Sterling Transfers Into A Bangkok Bank Account

[jor]

Hi,

Can anyone advise whether BBL are still diverting inward Sterling transfers through their London branch where they deduct a fat charge and delay the transfer by several days?

This issue came up 2-3 years ago when a BM who was a senior member of BBL management intervened and got one such charge re-imbursed for me. Unfortunately, this guy seems to be no longer a BM.

I have asked the question in a BBL branch but they did not understand the issue.

Thanks.

Jor

[williewolf]

I was going to go down this route i.e. using HSBC to transfer money to my bank account here then I discovered the money is diverted to a London branch first and as you say a hefty chunk of commision is deducted. I opened up a currency account with Hargreaves Lansdown and there are no charges for amounts over £1000 or for regular transfers over £500 every month. Money takes about four working days to reach here, that is if you pay by debit card.

They also give a decent exchange rate (better than exchanging cash here)

[CharlieH]

If you transfer online from UK account to Bangkok London, make sure you select conversion in Thailand or you will be hit hard. Otherwise its usually in the the Thailand account the next day. 20 pound fee and 500baht MAX when receiving in Thailand.

So depending on how much you are transferring 30 pounds total isnt bad by current rates.

Edited November 16, 2012 by CharlieH

[pitrevie]

I get charged £20 by Barclays, here within 1 day, I gather Nationwide charges £25 to transfer my annual pension pot.

[jor]

The point is I was transferring Sterling (in Sterling) and quoting the BBL Bangkok SWIFT address. It was BBL's decision to route through their London branch thereby deducting a large fee (over £60), over and above the sending bank's £20 charge, and delaying the transfer.

Consequently, I opened an account with Kasikorn and have been happily transferring funds with just an approx. THB1,000 charge and next day value.

Reason for my question is that BBL have just opened a branch close to where I live and it would be convenient to bank there if they have discontinued their, dishonest in my opinion, practices.

Jor

[Haydn]

I have my pensions paid direct Bangkok Bank London and credited to my Pattaya Account (Bangkok Bank) ----

Transfer of Funds in THB - Bangkok Bank will deduct a transfer fee of GBP 15 - The funds will then be converted into Thai Baht using Bangkok Bank London Branch daily exchange rate . There is no additional fee taken by Bangkok Bank Thailand -- funds will received in Thailand the next working day after funds have been received by Bangkok Bank in London --- Sort Code 609398 additional number reguired by Bangkok Bank London 92 00 10 00 both the sort code and the additional number are required by the Bank or Pension group transferring the funds to Bangkok Bank

NB I did it all through Bangkok Bank London via e-mail

Hope this is a help

[JimGant]

I have my pensions paid direct Bangkok Bank London and credited to my Pattaya Account (Bangkok Bank) ----

Transfer of Funds in THB - Bangkok Bank will deduct a transfer fee of GBP 15 - The funds will then be converted into Thai Baht using Bangkok Bank London Branch daily exchange rate

I'm curious about the difference in exchange rates, i.e., how does the buying TT rate at Bangkok Bank Thailand compare to the rate you get at Bangkok Bank London? By all accounts, by converting in London you'll get a less favorable rate. I just wonder if the 5 GBPs you save on the front end (20 GBP fee to send sterling) -- and the ,25% fee saved on the back end -- make up for this presumably less favorable rate?

It's a simple either/or choice to decide whether to send sterling or baht, so presumably you've looked at the math.

http://www.bangkokba...undsfromUK.aspx

Thanks.

[meatboy]

i have my pensions trans.once a year through royworld in sterling,£20 2-3days,0r £27 same day to scb.who are always about 7satang more for t t,so on £20k the diff.pays for the trans and a small charge this end 300-500bht.

[jor]

Bump

"Can anyone advise whether BBL are still diverting inward Sterling transfers through their London branch where they deduct a fat charge and delay the transfer by several days?

This issue came up 2-3 years ago when a BM who was a senior member of BBL management intervened and got one such charge re-imbursed for me. Unfortunately, this guy seems to be no longer a BM.

I have asked the question in a BBL branch but they did not understand the issue."

Can anybody answer this question for me?

There must be many Brits here with BBL accounts who are transferring Sterling from a UK bank. I advise them to check their transfers to see whether BBL are still carrying out this practice. Hopefully, BBL have changed their ways but I should be grateful if anyone can advise.

Thanks.

Jor