Has anybody in this group used Wise to transfer funds for foreign-owned condo purchase?
Careful!!! I am asking about people's experiences and not their speculation. I know there is an option on the Wise platform to indicate the purpose of the transaction, and I know one of those options is 'purchase condo'. However, I am asking has anybody actually used it and gotten what they need.
Last week create a transfer of $100 US, I indicated that it was to purchase property(condo). A week later when I finally got the funds I went to my local Bangkok Bank and asked if the transaction meets their requirements. The lady printed the form with the transaction details and there is no mention of Condo Purchase. She told me it MUST be there for the bank to do what they need to facilitate the transaction.
Anybody with experience with this matter have any suggestions?
TLDR : Answer Summary
The discussion revolves around experiences of using Wise for transferring funds for purchasing a condo in Thailand. Several users caution that while Wise can be economical for smaller transfers, traditional SWIFT bank transfers are preferred for larger, official transactions due to better compliance with Thai bank requirements. Users have reported mixed experiences with Wise regarding documentation and banking requirements, emphasizing the need for proper proof of purpose in transfers to avoid issues with the Land Office. Recommendations include using the SWIFT option in Wise and printing transaction references for clarity.