Inter Bank Transfers

[Crossy]

Just a mini-rant really.

OK. Today I / we attempted to transfer 1,000,000 Baht from my Bangkok Bank account to my wife's Siam Commercial account.

The reason for this transfer is unimportant.

So Bangkok bank say transfer no problem, 50 Baht fee. Fill in the form and present with passbook and my passport ID.

Ah, sorry cannot, maximum 100,000 Baht (per day). You can do over 10 days (10 x 50 Baht of course). Huh!!

No pobrem, can withdraw 1,000,000 Baht in cash (no charge) walk to Siam Commercial (keeping a sharp look out) and deposit same (no charge).

I find it odd that the safe option (inter bank transfer) is made pretty well useless by a stupidly low limit, whilst I can walk out of the bank with a million in cash.

Could explain that chap who had 25 million in his car (and had 12 million of it lifted).

[bkkjames]

Key word would be BK Bank in your post. Nothing in my experience is easy with them.

Looking at this, it seems they can do larger transfers? Domestic Money Transfer - Standard Chartered Bank (Thai)

[Arjay]

TIT this is Thailand. You could ask for a cashiers check, not free maybe 50 baht? Your wife would have to wait for check to clear, maybe a few days.

[Crossy]

Lots of alternatives, and if it was a significantly larger amount I'd use them.

I'm just miffed (but not surprised) that what would be a non-event transfer in the UK becomes a major issue here.

[dave2]

crossy

re .... No pobrem, can withdraw 1,000,000 Baht in cash (no charge) walk to Siam Commercial (keeping a sharp look out) and deposit same (no charge).

i had a similar offer from the tmb bank in chiang mai last december

i asked them to send 400 thousand to a krung thai bank a 100 yards away

can ... but will be 200 baht transfer fee .... ugggh what ?

take out the 400 thousand and take it there .... free !

no charge to put it into my krung thai account .... so thats what i did

dave2 : (

[Pib]

Gosh, I thought for second they maybe the bank teller just didn't like Crossy's face (grin), but when you go to the Bangkok Bank web site below they say the interbank daily transfer limit is 100K baht.

http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Transfering%20Funds/Transferring%20within%20Thailand/Pages/Interbank%20Transfer.aspx

The bank's web site does list some other methods to electronically transfer larger amounts between Thailand banks, but they appeared focused toward businesses.

I expect the limit is linked to some Bank of Thailand policy in controlling money flow. I guess they want large sums to be transported via personal vehicles, taxis, etc., to help keep robbers employed. TIT.

[aurelius]

There is an option to make a BAHTNET transfer between banks - BAHTNET is an interbank settlement system managed by the Bank of Thailand distinctly set up for high value transfers between banks and some govt departments. It seems that you have to be at your home branch to initiate such a transfer - don't know if that applied to the OP's transaction. Transfer fees are charged to both the sender and the beneficiary (all banks charge the same fee); Available to individuals and businesses.

info here

http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Transfering%20Funds/Transferring%20within%20Thailand/High%20Value%20Transfers/Pages/default.aspx