Pumpuynarak

Well i've been trying to do an HSBC Swift transfer to SCB for the last 24 hours with NO success, they keep saying their system is down and to try again later, perhaps what the OP is experiencing is related to my problem and they have withdrawn the facility whilst they sort it out. I have messaged them and am awaiting a reply, its just not good enough.....

18 hours ago, Jip99 said:

 

 

I have to say that I have low expectations on that one....????

Me too, thats why i've gone back to Swift transfers which i had been doing for years until TW arrived on the scene, good luck. 

4 minutes ago, Pilotman said:

RBS fee £24 for standard international transfer, up to 5 days, can take 7;  £34 for their 'fast track' transfer, which takes 3 days, so hardly fast.  That's why I use Transferwise.  

and i can quite understand why, at least Dick Turpin wore a mask lol. My Swift transfer i did early July was completed the same day, done at 10am, received at 2pm with the charges as i said. 

29 minutes ago, Jip99 said:

 

 

I can't live with that - despite paying no fee with HSBC.

 

I will continue to use Transferwise to get a better result - and will encourage Immigration to understand my monthly transfers of 200,000 Baht.

You have my best wishes.....

1 hour ago, Pilotman said:

But in comparison to Tranferwise, at least with my UK bank, a swift transfer is a very expensive way to transfer money. 

HSBC fee = 4GBP, SCB fee = max 500bht, i don't call that expensive, but thats me.....

The only downside is SCB's crap exchange rate but i can live with that to ensure foreign transactions showing on my SCB statement.

12 hours ago, lucky2008 said:

Last week I gave TW specific instructions by email asking them to route my funds from the US directly to my Bangkok Bank account without using any intermediary bank.

 

This is the reply I received: 

 

Hey XXXXXX,

 

Thanks again for getting back to us. 

 

What we can do for you is to add a tag to your recipient account where it will instruct the system to - as much as possible, send the funds via Bangkok Bank.

 

However we cannot guarantee that it will always be sent out via Bangkok Bank, as there could be unforeseen situations where Bangkok Bank might be facing a technical issue and the system will thus route the payment via another available partner to ensure same day delivery.

 

Additionally, this tag can only be added to THB bank accounts that are in your recipient list. So to add further clarification:

 

I'll add a tag to the THB account ending with XXXX that is currently in your recipient list, however if you need to send funds to another THB bank account - you'll have to get in touch with us again after adding the new bank account to your recipient list so that we can add a tag to the new account.

 

I hope this clarifies. If you need any further clarification, please feel free to reach put to us - we're here to help.

 

Best regards,

XXXX

 

***************************************************************************************

 

So yesterday I received a transfer to my Bangkok Bank account, but instead of the usual "International Transfer" message I see on my BualuangMBangkok mobile application it said "Interbank Transfer via SMART" 

 

This morning I went to by bank to update my passbook, and then saw that the usual FTT code was replaced with SMT.  

 

I asked the agent if it was possible to print out a credit advice for a SMT transfer, she said NO.

 

I then asked if it was possible to add this transfers onto my yearly confirmation letter, she said NO.

 

I then asked her to tell me where the transfer came from and if I could have a reference number.

 

She then called Bangkok Bank’s main office, and was able to provide me the intermediary bank name, and the reference number of the transfer.

In this particular case the intermediary bank was Kasikorn.

 

With the information Bangkok Bank HQ provided, I drove out to Kasikorn Banks’ International Trade Service Center department.  *Going to a regular Kasikorn branch won’t work I tried already.

 

Once I arrived to Kasikorn I told the agent I needed a “Certification Document” stating that the funds originated from overseas. I told her I needed it addressed to Bangkok Bank. 

 

The Kasikorn agent asked to see my passport and Bangkok Bank bankbook.  I filled out a small form and payed 200 baht.  They told me if in the future I have multiple transfers they would be able to merge these onto one document if needed.

 

Below is how the “Certification Document” looks.

 

 

 

 

I then took this “Certification Document” back to my bank, and the agent confirmed that they would now be able to add this transfer onto my yearly confirmation letter.

 

Problem solved? ????

 

 

 

 

What happens if your TW transfer is routed through TMB, ya gonna drive out to their office too ?

Expats are living all over Thailand, where exactly are you driving to ?

3 minutes ago, ubonjoe said:

He was not even given the chance to show anything.

The officer was saying only a letter from his embassy or 800k baht in the bank was accepted.

Well the police order quite clearly states that 65k monthly income is acceptable for qualification, how bizarre !!!

24 minutes ago, ubonjoe said:

Not all offices are requiring that. Many will accept a standard letter from the bank confirming you account.

A bank statement can confirm that it if they arrived at the bank from abroad.

I appreciate that UJ but it looks like everything was supplied by way of bank statements but JL was still declined, i can only think of the bank letter that was missing, i wonder did JL ask why it was declined ?

7 minutes ago, ubonjoe said:

How is it incorrect.

