gordypatty Posted January 29 Share Posted January 29 Only for those using HSBC please. Std life are Tranferring my pension v HSBc who charge £3 who transfer to Siam bank who charge 150 b. Thats correct as all other transfers are the same. Big problem is my payments have another 900 b deducted Siam bank say its because HSBC are using Bangkok bank as an intermediate bank I cant speak to HSBC cos l dont have an account with them. Anyone else using HSBC to transfer to a bank over here Had loads of advice but need to hear from those using HSBc Link to comment Share on other sites More sharing options...
Mike Lister Posted January 29 Share Posted January 29 5 minutes ago, gordypatty said: Only for those using HSBC please. Std life are Tranferring my pension v HSBc who charge £3 who transfer to Siam bank who charge 150 b. Thats correct as all other transfers are the same. Big problem is my payments have another 900 b deducted Siam bank say its because HSBC are using Bangkok bank as an intermediate bank I cant speak to HSBC cos l dont have an account with them. Anyone else using HSBC to transfer to a bank over here Had loads of advice but need to hear from those using HSBc I use HSBC in the UK. When I make a SWIFT transfer from the UK to UOB Thailand, it comes via HSBC Bangkok which is a commercial branch rather than a retail branch but is nevertheless used for currency exchange and pass through. I don't think that HSBC has a SWIFT relationship with any bank in Thailand, I believe they either use NatWest UK for transfers to Thailand, or they use their commercial branch in Bangkok. These relationships change frequently however so what they might be today is unclear, I very much doubt however that HSBC uses Bangkok Bank as an intermediary bank. Link to comment Share on other sites More sharing options...
Popular Post Stocky Posted January 29 Popular Post Share Posted January 29 Yep, been there done that, have the scars. This is with HSBC Singapore, but same same. Just about every transfer I was being mugged an additional SGD20 by an intermediary bank. When I once queried this and asked for greater detail I was told that it would cost me a further SGD40 for them to investigate. One of the reasons I switched to Wise several years ago and no longer use HSBC for international transfers. 4 Link to comment Share on other sites More sharing options...
BritManToo Posted January 29 Share Posted January 29 (edited) 15 minutes ago, gordypatty said: Anyone else using HSBC to transfer to a bank over here Had loads of advice but need to hear from those using HSBc Open a WISE account, pay from HSBC to WISE by free bank transfer. WISE charge 7 pounds for 1200 pounds to transfer to a Thai bank at XE rate, no other fees. As a bonus HSBC (and DWP) have no record of where the money is going. Edited January 29 by BritManToo 2 1 Link to comment Share on other sites More sharing options...
Mike Lister Posted January 29 Share Posted January 29 I believe that HSBC Thailand does offer wealth management to wealthy expats hence it is more than just a commercial bank operation. https://www.hsbcnet.com/gbm/customer-support/contact-us-thailand Link to comment Share on other sites More sharing options...
Liverpool Lou Posted January 29 Share Posted January 29 10 minutes ago, BritManToo said: 24 minutes ago, gordypatty said: Anyone else using HSBC to transfer to a bank over here Had loads of advice but need to hear from those using HSBc Open a WISE account, pay from HSBC to WISE by free bank transfer. He is not transferring anything using HSBC, Standard Life, his pension provider is. Link to comment Share on other sites More sharing options...
Liverpool Lou Posted January 29 Share Posted January 29 11 minutes ago, Mike Lister said: I believe that HSBC Thailand does offer wealth management to wealthy expats hence it is more than just a commercial bank operation. https://www.hsbcnet.com/gbm/customer-support/contact-us-thailand I don't believe that HSBC Thailand offers any retail services to individuals, HNW or otherwise. 1 Link to comment Share on other sites More sharing options...
NoDisplayName Posted January 29 Share Posted January 29 Do you still have a UK bank where you can have your pension deposited? What are the total fees for STD->HSBC->BKK->SIAM compared to STD->*?*->WISE->SIAM Link to comment Share on other sites More sharing options...
BritManToo Posted January 29 Share Posted January 29 36 minutes ago, Liverpool Lou said: He is not transferring anything using HSBC, Standard Life, his pension provider is. So get them to pay the pension direct to WISE. Link to comment Share on other sites More sharing options...
Isan Farang Posted January 29 Share Posted January 29 38 minutes ago, BritManToo said: Open a WISE account, pay from HSBC to WISE by free bank transfer. WISE charge 7 pounds for 1200 pounds to transfer to a Thai bank at XE rate, no other fees. As a bonus HSBC (and DWP) have no record of where the money is going. Are you refering to HSBC Jersey transfer to Wise, i have a USD account with HSBC Jersey. I have not sent funds to Thailand for a while, but previously they charged me $50 for a swift, as they told me there was a intermediary bank involved. I used to have an account with HSBC Thailand, and they closed my account and moved everthing to Jersey Link to comment Share on other sites More sharing options...
