Transfer Funds From Oseas, Waiting Long Time

[clinique]

Ive been waiting for a funds transfer , about $50k, from overseas to my Bangkok bank account, for 7 days,

BBL says it hasnt arrived , my bank overseas says according to them BBL received it 3 days ago.

BBL just say "not here yet "

I seem to have no problem with small amounts under$10k, but the bigger ones seem to take longer!

ANyone else experience similar !

[chiang mai]

Ive been waiting for a funds transfer , about $50k, from overseas to my Bangkok bank account, for 7 days,

BBL says it hasnt arrived , my bank overseas says according to them BBL received it 3 days ago.

BBL just say "not here yet "

I seem to have no problem with small amounts under$10k, but the bigger ones seem to take longer!

ANyone else experience similar !

Every month, banks like to hold money as long as they can. I pay a bill monthly via direct debit within Thailand and this requires a transfer from HSBC to Bangkok Bank, obscurely HSBC has to issue a cashiers cheque and have it couriered to BB (next door) where the cheque is then deposited into the recipients account - sometimes seven days after funds leave my account, often ten days.

Another problem is that some overseas banks, particularly UK banks, seem to need approval from some source and in some cases before they can transfer funds to Thailand - I imagine it's all part of the anti money laundering scam, er, procedure.

[bangkokrick]

Ive been waiting for a funds transfer , about $50k, from overseas to my Bangkok bank account, for 7 days,

BBL says it hasnt arrived , my bank overseas says according to them BBL received it 3 days ago.

BBL just say "not here yet "

I seem to have no problem with small amounts under$10k, but the bigger ones seem to take longer!

ANyone else experience similar !

I transferred a large sum from the UK to UOB bank to buy a house. I had to do it in a max of 20K GBP because this is the daily allowance for my bank in the UK. I received the money on each transaction within 3 days. Maybe change your bank? This seems to be the norm in my case when I transfer money. I hope this helps.

Cheers, Rick

[clinique]

Ive been waiting for a funds transfer , about $50k, from overseas to my Bangkok bank account, for 7 days,

BBL says it hasnt arrived , my bank overseas says according to them BBL received it 3 days ago.

BBL just say "not here yet "

I seem to have no problem with small amounts under$10k, but the bigger ones seem to take longer!

ANyone else experience similar !

Every month, banks like to hold money as long as they can. I pay a bill monthly via direct debit within Thailand and this requires a transfer from HSBC to Bangkok Bank, obscurely HSBC has to issue a cashiers cheque and have it couriered to BB (next door) where the cheque is then deposited into the recipients account - sometimes seven days after funds leave my account, often ten days.

Another problem is that some overseas banks, particularly UK banks, seem to need approval from some source and in some cases before they can transfer funds to Thailand - I imagine it's all part of the anti money laundering scam, er, procedure.

hmmm, didnt think of the money laundering thing,, mind you a thai friend who works at a car dealer told me she had 2 farangs waitign for transfer to pay for cars and they were waiting longer than me,, she said the government was "double checking where it (the $) came from" ???

does that mean it could be stuck somewhere ?

Surely my o/seas bank would tell me if that were the case ? Yes / No !

[steppenwolf108]

Ive been waiting for a funds transfer , about $50k, from overseas to my Bangkok bank account, for 7 days,

BBL says it hasnt arrived , my bank overseas says according to them BBL received it 3 days ago.

BBL just say "not here yet "

I seem to have no problem with small amounts under$10k, but the bigger ones seem to take longer!

ANyone else experience similar !

Every month, banks like to hold money as long as they can. I pay a bill monthly via direct debit within Thailand and this requires a transfer from HSBC to Bangkok Bank, obscurely HSBC has to issue a cashiers cheque and have it couriered to BB (next door) where the cheque is then deposited into the recipients account - sometimes seven days after funds leave my account, often ten days.

Another problem is that some overseas banks, particularly UK banks, seem to need approval from some source and in some cases before they can transfer funds to Thailand - I imagine it's all part of the anti money laundering scam, er, procedure.

hmmm, didnt think of the money laundering thing,, mind you a thai friend who works at a car dealer told me she had 2 farangs waitign for transfer to pay for cars and they were waiting longer than me,, she said the government was "double checking where it (the $) came from" ???

does that mean it could be stuck somewhere ?

