Transferwise

[Delight]

Apologise if my request for information  has been covered before.

 

I hope to use the monthly 65000 baht per month when next I apply for my visa extension (retirement visa)

 

Every month I bring into Thailand at least the 65000 Baht .

I use Transferwise to transfer the Thai Baht to my Bangkok Bank Account.  The transfer is internally within Thailand. This is the Transferwise system.

 

I wish to hear from those who have actually  successfully used both Transferwise together with Bangkok Bank.

 

I define success as  the confirmation  bank letter being accepted by immigration -Jomtien

 

[Pmbkk]

Been asked many times - Peter Denis I believe has very good advice and a crib sheet

[Peter Denis]

Be aware, that even if it is your very first application for a 1-year retirement extension based on your original Non Imm O or O-A Visa, that Thai Immigration - when using the Monthly Foreign Income Transfer method, as you plan to do - requires:

- 12 months of such +65K transfers, done during each and every of those 12 months;

- proof of foreign origin of each of those transfers. 

Furthermore the Immigration Officer handling your application can ask for additional evidence proving the SOURCE of those transfers.  And previous reports have indicated that at Jomtien and SriRacha - the IOs where you plan to apply - they ONLY accept a pension statement as proof of SOURCE of these transfers.

[Peter Denis]

>> I did PM you a Guideline document on TransferWise and how to get hold of the evidence that your transfers originated from abroad.

[lopburi3]

As long as you select the reason for transfer as long term stay in Thailand Bangkok Bank should record them as "FTT" meaning they are international.  I submitted a one year bank statement of account in June last year here in Bangkok, along with passbook.  This was accepted for monthly transfer proof.  

[Delight]

1 hour ago, Peter Denis said:

Be aware, that even if it is your very first application for a 1-year retirement extension based on your original Non Imm O or O-A Visa, that Thai Immigration - when using the Monthly Foreign Income Transfer method, as you plan to do - requires:

- 12 months of such +65K transfers, done during each and every of those 12 months;

- proof of foreign origin of each of those transfers. 

Furthermore the Immigration Officer handling your application can ask for additional evidence proving the SOURCE of those transfers.  And previous reports have indicated that at Jomtien and SriRacha - the IOs where you plan to apply - they ONLY accept a pension statement as proof of SOURCE of these transfers.

  Thanks Peter for your Data

 

How do you define a 'Pension Statement'?

Will bank statements from my UK bank suffice.

My worry is that the UK proof of income statements i.e.the P60 which was determined  not  to be suitable  to generate the former 'Embassy Letter 'system -will  now not be accepted as evidence .

In general terms I have lived in Thailand (as a retiree)for 15 years. 16 years  at the time of my extension application.

Due to certain external  changes my choices  now are Spouse Visa or monthly money.  

Given that I qualify financially for Monthly money then that is my preferred route.

 

Does the foregoing  affect things?

[OJAS]

22 hours ago, Delight said:

How do you define a 'Pension Statement'?

 

Does your UK occupational pension provider not send you a statement every April with details of your occupational pension payments for the upcoming 12 months? My immigration office (Rayong) were happy to accept this statement in response to their request for a source document when I applied there for my latest retirement extension last July. 

 

[Pumpuynarak]

On 3/2/2021 at 8:27 PM, Delight said:

How do you define a 'Pension Statement'?

 

Korat are happy to accept a monthly pension payslip.

[Delight]

 I am now certain that I have fully researched this topic to my satisfaction.

 

So the answer to the Q  can you use Transferwise in order to obtain the bank letter pertaining to 65,000 Baht /month system?

The simple answer is 

 

No   Yes  and Yes

 

The answer is NO

The official at BKK bank advised that as -from the bank's point of view -Transferwise does not confirm that the monies came from outside Thailand. Therefore the answer is NO. The PDF receipts from Transferwise could be forgeries.

The dropdown on the website specifying the purpose of the transfer means zero to BKK

 

Te lady who sits at desk 8 Jomtien stated that she is only interested in that which the bank states. The bank must state that the money comes in from abroad. She also indicated that I should also produce 12 Transferwise PDF receipts.

Joint   bank accounts are acceptable.

 

The answer is YES

 

Transferwise offer the SWIFT system. 

 

The answer is YES

The official that helped me at BKK knew me.

 

I did not remember her.

As a favour -just for me- she will give me a letter ,at the appropriate time which will solve the problem.

I guess the procedure is:

 

1) Go to the bank

2) Knock 3 times

3) Ask for Khun Lek.

 

I am looking forward to  that  special meeting.

 

Special thanks  goes to  Peter Denis.

 

[Peter Denis]

34 minutes ago, Delight said:

...

The official at BKK bank advised that as -from the bank's point of view -Transferwise does not confirm that the monies came from outside Thailand. Therefore the answer is NO. The PDF receipts from Transferwise could be forgeries.

