Interactive Wire Transfer In Baht to Bangkok Bank - BBK Transfer fees?

[gamb00ler]

9 hours ago, Dan O said:

If you see an intermediary bank then the recipient bank is not part of the Swift network and the transaction is processed thru intermediary banks using the swift communication network for correspondence using a bank that is part of the swift network but is actually just an international wire transfer and that is why you see additonal charges. 

 

21 minutes ago, Dan O said:

Thats what I said, nothing more or less. 

Then you didn't make your point clearly.  In the first quote above you claim that any transfer using an intermediary bank was not true SWIFT.  That explanation is incorrect.

[Dan O]

1 hour ago, gamb00ler said:

 

Then you didn't make your point clearly.  In the first quote above you claim that any transfer using an intermediary bank was not true SWIFT.  That explanation is incorrect.

You using Word salad now. Think whatever you want to. 

[Dave0206]

I send 2000chf every month to bkk bank from my bank I pay 5chf costs always chose to send in my currency and I can see when I go on to bkk banks foreign currency it's the tt rate I get it works out slightly lower than wise but it's not bad

[gamb00ler]

On 9/19/2024 at 5:04 PM, topt said:

When I changed to sending with all charges paid for the advice note still shows the word Commission but the amount as zero. From memory when you SWIFT money you should have 3 options with your sending bank - Pay all, share all and receiver pays.

I assume you are wiring money to yourself.  If that is correct, the three choices are essentially identical because you are both sender and receiver.  The only difference would be which of your accounts ends up with the lower balance.

[Thailand J]

On 9/19/2024 at 2:12 PM, atpeace said:

Looks like using Interactive Brokers is not an options now. They now require you to use a corresponding bank which is Bangkok Bank New York.  I'm sure the $10 will be tacked on.  Oh well, back to using Wise.

huh?

Chase acting as corresponding bank has no fees, both at Interactive Brokers and at Schwab. Screen shot below was from just a few moments ago.

 

Edited Friday at 11:54 PM by Thailand J

[atpeace]

8 hours ago, Thailand J said:

huh?

Chase acting as corresponding bank has no fees, both at Interactive Brokers and at Schwab. Screen shot below was from just a few moments ago.

 

I have to try again. I wonder if  in frustration I assumed the corresponding bank was Bangkok Bank's New York office.  Thanks!  Are you getting a good exchange rate wiring from Interactive Brokers to BKK?

[Thailand J]

Try again by sending international wire with Bangkok bank swift code( not ABA number) and their Bangkok address. I get TT rate which is published online.

[Tim K]

I've sent money in USD from Russia, USA and Wise (UK) many times
I've asked staff at Bangkok, Kasi and KTB about incoming swift fees.
Only the KTB (Krungthai) charges 50b, flat.
Kasi and Bangkok do not. Bangkok gives TT rate based on the first round (8.30AM)
Kasi gives the current (within 20-30min) round's rate and it is usually better unless THB goes down then Bangkok will give better rate due to the lag.
I specifically kept records to understand who charges what.

I know exactly how many USD were sent, so I can calculate what the rate of exchange was.

Edited yesterday at 12:03 PM by Tim K

[topt]

3 hours ago, Tim K said:

I know exactly how many USD were sent, so I can calculate what the rate of exchange was.

Ask for a credit advice (either in branch or sent by email) and it will tell you.........

[RSD1]

On 9/19/2024 at 11:15 AM, atpeace said:

There is a Bangkok bank wire fee but can't figure out if that fee applies if baht are wired to Bangkok Bank.  My wire are free from Interactive brokers and with a good exchange rate.  Why not save 200-330 baht on my monthly ~ 65k baht transfers.  Am i missing something?

You can send money directly from Interactive Brokers to a Wise account. I think you’re permitted one free transfer a month from IABK. And then from Wise, you can convert it into Baht first at a very good exchange rate and then transfer it in Baht on to your Bangkok Bank account for a fee of around ฿40. Doing it like this is two hops, but you will pay next to nothing on transfer fees and you will get the best exchange rate possible. 

[atpeace]

2 minutes ago, RSD1 said:

You can send money directly from Interactive Brokers to a Wise account. I think you’re permitted one free transfer a month from IABK. And then from Wise, you can convert it into Baht first at a very good exchange rate and then transfer it in Baht on to your Bangkok Bank account for a fee of around ฿40. Doing it like this is two hops, but you will pay next to nothing on transfer fees and you will get the best exchange rate possible. 

That is what I do but looking at other options to avoid Wise fees.  Small fees but why not save a little money.  

[RSD1]

2 hours ago, atpeace said:

That is what I do but looking at other options to avoid Wise fees.  Small fees but why not save a little money.  

If you are looking to avoid the F/X fees, I think it’s impossible to get the interbank exchange rate from any F/X service provider AFAIK.
 

If you actively trade currencies as a trader on Oanda then I think you can avoid the F/X fees, but years ago Oanda stopped allowing customers to use their services in order to purely just exchange and transfer money without actively trading.