manarak Posted October 1, 2010 Share Posted October 1, 2010 To make a test I made a transfer of 200 swiss francs to my kasikorn account. my bank charged me 5 CHF for the transfer, 24 CHF were charged as foreign fees. These are supposed to contain kasikorn's fees, and 24 CHF is already quite sizeable. But the best is still to come: My account has been credited with only 5810.75 baht, while the interbank bid rate was at 31.623 (and that was the low for these days around the 30th of Aug.) So the kasikorn rate was 29.05375, which was more than 8.12% under the interbank bid !! Does anyone know if this includes a fixed fee for the conversion? Link to comment Share on other sites More sharing options...
cardholder Posted October 1, 2010 Share Posted October 1, 2010 Absolute nonsense. Kasikorn charges are very fair and a decent exchange rate is always obtained. 5 Swiss Francs - just over GBP 3.00 is dirt cheap. I think you need to reflect on these costs. Kasikorn charges are limited to 0.25% (I think ) with a maximum ceiling. Link to comment Share on other sites More sharing options...
manarak Posted October 1, 2010 Author Share Posted October 1, 2010 (edited) Absolute nonsense. ... 5 Swiss Francs - just over GBP 3.00 is dirt cheap. pff... did you read my post until the end or do you understand English? I sent 200 CHF and I was charged a total of 229 CHF on my account and received only 5810.75 baht on my account. 5810.75 / 200 = 29.05 so what is nonsense with that, or do you want to see screenshots of the transaction? I gave the SWIFT instruction "all charges to the sender", so I should have received on my Kasikorn account 200 CHF net converted to THB. Edited October 1, 2010 by manarak Link to comment Share on other sites More sharing options...
saintofsilence Posted October 1, 2010 Share Posted October 1, 2010 I use kasikorn and there rates and charges are a very good , Are you sure you didn,t send yours in Thb ? Link to comment Share on other sites More sharing options...
opalhort Posted October 2, 2010 Share Posted October 2, 2010 (edited) K-Bank's rates are very reasonable. They deduct a maximum of 500Baht from any inward foreign currency remittance. Their exchange rate is the current TT rate as published by the BoT. Have a look at your SWIFT / TT notification which you can get from the K-Bank and verify the amount of CHF the K-Bank has actually received. Probably they received less than 200CHF. This happens if the Swiss remitting bank does not have an account with K-Bank. In this case the transfer goes via a different bank first which will deduct their own charges from the foreign currency if the bank is located outside Thailand. If the transfer arrives at a Thai bank other than your's (quite often SCB) they will exchange the currency and deduct their own fees in Baht and then forward the remaining Baht amount to your bank via the Baht-Net. opalhort Edited October 2, 2010 by opalhort Link to comment Share on other sites More sharing options...
NHJ Posted October 2, 2010 Share Posted October 2, 2010 pff... did you read my post until the end or do you understand English? I sent 200 CHF and I was charged a total of 229 CHF on my account and received only 5810.75 baht on my account. 5810.75 / 200 = 29.05 so what is nonsense with that, or do you want to see screenshots of the transaction? I gave the SWIFT instruction "all charges to the sender", so I should have received on my Kasikorn account 200 CHF net converted to THB. that's how you just learned to never instruct your bank to charge everything on the sender, the main reason is your bank is making a huge profit on this transaction/service. the kasikorn fee to receive money from abroad is maximum 500 baht, there's 20 baht for line leasing and 0.25% of the amount. kasikorn is one of the cheapest bank to receive money from abroad, siam city is charging double btw. Link to comment Share on other sites More sharing options...
Wallaby Posted October 2, 2010 Share Posted October 2, 2010 (edited) I sent money to kasikorn and found them to be very expensive, I did the changover in my bank to ensure 5000 baht was to land in the kasikorn account, less their commission. Under 4000 landed in that account. Not sure what happened to the 500 baht max for tansfer but they didn't miss me. But they only got me once as I've never sent it through them again. Edited October 2, 2010 by Wallaby Link to comment Share on other sites More sharing options...