The dropdown on the website specifying the purpose of the transfer means zero to BKK

 

Te lady who sits at desk 8 Jomtien stated that she is only interested in that which the bank states. The bank must state that the money comes in from abroad. She also indicated that I should also produce 12 Transferwise PDF receipts.

Joint   bank accounts are acceptable.

1 - When you transferred the funds via TransferWise to your BangkokBank account (and you clicked as reason for the transfer 'long-term stay in Thailand') the transfer will be coded as FTT (meaning international) on your pass-book and it will state 'International' on the 12-month statement that your BangkokBank branch can provide you (and which many Imm Offices are currently requiring on top of the copies of your pass-book). 

The TransferWise receipt with the routing of the funds might mean 'nothing' from the bank's point of view, but BangkokBank's own systems will clearly show that the money originated from abroad (TransferWise being the sender) and that they ended up on your local BangkokBank branch account.

Note: In case you forgot to click the 'long term stay in Thailand' reason, the transfer will be coded as domestic on your pass-book.  But you can ask your local BangkokBank branch for a Credit-advice receipt as proof that the incoming funds which were received at Bangkok Bank headquarter did indeed originated from abroad.  Such credit-advice receipts are free-of-charge when you request them within a month, but might invoke a fee when you would request them for previous transfers you made. 

However the 12-month statement issued by BangkokBank Headquarter will show that each of the transfers you made came from abroad (they will feature the code 'international' besides the  transfer on the statement), so even if your pass-book does not feature the FTT-codes (because you forgot to click the 'long term stay in Thailand' reason), the 12-month statement issued by BangkokBank Headquarter will provide the evidence that the funds origenated from abroad.

 

2 - The lady at Immigration says that she is only interested in what the Bank provides, but still you should bring the 12 TransferWise receipts.  That is most probably because those TW receipts contain the SOURCE of where the transfers originated from.  The 12-month BangkokBank statement will provide proof that the transfer originated from abroad, but will not tell from which source they came hence here request to provide evidence of the source of those transfers, which the TW receipts can provide.

 

3 - RED Alert with respect to her last statement > Joint bank accounts are acceptable.

But it seems that she did not tell you that in case of a Joint Bank Account that the required amount of funds on such account has to be DOUBLED.  So if you have +1.600.000 THB on that personal Thai bank-account seasoned during the past 12 months (and not falling under 800K during the 5 in-between months) that will be OK, as she confirmed that joint bank accounts are acceptable (some IOs do not even allow that, even when the funds kept on that account are double of the tresshold amounts).

 

[Delight]

32 minutes ago, Peter Denis said:

1 - When you transferred the funds via TransferWise to your BangkokBank account (and you clicked as reason for the transfer 'long-term stay in Thailand') the transfer will be coded as FTT (meaning international) on your pass-book and it will state 'International' on the 12-month statement that your BangkokBank branch can provide you (and which many Imm Offices are currently requiring on top of the copies of your pass-book). 

The TransferWise receipt with the routing of the funds might mean 'nothing' from the bank's point of view, but BangkokBank's own systems will clearly show that the money originated from abroad (TransferWise being the sender) and that they ended up on your local BangkokBank branch account.

Note: In case you forgot to click the 'long term stay in Thailand' reason, the transfer will be coded as domestic on your pass-book.  But you can ask your local BangkokBank branch for a Credit-advice receipt as proof that the incoming funds which were received at Bangkok Bank headquarter did indeed originated from abroad.  Such credit-advice receipts are free-of-charge when you request them within a month, but might invoke a fee when you would request them for previous transfers you made. 

However the 12-month statement issued by BangkokBank Headquarter will show that each of the transfers you made came from abroad (they will feature the code 'international' besides the  transfer on the statement), so even if your pass-book does not feature the FTT-codes (because you forgot to click the 'long term stay in Thailand' reason), the 12-month statement issued by BangkokBank Headquarter will provide the evidence that the funds origenated from abroad.

 

2 - The lady at Immigration says that she is only interested in what the Bank provides, but still you should bring the 12 TransferWise receipts.  That is most probably because those TW receipts contain the SOURCE of where the transfers originated from.  The 12-month BangkokBank statement will provide proof that the transfer originated from abroad, but will not tell from which source they came hence here request to provide evidence of the source of those transfers, which the TW receipts can provide.

 

3 - RED Alert with respect to her last statement > Joint bank accounts are acceptable.

But it seems that she did not tell you that in case of a Joint Bank Account that the required amount of funds on such account has to be DOUBLED.  So if you have +1.600.000 THB on that personal Thai bank-account seasoned during the past 12 months (and not falling under 800K during the 5 in-between months) that will be OK, as she confirmed that joint bank accounts are acceptable (some IOs do not even allow that, even when the funds kept on that account are double of the tresshold amounts).

 

 All what you state I am sure is accurate.

However:

 

There are 2 authorities here

1) The official at the bank

2) The official at Jomtien

 

My contact at the bank did make a phone   call seeking clarification

 

Whatever they (bank and Jomtien) state is the law.

 

I cannot argue with them.