I wrote what the police order states. It the seems the officer was wrong if you have been transferring at least 65k baht into a Thai bank and have proof it came from abroad.

From the police order.

What about the bank letter confirming transfers came from abroad ?

2 hours ago, Tanoshi said:

That is the local service fee for SCB converting your currency transfer to Thai baht.

 

If you look at your HSBC statement, you should find their £4 transfer fee listed.

All foreign bank transactions have to go through an intermediary clearing banks and these charges are usually made to your HSBC account up to two or three weeks after the transfer was made.

 

HSBC is actually one of the 4 main clearing banks in the UK, but transfer through one of their subsidiary branches in a different Country.

If you ask SCB for a full print out of the foreign transaction, it will provide the details of your HSBC account, plus the Intermediary bank involved, but will not provide charges made.

 

I suspect HSBC hide the actual transfer fees within the transaction itself.

It's vey easy to make a comparison of your actual charges by HSBC by comparing the amount you sent and received, then use the TW site entering the same sent amount and compare the difference in what you exactly received in THB through HSBC and what you would have received in THB through TW.

 

You could also calculate the transfer cost using Bangkok Banks London office to make the transfer and Bangkok Banks exchange rate as to what you'd receive as a comparison.

Thanks for your post, i'm on the case and will do as you suggest with my next transfer on 1st Aug and report back. I did do a small 100gbp transfer using Swift a week ago and only had the 4gbp charge from HSBC and then the hidden charge from SCB, here is the result.....

3473.75bht which equates to 34.73bht to the GBP but of course the SCB service fee has been taken off which i estimate to be 300bht so without the charge i would have received 37.73, that figure stacks up as SCB gives one of the worst rates in Thailand but at least i get the foreign transaction code, no other fees as yet from HSBC on my statement.

18 hours ago, Pumpuynarak said:

I did a transfer at 10am Thai time and it was in my SCB account at 2pm same day. The costs are difficult to work out as the fee that SCB charge is hidden in the Baht transfer amount, they just deduct from the amount. I have read somewhere in all the topics it ranges from 300-500bht according to the amount transferred and that would stack up on the amount i received, of course SCB's rate is one of the worst so you also have that to contend with but i have the foreign transaction code guaranteed as its a direct swift transfer.

 

18 hours ago, Tanoshi said:

HSCB charge £4 for an online transfer up to £50,000.

The intermediary clearing bank will typically charge £20-£30.

You should always send in £'s and let the Thai bank convert to baht as the exchange rate is better.

Transfers typically take up to 4 working days.

 

https://www.hsbc.co.uk/1/2/!ut/p/c5/04_SB8K8xLLM9MSSzPy8xBz9CP0os3gPI08LDwMTIw__YCdjA0cz36AwS09zIwNzQ6B8pFm8s7ujh4m5j4GBQZinq4GniZOJgamvm6GBpzEB3QW5oYoAtburIA!!/

 

You mention intermediary clearing bank but to my knowledge there is no use of such as the transfer is Swift direct from HSBC to SCB.

7 minutes ago, luckyluke said:

What's the difference in costs and time please? 

I did a transfer at 10am Thai time and it was in my SCB account at 2pm same day. The costs are difficult to work out as the fee that SCB charge is hidden in the Baht transfer amount, they just deduct from the amount. I have read somewhere in all the topics it ranges from 300-500bht according to the amount transferred and that would stack up on the amount i received, of course SCB's rate is one of the worst so you also have that to contend with but i have the foreign transaction code guaranteed as its a direct swift transfer.

39 minutes ago, Tanoshi said:

If you want a guarantee of a coded International transfer, without requesting further proof, make sure you bank with Bangkok Bank and make direct transfers from your US bank account.

Correct Sir, i bank with SCB and because of this issue with TW i now have gone back to doing Swift direct transfers from HSBC in the UK, all coded with FRC (foreign transfers)

3 hours ago, Thailand J said:

And the 800k is in the bank under your name still your money.

and when you spend it in Thailand its still only 800K lol

18 hours ago, snowballthecat said:

This is turning pathetic!  one has to do SWIFT because Immigration do not like Transferwise?

Everyday is a new one!

I believe the problem is that they can't verify the fact that TW PDF's you can supply are in fact genuine whereas a letter signed by your Thai bank poses no problem to them. As you probaly know everything in Thailand is believed to be fake unless you can prove otherwise, a terrible indictment of the country and its people imo.

In fairness to the very pleasant lady boss i saw she was happy to accept mine but i fear that in the future it may be a problem for me say if she got transferred or there was a directive from head office that only bank letters were acceptable proof, hopefully in the passage of time that will change and TW PDF's/bank statements will be accepted by all IO's.

12 hours ago, marcusarelus said:

You can keep it in or take it out - up to you.  It is worth what it is worth.  Go back home and get a 2 year O-A visa and take as much as you want out of your Thai bank account and go home in another 2 years and get another O-A visa. 

That is the only way its worth anything to you, will TI allow you to do this assuming of course that you have a home to go to in your home country ?