Surely my o/seas bank would tell me if that were the case ? Yes / No !

Never had such problems with BKK Bank, actually I regard it as the best and fastest one when it comes to handle foreign transfers.

You could give a call to the number 02-6857777, to contact directly the office handling the swift, they are very helpful!

[clinique]

Ive been waiting for a funds transfer , about $50k, from overseas to my Bangkok bank account, for 7 days,

BBL says it hasnt arrived , my bank overseas says according to them BBL received it 3 days ago.

BBL just say "not here yet "

I seem to have no problem with small amounts under$10k, but the bigger ones seem to take longer!

ANyone else experience similar !

Every month, banks like to hold money as long as they can. I pay a bill monthly via direct debit within Thailand and this requires a transfer from HSBC to Bangkok Bank, obscurely HSBC has to issue a cashiers cheque and have it couriered to BB (next door) where the cheque is then deposited into the recipients account - sometimes seven days after funds leave my account, often ten days.

Another problem is that some overseas banks, particularly UK banks, seem to need approval from some source and in some cases before they can transfer funds to Thailand - I imagine it's all part of the anti money laundering scam, er, procedure.

hmmm, didnt think of the money laundering thing,, mind you a thai friend who works at a car dealer told me she had 2 farangs waitign for transfer to pay for cars and they were waiting longer than me,, she said the government was "double checking where it (the $) came from" ???

does that mean it could be stuck somewhere ?

Surely my o/seas bank would tell me if that were the case ? Yes / No !

Never had such problems with BKK Bank, actually I regard it as the best and fastest one when it comes to handle foreign transfers.

You could give a call to the number 02-6857777, to contact directly the office handling the swift, they are very helpful!

speak to them every day, at least once from home and once from my local branch of BBL.

Cant say I ve had the same good experience with them. Each time I do use them it seems to be a c..k up !!

I will go back to using K Bank - sending $ , if sent in the early morning arrives in my account same day - hows that fro servcie.. AND no reason it shouldnt either,,

mind you theres all this new money laundering stufff...

thanks anyway.

[mpetersen]

I sent money for a bike $20k, for condo $400K, both times funds were posted to my accounts same day. two different banks (HSBC/SCB), so I don't know ... i think it's important to have a good relationship with your local bank, or use HSBC Premier service.

[chiang mai]

I sent money for a bike $20k, for condo $400K, both times funds were posted to my accounts same day. two different banks (HSBC/SCB), so I don't know ... i think it's important to have a good relationship with your local bank, or use HSBC Premier service.

No problems with Premier - I just transferred funds from the UK to Bangkok using Global Transfers, all done and dusted in ten minutes, lovely stuff.

[Mobi]

I've been transferring large sums from UK to Thailand for years and only once did it take more than 3 days to arrive. These days it's even quicker than before, and the funds are often in my Thai account within 24 hours - certainly 48.

The one hiccup I had was when the UK bank erred and converted the sterling into Thai Baht in the UK and then sent the Thai Baht to my account here. This can take up to 10 days as the process takes much longer.

Fortunately they had a tape of my telephoned instructions which clearly told them to send the funds in sterling, and they compensated me for the late arrival and for the loss on exchange. I suggest you check with the issuing bank, to see if this may be the case with your money.

These days, I arrange everything through the internet. I Just complete the details on line and the bank remits the funds without needing any further instructions.

You have to call both banks every day until you get satisfaction on what has happened to your money. Make the overseas bank read out in full the details of the transfer they made, including the currency and details of your Thai Bank account.

I have known of funds ending up in the right bank but the wrong Thai bank account.

Good luck

[clinique]

I've been transferring large sums from UK to Thailand for years and only once did it take more than 3 days to arrive. These days it's even quicker than before, and the funds are often in my Thai account within 24 hours - certainly 48.

The one hiccup I had was when the UK bank erred and converted the sterling into Thai Baht in the UK and then sent the Thai Baht to my account here. This can take up to 10 days as the process takes much longer.

Fortunately they had a tape of my telephoned instructions which clearly told them to send the funds in sterling, and they compensated me for the late arrival and for the loss on exchange. I suggest you check with the issuing bank, to see if this may be the case with your money.

These days, I arrange everything through the internet. I Just complete the details on line and the bank remits the funds without needing any further instructions.

