Royal Approval for 23 Gambling Activities, Including Bull Races and Mahjong

[luffyp]

Hi all.

I am in the UK and using HSBC. I would like to send money to Krung Thai bank account in Thailand (for the first time) using HSBC's internet banking. I need some help filling in the form please. I have the following information at hand:

Beneficiary account number (10 digits)

Beneficiary account branch and address

Krung Thai swiftcode (KRTHTHBK)

On the HSBC's transfer form:

I put beneficiary address in the box Full Beneficiary Address

I put KRTHTHBK in the box Beneficiary Bank Identifier Code

I put Beneficiary account number (10 digits) in the box Beneficiary IBAN number/ account number

I have the following questions

1. Where do I specify the branch of Beneficiary account? If I put the branch name in English after account number in the box Beneficiary IBAN number/ account number I will get the message that account number is invalid.
   
2. I try to put only account number in the box Beneficiary IBAN number/ account number and the transfer seems to be okay
   (I haven't clicked confirm) but how do they know which branch I want to send money to?
   
3. There is no box about Intermediary Bank. Does this mean the exchange rate will take place in UK or Thailand?
   

This is my first time sending money to Thailand. I'm sending the small amount of money first to test. Eventually I will send quite a large amount of money so I want to make sure the money reaches the Beneficiary account in Thailand. I would appreciate it if someone can help a noob filling the form please especially those who has done this before using HSBC internet banking.

Thank you very much

[MESmith]

Shouldn't the "full beneficiary address" be that of the bank branch, not the person you're sending the money to?

[ThaiLife]

Hi, This is the way I fill out my HSBC on line form to arrange a transfer of money from my UK HSBC bank account to my Thai bank account

its all ways worked for me .

[luffyp]

Thank you! I didn't know "full beneficiary address" is for the bank. The transaction went without problem. Hopefully it will reach the beneficiary person

[SantiSuk]

Hi, This is the way I fill out my HSBC on line form to arrange a transfer of money from my UK HSBC bank account to my Thai bank account

its all ways worked for me .

It worked for you, but you were presumably sending money to your own account. The OP is proposing to pay someone else. He should put that other person (the beneficiary's) full name - the name he/she uses with his bank if possible (but not essential as long as it identifies the person).

In the beneficiary's address address box, The OP should put the (surprise surprise) beneficiary(ie)s address - their home or business address. It is not necessary to provide the address of a bank - the Swift code ('Beneficiary Bank Identifier code' on the HSBC form) identifies the bank sufficiently for the global banking system.

The beneficiary Account Number again is the account number of the person you intend to pay (only you if you are transferring to your own account in Thailand.

Apologies in advance if I am way off beam, but I am a regular HSBC user in the UK and Thailand for many years and I fear that the OP will already have completed the form erroneously. I would feel more comfortable if I could check some of my previous payments online, but the service is now sleeping for the night.

If the OP's form has been completed wrongly it will probably be picked up before funds leave his account and bounce into limbo, but he might like to phone the bank tommorrow!

PS Most Thai banks (well, the ones I have paid into) use one central Swift/BIC code for their bank's entire branch network: in these cases nobody is interested in you identifying the branch or its address. The bank identifier (SWIFT/BIC) and account number (IBAN) is sufficient to identify the receiving bank and for the receiving bank to channel the funds to their correct customer wherever he is. The fact that the OP quotes KRTHTHBK as the Swift/BIC suggests to me that Krungthai has one central code only. If branches have their own individual Swift/BIC codes then hopefully the intended recipient will have given you a code that was given to him by his own branch and which is unique to that branch.

[SantiSuk]

Duplication - sorry

Edited January 4, 2012 by SantiSuk

[luffyp]

@Santisuk

Thank you very much for your correction. I did put the beneficiary's full name in the box Beneficiary name. However, in the box Full Beneficiary Address I put the bank branch address rather than the beneficiary address (as per suggested). Now I have two contradiction suggestions and I'm a bit confused. I already sent the money. I hope it is ok

Yes, Krung Thai bank has only one swiftcode. But if you say that the central swiftcode and account number are enough to identify the beneficiary's account then they shouldn't have problem as to where to send the money to. The problem now is what exactly to put in the box Full Beneficiary Address. My common sense tells me that this should be the address of the person who is receiving the money. But I might be wrong.. Can some body confirm please.

[Bpuumike]

When I transfer to the Bangkok Bank I put that branch address in the Beneficiary Address.

Also, specify that you want the transfer made in GBP, not THB, as you'll get a better rate if it's exchanged in Thailand.

[chainarong]

I use HSBC from HK to the KBank, I use a Kbank branch in Phitsanulok, the recipient name / address is the person who you are sending to, all accounts go through a central computer , the computer will find the account, the exchange rate is calculated from the UK, cost can be made to sender or recipient or both

[luffyp]

Thank you. It looks like Beneficiary Address is the address of the bank branch then.

[SantiSuk]

Thank you. It looks like Beneficiary Address is the address of the bank branch then.

I note that others are syaing put the branch address in the beneficiary address. Why you are all doing that god only knows - if it says beneficiary address it means address of the beneficiary. Does the beneficiary live at the branch? If they wanted you to put 'branch address of the beneficiary' they would ask you to put 'branch address of the beneficiary'.

I'm not as disgruntled about this as I sound

I agree it's highly unlikely to go wrong if you put the beneficiary's branch address in. I assume it is asked for only to act as a back-up if there is some doubt between a couple of accounts where the money was intended to go.

[luffyp]

Just to update everyone. I checked with the beneficiary and he received the money both times (I sent the money twice). You maybe right that it's only used as a backup since Swiftcode and account number should be enough.

I agree it's highly unlikely to go wrong if you put the beneficiary's branch address in. I assume it is asked for only to act as a back-up if there is some doubt between a couple of accounts where the money was intended to go.

[chiang mai]

IBAN numbers are only used for transfers within Europe and have no purpose in transfers to Asia.

[chainarong]

Thank you. It looks like Beneficiary Address is the address of the bank branch then.

Thank you. It looks like Beneficiary Address is the address of the bank branch then.

The beneficiary is the person who you are sending the money to, so you need their address, as it is in their bank account, the bank address can be the head office (SWIFT code) or the local one down your road, as long as the account number is correct the computor will find the account.

[highchol]

i thought IBAN numbers were only needed for inter european bank transfers, other transfers outside of europe swift codes needed ?

[chiang mai]

i thought IBAN numbers were only needed for inter european bank transfers, other transfers outside of europe swift codes needed ?

That's correct, see post #13.