Bangkok Bank App Sending funds to UK

[TroubleandGrumpy]

17 hours ago, Jaggg88 said:

I don't have an FCD account but I send swift transfers 2 or 3 times a year to my First Direct (HSBC) in the UK

In Baht?  Or in GPB after being converted/exchanged and fees applied.

[lkn]

Here is what Bangkok Bank have told me:

• If you transfer more than one million abroad, you need to go to the branch with paperwork (source of funds) and those have to be approved centrally (so this may take a few hours to complete because of the central approval step).
• If you transfer less than one million it is “personal expenses” and you can do this yourself via iBanking (desktop), though not mBanking (phone app).

I have the mBanking app and I do not see an option to do international transfers.

 

I also have iBanking and here I do have an option to do a new international transfer, but it require that you first add the account you want to transfer money to, then wait 1-2 days for Bangkok Bank to approve it, and now you can do transfers to this account.

 

I did add my home country bank account and if I select “New Intl. Transfer”. My transfer limit is stated in foreign currency, but it amounts to just short of 1.5 million THB, so that might be the actual limit for what is considered “personal expenses”.

 

I have done one international transfer from Bangkok Bank, the fee was 1,250 baht and they gave me an exchange rate 0.75% below mid-market rate.

[bravo19]

On 4/14/2024 at 11:47 AM, lkn said:

I did add my home country bank account and if I select “New Intl. Transfer”.

Is the home country bank account in your name? I heard it is not possible to make an international transfer to an account in your name.

[lkn]

6 hours ago, bravo19 said:

Is the home country bank account in your name? I heard it is not possible to make an international transfer to an account in your name.

It is in my name, and the process (adding it via iBanking) did require manual approval, so it wouldn’t surprise me, if they only allow accounts in your own name by default.

 

I btw noticed while checking my iBanking that the 1.5M baht limit is explicitly mentioned. I can’t get to the “Add New Account” screen at the moment (to see if there are any requirements mentioned), as apparently this functionality is only available within office hours on bank days.

[Mike Lister]

1 minute ago, lkn said:

It is in my name, and the process (adding it via iBanking) did require manual approval, so it wouldn’t surprise me, if they only allow accounts in your own name by default.

 

I btw noticed while checking my iBanking that the 1.5M baht limit is explicitly mentioned. I can’t get to the “Add New Account” screen at the moment (to see if there are any requirements mentioned), as apparently this functionality is only available within office hours on bank days.

I think the question being asked is the same one that interests me and that is whether or not the Bangkok Bank Thailand app will let you send to an overseas account in your own name, I have heard from several sources that it will not. I understand the first part of our reply above but the part in bold confuses me.

[KannikaP]

On 4/7/2024 at 8:04 AM, digbeth said:

you can do swift transfer from the app,

but it's cheaper on wise, 

You cannot send THB to GBP on Wise.

[KannikaP]

13 minutes ago, Mike Lister said:

I think the question being asked is the same one that interests me and that is whether or not the Bangkok Bank Thailand app will let you send to an overseas account in your own name, I have heard from several sources that it will not. I understand the first part of our reply above but the part in bold confuses me.

I seem to think that you CAN send THB to say GBP IF it is first converted into GBP , at THEIR rate, and then THEIR fees are applied. Try Dee Money.

[Mike Lister]

3 minutes ago, KannikaP said:

I seem to think that you CAN send THB to say GBP IF it is first converted into GBP , at THEIR rate, and then THEIR fees are applied. Try Dee Money.

Yes, I understand you can't send THB and that it must first be converted to GBP, and unless you were holding a GBP Foreign Currency Account within the BBL app, that conversion would have to be a manual process....I guess? Those things being true, what does the app actually do when it comes to overseas transfers? Just initiate the manual process in the bank?

[KannikaP]

10 minutes ago, Mike Lister said:

Yes, I understand you can't send THB and that it must first be converted to GBP, and unless you were holding a GBP Foreign Currency Account within the BBL app, that conversion would have to be a manual process....I guess? Those things being true, what does the app actually do when it comes to overseas transfers? Just initiate the manual process in the bank?

Yes, I have sent GBP from my Bkk Bank Foreign Currency Account, but the fees were not small. But if it's got to be done, then so be it.

It had to be done with paperwork in the branch.

