SCB personal bank account - problems receiving incoming transfers

[drbeach]

As the title of this thread suggests, my employer based in France (we're starting a local operation in SE Asia spanning several countries) has been attempting to transfer funds to my SCB account from his company account, but the funds are not reaching me.

 

I've double checked to ensure the account details I gave him are correct. Indeed they are.

 

Last time, I made a mistake by not including the "Mr." particle in my account name, which resulted in the bank rejecting the transfer. After about 10 days, the transfer was made to my account in Australia and from there I made a western union transfer to my SCB account.

 

I noticed they spelled my name incorrectly when making the amended transfer instructions to my Australian account, but that proved to be no issue since Australian banks don't check the account names just the SWIFT code and BSB and account number.

 

However, in previous years we've encountered an issue with incorrect (or incorrectly spelled) account names and the transfer was rejected. In one case, trying to pay a hotel for our wedding, the transfer was rejected the first time due to this issue but the second time it went through.

 

In this instance, the first time round (back in May) SCB did NOT notify me of anything. My employer's bank in France was notified directly. Now for the second time, I've requested funds be transferred to my local account here. Aside from wanting to get paid into my local account as I am residing in Thailand at present, the second reason is as proof of foreign income from abroad for the purposes of a marriage extension.

 

It now appears as though we're running into this issue yet again. I have still not received the funds, which were purportedly sent on June 30. This time, I made sure to let my boss know to tell his bank to spell my name correctly including the "Mr." particle.

 

He sent me a copy of an email his bank sent him, which had my account number partially blacked out with "Xs" showing only a few digits, but two XXs between two sets of numbers that correspond to my account number, when there should be just one. The account number supposedly being mine had 16 digits, whereas my actual account number has just 10.

 

What I'm saying is it could be a case of incompetence with his bank, but has anyone ever encountered an issue receiving incoming funds from abroad, particularly if the entity making the transfer is a company?

 

I see no reason why there would be. Last September, he made a successful remittance into my SCB account but it was made from another bank (not the one he's currently using) and had his name indicated on the transfer instructions, so might have been his personal account. The company and associated account has only been formed since March.

 

Aside from checking to make sure his bank didn't screw up yet again, what else do you guys recommend? There are going to be a LOT of transfers being made and I can't afford to have problems every time, when I have had zero issues making transfers to SCB from Australia, using various transfer channels myself.

 

I could also switch to my Bangkok Bank account if that helps.

[BritManToo]

Open a Transferwise account, get him to pay into that.

Some western banks can't pay foreign accounts direct and use an intermediary bank, which always causes trouble.

Edited July 3, 2020 by BritManToo

[drbeach]

22 minutes ago, BritManToo said:

Open a Transferwise account, get him to pay into that.

Some western banks can't pay foreign accounts direct and use an intermediary bank, which always causes trouble.

Yes, that's possible. He is using a rather small French bank and the guy is a bit of an odd character himself.

 

He simply has no idea about how international transfers operate, it's such a simple concept in my opinion but the guy is one of these people for whom complicated things come easy, but simple things are difficult. Like for instance, at the Thai-Myanmar border, he still doesn't understand the simple procedure of crossing even after having made like 5 trips. I have to guide him through it like a little child!

[drbeach]

SCB website is notoriously difficult to navigate, but I just found this:

 

https://www.scb.co.th/en/personal-banking/other-services/swift/inward-remittance.html

 

It says I would need to provide some kind of "proof" of the reason for inward remittance? Why?

 

Transfers I make myself to this account are always credited automatically. The transfer made from my boss' personal account last year was also credited automatically.

Could this be the holdup?

 

Perhaps I should use Bangkok Bank in future, since they have more intermediaries and don't specify needing to show documents for incoming remittances. What a pain. Imagine if you're using SCB and a foreign pension fund is being deposited monthly. Would you have to go to the bank monthly to show some form, when it should be credited automatically?

