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Daveroc
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Posts posted by Daveroc
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If it still hasnt arrived, get in touch with the bank this end, some of these banks here have a tendancy on occasion to put your cash in a head office holding account and then not transfer it to your account, and they are getting interest on your money, this happened to me a few years....had THB 500,000 disappear for 28 days after a SWIFT transfer from Singapore, the money left the account within a few hours of giving the instruction from the Singapore end.
I went back to work, came home a month later and the money still hadn't got into the account....The Thai bank of course blamed the Singapore bank, who had kindly started trying to track the transaction....My Singapore banks comment/question once all this was resolved...Are all Thai banks so incompetent, that they cant effect a simple SWIFT transfer correctly....
I appreciate your incident was a few years back. However I have had occassion to investigate a number of the transfers that have been claimed to have been held back for the sake of a few bahts interest for the benefit of the bank. On each occassion it has generally been the result of incomplete information being provided and and the funds could not be applied to the correct person with absolute certainty. There are thousands of transactions done daily in any banking system. The vast majority are completed in excellent timing as attested to by some posters on this thread. Occasionally an error will be made and this is frustrating.
If the orignal poster has his money being directed to Bangkok Bank I will happily investigate it from this end if he cares to PM me.
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Provided you have issued the instruction to your Bank in the UK within the working hours it should take minimum 24 hours, potentially 48 hours if the your UK bank does not have a direct relationship with your Thailand bank. If not to hand by tomorrow I would suggest contacting your UK bank seeking an explanation.
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It is possibly to open accounts even for short term visitors. I attach a link to Bangkok Bank website outlining what you need.
The aspect of an address can be challenge at times. If you have family members or friends who are prepared to receive mail then use this. Realistically you will receive little to no mail from the Bank. The main record is the Savings passbook so statements are issued.
The Bank is obliged to have some address that they can endeavor to contact you should some incident arise. It does not do any harm to have a document showing your home address that can be recorded.
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Maybe you can answer this question for me: Why the h#ll are Bangkok Bank's ATM machines always either off-line or otherwise malfunctioning? Over the years, I have always found your bank's ATM network to be the least reliable. If there is a bank of 5-10 ATM machines in an office building or shopping center, if one is broken/off-line, it is invariably the Bangkok Bank ATM!
In fact, it has been such an annoyance to me over the years, I have opened new accounts with BAY and Kasikorn bank and am much happier with their now
I appreciate your frustration. The short answer is that they should be operating. We make significant investment in placing the machines and loading them with cash. If they are not working then we lose customers, such as yourself, through frustration and income through not having them open and customers finding competitor machines to use. We have service teams and Service level agreements in place to maintain as high an uptime as we can get .
Some four years ago we undertook an extensive placement programme to increase the availability of machines and we now have around 7000 throughout the Nation. Obviously with this many there will be stoppages but we do endeavor, for a number of reasons, to get them back on line promptly
Dave
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As a new account holder with BB I'm pleased to see a support network here.
I closed my acct of 5 years with another bank when they refused to complete my money exchange transaction because 1 of the bills had a single digit written on it. When I produced my passbook to identify myself as a customer they directed me to BB right across the soi. In BB I was treated like a customer from start to finish and exchanged my currency with no problem whatsoever. I then went back across the soi to "my" bank, closed the account and opened one with BB. So, "my bank" was indeed correct - I was in the wrong bank!
While in BB they were promoting an 11 month cd and I decided to participate. I transferred enough money from my "home" bank to do so then was rejected on that transaction "because I do not own a home" The fact that I hold a Thai title to a 5 million baht boat (which is my home) did not change their minds. Sigh. So many quirky rules. Since the bank would be holding my money I have a hard time understanding the risk they see. I did manage to side step this though and opened the cd in my Thai wife's name. It does raise issues for me though about the bigger picture and where I should bank as I'm about to remove a good chunk of money from US banking. Perhaps "offshore" (HSBC Premier) is the answer?
Some good and bad news for Bangkok Bank. There is no requirement for you to have a home in order to particiapte in the Fixed Account offerrings. We do require a local address to open an account and I can only assume some misinterpretation on our staffs part. I will PM you for further details of the Branch and will address it with them
Dave
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The standard information required to transfer money between Banks is the receiving Banks SWIFT code and the beneficiaries name, Bank, branch and account number. At times Banks will ask for an IBAN number which is pretty much limited in use to European Banks. Not applicable here in Thailand.
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Thanks everybody for the advice looks looks like buying AUD in thailand will save about 20000 baht but it will have to be hand delivered.
If you are looking to transfer through the banking sysyem please PM me and we can discuss if options available. (BBL employee)
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Generally always better to remit foreign funds into Thailand and have them converted in this market.
I have a Nationwide Account and I would like to know the procedure for transferring funds in sterling to my Bangkok Bank Account here in Thailand via the Bangkok Bank London and the charge for doing so.
Thanks
I have attached the link to Bangkok Banks Website setting out the procedure. Should you need further assistance please PM me.
(Am BBL employee)
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If you have the option, consider transferring the funds to Australia in AUD . Current rates on BBL website show a sell rate of 31.4725. which would give you 9,532.13. A buy rate of Thai baht from the NAB website will be .0297 giving you 8910. There probably is not a big market for Thai Baht in Australia which is reflected in the rate the Banks are offerring.
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As a US citizen residing in Bangkok most of the time, I'd like to see a plain language explanation of what advantages I would get if I opened an account at the New York branch of Bangkok Bank. I currently have a local Bangkok Bank account here in Thailand.