Naam Posted October 2, 2010 Share Posted October 2, 2010 Absolute nonsense. ... 5 Swiss Francs - just over GBP 3.00 is dirt cheap. pff... did you read my post until the end or do you understand English? I sent 200 CHF and I was charged a total of 229 CHF on my account and received only 5810.75 baht on my account. 5810.75 / 200 = 29.05 so what is nonsense with that, or do you want to see screenshots of the transaction? I gave the SWIFT instruction "all charges to the sender", so I should have received on my Kasikorn account 200 CHF net converted to THB. pure refined nonsense is to transfer a peanuts amount and then complain about the relatively high charges. no offence meant! :jap: Link to comment Share on other sites More sharing options...
opalhort Posted October 2, 2010 Share Posted October 2, 2010 I sent money to kasikorn and found them to be very expensive, I did the changover in my bank to ensure 5000 baht was to land in the kasikorn account, less their commission. Under 4000 landed in that account. Not sure what happened to the 500 baht max for tansfer but they didn't miss me. But they only got me once as I've never sent it through them again. We receive occasionally transfers from a customer in Malaysia in Baht since the MS$ can not be traded. We always receive the exact amount in Baht the customer has sent us to our K-Bank account. No deductions whatsoever by K-Bank. opalhort Link to comment Share on other sites More sharing options...
tutsiwarrior Posted October 2, 2010 Share Posted October 2, 2010 current kasikorn bank exchange rates can be obtained thru this link: http://bankexchangerates.daytodaydata.net/default.aspx make sure you select 'TT' as the 'currency type' for an overseas transfer... Link to comment Share on other sites More sharing options...
Gonsalviz Posted October 2, 2010 Share Posted October 2, 2010 Same with me. I never have thought K bank overcharged. I do not know the actual rates but it is very little as far as I can tell. Link to comment Share on other sites More sharing options...
Kwasaki Posted October 3, 2010 Share Posted October 3, 2010 Strange this, I find Kas'bank great no problems. l find l have more problems with Bangkok bank maybe it is just down to the branches in different provinces. Link to comment Share on other sites More sharing options...
asiawatcher Posted October 3, 2010 Share Posted October 3, 2010 K Bank is fine for international transactions - the problem appears to be the amount as it it 0.25% or 500 Baht maximum - 500 Baht on 5,000 is 10% correct - but had you sent 50,000 Baht it would have still been 500 Baht thus your argument holds no ground and you have no common sense to understand banking! Plumbers charge a call out fee and banks charge a transaction fee! If you get charged $30 call out for a plumber and all you needed was a tap washer for 30 cents you get the real story here. Sorry - go back and do your sums and next time don't try and test a system that works for people who have the common sense not to transfer petty cash! What - you were supporting a bar girl? Link to comment Share on other sites More sharing options...
glassdude007 Posted October 3, 2010 Share Posted October 3, 2010 asiawatcher.... Why do you have to be such a smart ass....????++ ?? The OP just made a post to state that he thought the transaction rates/ fees were high and you attack him personally he was not arguing with anybody????? "but had you sent 50,000 Baht it would have still been 500 Baht thus your argument holds no ground and you have no common sense to understand banking!" It's his money he can do what he wants with in no need for this remark...?? "What - you were supporting a bar girl? Posted ImagePosted Image# Maybe im reading this out of context and your trying to be funny if so sorry mate... but if not .... Smart ass replies like this keep people from posting as they don't want to be ridiculed like this when they post a topic ...... have a nice day.... Link to comment Share on other sites More sharing options...
pkspeaker Posted October 5, 2010 Share Posted October 5, 2010 also taking into consideration that Kbank and BKKbank are the only banks that allow foreigners that don't have a work permit to open accounts, some of the other banks might but then they insist that you are not entitled to any interest on your saving account, then their fees probably aint so bad. Link to comment Share on other sites More sharing options...