 

And as usual, SCB has NOT sent me any notice that funds are on their way. It's crickets.

[OneeyedJohn]

$50,000 dollars or equivalent in Baht is what it is referring to.

 

It will also cost you 300 baht minimum and 500 baht maximum if you use Swift.

 

Transferwise is so simple and easy even for a French moron.

Edited July 3, 2020 by OneeyedJohn

[drbeach]

3 hours ago, OneeyedJohn said:

$50,000 dollars or equivalent in Baht is what it is referring to.

 

It will also cost you 300 baht minimum and 500 baht maximum if you use Swift.

 

Transferwise is so simple and easy even for a French moron.

Sorry, you mean above US$50000? I must have missed that. But yeah this transfer is definitely well below that amount.

[drbeach]

Actually, last time the funds didn't arrive on my SCB account may not necessarily have been due to the missing "Mr". I just assumed that, but when I checked a previous transfer made to my Bangkok Bank account from China without the Mr, it arrived just fine.

 

I think both times there was some kind of banking stuff-up. Maybe they misspelled my name the first time round (they did, when sending to Australia after the SCB rejection) and the second time it was probably because they didn't get my account details right.

 

Total amateurs, these guys (small rural bank).

[Jeffrey346]

I get an international direct deposit from the States to my SCB account every month with no issues.

 

I tend to agree that your issue is with the sending bank.

[rimmae2]

Agree with previous poster. I have made numerous transfers over the last 20 years to personal and company Accounts with SCB and never had a problem. Money is in account within an hour of sending from a Bank in another country. 

[Aforek]

38 minutes ago, Jeffrey346 said:

I get an international direct deposit from the States to my SCB account every month with no issues.

 

I tend to agree that your issue is with the sending bank.

May be ; I have a SCB account for 10 years, and a French bank ( BNP , the biggest in France ); before , I made my transfers from bank to bank   BNP - SCB , with my account Mister xxx ), and now with Transferwise; it works everytime ; SCB is good for international transferts, as good as the others

I don't know if the problem comes from the story of Mr ( I don't think so ), so , yes, maybe problem comes from the sending bank  ( I live up country, very small city, nothing to do with the situation of the branch of bank ) 

Edited July 4, 2020 by Aforek

[MobileContent]

Ask your employee to contact the senders bank and fax the MT-199 SWIFT message to the SCB Remittance Dept.

Edited July 4, 2020 by MobileContent

[topt]

21 hours ago, drbeach said:

e sent me a copy of an email his bank sent him, which had my account number partially blacked out with "Xs" showing only a few digits, but two XXs between two sets of numbers that correspond to my account number, when there should be just one. The account number supposedly being mine had 16 digits, whereas my actual account number has just 10.

 

What I'm saying is it could be a case of incompetence with his bank,

From what you are saying that sounds like the reason. I have had inward remittances from several countries to SCB and never a problem.

However they like to know the reason and may call you up to ask even for amounts smaller than 50k. The call will not be your branch but from the Forex dept in Bangkok. They don't care if it is for living expenses, visa, investment etc etc but just write something on the form. They are easy to talk to and there are no communication issues with English. 

[Max69xl]

20 hours ago, drbeach said:

SCB website is notoriously difficult to navigate, but I just found this:

 

https://www.scb.co.th/en/personal-banking/other-services/swift/inward-remittance.html

 

It says I would need to provide some kind of "proof" of the reason for inward remittance? Why?

 

Transfers I make myself to this account are always credited automatically. The transfer made from my boss' personal account last year was also credited automatically.

Could this be the holdup?

 

Perhaps I should use Bangkok Bank in future, since they have more intermediaries and don't specify needing to show documents for incoming remittances. What a pain. Imagine if you're using SCB and a foreign pension fund is being deposited monthly. Would you have to go to the bank monthly to show some form, when it should be credited automatically?

 

And as usual, SCB has NOT sent me any notice that funds are on their way. It's crickets.

