Money Transfer Times

[dean999]

Sorry if you all know this already.

I normally transfer money to my wife via my bank to her bank (swift transfer). This normally takes about 4 working days. Her bank is Bank of Ayudhya.

Anyway, she is with me now, out of Thailand. I needed to transfer money for bills ect to her daughter. She is banking with Kasikorn and i was shocked how much faster it is to transfer money to that account.

I phoned my bank yesterday at 11am UK time and the money was in her account and ready to be drawn out, morning Thai time. That is less than 24 hrs.

So my thinking is Bank of Ayudhya is sitting on that money and not doing anything for 3 - 4 days.

I have only sent one transfer to Kasikorn, so it could be i was just lucky it got through so quick. All i do know is, my wife is changing her bank when we get back to thailand.

Kasikorn seams like a much better bank. They even have a number to contact if you have problems with your account. Yellow bank doesn't.

Well thought i would just share my experiance.

[Daveroc]

4 days is certainly excessive and if this is the norm, you would need to discuss with Bank of A. why it is taking so long. possibly your remitting Bank does not have a direct relationship with Bank of A. and it is being routed tyhrough a third organisation.

A further example in timing is my own today. I requested a transfer from my Bank in New Zealand to Bangkok Bank in Bangkok. My NZ Bank called at 9.30am Thai time to confirm the instruction and I received notification through the BBL SMS alert facility that the funds were being lodged to my account aqt 11.10am

[WhizBang]

 Pretty much all my transfers (assuming not a weekend or holiday), usually average about 36 hours.  That's to Bangkok Bank routing through New York.

Holidays, especially Thai holidays, can throw a spanner into the works.

[Lefty]

For me it takes about 12 HOURS for SWIFT wire to reach my Kasikorn account from my bank in the U.S.

Been this way every month for last 2 years.

Lefty

[Tafia]

I'm the same as other posters, SWIFT from UK to Kasikorn less than 24hrs providing no weekends and Bank Holidays.

Usually if ordered on day 1 arrives early day 2. Never been later than that.

Its possible it is the sending bank and not the receiver that is sitting on it as you are dealing with the UK Banks

[CharlieH]

I route mine through Bankok Bank London, takes the UK bank 2-3 days to get into London then BKK bank less than 24 hrs to Thai account.

[Spoonman]

I do online transfers between my K bank account and my AUS ANZ bank account, either direction and the money shows within 2 hrs, fookin awesome.

[dean999]

Whenever i do transfers they do say its going through a third party, but it just seams strange its quicker through one than the other.

I used the same bank for all my transfers, its only the receiving bank that has changed. So its got to be the same third party.

[glassdude007]

My pay comes from Switzerland last day of every month.....

some cash goes too Thailand Kisachorn bank there same day sweet...

Kisachorn also has great Internet banking can pay bills and transfer money quick and easy on line great bank..

then Some cash goes to USA/ HBSC and takes 3-4 working days and they charge me for a wire transfer fee to deposit money in my account can you believe that crap??

looking for a better way to get money to my kids in USA any ideas....

[Daveroc]

Whenever i do transfers they do say its going through a third party, but it just seams strange its quicker through one than the other.

I used the same bank for all my transfers, its only the receiving bank that has changed. So its got to be the same third party.

Not necessarily. If your remitting Bank does not have a correspondent arrangement with the receiving bank, they need to find a third pary that has a relationship with both the remitting and the final receiving Bank to complete the transfer. i.e Bank A remits to Bank B but may need to use Bank C to be the intermediary.

If you change the receiving Bank, the Remitting bank may have to find a different third party that has that relationship. Because Bank C does not have a relationship with your new receiving Bank they may have to find another Bank to complete the transaction.

[chainarong]

Just sent Hsbc. HK to K Bank , it will be in the account tomorrow morning. Sending through Cba AU takes up to 3,4 days depends on your sending time , but sending money out of Australia like most everything leaving AU is terrorist related and must be checked, so we are all criminals until proven otherwise.

[Iamemjay]

I regularly transfer funds from Australia (via Pennytel and swift - it's free!) to my Ayudhya account. Unless a Thai public holiday causes a hiccup it takes 24 to 36 hours. The process of forwarding the funds also involves making a transfer in Australia.

Pennytel advise me when the funds leave Australia and Ayudhya bank invariably SMS me within 12 hours to advise it is in my a/c. I cannot fault the service they give me - and by the way, I'm in a rural centre in the far North.