank of Thailand). In this instance you will need to go to your own Bangkok Bank branch to obtain the Credit Advice Receipt.

[PST]

I started the thread, so thanks for all the advice, but am i correct in saying that if i simply transferred the funds direct from my UK bank to SCB here, and didn't use transferwise, it would 100% be shown as a foreign transfer on my statement/bank book, thus avoiding any issues at immigration?.

[Peter Denis]

9 minutes ago, PST said:

I started the thread, so thanks for all the advice, but am i correct in saying that if i simply transferred the funds direct from my UK bank to SCB here, and didn't use transferwise, it would 100% be shown as a foreign transfer on my statement/bank book, thus avoiding any issues at immigration?.

No, it will not be 100% sure that your transfer would be shown as a foreign transfer on your bank-book / 12 month statement.

Your question has been answered by @john terry1001 in the previous post #54.

It depends whether the transfer is transfered DIRECTLY to your SCB bank-account (and whether SCB mentions the transfer-code next to your transfer on your bank-book or 12-month statement).  But as John Terry pointed out, if that's not the case you can ask your bank or the intermediate bank to provide you with a Credit Advice Receipt, when the routing of the transfer was not direct but through another bank or through your bank's Headquarter.

Edited March 25, 2020 by Peter Denis

[john terry1001]

Just now, PST said:

I started the thread, so thanks for all the advice, but am i correct in saying that if i simply transferred the funds direct from my UK bank to SCB here, and didn't use transferwise, it would 100% be shown as a foreign transfer on my statement/bank book, thus avoiding any issues at immigration?.

No, unfortunately not always, at least according to Lloyds, HSBC, and Halifax when I contacted them last year.

 

In the past when I used to transfer direct almost all transfers arrived international but two (both from HSBC) showed up as domestic transfers. When I contacted them they explained that they would usually use the same route and there wouldn't be a problem but on both the transfers in question there was a technical 'hickup' so the transfers were sent via a different route to prevent delay and they both ended up as domestic and they had no control over that. They did assure me it was 'rare' for that to happen. Although I'd not had any problems myself, both Lloyds and Halifax told me exactly the same.

 

So although rare, you it's not guaranteed and you could have a similar problem.

[Moonlover]

4 hours ago, john terry1001 said:

If using the monthly income option, TW have a system that is reliable and cheaper than other banking systems. You can open a bank account in any one of the three partner banks that TW use and will have no problems at all. Why would you choose to use a different Thai Bank that could confuse things and make it much more difficult when applying for extensions at Immigration, plus (possibly) involve having to get a Credit Advice Receipt for every transfer you've made to your non partner Thai bank (if the IO insists on seeing one of course. They do in Si Racha)

 

Sending 65k baht at today's rate would cost £11.04 ($13), sending 40k baht would cost £7.30 ($8.30) when using TW.

A very lofty comment which ignores two important issues. Firstly it's a rare foreigner who manages to get the bank of his choosing. Nearly all us can relate to tales of tramping around the streets and malls, searching for a bank branch that is condescending enough to grant the foreigner permission to bank with them. Most foreigners are banking with the institute that chose them, not the other way round.

 

And the second point is that, as has been mentioned numerous times in many threads, An international coding on ones bank statement (or book) is not a vital necessity. Many people have reported a successful extension using the downloaded T/W transfer slip, including me. In fact, I suspect that if I was to show my I/O in sleepy Sakon Nakhon a TFF code, he'd probably ask to see proof that it's an international one!

 

Having said all that, these exceptions apart, I fully endorse your comments regarding TransferWise. They have made the income method much easier than it would have been had I stuck to my previous arrangement of have my pensions paid directly into my local account. With far less paperwork involved. And as all of it can be done on-line I only needed to make one visit to the bank to obtain the standard letter from them. Cool eh! ????

 

 

 

Edited March 25, 2020 by Moonlover

[PST]

16 minutes ago, Moonlover said:

 

 

5 hours ago, john terry1001 said:

If using the monthly income option, TW have a system that is reliable and cheaper than other banking systems. You can open a bank account in any one of the three partner banks that TW use and will have no problems at all. Why would you choose to use a different Thai Bank that could confuse things and make it much more difficult when applying for extensions at Immigration, plus (possibly) involve having to get a Credit Advice Receipt for every transfer you've made to your non partner Thai bank (if the IO insists on seeing one of course. They do in Si Racha)

So using the monthly option, the above is almost a guarantee using Bangkok Bank,,,have any previous posters had experience at Phuket with this, or any other transfer methods?

Edited March 25, 2020 by PST

[Peter Denis]

11 minutes ago, john terry1001 said:

So although rare, you it's not guaranteed and you could have a similar problem.

In response to @PST query.

Conclusion:

Since it is not 100% sure that a transfer from your foreign bank-account to your thai SCB bank-account would show up with the required 'foreign transfer-code' on your SCB bank-book or 12-month statement, you might as well use TransferWise to do the transfer.

They would route your transfer via Bangkok Bank, Kasikorn Bank or TMB bank, and it would show up as 'domestic transfer' on your SCB bank-book / 12-month statement.

But to provide evidence that it was a foreign exchange you could do either (or both):

- Contact SCB and the intermediary bank for a Credit Advice Receipt of the transfer;

- Print the PDF Transfer-receipt of the TransferWise transfer (which will show the full routing from your foreign bank-account via one of their Partner-banks to your SCB bank-account.

The advantage being of course that you would be charged the mid-exchange rate (the best and 'real' exchange rate) on the moment that you pressed the GO button on the TW-website, and it would only incur the relatively small TW service-fee.

>> No, I don't have any shares of TW but as far as I know it is in majority of cases far cheaper and quicker than any other route, and is fully transparent from beginning till end.  Hence my recommendation of their excellent service.