Bank Transfers For Visa Extension

[john terry1001]

2 minutes ago, Moonlover said:

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.

Just to clarify your points:

I live in Chonburi and. personally, I haven't had any problems opening any bank accounts. I have Kasikorn (opened many years ago using my passport), Krung Thai (opened two years ago using my pink ID card and yellow book only), Thanachart (also two years ago using just my ID card and yellow book) and Bangkok Bank in January last year (which was a bit more involved. No bank has refused me but I have seen threads where people have had problems. I have met a couple of people who said they were refused a 'basic current account' (a UK term for a basic account, but in Thailand it's called a saving account so was simply lost in translation.

 

Maybe, instead of tramping the streets, people could start on this forum by stating where they live and asking members here what banks are 'friendly'.

 

3 minutes ago, Moonlover said:

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!

While I fully agree that some people have only needed TW PDF's, and the bank coding is not insisted on, but that is not always the case. My local office, at Si Racha in Chonburi,  insist on both (I did my marriage extension just four weeks ago). 

 

People need to know what they may need to supply for their own Immigration Office, not what others elsewhere have supplied in the past.

[Peter Denis]

9 minutes ago, PST said:

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?

Yes, if you have a Bangkok Bank thai bank-account (and followed the 4 steps John Terry laid out in an earlier post) it is an almost guarantee that the transfers with TW will show up on your thai bank-book as 'FTT' (international transfer). 
It is not a full guarantee when you do this with Kasikorn Bank (but you can of course ask them for the Credit Advice Receipt), and it is even less certain when you use TMB (but also there you can ask for the Credit Advice Receipt in case the transfers do not bear the necessary 'international transfer' code).

[PST]

3 minutes ago, Peter Denis said:

Yes, if you have a Bangkok Bank thai bank-account (and followed the 4 steps John Terry laid out in an earlier post) it is an almost guarantee that the transfers with TW will show up on your thai bank-book as 'FTT' (international transfer). 
It is not a full guarantee when you do this with Kasikorn Bank (but you can of course ask them for the Credit Advice Receipt), and it is even less certain when you use TMB (but also there you can ask for the Credit Advice Receipt in case the transfers do not bear the necessary 'international transfer' code).

Thanks, i missed the 4 steps post, what number post is it please?

[Peter Denis]

1 minute ago, PST said:

Thanks, i missed the 4 steps post, what number post is it please?

The transfer WILL - in majority of cases - show up in your Thai bank account as an International Transfer WHEN:

1. your account is from one of the three partner banks TW use (Bangkok bank, Kasikorn bank and TMB > Bangkok Bank being the most reliable of the three);

2. you have (previously) requested that TW tag that bank as your preferred direct transfer route (you only have to do this once, NOT for every transfer)

3. you designate that account as the receiving Thai account on your transfer applications and

4. you choose the "long term stay in Thailand option in the reason for transfer in your transfer applications.

If your Thai bank-account is NOT with one of the three partner banks TW WILL still route your transfer via one of those three banks, to be forwarded (immediately) to your own account. But, because the final leg of the transfer is between two Thai banks the code shown in your own bank account will be a "local transfer" code and NOT an International Transfer.

 

[Moonlover]

5 minutes ago, john terry1001 said:

While I fully agree that some people have only needed TW PDF's, and the bank coding is not insisted on, but that is not always the case. My local office, at Si Racha in Chonburi,  insist on both (I did my marriage extension just four weeks ago). 

 

People need to know what they may need to supply for their own Immigration Office, not what others elsewhere have supplied in the past.

Point taken. However have you heard of anyone actually being refused an extension because, in the view of the I/O they have the wrong coding on their bank statement? Surely Immigration must be aware by now that there cannot possibly be 'one size fits all'  when it comes to proving income. There are too many permutations.

 

Personally I would certainly regard a rejection of this nature as grounds for an appeal. And my wife certainly would! ????

 

[john terry1001]

15 minutes ago, PST said:

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?

In July last year (2019) went to the trouble of updating their software and make it more compatible with their Thai partner banks purely to accommodate us expats living long term in Thailand. Since then, to the best of my knowledge, nobody has had any problems (as long as they follow TW's recommended guidelines of course). 

 

I don't know of any other finance house that has gone to those lengths to satisfy their customers here in Thailand.

 

And like @PeterDenis, I have no connection with TW whatsoever. 

[Peter Denis]

14 minutes ago, john terry1001 said:

...

While I fully agree that some people have only needed TW PDF's, and the bank coding is not insisted on, but that is not always the case. My local office, at Si Racha in Chonburi,  insist on both (I did my marriage extension just four weeks ago).

People need to know what they may need to supply for their own Immigration Office, not what others elsewhere have supplied in the past.

