Swift Money Transfers

[andyg75]

I need some help as never having done it before I sent my g/f some money using the Nationwide swift transfer, the money has not arrived so I called the Natiowide swift dept. and was told they checked my request form and there was no reason why the money was sent ie." Festive gift" thats why she had not recieved it. Not being happy with this I called there general queries dept to get it clarified, they asked supervisors but still no 100% answer. I'm waiting for them to call me back. So if anyone has used this method before did you have to give a reason why the money was being sent.

Thanks Andy

PS they said transfers to Thailand need this info.

[samuibeachcomber]

usually there is a column where you have to put down the reason for the transfer.have you checked your account to see if the money is still there?

[andyg75]

usually there is a column where you have to put down the reason for the transfer.have you checked your account to see if the money is still there?

Yes money's gone, and looking at my copy of the swift transfer request form there's no where on there that mentions reasons for money being sent.

[samuibeachcomber]

usually there is a column where you have to put down the reason for the transfer.have you checked your account to see if the money is still there?

Yes money's gone, and looking at my copy of the swift transfer request form there's no where on there that mentions reasons for money being sent.

did you send via telegraphic transfer or internet banking?

[samuibeachcomber]

if you sent via telegraphic transfer it can take from 3-5 days

[andyg75]

usually there is a column where you have to put down the reason for the transfer.have you checked your account to see if the money is still there?

Yes money's gone, and looking at my copy of the swift transfer request form there's no where on there that mentions reasons for money being sent.

did you send via telegraphic transfer or internet banking?

No, I went into my local branch office and did it. Thats why i'm a bit peeed off because the girl in there filled the form in and there was no mention of reasons why I send the money.

[samuibeachcomber]

ok so whats the time frame from filling out form,paying the money and it still not having arrived?

[andyg75]

ok so whats the time frame from filling out form,paying the money and it still not having arrived?

Money was sent on Monday 22nd Dec I was told it would take 3 working days, so that gives them Tues 23rd. Wed 24th. Mon 29th. Tues 30th. Wed31st. Mon 5th Jan. A total of 6 days thats why I queried it today.

[samuibeachcomber]

ok so whats the time frame from filling out form,paying the money and it still not having arrived?

Money was sent on Monday 22nd Dec I was told it would take 3 working days, so that gives them Tues 23rd. Wed 24th. Mon 29th. Tues 30th. Wed31st. Mon 5th Jan. A total of 6 days thats why I queried it today.

ok,firstly make sure its definitely not in your g/f's a/c before going back to nationwide,see the bank girl that helpedfill out the form,ask to see the form and make sure all the details are correct i.e. your g/f's bank a/c no.and here banks swift code is correct.If everything is correct then i would start getting a bit demanding that they check to see what has happened.one thought is that the money was sent coming up to the xmas period and may be being delayed the thai end.you could ask your g/f to go to her bank and ask them to check also.If your bank are claiming it has n't been sent cos you did n't say the reason for sending the money,then the money should still be in your account in my opinion.

[andyg75]

ok so whats the time frame from filling out form,paying the money and it still not having arrived?

Money was sent on Monday 22nd Dec I was told it would take 3 working days, so that gives them Tues 23rd. Wed 24th. Mon 29th. Tues 30th. Wed31st. Mon 5th Jan. A total of 6 days thats why I queried it today.

ok,firstly make sure its definitely not in your g/f's a/c before going back to nationwide,see the bank girl that helpedfill out the form,ask to see the form and make sure all the details are correct i.e. your g/f's bank a/c no.and here banks swift code is correct.If everything is correct then i would start getting a bit demanding that they check to see what has happened.one thought is that the money was sent coming up to the xmas period and may be being delayed the thai end.you could ask your g/f to go to her bank and ask them to check also.If your bank are claiming it has n't been sent cos you did n't say the reason for sending the money,then the money should still be in your account in my opinion.

Thanks for your help, I will email her a copy of the swift request form which contains a tracking ref number. But the problem is her bank shuts at 4.30 and she finishes work at 5.30 and no way will she ask to leave early, she been checking the account through an ATM, she mentioned today that her bank is open on Sunday hinting she will have to wait till then. I'm hoping Nationwide will call me back with a definate answer

[samuibeachcomber]

its late here in thailand and am off to bed,i dont think i can add anything more.....................good luck andy,the money must be somewhere and looks to me as though nationwide may have stuffed up.