You have to call both banks every day until you get satisfaction on what has happened to your money. Make the overseas bank read out in full the details of the transfer they made, including the currency and details of your Thai Bank account.

I have known of funds ending up in the right bank but the wrong Thai bank account.

Good luck

Heh thanks a lot, didnt think of that. And come to think of it several years ago the same thing happened and it WAS becasue the o/seas bank had sent Thai Baht not $..

I will check it out.

cheers

[Pib]

I've been with Bangkok Bank for about 4 years and funds transfers appearing in my account seem to "usually" take 1 to 5 "business days "after" my U.S. bank or transferring agency says they have completed the transfer. By bank transfer, I mean a one-time transfer; and by transferring agency, I mean a U.S. government agency automatic monthly allotment transfer. Weekends and Thai holidays "do not" count as a business day. And I'm fairly sure some of the Thai holidays affecting the delay are not just official govt officials holidays but also Buddhist/religious key dates (5 Oct is a key Buddhist date). But I have had a few cases where the transfers arrived the same day as when my U.S. bank/agency says the transfer was completed, but "usually" it takes 1 to 5 business after the sending bank/agency said the transfer was completed. And I expect it also depends on how the funds were sent...a SWIFT transfer seems to arrive the fastest but it usually costs the most.

Summary: "don't expect" your funds transfer occurring the same business day that the sending bank/agency says the transfer was completed; remember, this is Thailand...right or wrong, most money-transfer things take longer (and is harder and costs more) to get done than in western countries. "Plan on" the transfer taking longer than hoped/advertised.

Edited October 5, 2009 by Pib

[clinique]

thanks guys, still waiting.

just for interest, i was paid in the past US$ to a K Bank account , amazingly it arrived within 4 hours.

How can there be such a difference of : from 10 minutes - up to 5 days or longer

[cook]

thanks guys, still waiting.

just for interest, i was paid in the past US$ to a K Bank account , amazingly it arrived within 4 hours.

How can there be such a difference of : from 10 minutes - up to 5 days or longer

I did a Swift transfer last week from overseas to my Thai bank. Next day I got a call on my mobile from another Thai bank who said they had my money but I had to complete a form before they would release it to my bank, because it was over US$20,000.

Is there a chance your money has arrived but it's at an intermediate bank who can't contact you?

[clinique]

thanks guys, still waiting.

just for interest, i was paid in the past US$ to a K Bank account , amazingly it arrived within 4 hours.

How can there be such a difference of : from 10 minutes - up to 5 days or longer

I did a Swift transfer last week from overseas to my Thai bank. Next day I got a call on my mobile from another Thai bank who said they had my money but I had to complete a form before they would release it to my bank, because it was over US$20,000.

Is there a chance your money has arrived but it's at an intermediate bank who can't contact you?

hi, thanks for the tip off, only question now is how to find out which bank.. Surely they would call BBL toge tmy phone number. Sorryyyyyyyyyyyyyyy i know TIT. dont assume. I will follow up tomorrow. cheers

[ericthai]

I have money sent from my US bank to my Siam commercial account. 3 days max... never a problem. Siam commercial always calls me too to let me know the money has arrived.

[Maestro]

Ive been waiting for a funds transfer , about $50k, from overseas to my Bangkok bank account, for 7 days,

BBL says it hasnt arrived , my bank overseas says according to them BBL received it 3 days ago…

Ask your US bank to send (email, fax) you a copy of the acknowledgment of receipt which the BBL’s computer sent to their computer, then make a copy of it and bring it to BBL. This should help them trace the incoming remittance. If you get no satisfactory response within 24 hours, confirm your complaint in writing. I have seen this work every time in cases like yours.

--

Maestro

[monty]

When sending money from Belgium (KBC bank) to Bkk Bank Thailand, the funds do a bit of a world trip.

They first go to an American bank in New york (can't remember which one) which then transfers to Bkk Bank New York, which then transfers to Bkk Bank Thailand.

Friend of mine had exactly the same problem, for some reason (an error in the account nr. was later given) the money arrived at the American bank, but didn't get forwarded to Bkk Bank.

So KBC Belgium said the money left, and Bkk Bank said the money never arrived. Add to that the fact that New York is 12 hours behind Thailand, so office hours do not overlap! Made it very hard to find out what happened (all communication to New York was by fax!)

