Transfering Money Uk To Bangkok Bank With Bacs System

[stevehaigh]

my UK bank, Barkleys, is clearly still in the 19th century, abacuses, sliderules and stuff. they don't allow you to set up overseas transfers remotely.

but bangkok bank UK has a thing called the BACS system. you transfer money to a special account in the UK and add your bangkok bank account number as a reference code.

thing is, i can't find anything on their web site about transaction limit. http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Transfering%20Funds/Transferring%20into%20Thailand/Receiving%20Funds%20from%20UK/Pages/UK_Internet%20Banking.aspx

i used to think it 5000GBP but can't see that and no one answers the phone on that UK number

any ideas? has anyone used this service?

thx

[CharlieH]

I have have transferred up to 10k at a time in the past with no problem.

[stevehaigh]

I have have transferred up to 10k at a time in the past with no problem.

ok, thanks. how long did it take to show up in your account?

[CharlieH]

I have have transferred up to 10k at a time in the past with no problem.

ok, thanks. how long did it take to show up in your account?

They have changed there system recently and it now shows in the Thai account within 24hrs of hitting the London branch. The slow part is the Uk bank to bank which is crazy in this day and age.

[chiang mai]

The limit on BACS transfers is GBP 100k, the BACS system is primarily used for inter UK transactions but by denoting Bangkok Bank UK on the transfer allows Bangkok Bank to make the international transfer to your Thai account. Note: BACS transfers can take a few days whereas SWIFT transfers can be the same day.

[stevehaigh]

thanks, now i come to think of it, i think the 5000GBP limit i was thinking of is Barclays over the phone transfer limit

its a bit of a pain because i'd like to send more to reduce charges, but still cheaper than going there

Edited May 17, 2012 by stevehaigh

[ppam888]

This service is FANTASTIC. I just started using it the other day.

On Tues afternoon (Thailand time) transferred from Santander (UK) using internet banking a small amount to test. Checked at atm on Weds evening, its in my account.

On that same evening, around 9pm Thailand time, transferred a large amount. Checked my account around 5pm the next day, its arrived!

In summary, so far, its taken just one working day for the funds to arrive. I think just make sure you send before the banks in the UK close (if you want it the next day). Also it might depends on your bank. Basically I think whenever your transfer arrives at Bangkok Bank in the UK, you ll get your funds in Thailand the next day.

But you may hear this many times already: always send in sterling!

P.s. dont bother asking about this service at any branch in Bangkok Bank, I tried and they were completely clueless (I and speak fluent Thai). It works 100%.

Enjoy!

[Huayrat]

I transfer money from uk to bangkok bank everymonth.. The money is in the bangkok bank the following day

[chiang mai]

This service is FANTASTIC. I just started using it the other day.

On Tues afternoon (Thailand time) transferred from Santander (UK) using internet banking a small amount to test. Checked at atm on Weds evening, its in my account.

On that same evening, around 9pm Thailand time, transferred a large amount. Checked my account around 5pm the next day, its arrived!

In summary, so far, its taken just one working day for the funds to arrive. I think just make sure you send before the banks in the UK close (if you want it the next day). Also it might depends on your bank. Basically I think whenever your transfer arrives at Bangkok Bank in the UK, you ll get your funds in Thailand the next day.

But you may hear this many times already: always send in sterling!

P.s. dont bother asking about this service at any branch in Bangkok Bank, I tried and they were completely clueless (I and speak fluent Thai). It works 100%.

Enjoy!

Apologies but I'd like to understand the process more completely. So the idea is that a person transfers from their UK bank, to Bangkok Bank London but uses their Bangkok Bank Thailand account number? What sort code should be used, Bangkok Bank London?

[CharlieH]

Apologies but I'd like to understand the process more completely. So the idea is that a person transfers from their UK bank, to Bangkok Bank London but uses their Bangkok Bank Thailand account number? What sort code should be used, Bangkok Bank London?

Full information and clear instructions on Bangkok bank website.

You dont need an account in LONDON, just your Thai account.

READ THIS : http://www.bangkokba...et Banking.aspx

Edited May 18, 2012 by CharlieH

[chiang mai]

Apologies but I'd like to understand the process more completely. So the idea is that a person transfers from their UK bank, to Bangkok Bank London but uses their Bangkok Bank Thailand account number? What sort code should be used, Bangkok Bank London?

Full information and clear instructions on Bangkok bank website.

You dont need an account in LONDON, just your Thai account.

READ THIS : http://www.bangkokba...et Banking.aspx

Thanks Charlie, much appreciated.

