Intermediary Bank Fee From Thailand To Us

[smilia]

hi I am just trying to understand how I ended up $20 short.

I transfered my monies from SCB to my Credit Union in USA.

I was told there would be no charge for incoming Intl wire transfer, I asked like 3x. I paid my 550 baht to SCB and transfered the money. When it arrived it was $20 short.

My credit uinon told me

"A fee may be assessed, if the sending bank goes thru an intermediary bank, than they will charge a fee."

So who should have told me about this and what is this?

Criminal. Citibank NY got $20, and for what? I do not bank with them..

Can someone explain to me?

Thank you

[johnnyk]

Your Thai bank and your US bank may not be in bed together so often they will use what is called a "correspondent bank" which is basically a middleman who has connections to both other banks.

This is what has happened to me a couple of times between Europe-Canada.

Oh and btw, your $20 is gone so don't fret!

Edited June 1, 2008 by johnnyk

[smilia]

Thank for the reply .. yes gone forever and to CITIBANK..disgusting. Whose responsibilty was it to notify me that there was going to be an Intermediary bank fee?

Better I sticl to US travelers checks.. easy to mail home.

Maybe western union would have been cheaper, what are their rates?