Would I be able to have my Social Security directly deposited into the New York branch and draw on it here? Currently, I have the SSI deposited directly into a US bank and I withdraw it by ATM but that is becoming an increasingly expensive option. Would I be able to set up regular transfers to the local Bangkok Bank account from the NY branch for less cost than I am paying ATM's.
I did read the Bangkok Bank website about the New York branch but is was quite unclear on many questions.
Thanks
Bangkok Bank New York is not in a position to open personal accounts. They are the vehicle that is used to transfer the funds from the USA to Thailand. It is possible to have your pension transferred directly to your Thailand account through the New York office using the US Automated Clearing House system (US ARCH). Attached is a link to the website detailing this procedure from which you could make a comparison on fees currently being experienced compared with this approach.
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Banks as well as currency exchange dealers offer rates in this currency. Current buy rate this morning for notes at Bangkok Bank is 4.43
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Should you bring cash to a Bank for Exchange, the Bank will apply the Bank note buy rate. (buy versus sell is always from the Bank perspective). This rate is generally the least attractive offerred by Banks. In theory Banks are required to buy the cash, parcel it up and send the physical notes back to their country of origin to get reimbursement. The costs in doing this include shipping, Insurance and the Exchange risk that they may occur while waiting reimbursement. Often however the bank can resell this money to customers that are wanting to travel overseas. However, surpluses do occur and the repatriation of the notes does occur.
If a customer arranges to bring funds into the country via SWIFT, electronic transfer, no physical cash changes hands. It is book entries between the Banks. All parties, customer and Banks, have almost immediate access to the funds and can do what they wish. From the Banks perspective they have funds available to say satisfy a sell order for say an importer wishing to pay his account overseas. The TT buy rate is applied
The sight bill buy rate quoted is for customers lodging overseas cheques into their accounts or travellers cheques. Also not the most attractive as the Bank will need to send the cheque back to its country of origin to get the funds for customer or to reimburse themselves if they have paid out to customers with travellers cheques.
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Bangkok Bank? The idiots wouldn't even give me an internet banking account, so I have to go to the branch every time I want to transfer money out.
Happy to investigate and endeavour to provide some assistance if you wish. Please PM me.
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I may be biased because I work for Bangkok Bank but have always found them excellent. If you need assistance opening an account, happy to assist. PM me.
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Having been an employee through 4 mergers (takeovers) albeit not in this country, it generally takes one to two years for the banks to get their systems talking to each and uniformity in the products being offerred. It is a huge task to migrate the customer base from one bank onto the platform of another. The banking regulators, in this case Bank of Thailand keep a close watch on the issues. You should encounter no problems when you return. Just keep all your paperwork
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Possibly the renewal fee of your ATM card?
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An update for the Biz IBanking product is planned for release this month which will see access available via FF.
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Happy to take up the challenge Paulchangmai but would prefer to try and sort your I.Banking problem out. Please PM me in order that I can get some details and follow through for you.
Dave
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I note the comment from an earlier poster stating that K.Bank are generally the only bank to open an account without a work permit. As an employee of BBL I can state that that comment has absolutely little merit going by the number of accounts we open with tourist Visa's on a daily basis. Yes I am sure some one has been to a branch and been declined, but as we have stated on this forum a number of times, a work Permit is not required. other documents can take the place of the work Permit
I refer you to the website link outlining requirements.
And your statement has little merit as long as your branches keep telling numerous farangs that they need a work permit to open an account.
And to be fair, it's not just your bank, they all do it.
I have a work permit and they still will not open an account for me.. they said I have to have money...! strange...!
Despite considerable training we, like many organisations, will always be reliant on the staff member the customer comes in contact with. Farang or Thai.
In an effort to build on the customer image of Bangkok Bank service by Expatriate members of the forum, i am happy to take PM's to resolve issues should a member be having particular difficulty
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Happy to assist if you wish to PM me.
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I note the comment from an earlier poster stating that K.Bank are generally the only bank to open an account without a work permit. As an employee of BBL I can state that that comment has absolutely little merit going by the number of accounts we open with tourist Visa's on a daily basis. Yes I am sure some one has been to a branch and been declined, but as we have stated on this forum a number of times, a work Permit is not required. other documents can take the place of the work Permit
I refer you to the website link outlining requirements.
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For the record, be aware there are two limits. One for ATM cash withdrawals and one for spending. As such you may have a spending limit of 100,000 baht per day to make purchases and a cash withdrawal limit of 50,000 baht per day. Collectively 150,000 baht per day. Adjustments to limits can be made by calling the Banks call centres.
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I regularly remit funds larger than that to Thailand. There has of recent times been an added request to provide an address of the beneficiary, myself, which is an effort to tighten up on money laundering etc.
I suggest you get past the call centre and talk to your branch. There is no exchange control in NZ these days and as such the Bank cannot restrict your transfer of funds if all is legitimate.
However they should, and do, advise you of precautions that they take for both you and theirselves protection.
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The statement made was relating to the issue of where you should exchange the currency, not the channel used to transmit the currency.
Sorry. I thought that you meant "bring cash" when you wrote "bring currency".
There really are people who believe you get a better rate for cash, but I'm glad to learn that you aren't one of them.
You are of course entirely correct that the best rate of exchange will be in Thailand, not in Farangland, for precisely the reasons you gave.
Thanks Darrel,
Pleased to see that I have picked up something during my 41 years in Banking
Swift Transfer How Long ?
in Jobs, Economy, Banking, Business, Investments
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Confirmed, but I am not sure all banks charge an additional fee to send it out to the branches.