[pothai]

18 months ago we had a transfer by Swift from Nationwide to Bangkok Bank. Swift should arrive 2-3 days maximum. We called them and they said they were unsure what the funds were for, it was about 1.2 mil Baht. Simple explanation and they then sent it. We wernt in desperate need of the funds so didnt check if they had arrived, the money did not leave the Nationwide account until they were contacted, then 2 days later they were in the BKK acount

[soundman]

Moved to banking forum.

[think_too_mut]

usually there is a column where you have to put down the reason for the transfer.have you checked your account to see if the money is still there?

Yes money's gone, and looking at my copy of the swift transfer request form there's no where on there that mentions reasons for money being sent.

did you send via telegraphic transfer or internet banking?

That the same thing. Just Internet interface that puts the telegraphic transfer in the same queue as it would if one goes to the counter and requests it in person.

The money that can not be sent (I doubt that reason is the criteria) simply does not leave the account.

If the money is gone, then the receiving end has to process it and if there is something wrong (wrong account number, no reason for sending if it matters) the money is put into the "derogatory" pool and sent back to the sender on next exchange.

The exchanges are usually 1am on working days.

No way the money could vanish in a black hole.

[chiangmaibruce]

But the problem is her bank shuts at 4.30 and she finishes work at 5.30 and no way will she ask to leave early, she been checking the account through an ATM, she mentioned today that her bank is open on Sunday hinting she will have to wait till then. I'm hoping Nationwide will call me back with a definate answer

ask your gf to call her bank then - they will have a general help number.

as suggested, before growling at your bank double-check the account number with your gf - she may have given you the wrong number or the wrong number was entered on the transfer.

No disrespect intended, but also be open to the possibility - however remote - that your gf has received it and is trying to 'double-dip'. depending on how things pan out, you could try calling or emailing her bank with the account number to confirm/clarify

[think_too_mut]

Just remembered now...I had the money bounce once, due to misspelled name of the recepient (my then landlord lady).

The money was actually sitting in some "parking account", the SCB did not send it back automatically.

When I told the landlord lady (she called to ask where the money for rent was) that the money was sent 1 week ago, she called the bank and it was fine. The bank said it was all OK except incorrect spelling of her name and usually they keep the money for some time as people like her call and accept the money as theirs. The bank said it was in our interest as sending it back, correcting the name, resending...will only cost us more money and time.

The mistake was something like "Ponqwilai" instead of "Pongvilai".

So, let her call the bank, it should be alright.

Edited January 6, 2009 by think_too_mut

[pattayaGaz]

I used a swift transfer from the Nationwide a few years back to pay for a house and was told 3 to 5 days, in the end it took eleven and Bangkok Bank were still denying any knowledge of the money until 3.pm on the day that it finally appeared in my account, all this despite the Nationwide sending it on the day that I requested, I beleive this a Thailand Banking scam that nets them millions in interest every year, I know it's very worrying when the money seems to have dissapeared into thin air and no answers to where it's at.

[stament]

I used a swift transfer from the Nationwide a few years back to pay for a house and was told 3 to 5 days, in the end it took eleven and Bangkok Bank were still denying any knowledge of the money until 3.pm on the day that it finally appeared in my account, all this despite the Nationwide sending it on the day that I requested, I beleive this a Thailand Banking scam that nets them millions in interest every year, I know it's very worrying when the money seems to have dissapeared into thin air and no answers to where it's at.

I presume it's better to send STG to Thailand. What rate do they use when it gets credited at the other end?

Thanks

[flying]

We have found there are just 2 important things for swift

1) SWIFT CODE

2) 10 digit bank account of recipient

If you get the 1st wrong it does not leave

If you get the 2nd wrong it can be in limbo in BKK for awhile.

Happened to us once when a employee made a mistake & gave us her acct# wrong.

Took about 2 weeks for Bangkok Bank to fix it.

As for a reason for the money no you need not say but can if you like.

It is usually a notation

For us it normally takes 3 days roughly till it is in the account of who we sent it too.

Remember from US if it is after 11am it will leave the next day.

Also Thailand is ahead a day so if it is late in week that will also slow it up a bit.

Lastly you can in fact call which ever Thai bank it was sent to & ask if it was received.

Edited January 16, 2009 by flying

[hhgz]

"I sent my g/f some money..."

Are you ashamed of this, and trying to conceal it from Thai authorities? Heck, there's a cottage industry among Thai women that involves being supported by farang men. Any legitimate reason would have sufficed: medical expenses, gift, educational tuition.

[henryalleman]

I send always money by Swift transfer, 72 hours later its in my account at kasikorn bank

But you must fill in the Swift number from the receiving bank

Fill in the 10 didgit number

VERY IMPORTANT

DON'T FORGET TO FILL IN THE NAME OF THE BRANCH OF YOUR THAI BANK AND THE CORRECT ADDRESS OF THAT BRANCH OF YOUR THAI BANK, AND THE CORRECT ADDRESS OF THE RECEIVER IN THAILAND.

