Monomial Posted February 15, 2018 Share Posted February 15, 2018 I am trying to deal with a payment service in Singapore, who will be sending repeating USD payments to my Bangkok Bank account in Thailand. They are refusing to do a SWIFT transfer until I provide them with a list of correspondent banks suitable for a transfer to Bangkok Bank. This is their procedure and they won't budge. They told me to get this from my bank, which I dutifully tried. I called 1331, and explained I wanted a list of correspondent banks. I was placed on hold for 30 minutes, and then hung up on. I tried calling again, and this time the representative did not speak English well enough to understand my question. I tried a third time, and all I got was someone who kept trying to tell me about their New York service, but just couldn't understand that I needed a list of every correspondent bank they have, not just their preferred one. I was extremely frustrated and before I became belligerent, I thought I would ask here and see if anyone knows how to accomplish this. Has anyone ever successfully obtained a list of correspondent banks for Bangkok Bank, and do you have any recommendations on how I can go about getting this elusive list? Any help is appreciated. Link to comment Share on other sites More sharing options...
asiaexpat Posted February 16, 2018 Share Posted February 16, 2018 I can not answer your question but suggest you investigate using Bangkok Bank ACH transfer method. Review the Bangkok Bank web site for details. This method reduces cost and eliminates your problem. Link to comment Share on other sites More sharing options...
Langsuan Man Posted February 16, 2018 Share Posted February 16, 2018 I would contact Bangkok Bank in Singapore and ask them: http://www.bangkokbank.com/BangkokBank/InternationalNetwork/Pages/Default.aspx http://www.bangkokbank.com/BangkokBank/InternationalNetwork/InternationalBranches/Singapore/Pages/index.aspx Link to comment Share on other sites More sharing options...
Pib Posted February 16, 2018 Share Posted February 16, 2018 Can't help with the list you are asking for, but it sure sounds like your Singapore payment service is one lazy service....they can find/lookup that info themselves in accomplishing the transfer. I can understand why "any" customer such as yourself being asked to provide such info would react like a "Deer in the Headlights." I expect they would have asked for such info regardless of Thai bank you wanted to transfer to. Link to comment Share on other sites More sharing options...
topt Posted February 18, 2018 Share Posted February 18, 2018 On 16/02/2018 at 11:22 AM, Pib said: Can't help with the list you are asking for, but it sure sounds like your Singapore payment service is one lazy service....they can find/lookup that info themselves in accomplishing the transfer. I can understand why "any" customer such as yourself being asked to provide such info would react like a "Deer in the Headlights." I expect they would have asked for such info regardless of Thai bank you wanted to transfer to. Agree wholeheartedly with your first line Pib however I always thought it was the sending bank that picked the intermediary bank it was going to use anyway? Certainly my experience dealing with transfers out of the UK and China. Hence why posters encounter issues when asking their receiving bank where some fees have been taken and getting blank looks. Link to comment Share on other sites More sharing options...
Ginkas Posted February 18, 2018 Share Posted February 18, 2018 Agree with topt. It's the sending bank that uses the intermediary, or correspondent, bank which usually depends on where the receiving bank is located and which one it is. When Lloyds Intl sends to my UOB bank in Thailand they use Barclays London. When I used to send to Kasikorn Bank they used National Westminster. Asking the receiving bank would result in a list of dozens if not hundreds of banks worldwide. Link to comment Share on other sites More sharing options...
simoh1490 Posted February 18, 2018 Share Posted February 18, 2018 I don't understand why the sending bank needs the receiving banks correspondent bank list, a correspondent bank is used by the sender, not the receiver! Link to comment Share on other sites More sharing options...
Pib Posted February 18, 2018 Share Posted February 18, 2018 2 hours ago, topt said: Agree wholeheartedly with your first line Pib however I always thought it was the sending bank that picked the intermediary bank it was going to use anyway? Certainly my experience dealing with transfers out of the UK and China. Hence why posters encounter issues when asking their receiving bank where some fees have been taken and getting blank looks. Sure...they would choose the intermediary bank to use but it should be an intermediary bank that both the Sending and Receiving bank use to speed-up the transfer and reduce possible intermediary fees. Try to avoid the situation of the chosen intermediary bank also not having a banking relationship with the receiving bank and then that intermediary bank needing to relay the funds to another intermediary bank that does have a relationship with the receiving bank. Link to comment Share on other sites More sharing options...
mfd101 Posted February 19, 2018 Share Posted February 19, 2018 Doesn't sound sound like an even half-competent "payment service" in Singapore. Perhaps you should use an experienced bank? Link to comment Share on other sites More sharing options...
Poppadom Posted February 19, 2018 Share Posted February 19, 2018 USD transfers need to go through a first party that is registered with the FED and has a dedicated routing number. A quick google tells that for Bangkok Bank it is their NY branch Intermediary: BKKBUS33 BANGKOK BANK PUBLIC COMPANY LIMITED, NEW YORK Account with: BKKBTHBK BANGKOK BANK PUBLIC COMPANY LIMITED, BANGKOK A/C - your account number. People also ask What is the routing number for Bangkok Bank? 026008691 By stipulating the 9-digit routing number for Bangkok Bank's New York branch (026008691) in your US transfer instruction, the funds will be transferred via the US ACH system directly to the receiver's Bangkok Bank account in Thailand, for a lower fee than most other international wire transfer services. Link to comment Share on other sites More sharing options...
koo Posted February 19, 2018 Share Posted February 19, 2018 Bangkok Bank's USD correspondent is JP Morgan Chase. They clearly state that in their standard settlement instructions: http://www.bangkokbank.com/download/ssi.pdf The document seems to be 11 years old, but since it clearly visible at their own website (and 1st result in Google for "Bangkok Bank SSI") I have to believe it is valid. FX & MM settlement instructions are normally valid also for payments unless stated otherwise. Foreign branches of banks quite seldom operate in the payments field (I know Bangkok bank does, but the service is very limited), the branches are there for access to local markets (FX & MM mainly) and to serve corporate customers. Link to comment Share on other sites More sharing options...
Poppadom Posted February 19, 2018 Share Posted February 19, 2018 1 hour ago, koo said: Bangkok Bank's USD correspondent is JP Morgan Chase. They clearly state that in their standard settlement instructions: http://www.bangkokbank.com/download/ssi.pdf The document seems to be 11 years old, but since it clearly visible at their own website (and 1st result in Google for "Bangkok Bank SSI") I have to believe it is valid. FX & MM settlement instructions are normally valid also for payments unless stated otherwise. Foreign branches of banks quite seldom operate in the payments field (I know Bangkok bank does, but the service is very limited), the branches are there for access to local markets (FX & MM mainly) and to serve corporate customers. You're right, I stand corrected. Didn't see the SSI PDF. Link to comment Share on other sites More sharing options...
Monomial Posted February 21, 2018 Author Share Posted February 21, 2018 On 2/19/2018 at 8:02 PM, koo said: Bangkok Bank's USD correspondent is JP Morgan Chase. They clearly state that in their standard settlement instructions: http://www.bangkokbank.com/download/ssi.pdf Thanks koo. This is exactly what they wanted. I guess if I had known the correct acronym to use was "SSI" this would have been much easier. Really appreciate it. This could have gone on for a while without your help. Link to comment Share on other sites More sharing options...
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