Naam Posted October 5, 2010 Share Posted October 5, 2010 also taking into consideration that Kbank and BKKbank are the only banks that allow foreigners that don't have a work permit to open accounts, some of the other banks might but then they insist that you are not entitled to any interest on your saving account, then their fees probably aint so bad. that is an incorrect information. Siam Commercial even opens accounts for tourists and pays interest (albeit like all other thai banks a lukewarm fart percentage). Link to comment Share on other sites More sharing options...
pkspeaker Posted October 5, 2010 Share Posted October 5, 2010 good to know.. also taking into consideration that Kbank and BKKbank are the only banks that allow foreigners that don't have a work permit to open accounts, some of the other banks might but then they insist that you are not entitled to any interest on your saving account, then their fees probably aint so bad. that is an incorrect information. Siam Commercial even opens accounts for tourists and pays interest (albeit like all other thai banks a lukewarm fart percentage). Link to comment Share on other sites More sharing options...
morganl Posted October 7, 2010 Share Posted October 7, 2010 Can anyone tell me how long it takes to wire money from USA to Kasikorn Bank? Thanks a lot! Link to comment Share on other sites More sharing options...
longball53098 Posted October 8, 2010 Share Posted October 8, 2010 I can't say about Kasikorn but from my Chase Bank to SCB it normally takes less than 18 hours for me. Link to comment Share on other sites More sharing options...
tijnebijn Posted October 8, 2010 Share Posted October 8, 2010 also taking into consideration that Kbank and BKKbank are the only banks that allow foreigners that don't have a work permit to open accounts, some of the other banks might but then they insist that you are not entitled to any interest on your saving account, then their fees probably aint so bad. That is incorrect information , I've got accounts with SCB and UOB , without a workpermit , and both accounts pay interest as well . Krungthai Bank does not pay interest what I know of , which other banks do not pay ? Most do pay interest . Link to comment Share on other sites More sharing options...
bdenner Posted October 8, 2010 Share Posted October 8, 2010 I had funds transferred to Kasikornbank Tuesday from Aust. Received a phone call from their BKK office Wednesday saying that it had been processed I checked and had received the TELEX rate as per their web site minus a small fee to redirect the funds to my Udon Thani Branch account. The Telex rate was only a few points below the official xrate at the time. Absolutely NO problem now or over the past 9 years or so. Link to comment Share on other sites More sharing options...
cardholder Posted October 8, 2010 Share Posted October 8, 2010 Absolute nonsense. ... 5 Swiss Francs - just over GBP 3.00 is dirt cheap. pff... did you read my post until the end or do you understand English? I sent 200 CHF and I was charged a total of 229 CHF on my account and received only 5810.75 baht on my account. 5810.75 / 200 = 29.05 so what is nonsense with that, or do you want to see screenshots of the transaction? I gave the SWIFT instruction "all charges to the sender", so I should have received on my Kasikorn account 200 CHF net converted to THB. I read your post to the end and tried to make allowances for the fact that English is clearly not your first language. Not sure what language your bank instructions were in, but only an idiot would select 'charges for account of remitter' when they are the beneficiary in a lesser developed country. I reiterate that CHF 5 is dirt cheap for a remitting bank's charge. Your failing was to incur CHF 24 for 'foreign charges' Link to comment Share on other sites More sharing options...
asiawatcher Posted October 10, 2010 Share Posted October 10, 2010 asiawatcher.... Why do you have to be such a smart ass....????++ ?? The OP just made a post to state that he thought the transaction rates/ fees were high and you attack him personally he was not arguing with anybody????? "but had you sent 50,000 Baht it would have still been 500 Baht thus your argument holds no ground and you have no common sense to understand banking!" It's his money he can do what he wants with in no need for this remark...?? "What - you were supporting a bar girl? Posted ImagePosted Image# Maybe im reading this out of context and your trying to be funny if so sorry mate... but if not .... Smart ass replies like this keep people from posting as they don't want to be ridiculed like this when they post a topic ...... have a nice day.... I always have a nice day Link to comment Share on other sites More sharing options...
