Transferwise and Bangkok bank important news

[Tanoshi]

1 hour ago, Varrius said:

Should I select the Long Term stay option Instead?   Thanks.

Yes.

[billd766]

On 8/3/2020 at 9:11 PM, Moonlover said:

I and many others have used the transaction slip that you can download from TransferWise's website as unequivocal proof that the bank deposit originates from abroad.

 

I used them for my marriage extension last year and shall be doing the same again later this month. IOs are now quite familiar with them.

plus 1

[Imd8ta]

On 8/7/2020 at 8:24 AM, Pib said:

That was a "Domestic Wire" not an ACH transfer.  Wires are/were not affected by the ACH "IAT" policy as domestic wires use the Fedwire system vs ACH system. The Citibank Domestic Wire fee is $25 which you mentioned. 

 

And when relaying the funds thru the Bkk Bk NY branch via domestic wire or ACH transfer a person still incurs their fee of $10 for a $50K amount plus the in-Thailand branch recieving fee of 0,25% (Bt200 min, Bt500 max).  These two fees will not appear on you Bkk Bk acct since they are applied before the funds are posted to you acct..

 

But even with the three fees you incurred with the domestic wire, you faired better than using Transferwise due to Transferwise's fees that get large for big amounts sent...fees so large Transferwise's higher exchange rate can't offset.

Agree. I looked at Transferwise's fee's and OMB. Add to that the amount was excessive and I would have to paid to get into a higher category to move 50K.

In only 12 hours after the move I received it into my acct. here. 1,547,190.40 equates to a 30.94 exchange rate. Don't care if 2-3-4 "fee's".

Additionally, the manager will offer me a better rate on Monday as it's 50k +. She'll update my book then.

[norbra]

I have been using  KBank for my TW transfers(long stay etc),there is no indication that this was an international transaction either online or in passbook ,however I request a "Credit Advice/Receipt" from the KBank call centre and it is emailed to me the following day free of charge. Senior IO at CW confirmed these meet IMM requirements

If you request these docs that are over 3 months old they charge 500thb per transaction

[Peter Denis]

35 minutes ago, norbra said:

I have been using  KBank for my TW transfers(long stay etc),there is no indication that this was an international transaction either online or in passbook ,however I request a "Credit Advice/Receipt" from the KBank call centre and it is emailed to me the following day free of charge. Senior IO at CW confirmed these meet IMM requirements

If you request these docs that are over 3 months old they charge 500thb per transaction

I can confirm that the above is fully correct.