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I have been transferring my pension from Santander UK to Thailand via Bangkok bank in London for many years without any problems. I have just received an email asking the following.

 

(Thank you for using our services to send the money to Thailand.

Due to a new banking regulation to guard against fraud and money laundering. The Bank’s regulations state that all banks in Thailand must obtain specific reason, sender details  also the prove of fund  for funds transfers before they are credited into an account in Thailand. Bangkok Bank will report the purposes for all incoming funds transfers to the Bank of Thailand on your behalf.

Kindly complete the attached registration form to submit the required documents by replying to this email to enable the transfer service

Once complete the form, please scan the listed documents and send them to us by replying to this Email .

1)      The 1st page of Bangkok Bank passbook

2)      Copy of Passport

3)      Proof of address  ( Household registration or Gas/ electricity bill or Bank statement)

4)      Registration Form ( see the attached file)

Please note that we need your Thai address as proof of address because  you are living in Thailand and the bank code will be issued to your home address for security reasons.

Once we receive the documents and form we will issue you with a unique Banking code. You can quote that code every time you send money to Thailand.)

Because of the poor English I emailed another department to check if this was spam as Gmail said it was. A woman sent an email back confirming it was genuine. The phone number they gave is different to the banks website number. Has anybody else been sent an email regarding transfers. Thank you in advance for you help.

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It greatly limits your payment options in my view - better to keep accounts in home country active - you may well need at some point - even if only for insurance payments/government tax payments and s

The USA stopped allowing transfers using Bangkok Bank New York without special additional information (which is not available in US systems) so sounds like UK is going the same route and indeed it is

TransferWise does not actually transfer the funds from your foreign bank-account to your Thai bank-account.  TransferWise makes use of their PartnerBank(s) in the destination country (in Thailand they

The USA stopped allowing transfers using Bangkok Bank New York without special additional information (which is not available in US systems) so sounds like UK is going the same route and indeed it is real and a requirement to abide to government rules.  I would move to Transferwise myself as I have done in USA.  

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12 minutes ago, lopburi3 said:

I would move to Transferwise myself as I have done in USA. 

When sending from Europe, Transferwise asks for purpose of funds.

I select money for long-term foreign stay.

No idea whether it is important and never had an issue.

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Why not get your UK pension paid directly into your Thai Bkk bk a/c like many do here. 

I never have a problem as long as the proof of life form is received back to the IPC. 

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10 minutes ago, lopburi3 said:

It greatly limits your payment options in my view - better to keep accounts in home country active - you may well need at some point - even if only for insurance payments/government tax payments and such.  Also good to have a credit/debit card in home currency for many people.  Most of us will have payments to make for something that is often a lot easier using home country currency/banking.  

Good point. I have 1 remaining account at home, I calculated how many dollars I needed per year for valuable memberships etc., then reduced the balance to twice the annual items, then requested the gov't to transfer my pension direct to K bank in Thailand.

 

If/when needed I can do a top up of the home bank account from Thailand.

Edited by scorecard
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10 minutes ago, lopburi3 said:

It greatly limits your payment options in my view - better to keep accounts in home country active - you may well need at some point - even if only for insurance payments/government tax payments and such.  Also good to have a credit/debit card in home currency for many people.  Most of us will have payments to make for something that is often a lot easier using home country currency/banking.  

Hear what you say, good call. 

Peoples situations can be different in so many ways. 

I've posted many times why I find my UK pension being paid directly into my Thai bank is a better way IMO. 

My 2 private pensions are not large but a nice top up bit the companies won't pay into a Thai bank that's why I have a UK credit card. 

 

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2 minutes ago, KhunBENQ said:

When sending from Europe, Transferwise asks for purpose of funds.

I select money for long-term foreign stay.

No idea whether it is important and never had an issue.

TransferWise does not actually transfer the funds from your foreign bank-account to your Thai bank-account.  TransferWise makes use of their PartnerBank(s) in the destination country (in Thailand they use Bangkok Bank, Kasikorn Bank and TMB) to transfer the money to your local account there.  So in effect it will not be an international transfer but a domestic transfer to your local Thai bank-account. 