First you're complaining about SCB when it's obvious that every mistake was made by you or the sending bank. Second, change bank to Bangkok Bank or Kasikorn Bank if the transfers are important for immigration issues. Those banks, especially Bangkok Bank works better when using TransferWise for monthly transfers. 

[rwill]

21 hours ago, drbeach said:

It says I would need to provide some kind of "proof" of the reason for inward remittance? Why?

just tell them it is for living expenses.  They mainly want it to satisfy money laundering reporting. 

[khunPer]

I use both Bangkok Bank and SCB and have foreign transfers to both, I never had a problem. My company also use SCB and have foreign transfers directly coming in. Normally cheap bank-to-bank SWIFT-transfers from Europe usually takes three bank-days.

 

For my private transfers I began to use Transferwise, it's both little cheaper in total – i.e. compared to various fees and exchange rate, even my Scandinavian bank has a very favorable Internet bank option that I use – and funds are available next bank-day. Even a few hundred baht extra in the pocket from each money transfer warms a bit, when the exchange rate to Thai bath is as bad as now...????

[Peter Denis]

2 hours ago, Max69xl said:

...

Second, change bank to Bangkok Bank or Kasikorn Bank if the transfers are important for immigration issues. Those banks, especially Bangkok Bank works better when using TransferWise for monthly transfers. 

When using TransferWise to send money from a foreign bank-account to your personal bank-account:

- Bangkok Bank > Your BKB bank-book will display the FTT-code (foreign transfer) for each transfer done when you tick "funds for long term stay in Thailand" from the drop down-list as the reason for the transfer.

- Kasikorn Bank > When you tick "funds for long term stay in Thailand" from the drop down-list as the reason for the transfer to a Kasikorn account it will only display the foreign transfer code, when your bank-account is with Kasikorn HQ.  When your personal account is at a local Kasikorn bank, the transfer will be rendered as a domestic transfer, and you would have to ask your local bank for a credit recipe from Kasikorn HQ to show that the transfer originated from abroad. 

- SCB or any other thai bank > When using TransferWise, you have the option to create a PDF transfer-receipt of the transfer which you did.  Such transfer-receipt is irrefutable evidence that your transfer originated from abroad (it contains the foreign bank-account as well as the local thai bank-account to which the funds have been transferred).  Most IOs accept these TransferWise transfer-receipts as evidence that the funds came from abroad.  In case your local IO does not accept them, you can ask your local bank which was the intermediate bank that received your funds from abroad and then transferred them as 'domestic' to your local bank.  By contacting that intermediate bank and requesting a credit-recipe (free or for a modest fee) they will provide a statement providing evidence that the funds came from abroad.

[Max69xl]

2 minutes ago, Peter Denis said:

When using TransferWise to send money from a foreign bank-account to your personal bank-account:

- Bangkok Bank > Your BKB bank-book will display the FTT-code (foreign transfer) for each transfer done when you tick "funds for long term stay in Thailand" from the drop down-list as the reason for the transfer.

- Kasikorn Bank > When you tick "funds for long term stay in Thailand" from the drop down-list as the reason for the transfer to a Kasikorn account it will only display the foreign transfer code, when your bank-account is with Kasikorn HQ.  When your personal account is at a local Kasikorn bank, the transfer will be rendered as a domestic transfer, and you would have to ask your local bank for a credit recipe from Kasikorn HQ to show that the transfer originated from abroad. 

- SCB or any other thai bank > When using TransferWise, you have the option to create a PDF transfer-receipt of the transfer which you did.  Such transfer-receipt is irrefutable evidence that your transfer originated from abroad (it contains the foreign bank-account as well as the local thai bank-account to which the funds have been transferred).  Most IOs accept these TransferWise transfer-receipts as evidence that the funds came from abroad.  In case your local IO does not accept them, you can ask your local bank which was the intermediate bank that received your funds from abroad and then transferred them as 'domestic' to your local bank.  By contacting that intermediate bank and requesting a credit-recipe (free or for a modest fee) they will provide a statement providing evidence that the funds came from abroad.