 

Edited April 21 by KannikaP

[Liverpool Lou]

On 4/14/2024 at 4:47 PM, lkn said:

I have the mBanking app and I do not see an option to do international transfers.

On the phone app, select "More services" then you can scroll down to "International transfers" where there's the options, Western Union, PromptPay International or SWIFT.

[lkn]

On 4/21/2024 at 2:18 PM, Mike Lister said:

I think the question being asked is the same one that interests me and that is whether or not the Bangkok Bank Thailand app will let you send to an overseas account in your own name, I have heard from several sources that it will not. I understand the first part of our reply above but the part in bold confuses me.

 

I was asked whether it was a requirement that funds only be sent to accounts abroad bearing the sender’s name, i.e. repatriating funds rather than paying a 3rd party abroad.

 

Though having now looked again at their interface and terms, I see no requirement that funds only be sent to yourself, and it might also be difficult for them to enforce.

 

Anyway, for your case, sending money to yourself, as long as it is less than 1.5M baht and in one of their 38 supported currencies, it should work fine.

[scoutman360]

On 4/14/2024 at 4:47 PM, lkn said:

Here is what Bangkok Bank have told me:

• If you transfer more than one million abroad, you need to go to the branch with paperwork (source of funds) and those have to be approved centrally (so this may take a few hours to complete because of the central approval step).
• If you transfer less than one million it is “personal expenses” and you can do this yourself via iBanking (desktop), though not mBanking (phone app).

I have the mBanking app and I do not see an option to do international transfers.

 

I also have iBanking and here I do have an option to do a new international transfer, but it require that you first add the account you want to transfer money to, then wait 1-2 days for Bangkok Bank to approve it, and now you can do transfers to this account.

 

I did add my home country bank account and if I select “New Intl. Transfer”. My transfer limit is stated in foreign currency, but it amounts to just short of 1.5 million THB, so that might be the actual limit for what is considered “personal expenses”.

 

I have done one international transfer from Bangkok Bank, the fee was 1,250 baht and they gave me an exchange rate 0.75% below mid-market rate.

 

After reading this. I can confirm. Following your instructions, I set up an international account in iBanking. That took 2 days for approval. Receiving account directly to Schwab CitiBank acct., (then forwarded to my name). Approved. I will test a small transfer first before sending the rest.

 

While doing this, I discovered a previous international bank account I set up over 13 years ago to a small U.S. credit union (which only has ACH number). This acct. only has my name on it. So, now I have 2 approved accounts. 

 

In the BB mobile app, it appears you can do international transfers. Bottom right corner of the app "more services". International transfers are located there. However, the "personal expense" app limit says 1 million bht, while iBanking says 40,000USD which is about 1.4 million bht. 

[Barry864]

On 4/11/2024 at 1:42 PM, Kalasin Jo said:

Has anything changed then? This time last year I sent funds back to UK account both from Bangkok Bank online ( not app) and using DeeMoney. I had to  register first for overseas transfers with both. BB registration proved easy as I have accounts with them. All done online. Approval within 24 hours. Dee Money Online require uploading of a few documents first time and took a few days to grant approval. I sent a total of 200k in several tranches over a few days using both as their charging structures and conversion rates were different and I wanted to see which was most cost effective and quickest. Both ask for the reason for the transfer out as you set up the transaction. DeeMoney guarantee next day if you set up the transaction before noon but several times that did not happen, the money arriving in about 36 hours, for which I got apology and a free transfer code for the next transfer.

Unfortunately Wise still do not have a presence in Thailand although I use them all the time to send money here.

So, which way you got the better results ?

[Barry864]

On 4/11/2024 at 1:42 PM, Kalasin Jo said:

Has anything changed then? This time last year I sent funds back to UK account both from Bangkok Bank online ( not app) and using DeeMoney. I had to  register first for overseas transfers with both. BB registration proved easy as I have accounts with them. All done online. Approval within 24 hours. Dee Money Online require uploading of a few documents first time and took a few days to grant approval. I sent a total of 200k in several tranches over a few days using both as their charging structures and conversion rates were different and I wanted to see which was most cost effective and quickest. Both ask for the reason for the transfer out as you set up the transaction. DeeMoney guarantee next day if you set up the transaction before noon but several times that did not happen, the money arriving in about 36 hours, for which I got apology and a free transfer code for the next transfer.

Unfortunately Wise still do not have a presence in Thailand although I use them all the time to send money here.

 

Edited June 12 by Barry864