Swift - Must It Start Outside Thailand?

[PeaceBlondie]

I've searched several threads about SWIFT and couldn't see an answer to this problem.

Because the $%^&&**( Immigration Police won't honor the visa issued to me by the Ministry of Foreign Affairs, I have to go to some place like Penang, this month, and get a real visa. Lopburi3 suggested I get a visa that requires 200,000 baht in a Thai bank.

I have the SWIFT code for the Wells Fargo branch where my US dollars are waiting to come to Thailand. But the manager at my branch of Bank of Ayutthaya says they can't do a SWIFT. It has to originate in the foreign country. But as I nicely pointed out to her, we are both in Hua Hin, Thailand.

Is she just misinformed? She says she checked with the main office.

So, you can only do a SWIFT when you're in the country where the funds are? That's not what you guys seem to have said in other posts and threads, nor what Wells Fargo indicated.

Maybe I'll just draw the money out of my credit card and my checking account, 20,000 baht at a time. I'm limited to once every 24 hours at my bank, but MBNA probaby lets me do it several times per day. But MBNA charges exorbitant amounts even when I maintain a credit balance!

Thanks, y'all.

[ZZZ]

You have to get the SWIFT code for your Bank of Ayutthaya bank in Thailand and send that to your bank in US and tell them to send the money to your account in Thailand.

[lomatopo]

She was not misinformed. You need to initiate an international wire transfer directly with Wells-Fargo. You should ask the Thai bank for the details of their correspondent bank in the U.S.A. Unless you have have previously made arrangements with Wells-Fargo to initiate remote transfers I seriously doubt that they will allow you to do so without appearing in person.

http://www.krungsri.com/eng/40/451.htm#5

International Funds Transfer

A fast and effective way to transfer money to designated accounts anywhere in the world via SWIFT and Telex service. With our nationwide brance network, funds will directly be deposited into a beneficiary's account at a minimal cost.

SWIFT CODE : "AYUDTHBK" (omit the quotation marks)

For more information, please contact : 02 296 2890-2, 02 296 2894, 02 296 2893, 02 296 2896-7

[thohts]

If Wells Fargo has internet banking, try to see what your options are for international wire transfer with that

[george]

Technically a SWIFT currency transaction is an international transaction, but every bank branch in the world can communicate via SWIFT, even locally. It is a secure messaging system, within the bank community.

In order to be eligible for your visa, you need to import currency from abroad, so it' s your foreign bank that you have to contact. They have to send the S.W.I.F.T. from there to Thailand into your account.

Then you just need a confirmation letter from your local bank office. Add that letter in original to your pile of paper to the Immigration Bureau.

[lopburi3]

As said the originating bank is the one you have to deal with. And you will most likely have to have a wire transfer agreement on file in order to do a SWIFT transfer without being there. If you have someone you trust you could probably transfer to there account and have them do the wire transfer to you.

[PeaceBlondie]

Thanks, y'all. I don't think I was properly informed at Wells Fargo, at my local branch, when they basically gave me their swift code. Last night Santiago just gave me the code again, without saying much else (except, "What will you bring me back from Thailand?"). I've decided to just keep withdrawing 20,000 baht every 24 hours until I've got my quota. I'll check their website, too.

[chownah]

Peaceblondie,

I've got an account at MBNA and transfer all my funds by swift from them to my Bangkok Bank account. If you can get your money transfered to MBNA then here's what you do. First you call them on their international collect line(yes its free)...the number is 302-457-0719. I call them using AT&T by calling 00199911111 and then follow the computer and say 'collect' when prompted to do so by the computer....sometimes you need to try a few times and if you call just when they open you can get through or if you wait until about 10:00am their time its better too. Then you tell them your MBNA account number, the amount you want to transfer, The name of the bank in Thailand and the branch(with branch number if applicable), the swift code for the Thai branch, the account number for the Thai account, the name the Thai account is registered to (your name)....I believe that is all you need to tell them...ask them if they need any more info but I've done this many times before and this is what I do every time. You tell them that tomorrow you will send them a fax to them (get the persons name you are talking to and send the fax Attn: them) and in the fax you will have all of the same info that you just got through giving them. Every time I use the exact same format for the fax:

Date on top.

To: MBNA Bank N.A.

Attn: whoseit.

I request and authorize you to wire the amount of $xx,xxx.xx (eks thousand, eks hundred eksty eks dollars and eksty eks cents)

from my account xx-xxxx

to my account at: Thai Bank Whatever

xxx your village branch

Swift: xxxxxxxx

account xxxxxxxx

account name: MR. Rice Farmer Chownah

Thank you,

SIGN IT HERE WITH YOU OFFICIAL SIGNATURE AND DON'T FORGET TO DATE IT.

PRINT YOUR NAME HERE

They have 3 fax number 800-994-6667 which I can never get to work so I never use this one. Also 302-457-0751 which worked up until the last time and then it was broken but a message said that they were going to fix it soon. and finally 302-457-0700 which was the number they gave me when I discovered that the other one was temporarily broken..............ask them for the fax number but be sure to get a back up in case one is broken. The fee is between US$25 and US$30 for each transfer I think. This has always worked perfectly for me...good luck.

[susah_sih]

You should write the following letter:

Dear Sir,

Hereby I instruct you to debit my account#xxxxxx (WELL's account nbr) for USDxx,xxx (in words) and remit the amount to:

****************************************************

Account Name: Your name (probably)

Account No: xxxxx (your account # at Bank of Ayudhaya, eliminates all dashes & hifens)

Bank: BANK OF AYUDHAYA, THAILAND

SWIFT: AYUDTHBK

Message: CREDIT YOUR HUA HIN BRANCH

****************************************************

Sincerely,

SIGN

NAME

DATE

Do not put any other info cause it will confuse people at Wells. (they cannot tell the difference between Hua Hin and Thailand, nor do they care about it. Otherwise they would look for a country or city all over the world by the name of Hua Hin).

Please also note how you spell AYUDHAYA and NOT AYUTTHAYA. I guarantee such thing will make Wells unable to transfer your money. Not need to put Wells SWIFT.

FUNDS TRANSFER within the country also uses SWIFT, BAHT NET ALSO uses SWIFT. SWIFT = SECURED TELEX = TESTED TELEX. It is the mechanism to remit message and NOT the media upon which money gets transfered.

For those skeptics, please check http://www.swift.com/biconline

At least for Citibank, I am able to do all this wire transfer online. I just need to look for the swift of my recipient bank from www.swift.com/biconline

Edited October 12, 2005 by susah_sih