 

 

 

 

 

[Peter Denis]

23 minutes ago, Delight said:

 All what you state I am sure is accurate.

However:

 

There are 2 authorities here

1) The official at the bank

2) The official at Jomtien

 

My contact at the bank did make a phone   call seeking clarification

 

Whatever they (bank and Jomtien) state is the law.

 

I cannot argue with them.

Hi, my post was not contradicting what the Bank staffer and the Immigration Officer told you - but rather explained what it meant for you.

In your case

- a 12 month bank-statement issued by BangkokBank Headquarters will provide the evidence that the funds you transferred originated from abroad;

- the 12 TransferWise receipts as requested by the Imm Officer will provide evidence of the source of the funds;

- be aware that the funds on your Joint Bank Account needs to be DOUBLE of what it is normally required to be maintained on a personal Thai bank-account.

[Delight]

19 minutes ago, Peter Denis said:

Hi, my post was not contradicting what the Bank staffer and the Immigration Officer told you - but rather explained what it meant for you.

In your case

- a 12 month bank-statement issued by BangkokBank Headquarters will provide the evidence that the funds you transferred originated from abroad;

- the 12 TransferWise receipts as requested by the Imm Officer will provide evidence of the source of the funds;

- be aware that the funds on your Joint Bank Account needs to be DOUBLE of what it is normally required to be maintained on a personal Thai bank-account.

 I guess your reference to BKK headquarters is confusing me. I only know BKK  2nd Rd Pattaya -near Soi 4.Following your suggestion -would  I have to go to Bangkok?

 

Also

Joint Bank account. This account is connected to my Transferwise account.

My 800K Baht is in a separate fixed account. Can I assume that you are mixing the  2 accounts up. Both the bank and Immigration officials have no problem with my current arrangement.

 

Anyway my plan is to use the 'Khun Lek' method. This will be early September .

 

If -for any reason -the Khun Lek system failed then I will go to Bangkok. Please advise.

[KannikaP]

8 minutes ago, Delight said:

 I guess your reference to BKK headquarters is confusing me. I only know BKK  2nd Rd Pattaya -near Soi 4.Following your suggestion -would  I have to go to Bangkok?

 

Also

Joint Bank account. This account is connected to my Transferwise account.

My 800K Baht is in a separate fixed account. Can I assume that you are mixing the  2 accounts up. Both the bank and Immigration officials have no problem with my current arrangement.

 

Anyway my plan is to use the 'Khun Lek' method. This will be early September .

 

If -for any reason -the Khun Lek system failed then I will go to Bangkok. Please advise.

You do not need 65k a month if you have 800k in the bank.

[Peter Denis]

11 minutes ago, Delight said:

 I guess your reference to BKK headquarters is confusing me. I only know BKK  2nd Rd Pattaya -near Soi 4.Following your suggestion -would  I have to go to Bangkok?

 

Also

Joint Bank account. This account is connected to my Transferwise account.

My 800K Baht is in a separate fixed account. Can I assume that you are mixing the  2 accounts up. Both the bank and Immigration officials have no problem with my current arrangement.

 

Anyway my plan is to use the 'Khun Lek' method. This will be early September .

 

If -for any reason -the Khun Lek system failed then I will go to Bangkok. Please advise.

No, you do not need to go to Bangkok to get hold of that 12-month bank statement. 

Many local Immigration offices now require that those applying for a 1-year extension based on their original Non Imm O or O-A Visa provide evidence that they met the financial requirements during the 12 months preceding their application by showing a 12-MONTH BANK STATEMENT issued by the Bank where they keep their account.

Not all local bank-branches are able to do that, and some have to request Bank Headquarters to issue that statement with all the transactions you did on that account during the past 12-monhts, so that you can pick it up later at your local bank-branch.  Be aware that this can take up to 5 working days to have it available.

 

From what you wrote it appears that you do not use that Joint Bank Account to meet the financial requirements for your 1-year extension of stay application.  So there is absolutely no need to gather evidence of source and origins of the funds on that Joint Bank Account, because you are using your Fixed Deposit Account for that purpose..

 

When you use your Fixed Deposit Account where you kept +800K during the preceding 12 months, you will NOT need to provide evidence of the source or the foreign origins of those funds, when you apply for your 1-year extension of stay.

And most probably you won't even need the 12-month bank statement, as an updated pass-book from that account will show that you kept the funds there untouched.  Although there have been reports of applicants using such a Fixed Deposit Account that had to show the 12-month bank statement (which only contained ONE transaction over the past year, the one done to update the pass-book).

 

Never heard of the Khun Lek method... so cannot advice on that.

[Delight]

1 hour ago, Peter Denis said:

 

 

Never heard of the Khun Lek method... so cannot advice on that.

 I defined this system a few posts back.

Just before I issued special thanks to you

[treetops]

18 hours ago, Delight said:

I am now certain that I have fully researched this topic to my satisfaction.

 

Yet still you seem unaware of the financial requirements for your visa extension.  Maybe some research into that would have been more beneficial?