[SantiSuk]

What exchange rate is BKK bank giving to the GBP in the last couple of weeks for transfers from BKK London branch (or any other UK bank for that matter)? I have monitored the BKK bank rate (buying rate TT) on their website for several months and it has been around 49.9 over the last month pretty consistently - although it has slipped back to 49.2 in recent days. What I dont know is whether BKK bank actually give the sight TT rate or one of the other rates quoted on their site.

Reason for asking is that I still use HSBC Premier, where I get free immediate transfers and the ability to transfer large sums, but the rate has been poor - about 48.5 3 weeks ago when BKK bank was quoting 49.9 buying rate TT. I need to replace HSBC anyway, since they sold their customers in Thailand up the river (literally as well as figuratively) to Bank Ayuttya.

[chiang mai]

What exchange rate is BKK bank giving to the GBP in the last couple of weeks for transfers from BKK London branch (or any other UK bank for that matter)? I have monitored the BKK bank rate (buying rate TT) on their website for several months and it has been around 49.9 over the last month pretty consistently - although it has slipped back to 49.2 in recent days. What I dont know is whether BKK bank actually give the sight TT rate or one of the other rates quoted on their site.

Reason for asking is that I still use HSBC Premier, where I get free immediate transfers and the ability to transfer large sums, but the rate has been poor - about 48.5 3 weeks ago when BKK bank was quoting 49.9 buying rate TT. I need to replace HSBC anyway, since they sold their customers in Thailand up the river (literally as well as figuratively) to Bank Ayuttya.

The GBP/THB ex rate in London is usually much worse than it is in country, typically the banks here will take about 50 satang or less on the GBP selling rate (not the midpoint rate). I'm also a soon to be ex Premier customer in BKK and used to use Global View for the transfer whcih saved on the HSBC London transfer fees but then I usually got stung on the ex rate in BKK so horses for courses. Currently I plan to go via HSBC Singapore or to go direct to a Thai bank, the option to use a transfer to Bangkok Bank in London and then onwards looks very attractive and suggest you check it out since there are no fees involved from London.

[CharlieH]

Bkk bank Thailand, give the TT rate on the day it arrives, as per the published rate shown on their website and here on TV in top right corner.

[SantiSuk]

Thanks - v useful to know. I'll test it out (to my wife's BKK account - which is a move I was not willing to try out unless it was a probable winner,as I'm sure TVers would understand!)

[creck]

The link you have been given to Bangkok Bank site has a very clear explanation. Only silly problem I had was that I have Skype installed and it changed the account numbers into phone numbers on my screen. Confused me at first.

I have transferred from an HSBC ac via BB in London and it works well and fast. The best deal is always to transfer in GBP

Edited May 18, 2012 by creck

[SantiSuk]

Last time I tried to open a Bangkok Bank account in my own name here in Thailand in Kantharalak, SiSaket (non-O and driving license plus wife and her housebook) they said I needed to get the local police to sign off (as though the police were some bastion of financial integrity - <deleted>?).

Perhaps I will have more luck in Bangkok with my newly acquired condo blue book (not registered for me - think I would need a yellow book to do that - and title).

[chiang mai]

I find it amazing that even today there are branches still that do that, especially amazed since it's BB, is that why they call it Amazing Thailand? .

[true blue]

if you have ibanking,with bangkok bank/hsbc/barclays,you can do a transfer in minutes on your computor,and depending what time of day you do the (sterling) transaction,it takes 24 hours to hit your account in los,and at the tt rate as well.10000 pound daily rate hsbc,about 25quid fees???not sure barclays limit??

[OJAS]

This service is FANTASTIC. I just started using it the other day.

On Tues afternoon (Thailand time) transferred from Santander (UK) using internet banking a small amount to test. Checked at atm on Weds evening, its in my account.

On that same evening, around 9pm Thailand time, transferred a large amount. Checked my account around 5pm the next day, its arrived!

In summary, so far, its taken just one working day for the funds to arrive. I think just make sure you send before the banks in the UK close (if you want it the next day). Also it might depends on your bank. Basically I think whenever your transfer arrives at Bangkok Bank in the UK, you ll get your funds in Thailand the next day.

But you may hear this many times already: always send in sterling!

P.s. dont bother asking about this service at any branch in Bangkok Bank, I tried and they were completely clueless (I and speak fluent Thai). It works 100%.

Enjoy!