Mike Lister Posted January 29 Share Posted January 29 4 hours ago, Liverpool Lou said: I don't believe that HSBC Thailand offers any retail services to individuals, HNW or otherwise. I agree with you, 99%, but I recall reading something about HNW accounts which surprised me. I'll see what I can find out. 1 Link to comment Share on other sites More sharing options...
Tonsan Posted January 29 Share Posted January 29 I transfer partial pension from HSBC UK on a monthly basis direct to SCB. Sent in £ direct via SWIFT. £5 UK transaction fee. SCB this end convert to THB at 1½% + THB200 receipt fee. Always virtually instant transaction (fastest was 17 minutes) until about 4/5 years ago when changed to overnight. Never had any problems. Link to comment Share on other sites More sharing options...
Muhendis Posted January 29 Share Posted January 29 I have an HSBC UK account. When I transfer funds to my Thai bank it used to take about 4 days due to an intermediary bank. My last transfer was completed within 24 hours which surprised me. I can only guess that they did the transfer direct. Link to comment Share on other sites More sharing options...
Mike Lister Posted January 30 Share Posted January 30 16 hours ago, Liverpool Lou said: I don't believe that HSBC Thailand offers any retail services to individuals, HNW or otherwise. There's a Bangkok Post article dated 25 October 2023 entitled "HSBC Thailand taps global connectivity", which talks about them growing their asset management business here to better serve their HNW clients. It sounds as though they may have asset management operation, specifically for HNY clients. Link to comment Share on other sites More sharing options...
Skipalongcassidy Posted January 30 Share Posted January 30 Why would anyone still be using bank to bank transfer... high fees and low conversion rates are the norm... money transfer companies and brokers are cheaper and easier. Link to comment Share on other sites More sharing options...
Mike Lister Posted January 30 Share Posted January 30 12 minutes ago, Skipalongcassidy said: Why would anyone still be using bank to bank transfer... high fees and low conversion rates are the norm... money transfer companies and brokers are cheaper and easier. SWIFT transfers are unlimited, unlike many money transfer companies. Plus the HSBC UK charge to remit Sterling to a Thai bank is only 5 Pounds and the negotiated conversion rate at a Thai bank is usually quite competitive. It may not always be the way to go for the person who wants to squeeze every last satang out of a currency exchange transaction but for many, it's a safe, no risk and pain free method that quick and easy. 1 Link to comment Share on other sites More sharing options...
newbee2022 Posted January 30 Share Posted January 30 17 hours ago, gordypatty said: Only for those using HSBC please. Std life are Tranferring my pension v HSBc who charge £3 who transfer to Siam bank who charge 150 b. Thats correct as all other transfers are the same. Big problem is my payments have another 900 b deducted Siam bank say its because HSBC are using Bangkok bank as an intermediate bank I cant speak to HSBC cos l dont have an account with them. Anyone else using HSBC to transfer to a bank over here Had loads of advice but need to hear from those using HSBc It's an effing bank. I got very bad experience.😵💫 Link to comment Share on other sites More sharing options...
Expat68 Posted January 30 Share Posted January 30 I transfer to wise from my HSBC account, no charges Link to comment Share on other sites More sharing options...
NE1 Posted January 30 Share Posted January 30 5 minutes ago, Expat68 said: I transfer to wise from my HSBC account, no charges No charges which end ? Link to comment Share on other sites More sharing options...
Popular Post sandyf Posted January 30 Popular Post Share Posted January 30 18 hours ago, gordypatty said: Anyone else using HSBC to transfer to a bank over here Had loads of advice but need to hear from those using HSBc I have been using HSBC to transfer for over 20 years. The fee used to be £25 when done in the branch or £17 online, aboyt a decade ago it was reduced to £4 for onlne and became about the cheapest option available, now up to £5. When Wise came on the scene for some months every time I did a transfer I made a comparison with Wise and there was nothing in it so stuck with HSBC. That was based on transferring GDP although HSBC would prefer you bought THB to transfer. I do use my Wise account quite a bit for other things. I have never seen any indication of an intermediary other than on my statements it used to say "via EXIM", Export Import Bank of Thailand, but that has now changed to international transfer. Last week I did a transfer about 5pm local time and funds in my account 11.18 following morning, good enough for me. Having no control of the HSBC account it may be worth looking into having the pension paid into a Wise account if you are in a position to open one. 2 1 Link to comment Share on other sites More sharing options...