No need to explain to me how TransferWise works and how it shows up at several banks. I have used TW for years and can write books about it. I repeat, it's MUCH easier to use Bangkok Bank (or even K-Bank) when using TW and having to show international transfers to immigration. Period! All my transfers shows up as foreign = FTT like clockwork. No need for credit advises or other c**p documents if I go for the monthly income method. Banking with wrong bank in Thailand is just unnecessary and always includes a lot of hassle. 

[Peter Denis]

1 hour ago, Max69xl said:

No need to explain to me how TransferWise works and how it shows up at several banks. I have used TW for years and can write books about it. I repeat, it's MUCH easier to use Bangkok Bank (or even K-Bank) when using TW and having to show international transfers to immigration. Period! All my transfers shows up as foreign = FTT like clockwork. No need for credit advises or other c**p documents if I go for the monthly income method. Banking with wrong bank in Thailand is just unnecessary and always includes a lot of hassle. 

Hi Max 'Remi Alone on the World' 69xl

> My post just provided additional information on your 'one-liner' that Bangkok Bank and Kasikorn Bank are the easiest when making use of TransferWise.  Most probably useful for those reading the Forum and not having the deep-insight you undoubtedly have in these matters.

Or those having the 'wrong' bank,,, and wondering whether they can make use of TransferWise without encountering difficulties when having to prove to IO the foreign origins of the transfers they made (answer is YES).

 

[LivinLOS]

On 7/3/2020 at 8:12 AM, drbeach said:

Yes, that's possible. He is using a rather small French bank and the guy is a bit of an odd character himself.

I have to do silly amounts of banking in Europe / globally.. I find French and Belgian (french speaking) banks especially poor, lost transfers, strange paperwork needed, long delays where the funds are not in either account, etc etc.. 

Agree with the person above, open a transferwise borderless account, fund that, send from that to Thailand 'for the purposes of long stay' etc. 

I would also add, never had inbound transfer issues with Kasikorn. Just in case SCB is also a weak link. 

[drbeach]

2 hours ago, LivinLOS said:

I have to do silly amounts of banking in Europe / globally.. I find French and Belgian (french speaking) banks especially poor, lost transfers, strange paperwork needed, long delays where the funds are not in either account, etc etc.. 

Agree with the person above, open a transferwise borderless account, fund that, send from that to Thailand 'for the purposes of long stay' etc. 

I would also add, never had inbound transfer issues with Kasikorn. Just in case SCB is also a weak link. 

I've never had issues with Bangkok Bank (my other bank). Some time ago, I decided to switch to SCB as my main everyday bank mainly because they have higher limits for internet banking and ATM withdrawals, but since I maintain active accounts with both banks, it might be an idea to keep SCB for domestic transactions and Bangkok Bank for international ones. In fact, I use Bangkok Bank exclusively for outgoing international transfers, which are always received in my Australian bank accounts the following business day first thing in the morning.

 

I'll look into transferwise though I have been using Western Union successfully with SCB. In fact, WU transfers I make online from my Australian account end up in my SCB account the following business day between 1 and 130pm, even if I make the transfer at midnight Thai time; the transfer will arrive the same day. For Bangkok Bank, it's the same thing but they usually credit funds between 2 and 230pm.

[drbeach]

2 hours ago, LivinLOS said:

I have to do silly amounts of banking in Europe / globally.. I find French and Belgian (french speaking) banks especially poor, lost transfers, strange paperwork needed, long delays where the funds are not in either account, etc etc.. 

Agree with the person above, open a transferwise borderless account, fund that, send from that to Thailand 'for the purposes of long stay' etc. 

I would also add, never had inbound transfer issues with Kasikorn. Just in case SCB is also a weak link. 