Actually a case of swings and roundabouts as to whether to send in GBP or THB, I think. Bangkok Bank levy a flat-rate charge of £20 + a 0.25% “international fee” supplement where the GBP-THB conversion is done in Bangkok post transfer at a superior exchange rate. Whereas they levy a flat-rate charge of £15 with no “international fee” supplement where the GBP-THB conversion is done in London pre transfer at an inferior exchange rate.

However I agree that there is no beating this seemingly unique Bangkok Bank facility which is my sole reason for banking with them, and I wonder whether other Thai banks are missing a trick here. Not only are you not clobbered for UK bank charges but you can also avoid the considerable expense of calling your UK bank to arrange a SWIFT transfer, which is usually compounded by having to hang on for ever and a day while being serenaded by Beethoven’s complete suite of symphonies until someone in their call centre can be bothered to answer your call. And my recent experience is also that Bangkok Bank BACS transfers take no longer than SWIFT transfers to be processed.

As regards the maximum amount which can be transferred, any transfer exceeding the equivalent of 20,000 USD will in any event require a Foreign Exchange Transaction Form to be completed before it can be finalised here.

Edited May 21, 2012 by OJAS

[SantiSuk]

if you have ibanking,with bangkok bank/hsbc/barclays,you can do a transfer in minutes on your computor,and depending what time of day you do the (sterling) transaction,it takes 24 hours to hit your account in los,and at the tt rate as well.10000 pound daily rate hsbc,about 25quid fees???not sure barclays limit??

Dunno about Barclays but with HSBC the 10,000 limit on daily transfers is for domestic transfers only. For foreign currencies there is a schedule of daily rates that you can access half way through the process (so you can look it up without being forced to complete a transaction). Last time I looked HSBCs daily maximun to transfer GBP to Thailand was about GBP 6,700. HSBC's fee for a GBP transfer to a third party Thai bank is GBP17.

[WBS2555]

The transaction limit depends on your UK bank's regulations.

[WBS2555]

This service is FANTASTIC. I just started using it the other day.

On Tues afternoon (Thailand time) transferred from Santander (UK) using internet banking a small amount to test. Checked at atm on Weds evening, its in my account.

On that same evening, around 9pm Thailand time, transferred a large amount. Checked my account around 5pm the next day, its arrived!

In summary, so far, its taken just one working day for the funds to arrive. I think just make sure you send before the banks in the UK close (if you want it the next day). Also it might depends on your bank. Basically I think whenever your transfer arrives at Bangkok Bank in the UK, you ll get your funds in Thailand the next day.

But you may hear this many times already: always send in sterling!

P.s. dont bother asking about this service at any branch in Bangkok Bank, I tried and they were completely clueless (I and speak fluent Thai). It works 100%.

Enjoy!

Apologies but I'd like to understand the process more completely. So the idea is that a person transfers from their UK bank, to Bangkok Bank London but uses their Bangkok Bank Thailand account number? What sort code should be used, Bangkok Bank London?

"Sort Code" is 60 93 98 (6 digit of Bangkok Bank’s London branch)

For complete process, click on http://www.bangkokbank.com/Bangkok%20Bank/Personal%20Banking/Transfering%20Funds/Transferring%20into%20Thailand/Receiving%20Funds%20from%20UK/Pages/UK_Internet%20Banking.aspx

[WBS2555]

This service is FANTASTIC. I just started using it the other day.

On Tues afternoon (Thailand time) transferred from Santander (UK) using internet banking a small amount to test. Checked at atm on Weds evening, its in my account.

On that same evening, around 9pm Thailand time, transferred a large amount. Checked my account around 5pm the next day, its arrived!

In summary, so far, its taken just one working day for the funds to arrive. I think just make sure you send before the banks in the UK close (if you want it the next day). Also it might depends on your bank. Basically I think whenever your transfer arrives at Bangkok Bank in the UK, you ll get your funds in Thailand the next day.

But you may hear this many times already: always send in sterling!

P.s. dont bother asking about this service at any branch in Bangkok Bank, I tried and they were completely clueless (I and speak fluent Thai). It works 100%.

Enjoy!

Actually a case of swings and roundabouts as to whether to send in GBP or THB, I think. Bangkok Bank levy a flat-rate charge of £20 + a 0.25% “international fee” supplement where the GBP-THB conversion is done in Bangkok post transfer at a superior exchange rate. Whereas they levy a flat-rate charge of £15 with no “international fee” supplement where the GBP-THB conversion is done in London pre transfer at an inferior exchange rate.

