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Answered5 years ago

What is the 50,000 baht transfer limit for banks in Thailand set by Wise, and how is it applied?

Sean *********
asked Jan 7, 2022
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Hi, I saw something about 50,000 baht limit with transfers to banks in Thailand. Wise has put this notification on their app(Kasikorn, Siam commercial not affected) . My query is is this amount daily, weekly etc.
Answer summary
As of January 7, 2022, Wise imposes a 50,000 baht limit on money transfers to certain banks in Thailand. Transfers to Bangkok Bank, Kasikorn Bank, and Siam Commercial Bank are unaffected, allowing higher amounts. However, transfers to other banks are capped at 49,999 baht. This limit applies to each transaction, and users can make multiple transactions to send larger sums. The change takes effect after 1 PM Bangkok time, on the same day.
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Brian ********
Brian ********
Daily
Dave ********
Dave ********
It's per transaction, if you want to send (eg) 500,000 baht, you can do 10 transfers, one after the other, a long-winded way, but still possible
Roger *******
Roger *******
Kasikorn Bank does not have a routing number like in the states. How do transfer money to them.
Maya *******
Maya *******
@Roger ******
my friend told me about an app

Neema

I got it and it was so simple

You just transfer money from your bank to the app

Or can give cash to neema agent in some change place

The cost was 3 usd

The rate was great. The money was in my kasikorn bank account in maybe 3 minutes
Roger *******
Roger *******
Maya *******
Maya *******
@Roger ******
i just noticed you talking about 50k

I didn't transfer that much but the app work good. I think my friend who live in Thailand do. So give it a try
Peter ******
Peter ******
With Wise you just give account number.

Do not think that Wise uses Swift. If it does am sure that it knows it.
Stuart *********
Stuart *********
@Roger ******
you use the Swift code KASITHBK along with your account number
Roger *******
Roger *******
@Stuart ********
thank you 🙏
Mike *******
Mike *******
how would this effect people switching over to retirment visa in the future. You can't put the 800k in all at once?
Peter ******
Peter ******
Open another account.

Pay 16x50k with standing order.

I think that money has to be in account for year before it counts anyway.
Mike *******
Mike *******
@Peter *****
not for new retirement visas.
Tobie *****
Tobie *****
@Mike ******
Seems those people need to switch banks.
Mike *******
Mike *******
@Tobie ****
I thought I read it as universal. I need to apply for retirement visa in a couple months when I turn 50 and was going to switch the 800 k around April.
Olivier *********
Olivier *********
Graeme **********
Graeme **********
From 7 January, you’ll only be able to send 50,000 THB or more per transfer to the following banks:

Bangkok Bank Public Company

Kasikorn Bank

Siam Commercial Bank

This means that if you’re sending money to a recipient using any of those banks listed above, everything will work as usual. But, if your recipient uses another bank, you’ll have a new transfer limit.

You can still send money to recipient accounts that use other banks, but you’ll only be allowed to send them up to 49,999 THB per transfer. There’s no limit on how many transfers you can create.

This change will affect all transfers created after 1PM Bangkok time, on 7 January 2022. Please make sure you pay for your transfer on the same day. If you have any ongoing payments, don’t worry – we’ll complete your transfer if you send us the money until then.

We're sorry that we're limiting our service for now. We're working with our partner to support larger transfers to all recipients in Thailand — we'll let you know as soon as that changes.

Learn more about transfers to THB.

Thanks,

The Wise Team

We've changed our name to Wise.

Because we’re the international account used by over 10 million people to make it easier to live, work, travel and do business around the world. Read more on our blog.
Chris *********************
Chris *********************
I send money to my own kasikorn bank account while I'm working in UK

Will this be affected
Jeffrey ************
Jeffrey ************
@Chris ********************
The statement from Wise clearly suggests not.....
Chris *********************
Chris *********************
Stuart *********
Stuart *********
Yes as of today 7th at 1pm Bangkok time the change comes into effect. Bangkok Bank, Kasikorn Bank or Siam Commercial bank recipients aren’t affected. Other bank accounts are limited to less than 50k THB.
Sean *********
Sean *********
OP
@Stuart ********
my question is, is it daily, weekly or monthly?
Steven ***************
Steven ***************
The 3 banks mentioned above are not state owned, that's probably why. Most of the rest are state owned with the " Royles" being major shareholders of them.

Thailand has been a Hotspot for money laundering for decades and has strict laws governing it. Super easy to send money in to Thaland ,but not as easy to send out as an example. Non bank transfer companies get a lot of scrutiny by the govt here due to laundering in the past.
Dimitri ********
Dimitri ********
@Steven **************
Krungsri is not state owned.
Ben *********
Ben *********
@Sean ********
the email I received from Wise:

From 7 January, you’ll only be able to send 50,000 THB or more per transfer to the following banks:

Bangkok Bank Public Company

Kasikorn Bank

Siam Commercial Bank

This means that if you’re sending money to a recipient using any of those banks listed above, everything will work as usual. But, if your recipient uses another bank, you’ll have a new transfer limit.

You can still send money to recipient accounts that use other banks, but you’ll only be allowed to send them up to 49,999 THB per transfer. There’s no limit on how many transfers you can create.
Sean *********
Sean *********
OP
@Ben ********
Thanks for that. Hope the banks know that🤔🤔
Stuart *********
Stuart *********
@Sean ********
no idea, but my guess is per transaction.
Sean *********
Sean *********
OP
@Stuart ********
I thought I read on here monthly, as a member was worried about the 65,000 baht monthly retirement requirement. Would be worth finding out so, hopefully someone will post later. Thanks

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