When money is sent from abroad to a Thai bank account (a sum of just under THB 90,000), is the money credited directly to the account holder's account or does it first pass through the head office in Bangkok?

18 minutes ago, Mika78 said:

When money is sent from Thailand to a Thai bank account (a sum of just under THB 90,000), is the money credited directly to the account holder's account or does it first pass through the head office in Bangkok?

 

"from Thailand to a Thai bank"?  Seems to be direct to me. 

 

But what does that have to do with the title of this topic..."Money to Thailand via SWIFT"?

2 minutes ago, Upnotover said:

 

"from Thailand to a Thai bank"?  Seems to be direct to me. 

 

But what does that have to do with the title of this topic..."Money to Thailand via SWIFT"?

Mistake: from abroad. I will edit it. Sorry.

Just now, Mika78 said:

Mistake: from abroad. I will edit it. Sorry.

 

As far as I know money sent into Thailand visa SWIFT usually ends up going through a central receiving account before being directed to the specific account.  The SWIFTCODE used is usually along the lines of KASITHBKXXX where the XXX would/could identify the branch if known.

2 hours ago, Upnotover said:

 

As far as I know money sent into Thailand visa SWIFT usually ends up going through a central receiving account before being directed to the specific account.  The SWIFTCODE used is usually along the lines of KASITHBKXXX where the XXX would/could identify the branch if known.

That agrees with my experience from Swift transfers that I did from the UK to Thailand before I discovered Wise(Transferwise)

18 hours ago, Upnotover said:

 

As far as I know money sent into Thailand visa SWIFT usually ends up going through a central receiving account before being directed to the specific account.  The SWIFTCODE used is usually along the lines of KASITHBKXXX where the XXX would/could identify the branch if known.

 

15 hours ago, Mutt Daeng said:

That agrees with my experience from Swift transfers that I did from the UK to Thailand before I discovered Wise(Transferwise)

 

According to my recollection of SWIFT transfers from the UK I initiated several years ago, a transfer was initially made from my UK bank to their partner bank in Thailand (Kasikorn), who then passed it on to the beneficiary bank if not one and the same. Maybe each Thai bank maintains a central receiving account for this purpose since it appears to me highly unlikely that Kasikorn would act as the Thai partner bank for each and every UK bank!

 

On 12/8/2025 at 2:36 PM, Upnotover said:

 

As far as I know money sent into Thailand visa SWIFT usually ends up going through a central receiving account before being directed to the specific account.  The SWIFTCODE used is usually along the lines of KASITHBKXXX where the XXX would/could identify the branch if known.

That is certainly the case with SCB as above a certain figure I always get a call from their Forex office in central Bangkok about exchanging it and the rate. 

I also used to get a 20 baht extra charge (on top of the 200 min 500 max) which I was told a long time ago was because my account branch was not in Bangkok...........

Will all the surprise costs charged with all these money transfer fellows....it end's up in costing less in doing it plainly and directly from my bank abroad to ma bank in thailand...

20 hours ago, OJAS said:

 

 

According to my recollection of SWIFT transfers from the UK I initiated several years ago, a transfer was initially made from my UK bank to their partner bank in Thailand (Kasikorn), who then passed it on to the beneficiary bank if not one and the same. Maybe each Thai bank maintains a central receiving account for this purpose since it appears to me highly unlikely that Kasikorn would act as the Thai partner bank for each and every UK bank!

 

No one is saying that Kasikorn is the intermediary partner bank for all swift transfers. It was the final recipient of the transfer. In my case, HSBC was the source bank and also the intermediary partner and Kasikorn was the destination bank. I think @Upnotover was just using the Kasikorn as an example to show the structure of the swift code of the destination bank.

4 hours ago, Sigmund said:

Will all the surprise costs charged with all these money transfer fellows....it end's up in costing less in doing it plainly and directly from my bank abroad to ma bank in thailand...

Simply no.

Your "direct" option (which it never is) will be about the costliest.

And "directly" IS SWIFT.

Yesterday I transferred AUD80k. 

 

I did a morning transfer of Aussie dollars from my bank into my Wise account. Then THB from my Wise account into my Thai bank same morning.

Very quick and not expensive. 

 

Bank to bank transfer (SWIFT) I'd be waiting days, maybe a week or so. 

 

Another thing to note, bank to bank transfers (SWIFT), my aussie bank only allows me to transfer $50000 daily. Transfers from my aussie bank to Wise it's $100,000, daily limit. 

 

 

38 minutes ago, SAFETY FIRST said:

Bank to bank transfer (SWIFT) I'd be waiting days, maybe a week or so. 

Mileage obviously varies.

Depending on what time I send can be only one day but normally 2 - weekends obviously excluded.

46 minutes ago, SAFETY FIRST said:

I did a morning transfer of Aussie dollars from my bank into my Wise account. Then THB from my Wise account into my Thai bank same morning.

Very quick and not expensive. 

Good rate too.  K Bank TT today is 20.64593 so even before bank charges you're 30k ahead.

What most people don't realise, and don't need to know is that SWIFT is a messaging service not a money transfer. He is result of a Google search.

 

SWIFT itself is a 

messaging network and does not hold funds or manage accountson behalf of customers. The prefunding of transactions happens within the individual banks that use the network. 

