Answered9 months ago
Why does my Kbank transfer from the UK show as 'Trade Finance'?
A quick question to all the Kbank users. I’ve not had this account long. I’m just wondering why my transfer from my UK bank to my K bank, says Trade Finance. I’m a little concerned that it has not been set up correctly and when I come to submit statements it will not have international or overseas payment on the statement.
Please see the photo
Please see the photo
Answer summary
A user questions why their transfer from a UK bank to Kbank shows 'Trade Finance', expressing concern about its correctness for immigration documentation. Responses clarify that 'Trade Finance' indicates an international transfer and is acceptable for visa applications. Users share experiences regarding Wise transfers and recommend ensuring proper labeling for immigration purposes. They advise checking with Kbank for necessary documentation and suggest using direct bank transfers for clarity in records.
37 repliesnewest first
Click comment and we will ask for your email, then OTP, then name.
Hubert *********
You have to ask Kasikorn for the document of the international transfer every month and that is for free. They can go back for 3 months only. If you wait for 1 year then you will have to pay 6000 bht. Please get the information at the bank yourself .😉
Max *******
thats why u have gold and cash and leave little in banks..in thailand gold is money !!! baht is currency
Max *******
pound to baht is trade finance !!!
Nick ************
My office also wants my home bank statements to tie up money out of UK with money into Thailand.
Bent *************
Make the transfer bank-to-bank instead of Wise.
Bob *******
My friend had problems with trade transfer. Change statement to the Thai version
Mark *********
When you do the transfer each month after selecting Long term stay in Thailand. Write in the box below. UK Pension. My Wise transfers always have this information. When you print off your yearly Wise statement for Immigration it will always say UK Pension on the description.
Ian ********
all good.
open the edit button for the category and I think is also an option to further suggest it's an overseas transfer for living here.
open the edit button for the category and I think is also an option to further suggest it's an overseas transfer for living here.
Brook ********
What happened to the option “Transferring funds for long stay in Thailand”?
Heinz ***********
@Brook *******
still an option.
Gregory *********
Wise has a direct connection to kasikorn bank in thailand. I dont know if it will affect immigration extensions. Also if you transfer from Wise to bangkok bank it shows as an international transfer.
Bill *******
@Gregory ********
It most definitely will affect your visa extension. You need a letter from Kbank to say it is an international transfer or funds.
Adam ******
@Gregory ********
There was a poster on very recently who was refused at extension time purely on this. His transfers from Wise to SCB went via Kasikorn and therefore not international. This all changed on Sep 1st last.Heinz ***********
@Adam *****
thats because Wise’s correspondent bank is Kasikorn, from where the money goes locally to e.g. SCB. In this case you need a bank letter confirming the international transfer.Gregory *********
@Adam *****
yes. I have seen some issues reported, but i do not use that method. I use 800k method.
Raymond *********
Simple : trade finance is à bad translation. Use the thai version and Google translate it, it says international transfer
RFI *****
Deposits from overseas are usually marked as trade finance deposit and sometimes it will be marked as transfer deposit depending on what channel or company you used to transfer the money. If you're planning to use this money for retirement visa then better make sure it is marked as trade finance deposit and not as just transfer deposit. If not marked as trade finance deposit then immigration won't accept it as foreign deposit for retirement visa purpose. Cheers
Heinz ***********
RFI DTV does this apply for any immigration office?
RFI *****
That's the general rule... But every office might have their own rules.
Paul *******
Hi i see its from wise did you have to change anything in your wise account for it to be classes as international transfer as will be looking to do the same in the next few months
Thanks
Thanks
Ian **********
Paul Woods: When sending money via Wise, you should choose the option 'funds for long-term living in Thailand', which is the last option on the list. This ensures the transfer will be listed as an international transfer no matter which Thai bank you use.
Paul *******
@Ian *********
great thanks for the info ianStephen *********
OP@Paul ******
Nope, just put for long term stay. When I’ve sent money to my wife, I just put sending money to family and it still goes through as an international paymentPaul *******
@Stephen ********
ok cheers
Brian **********
"Trade Finance" is the statement code that Kbank uses to denote an International transfer of funds was deposited.