EvilDrSomkid Posted October 12, 2010 Share Posted October 12, 2010 I am also quite happy with K-Bank. What might have happened is that the exchange rate blipped when the money came in. I have been disappointed with this, too. As an indication, when I send money from my ABN (NL) bank account to a K-Bank account, the total fee (all charges for sender) is 23 euros, no matter how much I send. Yep, that's a lot. It usually does arrive the next day though. Link to comment Share on other sites More sharing options...
ykatz0 Posted December 25, 2010 Share Posted December 25, 2010 It was this smart ass reply that made this whole post worth reading, actually gave me energy to continue reading the post! asiawatcher.... Why do you have to be such a smart ass....????++ ?? The OP just made a post to state that he thought the transaction rates/ fees were high and you attack him personally he was not arguing with anybody????? "but had you sent 50,000 Baht it would have still been 500 Baht thus your argument holds no ground and you have no common sense to understand banking!" It's his money he can do what he wants with in no need for this remark...?? "What - you were supporting a bar girl? Posted ImagePosted Image# Maybe im reading this out of context and your trying to be funny if so sorry mate... but if not .... Smart ass replies like this keep people from posting as they don't want to be ridiculed like this when they post a topic ...... have a nice day.... Link to comment Share on other sites More sharing options...
old wanderer Posted December 29, 2010 Share Posted December 29, 2010 current kasikorn bank exchange rates can be obtained thru this link: http://bankexchangerates.daytodaydata.net/default.aspx make sure you select 'TT' as the 'currency type' for an overseas transfer... Thank you so much for this link. I was unaware of CIMB Thai bank, however the difference of moving some investment money to Thailand and the difference in exchange rates between this bank and Kasikorn amount to 2,000,000b extra in my account. :) Link to comment Share on other sites More sharing options...
Pib Posted December 29, 2010 Share Posted December 29, 2010 current kasikorn bank exchange rates can be obtained thru this link: http://bankexchanger...et/default.aspx make sure you select 'TT' as the 'currency type' for an overseas transfer... Thank you so much for this link. I was unaware of CIMB Thai bank, however the difference of moving some investment money to Thailand and the difference in exchange rates between this bank and Kasikorn amount to 2,000,000b extra in my account. :) Wow!!!....You must be moving some really BIG chunks of change....Can I come live with you? Link to comment Share on other sites More sharing options...
cardholder Posted December 29, 2010 Share Posted December 29, 2010 By way of update on rates:- Siam Commercial BankThailand2010-12-29 03:15 GBPTHB46.176250.0216562Chart Thanachart BankThailand2010-12-29 07:463GBPTHB46.140.0216732Chart Bangkok BankThailand2010-12-29 07:102GBPTHB46.140.0216732Chart Siam City BankThailand2010-12-29 01:321GBPTHB46.1250.0216802Chart Kasikorn BankThailand2010-12-29 01:151GBPTHB46.121250.021682Chart Krung Thai BankThailand2010-12-29 09:09 GBPTHB46.103750.0216902Chart Bank of AyudhyaThailand2010-12-29 10:20 (167 min ago)4GBPTHB46.080.0217014Chart CIMB ThaiThailand2010-12-29 09:453GBPTHB46.07750.0217026Chart UOBThailand2010-12-28 17:002GBPTHB46.0380.0217212 Link to comment Share on other sites More sharing options...
.png.3b3332cc2256ad0edbc2fe9404feeef0.png)
Recommended Posts
Create an account or sign in to comment
You need to be a member in order to leave a comment
Create an account
Sign up for a new account in our community. It's easy!
Register a new accountSign in
Already have an account? Sign in here.
Sign In Now