HSBC UK, Charges Massive Increase.

[andygrr]

 I recently had need to contact HSBC services a few times and each time found them very hard to understand and they defiantly had Indian accents. 

[Mukdahanman]

On 8/4/2019 at 3:39 PM, humdrumdays said:

I am looking at using Transferwise for the first time.  As an example I put in 1,000 GBP to Thai baht and it was charging me a fee of about 8 GBP. If I transfer it to my Bangkok Bank account in Thailand will Bangkok Bank make a further charge? thanks

No, the amount quoted by Transferwise is exactly what is added to your Bangkok Bank account with no further charges.

[lagavulin1]

On 8/3/2019 at 8:53 AM, SooKee said:

Guessing you'll find it's an intermediary bank charge. You'll also likely find HSBC can't or won't give you any information about what bank it was. I stopped using them around 2 years ago when they changed or lost their partnership arrangements here. As you say, their £4 transfer fees suddenly weren't anymore. That was when I was sending to Kasikorn.

On the 31st I tried a test transfer to Bangkok Bank of £50. Was quite pleased when the whole £50 turned up. Thought they'd maybe changed and had an arrangement now with Bangkok Bank such that they were no longer using an intermediary bank. Less pleased to read this. Makes me wonder if the whole £50 turning up was a fluke and that normally there'll be an Intermediary charge. It may be that your charge was a one off, especially as you've been using them up to now with no charges transferring to Bangkok Bank. I might try one more transaction later in the month, see if it gets hit. Don't plan to put HSBC back on the the list of options if they're regularly using an Intermediary bank still.
 

If you transfer to BKK from UK set up a transfer to BKK London. This counts as an internal UK transfer. BKK London then route it to Bangkok. Instructions are on the Bualuang website. 

[SooKee]

1 hour ago, lagavulin1 said:

If you transfer to BKK from UK set up a transfer to BKK London. This counts as an internal UK transfer. BKK London then route it to Bangkok. Instructions are on the Bualuang website. 

Yes but that is a separate process altogether.  If you have an account with BKK Bank in Thailand you can set up this service but you have to register for it first and it does involve sending certified copies of documents from Thailand to BKK Bank London and waiting for them to set it up and reply with your reference numbers for setting up the transfers.  As per a later post I made in tis thread, it's better than HSBC but there is a flat £20 charge for sending GBP to Thailand and the rate at which Bangkok Bank coverts GBP to THB is not very good at all.  It does show as international though BUT will show up as local if you use their other option which is sending THB from London to here.

In the example you quoted I was doing a direct transfer from HSBC Bank to Bangkok Bank here direct which requires no setting up or registration.  

[lagavulin1]

2 hours ago, SooKee said:

Yes but that is a separate process altogether.  If you have an account with BKK Bank in Thailand you can set up this service but you have to register for it first and it does involve sending certified copies of documents from Thailand to BKK Bank London and waiting for them to set it up and reply with your reference numbers for setting up the transfers.  As per a later post I made in tis thread, it's better than HSBC but there is a flat £20 charge for sending GBP to Thailand and the rate at which Bangkok Bank coverts GBP to THB is not very good at all.  It does show as international though BUT will show up as local if you use their other option which is sending THB from London to here.

In the example you quoted I was doing a direct transfer from HSBC Bank to Bangkok Bank here direct which requires no setting up or registration.  

Not sure we are talking about the same. I transfer Barclays £ to BKK London as an Inter UK transfer no charge. BKK route it to BKK Udon where it appears in THB as an International transfer. No fee. I grant you the forex may not be the best but life is too short. I set it up here. No docs. I'll have a look to see if it's changed later ????

Incidentally Barclays to BKK direct was pretty much as stated above £8 +£33 every month. Cheers P. 

[poohy]

On 8/4/2019 at 1:26 PM, Cats4ever said:

The old nickname was the Honkers & Shonkers

I was in another life a lending manager for them 

HSBC = Horribly suspicious bank charges

 

BUT... NB a EFT (electronic funds transfer ) transfer charge in late 80s was 35 Quid so in reality not much has changed

[lagavulin1]

21 minutes ago, lagavulin1 said:

Not sure we are talking about the same. I transfer Barclays £ to BKK London as an Inter UK transfer no charge. BKK route it to BKK Udon where it appears in THB as an International transfer. No fee. I grant you the forex may not be the best but life is too short. I set it up here. No docs. I'll have a look to see if it's changed later ????

Incidentally Barclays to BKK direct was pretty much as stated above £8 +£33 every month. Cheers P. 

You are correct docs are now needed ????????

