HSBC and Bangkok Bank, A Warning To All.

[SooKee]

  Transferwise details held for crediting at Thai bank:-

 

 

Beneficiary's bank name [bIC/SWIFT]

Kasikornbank Public Company Ltd. [KASITHBK]

Account number

12345678

Ermmmm - OK.  

 

 

When I set up my first payee with TW I had to input both the BIC / Swift and account. IIRC they have a Look Up feature which I didn't use. As I input the details I used KASITHBK which correctly pulled the Kasikorn HQ details. So the point, again, is that KASITHBK as a BIC is still in use and has not been pulled by Kasikorn from usage.

 

KASITHBK is however no longer available as a HSBC option when inputting a Kasikorn transfer. Only KASITHBKXXX. That appears to be a decision HSBC has made as opposed to them being forced to use that BIC as a result of Kasikorn pulling KASITHBK which, as of yesterday, is STILL in use.

 

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[Pib]

Looking at below K-bank webpage talking international transfers and their "Global Inward Form" a person can use to instruct another bank to transfer funds to K-bank, the webpage/form states to use KASITHBK.

 

https://www.kasikornbank.com/en/personal/services/payment/Pages/inward.aspx

[SooKee]

Looking at below K-bank webpage talking international transfers and their "Global Inward Form" a person can use to instruct another bank to transfer funds to K-bank, the webpage/form states to use KASITHBK.
 
https://www.kasikornbank.com/en/personal/services/payment/Pages/inward.aspx

Yes but you can't if your bank doesn't list it as an option. You will always get more information from speaking in person rather than merely relying on websites. Hence them providing the info that KASITHBKXXX is the alternative to use.

Anyway. Over and out from me in this as it's starting to go round in circles a bit.

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[uncleeagle]

Im sick of these kinds of obscene charges. Its a waste of time asking for explanations from the banks as their policy is to provide meaningless drivel as answers in order to not have to engage in logical discourse and be forced to admit they made a mistake or are just basically stealing.

 

For small transactions I now use TransferWise, it is much cheaper. 

 

As for the banks, in coming years fintech will hopefully beat them into a pulp, I hope they really suffer. 

[SooKee]

Used TransferWise for the first time today.  Most impressed!!  Did a transfer at 9am 15/1/18, had a mail arrive from TW telling me the funds would arrive by tomorrow (16/1/18), 4 hours later (1pm 15/1/18) funds arrived in my Thai bank.  Will be sticking with TW from now on.