mallmagician Posted June 21, 2012 Share Posted June 21, 2012 Hi all, I just transferred 1000 from Halifax Bank in the UK to my gbp foreign currency account held at Bangkok bank. I was charged separately 9.50 by halifax for the transfer (online). When the money hit my bkk bank FCD account, it was only 995gbp. They then charged 4.10gbp to receive it, leaving me 990.90 So im missing a fiver. Bangkok Bank say that the other bank are responsible. Halifax say that some banks use an intermediary, that may have charged a fiver. Does anyone know what's actually happened with the fiver? Any experience with similar issues? Link to comment Share on other sites More sharing options...
yoshiwara Posted June 21, 2012 Share Posted June 21, 2012 I'll tell you if you slip me a few. Link to comment Share on other sites More sharing options...
beano2274 Posted June 21, 2012 Share Posted June 21, 2012 you seem to be sooooo worried about 5GBP!!!!!!!! Link to comment Share on other sites More sharing options...
Flex2791 Posted June 21, 2012 Share Posted June 21, 2012 Probably went through HSBC Bangkok first then on to Bangkok Bank. Of course HSBC will take their "cut" also as will the receiving bank. HSBC clears many of our T/T transfers from the UK from many different banks then forwards the funds to our bank. Link to comment Share on other sites More sharing options...
SantiSuk Posted June 21, 2012 Share Posted June 21, 2012 you seem to be sooooo worried about 5GBP!!!!!!!! Dont listen to Beano, I share your pain, mallmagician. Five pounds is five pounds! Looks after the pennies Kantharalak 1 Link to comment Share on other sites More sharing options...
personchester Posted June 21, 2012 Share Posted June 21, 2012 (edited) If the transfer was done online via "SWIFT" then the money would have gone "directly" into your Bank in Thailand without any use of a 3rd Bank, the cost of a SWIFT transfer from various UK banks is between 20.00 to 40.00 pounds, and BBK Bank in Thailand charges around 200 THB to receive the transfer. The fact that Halifax charged only 9.50 pounds would indicate that the transfer was not done via SWIFT directly to Thailand, but was made initially to BBK Bank in London, in this case the transfer can be done via the UK "BASC" transfer system, which is cheaper than SWIFT hence the Halifax cheap charge of only 9.50 pounds. BBK Bank in London will then transfer the sum to the your Bank Thailand, they will of course not do it entirely free of charge hence the additional small charge of 5.00 pounds. Edited June 21, 2012 by personchester Link to comment Share on other sites More sharing options...
sysardman Posted June 22, 2012 Share Posted June 22, 2012 you seem to be sooooo worried about 5GBP!!!!!!!! Dont listen to Beano, I share your pain, mallmagician. Five pounds is five pounds! Looks after the pennies Kantharalak I agree 5 quid is 5 quid but on the other hand it could have been worse - these robdogs try to stiff you every which way they can, transfer fees, conversion fees etc. I recently made a purchase using a well known internet payment company and the initial price was GBP but to my amazement it was converted to USD when I checked out and then converted back to GBP to debit my account - I lost out twice on a needless double conversion. Link to comment Share on other sites More sharing options...
redroo Posted June 22, 2012 Share Posted June 22, 2012 the banks make loads of cash from all this penny pinching Link to comment Share on other sites More sharing options...
petewan Posted June 23, 2012 Share Posted June 23, 2012 Hi there, I had exactly the same thing (£5 short from halifax bank to BKBank) I got a print out and the £5 was taken by loyds bank so you pay 3 banks for swift transfer. Pete.. Link to comment Share on other sites More sharing options...
PattayaParent Posted June 23, 2012 Share Posted June 23, 2012 Hi there, I had exactly the same thing (£5 short from halifax bank to BKBank) I got a print out and the £5 was taken by loyds bank so you pay 3 banks for swift transfer. Pete.. Possibly because Halifax are not a clearing bank and they need to use one of the clearing banks to process external transfers? Link to comment Share on other sites More sharing options...
evadgib Posted June 23, 2012 Share Posted June 23, 2012 Did you stipulate "to arrive in Thailand in GBP"? I use Halifax too & have never noticed this problem (my receiving Bank is SCB). 1 Link to comment Share on other sites More sharing options...
tomallison Posted June 23, 2012 Share Posted June 23, 2012 Hi there, I had exactly the same thing (£5 short from halifax bank to BKBank) I got a print out and the £5 was taken by loyds bank so you pay 3 banks for swift transfer. Pete.. Possibly because Halifax are not a clearing bank and they need to use one of the clearing banks to process external transfers? An interesting reply P.P. I do SWIFT transfers to my Bangkok Bank account from Nationwide International, their charge is 20 pounds. Apart from the B.B. charge ther are no add ons. Link to comment Share on other sites More sharing options...
SantiSuk Posted June 23, 2012 Share Posted June 23, 2012 I guess the upshot is that all banks charge roughly the same. It may not appear to be that way to the consumer, but they have ways of levelling it out. HSBC gives me genuinely free transfers at both ends (HSBC Premier in both locations - no longer possible as HSBC sold out accounts to Bank Ayyuthya); however the rate just happens to be that little bit worse than other receieving banks in Thailand. Why would they do any different? FExecuting foreign tansfers for private individuals is presumably not a high enough volume business for the banks to be competing on price. Link to comment Share on other sites More sharing options...
WALSHYBFC Posted June 23, 2012 Share Posted June 23, 2012 Count yourself lucky, I transferred £25k from the Halifax last year and made the mistake of entering the baht value (which was on an exchange rate site that day) Upon receipt in my thai bank I noticed that the amount they took out of my UK amount was almost £28k to meet the thai baht value. Only then did I notice that I had the option to have it converted when the £25k reached my thai bank which would have saved me the £3k. Only made that mistake once Link to comment Share on other sites More sharing options...
Pib Posted June 25, 2012 Share Posted June 25, 2012 It will vary from bank to bank as to whether they use a intermediary bank(s) or not for foreign transfers...and if a bank does use an intermediary bank the fee schedule between the two banks will determine the intermediary fee...unfortunately, the customer usually don't find out about the intermediary fee until the transfer completes. Link to comment Share on other sites More sharing options...
PattayaParent Posted June 25, 2012 Share Posted June 25, 2012 Hi there, I had exactly the same thing (£5 short from halifax bank to BKBank) I got a print out and the £5 was taken by loyds bank so you pay 3 banks for swift transfer. Pete.. Possibly because Halifax are not a clearing bank and they need to use one of the clearing banks to process external transfers? An interesting reply P.P. I do SWIFT transfers to my Bangkok Bank account from Nationwide International, their charge is 20 pounds. Apart from the B.B. charge ther are no add ons. Nationwide are owned by RBS who also own NatWest who are a clearing bank. Link to comment Share on other sites More sharing options...
ruddy2000 Posted June 25, 2012 Share Posted June 25, 2012 Cheaper than WU! Sent from my Desire HD using Thaivisa Connect App Link to comment Share on other sites More sharing options...
nong38 Posted June 28, 2012 Share Posted June 28, 2012 I have just done a swift and looks like I was charged a few bts for the reception, the other problem I have encountered is that th funds get into Thailand ok, into the "compliance Department" where it stays until I make contact and ask if it can be released, I know this is how it works, annoying but there we are, the good thing is that it was completed at 49.6 which is good by the look of it. It is a bit disconcerting until I found out what was happening, now I know, I will email the department one day after the swift is sent, learn something new all the time! Link to comment Share on other sites More sharing options...
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