If you don't follow that procedure, the money will stay in some account in the headoffice till they find out in which branch you have your account. And this can take a lot of time sometimes more than a week or more. Its sound odd but this is how the Thai bank system seems to work.

[henryalleman]

usually there is a column where you have to put down the reason for the transfer.have you checked your account to see if the money is still there?

Yes money's gone, and looking at my copy of the swift transfer request form there's no where on there that mentions reasons for money being sent.

I always write "own money"

[Gary A]

I have been making wire transfers from Citibank US to Siam Commercial Bank for years. My money has always been in the Siam Commercial Bank the very next business day. If it is a fairly large amount of money, my Thai bank normally calls me and asks what the money is for. I tell them it is for living expenses. Smaller amounts, like $4,000 or less have not been questioned.

If transfers are going to be a regular thing, I'd suggest you open your own Thai bank account and give her the ATM card.

[Naam]

1. I have been making wire transfers from Citibank US to Siam Commercial Bank for years. My money has always been in the Siam Commercial Bank the very next business day.

2. my Thai bank normally calls me and asks what the money is for. I tell them it is for living expenses.

1. "next day" same here.

2. i always get a call and a quote for the exchange rate which enables me to convert immediately or keep the foreign exchange (if i don't transfer Baht which was for the last 8 months a better deal than transferring EUR or USD). as my transfers are marked "living expenses" nobodody aks me the question "what for?".

[Tomtom69]

I need some help as never having done it before I sent my g/f some money using the Nationwide swift transfer, the money has not arrived so I called the Natiowide swift dept. and was told they checked my request form and there was no reason why the money was sent ie." Festive gift" thats why she had not recieved it. Not being happy with this I called there general queries dept to get it clarified, they asked supervisors but still no 100% answer. I'm waiting for them to call me back. So if anyone has used this method before did you have to give a reason why the money was being sent.

Thanks Andy

PS they said transfers to Thailand need this info.

[Tomtom69]

I need some help as never having done it before I sent my g/f some money using the Nationwide swift transfer, the money has not arrived so I called the Natiowide swift dept. and was told they checked my request form and there was no reason why the money was sent ie." Festive gift" thats why she had not recieved it. Not being happy with this I called there general queries dept to get it clarified, they asked supervisors but still no 100% answer. I'm waiting for them to call me back. So if anyone has used this method before did you have to give a reason why the money was being sent.

Thanks Andy

PS they said transfers to Thailand need this info.

[pkrv]

If things go that badly wrong, you can demand something called a SWIFT TRACE - It will cost a small amount of cash I don't know 10/20/40 quid in GBP terms but this service must be offered and is available. I have not tried this though Nationwide but see no problems in asking for this service.

It will show where the funds were delivered to.

[Chaimai]

Simple facts are as follows:-

1. No reason is required for the transfer. Had this been a barrier the funds would not have left your account. Unless it was for a very large amount there is no reason for the Thai bank to query it.

2. Forget about "you" and "your g/f" - Sterling has left Nationwide and has been sent to a bank in Thailand.

3. It is highly unlikely that the funds have "stuck" in the UK.

4. It is highly likely that the funds are held up in the correspondent bank (or receiving bank) in Thailand.

5. It is possible that the funds have been received, your g/f has withdrawn the money - highly unlikely but you cannot check this.

6. As noted earlier , the money is not in a 'black hole' - a bank has your money.

Solution:-

Technically referred to as "beneficiary claims non-receipt"

This should be free of charge - tell the Nationwide that the SWIFT transfer that you instructed (and they accepted and transacted) has not been received by the beneficiary and can they place a trace on the money. They may try and levy a charge for "telex" costs in which case I would ask them if you have to pay if they have fcuked up ?

7. It is most likely that you omitted something from the instruction or mis-quoted an account number or IBAN. It is also possible that either the remitting bank (Nationwide), correspondent bank (probably Bangkok Bank) or your g/f's bank have fcuked up. Absolutely no offence but the favourite in these circumstances is the customer (notwithstanding he fact that N/Wide staff may/should have helped you to avoid such mistake).

8. You can also ask your g/f to trace from the Thai end - probably a complete waste of time.

Out of interest how much was involved ? Do you provide her with a N/Wide Flexaccount card ?

Good luck in resolving this - and I am sure that you will once you speak to the right person - I shall be interested to hear where the problem occured.