Retirement Visa Extension and Wise (Transferwise)

[Big Boy]

Yes, I too am used to blink of an eye transfer. In fairness to Wise, I think there was confusion today because the NatWest system was undergoing maintenance, and that delayed the initial transfer by a few minutes, and it went downhill from there.

[sateeb]

Just seen this on the TW website.

Due to regulatory changes in Thailand, transfers of 50,000 THB and above will only be available for Kasikorn Bank, Bangkok Bank, and Siam Commercial Bank recipients. Effective on 7 January 2022, 1PM Bangkok time. Transfers under 50,000 THB remain unaffected for all supported recipient banks.

[londongeorge]

There seems to be a lot of stuff on here regarding Transferwise and I don't want to sift through it all and still not get an answer. I'm hoping that I can get some pointers in the right direction. I intend getting my UK Pension transferred into my Thai bank account (Krunsri main Hua Hin Branch) using Transferwise. My Retirement Visa is based on monthly income and get a Monthly Credit Note from the bank to show that the money comes from overseas. Has anyone done it this way and maybe encountered problems that I should be aware of? Any advise would be appreciated.

The system I am using now has worked well for the past 7 years but will not be available to me after Oct. 2022 so I still have a few months to try and sort out any problems.

[Motyduke]

More and more eurpeans banks block the payment by card to Wise. It is the case with any french banks who not allowed to transfer money to Wise. Only solution is to open a multi devise bank account in Wise but is is impossible to do with an address in Thaiand !

[buksida]

Another alternative to Wise is Payoneer which appears to offer similar services (and works with Thai banks): https://www.payoneer.com/

No idea if acceptable by immigration though (not retired yet).

[londongeorge]

Thanks for the info and I might have to go another route.

[Big Boy]

You should be fine with Wise. I've been using it from the start. I've had a couple of hiccups, but I wouldn't dream of going elsewhere at the moment.

[Motyduke]

Wise is ok if you registered long-time ago. Now , many registrations are not allowed . And if you don't have an address in europe you cannot setup multi-devises account. Samwith payment by bankacrd to Wise : more and more europenans banks block these kind of payments

[Big Boy]

more and more europenans banks block these kind of payments

I can understand that. Wise exposes how much banks are making with their exorbitant transfer fees/exchange rates (hidden or not).

[londongeorge]

Has anyone transferred money from UK to Bank of Ayudhya using Wise and does the B50,000 limit apply? I see on Wise's site that other banks will receive over B50,000 but Bank of Ayudhya is not on the list.
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Due to regulatory changes in Thailand, transfers of 50,000 THB and above will only be available for Kasikorn Bank, Bangkok Bank, and Siam Commercial Bank recipients. Effective on 10 Jan 2022 at 9AM Bangkok Time. Transfers under 50,000 THB remain unaffected for all supported recipient banks.
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[HHTel]

AFAIK That still applies. However it's noted that there are no limits on the number of transfers so you could do multiple transfers even in the same day.

[Big Boy]

OK, I'm Kasikorn, but I transfer at least 75,000฿ each month. I'm having some expensive dental work done at the moment and often transfer double that or more.

[HHTel]

Like BB, I'm with one of the approved banks - Bangkok Bank. Recently transferred 400K+ and arrived within the hour.

[titomiako]

I intend using Wise to transfer money monthly from the UK to cover my retirement visa requirements. But when I did a trial run sending money to my account with Krungsri I was unable to get a credit note. Although the money was transferred into my account the girl behind the counter said she couldn't issue one. She couldn't give a reason why so I will have to rethink my transfer plans. Has anyone had a similar problem with there transfers to Krungsri or other bank? I have considered opening an account with another bank but I'm unsure if that would help. Any ideas??

[Big Boy]

My transfers to Kasikorn have gone wrong a few times where Kasikorn couldn't give me a Credit Advice. On your Wise receipt it should tell you which Thai banking partner they transferred to. You will need to take the information to that bank, and they will give you the Credit Advice. When this has happened, Wise have always mistakenly transferred via Bangkok Bank.