SWIFT transfer from Canada (corresponding bank)

[JestSetter]

I am posting this again (from the bank forum) as I did not get any helpful answer for this topic. It is my hope that by asking the question here I will get an answer that could help others.

 

I am transferring some money from a credit union in Canada to Kasikorn. I have done this many times in the past, but they have changed procedures. Joy!

 

Now the credit union is asking me to provide them with a swift code for a corresponding bank (the banker and I were able to narrow it down to Nova Scotia using some PDF I found online*), but the NOSCCATT code (she tells me) IS missing 3 letters at the end. I am asked to contact "Kasikorn bank".

 

Does anyone know anything about this (new) procedure? What are the 3 letters missing?

 

I am told that TD is also used as a corresponding bank, btw.

 

*for a CAD fund transfer

[simoh1490]

https://www.kasikornbank.com/en/ApplyForServices/ApplyForServiceForm/GlobalInward_091158.pdf

 

BTW it's correspondent bank, not corresponding:

 

https://www.investopedia.com/terms/c/correspondent-bank.asp

 

Maybe also useful is the format of the SWIFT code:

 

https://www.commbank.com.au/support.imt.what-is-a-bank-identification-code.html

Edited September 26, 2018 by simoh1490

[JestSetter]

9 minutes ago, simoh1490 said:

https://www.kasikornbank.com/en/ApplyForServices/ApplyForServiceForm/GlobalInward_091158.pdf

 

BTW it's correspondent bank, not corresponding:

 

https://www.investopedia.com/terms/c/correspondent-bank.asp

 

Maybe also useful is the format of the SWIFT code:

 

https://www.commbank.com.au/support.imt.what-is-a-bank-identification-code.html

 

Thank you!

 

However, this PDF does not offer any additional information that I did not know or provided in the question. I do know the initial 8 or so characters. I am seeking the last 3. My bank is telling me they need more than that. Are they bullying me in the sense that they know I need this service. Maybe they are asking me to find something that is impossible. They seemed truthful in the correspondence though.

 

Thanks for the spelling info. I did not notice. Maybe my Google searching might be more successful now. LOL

[simoh1490]

11 minutes ago, JestSetter said:

 

Thank you!

 

However, this PDF does not offer any additional information that I did not know or provided in the question. I do know the initial 8 or so characters. I am seeking the last 3. My bank is telling me they need more than that. Are they bullying me in the sense that they know I need this service. Maybe they are asking me to find something that is impossible. They seemed truthful in the correspondence though.

 

Thanks for the spelling info. I did not notice. Maybe my Google searching might be more successful now. LOL

https://www.bank-codes.com/bank-of-nova-scotia-swift-code-NOSCCATTXXX-bic-code

[simoh1490]

Presumably, you've got it that the last three digits are a location code?

[JestSetter]

2 hours ago, simoh1490 said:

Presumably, you've got it that the last three digits are a location code?

 

Thanks, but I don't believe it is time to presume any code when one is sending money from one bank to another. I have emailed Kasikorn. Hopefully, they know.

 

 

[simoh1490]

2 minutes ago, JestSetter said:

 

Thanks, but I don't believe it is time to presume any code when one is sending money from one bank to another. I have emailed Kasikorn. Hopefully, they know.

 

 

Do let us know, in due course/

[JestSetter]

2 emails to and from Kasikorn (main branch) and both categorically explained that there is no such extra code (or that they do not need it). 

 

 

I have no idea what this is all about. I have dealt with this bank for decades and done transfers for years. It is as bizarre as it is odd. 

 

I plan to talk to the head of the branch, then to above her if needed. I swear that if they do not agree to send this money I will take all of my money from them and sue them for the trip I will need to do to make that happen. I should be happy. I will have an all-expenses paid trip.

[simoh1490]

Sounds like your credit union lady is only used to making localised transfers, it does say the code is either 8 OR 11 characters, seems she's so used to seeing 11 chars. that she thinks they must all be that way. Oh well, glad you got it confirmed from the horses mouth.

[ballbreaker]

As mentioned in post 9 the lady doesn't know some banks only use 8 characters.  The last three characters are the for the actual branch for you account.  The couple Thai banks I have used only use 8 same characters for all branches.  Perhaps Bank of Thailand requires 8 characters which is most likely the main branch.

 

If lady unwilling to process your request ask to speak with her supervisor and go up the chain if necessary.