[treetops]

15 hours ago, lagavulin1 said:

Not sure we are talking about the same. I transfer Barclays £ to BKK London as an Inter UK transfer no charge. BKK route it to BKK Udon where it appears in THB as an International transfer. No fee. I grant you the forex may not be the best but life is too short.

Bangkok Bank London's website states there are fees whether you send in GBP or THB.  Are you saying you don't pay these?

 

https://www.bangkokbank.com/en/Personal/Other-Services/Transfers/Transferring-Into-Thailand/Transfer-money-from-UK-to-Thailand-via-London-Branch

 

You may have to click on "Fees and conversion options" to open up the table of fees.

[sandyf]

On 11/27/2019 at 6:24 PM, Pdavies99 said:

Read your comments and I transfer sterling from HSBC UK to my Thai Bank, Krung Thai every 3 months. I have not had any charges for many years, ( and I receive a very good rate) so I contacted them today online, this is there response

 

"Hi Paul, there is no charge for making your overseas transaction through Online Banking, but there a charge is carried if you make the payment over the phone with us - Phil."

 

Checking there charges page, I think it depends also if you say transfer Sterling, or convert into Thai Baht at source, and if you say "same day transfer" which they can do effecting "Transferwise"  and as they say effect online, not by telephone.

 

My money usually arrives in between 2-4 days

 

Good Luck!!

I have been transferring money from HSBC for over 12 years without a problem.

In the early days it was generally at random and in those days the fee was £17.50 which was reduced to £4 some time ago.

When I got my pension in 2012 I had that paid direct by DWP up until the referendum, since then I have transferred virtually every month with only the nominal £4 charge.

I normally transfer on a Tuesday morning and it can be in my Thai account that evening or the next day, do it on a Thursday and it can be Tuesday before it hits the account.

[theoldgit]

18 hours ago, lagavulin1 said:

Not sure we are talking about the same. I transfer Barclays £ to BKK London as an Inter UK transfer no charge. BKK route it to BKK Udon where it appears in THB as an International transfer. No fee. I grant you the forex may not be the best but life is too short. I set it up here. No docs. I'll have a look to see if it's changed later ????

Incidentally Barclays to BKK direct was pretty much as stated above £8 +£33 every month. Cheers P. 

When I use their service I'm charged £20 by BKK Bank, it doesn't show as a charge, they just sent £20 less than they received from my bank.

Likewise when they receive the funds in Thailand they deduct .25%, up to 500 Baht, again it's not shown as a seperate charge, they just show the balance after receipt.
The fees are outlined via the link posted by treetops.

[lagavulin1]

2 hours ago, theoldgit said:

When I use their service I'm charged £20 by BKK Bank, it doesn't show as a charge, they just sent £20 less than they received from my bank.

Likewise when they receive the funds in Thailand they deduct .25%, up to 500 Baht, again it's not shown as a seperate charge, they just show the balance after receipt.
The fees are outlined via the link posted by treetops.

I set this up in 2013. Clearly my mind is deteriorating which is a little worrying. 

[SooKee]

On 11/28/2019 at 3:30 PM, lagavulin1 said:

You are correct docs are now needed ????????

AFAIK if you use the BKK London transfer option they will charge you for the service. £15 if you transfer the money in THB (which will show as a local transfer) and £20 if you send GBP.  On top of the the rate at which they exchange the £ to THB is one of the lowest I've seen with the Thai banks.

[SooKee]

Interestingly HSBC refunded the £20 charge they made against my account.  They said it was related to the transfer that took place 10 weeks before and that I had likely selected "Pay all the fees".  They agreed their document in My Documents, the charge advice, was too vague as it made no reference at all as to what the charge was for.  They said they don't think they did anything wrong but refunded the £20 as a good will gesture?  I'm not sure banks do 'Good will gestures' so they must have thought something was amiss.

[stewartthailand]

On 11/27/2019 at 8:36 PM, Jip99 said:

If you are sending Sterling to Bangkok Bank then Bangkok Bank will charge a processing fee.

 

. 

Bangkok Bank charges a receiving fee of 0.25% of the transfer amount (minimum 200 baht, maximum 500 baht).

FAQs about transferring into Thailand - ธนาคารกรุงเทพ

 

https://www.bangkokbank.com › Personal › Other-Services › Transfers › FA...

Now on my 10th transfer of sterling to Bangkok Bank and still no charges at either end 

[stewartthailand]

Set up the transfer yourself using the bank app and there is no £4 charge

[poohy]

No great fan of HSBC I was a manager for them

BUT!

In 1990 and EFT electronic funds transfer (overseas priory payment ) was 35GBP THEN