sandyf Posted January 30 Share Posted January 30 56 minutes ago, Expat68 said: I transfer to wise from my HSBC account, no charges If both accounts in the UK then it would be a domestic transfer and UK banks do not normally charge for domestic transfers. Link to comment Share on other sites More sharing options...
sandyf Posted January 30 Share Posted January 30 1 hour ago, newbee2022 said: It's an effing bank. I got very bad experience.😵💫 Different people, different experience. I have had various issues over the years and they have been helpful with resolution, I was recently compensated over £100 when they made a mistake. Greatest help was when Agoda renaged on a refund for my quarantine hotel, although protracted HSBC did manage to get the money back. 1 Link to comment Share on other sites More sharing options...
hotandsticky Posted January 30 Share Posted January 30 1 hour ago, NE1 said: No charges which end ? Both ends. Just to add to the post from @sandyf WISE do not charge for UK domestic transfers either. So, GBP in from, say, HSBC - no charge; GBP from your WISE account to, say, HSBC - no charge. 1 Link to comment Share on other sites More sharing options...
Expat68 Posted January 30 Share Posted January 30 1 hour ago, NE1 said: No charges which end ? Wise charge when I transfer to my SCB account Link to comment Share on other sites More sharing options...
Liverpool Lou Posted January 30 Share Posted January 30 (edited) 3 hours ago, Mike Lister said: 19 hours ago, Liverpool Lou said: I don't believe that HSBC Thailand offers any retail services to individuals, HNW or otherwise. There's a Bangkok Post article dated 25 October 2023 entitled "HSBC Thailand taps global connectivity", which talks about them growing their asset management business here to better serve their HNW clients. It sounds as though they may have asset management operation, specifically for HNY clients. I think their wealth/asset management services in Thailand are provided only to their corporate HNW customers, not to private HNW individuals... "HSBC is committed to its goal to be the best bank and a key driving force for the Thai economy and Thai society. Today, HSBC provides a comprehensive range of financial and banking services to corporate customers". https://www.about.hsbc.co.th/hsbc-in-thailand I'm happy to be corrected if you know specifically otherwise. Edited January 30 by Liverpool Lou Link to comment Share on other sites More sharing options...
Liverpool Lou Posted January 30 Share Posted January 30 3 hours ago, Skipalongcassidy said: Why would anyone still be using bank to bank transfer... high fees and low conversion rates are the norm... money transfer companies and brokers are cheaper and easier. Are their services limited to below certain amounts? Nothing much easier than doing a SWIFT on, for example, BBL's phone app, I doubt that the other banks' are much different. 1 Link to comment Share on other sites More sharing options...
foreverlomsak Posted January 30 Share Posted January 30 19 hours ago, BritManToo said: 20 hours ago, Liverpool Lou said: He is not transferring anything using HSBC, Standard Life, his pension provider is. So get them to pay the pension direct to WISE. I contacted Standard Life about a year ago to have my pensions paid direct to my WISE account, answer was WISE are a finance house not a bank and Head Office say pensions must be paid into a bank account, therefore no can do. Would like to know if Standard Life has changed their attitude on this. Link to comment Share on other sites More sharing options...
hotandsticky Posted January 30 Share Posted January 30 1 minute ago, foreverlomsak said: I contacted Standard Life about a year ago to have my pensions paid direct to my WISE account, answer was WISE are a finance house not a bank and Head Office say pensions must be paid into a bank account, therefore no can do. Would like to know if Standard Life has changed their attitude on this. You have an allocated sort code and account number. If DWP and Mercer, for example, can pay direct to WISE then there is no reason for Standard Life not to........Attitude!......... Link to comment Share on other sites More sharing options...
lineofentry Posted January 30 Share Posted January 30 Been using HSBC for years. £5 fee any amount. Transfer in Sterling straight to SCB account. Same day if early or next working day. SCB FX rate applies, no other fees. 1 Link to comment Share on other sites More sharing options...
foreverlomsak Posted January 30 Share Posted January 30 3 minutes ago, hotandsticky said: You have an allocated sort code and account number. If DWP and Mercer, for example, can pay direct to WISE then there is no reason for Standard Life not to........Attitude!......... Thanks for the comment, I have heard before that DWP will deposit to WISE, other pension is from Mercer (ex SIPS) good to know that they will also. Am going to try Standard Life again, It's only a smallish annual annuity, but enough for a few boxes of beer. My UK bank does not give any interest and needs 2,500GBP to be maintained in the account to keep it charge free Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now