Atm Transfers After 10Pm

[DangerfieldLives]

Hi all,

On Saturday night I transferred funds from a Bangkok Bank account to an SCB one at about 11pm via a Bangkok Bank ATM. The transfer was confirmed and the money left my account. BUT the money did not show up in the SCB account then nor has it by Monday morning.

I have phoned Bangkok Bank and they have said they will conduct an investigation. I'm wondering if anyone has had an experience like this before and if so, whether it was resolved satisfactorily. It's frustrating as I'm now reading that there are problems with transfers after 10pm. If that's the case, then they should simply not be allowed.

Any advice, feedback is appreciated.

Thanks

[Swiss1960]

You can not expect a transfer from bank to bank to happen in less than 24-72 hours. First bank has to send the transfer order to the Thai exchange network and the second bank has to receive the order and has to process it through their internal processes to your account.

For the timing, it all depends

- does your transfer out of your bank account happen before the deadline your bank has for sending it out to the Thai exchange network

- does the Thai exchange network process your transaction to the incoming bank during bank holidays / weekends

- does your incoming bank process transactions online or only nightly in a batch (bulk) process

As an example, in Switzerland deadline for an Swiss internal e-banking transaction is 2pm on Friday, would be handled by the outgoing bank on Friday night, would be transferred by Swiss Interchange on Monday night, arrive at the incoming bank on Tuesday morning and would be available in your incoming account on Tuesday night / Wednesday morning.

[DangerfieldLives]

Thanks for the reply. I regularly transfer funds between these two accounts and I'm used to the transactions happening instantly. The issue here would appear to be the time of the transfer, as you say, outside of network hours. It is just a little disoncerting to see that yes, the funds are out of the original account, but there is no record of the deposit having been made in the second account (it's not waiting to clear, or anything). Hopefully it is just a matter of extra processing time.

[ShopBoy]

Transferring between local banks via atm or online usually happens instantly

[DangerfieldLives]

That has been my experience, but apparently it's different when the transactions take place after 10pm. Also, this was a Saturday evening, so perhaps that had something to do with it.

[2unique]

Transferring between local banks via atm or online usually happens instantly

Try to do it after 8/9am and before 6pm in future...

[4evermaat]

That has been my experience, but apparently it's different when the transactions take place after 10pm. Also, this was a Saturday evening, so perhaps that had something to do with it.

<br />Transferring between local banks via atm or online usually happens instantly

Try to do it after 8/9am and before 6pm in future...

at the atm, i'm not sure if the option is available to choose the type of transfer to 3rd party banks. on internet banking, my default for 3rd party thai bank recipients is "T-express" which the funds are transferred immediately. there are two other options for end of day and end of 2nd biz day if you meet a cutoff time. i dont see why anyone sending funds would use anything but T-express.

perhaps either internet transfer, or withdraw/cash deposit into the same-bank's target cdm machine to guarantee instant credit.

"2nd best time to plant a tree is today." Sent from TV android app.

Edited April 2, 2012 by 4evermaat

[wayned]

I use Bangkok Bank internet T-Express. It will not allow me to transfer funds between 10 pm and 6 am.

[WhizBang]

Saturday night, late (10pm)... bank(s) closed.

Sunday... bank(s) closed.

Monday (assuming it's not a holiday, the transfer will take place once the banks open.

When I transfer via iBanking, I sometimes have three options... Immediately, mid day, by end of day (paraphrazed).

The transfer fee goes down the slower the method I choose.

I wouldn't start to worry unless the transfer has not shown up by end of business Monday.

[WhizBang]

I use Bangkok Bank internet T-Express. It will not allow me to transfer funds between 10 pm and 6 am.

I have never had an internet transfer not go through, but I have had a message stating that the transfer will not complete until a certain time the next day.

[DangerfieldLives]

Just to update, the funds did go through, close to the end of business today (Monday). I've learned my lesson and will be careful about making transfers that late... though the banks could stand to give customers some warning.

Thanks for the feedback.

[Sateev]

You can not expect a transfer from bank to bank to happen in less than 24-72 hours. First bank has to send the transfer order to the Thai exchange network and the second bank has to receive the order and has to process it through their internal processes to your account.

