@Henrik ****

and yet they will happily let you open one using an agent, this is not a country contaminated by logic

@Von *****

this is not being driven by Thai government it’s OECD and the yanks that are trying to close bolt holes for tax evasion and unless Thailand decides to go rogue (which is of course possible) then it’s going to happen as thailand seeks to become part of the global financial community (and grow up)

Thailand has deployed CRS which is common reporting standards so full visibility of all financial transactions - what they do with it is another matter, taxing remittances will be easy, but many will ignore until it’s linked to resident visa - worldwide income whole new ball game which is why it’s only “proposed” I guess - tax evasion gets harder as more countries fall in line…..which is the whole idea

Only way is to pay an agent to grease wheels at the bank absurd, but TIT 😊

Wise

I just made A couple of transactions, one was coded general living expenses, and the detail page is very vague about origin of funds, came through in seconds. I did same transaction using long term stay option, also came through in seconds and on details page it has a comment in reason field “ long term visa requirement” so I think that clarifies it….sadly, folks who have spent a year clocking up their monthly 65k transfer without using correct reason will hit a snag with immig…thanks Brendan for clarifying this

So has this changed in the last 6 months, as I queried this with SCB and they assured me that it was coded on my bank statement as an international transfer from Wise they also explained the different codes to - me who identifies this ? the bank when they do the letter for immig, or are immigration officers conversant with the various different banks transfer codes ? I also have local transfers into my account and codes are definitely different - this can have serious consequences for many people, as wise is widely used so important we get facts straight - I will try to verify with both my bank and immig (in Phuket at least) during the course of the week.

@Brandon ***********

yep got that but when I checked with by bank they told me it was an external transfer - I will enquire further , otherwise it negates Wise completely and back to inflated bank charges and crap exchange rates

@Brandon ***********

when I checked with my bank SCB last year , they confirmed code for general living expenses showed it came from outside Thailand have I missed something

NEver had an issue , maximum is 12 hours and they keep You updated - do transfer every month