Hello I need some advise. We've applied for a retirement visa and got an email stating that the Wise Acct isn't considered a bank which we've transferred most of our funds to, that bank so not sure how to go about this. Everything else is in order so I'm left confused on what to do, please any advise anyone!
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TLDR : Answer Summary
The issue stems from the fact that Wise is not considered a bank, which is a requirement for funding your retirement visa application in Thailand. Initially, applicants can apply for a Non-O visa from their home country and must provide proof of funds held in a Thai bank account. Money must remain in this account for at least two months prior to applying for an extension. Several community members suggest showing recent bank statements from the original bank account where the funds were transferred from. Alternatively, it's advised to hire an agent to streamline the process and avoid potential complications.
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.
Just use an agent. Easy, quick, no long questions to post, no homework to study up on, no research on web to sort through, all done while one enjoys this in... so all while incountry. no question needing answers. Yes will cost you. But its easy and you have the funds. Yes you can do all by yourself for cheaper, but having someone who knows the system and maneuvers within it... oh hell... one's time is better spent.
I definitely agree with you on this for sure. My other question is should I move funds back to my bank account away from wise until using an agent and that happens? Also, did you use one and any pointers.
searching for good agent in web. and find good one. there are many agents. and ask them and listen to their answers and offers. If you agreed, they can solve all problems once you paid. That is simple.
Reply to
Yo***
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Daniel *********
Be aware you may transfer from Wise to Thailand but may not be allowed to transfer back to your account in your country through Wise.They like to play games here.Also no interest
on 800 000b.Be prepared to be disappointed in your paradise IMHO
Jon *****
Yes, I have some great advice and probably the best advice you will ever be given, as it could end up saving you time frustration and money. It pays dividends to do your research information is readily available.
Jon *****
Hiccup...... π€. I wish you well.
Dorothy ******
ORIGINAL POSTER
I don't think some understood the question! THE RESEARCH WAS DONE, and EVERYTHING was in order except the confusion of realizing that they don't consider Wise a bank which I have transferred most funds over to. So my question was how to go about this, if to maybe transfer funds back or a better solution. Thanks to all who understood the question and gave helpful answers, I appreciate you.
can you give me more insite on on this process since I've already transferred the funds to wise? Are you saying transfer back to my Amex and use and agent when there then transfer to Wise?
It's got a lot harder to get bank account in Thailand even via an agent. Better to get non o from home using a proper bank, get the non o go to Thailand open a bank account transfer the required money into it then apply for the one year. Wise will not be accepted for either application or the one year.
Yes best thing move on put it down as a lesson. Just a pain to find out the hard way. I use wise as transfer only I never put money into my wise account.
okay thank you will try that appreciate it ππ½
Reply to
Dorothy ******
Reply
Caroline *******
Question: Are you applying for your e-Visa from your home country as the first stage - i.e. the Visa is for 90 days and you will extend when you're in Thailand.
And is the proof required at this first? Or something else.
I ask because I shall be applying for my Retirement Non O Visa shortly.
I have moved money for the Visa from my Nationwide Bank to Wise (as Wise attracts interest) and so your situation may be the same as mine?
Sean *****
Nationwide is not a bank either itβs a building society, not sure how Thai embassy views it
Sean *****
Not sure how fussy there are but actually nationwide is not a bank either itβs a building society, not being funny but just saying technically not a bank and thatβs why they refused wise
if it is a Building Society, it operates in the same way banks do, so there wouldn't be any problem sending money to an overseas bank account (Thailand in this case). While Wise might be good for money transfers to overseas accounts, it isn't a bank, Building Society or Credit Union that operates like a traditional bank, so that's why a Thai Embassy or Consulate won't accept funds with them as proof for Visa purposes. What
would need to do if she doesn't have sufficient funds in a traditional financial institution like the three I mentioned, is to transfer her funds back to her original account where the money came from, then provide the proof of funds from that account.
yes applying from my home country and moved it from my Amex account to Wise and applied for the retirement O Visa with everything else in order but the email got me lost and confused.
Wyse sends the money to Kasikorn bank. That is their contract. Even Thai Goverment approved all money transatcions go through Kasikorn bank. See that note when you have to pay anything with Thai Immigration.
Doesn't have to be in a Thai bank for the initial 90 day non-o retirement visa
Reply to
David **********
Reply
Stuart ******
You have to apply for a O visa for retirement in your own country which is for 3 months. You will have to prove funds in your bank. Once you arrive in Thailand you need to open a bank account and put the retirement money in the bank it has to be there for 2 months. You can then go and get a extension for 12 months.
It is not that straight forward.How to transfer the 800K THB without providing the source bank and the destination bank?
There s a form, that asks for everything and anything about the destination bank account, even their head office of your bank branch, their phone numbers, address.
A Mickeymouse Wyse, made it impossible for me.
From the biggest bank from Japan, Mitsubishi UFJ, bigger than CitiBank, HSBC, DeutscheBank,BNP combined.
For a 1 year retirement extension the 800k must be in a Thai bank account for 2 months before you apply for the extension and 3 months after you get the extension. It cannot drop below 400k after that. You will need to bump it up to 800k again 2 months before the next extension. Different immigration offices may interpret the rules slightly differently so check with you immigration office.
I believe after 4 months you can use upto 400k. But it has to be back upto 800k 3 months before your extension again.
Reply to
Stuart ******
Reply
Brandon ************
Wise is not a bank. It's a fintech service. Where did you transfer the money FROM? That was more likely a bank account. How long ago did you transfer the money? Perhaps you can show the bank statement from there if it was a recent transfer.