 

How Prefunding Works in the SWIFT System

The prefunding process relies on a system called correspondent banking, which requires banks to maintain accounts with each other in different countries and currencies: 

• Nostro Accounts: A bank holds funds in a foreign currency account at another bank in that foreign country (e.g., a US bank holding Euros in an account at a German bank).
• Prefunding Requirement: To facilitate a SWIFT payment, the sending bank must have sufficient funds (liquidity) already available in the relevant nostro account (or access to a line of credit) at the intermediary or recipient bank to cover the transaction.
• No Central Fund: There is no single, centralized pool of money that is "prefunded for all SWIFT transactions." The amount of prefunded capital is the aggregate of all the funds banks globally have locked in these various correspondent accounts to ensure smooth daily operations. 

 

Estimated Capital

The exact total amount of money locked in these nostro accounts globally is difficult to quantify precisely and varies depending on daily transaction volumes and market conditions. However, estimates have suggested that the total value of capital tied up in these accounts for global cross-border payments can amount to trillions of dollars. 

 

SWIFT's Role

SWIFT's role is to provide the secure, standardized financial messages (like the MT103 message type) that instruct banks to debit and credit these prefunded accounts. The actual movement of money occurs between the banks' internal accounts, not through SWIFT's infrastructure itself. 

SWIFT has introduced initiatives like SWIFT gpi (Global Payments Innovation) which improve the speed and transparency of these existing payment systems, addressing some of the inefficiencies of traditional correspondent banking. 

On 12/8/2025 at 2:08 PM, Mika78 said:

When money is sent from abroad to a Thai bank account (a sum of just under THB 90,000), is the money credited directly to the account holder's account or does it first pass through the head office in Bangkok?

Do you mean Bangkok Banks head office or other ? I once had money transferred here from OZ and it got sent to the Bank Of Thailand first, and I got a lower Ex-rate, the stupid OZ bank gave me this advice to prevent it happening again, even though it was sent in AUD, message to bank "Do not Exchange Funds" 

Previously my SWIFT code to Bangkok Bank Chiang Mai was something like BKKCNX. BBL in an outstanding show of customer communication cancelled this without telling me so monthly transfer failed. The new SWIFT code goes to Bangkok Bank head office (HO) and THEN to CM. And of course I had to pay double charges to send it again via HO which I was NOT re-imbursed for. Way to go BBL for customer care NOT

On 12/8/2025 at 2:08 PM, Mika78 said:

When money is sent from abroad to a Thai bank account (a sum of just under THB 90,000), is the money credited directly to the account holder's account or does it first pass through the head office in Bangkok?

Thailand still uses 8 character for retail banking so all transactions would be directed to the head office for distribution.

Business banking uses 11 character codes which has become the international  standard so Thai banks will  provide an 11 character code for retail banking with XXX in place of a branch code.

From experience, I believe that if you put the branch code in place of the XXX it would go direct to the bank, but can't say that to be a fact.

On 12/10/2025 at 8:07 AM, SAFETY FIRST said:

Bank to bank transfer (SWIFT) I'd be waiting days, maybe a week or so. 

I use SWIFT all the time, and have done for 17 years.

Unless there is a holiday involved transfers have always been within 24 hours.

I have a Wise account with card and will choose to use bank transfer until I see a reason not to.

BTW I have heard all the arguments so do not waste your time, or mine.

3 hours ago, sandyf said:

I use SWIFT all the time, and have done for 17 years.

Unless there is a holiday involved transfers have always been within 24 hours.

I have a Wise account with card and will choose to use bank transfer until I see a reason not to.

BTW I have heard all the arguments so do not waste your time, or mine.

 

if i initiate a SWIFT transfer on Mon or Tues night BKK time, it's in my BKK account by the time i wake up in the morning - very quick.  once i did it on Thurs night and it didn't make it by Fri am (arrived Monday).  one of the banks involved wanted to hold that money over the weekend !  this is USA to BKK.  my SWIFT transfers are free (long time customer at Wells Fargo).

 

as to the broader topic, i've never noticed an intermediary.  my BKK account is at Bangkok Bank HQ on Silom Raod.

For Bangkok Bank...IME:

 

Monthly SWIFT transfer from U.S. to BBL, manual initiated by phone call ~ 18:30, money is cleared into my account the next (business) day ~ 09:30 - 13:30. An SMS arrives after 5 minutes to a few hours.

 

A Credit Advice Receipt shows the route the transfer took: my bank (Ordering Institution) to JP Chase Morgan (USD; Sending Bank) to Bangkok Bank (converts to THB at the T/T rate).

 

The folks at the Remittance Desk in my Bangkok Bank branch have told me that someone in BBL HQ has to manually clear "my" (all?) SWIFT transfers.

 

I cannot get the CAR until day +1 after the deposit is credited.

19 hours ago, buick said:

 

if i initiate a SWIFT transfer on Mon or Tues night BKK time, it's in my BKK account by the time i wake up in the morning - very quick.  once i did it on Thurs night and it didn't make it by Fri am (arrived Monday).  one of the banks involved wanted to hold that money over the weekend !  this is USA to BKK.  my SWIFT transfers are free (long time customer at Wells Fargo).

 

as to the broader topic, i've never noticed an intermediary.  my BKK account is at Bangkok Bank HQ on Silom Raod.

Indeed. I learnt a long time ago to avoid holidays and weekends. I used the Thai Military Bank,  now TTB, and there has never been any intermediary bank involved.

When I  first started doing regular transfers in 2008 HSBC charged £17 but then around 2012 they reduced that to £4, went up to £5 a couple of years ago. HSBC were still using Midland Bank SWIFT codes until fairly recently.