I agree with the above.

The Immigration Office wants evidence that the transfers that have been made originated from abroad.  But the majority of immigration officers are not familiar with bank-codes next to the transfers being made (every thai bank uses different codes).

So, the TW transfer-receipt is actually a 'blessing in disguise' for IO as it clearly shows the foreign bank origin and the thai-bank recipient and the amounts will match 100% with the amounts in your thai bank-book and 12 month statement.

[PST]

3 minutes ago, Peter Denis said:

I agree with the above.

The Immigration Office wants evidence that the transfers that have been made originated from abroad.  But the majority of immigration officers are not familiar with bank-codes next to the transfers being made (every thai bank uses different codes).

So, the TW transfer-receipt is actually a 'blessing in disguise' for IO as it clearly shows the foreign bank origin and the thai-bank recipient and the amounts will match 100% with the amounts in your thai bank-book and 12 month statement.

And the T/W receipt /pdf can also been used with Bangkok Bank too as further proof?, or just the non affiliated banks, SCB etc?

[john terry1001]

5 minutes ago, PST said:

And the T/W receipt /pdf can also been used with Bangkok Bank too as further proof?, or just the non affiliated banks, SCB etc?

As usual it's at the IO's discretion.

[Peter Denis]

2 minutes ago, PST said:

And the T/W receipt /pdf can also been used with Bangkok Bank too as further proof?, or just the non affiliated banks, SCB etc?

A TW transfer-receipt (PDF-format) is generated with EVERY TW transfer, and it provides irrefutable evidence that the funds originated from your foreign bank-account and were transfered to your thai bank-account.

They are not needed when your thai bank-book or 12-month bank-statement displays the correct international transfer-code next to the transfer you have made, but it will never hurt to have them as back-up evidence (especially if there was a hick-up in how your foreign funds were transfered to your thai bank-account, and they are displayed as 'domestic transfer').

[PST]

If for whatever reason my proof of transfer was rejected by immigration, and extension denied, could i simply transfer the money back to mY UK account straight away using transferwise?

[Peter Denis]

1 minute ago, PST said:

If for whatever reason my proof of transfer was rejected by immigration, and extension denied, could i simply transfer the money back to mY UK account straight away using transferwise?

With TransferWise you cannot transfer money OUT of Thailand.

There is however another - not associated - financial service-provider called DEEmoney that allows you to do this.

[PST]

2 minutes ago, Peter Denis said:

With TransferWise you cannot transfer money OUT of Thailand.

There is however another - not associated - financial service-provider called DEEmoney that allows you to do this.

So it could be sent from my Thai bank straight to deemoney, then deemoney to my uk bank?, or do i need to withdraw from my Thai bank, and take it to deemoney?

[Peter Denis]

12 minutes ago, PST said:

So it could be sent from my Thai bank straight to deemoney, then deemoney to my uk bank?, or do i need to withdraw from my Thai bank, and take it to deemoney?

Don't know how it actually works as I have never used their service.

You can check out their website for more details.

[PST]

How about International Swift transfer from my UK Bank to Bangkok Bank?, would that come in as an FTT?

[Peter Denis]

3 minutes ago, PST said:

How about International Swift transfer from my UK Bank to Bangkok Bank?, would that come in as an FTT?

Possible but not 100% sure as it depends on the routing of the funds > see @john terry1001's response #54

[john terry1001]

2 hours ago, Peter Denis said:

2 hours ago, PST said:

How about International Swift transfer from my UK Bank to Bangkok Bank?, would that come in as an FTT?

Possible but not 100% sure as it depends on the routing of the funds > see @john terry1001's response #54

If your swift transfer arrives as a domestic (SMART) transfer you simply go to the intermediary Thai bank and obtain a Credit Advice Receipt. If it arrives domestic (BAHTNET), it has arrived via BOT so you go to your own Thai bank to get the Credit Advice Receipt.

 

Just remember the exchange rate with SWIFT will be lower than Transferwise.

[lopburi3]

1 minute ago, john terry1001 said:

Just remember the exchange rate with SWIFT will be lower than Transferwise.

And make very sure you send foreign currency as if baht is obtained in home country there will almost always be a huge loss.

[PST]

10 hours ago, john terry1001 said:

If your swift transfer arrives as a domestic (SMART) transfer you simply go to the intermediary Thai bank and obtain a Credit Advice Receipt. If it arrives domestic (BAHTNET), it has arrived via BOT so you go to your own Thai bank to get the Credit Advice Receipt.

 

Just remember the exchange rate with SWIFT will be lower than Transferwise.

So i can go to any local intermidiate bank?