However I agree that there is no beating this seemingly unique Bangkok Bank facility which is my sole reason for banking with them, and I wonder whether other Thai banks are missing a trick here. Not only are you not clobbered for UK bank charges but you can also avoid the considerable expense of calling your UK bank to arrange a SWIFT transfer, which is usually compounded by having to hang on for ever and a day while being serenaded by Beethoven’s complete suite of symphonies until someone in their call centre can be bothered to answer your call. And my recent experience is also that Bangkok Bank BACS transfers take no longer than SWIFT transfers to be processed.

As regards the maximum amount which can be transferred, any transfer exceeding the equivalent of 20,000 USD will in any event require a Foreign Exchange Transaction Form to be completed before it can be finalised here.

According to the new BOT regulations, any person purchasing, selling, depositing, or withdrawing foreign exchange with an authorized bank in an amount of USD50,000 or above shall be required to report such foreign exchange transaction to the authorized bank in the form as prescribed by the Competent Officer.

More detials of Exchange Control Regulations In Thailand click on: http://www.bot.or.th/English/ForeignExchangeRegulations/FXRegulation/Pages/ExchangeControlLaw.aspx

[binjalin]

i cant see how to do this with nat west - also the BB here said i have to travel to UK to set up the account - which clearly you have said is nonsense

PS also you need to open a FE account here first? thats not so easy either

Edited May 29, 2012 by binjalin

[chiang mai]

i cant see how to do this with nat west - also the BB here said i have to travel to UK to set up the account - which clearly you have said is nonsense

PS also you need to open a FE account here first? thats not so easy either

i cant see how to do this with nat west - also the BB here said i have to travel to UK to set up the account - which clearly you have said is nonsense

PS also you need to open a FE account here first? thats not so easy either

Assumining you already have an account at Bangkok Bank in Thailand and your Natwest account in the UK:

Make the transfer from your NW account to Bangkok Bank London using the London sort code and account number supplied in the documentation above, in the comments field of the transfer put your BB Thailand account number, job done.

[binjalin]

i cant see how to do this with nat west - also the BB here said i have to travel to UK to set up the account - which clearly you have said is nonsense

PS also you need to open a FE account here first? thats not so easy either

i cant see how to do this with nat west - also the BB here said i have to travel to UK to set up the account - which clearly you have said is nonsense

PS also you need to open a FE account here first? thats not so easy either

Assumining you already have an account at Bangkok Bank in Thailand and your Natwest account in the UK:

Make the transfer from your NW account to Bangkok Bank London using the London sort code and account number supplied in the documentation above, in the comments field of the transfer put your BB Thailand account number, job done.

ok thanks but... I am transferring, partly, to get the letter and docs I need to transfer money from abroad to buy a condo

[chiang mai]

i cant see how to do this with nat west - also the BB here said i have to travel to UK to set up the account - which clearly you have said is nonsense

PS also you need to open a FE account here first? thats not so easy either

i cant see how to do this with nat west - also the BB here said i have to travel to UK to set up the account - which clearly you have said is nonsense

PS also you need to open a FE account here first? thats not so easy either

Assumining you already have an account at Bangkok Bank in Thailand and your Natwest account in the UK:

Make the transfer from your NW account to Bangkok Bank London using the London sort code and account number supplied in the documentation above, in the comments field of the transfer put your BB Thailand account number, job done.

ok thanks but... I am transferring, partly, to get the letter and docs I need to transfer money from abroad to buy a condo

So? The documentation you need is issued here in Thailand by the recieving bank. Bangkok Bank London is nothing more than a link in the chain that makes your transfer easier and quicker, once recieved here in Thailand then your local Bangkok Bank branch will issue the certificate etc.

[binjalin]

you're missing the point with your 'so?' funds have to be transferred in a foreign currency and so a foreign exchange account with BB would have to be set up first otherwise they will convert to BAHT and this maybe a problem in getting the letter issued for the Land Office

[chiang mai]

you're missing the point with your 'so?' funds have to be transferred in a foreign currency and so a foreign exchange account with BB would have to be set up first otherwise they will convert to BAHT and this maybe a problem in getting the letter issued for the Land Office

No, you remit foriegn currency from outside of Thailand to your Thai Baht account with Bangkok Bank inside Thailand, the latter makes the conversion from whichever foriegn curency you send send, into Thai Baht and records that the conversion has been done using foriegn currency sent from abroad, you are then elligible for the resultant exchange certificate - this is all fairly standard operating procedure for all incomming foriegn currency. You do not need a foriegn currency account in Thailand unless you intend to hold foriegn currency for an indefinite period for say investment purposes and this would be very much the exception.