Uk Swift Transfer

[prodriver]

Khun Bob

Nationwide International charge £20 sterling regardless of the amount being transferred.

mca

Yes the SWIFT code for SCB is SICOTHBK. The branch is indicated in your account number.

[mca]

Thanks mate.

[pazza]

Khun Bob

Nationwide International charge £20 sterling regardless of the amount being transferred.

mca

Yes the SWIFT code for SCB is SICOTHBK. The branch is indicated in your account number.

Hi Khun Bob, it looks like a swift transfer from a Flex account is also £20, and can be done from overseas, it was natwest that charged £20 and £12 total £32.

Thanks for all the help guys

Take Care

Steve

[phutoie2]

On 18 July I posted from this town's Post office a SWIFT application to HQ Swindon, ( a mighty 32 Baht Stamp!) it arrived in their office on the Wednesday (22 July) but was too late for processing. I called the SWIFT office, the number is on the top of the application form to ask about if the application had arrived.

The amount is now in my Bangkok Bank account (Monday 27 July). No telephone security questions this time.

This is the quickest I have known their transfers, over the last few years I have been very critical of NW's international transfers.

Perhaps they know too much about me now!.

[Khun Bob]

Bob - everything can be done online with Halifax, quite user friendly. I pay to Kasikorn and it is usually there the next day. I think Halifax to most large Thai banks will be the same - only the smaller banks would, I think, require a correspondent bank.

Bob, what are the benefits of Nationwide International (apart from online SWIFT facility) ?

Thanks for the reply Chaimai

I have transferred money to Kasikorn in the past, but I chose Lloyds TSB to do it from in the UK as it is a correspondent bank of Kasikorn's. As I understand it, a particular bank establishes a relationship with some other banks in another country so that they can transfer money between them. Typically a particular bank will not establish a direct relationship with all banks in another country, just one or a few. They may also have no correspondent banks in another country and go through another to transfer money ie Nationwide in the UK uses HSBC to send money to Thai banks, as far as I am aware it does not 'correspond' directly with any Thai banks.

I prefer to use a correspondent bank in the UK of a Thai bank as, reading in the past on here, there are quite a few horror stories where the transfer is routed. ie extra charges, being lost, delayed and so on.

Now my above understanding may well be wrong, I'm no expert in this...

This is why I am interested to know of which, if any, Thai banks Halifax 'corresponds' with. I may give them a call and find out, as I think I have a current account with them somewhere... At £9.50 a transfer it is as good as HSBC's internal transfers. I think they use to be £9/£10 ish. Tis a couple of years since I have done that.

I have a Nationwide International Account as they offered a sterling savings account with deferred interest. So my thinking was, if I wanted to avoid UK income tax I could put money in there and when I'm non-resident, take the income, tax free.

HTH

[Khun Bob]

Khun Bob

Nationwide International charge £20 sterling regardless of the amount being transferred.

mca

Yes the SWIFT code for SCB is SICOTHBK. The branch is indicated in your account number.

Hi Khun Bob, it looks like a swift transfer from a Flex account is also £20, and can be done from overseas, it was natwest that charged £20 and £12 total £32.

Thanks for all the help guys

Take Care

Steve

Thanks for the reply.

I think as has already been mentioned in this thread or another recently, you download a form, fill it in and fax it to them. This is what I was informed 3/4 years ago, but things may well have changed now. Never tried it myself.

I have heard this it is also possible to make some arrangement with your local branch, which may not involve having to go through this faxing process, which IMHO is not secure and could cost a lot if done direct from Thailand. This may be an option but is down to who you know in the branch, what relationship you have with them and how long they are at the branch for... Again, not done here, but I recall that this was a possibility.

[Khun Bob]

Correspondent bank... Just out of curiosity had a look on Wikipedia :

http://en.wikipedia.org/wiki/Correspondent_account

Explanations not that good.

[Chaimai]

I have a Nationwide International Account as they offered a sterling savings account with deferred interest. So my thinking was, if I wanted to avoid UK income tax I could put money in there and when I'm non-resident, take the income, tax free.

HTH

Thanks Khun Bob.

Nationwide has to route through HSBC because it 'only' has building society status and is not a member of the British Bankers Association.

Searching individual bank websites may get you to their correspondent banks. Here is one from HSBC - obviously they will transact through their own global offices wherever possible:-

<H2 class=extInlineButtons>Correspondent banks: Asia Pacific and Oceania</H2>Australian Dollar

HSBC Bank Australia Limited, Sydney, Australia. A/C No. 011-795358-041, SWIFT: HKBAAU2S.

Hong Kong dollar

The Hongkong and Shanghai Banking Corporation Limited, Hong Kong Special Administrative Region. A/C No. 567-896964-001, SWIFT: HSBCHKHHHKH.

Japanese yen

The Hongkong and Shanghai Banking Corporation Limited, Tokyo, Japan. A/C No. 009/000266/027, SWIFT: HSBCJPJT.

New Zealand dollar

The Hongkong and Shanghai Banking Corporation Limited, Auckland, New Zealand. A/C No. 302940-0006225-61, SWIFT: HSBCNZ2A.

Singapore dollar

The Hongkong and Shanghai Banking Corporation Limited, Singapore. A/C No. 141-334250001, SWIFT: HSBCSGSG.

Thai baht

The Hongkong and Shanghai Banking Corporation Limited, Bangkok, Thailand. A/C No. 001025451001, SWIFT: HSBCTHBK.