[PST]

Ok, so basicaly, i have the following choices,,,,,

 

1) Stay with my current bank scb, and use transferwise

2) Stay with my current bank and use an International swift transfer

3) Open a Bangkok Bank account and use Transferwise

4) Open a Bangkok Bank account and use International swift transfer

 

Correct?, which option would save me messing around with credit advise reciepts etc etc, and which option is the best in general???

[jacko45k]

32 minutes ago, PST said:

Ok, so basicaly, i have the following choices,,,,,

 

1) Stay with my current bank scb, and use transferwise

2) Stay with my current bank and use an International swift transfer

3) Open a Bangkok Bank account and use Transferwise

4) Open a Bangkok Bank account and use International swift transfer

 

Correct?, which option would save me messing around with credit advise reciepts etc etc, and which option is the best in general???

Only 3) is certain. 

2) and  4) may depend on whether your foreign bank goes via another clearing bank. In my  case, having a Bangkok Bank acct, I know 4) is good too.

In general I would say 3) is best as Transferwise offers the better rates, you know for sure how much you receive as the rate is locked by T/W, and no charge when it arrives at BB. 

Edited March 26, 2020 by jacko45k

[PST]

4 minutes ago, jacko45k said:

Only 3) is certain. 

2) and  4) may depend on whether your foreign bank goes via another clearing bank. In my  case, having a Bangkok Bank acct, I know 4) is good too.

In general I would say 2) is best as Transferwise offers the better rates, you know for sure how much you receive as the rate is locked by T/W, and no charge when it arrives at BB. 

2) dosent mention transferwise, its international swift.

[jacko45k]

3 minutes ago, PST said:

2) dosent mention transferwise, its international swift.

Thanks... got an edit in before I was locked out. I am not sleeping well lately and a bit groggy!

[PST]

Thanks, much appreciated. Regarding TW, i presume i need to set up some sort of account?, do i then simply give TW the sending and receiving banks details, and the amount, then TW does the rest?

[jacko45k]

1 minute ago, PST said:

Thanks, much appreciated. Regarding TW, i presume i need to set up some sort of account?, do i then simply give TW the sending and receiving banks details, and the amount, then TW does the rest?

Yeah, they want a scan in of your passport or some other ID and you create an account with them. Usually you give them the details of the receiving account in Thailand and then send the money to Transferwise, which can be a Bacs, payment from a credit card, or TW can pull the money. 

It is pretty straightforward. 

 

[Peter Denis]

3 hours ago, PST said:

Ok, so basicaly, i have the following choices,,,,,

 

1) Stay with my current bank scb, and use transferwise

2) Stay with my current bank and use an International swift transfer

3) Open a Bangkok Bank account and use Transferwise

4) Open a Bangkok Bank account and use International swift transfer

 

Correct?, which option would save me messing around with credit advise reciepts etc etc, and which option is the best in general???

• Options 2/4 involve an international swift transfer, and - apart from the higher exchange rate costs - are not 100% guaranteed to show up as 'international transfer' on your bank-book (they might be routed via an intermediate bank or the Bank of Thailand, which will then necessitate you requesting a Credit Advice receipt to prove the foreign origin).
• Option 3 will be 100% sure show up as an international transfer on your BangkokBank bank-book, provided you followed the 4-step process I posted earlier (even without following those steps, chances are high it will show up as an international transfer)
• Option 1 will 100% sure NOT show up as an international transfer, as TransferWise will have the funds paid to your SCB account using one of their 3 thai partner-banks.  But you can contact the partner-bank through which the funds have been routed and ask for a Credit Advice Receipt (costs somewhere between 0 and 300 THB).  And of course you can also generate the PDF transfer-receipt of the TransferWise transfer, which will show both your originating foreign bank and your thai bank-account as well as the date/amount that thas been transfered which will match exactly with what your thai bank-book will state.

 

[PST]

Thanks again Peter, and everyone for all your help on this. I'm going to roll with option 3, and do a small test transfer first.

[Peter Denis]

9 minutes ago, PST said:

Thanks again Peter, and everyone for all your help on this. I'm going to roll with option 3, and do a small test transfer first.

The first transfer you do with TransferWise is service-fee free till a certain amount.

You will find that their website is very clear and transparent (there is a reason that millions of people make use of their service).

Edited March 27, 2020 by Peter Denis

[john terry1001]

5 hours ago, PST said:

So i can go to any local intermidiate bank?

For transfers coded SMART you would need to contact the intermediary banks International department to obtain the credit advice receipt.

[Max69xl]

2 hours ago, PST said:

Thanks again Peter, and everyone for all your help on this. I'm going to roll with option 3, and do a small test transfer first.

Go with option 3, but don't forget to chose correct reason for transfer, "Funds for long term stay in Thailand".