That might cause a problem with Immigration, because when using the monthly income transfer method to meet the financial requirements of your annual extensions, Immigration requires that the foreign origins of the transfers are proven.

When your account is with Bangkok Bank, and you clicked the option 'Funds for long-term stay' as reason for the transfer with TransferWise, Bangkok Bank Headquarters (where the transfer order arrives) will code the incoming transfer as FTT which is the Bangkok Bank code for an international transfer, and will also communicate that information to your local BKB branche so that it turns up as an international (FTT) transfer on your bank-book, and you can provide proof to Immigration that the transfer was from foreign origin.

Unfortunately Kasikorn Bank (unless you bank directly with their HQ branche) does not do similar, and does not communicate this to its local branches.  And that's why - even when selecting that TransferWise option of Funds for long-term stay, - the transfer will still show up as a 'domestic' one on your Kasikorn bank-book.  However, you can request a Credit Receipt advice from your local Kasikorn Bank branche, that will provide proof of the foreign origin of the transfers.  Such Credit Receipt advices are free-of-charge when less than 3 months old, otherwise a fee will be charged to provide them to you.

When using another Thai Bank than those 3 partner-banks you would have to enquire via which of the 3 TW partner-banks the funds were routed to your local bank-account, and then you would have to visit a branche of that partner-bank to get hold of the evidence that the origin of the funds was from abroad.

>> If you need more detail on the above, do PM me and I will provide you with a Guideline document on TransferWise and how to ensure you get hold of the evidence of the foreign origins of the transfers you made. 

Note: Most IOs also do accept the TW receipts as evidence that the transfers originated from abroad, but you might encounter the odd Immigration Officer that insists on proof from your Thai bank that the transfers 'really' originated from abroad, so better enquire beforehand whether Io accepts the TW receipts as proof of foreign origin of the funds transferred.

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32 minutes ago, Peter Denis said:

 

When your account is with Bangkok Bank, and you clicked the option 'Funds for long-term stay' as reason for the transfer with TransferWise, Bangkok Bank Headquarters (where the transfer order arrives) will code the incoming transfer as FTT which is the Bangkok Bank code for an international transfer, and will also communicate that information to your local BKB branche so that it turns up as an international (FTT) transfer on your bank-book, and you can provide proof to Immigration that the transfer was from foreign origin.

That's what I do and happens.

Although I do not depend on the FTT.

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6 minutes ago, scubascuba3 said:

TransferWise seems to be the simple solution from Santander to Bangkok Bank, that's what I do

 

Does the Bangkok Bank show these transfers as foreign? I think that's needed for immigration? I currently us KBank with Transferwise and they are displayed as local bank transfers. Is my only option to open a Bangkok Bank account?

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6 minutes ago, Hamus Yaigh said:

 

Does the Bangkok Bank show these transfers as foreign? I think that's needed for immigration? I currently us KBank with Transferwise and they are displayed as local bank transfers. Is my only option to open a Bangkok Bank account?

As long as you select long term stay in Thailand as the reason for transfer they should be coded as foreign transfers by Bangkok Bank.  If you select something else as reason for transfer much more likely to be coded as domestic transfer SMART.  But you can obtain paperwork to show foreign origin even if mistake is made.  You can use KBank but will require PDF receipts from Transferwise and/or credit receipts from your bank for each transaction.

Edited by lopburi3
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1 hour ago, KhunBENQ said:

When sending from Europe, Transferwise asks for purpose of funds.

I select money for long-term foreign stay.

No idea whether it is important and never had an issue.

Reason for transfer: Adding a few more buffalos to the farm.

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11 minutes ago, Hamus Yaigh said:

 

Does the Bangkok Bank show these transfers as foreign? I think that's needed for immigration? I currently us KBank with Transferwise and they are displayed as local bank transfers. Is my only option to open a Bangkok Bank account?

You specific questions have been answered in my earlier post.  See link >

> https://forum.thaivisa.com/?app=core&module=system&controller=content&do=find&content_class=forums_Topic&content_id=1193836&content_commentid=16029632

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