12 hours ago, Lacessit said:

The appreciation of the baht is only realized when one cashes in and leaves Thailand for good. The 800K for retirement extension is effectively dead money

BINGO, at last we have reality, your money is worthless to you all the time its in a Thai bank covering your retirement extension despite how much it might be worth on repatriation unless of course you're intending to return home.

4 minutes ago, tgeezer said:

Like pilotman, I get a good feeling when I see that I got the 800,000 fixed account cheaply and have as much right to be joyful in it as pensioners have to be sad at the drop in Baht value of their pensions.  Certainly people who preached that the loss of return in locking up fifteen thousand quid must be green when they see that it is now worth twenty one thousand to those of us who did it! 

So when are you going to take the profit lol

15 minutes ago, JohnnyBD said:

A friend of mine bought a house with his wife 2 yrs ago with his money of course and since a foreigner's name cannot be on the title, the house & property it sits on legally belongs to her. I cautioned him about doing that and suggested he buy a condo in his name, but he succumbed to his wife's wishes and bought the house. Well, now they are getting a divorce and the house and property is hers. He lost his money and has to start over. Feel sorry for him, but he knew the risk. Probably a common occurrence here. Just a cautionary story for newbies.

If they were legally married before he bought the house he's legally entitled to 50% from the sale proceeds.

On the subject of the so called investment its totally worthless to the account holder unless he repatriates the money to his home country.  

15 hours ago, SooKee said:

23 hours ago, Pumpuynarak said:

My 15gbp charge when swift transferring 2000gbp was clearly stated on my HSBC statement.

If it's a fee HSBC are charging it will. If it's an intermediary fee it won't.

But if its a swift transfer why would they be using an intermediary, i thought swift was direct.

13 hours ago, tracy3eyes said:

Just direct from Halifax Uk using swift. And it arrives FTT

5 hours ago, Dene16 said:

 

Transferwise has already stated they cannot guarantee the FTT code

Many posters have recieved both

So on the basis that yourself and a few other people have recieved the FTT code we are supposed to think everything is OK?

Are you prepared to risk your extension when you suddenly realise they haven't been coming through this way for a few months and the ensuing panic to try and sort it out

Just re reading tracy's post Dene and it would appear the transfer was done direct using swift not TW (it was early this morning when i posted lol)

Thats exactly what i did yesterday using swift direct from HSBC UK to SCB and it appeared as a foreign transaction on my SCB statement

20 hours ago, Pumpuynarak said:

Me too but i also understand that there maybe a problem with Swift transfers showing as "international" if your bank is using an intermediary. I've just done a small tester of 100gbp from HSBC to SCB to check it out, will report back when i eventually receive the money.  

Well would you believe i did my swift transfer at circa 10am Thai time and at 2pm it was in my SCB account !!! the amount was 3473.75 bht, this amount was obviously including their fee and awful exchange rate, no where was the fee shown separatley, clever ehh...

BUT the most important issue was that it showed as a FRC1 (Foreign Remittance/settlement) on my bank statement so it is the way forward for me to go.

Does anyone know the fees charged by SCB for swift transfers before i contact them ? i find their call center rarely has the answer and they have to call me back which sometimes does'nt happen. I reckon i was charged something like 300bht for 100gbp, i would think the more you transfer the charge will reduce.

1 hour ago, Dene16 said:

 

Transferwise has already stated they cannot guarantee the FTT code

Many posters have recieved both

So on the basis that yourself and a few other people have recieved the FTT code we are supposed to think everything is OK?

Are you prepared to risk your extension when you suddenly realise they haven't been coming through this way for a few months and the ensuing panic to try and sort it out

BINGO

19 hours ago, SooKee said:

I'm kinda guessing your £50 will result in 700-800 baht less than you'd expect. Be great if it doesn't.

It was 100gbp and i reckon the SCB fee was circa 300bht.

19 hours ago, SooKee said:

And no audit trail of these fees either end Statement wise. Even HSBC won't tell you. They say the only way to check will be a transfer enquiry which then cost something ridiculous.

My 15gbp charge when swift transferring 2000gbp was clearly stated on my HSBC statement.

20 hours ago, Pumpuynarak said:

I've just done a small 100gbp transfer to my SCB account from HSBC and paid the 4gbp fee, lets see what happens at this end, will it show as a foreign transaction and how much will SCB charge ?

Well would you believe i did my swift transfer at circa 10am Thai time and at 2pm it was in my SCB account !!! the amount was 3473.75 bht, this amount was obviously including their fee and awful exchange rate, no where was the fee shown separatley, clever ehh...

BUT the most important issue was that it showed as a FRC1 (Foreign Remittance/settlement) on my bank statement so it is the way forward for me to go.

Does anyone know the fees charged by SCB for swift transfers before i contact them ? i find their call center rarely has the answer and they have to call me back which sometimes does'nt happen. I reckon i was charged something like 300bht for 100gbp, i would think the more you transfer the charge will reduce.