Wise removes Long Stay Reason on Transfers

[Pumpuynarak]

Wise have removed the ''Long term stay in Thailand'' from their list of reasons for transferring monies to Thailand. Now this reason was always needed to ensure you got FTT/International Transfer on your bank book/statement to satisfy Thai Immigration when using the 65K monthly income method for retirement extensions. Now Wise have said just use ''Property Purchase'' from the list of reasons and you will still get the FTT/International Transfer so all would appear ok.

Having said that would you be happy telling deliberate lies to achieve what you need ?

I can remember Wise telling customers to have their accounts ''Tagged'' by contacting them and then to use the ''Long Term Stay in Thailand'' for every transfer to ensure you got the FTT/International Transfer, WTF is going on ?

Has anyone done a recent transfer needing the FTT/International Transfer and if so what was the outcome ?

[Derek Dangleberries]

3 hours ago, Pumpuynarak said:

Wise have removed the ''Long term stay in Thailand'' from their list of reasons for transferring monies to Thailand.

I noticed that yesterday. I am not on the monthly income route so doesn't cause me concern but what I shall start doing is splitting the money coming in via Wise between me and M'Lady's Bank.....

Y'know, just circling the wagons in case anything comes of the Tax bollox.. 

[Pumpuynarak]

Reply i got back from Wise, i'm hoping what they say actually works otherwise its deffo i'll be off to an agent.

 

Hello Clifford,

Thanks for getting in touch.

I understand your concern about the requirement for marking your transfer for a Retirement Visa Extension in Thailand. You can still get your THB transfer marked as an International Transfer by following these updated steps:

• Set the transfer amount and currency to THB.
• Add the recipient details.
• Choose Kasikorn Bank or Bangkok Bank Public Company as the recipient bank.
• Enter the account number.
• On the Transfer Purpose, select "Purchase of Property" or check all available options that might still meet your requirements.
• Review the transfer details and confirm.
• Select the pay-in method and pay for your transfer.

If your transfer is not marked as an International Transfer, contact the respective bank partners to get an FET form. Here’s how you can do that:

For Bangkok Bank:

• If the recipient has an account with Bangkok Bank: contact the branch where they maintain the account.
• If the recipient has an account with another local bank and Bangkok Bank is the intermediary: contact Bangkok Bank’s Head Office branch via their call center during banking hours.

They will need:

• Passport of the recipient
• Evidence of transferring funds with Wise
• Savings passbook or statement showing the international transfer
• Sales Purchase Agreement for property if applicable

For Kasikorn Bank:

• Visit the nearest Kasikorn Bank International Trade Centre.

They will need:

• Bank Savings Passbook or statement showing the transaction
• Passport
• Visa (if applicable)

If your transfer involves a different bank or you do not get the desired marking, ask for a FET form directly from the partner bank used in the transfer. You can find this information on your transfer receipt in your Wise account.

If you have further questions or need more help, feel free to ask!

Just let me know if you have any other questions — or you can check out our Help Centre.

Best Regards,

Wise

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[KWA]

It seems if you had your account "tagged" for Bangkok Bank, which was the procedure before they introduced the "Long Stay in Thailand" reason, this "tag" is still in place and the transfers will still be marked as International.

[Pumpuynarak]

16 hours ago, KWA said:

It seems if you had your account "tagged" for Bangkok Bank, which was the procedure before they introduced the "Long Stay in Thailand" reason, this "tag" is still in place and the transfers will still be marked as International.

I sincerely hope so as i did have my Bangkok Bank account ''tagged''

[Pumpuynarak]

20 hours ago, Big_daddy said:

It’s back now

Good news but why did they remove it in the first place ? it just does'nt make sense

[Yesitisdakid]

11 hours ago, Pumpuynarak said:

Good news but why did they remove it in the first place ? it just does'nt make sense

I wondered exactly the same thing