For the timing, it all depends

- does your transfer out of your bank account happen before the deadline your bank has for sending it out to the Thai exchange network

- does the Thai exchange network process your transaction to the incoming bank during bank holidays / weekends

- does your incoming bank process transactions online or only nightly in a batch (bulk) process

As an example, in Switzerland deadline for an Swiss internal e-banking transaction is 2pm on Friday, would be handled by the outgoing bank on Friday night, would be transferred by Swiss Interchange on Monday night, arrive at the incoming bank on Tuesday morning and would be available in your incoming account on Tuesday night / Wednesday morning.

This is simply NOT the case in Thailand. ATM transfers are generally instantaneous.

No comment as to whether or not this is a secure practice, but, so far, I have never had a problem, and consider the Thai system to be FAR superior to that which I left behind in the US (and, apparently, Switzerland).

[wayned]

I use Bangkok Bank internet T-Express. It will not allow me to transfer funds between 10 pm and 6 am.

I have never had an internet transfer not go through, but I have had a message stating that the transfer will not complete until a certain time the next day.

You are right, I get the same message after 10pm and before 6am. I just don't trust the system so I don't do transfers during those hours.

[creck]

Recently, I found I could not do an ATM transfer between my own (Bkk Bank) accounts late at night.(Can't remember the exact time) I just got a very general message saying there was something wrong with the amount or the action I had requested. I reduced the amount but could not get satisfaction until the next day. It seems the time restriction applies within (at least some) banks as well as interbank.

Edit:

Internet international transfers I have done, seem to be restricted to the working hours of the sending Bank. I have assumed that anti laundering regulations require human supervision.

Edited April 3, 2012 by creck

[4evermaat]

......

This is simply NOT the case in Thailand. ATM transfers are generally instantaneous.

No comment as to whether or not this is a secure practice, but, so far, I have never had a problem, and consider the Thai system to be FAR superior to that which I left behind in the US (and, apparently, Switzerland).

Couldn't agree more. I think a large part of it is because of the cash-based society nature of Thailand. I'm sure other cash-based societies have similar speediness in moving funds around (vs those that strongly encourage credit and other consumer priviliges/protections).

Recently, I found I could not do an ATM transfer between my own (Bkk Bank) accounts late at night.(Can't remember the exact time) I just got a very general message saying there was something wrong with the amount or the action I had requested. I reduced the amount but could not get satisfaction until the next day. It seems the time restriction applies within (at least some) banks as well as interbank.

Edit:

Internet international transfers I have done, seem to be restricted to the working hours of the sending Bank. I have assumed that anti laundering regulations require human supervision.

perhaps someone from Bangkok bank can comment, but i don't remember having problems at the CDM machine. But ATM/internet instant transfers may be disabled during maintenance period, which appears to be 8 hours 22:00-06:00. Not sure if you can schedule internet transfer for the next day.

at the atm, you would need to withdraw and then deposit the money into the CDM. Maybe test with a small amount first to make sure CDM is operational?

[aurelius]

Recently, I found I could not do an ATM transfer between my own (Bkk Bank) accounts late at night.(Can't remember the exact time) I just got a very general message saying there was something wrong with the amount or the action I had requested. I reduced the amount but could not get satisfaction until the next day. It seems the time restriction applies within (at least some) banks as well as interbank.

Edit:

Internet international transfers I have done, seem to be restricted to the working hours of the sending Bank. I have assumed that anti laundering regulations require human supervision.

Its currency risk they are concerned about, not money laundering.

[aurelius]

......

perhaps someone from Bangkok bank can comment, but i don't remember having problems at the CDM machine. But ATM/internet instant transfers may be disabled during maintenance period, which appears to be 8 hours 22:00-06:00. Not sure if you can schedule internet transfer for the next day.

at the atm, you would need to withdraw and then deposit the money into the CDM. Maybe test with a small amount first to make sure CDM is operational?

As I understand it, CDM and Internet banking transactions between banks are switched and settled by two different entities. One supports 24 hr transactions, the other doesn't.