This has happened twice now...

A friend recently transferred exactly 30,000 THB from HSBC UK to my SCB account. On top of which, he also paid 21.00 GBP to ensure the full 30,000 baht landed in my account.

Each time it arrived it was 600 baht short.

After phoning SCB last Sunday to check where the cash was going, the operator proudly declared they don't charge anything for incoming transfers – it must be the fault of HSBC.

After going into SCB yesterday, they revealed they did charge 100 baht for the transfer, with HSBC charging 500 baht for it to go from HSBC UK to HSBC Bangkok (Hong Kong & Shanghai).

IMHO, SCB have already discredited themselves by not admitting to this 100 baht charge in the first place, but I also really can’t imagine HSBC deciding to throw another 500 baht on top of the 21.00 GBP already paid to transfer the cash. SCB mentioned they’d get somebody from HSBC to call me and verify – this also hasn’t happened yet.

Personally, I reckon SCB is on the make here. Anybody else had similar experiences?

I am guessing that HSBC BKK have charged the 500 Baht for the transfer to SCB.

It is very normal for "corresponding" bank to charge a fee when relaying a wire - has happened to me many times - and it is normally in the $10-15 range.

Cheers!

I tried this before around Asia. HSBC will not accept remittances directly to another bank. They alway involve their own branch, even if you instruct "remittance without intermediary of a third bank."

You might try to find SCB-correspondent in the UK and use them instead.

It's not worth trying to transfer an exact amount of Baht, exchange rates vary on a whim.

You get a better rate if you transfer your home currency (sterling, dollars or whatever) and get the conversion done at the Thai end. Just guestimate from the exchange rate and make any adjustments on the next transfer.

This has happened twice now...

A friend recently transferred exactly 30,000 THB from HSBC UK to my SCB account. On top of which, he also paid 21.00 GBP to ensure the full 30,000 baht landed in my account.

Each time it arrived it was 600 baht short.

After phoning SCB last Sunday to check where the cash was going, the operator proudly declared they don't charge anything for incoming transfers – it must be the fault of HSBC.

After going into SCB yesterday, they revealed they did charge 100 baht for the transfer, with HSBC charging 500 baht for it to go from HSBC UK to HSBC Bangkok (Hong Kong & Shanghai).

IMHO, SCB have already discredited themselves by not admitting to this 100 baht charge in the first place, but I also really can’t imagine HSBC deciding to throw another 500 baht on top of the 21.00 GBP already paid to transfer the cash. SCB mentioned they’d get somebody from HSBC to call me and verify – this also hasn’t happened yet.

Personally, I reckon SCB is on the make here. Anybody else had similar experiences?

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I'm just wondering whether to make similar transaction, but transferring UK Sterling for conversion in Thailand ... HSBC to SCB (possibly Kasikorn).

I asked my local branch of SCB about this and was told that the money from UK would go into SCB Bangkok (International Division), who would make a (small) charge and then transfer to my local account. They were pretty straight about it, didn't know what the charge would be and said I'd have to ask SCB BKK. My experience so far with SCB has been good, I already had a Kasikorn account, but found the branch always had long queues and a bit of an attitude problem, my local SCB by contrast is easy to get to counter and has a far more friendly attitude. I'd guess it varies in different banks/branches. Have found myself a bit concerned though by all the posts on lax security in respect of accounts and don't know if I like the idea of having much money in a Thia account.

With all these costs and hassles, why not just use an ATM?

With all these costs and hassles, why not just use an ATM?

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1. You take a hit on exchange rate (1-3% is normal).

2. You pay a fee (normally).

3. You require the atm to be able connect - not always easy.

4. You have no proof of transfer for immigration visa extensions.

5. Lose or damage card and you are without access to money.

The fact is that a normal SWIFT transfer is fast/trouble free and the total fees less than .5% in most cases (when you transfer large amounts each time).

I can tell you precisely what has happened here.

HSBC has routed the money via HSBC Bangkok, who in turn has sent it to SCB.

HSBC UK and HSBC Thailand are discrete entities ('Worlds's Bank is just a marketing puff)

HSBC Thailand make an extra charge over-and-above the charge that appears on your HSBC UK remittance. Their charge is undisclosed, you will only be able to determine it from the money that evertually arrives.

When I bought my flat in Thailand, I found HSBC Thailand had pocketed THB 20,000 - quietly and without telling me before passing the money to Bangkok Bank. (In excess of the US$100 fee from the HSBC overseas)

I went ballistic and got a refund.

NEVER use HSBC for offshore remittances.

I also recommend you do not open an account with HSBC Thailand as they charge 0.5% of any money deposited.

They arew a fee-machine.

it sounds as though you would benefit fromusing the Nationwide flex account cash card method for getting small sums to LOS from UK with minimum hassles