Uk - Thailand Tranfer - Less Than 12 Hrs !

[CharlieH]

Usually it takes about 2-3 days to tranfer via online from UK bank to London branch of Bangkok Bank, then 24 hrs from there to my Thai account.

Yesterday at 9pm (thai time) I moved the money via online banking and it arrived in my Thai account via sms message at 9 this monring.

Amazed and hope this will become the norm.

[Tafia]

I transfer from Nationwide to Kasikorn online, it has never taken longer than 24 hrs unless a weekend or Bank Holiday is involved. An exceptional good service considering how long it takes to transfer cash within the UK....as you say long may it continue!!

In this age of electronic transfers you have to ask why in the UK it takes 2-3 days to shift cash from your UK Bank to the UK based Bangkok Bank, while they can do International transfers within 24 hrs and within Thailand it takes minutes to transfer cash to or from other banks?

Just another bankers scam!!

Edited March 6, 2012 by Tafia

[seaeagle]

I transfer from Nationwide to Kasikorn online, it has never taken longer than 24 hrs unless a weekend or Bank Holiday is involved. An exceptional good service considering how long it takes to transfer cash within the UK....as you say long may it continue!!

In this age of electronic transfers you have to ask why in the UK it takes 2-3 days to shift cash from your UK Bank to the UK based Bangkok Bank, while they can do International transfers within 24 hrs and within Thailand it takes minutes to transfer cash to or from other banks?

Just another bankers scam!!

Sorry, but what is the 'scam'?

Edited March 6, 2012 by seaeagle

[Lefty]

Wells Fargo bank in U.S. -REQUEST FUND TRANSFER AT 8:00PM and funds in my KaSIKORN account at around 9:00AM next morning- so about 12 hours,this has been the case for at least 2 years. Cost $30, up from $15 just 6 months ago.

Lefty

[lopburi3]

I have also had next day online ACH service from USA but, as yours, was with a holiday two days out. So it appears Bangkok Bank New York/London clear there books faster for an upcoming Thai holiday? Or Bangkok Bank here processes faster rather than holding overnight? My funds normally clear at OOB about 0900 but on the next day holiday case it cleared very late in the day.

[lungpeter]

I transfer from Nationwide to Kasikorn online, it has never taken longer than 24 hrs unless a weekend or Bank Holiday is involved. An exceptional good service considering how long it takes to transfer cash within the UK....as you say long may it continue!!

In this age of electronic transfers you have to ask why in the UK it takes 2-3 days to shift cash from your UK Bank to the UK based Bangkok Bank, while they can do International transfers within 24 hrs and within Thailand it takes minutes to transfer cash to or from other banks?

Just another bankers scam!!

Sorry, but what is the 'scam'?

3 days of intrest on ur money

[Tafia]

Sorry, but what is the 'scam'?

Keeping your and everyone elses money for a further 3-4 days without interest to you or the cash being available.

There have been occasions in the UK where they (The Banks) claim it takes upto 5 working days (not including weekends) to do a transfer to another bank...and that sir, is a scam

Here in Thailand transfers are effected in minutes not days!

[Pib]

I transfer from Nationwide to Kasikorn online, it has never taken longer than 24 hrs unless a weekend or Bank Holiday is involved. An exceptional good service considering how long it takes to transfer cash within the UK....as you say long may it continue!!

In this age of electronic transfers you have to ask why in the UK it takes 2-3 days to shift cash from your UK Bank to the UK based Bangkok Bank, while they can do International transfers within 24 hrs and within Thailand it takes minutes to transfer cash to or from other banks?

Just another bankers scam!!

Sorry, but what is the 'scam'?

3 days of intrest on ur money

At current low interest rates, savings or checking pretty much worldwide, that could add up to a couple of baht on a large sums...but that assumes it indeed set in limbo for 3 days in not earning any interest at your Sending bank or your Receiving bank. I expect the period of no interest earned was significantly less than 24 hours unless getting unlucky with weekend/holidays/MIA transfer funds.

[fletchsmile]

Charlie,

I had an email from my UK bank in 2011 saying they were bringing in a Faster Payment System to cut down clearing times. From 1 Jan 2012 any BACs transfers (most common online transfer method for your average Joe) would clear next day and if possible would use the Faster Payment System to clear within 2 hours for UK interbank transfers. So this should be the norm for UK interbank transfers now. This is instead of the previous 3 business days which was finally picked up as behind the times

Additionally overseas transfers were to be speeded up.

So you're benefiting from changes to the UK banking system and it should be the norm. I believe they could have started in 2008 should they have chosen to do so. For a variety of reasons many banks left till later.