In regards the 800,000 in a bank for a retirement visa those funds have to come from overseas. Previously when transferring via Wise, there was an option on the drop down menu to say the reason for transfer was 'funds for long term stay' that would then show as international transfer with Bangkok Bank. However that dropdown option no longer exists with Wise. Has anyone else noticed this or know a work around?
Update: On the Wise site it suggests putting in purchase of property. However I emailed Wise and they replied saying either select 'Funds for Long term stay' or if it is not there (why do they not know whether it is there or not!?!) or Other and then type in 'Funds for long term stay'. However the APP does not let you do this, perhaps a few other regular users could email Wise and point out that they will be losing a lot of cutomers...
Update 2:
Having further questioned Wise below is their 2nd reply:
'....was able to run a further investigation and found out that we have made changes to transfer purpose list for customer sending THB.
We've updated the transfer purpose list to make it easier for them to choose. Rest assured, they can still make the same transfers as before, just with the new list of transfer purposes.
Guide to THB transfers
How to get your THB transfer marked as International Transfer by the recipient bank?
If your recipient Bank is Kasikorn Bank or Bangkok Bank:
Set transfer amount and currency to THB
Add recipient details
Choose Kasikorn Bank or Bangkok Bank Public Company as the recipient bank
Enter account number
On Transfer Purpose: select Purchase of Property
Review transfer details and Confirm
Select pay-in method, and pay for your transfer
You’re all set!
Your transfer should be marked as International Transfer in your recipient bank’s app, website, or passbook.*'
2 things to note. Wise is asking you to lie if you are not purchasing property, and they say your transfer SHOULD be marked as International Transfer, not WILL.
Anyway I have sent a small amount like this as a test...
TLDR : Answer Summary
Users have reported changes to Wise's transfer options, specifically concerning transfers meant for supporting retirement visas in Thailand. Previously, there was an option to identify transfers as 'funds for long term stay,' which has been removed. The current workaround suggested by Wise is to select 'Purchase of Property,' which has raised concerns about its accuracy for users who are not purchasing property. Additionally, discussions regarding the requirements for the 800,000 baht needed for a retirement visa reveal differing opinions on whether those funds must exclusively come from overseas.
NON-O RETIREMENT VISA RESOURCES / SERVICES
- Go to the Retirement Visa Section for information on requirements, including age restrictions, financial requirements, and necessary documentation.
- For immediate assistance, contact Thai Visa Centre directly via LINE at @ThaiVisaCentre or Email them.
- Explore recent discussions by using the Non-O Retirement Visa tag in the search box at the top of the page.
- Join the Thai Visa Advice Facebook Group to ask your questions, and get advice from others.