 

The SWIFT code consists of either eight or 11 characters and is formatted as follows:

 

                            AAAA-BB-CC-DDD

• The first 4 characters are the bank code (only letters);
• The next 2 characters are the country code (only letters);
• Next 2 characters are the location code (letters and digits);
• The last 3 characters represent the branch code (letters and digits)

[JestSetter]

On 9/29/2018 at 1:34 PM, ballbreaker said:

As mentioned in post 9 the lady doesn't know some banks only use 8 characters.  The last three characters are the for the actual branch for you account.  The couple Thai banks I have used only use 8 same characters for all branches.  Perhaps Bank of Thailand requires 8 characters which is most likely the main branch.

 

If lady unwilling to process your request ask to speak with her supervisor and go up the chain if necessary.

 

The SWIFT code consists of either eight or 11 characters and is formatted as follows:

 

                            AAAA-BB-CC-DDD

• The first 4 characters are the bank code (only letters);
• The next 2 characters are the country code (only letters);
• Next 2 characters are the location code (letters and digits);
• The last 3 characters represent the branch code (letters and digits)

 

Thanks,

 

I agree.

 

I have used swift for years with zero issue as I stated in the into. This has caught me flat-footed. I also have money in Toronto Dominion, but they had changed their wiring protocol just before I left at the end of Dec. requiring a person to vouch for me. That was impossible to set up days before I sold my condo and was leaving. (I had gone at TD 2 years prior to set all this up and they assured me at the time that all is.) I tried to use my bank cards as a way to bring money in, but since I have been using them at all for years, there were issues, as I will explain.

 

I tried today to start using transferwise. It will take 3 days or so to see if the money is wired correctly. This will give me another method to wire.

 

I do not have any working bank cards. One of my oversea banking cards has expired and the other does not seem to work (I phoned to a rep yesterday and they assured me that it should be okay). Famous last word!

 

Anyway, it might be that Transferwise might be a better way to wire anyway. In some ways, I will have to thank the banksters for messing me up. It was a catalyst, I am not sure why the bank has suddenly chosen to make it hard for me to wire. As I have said, I have been a good member for 30 years with them! It could be that they saw the transferring of money (in small quantities) from my TD bank to them as suspicious. 

 

I plan to bring this matter up the chain of command, of course.

 

Thanks for all of the help and support.

Edited September 30, 2018 by JestSetter

[cleopatra2]

1 hour ago, JestSetter said:

 

Thanks,

 

I agree.

 

I have used swift for years with zero issue as I stated in the into. This has caught me flat-footed. I also have money in Toronto Dominion, but they had changed their wiring protocol just before I left at the end of Dec. requiring a person to vouch for me. That was impossible to set up days before I sold my condo and was leaving. (I had gone at TD 2 years prior to set all this up and they assured me at the time that all is.) I tried to use my bank cards as a way to bring money in, but since I have been using them at all for years, there were issues, as I will explain.

 

I tried today to start using transferwise. It will take 3 days or so to see if the money is wired correctly. This will give me another method to wire.

 

I do not have any working bank cards. One of my oversea banking cards has expired and the other does not seem to work (I phoned to a rep yesterday and they assured me that it should be okay). Famous last word!

 

Anyway, it might be that Transferwise might be a better way to wire anyway. In some ways, I will have to thank the banksters for messing me up. It was a catalyst, I am not sure why the bank has suddenly chosen to make it hard for me to wire. As I have said, I have been a good member for 30 years with them! It could be that they saw the transferring of money (in small quantities) from my TD bank to them as suspicious. 

 

I plan to bring this matter up the chain of command, of course.

 

Thanks for all of the help and support.

Here is the complete list of Swift codes for Kasikornbank

https://www.bank-codes.com/thailand/branches-of-kasikornbank-public-company-limited

 

[Pib]

Just adding XXX is fine and the K-bank response should have said that....just goes to the quality of some bank support replies.   XXX represents the head office for a bank.  Just adding XXX to those Canadian correspondent banks would have worked fine.  Just as adding XXX to the K-bank basic 8 digit SWIFT code works fine.  

 

And since you said you just initiated a Transferwise transfer to K-bank per Transferwise KASITHBKXXX is a valid SWIFT code.  

 

 

[Banana7]

Another alternative is to open a TD bank account. If your credit union (CU) has electronic transfer, then make a link to the TD bank account, transfer funds from CU to TD, then TD to K. If your CU has insufficient electronic capability, you could setup a Tangerine bank account as a hub, and it can pull money from virtually any financial institution in Canada, and push your money to any Canadian financial institution that has a routing code. Tangerine has no fees for transferring money between Canadian financial institutions with bank routing codes. See here for a list: http://www.canada-banks-info.com/.