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Is Wise acceptable for transferring funds for the 65k monthly income method on a Non O visa in Thailand?

Non-O Visa Retirement Visa Thailand Immigration International Money Transfer Wise Bangkok Bank Monthly Income Requirement

Jun 21, 2023

a year ago

ORIGINAL POSTER

I'm on a non O visa based on over 50 (retirement) Currently I use the 800,000 in a Thai bank (rotting away) method and I'm looking at changing to the 65k monthly income method.  I currently use wise to transfer my 'monthly income' to my thai  account from the UK. 

Couple of questions. Is wise acceptable for the transaction being considered an international transfer? If so do you have to select a particular 'reason for transfer' when making the wise transfer? e.g. 'Funds for long term stay in Thailand'

Living in Phuket if that makes any difference, I know how fickle different immigration office's can be.

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TLDR : Answer Summary

The discussion revolves around the use of Wise for transferring monthly income to Thailand while on a Non-O retirement visa. The consensus suggests that using Wise is acceptable, particularly with Bangkok Bank, provided the transfer is marked as 'Funds for long term stay in Thailand.' However, experiences vary among users regarding the handling of transfers and their classification by banks and immigration offices. It is also mentioned that showing 12 months' worth of the required income may be necessary.

NON-O RETIREMENT VISA RESOURCES / SERVICES

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Todd **********

I don’t think it matters I’ve been using them for 5 yrs with no problem. But also an international wire transfer is very simple to send a routing number. Excuse me an account number your name and address and your bank address and a swift code number. That’s it. You’ll have the money the next day. I just did it wise. Instead of wise because the fees would’ve been a little bit higher for sure on the amount of money that international wire transfer is very slick and quick. It was the bank of Bangkok

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Graham *******

From what I have read else where, could be incorrect, you have to show 12 months' worth of 65k!

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Robert ******

ORIGINAL POSTER

Thanks all for your responses. Looks like Bangkok Bank and Wise with the 'Funds for long term stay' box ticked is the way forward. And a potential remedy for miss-flagging. Cheers

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Michael *********

Gift, I send money to my fiancé and into my bank in Bangkok all the time east. I use Xe

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Keith ************

I had one payment misidentified as a local transfer. Turns out it went through Kasikorn before hitting Bangkok bank. I spent a couple of hours getting it straightened out and getting Kasikorn to provide me with a paper saying it was international.

The IO didn't look at it. But ymmv.

As others have said, the drop-down menu in Wise contains a "funds for long-term stay" option which is supposed to code it as an international transaction.

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Russell *******

Wise has a option Funds for retirement visa in Thailand. You can look on the wise app for further information about (FET) payments .

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Robert ******

ORIGINAL POSTER

@Russell ******

are you referring to 'Funds for long term stay in Thailand' I can't see any option referring to Funds for retirement visa?

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Russell *******

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Robert ******

ORIGINAL POSTER

@Russell ******

thanks for the clarification 👍

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Russell *******

welcome 🙏

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Russell *******

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Steve ********

It's "Funds for long term stay in Thailand" which you use

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Steve ********

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เจสัน ******

Even using Wise and BKK Bank errors are occurring and transfers are not being flagged as FTT; necessary for the income method.

Some IO's are okay as long as you can show the transfer and receipt others are not so flexible and insist on FTT.

FTT is the rule....

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Robert ******

ORIGINAL POSTER

sorry, ftt?

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เจสัน ******

Banking acronym:-

FTT = Foreign Telegraphic Transfer.

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เจสัน ******

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Stuart *********

Depends what bank you use. If Bangkok Bank and you select the option “funds for long term stay in Thailand” then in theory the transfer will be flagged as from overseas. Note the “in theory” part as for some that hasn’t been the case.

There are ways to get a mis labeled transfer to be shown as from overseas but I’m not sure of the intricacies of doing as such.

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Steve ********

If you're using Bangkok Bank you should be right. I've used Wise/BB for over three years without an issue

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Steve ********

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