Stephen *********
OP@Brian *********
thank you 🙏Brian **********
@Stephen ********
my pleasureVaughn **********
Mine says the same on K Bank, it means international transfer.
It is perfectly fine for immigration when you show your bank statements.😀
It is perfectly fine for immigration when you show your bank statements.😀
Heinz ***********
@Vaughn *********
where’s the immigration you use?Vaughn **********
Udon Thani
Stephen *********
OP@Vaughn *********
thank you. That’s very reassuring 👍
Tony **********
@Stephen ********
depends on where you reside. Hua Hin immigration wants to see credit advice receipts for each foreign deposit in addition to the statementVaughn **********
@Stephen ********
No problem 😊
Al *******
I use both also and mine says the same. 🤷♂️
Stephen *********
OP@Al ******
is this sufficient information for immigration. I only got concerned after my Thai wife told me her statement says international payment when I send her moneyHeinz ***********
@Stephen ********
to my knowledge it is not sufficient. You need a written confirmation for International Transfer from Kbank. They do it all the time.Al *******
@Stephen ********
my understanding is that it doesn’t matter- and really is only applicable to the deposit for the one year long term visa, for which it also doesn’t matter. But I’m no oracle or expert and just kind of navigating it also. Hopefully someone else can advise.
Activity
21 joined21
people
Related
25Is using Wise for depositing 800,000 baht into my Thai bank account acceptable?
6.6k59682mo
Is it common to pay rent in Thailand directly from a Wise account to a landlord’s bank account?
17.5k1452144mo
Do I need to keep 800,000 THB in my bank for my visa extension in Thailand, or can I use 400,000 THB?
13.8k1002034mo
Can I send money to a Thai account using Wise and have it labeled as an international transfer for a long-term visa?
5.1k43536mo
Do the 800,000 THB bank requirement for Thai visas need to be from an international transfer?
8.4k6111110mo
Do I need to transfer funds as an international transfer for a Non-O visa in Thailand?
2.3k201910mo
What has changed with Wise transfers to Bangkok Bank, and will immigration accept them for visa renewal?
6.8k43811y
What should I do about transferring 800k baht using Wise for my retirement visa extension in Thailand?
3.9k30381y
Is it better to move mid-visa or at renewal time when relocating to a different province in Thailand?
4.1k20761y
Can I show 500,000 THB in a WISE account for visa purposes?
4.3k41261y
Can I use Wise to transfer funds for my Non O Visa extension in Thailand?
2.5k14331y
Can I use Wise for the 65k monthly deposit to meet my Thailand visa requirements?
4.2k37231y
Why does sending money to Thailand for a long-term stay take longer with Wise?
7.1k46651y
What alternatives can I use for transferring money to Thailand after Wise removed the long-term stay option?
12k111992y
What should I do if Wise no longer shows 'Funds for long term stay' for international transfers to Thailand?
2k13122y
Do funds for a retirement visa in Thailand still need to come from overseas, and how should they be transferred via Wise?
2.4k17122y
Can an American retiree in Thailand have Social Security deposited directly into a Bangkok bank account?
3.6k28152y
Can I use Wise for international transfers to purchase a condo in Thailand?
1.7k1343y
Is Wise acceptable for transferring funds for the 65k monthly income method on a Non O visa in Thailand?
2.7k16283y
Can I open a fixed deposit account while maintaining my retirement visa requirements in Thailand?
2.5k14314y
Can I transfer money directly from my US bank to Bangkok Bank for a retirement visa?
1.6k9144y
How can I make sure my Wise transfer to Thailand appears as an international transfer for immigration purposes?
4.5k38295y
How can I transfer 800K THB to apply for retirement in Thailand without hitting money transfer limits?
2.1k18105y
How can I transfer 800K THB for my O-A visa and what are the cash limits when traveling to Thailand?
2.3k12325y
Can I transfer funds from my home account to my Thai account for a retirement visa?
3.6k35178y
Resources
Need help with your retirement visa?
#1 visa agent · 4,000+ reviews · 100,000+ expats served