[thaihome]

Suspect for such a large amount, it is being held up as part of a anti-money laundering procedure. Post #16 has the best advice. You need to find out who is holding it up. In my one similar experience a few years ago, they were just holding it waiting to see who claimed it.

TH

[PattayaParent]

Occasionally the banks will bung any overeas transfers they receive into short term money market accounts to get the interest on them.

Seems like it's your turn to be messed about like that. You'll receive the money in 7 to 10 days.

[clinique]

thanks again guys..

its still not here today.

I was thinking of cancelling it and starting all over again - this time by making sur emy bank sends US$ to my Thai account at K Bank.

Just not sure what happens if i get them to cancel the original transfer - when do i get it back ?

any ideas /recommendations.

cheers.

[PattayaParent]

Your UK bank has already sent the money, so what's to cancel?

[Soutpeel]

thanks again guys..

its still not here today.

I was thinking of cancelling it and starting all over again - this time by making sur emy bank sends US$ to my Thai account at K Bank.

Just not sure what happens if i get them to cancel the original transfer - when do i get it back ?

any ideas /recommendations.

cheers.

If the instruction has been carried out...ie the money has left your account, you cant "cancel" it...you have to find it at the recipent bank... ...it will be in some holding account getting interest for the bank, start with the main branch in BKK, Assume you have all the records of transfer

[Pib]

thanks guys, still waiting.

just for interest, i was paid in the past US$ to a K Bank account , amazingly it arrived within 4 hours.

How can there be such a difference of : from 10 minutes - up to 5 days or longer

Me too...for my monthly automatic allotment from a U.S. govt agency. Now, the portion that goes to my U.S. bank arrived on 1 Oct; but the portion going to Bangkok Bank has still not posted to my Bangkok Bank account...I expect Bangkok Bank also received it on 1 or 2 Oct but are still holding/processing the funds to my account due to ????. Summary: Ops Normal...been happening each month....posting the transfer to my account shouldn't take this long but as mentioned earlier many money related things in Thailand just take longer...the transfer should appear in my account on or about 8 Oct (two more days)...Ops Normal for Thailand.

[Pib]

thanks guys, still waiting.

just for interest, i was paid in the past US$ to a K Bank account , amazingly it arrived within 4 hours.

How can there be such a difference of : from 10 minutes - up to 5 days or longer

Me too...for my monthly automatic allotment from a U.S. govt agency. Now, the portion that goes to my U.S. bank arrived on 1 Oct; but the portion going to Bangkok Bank has still not posted to my Bangkok Bank account...I expect Bangkok Bank also received it on 1 or 2 Oct but are still holding/processing the funds to my account due to ????. Summary: Ops Normal...been happening each month....posting the transfer to my account shouldn't take this long but as mentioned earlier many money related things in Thailand just take longer...the transfer should appear in my account on or about 8 Oct (two more days)...Ops Normal for Thailand.

Just to clarify, when I said 1 to 5 business days the transfers occur in 1 to 2 business days in the great majority of cases, and everyone once in while when holidays/weekends occur right after/during the transmission of funds, the completing/posting of the funds can be around 5 business days. This happened to me in Jul when 1 Jul/Wed was a Thai Bank holiday (work day for everybody else), 3 Jul was a Holiday in the U.S., and 7 Jul/Tue was Asataha Bucha Day in Thailand....and I don't think many people worked the day before 6 Jul/Mon due to the pending holiday. Instead of my monthly allotment posting on 1 or 2 Jul, it didn't post to 8 Jul. You would think computers would do all the work in the transfers, but no, we still have people setting in front of them processing/checking/validating the transfers...and when the people are on holiday the computers don't get much work done.

Now I have had great success with monthly transfers to my Direct Deposit account as the transfers post the same day of transmission. But a down side to the Direct Deposit account is you don't have internet/telephone banking access; you must go to a local bank branch to see if the transfer has posted. Turns out my Oct transfer did arrive/post on 1 Oct but I didn't get the SMS notification I've always got before; when I went to the bank this afternoon to update my passbook, it showed the funds posted 1 Oct.

Summary: funds arrive pretty fast the great, great majority of times; but every once in while an approx 5 business day delay occurs.