And yes, to add to my previous response...you are absolutely correct.

 

French banks need all sorts of weird paperwork like "invoices" I "issue" to my employer to "justify" the transfer because apparently French banks view Thailand and Myanmar (and several other countries in the region) "high-risk" for money laundering. Absolutely ridiculous, considering I have never been asked for any paperwork to transfer funds to Thailand from Australia since the first time I started doing so in 2003.

 

And then it takes them ages to carry out the transfer and for some reason, it can't be done online? I've been doing online telegraphic (wire) transfers from my Australian bank since 2003 and now we're in 2020.

 

Seems like some kind of anti-Asian bias is prevalent in France.

[drbeach]

By contrast, Swiss banks - amazing and efficient. No questions asked, no delays, everything done online.

 

Unfortunately, I was forced to close my Swiss bank account down back in 2016 due to new rules regarding residency. Never mind I hold Swiss citizenship (I hold multiple passports) but apparently that wasn't enough for them.

[LivinLOS]

On 7/4/2020 at 12:33 PM, drbeach said:

By contrast, Swiss banks - amazing and efficient. No questions asked, no delays, everything done online.

 

Unfortunately, I was forced to close my Swiss bank account down back in 2016 due to new rules regarding residency. Never mind I hold Swiss citizenship (I hold multiple passports) but apparently that wasn't enough for them.

Cant you get a Swiss non resident account ?? 

I have one, but the top tier banks demand high deposit requirements so its a smaller niche bank. 

 

[drbeach]

On 7/6/2020 at 4:45 PM, LivinLOS said:

Cant you get a Swiss non resident account ?? 

I have one, but the top tier banks demand high deposit requirements so its a smaller niche bank. 

 

Not worth it. Expensive and would have been forced to put up a huge deposit for a secured credit card and a high monthly account keeping fee. What for. I have much higher limits on my Australian credit cards and no restrictions on what I can do, no minimum deposits or anything. Completely pointless to hold a Swiss bank account aside from having access to a strong and stable currency (CHF) and also a EUR account.

Edited July 7, 2020 by drbeach

[LivinLOS]

You seemed sad that they asked you to close the account as a non resident, just pointing out, you dont have to be a resident to hold one. 
 

[drbeach]

6 hours ago, LivinLOS said:

You seemed sad that they asked you to close the account as a non resident, just pointing out, you dont have to be a resident to hold one. 
 

No, the non-resident account has very restrictive operating conditions.

 

Very strange of a Swiss bank to treat one of their own citizens like <deleted>. This wouldn't happen in Thailand - a Thai citizen is always treated favorably, even if they live abroad.

[greggraham]

For transfers from outside Thailand to an SCB account, the fee is always 300-500thb, is that right? Plus their exchange rate.

[topt]

On 5/25/2021 at 10:36 AM, greggraham said:

For transfers from outside Thailand to an SCB account, the fee is always 300-500thb, is that right? Plus their exchange rate.

It certainly always used to be plus I was always charged an extra 20 baht as branch was outside Bangkok.

The last 2 years transfers however I have said to pay charges at my end and I have not been charged the 520 baht....... 

[greggraham]

On 5/26/2021 at 4:59 PM, topt said:

The last 2 years transfers however I have said to pay charges at my end and I have not been charged the 520 baht....... 

 

Thanks for the reply. Don't understand the second part..

[topt]

35 minutes ago, greggraham said:

 

Thanks for the reply. Don't understand the second part..

I used to always get charged 520 baht by SCB for my inward transfers shown as commission on the advice note they sent me/had printed off at a branch.

The last two years transfers I don't know if it was because I told my sending bank to take all charges from me (it was a fixed amount) that I did not get charged anything by SCB when it hit my account. The credit advice paper showed that I received the full amount x the exchange rate I agreed with SCB and there were no commission charges of any sort. So no reduction of 520 baht.

Is that clearer?